Four Weeks to Better Financial Habits: Week Three

Four Weeks to Better Financial Habits

Financial progress doesn’t require major life changes. It’s built through small, consistent actions. After resetting and refocusing your finances and building financial momentum, it is time to start focusing on privacy and areas to keep a particular eye on to ensure secure finances. 

Week 3: Protect What Your Building  

As your financial habits strengthen, protecting your progress becomes just as important as building it. Week Three focuses on reducing financial risk, strengthening account security and making sure your savings and credit tools are working in your favor.

Review Account Security and Digital Access

Protecting your accounts helps safeguard your money, personal information and financial progress. Heritage’s Digital Banking tools provide several built-in security features designed to help members monitor and protect their accounts. Look for:

• Updated contact information within the Heritage Digital Banking app and online, including phone number and email address used for account alerts

• Account alerts and notifications related to debit card transactions, balance thresholds or login activity

• Strong and unique login credentials that are not reused across multiple websites or financial accounts

• Multi-factor authentication or additional identity verification settings available within digital banking
   

Regularly reviewing these features helps prevent unauthorized activity and allows members to respond quickly if something appears unusual. Tips for success:

• Enable transaction alerts for debit card and electronic payment activity

• Check account balances and recent transactions weekly

• Update passwords periodically and avoid sharing login credentials. Heritage will never call, text or email you asking for your personal digital banking passwords or personal information

• Report suspicious activity to Heritage promptly for assistance and resolution (812) 253-6928
   

Reduce High-Interest Debt

Managing debt strategically helps free up monthly cash flow and supports long-term financial stability. Reviewing loan and credit card balances allows members to identify opportunities to reduce interest costs and simplify repayment. Look for:

• Current balances and interest rates on credit cards, personal loans or other consumer debt

• Minimum payment amounts compared to total balances owed

• Monthly payment schedules and due dates across multiple accounts

• Opportunities to reduce interest costs through refinancing or consolidation options: For example, Heritage offers members 0% Intro APR¹ on credit card balance transfers for the first six months. If you have several high-interest credit card payments, this would allow you to focus on paying down that debt for six months with no interest. Learn more HERE. Home Equity Loans² also allow you to consolidate debt by allowing you to borrow against the accumulated value, or the equity, of your home to pay off high-interest debts. This process replaces multiple payments into a single lower-interest payment. Learn more about Home Equity Loans HERE.
   

Understanding how interest impacts repayment helps members make informed decisions about which balances to prioritize. Examples might include:

• Paying additional funds toward higher-interest credit card balances first

• Exploring Personal Loan options that may combine multiple payments into one simplified payment

• Using available funds from reduced expenses or increased income to accelerate payoff timelines
   

Tips for success:

• Continue making at least minimum payments on all accounts while prioritizing one balance at a time

• Set up automatic loan payments through Heritage to help avoid missed or late payments

• Monitor progress monthly to stay motivated and adjust repayment strategies if needed
   

Monitor Credit Activity

It seems like credit card fraud is everywhere these days. The good news is there are some simple things you can do to make you less vulnerable. Here are a few tips on how to avoid becoming the victim of credit card fraud.

• Periodically review your credit reports. There are three main credit bureaus. Order your credit report from each of them at least once a year. Request copies of your credit report from TransUnion, Experian and Equifax. You can also obtain a free copy of your credit report.

• Properly discard documents. Cut up, shred or otherwise destroy credit card statements, bank statements, pre-approved credit offers or any other documents that contain your personal information. Destroy credit card receipts too.

• Limit identification pieces. Carry only essential identification pieces in your purse, wallet, backpack or car. Do not carry your Social Security card or your birth certificate with you unless absolutely necessary.

Build a Buffer For the Unexpected  

An emergency savings fund is a crucial part of your personal finances. So how big does your financial life preserver need to be? The first step, no matter what your life circumstances, is to save up one month’s worth of take-home pay or the amount after taxes are deducted. Once you have this amount in your emergency savings account, you can focus on growing it to your personal savings target while also tackling other goals.

• Utilize the 3-6-9 rule: Based on your life, have a take home pay expectation for yourself.  For singles, renters and individuals with no dependents, 3 months of take home pay is a good starting point for an emergency fund. If you have a spouse, kids, mortgage, 6 months of take-home pay is recommended. If you and/or your significant other are self-employed or work freelance full time, you belong in a 9 month rule. When your income is unpredictable, the bigger impact an unexpected bill can have on your life. A larger emergency fund not only helps protect your family from feeling the pinch of slow business or an unexpected bill, but it also helps protect your career. 

Protecting what you have is a pillar in building long term financial success. If you have any further questions please feel free to reach out to a Heritage Representative HERE or Call (812) 253-6928. 

Read Week 1 Blog Post Here! 

Read Week 2 Blog Post Here! 

Next up: Week 4 —Growth & Moving Forward with Confidence, where we will learn how to increase success in building interest and overall financial success. 

¹APR = Annual Percentage Rate. Information accurate as of 01/01/2026. New consumer VISA® Credit Card accounts can have an introductory rate as low as 1.75% APR on new purchases and 0% APR on balance transfers (excludes Heritage FCU funds and must be balance transfers outside of the credit union) for the first 6 billing cycles. For balance transfers, there is no balance transfer fee. Balance transfers after the promotional period may be subject to a fee up to 4.00% of the amount transferred with a minimum of $10. On each foreign transaction, there is a fee of 1.00% of the transaction amount. After the first 6 billing cycles, the rate will convert to a variable APR between 10.25% and 18.00%. The Annual Percentage Rate is variable and may vary with the market based on the Prime Rate. Qualification is based on an assessment of individual creditworthiness and our underwriting standards. All credit union loan programs, rates, terms, and conditions are subject to change at any time without notice. Call us at (812) 253-6928 or toll free at (800) 858-1693 for current cost information.

²Subject to credit approval. Property insurance required. Programs, terms, and conditions may change without notice. Membership restrictions apply. Exclusive to first mortgage refinances. Subject to credit review and approval. Offer available on first lien refinances only; loan to value not to exceed 80%. Property insurance is required. Programs, rate, terms and conditions are subject to change without notice. Some restrictions apply.

The views and opinions expressed in this blog are those of the writers, and do not necessarily reflect the views or positions of Heritage Federal Credit Union.

Insured by NCUA. Membership restrictions apply. Subject to credit approval.