Six Tips to Spruce up Your Finances This Summer

Summer is in full swing here in the Midwest. With it comes a flurry of activities that can take up your time and eat up your finances.  Don’t let the busyness of summer take a bite out of your financial plans. Take some time to implement some (or all) of these tips to help keep your finances healthy.

• Pay off debts – Lingering debt can wreak havoc on your financial outlook. Summer is the perfect time to create a debt reduction plan so that your finances are in good shape for the end of the year. Additionally, consider contacting your creditors to inquire about lowering your interest rate. 
• Examine and update your budget – Your financial outlook is not a stagnant thing, and your budget should not be either. Review your budget and determine where updates should be made to meet your current financial situation.
• Go mobile – Mobile banking has revolutionized the way we interact with financial institutions. McHenry Savings Bank offers customers an easy to use mobile banking app that puts your finances right at your fingertips. Download the app to your Smartphone here or contact us for more information.
• Set-up direct deposit – Many employers offer their employees the convenience of direct check deposits. This eliminates trips to the bank or even lost or stolen checks.
•  Review your credit report – With the onslaught of data breaches and credit scams, now, more than ever, it is imperative to review your credit annually (at least).  You are allowed one free report each year from each of the three credit reporting bureaus (Equifax, Experian, TransUnion). Review your reports carefully and follow-up on any errors or inconsistencies. These could have a detrimental impact on your credit score and make it difficult to obtain a loan.
• Go electronic – McHenry Savings Bank offers its customers the simplicity of e-statements as well as automatic bill paying services. E-statements eliminate the clutter and mess of paper statements and keep your financial information right at the tip of your fingers. Automatic bill-paying services ensure that you are never late on a payment. Set-up amount and date of withdrawal and rest easy knowing that your payments will be on time every month.

Are you looking for more ways to get your finances in order this summer? Contact a personal banker at McHenry Savings Bank for more great ideas.