Author Archive for Danielle Panchak

3 Ways To Be More Proactive With Your Finances

We all know money is tough for a lot of people right now, and a lot of people are thankful for their credit unions at this time. AllCom Credit Union cares about the well-being of their members. If you or someone you know is looking for a way to improve their financial situation going into 2021, here are three ways you can be more proactive with your finances.

Redirect a little at a time: If you have no savings, you just have to start putting a little way at a time. Saving manually is hard, so automating it is recommended. If you normally dump your whole paycheck into your checking account, redirect a portion of those funds into your new savings account and before you realize it, you’ll have enough money in there to help out when an emergency arises.

Spend your free time differently: Your day job might help you pay for the essentials. But a side hustle in your free time from home, that’s something that could make a difference in your wallet while giving you the freedom you’ve always wanted. 

Do some research: Find out what you could be doing better. Whether the problem is saving, spending, investing, or budgeting, spend some time reading up on personal finance and you might eventually come across a tip that will change your life. It sounds easy, but sometimes it’s the little things that make all the difference.

Article adapted from “3 ways to be more proactive with your finances” by CUInsight

Securely Deposit Checks Using Mobile Deposit

Still mailing your deposits to the credit union? Is remote work and COVID making travel to the branch more difficult?

With the AllCom Credit Union mobile banking app, you can quickly and securely deposit a check from anywhere in the world directly to your AllCom account. Using the same credentials as online banking, log into the app and click “Mobile Deposit”. Choose your desired account, enter the individu­al check amount and take a photo of the front and back. Be sure to sign the back and write “For Mobile Deposit at AllCom CU”. Submit the deposit.

Funds are normally received in two business days, faster than the postal mail and more secure because your personal details never leave your side.

Have a large deposit above the typical mobile deposit limits or need assistance with mobile banking or mobile deposit? Simply contact us at 888.754.9980 during regular business hours and one of our Member Service Representatives will gladly assist you.

Learn more about mobile deposit and mobile banking.

AllCom’s 10-Point Commitment to Member Service

Debbie C. Guiney, President & CEO, AllCom Credit Union

“We remain committed to providing a level of service not commonly found today, never losing sight of our roots and the fact that the Credit Union is owned by its members.

This ideal, which is the foundation on which we were built almost 100 years ago, guides us every step of the way. We are stronger than ever and prepared for the future.”

Debbie C. Guiney
President & CEO

1.Our Members are Our Most Important Asset
• All Members share ownership in AIICom Credit Union.
• We work to serve you and your needs, not those of stockholders.

2. We Value Your Business
• We realize that membership in a credit union is a choice.
• We promise to show our appreciation when you visit our branch,
contact us by phone, visit our website or email us.

3. Every Dollar of Your Deposits is 100% Insured
• Federal NCUA insurance provides up to $250,000 of coverage.
• Funds in excess of $250,000 are fully insured by MSIC.

4. Confidence in Our Legacy of Safety & Security
• Since 1922, we’ve been a trusted financial resource.
• President & CEO Debbie Guiney has served our members for more than 40 years. Many other employees have been with AllCom for
over 20 years.

5. We are Committed to the Central Massachusetts
• All those who live, work or attend school here* are welcome.
• New members are vital to our institution and we welcome your

6. We Offer a Superior Level of Service
• Employees know you by name when you visit the branch.
• Your call is always important. REAL people answer our telephones.

7. Our Deposit & Loan Products are Competitively Priced
• We shop the competition regularly; comparing their rates to ours.
• Special offers give our members the opportunity to save and earn
more money.

8. Your Loan Application is Given Priority
• Decisions on auto loans and other consumer loans can be provided
in as little as 15 minutes – apply in person, online or over the phone.
• Can’t make it to the branch? We can come to you to close your loan.
• Qualified borrowers may be eligible for electronic loan closings.

9. We are Making AllCom More Convenient for Members

• CO-OP Shared Branching gives members access to more than 5,600
credit union branches nationwide.
• SUM & CO-OP ATM networks give members access to thousands of
surcharge-free ATMs with more added each day.
• Online and mobile banking with deposit capture is available to all

10. We Want to be Your First Choice for Mortgage Lending
• A wide choice of rates, terms and products are available to fit your
borrowing needs.
• Programs include home mortgages, home equity loans, FHA/VA
mortgages and more.

