NEWS RELEASE

Media Contact:
Renee Beauregard 303-400-3456
Ken Scott 713-682-1382, pager 1(800) 901-4418

IMPROVE YOUR FINANCIAL FUTURE

By Renée Beauregard, Executive Director, Consumers United Association

How many times have you tried to improve your financial future? Contrary to popular belief, you don’t have to be wealthy to make a positive difference, just focused on your financial goals. Keep in mind that tomorrow’s money begins today. So, take some time to map out your strategy to bring everything into focus.

One remarkable known fact to acknowledge is that people spend almost a third of their day earning an income to support their lifestyle. So, evaluate the level of lifestyle you support from the car you drive, the clothes you wear, what you buy at the grocery store, if you cook dinner at home or eat out, and if you really get your money’s worth for that expensive gym membership, etc. Although all of us enjoy conveniences and the luxuries of life, be realistic and space them out to improve your financial future, not weigh it down.

Here are some ideas to help you get in sync with healthy financial choices. Pay yourself first; set-up a Christmas Club account at your credit union to ease holiday shopping debt this winter; pay down your credit cards and negotiate better rates; carefully review your credit reports; increase your 401(k), 403(b) or 457 plan at work; start an IRA to supplement your retirement plan at work; review your life and disability insurance coverage; save your loose change; reduce your entertainment expenses; establish an automatic direct deposit into your savings account; pay some extra principal towards your mortgage payment each month; and read savvy financial books to help you along the journey to financial success.

Overhauling your finances may be a little extreme so just take it one step at a time. For example, start moderately and save $10 a week for a few months and then increase it to $20 and so on. Also, look over your pay stub and determine how much you make an hour, a week and a month and try spending less than you make and save the rest.

As you strive to improve your financial future, find out if your credit cards offer rebates or points by visiting www.cardweb.com.  Additionally once a year, make an effort to donate gently used clothing and household items to a local charity to reduce your clutter, help someone in need plus receive a tax deduction for your donation. Another great way to bolster your finances is by using Flexible Spending Accounts if you have a big family and/or tend to visit the doctor regularly and have multiple reoccurring prescriptions that could benefit from pre-taxed dollars.

Improving your financial future requires patience, planning and persistence. Dedicated to educating consumers on financial issues, Consumers United Association (CUA), a nonprofit consumer advocacy association that serves consumers in Colorado, aids consumers in the resolution of consumer problems and provides a united voice for consumers in the legislative arena. Membership to CUA is open to Colorado residents who are interested in financial education and advocacy and is only $5 annually and $25 for a lifetime. For more information visit: www.cuacolorado.org.