Author: Joanna Swanson, Head of Direct Sales, First National Bank of Omaha
From budding trees and blooming flowers to lighter wardrobes and cleaner spaces—I’ve always loved the fresh beginnings associated with spring. As you begin your spring cleaning, don’t forget to freshen up your finances! We’ve compiled the following tips to help you review your relationship with money and enhance your personal finance skills:
- Create a budget. Whether it be housing, transportation, food or medical costs—individuals with disabilities face higher expenses in most aspects of life. Therefore, budgeting is an especially important tool for individuals with disabilities. When creating your budget, consider:
- Your monthly expenses: Include everything that you pay for regularly, including your mortgage/rent, utilities, groceries, transportation, medical costs and other disability-related expenses. These expenses can’t simply be cut out—so be sure to prioritize them!
- Your income: Are you living on a fixed income? This article from Mint lists fixed income budgeting steps that will build your financial security and put you in control of your money.
- Your employment status: Are you able to work? If so, these extra earnings can be a game-changer for your budget and savings. If you need more information on joining the workforce, the U.S. Department of Labor’s Office of Disability Employment website is a great place to start.
- Look at your Enable Savings Plan account. When evaluating your Enable account, consider your savings goals and how you plan on achieving them. Should you be saving more for a larger purchase you plan on making this year? Evaluating your account can be easily done online or by calling or emailing us. Click here to contact us or give us a call at 1-844-ENABLE4 (1-844-362-2534). Our client service representatives are available Monday-Friday from 8:00 a.m. to 8:00 p.m., CT.
- Update your passwords. Beware of computer hackers! While you are doing your financial household spring ritual, update your passwords on your savings and investing accounts, including your Enable account. Prepare a list and share with a trusted person, in the event you forget or lose your new passwords.
We hope these tips help you freshen up your finances—happy spring cleaning!
P.S. One final tip: Clean and check under your sofa cushions for spare change to add to your savings. You’ll be cleaning and saving at the same time—talk about killing two birds with one stone!