Quick Links

Fall Financial Checkup: Are You on Track for Year-End Goals?

 
Financial check-up
 

Can you believe it? September is here, and with it comes the crisp air, pumpkin spice everything, and the realization that the end of the year is just around the corner! As we settle into fall, it’s the perfect time to take a moment and conduct a quick financial checkup. Are you still on track to hit those financial goals you set at the beginning of the year? Let's take a look together.

This time of year offers a great opportunity to assess your progress and make any necessary adjustments. Think back to your New Year's resolutions – did they include saving for a big purchase, paying down debt, or perhaps building up your emergency fund? Now's the time to see how far you've come. Consider these points as you review your financial health:

  • Review Your Budget: Are you sticking to your spending plan? Fall often brings extra expenses like holiday planning or back-to-school costs (if you have kids). Make sure your budget still reflects your current income and outgo.

  • Track Your Savings Progress: Have you been consistently contributing to your savings goals? Whether it's for a down payment, a vacation, or retirement, check your progress and see if you need to ramp up your contributions in the final months.

  • Assess Your Debt: If you have outstanding debts, are you making progress on paying them down? Consider if you can allocate any extra funds to reduce high-interest debt before the year ends.

  • Check Your Credit Score: It's always a good idea to monitor your credit score. Knowing where you stand can help you make informed decisions about future financial moves.

  • Maximize Year-End Opportunities: Look into any opportunities to maximize your savings or reduce your tax burden before December 31. This could include contributing more to retirement accounts or utilizing Flexible Spending Account (FSA) funds.

At Common Trust FCU, we’re committed to helping you achieve your financial aspirations. If you find yourself a little off track or just want to discuss strategies for finishing the year strong, don't hesitate to reach out. Our team is always here to provide personalized guidance and support. Let's work together to make sure you cross the finish line of 2025 feeling financially confident and accomplished!

OMNICOMMANDER