Building strong money habits and reaching your financial goals requires more than just an annual planning and budgeting session. Life generally doesn’t go completely as we planned which is why a mid-year financial review is key for financial success.
The Federal Reserve just recently announced another increase in the federal funds target rate which for consumers means an increase in the prime rate. Additionally, the Fed has indicated there could be three to four more increases this year. There are consequences for everyone when prime rate increases.
June is national safety month so it is a good time to think about financial safety. Identity theft and fraud continue to be pervasive and consumers need to be vigilant. There are ways you can help lessen your chances of being a victim.
A lifetime of good financial decisions can all be undone with a few poor financial decisions that have long term impacts. Sometimes the biggest key to financial success is driven by the actions you avoid rather than the actions you take.