The Weekly Roundup: What to Know this Week

Welcome to the Chime Weekly Roundup! Each week we bring you a roundup of the best money tips, tricks, and hacks that will help you, and your friends, lead healthier financial lives.

Whether it’s paying taxes, being aware of what you pay in bank fees, or having the money-talk with the roomies, it’s never a bad time to assess how effectively you are managing your money. Even an effort to make small changes can have a big effect on your financial wellness, and there’s no better time than now to get started.

1. What to say to your friend who is paying bank fees and doesn’t know it…

Time to investigate. Most people are getting charged some kind of bank fee and not realizing it’s happening. Call your bank and ask what kind of fees they charge, and if you’ve been charged for any of those recently. If you decide you don’t want to pay fees, you could benefit from switching to a bank that does profit by charging its members fees.   

2. What to say to your friend who looks forward to tax season as a chance to go shopping…

Invest in the long term. Stash away that money in a tax-sheltered account so goes further, or try to kick-start a few savings goals. You could even put that money away to help build your emergency fund. Whatever it is you decide on, try to think how the choice will benefit you in the long term.

3. What to say to your friend whose roommates get out of hand with the money…

Set the ground rules. Review your monthly expenses and decide what is important, and who will handle each role. Remember to be clear and firm about these roles, as it will be less of a headache now to ensure everything gets done in advance, then to play catch-up later in the month. Also, plan a time in the future to have a sit-down and have a financial check-in to make sure everyone’s happy with the process.

4. What to say to your friend who thinks they are all prepared for tax season…

Are you up to date on current events? While you may be prepared and confident from preparing last year’s taxes, with a new administration in office, there are some significant changes coming. Read up on the upcoming changes and look into how they will affect you so you can prepare an accurate tax return. If you need help always consider reaching out to a professional.

We hope you enjoyed this week’s weekly roundup, and of course your weekly roundup bonus from being enrolled in our Automatic Savings program! 

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