DENVER — Spring cleaning is the perfect moment to reset this time of year. Just like we declutter our closets and garages, it’s a great time to tidy up your money habits.
Financial spring cleaning means taking a fresh look at where your money is going, what accounts you have opened and if your financial tools still fit your life.
Westerra Credit Union shared some easy ways to get started:
- Review your subscriptions and get rid of any unused services
- Organize your accounts by updating passwords
- Review your interest rates on credit cards to possibly lower your rates
- Set new savings goals
Another way to check up on your finances is checking your credit report.
“Our credit report is basically your financial report card. It affects your ability to buy a home, get a car loan, qualify for credit cards, and even rent an apartment. Errors on credit reports are more common than people realize, and those mistakes can lower your credit score and cost you money with higher interest rates. Checking your credit report helps you catch fraud early, correct those inaccuracies, and understand how lenders see you financially,” Nicole Andrushko from Westerra Creidt Union said.
Checking your credit report at least once a year or every few months is even better, Andrushko said.
“Financial wellness doesn't have to be overwhelming. Those small checkups can make a big difference and your local credit union like Westerra is always here to help guide you,”Andrusko said.
The safest and free way to check your report can be found here. It's the only website authorized by the federal government and gives you free reports from all three credit bureaus Experian, Equifax and TransUnion.
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