Old Man Winter has arrived in Michigan, bringing us colder temperatures, sparkling snow, and howling winds. Follow these easy four tips to make the winter season less stressful on your wallet and more budget friendly.
Look for ways to save on utility bills.
With daylight savings time over and the sun setting so early, consider using energy efficient light bulbs in your home, and be sure to turn off lights that don’t need to be on. Changing furnace filters regularly and keeping air vents open and clear will help your home heat more efficiently. Older homes may even need air leaks sealed around windows and doors.
While a hot shower is one of life’s greatest luxuries, consider dropping the temperature on your hot water heater and wrapping pipes in insulation to save on your bill. Fixing leaky faucets will also serve as beneficial. Although you should always follow care instructions, washing clothes in cool/cold water can also help cut down on utility bills.
Review recurring charges on your credit/debit cards.
Automatic renewals can be beneficial, but always remember to review recurring charges on your credit and debit cards occasionally. From streaming services, to gym memberships, or that online gaming service you used to spend way too much time on, it can be easy to forget about automatic payments.
Pro-Tip: Avoid ATM fees by accessing over 30,000 fee-free ATMs nationwide through the CO-OP ATM network. Learn how by clicking below!
Set a budget for holiday shopping.
Shopping for loved ones is a great feeling, but it can have the adverse effect when it comes to your finances. Creating a budget for holiday shopping can help you feel confident, organized, and ready to tackle the holiday season.
Using labeled envelopes and placing a specific cash amount in each, known as the envelope budget, is a great, easy method. Remember to shop early to avoid rush shipping fees, look for special discounts, and consider making a homemade gift.
You can earn points for spending with an Arbor Financial Rewards Credit Card! Redeem points for cash back, gift cards, merchandise, and travel. Here’s what you earn back in rewards points:
> 3X points on restaurant and travel
> 2X points on groceries and gas
> 1X points on everything else!
Free up cash flow.
See if you can GET MORE cash in your wallet with our:
Skip Payment Program – A simple step to solve a cash-flow crunch, this program allows eligible borrowers to skip a loan payment to catch up on other bills. Exclusions, conditions, and restrictions apply.
Balance Transfer – Transfer your high-rate loan to Arbor Financial to consolidate debt and save on payments. Speak with a Personal Banker to see if this is the right move for your situation.
Personal Loan – From debt consolidation, home repairs and more, a personal loan can put a little extra cash in your wallet for any need. View rates and details below.
Simple savings tips can add up big, from cutting down on the electric bill to canceling that gaming subscription you no longer use. These are easy steps to get you started, but don’t stop there! Visit our on-demand library for free financial education, available for you whenever, wherever, on topics like budgeting, credit score, and more.
Visit the On-Demand Library