Is your financial house in order? The Consumer Financial Protection Bureau (CFPB) has some great tips on helping you have control of your finances during financial awareness month.
You can determine your financial health by finding the answers to these questions: What are your sources of income? Do you know how you spend your money? What is your debt? Do you know your credit score? Once you know this information you will have control of finances.
Financial tips from the CFPB:
- Find a system that allows you to track your daily spending on an ongoing basis.
- Write your bill due dates on a calendar; this helps in planning your payments.
- Create a budget.
- Apply only for the credit you need.
- Set up an annual reminder to check your credit report.
- Set up alerts to stay on top of your checking account balance. This helps you monitor your accounts and protects you from additional overdraft fees.
- If you can’t make a payment, call your creditor before your due date to learn what options may be available.
- When shopping for a loan, get at least three quotes to best compare terms and fees.
Take the CFPB quiz to measure your financial well-being. https://www.consumerfinance.gov/consumer-tools/financial-well-being/
Check out WIN’s financial literacy and homebuyer class information at https://wincincy.org/all-events-calendar.