New Year Financial Checklist

December 31, 2019
As you start the New Year and set your resolutions, consider a few easy changes you can make to set yourself up for financial success in 2020. Whether it’s reducing debt, being more intentional about budgeting or increasing your online safety, use this checklist to start the year off right.


1. Enroll in automatic bill pay
Automatic bill pay takes the hassle and headache out of managing your monthly expenses. Setting up online bill pay is simple and can save you from expensive late fees and help you avoid rate increases because of late payments.

2. Check your credit score
Don’t start the New Year off with any surprises. The top three credit agencies, Equifax, Experian or Transunion, each offer a free credit report once a year. Check for unexpected changes and report anything that doesn’t look right to you.

3. Reset your online banking password
Make a resolution to protect yourself online in 2020. Reset your password using a mix of upper and lowercase letters, numbers and symbols – and avoid using common phrases. Also make sure that your banking password is different than passwords you use for other online accounts.

4. Set a monthly budget
Review your budget and update it to reflect what you hope to achieve in 2020. Do you have a trip that you dream of taking, a home renovation project you would love to complete, or a credit card bill that you want to pay off? Check out our free Money Management budgeting tool within online banking.

5. Prepare your tax documents
Grab a folder and start collecting all of the documents you will need to prepare your taxes now. Not sure what you’ll need? Here’s a helpful tax preparation list. And sign up for a service to help you easily tackle your taxes and maximize your returns. Point Breeze Credit Union members can save up to $15 on TurboTax federal tax products.

6. Evaluate your retirement contributions
Consider updating your investment portfolio so it is reflective of your retirement goals and risk profile. Or utilize a trusted financial advisor through Point Breeze Investment & Retirement Services to ensure you have a solid diversified investment mix.

For more tips, or to let us help you identify tools to achieve your financial goals, contact us at 410.584.7228.