Provincial Credit Union ’s Post

Saving money is essential, but choosing the right savings account can make a big difference. STCU's blog post provides valuable insights and pro tips to help you select the perfect savings account.

💰 The Annual Financial Check-Up for Doctors You don't need a CFP® for this - these simple financial items are easy to do yourself. Set aside a few hours each year to get your important financial items in good order. Key Takeaways: 💰Increase your savings more easily by taking advantage of annual pay increases. 📉Pay down your debt by using the snowball or avalanche method. 🚨Start building your emergency fund & tips on "how-to". 💳Pay attention to your credit score and your free credit report to see how you’re doing and ensure you can borrow more money at lower interest rates when you need it. 👨💼Shop around for new homeowner’s and renter’s insurance (and bundle them!) for better savings! Blog Post: ⬇️

Have you been told you make too much money to benefit from a Roth IRA account? There are strategies that exist that you may not know about. If you earn too much to contribute directly to a Roth IRA, reach out to us for guidance on the appropriate strategy for your situation. We want to help you benefit from this tax-advantaged account. Please follow our page for weekly resources.

Check out these 6 money management mistakes you should avoid! ⬇️

We create wealth by investing our savings and letting it grow over time. This growth is the time value of money. Find out how the time value of money will turn small sums of money into extremely larger sums of money.

Wondering about some common money management mistakes to avoid? Here's 6 to keep an eye on: 📝 Not Having a Budget - Without a clear plan, it's hard to track your spending and savings goals. 💳 Living Beyond Your Means - It’s tempting to spend more than you earn, but this often leads to debt. Focus on saving for big purchases instead of relying on credit. 🚨 Ignoring Emergency Savings - Life is unpredictable! Make sure you have an emergency fund for those unexpected expenses. 🏖️ Failing to Plan for Retirement - It’s never too early to start saving for the future. Take advantage of retirement plans like a 401(k) or IRA, and maximize employer contributions if available. 📈 Not Investing - Letting your money sit in a savings account can limit growth. Consider investing to grow wealth over time. ☕ Overlooking Small Expenses - Daily coffee runs or impulse buys can add up! Be mindful of where your money is going. By avoiding these common mistakes, you’ll be better prepared to meet your financial goals! Want some help? Click here: https://lnkd.in/dXattns7

OPINION | Know who to trust with your money - and when https://lnkd.in/dyhCCa2z

From establishing an emergency fund or managing debt, to saving for a dream vacation, a home down payment, and retirement, #SavingsBuckets can help guide employees towards achieving their savings objectives.

Are you anticipating having leftover funds in a #529Plan after college? With the introduction of the SECURE 2.0 Act, you may have heard about the option to transfer 529 assets into a Roth #IRA account. However, it's important to understand the specific eligibility criteria for this transfer. Failing to meet the criteria could result in tax consequences and penalties. For instance, the 529 account must have been active for at least 15 years before the rollover. Talk with your financial advisors to investigate whether your 529 funds are eligible for transfer and if this option aligns with your long-term financial plan. #financialplan