Webinar Recap: Rebuilding After A Financial Crisis

Our November financial education webinar focused on the steps you can take to rebuild after a financial crisis. Here are the highlights:

  1. BUDGET – Analyze the money coming in and develop a reasonable and goal-oriented plan for what goes out.
    **TIP: Use a money tracker, like Money Manager inside online banking, or Mint or Quickbooks to label your spending and income.**
  2. DEBT REPAYMENT – If you relied on credit to get you through a crisis, it’s time to tackle it. Determine how much and who you owe.
  3. CREATE A PLAN OF ATTACK – There’s lots of ways to pay down debt, pick one that you can stick to – snowball, an extra $10 every week, whatever you can commit to. Lower your interest rates if you can.
  4. REBUILD – Start working your credit report. Late payments make a huge impact on your score, then debt ratios. Work with Budget Counselors (free for Green Country members) on the best way to improve.
    **TIP: Request your free credit report from each of the three bureaus on a staggered schedule so you can see your report change throughout the year**
  5. SAVINGS – When you can, start putting money back into savings and retirement plans. Even if it’s just a little bit, every bit counts and grows.

Read the full article here.

And don’t forget, you don’t have to go through financial hardships alone. Green Country members have access to professional financial counselors for FREE, so take advantage and get advice on improving your credit, creating or modifying your budget, dealing with debt and so much more.
Call (888) 456-2227 or visit https://www.greencountryfcu.balancepro.org