- Fall Financial Goals
Fall Financial Goals
Fall is here and while it is quite different than normal, it’s still a great time to reflect on your individual financial situation and prepare for next year. To get ready for this upcoming year, take a look at your earnings, budget and spending. Set up your personal finance goals for the coming months by making reasonable choices now. Here’s how you can prepare for 2021 during a different kind of fall season:
1. Check Your Emergency Fund
Having an emergency fund can be one of the biggest forms of protection in case of crisis, like losing your job or getting injured. Ideally, you should try to save anywhere between three and six months’ worth of expenses. Saving might be difficult right now, but any little bit helps.
2. Clear Up Your Credit Report
All three major credit bureaus — Experian, Equifax, and TransUnion — are offering free weekly credit reports through April 2021. This lets you check your report, dispute errors, and track progress to see when errors have been removed.
3. Update Your Budget
Over the past few months, your spending habits may have changed. For example, if you are working from home, you’ve most likely spent less on gas but more on electricity. Take a look at your spending and create a budget that reflects your new normal and work towards to short-term goals.
4. Prepare for the Future
Right now, seeing past tomorrow may seem daunting or even impossible, but the more you can think about the months ahead, the more you can prepare. Keep retirement, education and health top of mind when thinking about your future financial needs.
Eliminate the Surprise
The Great Western Bank Money Management Tool can help you budget, track spending and take control of your finances.