Tips for Bettering Financial Wellness in 2021

The unpredictable year that was 2020 gave many an excuse to rethink their financial resolutions made last January. As we wipe the slate clean and enter 2021 with hopefulness and positivity, it’s important to set realistic goals when it comes to saving, spending, and everything in between. 

Kick-off the year strong and lock in a few resolutions that you can actually keep with these financial wellness tips.

Mind Your Credit Card Rates

Isn’t it about time that you switched to a credit card with a low rate? A dazzling point-based rewards program may not be that rewarding if your current credit card comes with an annual fee or balance transfer costs. 

To get out of debt sooner and reap the benefits of using a credit card on your everyday purchases, consider a Visa Platinum or Secured credit card with Members 1st. You’ll take 2021 by storm with the card that has a low APR and earns you redeemable points for your favorite merchandise. Set a goal to achieve financial security and treat yourself more this year! 

Contribute to an IRA or Emergency Fund

If stimulus checks and tax refunds grace your checking account with an influx of cash this year, it may be wise to strategize a smart savings plan with your deposits. Even if you already have a 401k plan at work, it’s never a bad idea to secure your retirement further with a Traditional or Roth IRA account. 

Even a small investment is enough to get on the road to building the income you need to retire. If you’re already on track with a solid IRA investment plan, take a moment to check in on your emergency fund (or finally start one!) If financial setbacks required you to dip into emergency savings in 2020, you’re certainly not alone. Just be sure to make it a priority to replenish your account for any future unexpected costs.  

Utilize the Financial Tools You Already Have

Tackle your finances the easy way — in person, from home, or on the go! With the multitude of online and mobile services available at Members 1st, there’s no need to be in the dark when it comes to your money. 

View your account balances, make transfers, and even pay bills online or from your mobile phone in a matter of seconds. Financial hiccups are likely to happen no matter how efficient you are with your finances, but the ability to monitor accounts and take action 24/7 means you can be fully prepared in 2021.

Consider Refinancing

New year, new rates! If your existing debt obligations are making it tough to achieve financial stability, it might be ideal to consolidate bills or refinance a loan

Lower interest rates are the key to paying off your debt quickly and comfortably and can alleviate stress when you need to borrow for any reason. Manage your mortgage, car, or credit card bills with ease this year by refinancing with rates and terms that meet your goals. 

Not yet a member? No problem! Simply open up a Share Savings Account and get started with the Members 1st of NJ family today. We can’t wait to accompany you on your financial journey this year and beyond!