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April 14, 2022
Financial Spring Cleaning: Four Tasks for April
It’s time to do some spring cleaning, and we’re not just talking about cleaning up around the house. We’re talking about your finances! April is Financial Literacy Month, so there’s really no better time to make sure your finances are in ship shape. Let’s take a look at some financial spring cleaning tasks you can complete this month.
1. Review your budget.
We’re almost a third of the way through the year. How’s your budget plan working for you? Are you on track? Take this chance to go through your recent spending and saving in detail, then make any adjustments as needed to meet your goals for 2022.
New to budgeting? Get started today. We don’t want to sound like a broken record here, but everyone needs a household budget. Budgeting helps you manage money in versus money out and keep a birds-eye view on your finances, which enables you to save for a rainy day, plan for retirement and much more.
2. Clean up your subscriptions.
A recent survey found that Americans spent $273 a month on subscription services in 2021, and 100% of respondents were unaware of their actual spending on subscription services.1 Don’t let those fees sneak up on you. Some of the most common subscriptions include:
- Online retail memberships
- Book and gaming services
- Beauty, fashion, lifestyle or pet monthly boxes
- Meal and grocery delivery
- TV, movie and music streaming
- Fitness, wellness and diet apps
Review all your subscription-based services to make sure they aren’t adding up to more than you want to spend. Love it and use it? Keep it. Forgot you had it? Hit the unsubscribe button.
3. Think about your goals.
Jump into spring with your financial plan in mind. What are your financial goals for the rest of 2022? Here are some ideas to get you started:
Thinking about future retirement? Time is key when it comes to planning for retirement, so contribute to your retirement fund early and often. Understand the value of time and compound interest.
Need to save more? Pro tip: automate your saving so the money comes right out of your paycheck, and you’ll miss it less. Try upping your saving by just 1% each week this month to develop the discipline. Check out the Savings Goals tool in online banking.2
Want to take a dream vacation? It’s important to take a break from the hustle and bustle, but travel can be expensive. Start saving for your next trip with a vacation fund. Learn six tips for taking a vacation while on a budget.
4. Check your insurance coverage.
Love it or hate it, insurance is a necessity in many areas of life. As life circumstances change, so do your insurance needs. Take some time this month to review your insurance policies, check your coverage and make sure all your policies still fit your situation.
Upgraded your vehicle? Consider adding comprehensive and collision coverage to your auto policy. Moved to a new home? Make sure you’re adequately protected with homeowners insurance and flood insurance. (Learn more about flood insurance and why you need it.)
1West Monroe. The State of Subscription Services Spending. August 2021. Accessed February 16, 2022. https://www.westmonroe.com/perspectives/report/the-state-of-subscription-services-spending. 2Additional data charges may apply when using apps. Please see your wireless carrier for more information.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
- Debit Card or ACH (Available for auto, personal and home equity loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card and personal loan payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466
Address for mortgage and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733