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. Read May’s blog to learn how to get your credit reports and the advantages of reducing your debts. We hope you find this month’s information helpful.
June ideas to help move you forward financially.
From weekend getaways to sporting events to family road trips, summer is a busy season. Keeping track of your finances may get pushed aside in your pursuit of fun under the sun. Before you head outdoors, take a moment to automate some financial functions so you can continue to pay your bills on time and ensure your credit score, like the temps, remains high or is climbing.
Session 1: Set up auto pay.
When you did the expense tracking session in February, did you remember to include all your bills, or have forgotten bills popped up since then? Add these stragglers to your spending and savings plan, and then use that section of your budget as a checklist for automating all your bills. By doing some light work now, you can save yourself a lot of annoying little tasks later. Plus, you’ll avoid missing a payment.
Tip: Another great way to streamline your money management is to sign up for electronic statements for all your accounts. This step will save you time, simplify organization, and reduce paper waste. When these statements come in, Tulee, our digital banking platform, makes automatically paying these bills quick and easy. Tulee’s Bill Pay Tool helps you make payments on time, whether you’re at home or on the go. Use the Bill Pay Tool to set up one-time or recurring bill payments. Using our Bill Pay Tool also means no more having to buy stamps to mail your bills or dropping off your bills at the post office, freeing you up for more summer fun. Review this video to learn how Tulee’s Bill Pay Tool works. You can also read the instructions here.
Session 2: Know your credit score.
Did you know your credit score impacts more than the interest you pay on loans? Your credit rating can impact everything from qualifying for certain jobs and renting properties to saving money on insurance, it’s essential to understand what goes into your FICO® Score 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 annually from the three major credit bureaus is smart, we suggest taking a more active approach by checking your credit score monthly. It’s easy to do and free with our Credit Score Tool in Tulee. Checking your score in Tulee has no impact on your credit report. Whether you’re applying for a home or auto loan, filling out an apartment rental application, or applying for a new job, knowing your score and what others may see helps alert you to potential problems and keeps you at the top of your financial game. To learn more about the Credit Score Tool, play this video or download the infographic.
Final thoughts.
When summer arrives, focusing on financial wellness may take a back seat to other activities. However, spending a few minutes to set up automatic payments with the Tulee Bill Pay Tool and keeping track of your FICO® Score with Tulee’s Credit Score Tool can make your summer more carefree. If you haven’t signed up for Tulee, do so today.
Thanks to our friends at Balance for these smart tips.
