Every year, we make tons of resolutions. We sign up for a gym membership and vow to get healthy, we swear to ourselves we’ll start going to bed on time, and we make promises to become healthier, happier people.  But this year, the best resolutions you can make are the ones that affect your finances. Help nurse your credit score back to health, make your checking account happier, or invest in your future and start down the path of a healthier, happy financial year.

For a millenial, saving can seem like a scary word. We often look at saving as something meant for adults looking to buy a house or save for retirement, simply not applicable to us. However, starting to save in your 20's can have incredibly positive effects on your financial wellbeing as you continue into adulthood. Here are some reasons saving is important and some ways to start saving (even if you think you have no money). 

Share Certificates: You might have seen this term before but didn’t know what it meant. Share Certificates are a secure, long term investment that give you the returns you deserve, while giving you the flexibility to choose how much you invest and the length of term.

There is a misconception that investing is only for those who can afford it. The reality is, however, anyone can invest! Yes, you read that correctly. Start growing your money with these guidelines:

1. Pay off Your Debt

If you have debts continuously collecting interest, it will be hard to make a net profit through investing. Paying off all your debt is a great investment. Sure, it isn’t as exciting as watching your investments grow, but having a lot of debt will be a large barrier to making money. Click here for tips on easy ways to spend less!

Generally speaking, financial experts say you’ll need 70% of your annual pre-retirement income in order to maintain your standard of living in retirement. That statement may have you wondering when you should begin saving, and the simple answer is now. As with any big project, it’s easy to become overwhelmed when you look at the big picture. However, by breaking your retirement savings goal into manageable steps no matter when you start, you’ll find that the process becomes less intimidating. In fact, armed with information you gather along the way, we even propose that the process can be an exciting adventure! It’s USC Credit Union’s goal to be your financial partner for life and to empower you to own your future. Let’s get started!