New Year’s has come and gone but some of us are still trying to keep up with our resolutions. The recent scare of the Credit Unions and The Economy has made us take a second look at our finances and how we can we can improve our financial situation. It may not be one of your resolutions but it should be practiced year round. There are several ways you can improve your finances; be it by saving more money or just managing it better.
These are the top 10 ways that can help improve your finances:
- Get Organized: Keeping track of your finances can bombard you with paperwork but try keeping only the extremely important information. Shred or throw away any files or unimportant paperwork. Keep important paperwork such as insurance papers in a separate fire proof box.
- Live Modestly: Instead of buying that extravagant item you want opt for a more modest one. Living below your means is a great way to save money.
- Find a Better Bank: Not all banks are created equal; some are too expensive because of all the fees they charge. Try researching banks or credit unions and compare.
- Stop Eating Out: We all know how expensive it can get eating out every day can get. Try making a small, weekly grocery list and prepare meals beforehand to take to the office or work.
- Be More Energy Efficient: Practicing energy saving methods can decrease your utility bills. Consider buying energy saving light bulbs or simply powering off unused appliances like computers.
- Utilize Your Banks or Credit Unions Freebies: Some banks or credit unions may offer free services that come with being a member or customer. Take advantage of them.
- Take Advantage of All Tax Deductions and Credits: If you have business expenses or have had to move because of a new job, there are tax deductions you can take advantage of.
- Pay Off Debts: Paying off high interest rates on credit cards if you have the money available, do it. It will save you money in the long run.
- Improve Your Credit: Whether you are trying to rebuild your credit, or are new to having credit, practicing being diligent on payment periods is important. Continuous on-time payments can help boost your credit rating.
- Crunch the numbers: Keep track of your expenses and money saving and it will help you reach any financial goals faster.
For more information on improving your finances with a credit union, contact the financial professionals of Valley Federal Credit Union at their Brownsville location by calling (956)546-3108.