Three Financial Resolutions to Kickstart 2025 with Confidence

January 2, 2025

The start of a new year is the perfect time to set financial goals that position you for success. Whether you’re working to improve your credit, reduce debt, or boost your savings, these strategies can help you begin 2025 with confidence.

  1. Strengthen Your Credit

    Your credit score is a powerful tool for unlocking better loan rates and financial opportunities. Start by reviewing your credit report to identify areas for improvement. Reduce balances on high-interest credit cards, keep your credit utilization below 30%, and prioritize on-time payments—set reminders or automate them to stay consistent. For added support, the OU Credit Union VISA Signature Credit Card lets you build credit while earning cashback rewards.
     
  2. Tame Your Debt

    Debt can feel overwhelming, but breaking it into smaller, manageable goals makes it easier to handle. Start by listing all your debts, noting balances, interest rates, and minimum payments. Then, choose a repayment strategy: the snowball method (paying off smaller debts first) or the avalanche method (targeting higher-interest debts). Consolidating debt with an OU Credit Union loan can also streamline payments and may reduce your overall costs.

     
  3. Boost Your Savings

    Taking small steps toward saving can lead to significant results. Automate regular transfers to a separate savings account for specific goals, like holiday shopping or a vacation. Focus on building an emergency fund with at least three months’ expenses. The OU Credit Union Savings BuilderSM account can help you grow your emergency fund faster with higher dividends on your initial deposits.

    Plus, when you open a new Savings Builder account and deposit at least $100 by January 31, 2025, you’ll be entered into the OU Credit Union Savings Builder Challenge. Then, add at least $100 each month through December 2025 and you could win an additional deposit of $100 by successfully completing the Challenge with at least $1,200 in your Savings Builder account at the end of 2025. You can add to your savings balance in small amounts from each paycheck, set up direct deposits, or make at least the minimum required deposit anytime throughout the month. Visit our website for more details.

Achieving your financial goals takes dedication, but the right resources make the journey smoother. OU Credit Union is here to help with personalized products, budgeting tools, and financial education courses to keep you on track in 2025 and beyond. Start today—your future self will thank you!

Tags: Money Management, Savings, Tips and Tricks