Five Ways to Keep Your Financial Freedom

The summer months are all about freedom. It’s not just about enjoying the summertime, barbecues with friends, and vacation time. Summer is also a great time to celebrate your financial freedom.

But with headlines about uncertainty and concerns about a recession, how can you ensure that your finances are in the right place? The good news is that maintaining good financial habits in the summer – and throughout the calendar year – can help you thrive throughout what may come.

By being smart about your spending, maintaining your budget and maximizing your resources, you can enjoy the benefits of financial freedom all summer long. Here are five ways you can celebrate your good money habits.

Revisit Your Budget

Even though it may be summer, your budget never takes a break. That’s why it’s important to revisit your budget several times per year to make sure you’re still on track with spending, saving, and paying down debts. Before you take those vacations or tackle big home improvement projects, start by looking at your budget and make adjustments where necessary to ensure you can afford all your grand plans without taking on unnecessary debt.

Keep Working Towards Bigger Financial Goals

Enjoying the warm weather might mean increased spending, but don’t forget to keep working towards your bigger, long-term financial goals — like adding to your long-term savings, boosting your retirement account, or paying down debt. No matter what you’re working towards, your budget should always include something to maintain those goals. Even small amounts make a big impact over time. If you need help visualizing or planning for your goals, check out the financial calculators on the SESLOC website to help you see the impact of saving more, how to pay off a credit card balance, or what it would take to save towards a goal.

Automate Your Savings

Did you know you that automatic deposits are the easiest way to save?  By setting up a recurring transfer in Online Banking, you don’t have to worry about missing a savings deposit on your regular schedule. To boost your savings further, you could even enroll in a program like Change it Up¹, where your purchases are rounded to the nearest dollar and the change is deposited into an account of your choice. If you pair it with the 12-month Save to Win share certificate², you can even increase your odds of walking away with extra money every month.

Save Money with Rewards Points

You may not realize it, but your spending on the SESLOC Visa Signature Rewards Card and your debit card linked to a SESLOC HomeFREE Checking account are earning you valuable SESLOC Rewards³ points. And when you use your cards at a participating Local Rewards⁴ local business, you’re earning even more points as an extra thank you for keeping your money local. Those points can be used for many different rewards, including gas discounts, merchandise, gift cards, and even cash back into your account.

Strategize Your Road Trips

There’s no reason you shouldn’t drive down the costs of road trips when you’re driving up the coast. Planning ahead by calculating gas mileage, searching for gas stations between destinations, and packing snacks instead of buying them on the road, are easy ways to lower your expenses and enjoy more at your destination. Plus, shopping at participating Local Rewards partners can help you boost your SESLOC Rewards points, making it easy to stack savings with bonuses.

And when it’s time to trade up to something that can pack a little more cargo or is more fuel efficient, SESLOC’s AutoSMART program can help you shop for a car, get financing, and make your route your next new vehicle a lot simpler.

Bonus Tip: Stay Up to Date on Scams in Our Fraud Center

Financial scams continue to make headlines this summer. Scammers can spoof the real phone number of a trusted business—like your financial institution—to add legitimacy to their phishing attempts in order to trick people into revealing sensitive information. It’s important to stay up to date about all the latest scams to keep your family and your assets safe. You can always learn more about fraud prevention and current incidents via our Fraud Center at sesloc.org/fraud-center.

As a reminder: SESLOC will never call, text or email you and ask for personal or confidential information. If you believe the communication is suspicious, do not respond, hang up immediately and report the incident to SESLOC at (805) 543-1816 or send a Secure Message in Online Banking.

When it comes to financial independence this summer, balance is important. Through balancing fun spending with your long-term goals, you can enjoy all the freedom the season brings while still maintaining a healthy financial life.

1: When you enroll in SESLOC’s Change It Up program, you understand that the amount of any SESLOC debit card purchase made by a cardholder issued a debit card associated with your checking account will round up to the next whole dollar and the excess of the purchase amount transferred into your selected savings account. If a debit card purchase is refunded or cancelled, the corresponding Change it Up transfer remains in your savings account. SESLOC may cancel or modify the SESLOC Change It Up service at any time without prior notice. Change it Up service is not available for business debit cards, and you may not transfer to a Consumer Money Market or Consumer Building Block Share Certificate Account.

2: Limit one Save to Win 12-month Share Certificate per consumer member. The account is not available to businesses, including sole proprietors, trusts and organizations. Consumer member must be 18 years or older and a resident of California to participate in the Save to Win Savings Promotion. No purchase necessary. 12-month Share Certificate account will automatically renew upon maturity. Early withdrawal incurs a penalty fee, with a limit of one withdrawal per 12-month term. Must maintain an average daily balance of $25.00 for the account to remain open. Winners agree to permit SESLOC CU to use their likeness in promotional or their materials. Membership in good standing required for all Credit Union benefits. See the Member Account Agreement and Disclosure and Fee Schedule for additional terms, conditions and fees that apply to your account. Refer to SESLOC CU Save to Win Savings Promotion Official Account and Prize Entry Rules for additional terms, conditions, eligibility and restrictions that may apply.

3: SESLOC Rewards program Terms and Conditions can be found at seslocrewards.org The SESLOC Rewards program (“Program”) is a service provided by SESLOC Credit Union (“Sponsor”) and managed by ampliFI Loyalty Solutions, LLC (“Administrator”). Participation in the Program is exclusive to those who have a current HomeFREE Checking™ debit card or a SESLOC Visa Signature® Rewards credit card issued by the Sponsor. There is no pre-registration required. By making eligible transactions with a HomeFREE Checking account debit card and the SESLOC Visa Signature Rewards credit card, the cardholder is accepting the terms and conditions of the Program. See seslocrewards.org for Program terms and conditions. You retain the option to utilize these services as long as you are a HomeFREE Checking or SESLOC Visa Signature Rewards cardholder, subject to terms and conditions. Sponsor and Administrator reserves the right to modify, expand, discontinue, or retire any part of the program at any time.

4: Local Rewards bonus points are earned on purchases made at participating Local Businesses only. Participating Local Businesses (“merchants”) are subject to change at any time without notice. Participation in Local Rewards does not constitute an endorsement on the part of either the merchant or SESLOC Credit Union. Purchases made at participating merchants processed through third-party services (e.g. DoorDash, Grub Hub, Uber Eats etc.) may not qualify for bonus points under Local Rewards. Local Rewards is part of the SESLOC Rewards program; see seslocrewards.org for complete terms, conditions, restrictions and eligibility that apply. For any questions regarding Local Rewards, contact SESLOC Credit Union.