BMI Federal Credit Union
5 Financial Things To Do On Labor Day
Getting Your Finances In Order
Keeping on top of your finances is a great way to ensure that you are financially sound and will also help prevent any unfortunate surprises from coming your way. Since most of us will have the day off on Labor Day, it’s the perfect opportunity to take some time for your finances and make sure everything is in good working order. Here are five things you can do stay on top of your finances this Labor Day:
- Check your budget. With the excitement of back to school and the end of summer, it can be easy to lose track of your budget and how much you’re spending. Take some of your free time and sit down with a budgeting tool, such as My Finance Tool in our Online Banking App, and run your numbers to make sure you’re staying within your budget. If you’ve gotten a little off track, better to catch it now and set things right earlier than later!
- Start planning for the holidays. The holiday season may seem a long ways off, but it will sneak up on you sooner than you think. Use some of your time off to start making a plan and budgeting for the holidays. Again, use a program like My Finance Tool to set a goal and make sure you’re saving accordingly.
- Check your credit report. If you haven’t done so already, take time to get and look over your credit report. You’re entitled to a free report every twelve months from each of the three credit bureaus. Check to make sure all your information looks correct and that there is no suspicious activity on your report. If you need help deciphering your credit report, take a look at our previous post all about getting to know your credit report.
- Look at your credit card statements. As best practice, you should always look over your credit card statements to make sure all your accounts look good and that there are no suspicious or fraudulent transactions. Knowing what’s going on also gives you time to dispute a transaction – many financial institutions place a time limit on when you can dispute a transaction. If you make your claim too late, there’s usually nothing they can do.
- Organize your documents. In the event that anything happens to you, you want to make sure all your financial documents are organized and in one place. This can take a while, so using your day off to get started is a perfect opportunity.
Having some time off is the perfect time to get important tasks done – this includes managing your finances. Put the holiday to good use, and you’ll be financially set!