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Improve Your Credit Score

A credit score over 700 opens a lot of doors, from finding a new home to better interest rates on loans, refinancing, mortgages and credit cards. Yet, roughly one in five Hawaii residents has a credit score that falls below 600, according to a recent study by the Federal Reserve Bank. For tips to improve your credit score, read our blog, 5 Easy Tips to Improve Your Credit Rating.

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Review Your Paystub

With the rise of direct deposit, many people never look at their paystubs anymore. However, paystubs contain critical information that can help you understand your finances and manage your money, including planning a budget or setting up a 401(k) retirement account. Regularly reviewing your paycheck can also help protect against any errors in your income and prepare you for tax time. For things to look out for, check out our article, Everything You Need to Know about Your Paystub.

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Invest in the Right Insurance

Should a disaster happen, an insurance policy can help to minimize your out-of-pocket expenses. There are a wide range of insurance policies available for purchase—everything from travel insurance to wedding insurance—but there are a few kinds of insurance that, statistically speaking, are important to carry to ensure your financial future. Learn more about these important kinds of insurance in our post, Important Kinds of Insurance You Need to Have.

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Set Your Budget Goals

Before creating a budget, it’s important to take some time to understand why you are doing it. Thinking through and writing down your life goals, why you’ve set these goals, and how your life will be different once you’ve achieved these goals will help provide motivation, direction, and a clear focus when creating and maintaining your budget. Learn more about how to answer these questions, develop your ‘bigger picture,’ and create clear actionable goals to set yourself up for budgeting success in our post, The Bigger Picture: Creating Goals is Key to Budget Planning Success.

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Create a Budget

Having control of your finances is an amazing feeling. There is a sense of calm, power, and freedom knowing how much money you have available to put towards your wants, needs, and savings goals. Creating a budget will help ensure you have a plan to do just that. Using our step-by-step guide and interactive budget spreadsheet, you’ll be on your way to saving for the things you want, managing your debt, and planning your future. Find it all here in our article, How to Create a Budget Using this Simple Spreadsheet.

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Automate Your Savings

Many people think the best way to save more money is to earn more money. But, there are lots of little ways to cut expenses and build smart money habits that can help boost your savings today, even if the economic climate right now is stormy. For a few useful spending and savings tips that can help you avoid making mistakes with your money, and start putting more of it into savings, check out our article: How to Save More Money by Following These Simple Dos and Don’ts.

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Review Your Credit Report

It's important to regularly review your credit report to check for possible errors and identity theft, as well as to learn more about how you might improve your credit score, which may help in qualifying for future credit cards, buying a home or getting better interest rates on loans. To learn about what you should look for when you’re checking your credit report, read our blog, How to Read Your Credit Report.

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Talk to Your Creditors

If you're one of the thousands of people in Hawaii out of work or facing a reduced income due to COVID-19, you're probably worrying about paying your bills. Fortunately, there are a few simple, straightforward things you can do to improve your situation. By getting ahead of the problem and reaching out to creditors now, you should be able to find solutions together to help take the pressure off. To learn more about how to prepare and talk to creditors, read our blog, How to Talk to Creditors if You’re Having Trouble Paying Your Bills.

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Expect the Unexpected

While you can’t always prevent unfortunate (and expensive) incidents from occurring, there are a few common-sense steps you can take to protect yourself ahead of time. In fact, the right plans can help to shrink financial burdens and minimize the disruption to your life. Read our blog, How to be Financially Ready for the Unexpected, to learn ways you can get prepared.

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Plan and Save for Retirement at Every Age

Planning and saving for retirement is a lifelong process, and it's worth checking in with yourself periodically to make sure that you're on track. Toward that goal, we've got several savings and investment milestones you should be hitting to feel confident in your retirement planning. To learn more about how to save for retirement at every age, check out our blog, Are You Hitting Your Retirement Investment Milestones.