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April is National Financial Literacy Month, a great time to review your financial habits and make any needed adjustments.
 
It’s easy with a month’s worth of daily tips from STCU Community Development Officer Jamie Dedmon. Stick with it, and you’ll be on your way to financial freedom by the time May rolls around.

April 1 – You’re no fool. That’s why you’ve decided to get your financial matters under control. Now, gather the family and start a list of why your financial freedom is important.

April 2 - Designate a chief financial officer; one person to manage the family’s finances. That doesn’t let everyone else off the hook; there’s plenty of work to go around.

April 3 - Get your financial records in order. They should be organized in one location, in good enough order that someone outside your family could make sense of them in an emergency.

April 4 – Look over the financial planning resources available to you through MoneyCoach and the Balance Financial Fitness Program. They’ll give you more ideas for budgeting, saving and planning ahead.

April 5 - Get a free credit report at annualcreditreport.com, and a free credit score at creditkarma.com. There’s no need ever to pay for these.

April 6 - Review your credit report for accuracy. Clear up any questionable items by contacting the creditor or the credit bureau.

April 7 – Review your checkbook and other financial records to see where you spent your money last year – you’ll probably find some surprises. Jot it all down in categories, such as auto repairs, school lunches, entertainment, and holiday expenses. Later, you’ll create a budget, and this is an important first step.

April 8 - Calculate your net worth by adding up all your financial assets and subtracting what you owe.

April 9 - Understand your existing debt. Make a complete list of what you owe and who you owe it to, monthly payments, interest rates and pay-off dates.

April 10 - Set SMART financial goals: Specific; Measurable; Achievable; Rewarding; and Trackable. You should have goals that are short-term (achievable in less than two years); mid-term (achievable in two to five years); and long-term (more than five years).

April 11 - Create a monthly budget. MoneyCoach and Balance both have tools to get you started.

April 12 - Does your budget show there’s money at the end of the month but your banking account tells you different? Starting today, journal every penny that you spend to uncover any black holes.

April 13 - Start an emergency fund. STCU’s First5 Savings Account is the perfect tool.

April 14 - Make a plan to pay off your debt. Again, MoneyCoach and Balance can help.

April 15 – You’re half way there, and have accomplished a lot in two weeks. Take care of any necessary catch-up work today.

April 16 - Set up designated “bucket” accounts at STCU. These are accounts you name for specific purposes, such as auto repairs, vet bills and vacations, with automatic deposits so the money is there when you need it. You can open as many as like, for whatever needs suit your life.

April 17 – Sign up for direct deposit, payroll deduction and auto withdrawals to simplify your monthly finances.

April 18 - Brainstorm ways to reduce spending, such as bundling your electronic services, drinking home-brewed coffee and taking a sack lunch most days, instead of eating out.

April 19 - Identify ways to become a smarter shopper by using coupons, shopping at discount stores and researching products to assure you’re getting the best price possible. Two websites to get you started: BizRate.com and Shopzilla.com.

April 20 - Get your kids excited about their money by introducing them to our blogs, stcukids.org and stcuteens.org.

April 21 - Experts say it takes 21 days to start a new habit. So, you are well on your way to a new financial you! Spend today getting ready for next month’s finances.

April 22 - Start planning for your retirement goals. Check in with your employer to make sure you’re taking full advantage of your company’s retirement plan. Or, start your own retirement account with an STCU IRA.

April 23 - Develop an efficient bill-paying system. Better yet, sign up for STCU online banking and free billpay to simplify the task.

April 24 - Increase you financial knowledge. Sign up for an STCU community financial education class.

April 25 – Shred unnecessary documents and file those you need to save. It’s key to reducing clutter and staying organized.

April 26 - Review the journal you started on April 12 for unplanned spending. Any surprises?

April 27 - Review the budget you started on April 11 and make any necessary adjustments.

April 28 - Revisit your short-, mid- and long-term goals. Do they still seem realistic?

April 29 – Review the month’s findings with your family.

April 30 - Congratulations! You’re on the road to financial freedom. Now, get ready for next month by gathering the documents you'll need.