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Every January, we set lofty financial resolutions. Save more. Spend less. Finally, stick to a budget. But by February? Let’s just say the motivation fizzles out faster than the New Year’s sparklers. Sound familiar?

Coming up with the things we’d like to improve or change in our lives is the easy part – keeping those resolutions is where the real work starts. When life gets busy and motivation fades, our goals often get pushed to the back burner, and that’s why having a strategy is essential.

One tool that’s risen in popularity over the years is habit stacking. It’s an easy and effective way to gain momentum when it comes to any goal, even financial ones.

What Is Habit Stacking?
Habit stacking is exactly what it sounds like: stacking a new habit on top of an existing one.

Think of it as piggybacking on something you’re already doing or using the buddy system by pairing a new habit with an existing habit.

For example:
• After you brew your morning coffee, you check your bank balance.
• After you pay a bill, you transfer $5 into savings.
• Before brushing your teeth at night, you review your daily spending.

Attaching a new habit to an established habit (or inserting it into an existing routine) makes it easier to remember and implement during those beginning stages than starting a new routine from scratch.

It doesn’t require you to rely on willpower or force yourself to remember or schedule your new habit. Your morning coffee becomes a trigger to check your finances. Paying a bill becomes a cue to save a little extra. Over time, these small actions add up.

You’re not just sticking to your resolutions—you’re building new financial habits that last.

Here Are Four Easy Habit Stacks You Can Use Today To Reach Your Financial Goals

1. Morning Coffee + Check Your Bank Balance
   Most of us can’t start the day without that first cup of coffee (or a cold energy drink). This ritual is the perfect “buddy” for a new financial habit. While you brew your coffee, take one minute to log into your banking app and check your balance or scan for unusual transactions. It’s a quick way to stay on top of your finances and set the tone for mindful spending all day.
2. Online Shopping + Save While You Spend
   We all love a little online shopping, especially with post-holiday sales everywhere. Here’s a twist: every time you make a purchase, transfer a small amount—say $5—into your savings account. It’s like giving yourself a gift that keeps on giving. Think of it as a necessary self-induced tax.
   Bonus: you’ll think twice about unnecessary purchases when saving is part of the process.
3. Paying Bills + Find Savings Opportunities
   When paying a bill, take an extra minute to review the expense and ask, “Can I reduce this?” Maybe you can switch to a cheaper phone plan, bundle insurance policies, or cut back on streaming subscriptions. It’s a simple habit that can save you hundreds over the course of the year.
4. Evening Routine + Review Your Spending
   Before brushing your teeth or settling in for the night, take two minutes to review the day’s spending. Did you stick to your budget? Are there any adjustments you need to make for tomorrow? This nightly check-in keeps your finances at the forefront of your mind and helps you track your progress.

In Conclusion:
Starting small and slowing incorporating new habits into your current routines is what makes this strategy so effective.

You don’t need to overhaul your life or spend hours trying to live a completely different lifestyle. Focusing on one or two habits that take less than five minutes helps you build consistency.

Consistency helps those new baby habits graduate and grow into automatic, seasoned habits that can show next year’s resolutions the ropes!

Slow and steady wins the race! Let’s turn those ambitious financial goals into manageable actions that we can stick with long after January is over. One cup of coffee, one bill, one step at a time. You’ve got this!

This article is for informational purposes only. Membership required. SRP is federally insured by NCUA.

Article Credit: BALANCE

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Emotional Giving, it’s More Than Money

Let’s set the stage… you’re home on a Friday night watching your favorite sitcom, and suddenly there it is… the familiar sad song combined with images of mistreated animals. Now, instead of laughing, you’re tearing up and reaching for your computer or phone to make a donations.

Here’s another scenario… lunch is being catered at work today. You ask the source of the generosity and discover it was sponsored as part of the kickoff to a charity campaign. You’ve already eaten the food, so now you feel obligated to give to the charity.

Giving happens for a variety of reasons, but for many, it’s done in pursuit of a better life. A better life for the person or group you are giving to and an improved feeling about yourself for knowing you have helped others. Though the beneficiary of the donations may vary, the motivation to help is shared among the people that give.

Giving for “Healthy” Reasons

When the University of California, Berkley studied giving, the research found that elderly individuals who volunteered for two or more organizations were 44% less likely to die over a five-year period. In a Johns Hopkins University study, it was found giving improves physical health and longevity by reducing stress. In addition, the University of Tennessee reported lower blood pressure for givers compared to their peers who do not donate.

