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Here are five tips to help you get the new year started off on the right financial foot

Posted at 1:33 PM, Jan 20, 2021

If one of your goals for 2021 is to be better with money and budgeting, Cyprus Credit Union has your back!

Chief Marketing Officer David Sant joined us with give tips to help you get the new year started off on the right financial foot.

LEAVE THE PAST BEHIND
Lamenting over your past financial mistakes isn't going to change them or make them better. Starting off the year with a fresh mindset to come up with plans and goals.
START A BUDGET
Having a budget in place will help create a roadmap for other financial decisions. There are several different methods so you can find the one that best fits you so you have a better chance to succeed.
DISTRIBUTE SAVINGS
Depending on your financial goals, it may be helpful to have several different savings accounts for different things. For example, having a high-interest liquid account is a great option for an emergency savings while a Certificate of Deposit is good for longer term savings, such as a vacation.
SET UP AUTO PAYMENTS
Set up credit card and other bill payments to be paid automatically. Not only will this be one less thing you need to think about, but you no longer need to worry about late or missed payments affecting your credit score.
REQUEST CREDIT REPORT
A credit report is a good indicator of how your financial situation is if you aren't completely sure. You'll be able to see what debts you owe as well as what lines of credit have been opened in your name. If you notice any errors, report them as soon as possible.

You can find more financial tips at cypruscu.com.