The 2×2 System is where you set aside two hours on the calendar two times a month to complete a predetermined financial task. This modest but consistent effort can help you sustain financial health and build wealth in bite-sized chunks. To view May’s blog on checking your credit report and planning to reduce debt, click here. We hope you find this month’s information on setting up autopay and learning your credit score beneficial.
June Session 1: Set up auto pay.
In February’s 2×2 blog, we encouraged you to track your spending. Now’s the time to do a spending checkup. Did you remember everything? Have new monthly expenses become a part of your life? Has there been an increase in expenses, such as food costs or auto repairs? Add these new bills and increases to your spending and savings plan. By doing some light work now, you can see if you’re on track to meeting your financial goals, or if it’s time to make some adjustments if your bills are outpacing your income.
Tip: Another great way to streamline money management is to sign up for electronic statements. This easy step will save you time, simplify organization, and reduce paper waste. Tulee, our digital banking platform, can help with auto pay and electronic statements. Once you enroll in Tulee, opt for eStatements by clicking the eDocuments Tool. eStatements is safe, fast, and convenient. Every time a new statement is ready, you get an email. Plus, when you sign up for eStatements, you can qualify for valuable Checking account rewards, and you can view, print, and save up to 36 months of statement history from your time of enrollment. Setting up automatic bill pay in Tulee can be done in a snap. After you enroll in Tulee, use the Bill Pay Tool to set up one-time or recurring bill payments to help you never miss a payment and avoid late fees. Watch this video to learn more.
June Session 2: Learn your credit score.
In the last two 2×2 sessions, you took important steps toward paying down your debt and ensuring all your payments happen on time. Did you know those two factors comprise 65% of your FICO credit scores? Because your credit ratings can impact everything from qualifying for certain jobs and renting properties to saving money on insurance, it’s essential to understand what goes into them and where you currently stand.
Tip: There are a lot of different types of credit scores generated by a variety of companies. The best way to ensure you and a lender or other business are on the same page is to ask them what score they use and then access that one. You don’t want to think you’re in the clear only to find out you looked at the wrong score. While getting your credit files every year is smart, we suggest you review your credit score monthly. It’s easy to do and free with our Credit Score Tool in Tulee. View this how-to-guide or play this short video to learn how to use the Credit Score Tool. Checking your score in Tulee has no impact on your credit report.
Final thoughts.
As we approach the midpoint of the year, now is the perfect time to double-check your expenses and ensure you’re on track for the rest of the year. Setting up autopay and monitoring your credit score monthly are two simple, powerful steps to improve your financial well-being. Come back next month for ideas on increasing your cash flow. If you need help enrolling in Tulee, call 800.877.2345.
