Tips to Start the New Year Right
Every New Year is another chance to start anew. Maybe you plan to eat healthier, find a new job, or make new friends. Whatever your plans, setting the foundation for a prosperous year begins with some solid financial ideas and advice. We’ve compiled a handful of easy-to-do financial tips to start your new year right.
Get a Good Shredder
Shredding your financial statements and other sensitive information is a good way to help protect your family from identity and credit fraud. Be sure you get a shredder that cuts your documents down into small pieces rather than long strips that can be put back together.
Buy a Document Scanner
One of the best things to go along with your shredder is a document scanner. These devices make it easy to scan a bill or statement into your computer for safekeeping. Plus, it’s a great way to reduce piles of paper and clutter. Some document scanners can also scan personal photos at high resolution. If you have boxes of printed photos, this could be your chance to finally digitize them.
Buy a filing system and organize your tax documents, important documents (such as birth certificates), receipts, warranty information, and more. Start by labeling six folders. Your first set should be Monthly Bills, Tax Returns and Documents, Receipts, Warranties, Family Documents (Social Security, etc.), and Insurance Documents. Besides the monthly bills, these are all things you will want to keep for years at a time, if not forever.
Review Subscriptions and Recurring Payments
Are you paying attention to all your monthly bills that are automated? Recurring monthly subscription services are more common than ever and can add up quickly. The new year is the perfect time to take inventory of all of your streaming services and other subscriptions and decide which ones are a must and which you could do without.
Start Using a Credit Card for Purchases
Cards like the Rivermark Cash Back Visa offer a buffer between your family finances and the outside world. Plus, some cards offer cash-back and point-based reward programs. Just be sure to choose a card that fits your lifestyle and needs.
Clean Up Your Finances
This can include merging your accounts at other financial institutions into one location, consolidating debts, refinancing your auto loan and home loan, and opening up several savings accounts to better prioritize your financial goals.
Put your Rivermark membership to work for you throughout the year. Apply for your own credit card, open a new savings account, a free checking account, or simply get some solid financial advice at any branch location, or over the phone at 503.626.6600 or 800.452.8502.
Make Informed Decisions About Your Finances
We recognize that mastering money and finances is a continuous journey. That's why we want to provide you with the tools to create a bright financial future. No matter where you are in your financial journey, there is always room to learn. Visit our Financial Wellness page for more articles and resources on a variety of financial topics.