We’d love to meet your friends and family!
Your friends and family can earn you money.
Visit for more information.

Important Notice That Will Impact Branch Access

AllCom Credit Union is currently undergoing a major renovationof the entire building, parking lots and drive-through.

We deeply apologize for the inconveniences this will cause.

The renovation will impact your access to the Credit Union as follows:

• The parking lots, drive-through and ATM will be closed for repaving at noon on Friday, September 25th and will remain closed until the Credit Union opens for business at 8:30 AM on Monday, September 28th (weather permitting).

• To ensure the safety of our members and employees, and to complete the renovation as quickly as possible, the lobby will also be closed for several weeks in the October/November timeframe. During this time, the drive-through will remain open and appointments can be made for loan closings and member service needs. We will communicate the dates and details as we get closer.

Please plan in advance for Teller transactions or use remote services if possible.

We apologize in advance and thank you for your patience.

Protecting Your Data from Third-Party Finance Services

Are you using a personal finance app to help manage your money? If you are, you aren’t alone.

Consumers across the country are increasingly turning to apps like,, CashApp, and countless others to monitor their spending. While these apps may provide a platform for viewing and working with multiple accounts, they also increase the risk of having financial information breached. In fact, a recent breach at Waydev affected 7.5M consumers.

If you are leveraging any of these tools, there are some important steps you can take to protect your personal information.

  1. 1. Examine the terms of service for apps you are using.
    • Review the app’s data retention policies and determine whether the app resells your information.

  2. 2. Find out what security features the app offers to ensure your personal information remains safe.
    • Look for things like two-factor authentication.

  3. 3. Always confirm the validity of the app.
    • Don’t provide your account numbers or any personal or financial information on the phone or online unless you initiate the conversation and you know the organization.

  4. 4. Change your passwords and security settings often and use a highly secure password for your financial accounts.
    • Secure passwords often contain letters, numbers, and special characters.
    • Avoid using the same username and password on multiple sites.
    • Guard your pins and passwords. Don’t store them on your phone or write them down in a location where others might be able to access them.

  5. 5. Change your credit union and other account passwords if you want to remove an app’s access to your accounts.

  6. 6. Contact us at 888-754- 9980 right away if you feel your information has been compromised!

Always use extreme care when using third party apps. The more services you sign up for and the more devices you use provides criminals additional opportunities to steal your information for their personal gain.

9 Tips to Bring New Life to Your Finances

When spring is in the air, it’s time to put away those winter sweaters and pull out your summery shorts. It’s also a great time to clean your financial house, casting aside old habits and starting new ones. As flowers begin to bloom and birds return to their nests, give yourself a fresh financial start, too. 

Here are nine ways to clear the cobwebs from your wallet and get your financial plan neat and tidy for 2020.

  1. Review your spending, create a budget and set up automated savings

If you don’t have emergency savings, you’re not alone: Nearly 60% of Americans don’t have enough money to cover a $500 emergency, according to a Bankrate survey. Increasingly, workplaces are helping people to contribute to an emergency fund alongside retirement plans like 401(k) accounts, and if that option is unavailable, individuals can use direct deposit to set aside emergency funds.

  1. Throw away your debt

Debt is like that clutter in the closet that’s taking up space you need for something else, including reaching goals like buying a new home. Just as you’d go through your closet, start out by assessing the debt you already have. While you may not be able to pay everything off, with some discipline you can make real changes.

  1. Perform your own self-evaluation to keep your career growing

Take stock of where you are at work, including your salary. Check the salary range for your job, know what you’re worth and create a negotiation plan. If 2020 is the year you need to take a career break to take care of your family, think about how to maintain your skills through volunteering or continued learning while you take time off from paid work.

  1. Spruce up retirement plan contributions

If you began the year with a raise, a good bonus or even got a great tax return, you likely have already begun planning a summer vacation, started looking at new cars or making other plans. Consider setting some of that aside for the future by adding to your workplace account or in an individual retirement account.

  1. Review your tax withholding

If you got a big tax refund in 2019, it likely feels like a bonus. But it really means you were paying more than you should have last year, giving Uncle Sam money that you could have put to work for your own needs. Set up withholding so that you get the most out of your paycheck through the year without owning any money at tax time in 2021.

