OnPoint Community Credit Union Urges Financial Spring Cleaning Amid Ongoing Cost Pressures - 05/19/26
New data shows rising debt and limited emergency savings underscore the need for a financial reset
PORTLAND, Ore. – Spring cleaning isn’t just for the home. Financial experts say it’s also an ideal time to take stock of household finances, especially as rising expenses continue to strain budgets.
“Sustained high costs are making it harder for people to build savings or plan ahead,” said Meredith Bureau, Hillsdale branch manager at OnPoint Community Credit Union. “Spring is a good reminder to pause, take stock and get organized to build a stronger financial foundation.”
Recent data from the Oregon State Treasury underscores just how widespread these financial challenges have become. The 2026 Oregon Financial Wellness Scorecard found nearly three of every four Oregonians are feeling cost pressures, 53% are struggling to pay bills and nearly half are unable to cover a $500 emergency expense.
In response to these growing challenges, Bureau recommends a few practical ways to “spring clean” your finances:
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Inventory your finances. Start by listing all bank and retirement accounts, investments, credit cards, loans and medical bills, including balances, due dates and interest rates. Review the last 30–60 days of transactions to identify recurring expenses, such as utilities, subscriptions and credit card payments, and flag any that could be canceled, adjusted or renegotiated. Then, create a simple digital or physical filing system for statements and financial documents so everything is easy to access going forward.
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Clear out costly debt. Credit card debt and other high-interest balances can build up quickly, especially with average credit card interest rates at 21%.
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Reviewing rates and exploring options such as consolidation, balance transfers or a home equity line of credit (HELOC) may help reduce overall costs and simplify repayment.
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Tidy up your payment schedule. Many people are unaware that they can ask their financial institution or service providers to change their payment due dates. Aligning bills with your paydays and setting up automatic payments can create more consistency each month and reduce the risk of fees.
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Trim convenience spending. Food delivery, takeout and daily coffee purchases can add up quickly without much notice. Americans spend an average of more than $3,600 on dining out, according to the U.S. Bureau of Labor Statistics. Preparing meals at home more often or limiting discretionary spending can free up money for savings or debt repayment.
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Sweep away extra costs from your monthly bills. Cell phone plans, internet service, insurance and medical bills are often more flexible than they seem. Contact providers to ask about lower-cost plans, discounts, billing reviews or available rebates. Small adjustments can free up extra cash.
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Declutter with purpose. Research published in the International Journal of Environmental Research and Public Health shows clutter can interfere with financial well-being and contributes to indecision and procrastination, making it harder to stay focused on financial goals and follow through. This spring, take time to clean out closets, garages and storage spaces before making a new purchase. You may free up mental space and uncover items to sell, creating extra cash and reducing unnecessary spending.
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Ask for help. Spring is also a good time to check in with a financial expert. Your financial institution can be a valuable resource for getting started and staying on track. OnPoint, for example, offers access to financial experts in person at its 59 branch locations, making it easier to get one-on-one guidance.
“Small changes can have a meaningful impact,” Bureau said. “The goal isn’t perfection. It’s creating a system that helps you feel more confident and prepared, even when costs remain high.”
OnPoint offers personalized financial guidance, tools and resources to help members manage debt, build savings and plan for the future. Learn more at www.onpointcu.com.
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About OnPoint Community Credit Union
OnPoint Community Credit Union is the largest credit union headquartered in Oregon, serving more than 648,000 members throughout Oregon and southwest Washington. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and who lives, works, worships, or attends school in one of four Washington counties (Clark, Cowlitz, Lewis, and Skamania), and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at onpointcu.com.
Federally insured by NCUA. Equal Housing Opportunity.