Of course, that\u2019s easier said than done. Use these simple (and impactful) resolutions to get started, and you\u2019ll hit your money milestones before you know it!<\/p>\n\n\n
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<\/figure>\n<\/div>\n\n\n1. Review Your Finances<\/h2>\n\n\n\n
The beginning of the year is ideal for taking stock of your finances. Find out what you\u2019re spending and why, then plan what you\u2019re going to change. That might sound simple enough, but don\u2019t be fooled. Depending on how you do it, this one can be easy peasy or the most challenging of the four financial resolutions.<\/p>\n\n\n\n
Why? Because of a principle called activation energy<\/a>, or what famous life coach Mel Robbins calls The Five-Second Rule<\/a>. It essentially says that the most difficult part of any task is the first few seconds <\/strong>because you spend the most energy at the beginning when you\u2019re forcing yourself to start \u2014 whether that\u2019s budgeting, going to the gym, or even getting out of bed early. \u201cIf you don\u2019t marry [your goal] with an action in five seconds,\u201d Robbins says, \u201cyou pull the emergency brake and kill the idea.\u201d<\/p>\n\n\n\n If you\u2019re confident that you can and will<\/em> examine your spending at the beginning of the year, do it today. Now, if possible. If you can\u2019t do that, set a reminder in your calendar. The important thing isn\u2019t finding enough time; it\u2019s starting now, no matter how small your first steps are.<\/p>\n\n\n\n If you don\u2019t marry [your goal] with an action in five seconds, you pull the emergency brake and kill the idea<\/mark>.<\/p>Mel Robbins, bestselling author and life coach<\/strong><\/cite><\/blockquote><\/figure>\n\n\n\n Now the easy way: <\/strong>Use those five seconds of activation energy to get a financial review! Stop by your local branch<\/a> or VideoChat<\/a> with us now.<\/p>\n\n\n\n This strategy works for a few reasons:<\/p>\n\n\n\n Automatic savings knocks two birds out with one stone. When your recurring transfers are set to move to savings automatically, you eliminate the possibility of human error. Computers, as finicky as they can be, won\u2019t forget to move part of your paycheck to savings.<\/p>\n\n\n\n In the finance industry, we call this paying yourself first.<\/strong> When you get paid, schedule a part of your paycheck to transfer into savings, then pay your bills. The rest of the check is yours to spend guiltlessly, however you see fit. It\u2019s much less stressful than hoping you\u2019ll have enough for savings by the end of the pay period, trust us.<\/p>\n\n\n\n Automatic savings also helps you instill discipline into financial resolutions by treating savings as a non-negotiable expense. This mindset helps you build your emergency fund<\/a> and reach other goals more efficiently, fostering a habit of regular saving without relying on manual effort.<\/p>\n\n\n\n Simply click \u201cTransfers\u201d under the \u201cTransfers & Pay\u201d menu. It\u2019s that easy!<\/p>\n\n\n\n While it may or may not be possible to fill your emergency savings at the beginning of the year, you can optimize your savings<\/a> account so that it can tick off your financial resolutions for you. Beyond automated transfers, your emergency savings (whether existent or not) can benefit from two other strategies: concealing specific accounts and choosing the right type of savings account.<\/p>\n\n\n\n The ideal emergency savings strategy gives you immediate access to your funds while simultaneously encouraging you not to use them. When you hide your savings account from your main eBranch Online Banking screen, you can still automatically deposit money, but you\u2019re less likely to use it as a back-up checking account.<\/p>\n\n\n\n To hide an account, navigate to the Tools and Services menu on your phone or desktop. Click Settings > Accounts<\/em>, then click the eye icon next to the account you\u2019d like to hide. Follow the same steps to make the account visible again.<\/p>\n\n\n\n Not all accounts look alike. In fact, ICCU offers over a dozen savings accounts, all with their own advantages. When it comes to choosing the right savings account for your situation, it\u2019s important to weigh their features against your goals.<\/p>\n\n\n\n Central Cents<\/a> is perfect for those who want saving to be as painless as possible. When you open a Central Cents Savings Account, your ICCU debit card purchases are automatically rounded up to the next whole dollar amount and deposited into your savings.<\/p>\n\n\n\n A High-Yield Online Savings Account<\/a> (HYOSA) can be a great option for those who want to earn interest without decreasing their monthly withdrawals:<\/p>\n\n\n\n A Choice Savings Account<\/a> allows you to save for a specific purpose and limits your withdrawals so you’re not tempted to dip into your savings.<\/p>\n\n\n\n Most people know that a high credit score can earn you better loan approvals and interest rates, but monitoring your credit has plenty of other benefits:<\/p>\n\n\n\n If you\u2019re an ICCU member, you have FREE access to your credit report. To activate this service, simply click My Credit<\/a> in mobile or online banking. Once you do, a credit widget will appear below your accounts so you can check your score as easily as you check your balances.<\/p>\n\n\n\n Truth be told, it doesn\u2019t really matter which financial resolution you choose. So long as you pick a small goal you can easily achieve, you\u2019re setting yourself up for success. Feel free to start with one of the goals above and customize it to better fit your lifestyle. Not sure where to start? Click the button below to find your nearest branch and get a financial review today, or VideoChat<\/a> with us from the comfort of wherever you are.<\/p>\n\n\n\n\n
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<\/figure>\n<\/div>\n\n\n2. Make Savings and Transfers Automatic<\/h2>\n\n\n\n
How to Set Up Automatic Transfers in eBranch<\/h3>\n\n\n\n
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<\/figure>\n<\/div>\n\n\n3. Create or Optimize Your Emergency Savings<\/h2>\n\n\n\n
Hide Savings Accounts from Your eBranch Accounts Page<\/h3>\n\n\n\n
Choose the Right Savings Account<\/h3>\n\n\n\n
Central Cents Savings Account<\/h4>\n\n\n\n
Central Cents Features<\/h5>\n\n\n\n
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High-Yield Online Savings Account<\/h4>\n\n\n\n
HYOSA Features<\/h5>\n\n\n\n
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Choice Savings Account<\/h4>\n\n\n\n
Choice Savings Features<\/h5>\n\n\n\n
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<\/figure>\n<\/div>\n\n\n4. Keep an Eye on Your Credit<\/h2>\n\n\n\n
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The Bottom Line on Financial Resolutions<\/h2>\n\n\n\n