August is the month to make the most of each summer day, especially if you live in Ohio. But it’s also a time for transition as kids head back to school and calendars start filling up with fall activities.
Whether you're organizing end-of-summer outings or checking off to-do lists, here’s your reminder to focus on one area that deserves a little attention too: your finances.
An intentional financial reset now can help you head into fall with financial confidence and potentially lower expenses. Here are five smart steps to take.
Review and reset your budget
Summer can be packed with fun, but it can also bring increased expenses or impulse spending on vacations, dining out, entertainment, and other activities.
Here are a few questions to help you review and reset:
- Are there subscriptions I no longer use?
- Have my spending habits changed over the summer?
- Am I saving enough for upcoming fall and holiday expenses?
- Have any of my short-term or long-term goals changed?
By honestly answering these questions and taking action on them, you can make a significant impact for the remainder of the year.
Potentially pay less on your daily expenses
If you’ve been carrying a balance on a high-interest credit card that offers you points or bonuses all summer, you should consider if using that card is the best option. A balance transfer to a lower-rate card can help you lower your payment, making it easier to pay down your balance while potentially saving money on interest.
Look into credit card options with competitive rates, cash back rewards, and straightforward terms designed to help you keep more of your money. A balance transfer before the busy fall season can be a great way to start fresh.
Give your car payment a checkup
Thinking you're trapped with your current car loan is a common misconception. Even if you bought your car more recently, it could be possible to lower your monthly payment by refinancing your loan. Depending on your situation, refinancing could also help reduce the amount of interest you pay over the life of your loan.
A lower monthly payment can free up room in your budget for savings, upcoming expenses, or other financial goals. Use this free payment calculator to help you figure out how much you could potentially save.
Set up a free financial counseling session
Credit Union of Ohio offers free financial counseling to help members navigate everything from budgeting and debt management to improving credit and planning for future goals.
Whether you're looking to pay off debt faster, build an emergency fund, or simply create a healthier financial routine, our team is here to help answer your questions and provide guidance on ways to improve your situation. Set up a session today and be on your way to making positive changes.
Stretch your dollars with free summer fun
Saving money can actually be fun and there are plenty of ways to take advantage of free events in your local community. Here are a few of our August favorites happening in or around the communities Credit Union of Ohio serves.
- Hilliard Celebration at the Station
Enjoy live music and summer vibes Thursday, Aug. 6 and 13 at Hilliard Station Park. - Grove City Summer Sizzle Concert Series
Pack a picnic and enjoy a free concert at Town Center Friday, Aug. 7 and 21. - Downtown Columbus
Plan a day of fun enjoying a stroll along the Scioto Mile or exploring a variety of free activities for all ages taking place in August. - Parma-Area Events
View this event calendar to find a free concert, movie night, or kid-friendly activity close to Parma. - Niles Events
Head over to McKinley Memorial Library for a variety of fun activities, including crafts, movies, yoga, and more!
At Credit Union of Ohio, we aim to be your trusted financial partner in providing access to the tools, guidance, and support you need to succeed. From free financial counseling and financial education to low-interest lending options and unique savings products, we’re here to help you build your best life. Ready to get started? Call 800.443.5698 or stop by your local branch to get personalized help today.