How Well Do U Know Your Money?
7 Simple Financial Check-Ins for National Financial Awareness Day
August 14 is National Financial Awareness Day – and before U keep scrolling because that sounds like a day involving spreadsheets, calculators and possibly a lecture about budgeting… stick with us.
Financial awareness is actually pretty simple.
It’s knowing what’s happening with your money.
What’s coming in. What’s going out. What you’re working toward. And whether the financial choices you’re making today are helping Future U get where U want to go.
And U don’t need to overhaul your entire financial life to get started.
Here are seven simple check-ins U can do today.
1. Know where your money is going.
Quick question: Could U tell us roughly how much U spent last month?
No judgment if the answer is “absolutely not.”
Take a few minutes to look through your recent transactions. U may notice patterns U hadn’t realized were there – from how much you’re spending on takeout to those little purchases that don’t seem like much until U add them together.
DO THIS TODAY: Open your banking app and look through the last 30 days of transactions. Pick one spending category that surprises U.
Awareness comes before change. U don’t have to fix anything today. Just know where your money is going.
2. Find the subscriptions U forgot about.
Streaming. Apps. Cloud storage. Fitness memberships. That free trial U definitely meant to cancel.
Recurring charges have a sneaky way of becoming part of the scenery.
Take a look through your account and credit card transactions and make sure you’re still using – and actually want – everything you’re paying for.
DO THIS TODAY: Find your recurring charges and cancel one U no longer use.
Even $10 or $20 a month adds up.
3. Know your credit.
Your credit can affect everything from borrowing money to the interest rate U may qualify for, so it’s worth knowing where U stand before U actually need it.
Take a look at your credit report. Check that the information is accurate and watch for accounts or activity U don’t recognize.
And remember: checking your own credit report doesn’t hurt your credit score.
DO THIS TODAY: Review your credit report and make sure everything looks like it belongs to U.
Knowing what’s there is one of the easiest ways to take more control of your financial life.
4. Give Unexpected U a little backup.
Cars need repairs. Appliances break. Pets get sick. Life has a habit of sending us expenses we didn’t exactly put on the calendar.
That’s why having some money set aside can make such a difference.
If U don’t have a big emergency fund, don’t let that stop U from starting one. $25 is better than $0. $100 is better than $25.
The important part is starting.
DO THIS TODAY: Move an amount U can comfortably afford into savings – even if it’s just $5.
Future U will be glad U did.
5. Put one good money habit on autopilot.
Want to know one of our favorite financial tricks?
Make the good decision before U have the opportunity to talk yourself out of it.
Automatic transfers can help U save consistently without having to remember to move the money every month.
DO THIS TODAY: Set up a small automatic transfer to savings on payday.
$10. $25. $50. Whatever works for U.
Consistency can matter more than starting big.
6. Give your accounts a quick safety check.
Financial awareness isn’t only about spending and saving. It’s also about protecting what U already have.
Make sure your contact information is current, your passwords are strong and unique, and account alerts are turned on where available.
And if U ever receive a call, text or email asking for sensitive information, stop before U respond.
Scammers want U to react quickly.
U can choose to slow down.
DO THIS TODAY: Check your account alerts and security settings.
A few minutes today could save U a much bigger headache later.
7. Pick one thing Future U wants.
This might be our favorite one.
What are U working toward?
A first car? A home? A vacation? Paying off a credit card? Building savings? Finally creating an emergency fund?
Financial goals don’t have to be enormous or impressive. They just need to matter to U.
DO THIS TODAY: Write down one financial goal and one small thing U can do this month to move toward it.
That’s it.
So… how well do U know your money?
If U went through all seven of these check-ins, U just did something important.
U paid attention.
Because financial awareness isn’t about being perfect with money. It’s about understanding your financial life well enough to make intentional choices about what comes next.
Start small. Ask questions. Learn as U go.
And remember, U don’t have to figure everything out alone.
That’s what we’re here for.
Because when it comes to your financial life, U+Me can accomplish a whole lot together.
U matter to Me (to all of us) at UMe!
Disclaimer: U matter to Me (to all of us) at UMe — and that’s why we do our best to deliver helpful information on our blog. Please note the following: (1) UMe Credit Union works hard to make certain that the information we post here is as accurate as humanly possible. But as you know, information can change and evolve quickly. While we try to update the blog on a regular basis, the content of some older posts may not be correct or up-to-date. (2) Some destinations on the World Wide Web that we link you to will exist on external websites. UMe Credit Union does not officially endorse any connected sites, nor do/did we compensate or get compensated by any entities to be featured in our posts (unless otherwise noted). (3) Everyone’s situation is unique and we advise you to consult with our personal bankers or your finance, tax, or legal professional for advice individualized to you!