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Community Advocacy Organization

Financial Habits You Should Practice in 2023


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With the end of the holiday season and the New Year beginning, now is a good time to re-examine your finances. From tackling debt to setting saving goals, make 2023 a better year financially with these financial New Year’s resolutions.


Review your budget and loan rates

Take a look at your budget and see if you need to make any adjustments, such as reducing your gas budget because you’re working from home a few days a week. Also, you may be able to save money by refinancing your car or home loan to a lower interest rate.


Pay yourself first

Contribute to your 401(k), IRA, savings accounts, or an emergency fund before you pay other expenses. If your employer offers a 401(k) match, make this your minimum contribution amount to take advantage.

Draft a plan to pay down your debt

Consider making extra payments each month, consolidating your debt at a lower rate, or reducing spending on other items and apply those funds to the debt. Get creative with your spending and savings plans by applying cash back you’ve earned from reward credit cards to pay down your loans.

Check your credit score

Monitor your credit score and review your credit reports for any discrepancies. To improve your credit score, make sure to pay bills on time and keep your credit usage under 30% of your total available limit.


MSUFCU is here to help you with your financial resolutions. Our mobile app, low-interest rate loans, and our Visa Platinum Plus Credit Card – which offers cash back and a low rate – are just a few of the many options we offer to help you achieve your financial goals and dreams.


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