Money Matters

Your Credit Union Newsletter

The 2×2 System: A Yearly Financial Wellness Calendar. September.


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 August’s blog covering financial planning for the holidays, click here. We hope you find this month’s information helpful.

September Session 1: Calculate My Net Worth
With so many moving parts in personal finance, it can be tough to know where you stand. By calculating your net worth at least once a year, you can get a snapshot of your progress and better identify areas that might need some work.

Tip: As you enter your retirement funds in your net worth calculation, take a moment to consider if there might be money out there you aren’t factoring in. Reach out to former employers or use one of the websites designed to track down old 401(k) accounts to see if you can add some heft to your nest egg numbers. Also, be sure you know where all your CDs are. In the hunt for higher rates, many people opened CDs at different banks. As these mature, consider consolidating them at one financial institution. Your Credit Union offers a range of Certificates with industry-leading yields, and having them all under one roof makes it easier to keep track of them.

September Session 2: Understand My Insurance Needs
With time comes change, and with change comes a need to update your insurance coverage. Review your policies and choices to make sure they provide the coverage you’re looking for:

  • Health
  • Disability
  • Life
  • Auto
  • Liability
  • Homeowners/Renters

Tip: Recent natural disasters nationwide have caused big changes across the insurance industry. As with all types of accounts, it makes good sense to check at least annually for better deals and to ensure you understand what your insurer covers and what they don’t. Shopping around on insurance could save you thousands of dollars per year. And ensuring you have the protection you need could save you even more and help you avoid surprises.

We hope these tips help you take control of your finances as we enter the latter part of the year. Knowing your net worth and insurance coverage and costs can set you up to make sound decisions today and down the road. For more great ideas that help you take control of your finances, please review the previous 2×2 blogs. 

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