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It seems like everyone loves talking about physical fitness — especially when a new year rolls around. From the latest diet trends to the newest workouts and training apps, we’re constantly looking for ways to get in shape.
What if we took our financial health just as seriously? While running on a treadmill and tracking our meals won’t do much to boost our economic health, there are plenty of other tools we can use to stay financially fit. Think of them as workout equipment for our wallets.
WHY MEMBERSHIP MATTERS
Our bodies can tell a difference when we consistently go to the gym. In the same way, you’ll likely notice some positive changes to your financial health when you join a credit union. Your membership gives you access to programs and resources that can help you become financially strong — such as savings accounts, lower loan rates, and financial education resources.
When looking for a gym, we’ll probably evaluate the available equipment and training options to determine if they meet our needs. The same goes for joining a credit union. Every credit union differs slightly, from member service and account offerings to membership perks. You need a credit union that takes time to understand where you are on your journey to financial health and offers the resources you need to succeed. As a member of Spero, our goal is to do just that.
STRENGTHENING YOUR FINANCIAL HEALTH
So, what does it mean to be financially healthy? The answer may differ from person to person and situation to situation. One simple answer is living comfortably within our means and paying for our current expenses while saving for future ones.
Building financial strength takes repetition and good habits. Like physical training, small, consistent actions — such as saving a portion of your paycheck each month or making your credit card payments on time — will help you get stronger over time.
We all experience setbacks from time to time and have to adjust accordingly, but what matters is that we can adapt and keep pushing forward. As your needs and goals change, the guidance and support of financial experts can go a long way. That’s where Spero Financial comes in.
YOUR FINANCIAL COACH
As a Spero Financial member, you get access to a team of experts dedicated to helping you become financially healthy. To start your journey to financial fitness, here are a few tips from your personal trainers at Spero:
Create a plan and stick to it
Just like physical fitness, financial fitness requires a plan. Start by setting specific, achievable goals and use those to guide your plan. Then, identify smaller steps toward specific targets or milestones. No matter what steps you choose, remember that consistency is key.
Cut back on debt
Debt can be a huge obstacle to financial strength and stability. Not only does it keep you from putting money toward other goals, but it also can damage your credit score. Identify all your debts and organize them based on interest rates, then choose a repayment method to follow. Whether it’s the snowball method (paying off smaller debts and working your way up), the avalanche method (paying off debts with high interest rates first), or consolidating your debt, consistent focus is the key to progress.
Build up your savings
Whether you’re saving for emergencies, retirement, a dream vacation, or all of the above, regular contributions to a savings account make all the difference when preparing for a big purchase or future expenses. Whatever your goals, we’ll help you find a savings account that’s right for you.
The journey to financial health looks different for everyone. At Spero, we care about each of our members. That’s why we take the time to understand your individual needs and goals. As a Spero member, you have access to free financial coaching from our team of certified counselors. Schedule your financial check-in today.
Together, we can craft a personalized training plan to help you get your finances into shape.
