If you find yourself stuck at home for the foreseeable future, it may be a good idea to take an in-depth look at your finances while utilizing this time period to get things done! Here are some smart ideas:
Organize your Passwords:
While in quarantine, there is no better time to assemble all of your accounts, passwords and points of contact. If you have a significant other, do this together. You should update your passwords to include more characters, symbols and numbers, so they are harder for cybercriminals to crack. And make a habit to change them often – every 90 days or so. While your organizing passwords, make sure you know where other important documents are located: your stove warranty, the titles to your car, the furnace repair person’s business card, etc.
File your 2019 Taxes:
If you have not filed your 2019 taxes, fret not! The IRS has extended the deadline to July 15th. However, if you are eligible for a refund, now may be a good time to receive it; so file as soon as you can. Be sure to scour your records for overlooked tax breaks and deductions. As a credit union member, you also qualify for a discount on TurboTax.
Reduce Pesky Fees:
Use this time to double-check the various services you subscribe to and make sure you aren’t paying more than you have to! Common options include your wireless carrier. Sometimes you may be paying for cloud storage or visual voicemail you don’t need. Or maybe you are a member of a gym; make sure if their facility is closed they are not charging you! Also, if you subscribe to a streaming service, consider downgrading to a lesser package and save.
Bonus: If you are stuck at home and are driving less, consider calling your car insurance company to see if they can reduce your rates. Less driving = less chance for an accident.
Review your Credit Score:
If you haven’t reviewed your credit score in a while, check your credit score and report for free, safely and securely, within Credit Union of Denver’s online and mobile banking platforms. It’s called Credit Score & More. It’s free service for our members, and it also allows you to monitor your scores and even file reports. It’s a good idea to be on the lookout for suspicious activity on your report, so you don’t fall victim to identity theft.