Rethinking how you spend can have its advantages and might even save you from going into debt during the upcoming season! Our Harlingen credit union wants to share a few ways you can be more strategic with your finances and keep your income from running dry.
Valley Federal Credit Union (VFCU) is a bank that has been helping people with their finances for over 85 years. VFCU has built its success on abiding by honesty, trust, and stability in order to aid individuals during troubled times and can help provide the best advice to improve your income. VFCU offers services like:
- Loyalty Loans
- Personal Loans as a way to pay for school costs, family emergencies, holidays, vacations.
- Consolidation Loans to pay off other creditors or other debts, with consolidation loans and fixed rates you can pay off your other debts in no time.
Create a Plan to Reduce Debts
Now more than ever loan providers are very willing to re-negotiate terms for your loans.
Unlike other Harlingen banks, we offer fixes rates on all our loans, but if you did not borrow from our Harlingen Credit union, the next best steps to take are:
- Re-negotiating terms with your loan provider.
- Apply for a consolidation loan with our Harlingen credit union.
- Writing out a plan to start tackling payments for debt each month.
Complete an Energy Audit
Consider finding ways to cut the costs of your energy bill can help you save extra income. Ways to reduce energy at home include:
- Using energy-efficient lightbulbs.
- Carpooling to share fuel costs.
- Keeping your tires properly inflated.
- Unplugging electronics when not in use.
- Sealing air leaks on windows and doors.
- Setting your thermostat lower in winter and higher in summer
- Have your HVAC system cleaned during the spring and fall seasons
Eliminate Unnecessary Subscriptions and Fees
Monthly subscriptions and streaming services are just a few ways that could be harming your finances. Streaming services can add up to $55 – $200 a month and total to over $600 a year without you knowing. Consider looking at subscriptions that you are paying for and cutting off those you aren’t using as much.
Shop Smarter at the Grocery Store
When it comes to providing food essentials, it’s important to acknowledge what you are eating and paying for. Instead, find out which foods are on sale, and budget wisely for groceries. Some money saving tips on grocery shopping include:
- Swap out brand-name items.
- Incorporate more meatless meals into your weekly menu.
- Add more low-cost staple items to your meals, like pasta or rice.
- Buying in bulk would allow you to purchase items at a lower price.
- Use grocery store weekly sales to plan your budget-friendly meals.
Increase Your Income If Possible
While receiving a weekly or monthly paycheck is good, finding other ways to increase your income can help with your finances. Some possibilities of increasing your income may include:
- Selling possessions, you don’t need.
- Negotiating a raise at your workplace.
- Taking on a part-time job or second job.
- Starting a side hustle or small business.
Need More Advice on Your Finances from Our Harlingen Credit Union
If you have any concerns about how to stabilize your income, a loan may be your next step. Apply online, and send us a message if you have any questions regarding the application.