  1. Dust off your estate plans

Doublecheck your list of beneficiaries to see if anything has changed in the last year. A change in any relationship, like getting married, will likely prompt an immediate change. Also consider whether any life changes would impact elements of an estate plan, including any power of attorney documents.

  1. Review insurance needs

Spring is a great time to consider whether any life changes, like having a newborn or getting married, create a need for financial protection. If someone depends on your income for any number of reasons, it’s worth considering whether life insurance will work for you. It’s also a great time to review homeowners or rental insurance policies as well.

  1. Put a new shine on your financial plan (with an adviser)

Whether it’s an accountant for tax planning or a financial adviser for investment and insurance advice, it’s important to find a professional who can help you review your accounts and provide recommendations on how to best reach your financial goals. In current volatile markets, for example, it’s important to know what’s happened in your portfolio and to use any investment losses to reduce capital gains taxes.

  1. Sow the seeds of your financial future

Begin to think about financial goals for the rest of the year and beyond — what seeds can you plant today to reap the rewards you seek? Focus on what you want for yourself and your family, with a near-term budget and some long-term ideas, including saving for retirement. Do you want to go on a big family vacation this summer? In retirement, do you want to live in an urban area and volunteer? Do you want to climb mountains?

As you shake the dust off your financial plan and imagine your future, cleaning house can help you understand how much it will cost and start thinking about ways to keep you finances in order throughout the year ahead. The sky’s your limit.

Source: Kiplinger


Coronavirus Updates

Important Update on our Branch

July 8, 2020

AllCom Credit Union will reopen our branch lobby effective Monday, July 13, 2020.

We will allow lobby access to a limited number of members to ensure compliance with governmental guidance on occupancy limits and social distancing.

Prior to entering the building, please call our main number at 508.754.9980 when you arrive. We will let you know if you are able to enter right away or if you should wait in your car until we call you back.

We are strongly encouraging members to continue to use our drive-up windows along with our electronic services to perform standard transactions. While not required, appointments are also strongly encouraged to minimize wait times for new accounts, member services or loan applications and closings.

AllCom continues to follow the appropriate health guidelines of social distancing, requiring masks be worn when entering our lobby and ask that specific doorways be used when entering or exiting our building.

How we are prioritizing your safety:

The following safety precautions have been implemented:

  • Face masks must be worn when visiting our office in accordance with Governor Baker’s order.
  • Social distance floor markers and one-way enter/exit arrows have been placed in our lobbies.
  • Seating in lobby areas has either been removed or will have at least six feet of separation.
  • Hand sanitizer is available.
  • Plexi-glass barriers have been installed throughout our office.
  • Our restrooms are closed to the public until further notice.
  • We request that trips be limited to one person per household whenever possible.

If you have questions, please do not hesitate to contact us at 888.754.9980.

AllCom will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.

We are here for you.

May 12, 2020

AllCom is here to help you during these difficult times. Our team is ready to assist and help find the right solution for you.

We understand the uncertainty you may feel during this time and we are here to help. If your finances have been affected by COVID-19 and you are experiencing a financial hardship, are concerned about your financial well-being or are looking to better understand your financial options, please contact us.

Governor Baker issued an order, effective Wednesday, May 6, requiring face masks or cloth face coverings in public places. To ensure your safety, as well as the safety of others, AllCom is strictly enforcing these guidelines for any person entering the branch. Click here to learn more.

Be aware that criminals are attempting to exploit COVID-19 worldwide through a variety of scams. Click here to learn more about recent fake texts and robocalls.

Debit Card Fraud Alerts via Text

As a reminder, AllCom Credit Union will send you debit card fraud alerts via text message, telephone and Email. We will NEVER ask you to click on a link or enter your card information.

If debit card fraud is suspected, you will receive a text message and Email. You can communicate with our fraud department in real time and will be asked to respond Yes or No to confirm the legitimacy of a transaction.

Text messages will be sent between 8am and 9pm. If a transaction is declined outside of these hours, please check your email for more information.

To ensure you receive these messages, please contact us to update your information with your cell phone number.

Free Weekly Credit Reports

During these times, accessing your credit is especially important. Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021. These reports do not contain your credit score. Click here for more information.

If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at

AllCom will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.

We are all in this together.

