Automate Your Savings
Saving money becomes easier when it runs on autopilot. Automatic transfers remove the need to think about saving every month. As a result, you build savings and investments without extra effort.
What You Need
To begin, you need internet access and a bank account that receives your paycheck. You also need a savings account, money market fund, or investment account. Keep your routing numbers ready.
How to Set It Up
First, sign in to your bank account and select “Transfers.”
Next, create a recurring transfer to your savings account for emergency funds.
Then, set up another transfer to your brokerage or mutual fund account.
Overall, this process takes about three minutes.
Set Up Credit Card Payment Alerts
Late fees can add up quickly. In fact, missing a single payment can cost up to $39. Payment alerts help you avoid unnecessary charges.
What You Need
You will need internet access and your credit card login details.
How to Set It Up
For example, log in to your credit card account and open Account Management Options.
Then, select Payment Alerts and turn on payment reminders.
You can choose to receive alerts one to ten days before the due date.
This setup usually takes about seven minutes.
Avoid Overdraft Fees and Bounced Checks
Overdraft fees can be costly. Each overdraft may cost up to $38. Therefore, setting up protection is a smart move.
What You Need
Before you start, gather your Social Security number, bank account number, and personal details.
How to Set It Up
First, visit your bank’s website and select Overdraft Protection.
Next, link your checking account to a savings or money market account.
Additionally, sign up for balance alerts to get warnings when funds run low.
If needed, a bank representative may contact you to complete the setup.
IDENTITY THEFT AND CREDIT MONITORING:
Get your credit scores
Good scores and a good credit history can get you a great loan rate. A bad record could keep you from getting one at all.
Ingredients:
• Internet access.
• Social Security number.
• Date of birth.
• Address.
Instructions:
• Go to AnnualCreditReport.com, select your state, click on “Request Report” and provide the information requested.
• You’ll be guided to each of the three major credit bureaus’ sites to answer a few more questions.
Each bureau gives you the option to get a credit score (for $7.95) with each report (free every 12 months).
Total time: 13 minutes.
Source
