Finish Strong

Betesha Ethridge- #BankWithBea

Hello friends! We’ve made it to the final weeks of the year. Over the past 12 months we have been on a journey together. Along the way we discussed the importance of having a financial checkup, savings accounts, credit protection coverage, steps to homeownership, financial investments, different types of scams, and so much more. Hopefully, you took advantage of some of the tips and tricks we learned, to increase your financial wellness.

You do not have to wait until next year or next week to review your credit report and/or your bank accounts to plan. The plan can simply be to revise your plan! It’s never too late to start and it’s never too soon to start. START TODAY!! START RIGHT NOW! When you look back over your original plan for this year and you see where you got off course; know that it is OK! Just dust yourself off, revise the plan and finish strong.

It’s the holiday season and what you need to keep in mind is what your financial goal still is. This is the perfect time to reconsolidate that holiday spending with a 0% credit card promo- or at least a lower rate offer. Remember that credit card offer you may have received in the mail- that offered you a special rate and term? Well, you can call that same credit card company to see if you qualify for any special offers. If you don’t know of one, ask me! Another option is to call your existing credit card company to ask for a credit line increase to decrease your utilization. If you have been a good customer and have had your account for at least 6 months to a year, they will most times reward you if you ask!

Someone asked me what do you do if you’ve hit a rough patch and don’t know how to make ends meet this month? If you haven’t taken advantage of asking for “forgiveness”, try that now. Ask the credit lender for a “deferred” payment, an “extension” or to “skip-a-payment”. What this does is, push your current payment to the back of the loan balance or term. It is usually permissible once every 12 months. Trust me, it’s better to ask now than to pay unnecessary fees or have a negative impact on your credit report. Yes, this includes your mortgage, car note, auto-draft payments, and those credit card payments. For some of us, that will be like having a month FREE of payments! In times like these, we can take all the help we can get.

Revise your financial plan, utilize your resources, and take a look at your credit report NOW! Prepare for these winter month utilities (they are going to be high friends) and BUDGET! Prepare for these student loan payments that will resume. It’s the beginning of the last month; nearing the end of the 4th quarter and maybe you’ve gotten off course. LIFE happened! It’s OK! It’s not too late to set yourself up for next year. It’s not too late to sit down with your financial advisor or your banker to discuss options. It’s not too late to ask for assistance from your credit lenders. It’s another fresh opportunity to finish strong! #bankwithbea 

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