As we dive into the holiday season, Financial Planning Month gives us the perfect chance to take a closer look at our spending habits, reassess our financial goals, and fine-tune our budgets.
This month isn’t just about crunching numbers—it’s about emphasizing the significance of having a solid financial plan and prioritizing financial habits like budgeting, saving, investing, and planning for retirement.
By honing in on these areas, we can gain better control over our finances, brace ourselves for unforeseen expenses, and make strides towards long-term financial security.
Review Your Finances
Utilize this month as an opportunity to review and revitalize your financial plan. Assess your current budget, savings, and investments to identify areas for improvement. Perhaps there’s a subscription you can cancel or a better way to invest your money. Online tools or apps can simplify the process and help you stay on track.
Make sure to take advantage of Mid Oregon’s Financial Wellness widget in Digital Banking, which efficiently categorizes your spending into various categories over time.
Set a savings challenge
Challenge yourself and others to a savings competition. Consider something enjoyable that you would love to save for—a dream vacation, the latest gadget, or a special night out— and set aside a certain amount by the end of October. Monitor your progress weekly and share updates with friends or family. The friendly competition can keep everyone motivated to achieve their goals, and the winner earns bragging rights!
To make it even easier, log into Digital Banking and use the Savings Goals tool to set a goal and track your progress.
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, 15-minute 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 you 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 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 at midoregon.com. We also encourage you to stay tuned to future member newsletters, blogs, and workshops for more financial fitness topics.
