Spring Financial Wellbeing

Our Financial Partners over at Brighton Jones have put together a selection of brief financial wellbeing tips for to share with all of you! Each season will have a different selection of tips with the reminder that you all have a financial wellbeing resource through Brighton Jones vis AdvisorSupport@brightonjones.com or at go.oncehub.com/AdvisorSupport.

Compare Your Credit Card Interest Rates

Review your credit card accounts and note their current interest rates and annual fees—they may have increased since you first applied. In some cases, you may be paying an annual fee that can be reduced (or eliminated) by exploring similar cards with zero annual fees. If you can find a better deal elsewhere, it may be a good time to switch.

Be mindful of transfer and membership fees when selecting a new card. Changes to your line of credit must be made with caution, especially when closing an account. Leaving accounts open despite not using them can help boost your score. Avoid using accounts with higher interest rates if you are unable to pay off the balance every month.

Check Expiration Dates

Credit cards with introductory rates, such as zero percent APR, expire after a set period of time. Mark these deadlines in your calendar and pay off the balance before the rate increases.

If your debit or credit cards expire soon, order replacements and ensure the bank has your correct address. Check the expiration dates of any accrued airline miles or points. If your miles expire soon, consider taking a cash redemption, if allowed. The extra cash can be used to cover your bills during gaps in income. You can also donate your airline miles or points to an organization like the Make-A-Wish Foundation.

Update Your Online Wallet

While autofill features speed up online purchasing, they can make it a little too easy to click “buy.” First, remove any expired cards or accounts. Then, set the card that is the most suited for online purchases as the default. For example, use a credit card with a low interest rate and competitive award programs for daily purchases.

Alternatively, remove all saved cards to make online purchases less convenient, allowing you a moment to consider the necessity of the purchase.

Enroll in Your 401k

All Employees who have reached 18 years of age are eligible to enroll in a 401 account, with the company matching 50% of every dollar you contribute up to a maximum of 10%. Go to Dayforce to sign up and get more details.

Remember, Brighton Jones offers financial wellbeing to our team – check out other tips for financial wellbeing at www.brightonjones.com/financial-wellbeing or reach out with your specific questions to AdvisorSupport@brightonjones.com.