There’s a difference, for example, between “I want to increase my savings’’ and “I want to have $1,000 more in the bank by April 1.’’
Here’s how you start:
Automate as much as possible. One key way to stay on track is to make things as easy as possible. “If you don’t automate it, oftentimes things won’t get done,’’ Halliwell said.
Setting up automatic savings is easy on most bank websites. Add auto bill pay and you will take a big step toward avoiding late charges. Making payments on time is also the single most important thing you can do to maintain a healthy credit score.
Automation doesn’t mean you can avoid checking on your progress, however. At least once a month, designate a day to go over your performance during the prior few weeks, and adjust as necessary.
Check your credit reports. Everyone is entitled to one free credit report per year from each of the three major agencies, TransUnion, Equifax, and Experian.
The data in these reports are what’s used to determine your credit score. You will get a good picture of what problems exist that could drive down your credit score, like a forgotten bill that went to collections. And you may find mistakes that could be hurting your score.
By spacing the free reports out to one every four months, you can monitor your records for unexpected activity that may indicate you are a victim of identity theft. Visit www.annualcreditreport.com.
Take advantage of all your job benefits. Are you aware of all benefits offered through your health insurance? Log in to your insurer’s website to find out if you are eligible for reimbursement or discounts on health club memberships or programs to help you with weight loss or quitting smoking.
Likewise, many companies and unions offer benefits that are often overlooked, from discounts on cellphone plans and computer purchases to reduced-price travel and entertainment, pet insurance, even legal advice. Ask your human resources department or visit UnionPlus.org.
