Money Matters

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The 2×2 System: A Yearly Financial Wellness Calendar: January


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 December’s blog to learn tips to help protect you when you go online. We hope you find this month’s information helpful.

Congratulations, you have reached the final two sessions of the 2×2 System. If you have been following along for the last eleven months, you have completed 22 sessions and probably feel much better about your finances than when you started—just two more sessions to go.

While the 2×2 System doesn’t come with a diploma or certificate, it does come with the knowledge you learned along the way. We hope you found these methods and techniques valuable and will continue using them throughout your financial health journey.

The January sessions may be considered “advanced planning.” You are setting yourself and loved ones up for success in the future by planning today.

January Session 1: Handle My Estate Matters
As with so many items on this list, estate issues are not ones to drag your feet on. Failing to have comprehensive paperwork to reflect your final wishes can create challenges for your surviving family members. Make sure to have these taken care of:

• Will or trust
• Durable power of attorney
• Updated beneficiary information
• Letter of intent
• Healthcare power of attorney
• Guardianship designations

Tip: Even if you already have the above information completed, reviewing it yearly is wise to ensure it reflects your current situation and preferences.

January Session 2: Discuss My Parents’ Future
Usually, we think of a parent imparting financial guidance and assistance to their children, but there comes a time when that role flips. If you have an aging parent or parents, talking to them now about their retirementlong-term care, and estate planning can save a lot of heartache and confusion later.

Tip: This conversation is an excellent opportunity to ensure a clear understanding of future living arrangements for your parent(s). “I just assumed we would move in with you” is not something you want to be surprised with later.

One Final Thought
As you plan for the future, be mindful of today’s online threats, especially those targeting older adults. According to the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3), in 2022, there were more than 88,000 complaints of fraud from people aged 60+, resulting in more than $3 billion in losses. This was an 82.35% increase in losses compared to 2021.* Stay alert. Visit our Current Scams page to learn tactics fraudsters are using to try to steal your personal information and finances. And please remember, we will NEVER call or text you for any personal information, username, passwords, or passcodes. If you receive a call or text from any number or person claiming to be an employee of the Credit Union requesting this information, DO NOT RESPOND, HANG UP, AND CALL US DIRECTLY at 800.877.2345.

*Waterman, Genvieve, “The Top 5 Financial Scams Targeting Older Adults,” 8 December 2023.

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