“Two-Dos” for Financial Health

How exactly do you get your finances where you want them? Everyones situations and goals are a little bit different, but these two financial health to-dos are a great place to start.

#1 CHECK UP ON YOUR CREDIT REPORT

A great credit score makes it easier to get credit and can make you eligible for lower interest rates, saving you money in the long run. A low score typically means you’ll have to pay higher interest on a loan, or could lead to denial of credit. It’s not the only way to measure your financial health, but it is an important factor.

It’s a great idea to check your credit report regularly. As a Fortera member, you now have instant access to your credit score and credit report, along with personalized tips on how to improve your score or maintain an already great score. Log in to Online Banking and check your FREE score today. Checking your score through this new tool is considered a “soft inquiry” which does not affect your credit score. Click here to learn more. You can also pull a free credit report once a year from AnnualCreditReport.com.

WHAT TO LOOK FOR

• Check your name, social security number and contact information.
• Make sure all the accounts and credit inquiries on your report are truly yours.
• Look to see if the payment histories, balances and account status are all correct.

If you find mistakes, file a correction with the credit reporting agency on their website.

#2 MAKE A PLAN

One of the most important steps toward strong credit and financial health is to make sure you
pay your bills on time. A budget can help you stay on track.

• Add up all your income sources to find out how much money you have each month.
• Write down all your bills and expenses.
• Prioritize to decide what is non-negotiable.
• Plan for how much money you will devote to your bills, living expenses and savings.

By setting your budget in advance, it’s easier to manage your money to meet your goals.