Four Weeks to Better Financial Habits: Week Four

Four Weeks to Better Financial Habits

After resetting habits, building savings and protecting progress, Week Four focuses on intentional growth. This week is about making strategic financial decisions that reduce long-term costs, prepare for upcoming seasonal changes and position members for continued success.

Week 4: Growth & Moving Forward with Confidence

Pay Extra Toward One Debt

Making even small additional payments toward a single debt can reduce interest costs and shorten repayment timelines. This is universal for all forms of loans, from personal to home. Look for:

• Outstanding balances on credit cards, auto loans or personal loans, including on the other  dependents in your life
   

• Interest rates changing
   

• Minimum monthly payment amounts compared to total balance owed: Take initiative to pay a little extra each month if you are able to. Focusing on one debt at a time helps simplify repayment and creates measurable progress.

Review Loan or Credit Options

As finances stabilize, reviewing existing loans or credit options may uncover opportunities to improve terms or simplify payments. Look for:

• Current interest rates and remaining loan terms
   

• Multiple monthly loan or credit card payments
   

• Credit usage levels and overall debt structure: For example, it is generally recommended to utilize less than 30% of your credit card limit.

A review helps ensure your borrowing tools still align with your financial goals. It never hurts to shop around and knowing your options allows more opportunities to pay off debt quickly. Talk to a Heritage representative today to discuss your options further!  

Examples might include:

• Exploring personal loan options to consolidate higher-interest debt
   

• Reviewing auto loan terms to determine if refinancing may be beneficial
   

• Evaluating credit card usage and limits based on current financial needs
   

Tips for success:

• Gather recent statements before reviewing options
   

• Ask about rates, terms and repayment flexibility
   

• Avoid taking on new debt unless it supports long-term financial stability

Set Seasonal Financial Goals

Seasonal transitions are a natural time to reassess priorities and plan ahead. Setting short-term goals help members stay proactive and focused. Over the past three weeks we have tackled a large portion of financial budgeting tools and breaking down timely to-do lists, daily, weekly, monthly and seasonally can be a huge help in aligning yearly financial goals. Some examples of seasonal planning might include:

• Saving for summer travel or family activities
   

• Building a buffer for home or vehicle maintenance
   

• Increasing savings contributions during months with lower utility costs
   

Tips for success:

• Choose one or two goals to avoid feeling overwhelmed
   

• Assign a timeline and estimated dollar amount to each goal
   

• Review progress regularly and adjust as needed

Meet with a Heritage Team Member

One of the greatest benefits of credit union membership is access to personalized guidance and support.

Look for:

• Opportunities to review accounts, loans and savings strategies
   

• Guidance tailored to your specific financial goals
   

• Education on Heritage products and digital tools
   

Meeting with a Heritage representative can help turn plans into actionable steps. Connect with one of our team members HERE.

Tips for success:

• Prepare questions or goals ahead of your meeting
   

• Bring recent account or loan information for review
   

• Schedule periodic check-ins to stay aligned with changing needs
   

Use Your Credit Union as a Financial Partner (812) 253-6928

Financial growth is easier when members take advantage of the guidance, tools and education available through their credit union. Look for:

• Opportunities to review accounts, loans and savings strategies with a Heritage representative
   

• Financial education resources and digital banking tools designed to simplify money management
   

• Personalized product recommendations that support individual financial goals
   

Credit unions operate as member-focused financial cooperatives, meaning member success directly supports the strength of the entire organization. Tips for success:

• Schedule periodic financial check-ins to review progress and adjust strategies
   

• Ask questions about new products, savings tools or lending solutions
   

• Utilize digital and in-branch resources to stay informed and confident in financial decisions
   

We hope you have enjoyed this blog series and that it will help set you up for long term success for smarter decisions and stronger habits in financial decisions. If you have any further questions, please feel free to reach out to a Heritage Representative HERE or Call (812) 253-6928. 

The views and opinions expressed in this blog are those of the writers, and do not necessarily reflect the views or positions of Heritage Federal Credit Union.

Insured by NCUA. Membership restrictions apply. Subject to credit approval.