December 29, 2022It’s Time for a Financial Fresh Start in 2023

It’s that time again. The potential for new beginnings, a fresh start, the opportunity to reevaluate your budget, and financial goals in 2023. While resolutions can be difficult to keep, you can make simple changes that will put you on track to smart money moves this year. 

Think about your budget  

A new year is a great time to consider your spending habits. This will help you make an accurate budget that reflects your lifestyle. What do you spend the most on? What do you want to put money toward? Sit down and plan what to save and spend money on this year.  

Review your saving habits 

How’s that emergency fund? The holidays can make you dip into the stash you wouldn’t typically use. Now, it’s time to give yourself a refund to get back on track. Plan your big financial goals, like vacations, big purchases, and retirement, with replenishing your emergency fund in mind. Plus, it’s never too soon to start thinking about next year’s holidays.  

How much did you spend this year? Open a PEFCU holiday club account to be ready for the next holiday season.  

Pay off debts 

Tackle high-interest debt and pay off whatever looming credit card bills are left. Start with the most expensive debt first. Paying only the minimum balance required prolongs your debt payoff, so pay more than the minimum balance if you can.  

Strategic choices now can help you later, such as choosing to limit spending on nonessentials and freezing spending on credit cards. If you’ve been using your credit cards to fill financial gaps, now is the time to break the habit. 


Need help or guidance to live your best financial life in 2023? Visit one of our convenient locations or call us today at 1-800-226-6673 to learn more about how we can help you pay off your credit card debt and restore your financial freedom. 

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