Social Connection of Giving

When individuals give, they become connected to the cause they’re supporting. In that respect, givers tend to be more socially conscious and feel a connection to the people they’ve helped. Of course, human connection can be complicated, but connected people generally want the best for each other.

More Than One Way to Give

Your money

Whether you’re writing a check or swiping your credit card to donate, make sure the organization you are supporting has been thoroughly vetted. Researching how much their CEO is paid, the employees’ payroll, the overall impact of the organization, and the way they spend their donations will paint a picture of how their organization operates.

Employees are essential, administrative tasks must be done, and an organization cannot run without significant maintenance costs. Still, donors want to see the money they’ve given reach the people needing help. We would like to fund a new project or outreach; however, keeping the old initiatives alive is important too. Perhaps consider donating to an existing program with proven, ongoing results.

Your possessions

Many organizations keep a wish list of items they’re hoping to receive. These donation lists are usually on their website or may be available by request. The wish lists usually include everyday items that could help their organization.

Your time

If you’ve got budget constraints, consider volunteering. For most organizations, volunteers are harder to find than donations. Why? Because a donation can be a one-and-done transaction, but volunteerism cuts into the most valuable human resource: time. Volunteering reduces administrative costs and preserves resources. Ongoing volunteerism is a great way to alleviate stress for the organization’s employees. Every task performed by a volunteer allows the staff to concentrate on using their specialized skills. Even what seems to you like a small contribution can make a big difference.

Volunteering can create a connection and sense of gratitude few other tasks can. Plus, the people you meet while volunteering are some of the most hard-working and dedicated people around. Although their mission may vary, people who choose to work for a nonprofit have a shared passion for improving the world.

Your commitment

Ongoing donations are the lifeline of charitable and nonprofit organizations. It’s estimated that acquisition costs for new donors range between $.50 to $1.00 for every new donor dollar. Additionally, only 23% of donors are attracted to give a second time. Ongoing donors reduce the need to spend time and money on fundraising campaigns, advertising, and events, allowing the staff to concentrate on the actual work. After all, if the amount spent to attract donors detracts from accomplishing the organizations mission, the people needing assistance will receive less help.

Reasons this Season

The holiday season is packed with events needing volunteers and donations.  You may join team members of SRP Federal Credit Union, your credit union in Augusta, Ga. and the CSRA, out volunteering this holiday season! You may donate because of a passion you feel for a cause, because you’re thinking of looming deadlines for tax-deductible gifts, or you may just have some extra money to share. Whatever your motivations to donate may be, the organization you give to will be appreciative of your contribution. Whether it’s your time, money, or both, the staff at these charitable organizations and nonprofits understand the significance and sacrifice of your donation.

This article is for informational purposes only. Membership required. SRP is federally insured by NCUA.

Article Credit: BALANCE

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Online shopping is more prevalent than ever. At SRP Federal Credit Union, we understand that it can be difficult to discern whether or not certain websites are safe. Make sure to do everything you can to avoid becoming a victim of cybercrime:

1. Secure mobile devices and computers. Keep the operating system and application software updated/patched on all of your computers and mobile devices. Also be sure to check that any antivirus/antispyware software installed is running and receiving automatic updates.
2. Limit your online shopping to merchants you know and trust. If you know the store, shopping their online store is very safe. If you have issues, you can always visit the brick-and-mortar store. But, if you don’t know the store, be weary. Especially ads for stores that pop up on social media sites. It may be legit but take precautions. Conduct your own background check by checking with the Better Business Bureauor the Federal Trade Commission, or at online sites that review e-stores. If the store isn’t reviewed or doesn’t have good reviews, don’t order from their website.
3. Look for "https" when making an online purchase.The "s" in "https" stands for "secure" and indicates that communication with the webpage is encrypted. If you submit your credit card information through a website, make sure the site is secure. Look for a padlock or key icon in the browser's status bar and "https" appears in the website's address bar before making an online purchase. Also keep your browser software up to date.
4. Password protect your mobile device and computer. It's one of the most important steps to secure your mobile device and computer. When you create an account with the merchant, be sure to use a strong password. Use at least eight characters, with numbers, special characters, and upper and lowercase letters.    
5. Do not respond to offers that seem too good to be true.An online store whose prices seem too good to be true, or that promises too much at too low a price is suspicious. The online store may not have come by these items legally, or you may never receive them, or you may get a bait and switch and end up with something you didn’t order.
6. Avoid scams and fraud.Don't ever give your financial information or personal information over email or text. If you receive an email asking for donations, contact the organization directly to verify the request.

