Smart Finances for Fall
Here’s why you should keep a closer eye on your finances throughout the autumn months!
Spring and Summer Spending
Fall is a great time to sit down and consider your year’s flexible expenses. Perhaps you’ve taken a summer vacation, remodeled your house, or just enjoyed several warm-weather activities. It’s important to know where these funds came from – did you borrow from your savings account or use a credit card? Consider how you plan to replenish or repay these accounts. If you need help with this step, our Financial Education Program is customized to help you succeed with a plan that’s right for you.
Back to School Spending
If you or your kids are heading back to school, you know it isn’t cheap. From supplies, to clothes, to sports, to extra-curriculars, it’s important to stay in control of these necessary expenses that add up quickly. Take some time to lay out these expenses so you can better control them throughout the school year, and check out our additional articles for back-to-school preparedness.
October is Financial Planning Month
October is historically known for several days that have marked the beginning of economic downturn. This has resulted in a phenomenon known as the “October Effect”, where consumers perceive economic decline throughout October. It is also the start of the federal fiscal year. For these reasons, October has become known as National Financial Planning Month, where consumers are encouraged to think about their future. Consider your short and long-term plans, review your goals, and learn about options for savings.
It’s a good idea to slow down your spending in the final days of summer, and start to pad your savings accounts for winter. Holiday expenses are around the corner, including gifts, gatherings, and travel. Ensure you won’t be stressed for the season with early planning and extra help. Check out My Finance Tool, the interactive budgeting tool to see all your accounts, all in one place. Track your spending patterns and see where you can hoard your holiday cash. My Finance Tool can be easily accessed through Online Banking! An extra tip – keep a look out for holiday loan specials from BMI Federal Credit Union beginning in November!
When in Doubt, Ask for Help
If you don’t know where to start, you’re not alone. That’s where we come in! At BMI Federal Credit Union, we are in the business of improving financial lives. As an award-winning financial institution, we do it all, from mortgages and home equity loans, to checking and savings accounts, to credit cards, to HSAs, to auto loan financing and refinancing, and more. We are also proud to provide exceptional Member Service, and a Financial Education Program that’s designed just for you. Call us at 614.707.4000, explore our website, or visit any one of our five branches in Dublin, Westerville, or Columbus.
BMI FCU is open to everyone who lives, works, worships or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware or Morrow County. All loans subject to approval. This credit union is federally insured by the National Credit Union Administration. NMLS number 410831. Equal Housing Lender.