No one likes to play catch-up on bills or get hit with a cost that drains checking reserves. To avoid those feelings that bring on anxiety or the risk of missed savings opportunities, you need to plan ahead of time.
Not everyone is a natural planner, and even the most organized of people could be missing out on some financial planning. That’s what this habit checklist is for! See what habits you can start practicing today to make 2022 your most financially healthy year yet.
Habits for Creating Financial Peace of Mind
- Review your insurance annually to ensure you’re protected.
- Plan what you will set aside and make it a must for yourself (aim for 10% set aside for savings before your regular spending).1
Habits for Being Prepared
- Track your spending and expenses so you know where your money is going every month.
- Create a “rainy day” emergency fund (56% of Americans can’t cover emergency expenses of $1000).2
- Know what taxes you need to file ahead of the upcoming tax year (talk with a professional or use tax help from your banking tools).
Check out our post “What are Estimated Quarterly Taxes?” to learn more.
Habits for Doing More Than Manage Debt
- Work your budgeting around your existing debt payments first to help you stick to safe spending.
- Spend less on interest by paying down the debt that costs you the most.
Habits for Building a Better Credit Score
- Monitor your credit report monthly to see where you can make immediate adjustments.
- Review your credit reports at least once a year to ensure your credit history is accurate.3
- Improve and maintain your credit score by paying your bills on time.
Need Financial Wellness Help?
indi was built to meet the unique and often underserved banking needs of independent workers and partners with marketplaces and companies that directly pay gig workers, freelancers, or independent contractors. indi’s mobile app includes financial wellness features such as Early Pay instant payments and Tax Saving Goals that ease worries.
Contact our team to see how indi can help deliver the instant payments, banking features, and financial wellness tools employees need to thrive.