April 6, 2020

We understand the uncertainty you may feel during this time and we are here to help. If your finances have been affected by COVID-19 and you are experiencing a financial hardship, are concerned about your financial well-being or are looking to better understand your financial options, please contact us.

AllCom is here to help you during these difficult times. Our team is ready to assist and help find the right solution for you.

AllCom cares about your financial health and wants to ensure you don’t fall victim to a scam. Scammers are taking advantage of fears surrounding the Coronavirus. Though the reason behind their fraud is new, their tactics are familiar. Learn more about how to protect yourself.

If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at

We are all in this together. We will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.

Coronavirus Update – Information about the branch

March 17, 2020

AllCom Credit Union has been consistently monitoring the recommendations of the CDC and local authorities. As a result, we have decided to close our main office branch lobby at 36 Park Avenue.  Although this was a difficult decision, we know it is in the best interest of the health and safety of our employees, our members, and our community.

Effective March 18, 2020 our lobby will be closed to the public. The drive-up teller will still be open during normal hours.

Our staff will still be available to assist you via the telephone. In-branch visits will only be allowed by appointment and for loan and mortgage closings when necessary. Please call 888.754.9980 to schedule any in-branch assistance you may need. 

AllCom is here to help you during these difficult times. If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at

Please take a minute to become familiar with our remote services and contact us if you need any assistance:

Please continue to visit our website for the most up-to-date information regarding how the Coronavirus may affect AllCom’s functions and services.

We want to reassure you that all deposits are insured in full. The National Credit Union Administration (NCUA) insures up to $250,000 and the Massachusetts Credit Union Share Insurance Corporation (MSIC) fully insures the deposits in excess of the federal limit of $250,000. Click here for more information.

We want you to know that the health and safety of our members, employees and their families is always our top priority. We will continue to take the proper precautions to ensure our member’s needs are continually met.

Please stay safe and healthy.
AllCom Credit Union Staff

Coronavirus Update – A Message to Our Members

March 16, 2020

At AllCom Credit Union, we care about more than your financial health. We care about your total well-being. We would like to reassure you that we are continuing to closely monitor the situation and the health, safety and service of our members and employees is always our top priority. 

At this time, our operating hours have not been affected. However, we understand you might be taking more precautions and limiting your face-to-face activities outside the home. With this in mind, we wanted to remind you of functions and services available online and by phone.

Banking Remotely with AllCom Credit Union:

AllCom has all the tools you need to manage your accounts without needing to visit one of our physical branch locations.

This includes:

We continue to implement the following practices and policies in our branches to prevent the spread of illness and keep our members and our employees healthy:

  • Hand washing – Regular and thorough hand washing is one of the best ways to prevent the spread of viruses and bacteria.
  • Hand sanitizers – Our locations are equipped with hand sanitizers and wipes for members to use. Be sure to wash hands or use sanitizer before and after any transactions, including physical currency exchange or payments, card usage, and ATM transactions.
  • Disinfect – We are thoroughly wiping down countertops, surfaces and door handles throughout the day.
  • Employees – Our employees may use sanitary gloves when handling transactions as a precaution.
  • Keep Your Distance – We ask employees and members to limit physical contact with others to prevent the spread of illness.
  • Stay Home – Employees who do not feel well and exhibit signs of illness are asked to stay home and recover. If you’re not feeling well, you should stay home too!

AllCom Credit Union will keep you informed as updates become available. We send our hope that you and your loved ones remain healthy and we are here to assist in any way we can.

Visit the Centers for Disease Control and Prevention – for more information and updates regarding the Coronavirus.

8 Questions to Ask When Buying a Used Car

Buying a used car doesn’t have to be nerve-wracking or expensive. You just need to know what you should be asking throughout the process. These eight questions can help you find an affordable used car that will keep you on the road for years to come.

Questions to ask yourself
Before you even start debating the relative merits of a sedan versus an SUV, you need to ask yourself some important questions. 

  1. How much work am I willing to do to get a deal?
    When you buy a used car, you can spend money and save time by making a purchase from a reputable local dealer — or you can spend time and save money by buying direct from a local private seller. Whether you purchase from a dealer or a private seller, you can often find better deals if you broaden your search to include nearby cities.

