The best gift that you could ever give to yourself is to take the time to learn how to manage your money. Smart money management can help you in a number of ways. Your goal might be to save up to buy your first home or pay off student loans. Being a credit union member can help you to take control over your money. Credit union online banking, savings, and investment plans, such as a certificate of deposit, can help you to grow your money and use it wisely.
A credit union can provide you with the tools that you need to achieve your goals. Christmas Club savings accounts can prevent over-spending with high-interest credit cards. A home equity line of credit can help you to make the improvements you need to boost your property value. An account representative at St Anne Credit Union in New Bedford can help you learn more about your options and suggest solutions that will help you to stay focused and on track.
Review Your Spending
The first place to start is by looking at your spending habits. It is impossible to create a useful budget if you don’t know where your money is going each month. Review your checking and savings accounts using the St Anne Credit Union online banking website. Print out your records so you can easily highlight or color-code spending habits that you want to change. If you are trying to save up for a specific purchase or want to invest in a certificate of deposit, you will need to know how much you have available after all your bills are paid.
After reviewing your credit union online banking, you can start to make changes. If you notice that you are going out to eat three to four times a week, you can cut that in half. If you realize that you are spending over $30 a week on fancy coffees, you could learn how to make it at home. It doesn’t take a lot each week to put money aside for an important expense or investment. However, it does take determination and willpower to avoid falling back into old spending habits. Now it’s time to sit down and create a budget.
Create a Budget
Once you have reviewed your spending habits, you should have the information you need to create a solid budget. List everything that you need to pay each month, including rent or mortgage, utilities, gas, food, and insurance. Other expenses, such as entertainment via cable or satellite, subscriptions, and going to concerts or events with friends, should be budgeted as well. This can help you to keep control over your spending each month. After you identify the monthly expenses for essential bills and household costs, you can determine how much is left over to save or invest.
Get Financial Advice
Visit St Anne Credit Union in New Bedford and speak with an account representative to learn more about your options. Some of the information is available via credit union online banking, but it can be helpful to speak face-to-face. If you require auto loans, home loans, or a home equity line of credit, we can help get you started. If you want to refinance existing loans, your representative can answer any questions that you might have about the application process.
Your credit union can also help you with savings and investments. Make sure to ask about various savings programs, including the basic Share Savings account, Christmas Club account, and money market savings. Investments can include a credit union certificate of deposit or IRA Share accounts for government-sponsored retirement savings. Whatever your goals, you can make them a reality through the money management and financial tools available through St Anne Credit Union in New Bedford.
Use Technology to Your Advantage
Credit union members have so many tools at their disposal that weren’t available just a few years ago. With the advancements made to credit union online banking, it is possible to monitor your account activity in a whole new way. You can set-up and view automatic transactions, move money from your NOW Checking to Share Savings, and keep track of all spending. You can even view the activity on your certificate of deposit or make payments on home loans and home equity line of credit accounts. Ask a representative about what you need to do to gain access to your credit union online banking account.
To join St Anne Credit Union in New Bedford, you only need to work or live in Bristol or Plymouth counties in Southeastern Massachusetts. You don’t need to work in a specific industry, for a certain employer, or belong to any organization. Give us a call at 508-993-0011 to learn more about becoming a member of our credit union or stop by our branch location on Union Street in New Bedford, Massachusetts.