April is Financial Literacy Month and First Financial is here to guide you on getting in touch with your finances with smooth sailing. While financial automation can be a great way to bring ease into managing regular expenses and savings, it also demands a vigilant approach to ensure your financial health remains robust. Here are some important things to keep in mind when automating your finances and areas of consideration when conducting necessary financial check-ups.

Catch Mistakes Early

Automation doesn’t guarantee perfection. Errors in billing amounts or unexpected charges can occur. Regularly reviewing your accounts allows you to spot these discrepancies early, preventing minor issues from escalating into financial headaches. At First Financial, we encourage members to utilize our mobile banking app and card management resources for effortless monitoring of finances.

Maintain Awareness of Spending

It’s easy to let automation lead to an out-of-sight, out-of-mind attitude toward your finances. However, this approach can cause you to lose track of where your money is going and lead to unnecessary spending – deviating from your financial goals. First Financial offers budgeting tools and resources that help you stay on top of your spending habits, ensuring you’re always aligned with your financial aspirations even when you’re not actively thinking about them.

Strategic Financial Planning

Automation should enhance, not hinder your ability to plan for the future. Regular check-ins with your personal financial plan and budget will allow you to adjust as needed, keeping you on track toward your long-term goals. Whether you’re saving for retirement, planning a major purchase, or building an emergency fund – our planning resources are designed to support your journey toward financial stability and success.

Conducting a Financial Check-Up

Don’t overlook the value of a comprehensive financial check-up. First Financial’s suite of online tools and personalized advice from our team can guide you through this process, ensuring your financial well-being is always at its peak.

Key Areas to Review:

• Net Worth: Start by evaluating your current net worth to understand where you stand financially. Compare it with past assessments to gauge your progress or identify areas needing attention.
• Financial Plan: Revisit your financial goals and the plan you’ve laid out to achieve them. Are you on track? Adjustments may be necessary to realign with your objectives.
• Insurance Coverage: Review your insurance policies thoroughly. Ensure you have adequate coverage for your assets while also identifying opportunities to optimize premiums.
• Investments: Examine your investment portfolio. Check if your asset allocation aligns with your risk tolerance and financial goals. Look for ways to reduce fees and improve returns.
• Spending and Saving Habits: Assess your spending patterns and saving practices. Ensure they’re aligned with your financial priorities and adjust where necessary, to meet your goals.

By regularly performing these checks, you’ll maintain a strong pulse on your financial health and adapt more effectively to life’s changes. First Financial is here to support your financial check-ups and to help you navigate your financial journey with ease and confidence. Remember, your financial well-being is our top priority. Let’s make this Financial Literacy Month a milestone in your journey toward financial empowerment! For more personalized financial assistance call 732.312.1500 or visit a branch today.