Are you putting enough money into retirement every month? Want to know if you’re on the right track with your spending plan? Lutheran Social Services Consumer Credit Counseling Service (CCCS) recently launched MyMoneyCheckUp™, a free online tool that uses information you input about your financial situation to help determine whether you are on the right path, should proceed with caution, or should seek help.
What It Is
MyMoneyCheckUp™ considers different areas of finances including housing, savings, retirement, borrowing, and budgeting. The tool does not replace personal financial counseling or professional advice, but it is a great place to start!
We encourage you to use MyMoneyCheckUp™ to double-check yourself and your spending habits. You’ll be able to see where your money is going each month and if you don’t already keep one, you’ll be surprised what keeping a budget reveals!
Another feature of our MyMoneyCheckUp™ tool is that it can be adjusted over time. If you change your spending and savings habits, you can enter new information into the program and receive new feedback results. You can even login again to see how you’re doing!
Using MyMoneyCheckUp™ is easy! You just need internet access and an email account. You will first answer questions about your income, household size, and various savings and checking accounts. Then you will input the balances on any debt that you hold; followed by your saving habits, housing status, and any retirement accounts. After gathering all of the information, MyMoneyCheckUp™ will use a stoplight graphic to give feedback in the various categories.
How It Works
If you’re on the right path and should continue what you’re doing, you’ll see a green light. A yellow light means proceed with caution and consider seeking assistance or adjusting your strategy. A red light indicates that you should stop and make a serious change. MyMoneyCheckUp™ will give small tips and hints on ways you can help yourself get back on track, and we can help!
Whether you see all green lights, all red lights, or a combination of feedback, we’re here to answer any questions and guide you toward a successful financial future. Our certified credit and housing counselors can meet with you to give even more personalized advice regarding your finances. We also assist in a crisis or make preventative plans to keep you ‘in the green’.