Spark your Financial Freedom this Summer

Image of Bill Partin Sharonview CEO
by Bill Partin
Sharonview Federal Credit Union

July 2018

The summer season is in full swing as millions of people bask in the sun and escape the stress of the workplace. To take the utmost advantage of that well-deserved vacation, take a look at some ways to maintain a stress-free wallet and ignite your own financial freedom.

1. Track your money

Living in financial freedom is made easier when you know where your hard-earned money is being allocated. In preparation for spontaneous trips or emergency expenses, a practical first step is to track your spending. Gauge your outgoing costs for at least a week to determine where the bulk of your income goes on a regular basis, including bill cycles. With modern technology, tracking your spending is easier than ever. Mobile banking will usually show you each transaction from each card and identify where it came from if you can’t track immediately per transaction. Additionally, utilizing an app for quick on-the- go tracking or cloud-based systems for access via multiple devices are a few user-friendly options for tracking money with a busy schedule.

Images of Online and Mobile Banking

2. Don’t procrastinate

With summer deals being advertised left and right, a big trip is almost inevitable. Even if you’re not leaving the city, a staycation can be just as costly and requires planning. Relieving financial stress in the summer requires careful consideration during the off months. Start the vacation planning early and budget as many details as possible ahead of time. With those details in mind, keep an eye out for money-saving deals and set aside money per paycheck into a separate savings account for your next trip. Come vacation time, cash in on your vacation account and enjoy your trip.

3. Find a financial mentor

Budgeting. Tracking. Saving. They’re simple words but they can be hard to execute. As you embark on the journey to financial freedom, finding a partner who can walk you through the ins and outs of smart financial planning is invaluable. Reach out to your financial institution and ask about available financial advising resources. At Sharonview Federal Credit Union, financial coaching is offered free to Sharonview members with no appointment necessary. Members receive a personalized action plan from financial experts to help members take steps towards financial freedom. Take advantage of expert knowledge and take control of not just your summer, but your money.

What does financial freedom mean to you? Utilize these tips to grant yourself the liberty of enjoying these precious months of relaxation and time away from the desk. While finding relief from financial stress is an ongoing process, your efforts can extend beyond the pool-filled days of summer and spark a big impact on the rest of your year.


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