Mutual CU Receives Honor from MS Business Journal on Thursday, June 24, 2021
(Vicksburg, MS): We are thrilled to announce that we were recently selected by the Mississippi Business Journal as a finalist in the “2021 Best Places to Work in Mississippi” annual program. In a ceremony held on Thursday, June 24, 2021, in Jackson, MS members and staff of Mutual Credit Union were on hand to receive the plaque honoring this distinction. Michael Mathews, President of Mutual Credit Union had this to say to staff after receiving the award, “We are a great company because of you and what you do to make us a great company each and every day. Thank you for making Mutual “the” best place to work in Mississippi!”
Mutual Credit Union continues to be a multi-branch financial institution offering world-class products and services in the following counties: Warren, Hinds, Yazoo, Issaquena, Sharkey, Claiborne, and Copiah counties with an expanded presence now in Lowndes County, MS and Pickens County, Alabama. This year, 2021, we celebrate 90 years of serving our members and our communities. Although Mutual CU might look a little different now than it did in 1931, we remain your credit union focused on ‘people helping people.’ We continue to look to the future and to securing the economic prosperity of our members.
For more information about Mutual Credit Union, please follow this link to our webpage. For additional questions, please contact the marketing department at firstname.lastname@example.org or call (601) 636-7523 ext. 1226.
Re-acclimating to normal life as pandemic restrictions are lifted and businesses reopen across the country will mean more than just getting used to wearing real pants again and working without your cat on your lap. You’ll also need to consider your finances. How has your overall money management changed during the pandemic? Have you dipped into your savings? Have you been letting your retirement accounts slide? Or, maybe you’ve been waiting for the chance to hit your favorite retailers again, and you can’t wait to splurge after a 15-month financial fast.
As you prepare to leap back into normal life, proceed with caution. Be sure to consider your full financial picture as well as long-term and short-term goals.
Here are some forward-thinking money moves to make as you adjust to post-pandemic life.
Review and adjust your budget
Pandemic times required their own budget, as people cut down on costs like dining out and updating work wardrobes, but spent more on things like at-home entertainment. Others may have had to adjust their spending to fit a changed income level or to help them coast during a stint of unemployment. The pandemic may have also shifted something in some people’s mental list of needs and wants, as they found they can live with a lot less than they’d believed.
As you adjust to post-pandemic life, take some time out to review and tweak your monthly budget. Be sure to incorporate any changes in income, as well as a readjustment to pre-pandemic spending or changed priorities. You may need to review and adjust your budget, and maybe even your spending behaviors, every few months until you find a working balance.
Rebuild your savings
If you are one of the many Americans who were forced to dip into savings, or even to empty them completely, during the pandemic, create a plan to get your savings back on track. Tighten up your spending in one area until you’ve built up an emergency fund that can keep you going for 3-6 months without an income, or use a windfall, such as a work bonus or tax refund, to get the bulk of your emergency fund in place.
Once your emergency fund is up and running again, continue to practice basic saving habits, such as setting aside 20% of your monthly income for savings, or whichever approach you prefer. If the pandemic taught us anything, it’s that it’s always best to be prepared, because you never know what can happen.
Rethink your long-term and short-term financial goals
The pandemic has prompted many people to reevaluate their goals. Retiring before you hit 50 or spending a month in Europe next summer may not be as important to you as you’d originally believed; or it may be even more important now. Similarly, you may realize your family has outgrown its living space and that moving to a new home is your number one financial priority. Or maybe you’ve decided you can live without a second car.
Take some time to rethink your long-term and short-term financial goals and adjust your savings and budget accordingly.
As you move through this step, be sure to consider any long-term goals you may have put on hold during the pandemic. Have you stalled your contributions to your retirement accounts or toward your child’s college tuition fund? Have you been making only the minimum payments on your credit cards? If any of these apply to you, be sure to revert your savings and debt payments back to pre-pandemic levels as soon as you can.
Spend with caution
It’s perfectly fine to enjoy a shopping spree in celebration of a return to pre-pandemic norms, but it’s best to spend with caution.
First, prepare to encounter inflated prices wherever you go. Gas prices have jumped recently, and costs of many consumer goods have spiked as well. If you planned to purchase a big-ticket item like a new car or tickets for a cruise, consider waiting it out a bit until prices cool off.
Also, you may be eager to make up for lost time, but no amount of nights out on the town will bring back the months you spent at home. Similarly, overbuying for this fashion season won’t bring back the seasons you spent at home in a hoodie and sweatpants. To avoid irrational overspending, set up a budget before you hit the shops and only spend what you’ve planned.
The restaurants and movie theaters are open for business again, and mask mandates are dropping all over the country. As life returns to pre-pandemic norms, be sure to consider the state of your finances and to make responsible, forward-thinking money moves like those listed here.
Your Turn: What post-pandemic money moves will you be making now? Tell us about it in the comments.