Everwise Credit Union has tools to spring clean your finances

Everwise Credit Union has tools to spring clean your finances
By: Everwise Credit Union, Jennifer Arzola Last Updated: April 5, 2024

Springtime is an ideal time to reorganize clutter and get the garden ready for summer. It’s also the perfect time to reexamine your finances and take steps to support you and yours in 2024. 

For the first step, Jeff Sobieralski, director of financial wellness at Everwise Credit Union, recommends reviewing your monthly budget and cash flow. 

After this crucial first step, Sobieralski says it’s time to create or revisit the monthly budget.

“For those of you who don’t like the word budget, think of it as creating a spending plan where you are planning the best way to spend your money,” said Sobieralski. 

There are several types of budgets or spending plans to choose from. Choosing the type of plan that works best for you is essential. 

“To get started, gather your monthly bills and expenses, review your bank accounts, and ensure that everyone in your household is included in the planning process,” said Sobieralski. “Everyone should be included so you can coordinate and plan spending together.”

When spring cleaning your finances, keep in mind that unforeseen circumstances can derail even the most well-thought-out plans. Knowing this at the beginning of planning allows for adjustment and flexibility. 

Sobieralski also points out that all those easily made subscriptions are one of the easiest things to review. 

“While reviewing your budget, consider whether each subscription is truly essential or simply convenient. If it isn’t necessary, cancel it,” said Sobieralski. 

Budgeting can be made easier by apps and gadgets. However, Sobieralski warns that users should weigh cost against usability. 

“You can use a spreadsheet to monitor current balances and expenses,” said Sobieralski. “The key thing is to locate a tool that helps you best meet your spending plan goals.” 

Everwise provides a tool to help its clients within its mobile app and online banking platforms. Card Connect is a service that gives users the ability to review subscriptions, streaming services, and recurring payments on their debit and credit cards. 

“The Card Connect tool makes it easy to examine subscriptions and cancel any that you no longer want or need,” said Sobieralski. “You can even link accounts from other financial institutions to manage spending across all your cards inside the Everwise Mobile App.”

An additional benefit of having a plan or budget allows for emergency savings and the ability to cover any unanticipated costs. Spring cleaning finances can help to lessen the amount of stress surrounding financial issues. 

“Everyone will eventually run into financial challenges. If you feel as though you are drowning in your financial situation, seek the guidance of a financial professional,” said Sobieralski. 

However, Sobieralski also encourages clients to remain positive and make sure everyone in the family is on the same page. 

“The key to success is consistency,” said Sobieralski. “If you start small, increase your financial awareness gradually, review your spending at least monthly, and adjust your habits as needed, you can establish a solid foundation for better financial management.”

In recognition of Financial Capability Month this April, Everwise has taken additional steps to help members and visitors get started on their financial wellness journey. 

“We will deliver key steps to gaining financial confidence through a series of weekly social posts and articles, covering topics such as creating a budget, paying down debt, building your credit, and retirement planning,” said Sobieralski. 

To learn more about Everwise Credit Union and to view its financial planning tools, please visit www.everwisecu.com.