Covenant Services

Developing a budget is an important step when working toward financial stability. When individuals track expenses and follow a plan, budgeting helps them stay on top of things like paying bills on time. It can also help create an emergency fund and offer simpler methods to set money aside for major expenses like a car, home, or college tuition. With inflation, however, budgeting may seem like a daunting concept. In March, consumer prices rose by 8.5% , spiking inflation to levels only seen during the 1980s. Follow the tips below from Covenant Services to learn how to budget through inflation. Budgeting Tips for Basic Necessities As prices continue to soar, consumers need to be more strategic about the ways they're spending their money. Learning budgeting techniques , especially during higher inflation periods, offer a way to improve spending habits and potentially leads to finding money to put away toward savings. Plan a budget around everyday items impacted by inflation, including

  The future's looking bright! Through the benefits offered at Covenant Services, employees are invited to enhance their financial wellness through the FinFit program. FinFit and its financial wellness program offerings are available for all CSV employees. Take advantage of FinFit's wide range of educational resources, tools, and services, helping empower employees through their financial journey with: A personal financial wellness assessment with a recommended learning path A complete financial education platform Budgeting tools and financial planning dashboard One-on-one financial coaching Financial calculators Access to loans via Celtic Bank, Member FDIC Short-term emergency loans Student loan assistance Tools to build a solid and more secure financial future! Access Your Benefits and Earn Rewards FinFit's goals work in concert with your own. Use its resources and available tools to create a solid financial outlook. Employees can access FinFit financial wellness service

It's Finance-February!  Now is always the best time to prepare for your financial future, and what better way to do that than exploring retirement plans? Below, Covenant Services explores the great debate:  Roth IRA vs. 401(k). Benefits of a 401(k) Beginning your journey toward retirement savings should start by becoming informed. Understanding the benefits offered from a Roth IRA and a 401k is a great first step.  A traditional 401K has the benefit of tax-deductible contributions. This means the money you earned and investing in a 401k won't be taxed. A 401k is a great option for higher-wage earners looking to pay taxes later when they have lower incomes.  For many, especially those new to investing, a company's retirement plan can be a valuable tool to build a stable financial future. To help guide you toward which is the right option for you, here are five benefits to a 401(k) plan.  1. Tax Advantages: Contributions made to a traditional 401(k) plan are taken directly fr

Tax season is here! The HR Service Partners team works tirelessly to prevent headaches and save employees money and time during this period. Before filing their taxes, employees should make sure to know the following information and items ahead of time. What Do I Need To Know Before I File My Taxes? For many, filing taxes may seem daunting. But with proper planning and organization, the task of filing your taxes can be less stressful. While there's not a one-size-fits-all model to follow for tax filing, experts agree that strategizing and knowing who to contact for assistance is a smart first step in the process. Taking advantage of the resources in your community is an avenue to explore for individuals new to tax filing or who meet the income threshold for assistance. The IRS's Volunteer Income Tax Assistance (VITA) program has volunteers that can help file your taxes and give tax advice. You can call and ask the volunteers questions and file online free with the IRS. What I