If you don’t have a financial plan for the rest of 2021 and going into 2022, then you’re missing out! Expenses can come up for school, holidays, and emergencies. Instead of scrounging up the cash to pay for them, you can make some smart decisions now to be more financially secure.
Here’s your homework: follow these four tips from our Harlingen credit Union.
Budget for the School Year
A financial plan can be long- and short-term. For example, setting up a monthly budget and a week-to-week budget can help you avoid overspending.
Our credit union suggests:
- Comparing prices and quality of products wherever you shop.
- Eating out less and budgeting your grocery spending weekly.
- Cutting down on unnecessary expenses such as movie tickets, shopping for items you don’t really need, and pricey coffee.
- Working our financial consultants who are available to VFCU members.
Prioritize your Debt
A big part of managing your finances is taking control of your debt. You can be proactive by:
- Paying your monthly bills on time to build your credit score.
- Paying more than the minimum requirement due for bills each month.
- Putting excess cash towards your monthly bills.
Sometimes borrowing money is necessary. We want to share a few ways you can do this without hurting your budget:
- Apply for loans with a low APR (annual percentage rate).
- Consider consolidating your loans with our credit union in Harlingen.
- Shop for loans that only include fixed interest rates, like our personal loans.
Use Our Money Tools!
Managing your finances is easier with our Online Banking Tools.
VFCU members can use the following:
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