5 Tips for Maximizing Your Money

You work hard for what you have. Be just as diligent in defending those dollars.

1. Review recent purchases

Take a few minutes to assess your last three months’ transactions. Where are you spending a lot? How can you cut back? Pay close attention to recurring charges like subscriptions. (Do you use what you’re paying for?) If you have a budget, compare it to your statement to ensure you’re on track.

2. Step up your savings

Nearly six in 10 Americans don’t have enough savings to cover a $1,000 unplanned expense. Building an emergency fund helps ensure future financial stability. Setting up automatic transfers is a great way to ramp up your savings without having to think about it.

3. Check your credit

Keep a close eye on your credit score, both to see your progress and to monitor for fraud. If you’re a UW Credit Union member, check your credit score in Web Branch and get a full credit report for free, anytime.

4. Take an interest in interest

According to recent surveys, 40% of Americans with credit card debt don’t know their interest rate. The same holds true for more than one in four mortgage holders. For credit cards and loans alike, always know your rates. If payments are eating a big chunk of your budget, talk to us – we may suggest refinancing.

5. Don’t forget security!

Do you have strong passwords? Are they unique for each website you visit? Protect your accounts from fraud with codes comprised of numbers, symbols and upper- and lower-case letters.