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4 Mid-year Money Resolutions

July 5, 2017 We all do it. We promise ourselves this will be the year we spend less, save more and embrace our best selves, but sometimes…life has other plans, and that’s okay. But don’t worry. It’s not too late to get back on track to financial freedom and put this year in the win column. Not sure where to start? We’ve got you covered with these mid-year resolutions for better money management.
  1. Create a budget. Estimate your incoming cash flow. This will be your boundary when setting your budget. Then, start tracking your spending. Daunting, we know. Make it easier with a that does the math for you. Your budget should include fixed payments, like rent, as well as variable expenses, like food and entertainment. And don’t forget to make saving a part of your financial routine–start with a small chunk each month and then level up gradually, on your terms.
  2. Build your savings. Whether you’re just starting to put money away, or you’re in a consistent saving routine, it’s never a bad time to build savings. A good goal to work toward is three months’ worth of living expenses saved. This is enough to keep you going in an emergency, like losing your job, or to cover an unexpected expense, like car repair. If you’re worried about sticking to a savings plan, set up . You could also get your savings growing with a certificate or money market account from Summit. These have higher interest rates, which means you earn more for your money.
  3. Pay down debt. It’s tempting to put debt on the backburner, but ignoring debt will burn you in the long run. Student loans have especially high interest rates, which means you should pay them off as quickly as possible. Strive to pay more than the minimum every month, even if it means tightening your monthly budget. It will be worth it down the road when you have the freedom to pursue your other financial goals, like traveling or owning a home. You can also consolidate your student loans with Summit for added savings.
  4. Get money smart. This is your chance. Six months is plenty of time to make a financial change, and with Summit you have all the tools you need at your disposal. Read up on spending, saving and everything in between on our . Attend a or even . Then, take what you’ve learned and make the next six months the best six months of your financial life. 
Questions? Summit is here to help all year long. Get inspired with tips, tricks and real-life success stories on our . You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA