5 Financial Points to Check Before Year End

As we approach the new year, it's the perfect time to jump start 2024 and your financial goals. Here are some steps to consider:

• Prepare for taxes. Start by gathering documents, including bank, credit card and investment account statements. Don't forget receipts for donations, childcare, education and/or medical expenses .
• Review your income and expenses from the year. Are you spending more than you earn? Review your bank statements and consider setting up automatic savings or investment contributions to make saving money easier.
• Make a list of all your outstanding debts, including credit cards, student loans, and mortgages with their interest rates and monthly payments. Explore strategies for paying off debt faster.
• Review your health, auto, home, and life insurance policies to ensure they still provide adequate coverage. Look for ways to save on insurance premiums by getting competitor quotes.
• Lastly, update your financial goals for the new year. Whether it's saving for a down payment on a house or building an emergency fund, make sure your goals are specific and attainable.

Jump start the new year towards achieving a more secure future. MMFCU's Online Banking and Mobile App have budgeting and savings tools to help you track your goals; you can find them under "Financial Tools" in the menu bar. Want to know more or have a weekly financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office. Sign Up for a Weekly Financial Wellness Tip Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.