Budgeting Strategies, Checking Accounts and More for Your Financial Refresh

The best time to take control of your finances isn’t after a setback — it’s when you’re ready for something better.

A financial refresh doesn’t always mean starting over from scratch. It’s about reviewing your habits, setting new short-term and long-term goals, and finding new helpful tools to get you on the right path or keep you there. 

Here, we’re going to focus on five practical steps for starting your financial refresh:

1. Creating a new budget, or reviewing and editing your existing one.
2. Reviewing your checking account and exploring other options.
3. Setting spending alerts.
4. Planning for responsible credit card use.
5. Monitoring your credit.

Let’s explore five practical ways to create a financial refresh – and how Veridian Credit Union’s tools and resources can help you along the way.

Build a Realistic Budget Strategy That Works for You

Budgeting is the foundation of any financial refresh. It gives you a clear picture of where your money goes each month and helps ensure your spending aligns with your goals.

Here are some easy budgeting tips to get you on the road to success:

1. Track Income and Expenses

Start by adding your monthly income, then identify all your expenses. The goal will be to ensure your expenses are less than your income. 

2. Separate Needs vs. Wants

Once you’ve identified your expenses, separate them into things you need – like housing payments, car payments, electric bills, etc. – and things you want – like dining out, streaming services, etc. 

This step alone could help you identify some easy ways to cut spending and free up some room in your monthly budget. 

3. Set Short- and Long-term Savings Goals

Everyone should have short-term and long-term savings goals. Short-term goals could be saving for a vacation soon. Long-term goals could be about saving up for a downpayment on a home. 

Once your goals are set, keep your money in a savings account or a CD to watch your money grow. 

There’s no one-size-fits-all method for budgeting, but some popular approaches — like the 50/30/20 rule — can help you find a structure that fits your lifestyle. You can also check out Investopedia’s step-by-step budgeting guide for more budgeting tips to stay on track.

To make it easier, Veridian Credit Union’s online banking and mobile app let you track your spending, view balances in real time, and even set savings goals — all in one place. By keeping your finances organized digitally, you can make budgeting easy.

Or, if you prefer to start on paper, download our spending plan template. 

Choose the Right Checking Account for Your Goals

Your checking account is key for paying for many of your daily expenses. Having the right account can help you make the most of your money. 

For example, if you’re paying a monthly fee for your checking account, you may want to consider a different type of account at a different financial institution. Many financial institutions have free checking accounts, and some may even earn a higher interest rate for no additional cost. 

At Veridian, for example, we have three tiers of free checking accounts: 

• Free Checking: No monthly fees, no minimum balances. Just a simple and easy way to spend your money every day.
• Premium Checking: Earn a higher interest rate^{^} when you use your Visa^® debit card regularly. Other monthly qualifications apply.
• Premium Plus Checking: This is our highest rate on a checking account. Earn more^{^} when you use a Visa® credit card regularly and meet additional monthly qualifications.

Each account includes digital banking access, debit cards, and fraud protection — helping you manage your money securely and conveniently. Learn more about Veridian’s free checking accounts.

After selecting the right account, it’s important to track how money is spent.

Set Up Spending Alerts to Stay on Track

Even with a solid budget, it’s easy for day-to-day spending to creep up. That’s where spending alerts can make a real difference in keeping your financial refresh on track.

Spending alerts notify you when certain transactions occur — like when your balance drops below a set amount, when a large purchase posts, or when a charge happens outside your normal spending pattern. These alerts can help you:

• Stay accountable to your budget by tracking spending in real time.
• Avoid overdraft fees by catching low balances before they cause problems.
• Protect yourself from fraud by spotting unfamiliar activity quickly.
• Build awareness of your spending habits, helping you make smarter decisions over time.

Even small notifications can create powerful awareness. For example, if you set an alert for purchases over $50, you might think twice before making impulse buys. Over time, those moments of reflection can add up to significant savings.

With Veridian’s online banking and mobile app, you can easily set up personalized spending alerts that match your habits and goals. It’s a simple, proactive way to stay in control of your money while gaining extra peace of mind.

Use Credit Wisely to Support Your Financial Refresh

Credit cards tend to get a bad rep, but the truth is, responsible credit card use plays a key role in a healthy financial plan. Credit cards can create flexibility in your budget, help build your credit and earn rewards to help you save for future experiences. 

Responsible use is the key to credit cards. Here are a few tips for success: 

1. Pay your balances in full each month to avoid paying interest.
2. Keep utilization below 30% to prevent a negative impact on your credit score.
3. Use a rewards credit card so you can earn points or cash back on every purchase.

A well-managed credit card can even help you save money. For example, using a card with low interest rates or no annual fee can make everyday purchases more affordable.

Veridian’s Visa® Credit Cards offer low rates, no annual fees and flexible reward options — giving you more ways to make your money work for you. Whether you’re building credit or maximizing rewards, choosing the right card can help you make the most of every transaction.

Monitor Your Credit and Protect Your Progress

Your credit report and score play a big role in your overall financial health. They influence everything from loan approvals to interest rates, and keeping tabs on them helps you spot errors or signs of fraud early.

How to Check Your Credit Report

You’re entitled to a free credit report from each of the three major credit bureaus once a year through AnnualCreditReport.com. Reviewing your report regularly helps you understand how your financial decisions impact your score and identify opportunities for improvement.

Use Credit Monitoring Tools

In addition, Veridian members can monitor their credit score directly within the mobile app using Credit Central, powered by SavvyMoney. This free tool provides:

• Your updated credit score
• A full credit report summary
• Personalized tips for improving your score

By checking in regularly with these credit monitoring tools, you’ll be better equipped to make informed financial choices and maintain your refresh.

Start Your Financial Refresh Today

A financial refresh isn’t about perfection — it’s about progress. By creating a budget, choosing the right accounts, using digital tools, and keeping an eye on your credit, you’re setting yourself up for a stronger financial future.

Veridian Credit Union is here to help you make it happen with products and resources designed to make managing money simple, secure, and rewarding.

Ready to learn more about starting your financial refresh?

Check out our related articles and resources to keep building your financial confidence:

5 Tips for Sticking to a Budget This Year >
How to Use Your Credit Card Wisely >
Checking Accounts Compared >
Why Setting Banking Alerts Can Save You Time, Money, and Stress >
Understanding Your Credit Report and How to Monitor It >