Clark County Credit Union’s Personal Finance Projects to Do While in Quarantine
The quarantines brought about by COVID-19 have left many people home with extra time on their hands. One way to utilize this extra time that will have long-term benefits is to get your personal finances in order. At Clark County Credit Union, we’ve compiled a list of a few projects that will help you both now and in the future.
Automate Bill Payments & Transfers
If you aren’t already automating your personal finances wherever possible, now is a good time to start doing so. You can set up automatic bill payment for most bills, and regular transfers into savings that you make can also be set up to automatically go through. Once all of the bills and transfers are automated that can be, you’ll save time, avoid missing due dates on bills and not have to worry about forgetting to put money into savings.
Develop Investment Goals & a Strategy
You might not want to look at your investment portfolio right now, given the stock market’s response to the pandemic. This is, however, a good time to review your overall investment goals and strategy. The pandemic has made many people reconsider their priorities, and there’s enough time right now to research various investment strategies. Check whether your short-, mid- and long-term financial goals are still what they were pre-pandemic, and review strategies that can help you achieve each of those goals. You may want to consult a financial advisor at a credit union as you go through this process.
Pick Up a Side Gig
Many people have already joined the gig economy, as the side work that gigs offer can provide a substantial boost to income and come with flexible work hours. While some side gigs that involve hosting or driving are quiet right now, there are plenty of online opportunities to earn extra income. Filling out surveys, being an online juror, tutoring, and writing are just a few of the many gigs that people do. Using the extra time at home to establish yourself with a side gig could provide extra income not just now, but also in the future. If you work hard at a gig now, you can return to it in the future whenever you want a little extra money.
Use Additional Funds Wisely
If you’re one of the many people who are receiving additional money from the government, use the funds you get wisely. Paying off debt and building up an emergency fund are two good ways to fortify your finances with a bit of extra cash.
Reach Out to Clark County Credit Union for Assistance
If you need help with any aspect of your personal finances, reach out to us at Clark County Credit Union. You can reach us online, via email, via phone at 702-228-2228.