Shape up your finances for 2021

Person jumping from one cliff to another blog 2020 2021

Each week FCCU gives you a jump start on your financial goals and how to achieve them for 2021!

Attainable financial goals you can reach in the New Year.

A New Year has come, which means 365 days of new opportunities to reach our goals and commit to our resolutions, whether they’re personal or financial.

We challenge you to get a jump start on your financial goals by checking off as many of the 16 goals we post.  You may have some of these tasks already in place and that’s great that you’ve taken your financial goals into your hands! Whether you’re just now starting to take control of your finances or are looking for new ways to take it to the next level, here’s the push you need to make those dreams a reality!

Of course, FCCU is by your side as you navigate your financial journey. If you ever have a question or need some financial guidance, our Certified Financial Counselors are always here for you. To find a Certified Financial Counselor nearest you, click here.


Week 1:
  • Enroll in Bill Pay
  • Set up Low Balance Alerts in FCCU Card Manager 
    • If overspending is something you want to work on in the New Year, log in to FCCU Card Manager and set up alerts to give you a heads up when your account balance drops to a certain amount set by you.
  • I want to save a minimum of $___ this week  
    • Choose an amount you feel you can comfortable save every two weeks or a month to start up your emergency fund.
  • Set up a budget (Check out our overview of the 50,30,20 budget here)

Week 2: 
  • Pay off your credit card debt by __% 
    • ​If you credit card is maxed out, set small goals to begin to pay off your balance. Something even as small as 5% can start to put you on the right track. Increase that percentage each month, if you can, until you reach your goals. Whether that’s paying it off completely or keeping the utilization under 30%. 
  • Evaluate last year’s financial mistakes 
    • ​Like most of us, we may have made one or two unwise financial decisions last year. Think back to what those were and you might be able to change or avoid that this year. 
  • Schedule an appointment with a Financial Counselor 
    • You may find yourself having certain financial question and may feel too nervous to ask. Our Certified Financial Counselors are here to help to talk through any situation you may find yourself in. From building a simple budget to planning for the future, we are here to help guide you!
  •  List out all of your bills  
    • Streaming, utilities, food, etc. Everything you spend your money on, list out on a sheet of paper  
    • This exercise is to see where your money goes and where you need to cut back on.
Week 3: 
  • If investing is on your radar:  
    • Schedule an appointment with a Wealth Advisor*  
  • Contribute to an HSA, Health Savings account. 
  • List out all of your debts 
    • Total debt, minimum payment, interest rates, terms o Prioritize the higher interest rates while keeping the minimum payments so that you can pay your debts off quicker.
  • Commit to a “no-spend” weekend  
    • Sometimes we can overspend, whether that ordering Starbucks 5 times a week or making unnecessary Target runs, consider a “no-spend” weekend to ease your way in. The idea is that you only buy necessities such as pay your bills or buy groceries. Instead of spending money on items that are considered wants (yes, that also includes eating out), put the money towards a bill or save it!
Week 4: 
  • Subscribe to a personal finance podcast or read your favorite personal finance book!  
  • Open a Christmas Club account 
    • Don’t get caught mid-November realizing you haven’t stashed away money for Christmas gifts for the year. If you find yourself scrambling at the last minute or charging everything on a credit card, open a Christmas Club account to get a predetermined amount of money deposited into your Christmas Club account.  
  • Increase your retirement plan contributions  
    • Even just a 1% increase to your retirement plan can make a big impact in the long run. If your employer matches your contributions up to a certain percentage, take advantage of that so you are not leaving free money on the table.  
  • Make a plan to improve your credit score 
    • Credit scores aren’t the end of the world and can be improved with time. To help get you started on improving your credit score check out our credit score blog posts here.
*Wealth Advisors professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty states of the United States of America. FR-3403739.1-0121-0224.

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