Many people enter the last leg of the year and feel like they haven’t made good on their yearly resolutions. However, the year isn’t over yet!
With the right kind of sprint towards the finish line, you can get back in shape, reduce financial clutter, and move real dollars toward what matters most.
What is The Great Savings Race?
Think of it as a financial fine-tuning ahead of your final dash to the end of the year. You will audit your progress, assess what is not serving your goals, set specific targets, and make intentional changes to your money mindset that will protect your wallet through the holidays and into the new year.
The goal of setting this race in motion is to help you identify areas where money is being overspent, target overspending habits, and implement a hard reset ahead of a busy season.
4 Step Race Plan
Imagine the finish line is firmly set to December 31st. Like every deadline, a plan is required, and discipline makes the difference in carrying you across the line. These four steps break down how to get ready and join the great savings race.
Grab Your Co-Captain
The most important ingredient in maintaining discipline and consistency is an accountability partner. It’s proven that having friendly competition improves follow-through and motivation. It’s time to invite your money buddy to the race!
Schedule a 15 minute weekly check-in where you share your wins and ask for help on difficult topics.
Outline Three Finish-Line Goals
What you want to do here is make sure that within the weeks left in the year, you can hit these goals. Be realistic and specific. For example:
- Start your emergency fund with a goal to total $300 by December 31st. To keep it sustainable, you add a weekly target of adding $50 to your savings account.
- Set a holiday budget and tie it to a dedicated holiday account. Start by identifying a maximum cap for holiday gifts and travel plans. Auto-fund the account weekly.
- Work on improving your credit score. Keep card utilization under 30 percent with consistent payments.
Trim The Excess Fat
Check off your OneUnited Bank to-do list and let our digital solutions give you a speed boost.
- Set up Early Pay and get paid up to two days early. Use this extra time to pay down debt, address bills, or build your holiday fund.
- Turn on AutoSave to help you automatically round up your change on every purchase.
- Essential customers should leverage the power of WiseOne Insights to maximize their financial health. Understand, in real time, more about your habits and get timely guidance on what you can act on.
Track And Celebrate
Open your notes app and create a table with three rows. Title row one as the Week, the second as Weekly Wins, and the third as Roadblocks. Under each column, log your money moves, debt paid, or unexpected complications.
Dedicate some time each week to touch base with a friend. Together, you can review your progress and encourage one another to stay on track.
Every year’s end is a chance to recommit to your financial wellness. Keep momentum with these smart, simple habits.
In the final sprint, commit to your three goals, run through your OneUnited Checklist, and check in weekly with your co-captain. It is race time!
