Being financially fit means living a life of complete financial responsibility. Like physical fitness, you can build your financial fitness a little bit more each day. Here is how to begin:
Stick to a budget. A financially fit person knows that tracking monthly expenses is key to financial health. They are careful to set aside money from their monthly income for all fixed and discretionary expenses and to stay within budget for each spending category. SeaComm’s Online Financial Management Service is free, and allows you to budget, track expenses, and set financial goals. Click here to get started!
Minimize debt. A financially fit person is committed to paying down debts and seeks to live debt-free. Constant budgeting, ongoing financial education and planning enables them to make it through the month, and through unexpected expenses, without spiraling into debt.
Maximize savings. A financially fit person prioritizes savings. In fact, savings is a fixed item on their monthly budget instead of something that only happens if there’s money left over. This allows them to think ahead and build a comfortable nest egg or emergency fund. In turn, having a robust safety net means sleeping better at night knowing there is money available to cover unexpected expenses. Click here to discover a variety of savings options available to you at SeaComm!
Create concrete financial goals. A financially fit person has long-term and short-term financial goals. This enables them to keep their focus on the big picture when making everyday money choices, empowering them to realize their financial dreams.
Maintain a healthy credit score. A financially fit person knows that an excellent credit history and score is a crucial component to long-term financial health. They are careful to pay all bills on time, hold onto their credit cards for a while and to keep their credit utilization low. This enables them to qualify for long-term loans with favorable interest rates, which saves them money for years to come.
In an effort to protect your credit score from identity theft and fraudulent activity, consider upgrading your basic checking account to a Benefits Plus® checking with SeaComm! Your Benefits Plus® membership provides you with access to Identity Theft Services, which includes Fraud Alerts and IDT Restoration Rescue®. Benefits Plus® will assist in filing police reports and contacting all credit bureaus, creditors, financial institutions, merchants, and even utility companies on your behalf. Click here to discover even more advantages of a Benefits Plus® membership, or stop by your nearest SeaComm branch to enroll!
For complete information, terms, conditions and exclusions please visit www.benefits-plus.org or call 866-329-7587.