  2. What is my budget?
    Whether you plan to pay cash for your used car or you expect to take on an auto loan, you need to start with a good look at how much car you can afford. If you don’t have the full cost of your new-to-you car saved up, make sure you have calculated the monthly cost of financing the vehicle.

    Of course, your monthly car payment is not the only cost associated with buying a car. You will also need to calculate your insurance costs. Different vehicle models can have different insurance premiums. In addition, different vehicles can require varying levels of maintenance and the cost of parts, labor, and repairs can be higher or lower depending on which car you choose.

  3. How will I finance this purchase?
    If you are planning to finance, don’t wait until after you’ve found the car you want to get your financing in place. Whether you are purchasing a car from a dealer or a private seller, having your financing secured ahead of time gives you an important bargaining chip. You will be empowered to negotiate with the seller in the same way that a cash buyer could. You will not be stuck with the terms offered by the dealer’s financing options, and you will make it clear to a private seller that you are a motivated buyer. Get approved today!

Questions to ask the internet
Now we get to the fun part. You’ve figured out your budget, so you can start looking online at local (or not-so-local, if you’re willing to travel for a deal) used cars for sale. But rather than just make a list of possibilities in your price range, don’t forget to do a little research on the particular makes and models that you are planning to test drive.

  1. What are common problems with this make and model?
    Automotive engineers and manufacturers are not perfect, which means there can be common problems with certain models that are predictable if you know a little about the brand. While not all common problems are costly, it is always a good idea to know as much as possible about the known complaints about your potential purchase before you even go for a test drive.

Questions to ask the seller over the phone
At this point, it’s tempting to just go test drive the cars on your finalist list. But before you do this, you should pick up the phone and have a conversation with the dealer or seller. Here are some questions you can ask to help you narrow down your search before committing to a test drive:

  1. Can you tell me about any recent maintenance or repair?
    A used car has a history, which means there must have been some maintenance, and possibly some repair. You want to find a seller who is able to tell you what kinds of maintenance and repairs were recently done. If the seller claims that the 10-year-old vehicle you’re interested in has needed nothing but oil changes, that could be a red flag, particularly if you know what common problems crop up on that make and model.
  1. Can my mechanic look at the vehicle before I make my final decision?
    If the answer is anything other than yes, hang up the phone and move on.

Questions to ask your mechanic
Once you’ve narrowed down the options, it’s time to let your trusted mechanic give it a once-over. Since your mechanic may not feel comfortable just giving you a thumbs up or thumbs down, here are two questions to ask to help you decide if the car is right for you:

  1. Did the owner do a good job of maintaining this vehicle?
    A well-made car that was poorly maintained may be a worse bet than a mediocre car that was lovingly maintained. Your mechanic will be able to tell you if the previous owner stayed on top of necessary regular and irregular maintenance.

  2. Did the previous owner use cheap parts or good parts?
    Not all car parts are created equal. A previous owner who did repairs with low-quality, cheap parts may have done a disservice to the car (and the next owner). Other than taking the car completely apart, there will be no way to know if all replacement parts were high-quality — but asking if the easy-to-check parts are good quality can be a decent indicator that the previous owner took good care of the vehicle.

Source: Wisebread

8 Ways to Keep Your Money Saving Goals in 2020

Pop quiz: If you had a medical emergency or your car blew a tire, would you have enough money saved up to cover it? If your answer is no, you’re definitely not alone. In fact, almost 28% of American adults have no savings, while only 25% have a so-called rainy-day fund—albeit one that can’t cover three months’ worth of living expenses, according to Bankrate’s most recent Financial Security Index.

With New Year’s resolutions on everyone’s minds, you may be thinking about how you can spend less and save more in the coming year. Here are some easy ways to keep you on a money-saving track all the way to 2021, and beyond.

Have a Goal

You’re much more likely to change your spending habits if you’re saving with something specific in mind. It could be something as large as a two-week vacation or a down payment on a house—in which case, you can also mentally prepare for what will be more of a savings marathon. If your focus is on (relatively) smaller items like a new laptop or winter coat, consider it more of a sprint—and once you achieve it, you should add something else, big or small, to your wish list.

