SeaComm Federal Credit Union OFFICIAL BLOG

Three Tips to Help You Improve Your Finances

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Financial concerns are a regular source of anxiety for many people. But it’s important to remember that worrying doesn’t solve much – but working to overcome financial problems, does! Continue reading to learn three ways you can improve your financial situation, today.

 

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Track your income and expenses. The most important component in building and maintaining a healthy financial life is awareness. It’s important to always be aware about what will be coming in and out of your accounts. You should be reviewing your checking account every day to monitor your debits and credits, verifying that you are on track with your budget, and avoiding unexpected or fraudulent charges. For a simpler way to pay your bills and track your expenses, sign up for SeaComm’s online bill pay by clicking here.

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Pay attention to interest rates. Whether you are applying for a personal loan, credit card, or a mortgage – you should always pay attention to the interest rate that is granted to you. After all, the interest on a loan is an additional amount you’ll be required to pay, on top of the principle loan payment. The determination of your interest rate is based on a number of factors, one of those being your personal credit score. Therefore, it will only benefit you to work on maintaining good credit, as well. For a quick look into SeaComm’s competitive, low rates, click here!

 

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Weigh the pros and cons before making any big purchases. Impulse buying, especially when it concerns large purchases, is something you should always refrain from doing when trying to maintain a healthy financial life. Whether it is a new couch, home, another vehicle, or exercise equipment, you should always look for a comparable option at a lower price. When purchasing large appliances or furniture, some stores will offer you the option to pay over time, usually on a monthly basis (with interest, of course.) Most of the time, this is not a good idea. Instead of being charged an outrageous amount of interest from a third party credit company, visit your local SeaComm branch to apply for a competitive rate personal loan!

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