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Routing # 307086691 | Wiring Instructions

Monday Messages

Spring Clean Your Finances

WyHy members, it's time for some financial spring cleaning! Just like you clear out the dust and grime from your home, it's also important to tidy up your finances to make room for a cleaner, fresher, and happier financial future.

Here are some ways to get started:

  1. Clean Up Your Paperwork: Say goodbye to paper statements and hello to paperless ones. You can easily track your finances with your statements all in one place and reduce physical clutter in your home. Don't forget to scan your current documents and back them up through an automated cloud backup service and/or an external hard drive. When you discard any financial or personal documents, shred them to avoid identity theft.
  2. Refresh Your Budget: Reframe how you look at budgeting; don’t think of it as sacrificing, but rather prioritization based on what’s important to you. Review your budget, note whether you're spending within your limits or overspending in specific categories, and look for areas you can cut back such as impulse buying, lower insurance rates, or canceling unused subscriptions. To learn more about budgeting, check out our online budgeting tool.
  3. Declutter Your Debt: List out your debts, including the balance, due date, and interest rate for each. Come up with a plan for how you'll pay it all off, and consider debt repayment strategies such as the debt snowball or debt avalanche method if you're shouldering substantial debt.
  4. Adjust Your Tax Withholding: Revisit the withholdings on your W-4, especially if you got a tax refund last year or owed the IRS money. Aim for a $0 tax bill come April 15th and adjust your income tax withholding with your employer as necessary. Consider consulting with a tax professional if needed.
  5. Review Your Credit Report: Pick through your credit report and look for errors, as credit bureaus can make mistakes. If you find any, follow the simple process of disputing credit report errors, which is free and requires little effort on your part. If you use WyHy's Mobile Banking, you can find your current FICO score as one of the main menu options.

A clean home and clean finances don't happen by mistake. Set aside some time this spring to review your finances and make the necessary tweaks. Follow these tips to make your finances sparkle!

We're with you!