If a website you are trying to shop on claims to have an issue with your card and portrays itself to be a contact with SRP asking for your personal information to verify a purchase, don’t fall for it. SRP Federal Credit Union will NEVER solicit you for personal information via email, text, or telephone. If you require assistance, please send a secure message by using the Message Center in SRP Online or SRP Mobile.

7. Do not use public computers or public wireless for your online shopping. Public computers may contain malicious software that steals your credit card information when you shop online. Criminals can also intercept traffic on public wireless networks to steal credit card numbers and other confidential information.
8. Pay by credit card, not debit card.  It's safer to shop on the internet with a credit card rather than debit card. Credit cards are protected by the Fair Credit Billing Act and may reduce your liability if your information was used improperly.

At SRP in Augusta, no matter the card you choose, you will enjoy amazing benefits such as no annual fees, no balance transfer fees, and EMV micro-chips for security among other benefits.

9. Print your online transactions. Print or save records of your online transactions, including the product description and price, the online receipt, and the emails you send and receive from the seller. Carefully review your credit card statements as soon as you receive them to confirm that all charges are legitimate. Contact your credit card company immediately if you have unauthorized charges on your account.
10. Review privacy policies.Review the privacy policy for the website/merchant you are visiting. Know what information the merchant is collecting about you, how it will be stored, how it will be used, and if it will be shared with others.

With online shopping not going away anytime soon, educating yourself on online shopping safety is paramount to your financial health. If you would like the discuss the subject further, visit one of SRP’s many locations throughout the Augusta area.

This article is for informational purposes only. Membership required. SRP is federally insured by NCUA.

Article Credit: CUNA

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There are certain times in life when particular money management areas need special
focus. The list below may remind you of areas of your finances that need special
attention now or in the near future. Bear in mind that our stages are generalizations:
some people are married with children in their twenties while others do not have
dependents until their 50s, if ever. Whatever your situation, it’s important to plan ahead
to accommodate the coming changes in your financial situation.

20s
This is a time when you probably finish your formal education and begin your first “real”
job. Now is the time to start developing sound financial habits for a lifetime.

• Establish credit and maintain a good payment record. Do not charge more than you can pay off in 3 months (or better yet, within the month).

• Set up an emergency savings fund, typically 3-to-6 months’ living expenses. Keep this money as liquid (accessible with few, if any, penalties) as possible.

• Start learning about investing and establish an automatic savings program to reach your financial goals.

• If you can, buy a home, or start saving for the down payment.

• Make sure you are taking full advantage of the savings benefits available to you through your employer: 401(k) or 403(b), et cetera.

• Make sure you have adequate insurance coverage (life, home, auto, health, disability, liability).

30s

If you have children, begin investing for their education.

Continue to keep credit under control and avoid paying finance charges and annual
fees.

Write a will or review the one you have.

Review your insurance coverage in light of changes in your family situation,
increasing assets, or professional activities.

40s

As your income grows, look for investments and savings plans that shelter some of it
from taxes.

Use a retirement planning software program or see a financial planner to figure out
exactly how much you’ll need to have saved to maintain your lifestyle in retirement.

Step up personal and employer-sponsored retirement savings accordingly.

Review your investment allocation and make sure you are still well diversified

50s

Review your will and estate plan.

Pay off your debts. Depending on the going rates for different types of investments,
it may or may not be wise to pay off your mortgage now.

Maximize your savings for retirement.

Make sure your growing assets are protected by liability insurance.

60s

As you near retirement, switch a portion of your investments to low-risk types to
produce income rather than higher-risk growth.

With life expectancy increasing, make sure a portion of your retirement nest egg is
invested so that it continues to outpace inflation.

Maintain your health and long-term-care insurance.

Remain wary of scams aimed at seniors.

Research reverse mortgages if you are a homeowner. You may need to tap the equity
in your property to supplement your retirement income.

It’s good  to remember that no matter what life stage you are in, SRP Federal Credit Union can help. With twenty branches in our ten-county service area that includes Augusta, Ga., and Aiken, SC, there’s sure to be one near you. With the services you want, like convenient online availability, to services you may desire, like one-on-one financial counseling, SRP is here for you. We look forward to assisting you soon.

This article is for informational purposes only.  Membership Required.  SRP is federally insured by NCUA.

Article Credits: Balance