Did you set financial goals at the beginning of this year? If so, now is the perfect time to pause and review your finances.
Checklist:
- Budget: Compare what you planned to spend versus what you actually spent this year. Adjust for seasonal expenses like property taxes, home and vehicle maintenance and upcoming holiday travel. Click to learn more about setting a budget.
- Emergency Funds: Aim for at least 3-6 months of living expenses. If you’ve dipped into savings, create a plan to start replenishing it before year-end.
- Debt Strategy: Are you meeting payments or making extra payments toward high-interest balances? Even extra small payments can help reduce principal balances faster.
- Savings Goals: Are you saving for vacation, a new home or large purchase? Track your progress and adjust your monthly contributions. Click here to learn about Peoples Bank Savings Accounts available to you.
- Investments and Retirement Accounts: Check in with your financial advisor or human resources team to review your contributions and ensure you’re still aligned with your long-term goals.
- Credit Score: Look for ways to improve your score, errors or signs of fraud. A strong credit score demonstrates your financial responsibility to lenders and can open the door to better borrowing terms and interest rates.
A quick mid-year review can help you feel confident and builds healthy financial habits for the future. If you’re not sure where to start, your local Peoples Bank team can help provide you with financial literacy resources.
*INVESTMENT PRODUCTS ARE NOT INSURED BY FDIC. NOT DEPOSITS OR OTHER OBLIGATIONS OF THE BANK AND ARE NOT GUARANTEED BY THE BANK; SUBJECT TO INVESTMENT RISKS, INCLUDING LOSS OF PRINCIPAL INVESTED.
