Everwise Credit Union provides 5 valuable financial tips for success

Providing customers with the best financial advice is what Everwise Credit Union is all about. The credit union has been putting people first since 1931, equipping them with the tools and confidence to succeed.

Jeff Sobieralski, Member Financial Wellness Director at Everwise Credit Union, understands the significance of providing quality financial support that allows people to pursue their goals and passions.

 “We treat everyone the same way, assuring them that they matter to us,” Sobieralski said.  “We’re continuously learning and sharing our expertise to help people make sound decisions. It’s important for us to try to be accessible and welcoming.”

Everwise Credit Union is always looking out for the financial wellness of its customers. 

Here are their five tips for financial success.

Set clear financial goals

The best way to start is by setting clear financial goals. Consider what you want versus what you need for both big and small objectives. This is crucial to help you prioritize the most important pieces and how to allocate your resources effectively to achieve these goals.

Well-defined goals help create a sense of direction and purpose for all customers. It can not only boost your confidence to tackle the year ahead but also provide a roadmap of your financial journey to easily track your progress and stay motivated.

Develop and stick to a spending plan

Once you have a framework for your goals, you can take the next step by looking at your spending plan. Taking control of finances helps to create a daily routine that leads to an efficient lifestyle.

“I recommend that individuals develop and stick to a spending plan or a budget,” Sobieralski said. “You want to ensure that you are living within your means. By planning how to allocate your money, you can prioritize essential expenses, save for the future, and avoid unnecessary debt.”

Start an emergency fund

An emergency fund will help insulate and safeguard your finances by acting as a financial buffer. When financial uncertainty comes into the picture, this allows a stress-free method for managing unexpected surprises that bring financial challenges.

The presence of an emergency fund is critical for covering emergency situations. This provides customers with a safety net for situations such as medical bills, car repairs, or losing a job. 

Automate your savings and investments

Creating automation for savings and investments will establish regular transfers into your investment account. It helps build healthy habits and a consistent strategy that can be easier to manage.

“Automating your savings and investments is a great strategy for ensuring consistency and building wealth over time,” Sobieralski said. “Setting up automatic transfers can help you make savings into a habit and remove the temptation to spend that money. This helps you stay disciplined and ensures that you are consistently putting money aside, regardless of other financial demands.”

Educate yourself with financial literacy

Being educated with financial literacy is crucial for making informed and effective decisions about your money. Understanding concepts such as savings, managing debt, and budgeting empowers you to take control of your financial future. It also helps you avoid traps like high-interest debt.

“Savings has become more crucial than ever with the rising cost of living,” Sobieralski said. “It is essential to try to stay ahead financially. It can help you ensure stability and security in the future, allowing you to handle those unexpected expenses.”

This allows you to plan for milestone moments such as purchasing a home, paying for higher education, and planning for retirement. With financial literacy, you can build a strong foundation for financial stability, reduce stress-related finances, and make achieving your goals even easier.

With these five tips, Everwise Credit Union can assist with budgeting, prioritizing, and laying out financial plans to help each individual best accommodate their goals. The credit union has free financial literacy modules to help people increase their financial education.

For more information on Everwise Credit Union, you can visit its website.