Facing 2025: How to Strengthen Your Finances Amid Economic Uncertainty
Expert advice on what you can do in the coming months to boost your financial wellness, from HawaiiUSA Federal Credit Union.
As we settle into 2025, now is a perfect time to review your financial situation. Whether you’re on target, have already detoured, or haven’t started, today is a new opportunity.
There’s a lot going on that’s out of our control.
“Geopolitical conflicts, rising trade tensions, and elevated borrowing costs could challenge economic stability and growth for 2025,” says Matthew Sanemitsu, Vice President – Treasurer at HawaiiUSA Federal Credit Union.
What does this mean for Hawaii households?
“Consumers may face higher prices for goods and services, putting more strain on budgets,” adds Sanemitsu.
So, what can you do in this first quarter of 2025?
Tip #1: Tame the “What-ifs” by saving for emergencies
When times are tough, a buffer for unplanned expenses may seem like a luxury, but could prevent a financial setback when life happens to you or someone you care for.
- Start by opening a separate savings account or certificate
- Set up monthly automatic transfers to build three to six months of living expenses
Tip #2: Plan for the long view by reviewing your retirement
Don’t lose sight of your retirement strategy. Your future self will thank you.
- Are you taking advantage of your employer matching program? Can you increase your contributions?
- Consult a financial advisor and set regular check-ins
Tip #3: Let daily habits work for you
Optimize rewards and perks on daily spending (within your budget, of course!).
- Check out debit cards that earn rewards
- Look for free accounts with no hidden fees
Want personalized recommendations? Take the Financial Wellness Assessment or get in touch with a certified Financial Coach today.
hawaiiusafcu.com
808.534.4300
