Checking in with your finances doesn’t have to be scary and Mid Oregon has the resources to help you.
It seems that the Summer has come to an end, the kids are back in school and it’s time to choose your costume for Halloween. October is also Financial Planning Month and the perfect time to review financial goals and check in with your budget.
No matter what your life stage is, this month isn’t just about crunching the numbers, it’s an opportunity. Some of us are already on top of our financial futures, and some of us are hoping for the best. Gaining control over your finances; bracing yourself for unforeseen expenses; setting and tracking savings goals; and making strides towards long-term financial security, are all important strategies made easier by taking advantage of your Credit Union and the services we provide.
Budgets: Review, Refresh or Start from Scratch
Utilize this month as an opportunity to review and revitalize your financial plan—or start working on a plan for the first time. Mid Oregon’s Digital Banking has tools to help you review your current budget, savings, and investments to identify areas of opportunity.
Mid Oregon’s Financial Wellness widget in Digital Banking, efficiently categorizes your spending into various categories over time.
There are many ways to budget, you can read more about some of them in the Mid Oregon Blog.
Savings: Start Small and Watch it Grow
Are you new to saving money, or have you had a hard time getting started? Pick something small like a new outfit, a needed tool or something for your home and set aside a small amount each week. Set a time frame to achieve your goal and track your progress on a calendar, your refrigerator, in Digital Banking or whatever works for you. Set check in points, and when you are on track to your goal reward yourself with something small like a fancy coffee or rent a movie, you’ve been wanting to see.
Goals can be tracked easily in Mid Oregon’s Digital Banking App (under Financial Wellness/Savings Goals). Set a goal and start saving. Set up several goals and have the system divide each deposit or funnel money into a specific goal. You’ll get notifications when you reach a goal. Celebrate it!
Financial Health: Get a Free Financial Checkup
Mid Oregon members receive free access to a powerful resource for getting a handle on their finances. Financial Checkup takes you through an anonymous, questionnaire to organize your information on income, debt, and expenses. Simply answer a few questions and in just minutes, you will receive a thorough analysis of your financial situation. Additionally, you will receive tips by leading financial experts to help manage your debt and build a budget.
Know Your Most Important Score
Improving your credit score is another crucial aspect of financial wellness, and Mid Oregon can help you navigate this process. Many of us don’t keep track of our credit scores, but having a good score influences the type of financial options available to you—including interest rates on loans.
Mid Oregon has a free, secure option that can help you take charge of your credit. My Credit Score on our Digital Banking platform can help you improve your score, and monitor for potential fraud. When you enroll, you receive anytime, anywhere access to your credit score. Plus, you’ll receive simple, straightforward tips that you can use to improve your score.
Invest in Your Financial Education
Take the time this month to learn something new about personal finance. Whether through books, podcasts, or videos, expanding your knowledge on topics like investing, retirement savings, or debt management can have a significant impact. Enhancing your financial literacy is an investment in your future.
Mid Oregon holds free, in-person financial workshops on topics such as retirement, estate planning, social security, investments and more. We also have past workshops you can view on our YouTube channel. Additionally, our Financial Tips section on our homepage has a variety of articles on budgets, saving money, fraud prevention, and more. Ultimately, Financial Planning Month is about empowering you to take control of your financial future and make decisions that foster stability and growth. Your Mid Oregon team is here to help you every step of the way—please stop by, call, or visit us online atmidoregon.com. We also encourage you to stay tuned to future member newsletters, blogs, and workshops for more financial fitness topics.