Track Non-Essential Spending

Regardless of how big your target figure is, you need to see where all of your dollars are going before you can figure out how much you’ll be able to put away. To do this, on the first day of next month, look at what you spent the previous month, putting essentials and non-essentials into different buckets. Consider what you could forego and commit to socking that money away. For example, can you skip takeout twice a week and cook at home instead? As for the actual figure you should be saving, 10% to 20% of your income each month is a good benchmark.

Get Rid of High-Interest Debt

There’s no one-size-fits-all solution when it comes to high-interest debt, which is most commonly associated with credit card bills. Assuming you have a little money squirreled away in an emergency fund, high-interest debt is the first thing you should tackle before meeting long-term savings goals. On the other hand, if you have no emergency fund to speak of, start there before paying off high-interest debt.

Make It Automatic

Every month, schedule a recurring amount of money to be transferred regularly from your checking account to a linked savings account. This tactic relieves you of having to remember to make a deposit and reduces the risk of you spending the money before it’s saved. Even better: If you can, arrange to have part of your paycheck directly deposited into a savings account so that it never hits your checking account at all. And if you have access to an employer-sponsored retirement plan, make automatic contributions to that as well.

Stick to the 24-Hour Rule

We’d be willing to bet that you buy more things online than at a store—which means you also know how tempting and easy it is to constantly visit your favorite online shop to see the latest inventory. The solution to avoiding impulse buys? Impose a 24-hour limit on hitting the “buy” button after placing items in your cart. Chances are good that by the next day, you’ll decide you don’t need them after all.

Don’t Spend “Found Money”

Whether you’re lucky enough to have grandparents who gift you $100 for your birthday or typically receive an annual tax refund, it’s best to put this money toward your savings goals rather than spending it. After all, it wasn’t there before, so you’ll never miss it. This applies to raises, too. Rather than spending more, put the difference into savings.

Consider Accounts With Tax Benefits

If your goals don’t require needing cash in the next one to three years, look into accounts that offer tax advantages. For longer-term goals like college and retirement, funding IRA accounts will give you tax savings and allow your money to grow over time through investments. (Note that before opening any new accounts, it’s always good to consult with your tax advisor.)

Don’t Go It Alone

Saving money isn’t always easy—if it were, there wouldn’t be so many articles written about it!—but if you know a friend, family member, or co-worker who is also trying to save, pairing up may help motivate you to stick to your plan. You can share progress, commiserate over hurdles, and have someone to lean on for support.

Source: The Muse

Financial New Year’s Resolutions for 2020

Looking to make some financial New Year’s resolutions for the coming year? Here are a few money resolutions to consider.

Resolve to do better next year.
The new year is a fantastic time to review your financial strengths, pore over your budget and make big plans for next year. Consider taking a moment to meet with your financial advisor or tax professional to review what worked this year and make changes for the year ahead.

Identify financial goals.
Before you can make progress toward any financial goals, identify what they are. Are you hoping to earn a degree? Buy a home? Repay your auto loan? Finally contribute to your employer 401(k)? Take some time to mull over what financial qualities you can improve this year. 

Start tracking your budget.
Before you commit to sticking to a budget, commit to track your spending each month. Spend some time identifying budgeting leaks, spending categories on which you tend to sink too much money and decisions about how to improve your spending for next year.

Check your credit report.
If you’ve stopped paying attention to your financial health, request a free credit report on this year. Consumers are entitled to one free credit report each year from each of the three credit bureaus, which are Equifax, Experian and TransUnion. If everything looks correct, this exercise shouldn’t take more than an hour. Take stock of your debts and dispute anything that looks incorrect.

Boost retirement contributions.
If you’re looking to put money away for retirement, commit to boosting your 401(k) contributions. At the least, contribute enough to your workplace plan to secure your employer’s match, which is typically between 3% and 6%, if one is offered. Forgoing an employer match is like leaving free money on the table.

Cut back on bad money habits.
Identify a bad financial habit – eating out too often, paying full price for clothing, splurging on your pets – and promise to eradicate it this year. Identify alternatives or coping mechanisms when you want to indulge in your bad financial habit.

Evaluate last year’s financial mistakes.
Take an honest look at your financial performance last year. Did you overspend? Overborrow? Get passed over for a promotion? Not every financial downfall is avoidable, but some can be dodged or limited going forward. Reconsider your financial mistakes, and strive to perform better this year.

Source: U.S. News


Coronavirus Update: Click here for more information about the branch. Click Here.