January 16 - What’s the best cure for a debt hangover? Nope, it’s not orange juice. Expand/Collapse

Are you thinking there is a lot more month left after your payday than there is money?budgeting

You’re not alone and you can turn this around; all you need is a plan – like a budget!

A budget:
  • Gives you control over your money
  • Is a way of being intentional about the way you spend and save your money
  • Keeps you focused on your money goals
  • Helps you avoid spending unnecessarily on items and services that do not contribute to attaining your financial goals
  • Can also keep you out of debt or help you work your way out of debt if you follow it.
Here are six step to get you on your way:
  1. Assess your financial resources – how much money do you have coming in each month?
  2. Determine your expenses - how do you spend your money? Separate your fixed expenses that you must meet (mortgage, rent, car payments, insurance) from variable expenses (food, clothing, entertainment, charitable gifts). Once you see your spending patterns, you may be able to make adjustments to certain expenses.
  3. Set goals – what do you want to achieve with your money? Establish a list of the goals, either long-term like purchasing property or short-term like home improvements or car maintenance.
  4. Create a plan - Once you've figured out how much money is coming in and where it's going, you can put together a plan that matches your goals with your financial situation.
  5. Pay yourself first - When you pay yourself first you simply set aside a certain amount of money each month to go into an account that you will not touch. For those infrequent but anticipated expenses, such as property taxes, vacations, automobile insurance or car maintenance.
  6. Track your progress - At the end of each month, re-evaluate your budget. Compare your actual expenses and income to your budget. And remember, a budget is only a guideline.
Check out our Personal Financial Management in online banking. With it, you can create and manage your budgets based on your spending habits.

Budgeting doesn’t have to be complicated, here’s 8 more tips to help improve your budget plan.

Remember, a budget is only a guideline and is great for a debt hangover; orange juice is for breakfast!

January 9 - PFM – Your Resolution Secret Sidekick Expand/Collapse

NullThe hustle and bustle of Christmas is over, and those expenses are starting to arrive at your door. What a better time to check out our new exciting online banking Personal Financial Management tools.

What is Personal Financial Management (PFM)? It’s a set of financial management tools designed to help members better understand their finances and inform their overall financial decisions. 
So what does it mean for you? With PFM you can:

  • Track and categorize your spending
  • Set up a budget based on actual transactions, allowing you to set realistic limits based on your current needs and future goals
  • View your spending and budgets on our Mobile Web and Mobile App features

The best part? It’s absolutely free to members and is already completely integrated into the online banking that you all know and love!

You’re probably thinking “great idea” but where do I start? How about 5 easy steps to get control of your finances.

If budgeting and taking charge of your money was one of your New Year’s resolutions, or even if it wasn’t, our PFM tool can help get you started.

What a great way to start 2017!