Pay yourself first! Decide on a specified percent of your take-home pay for savings and set those funds aside before paying any other expenses. Collect coins in a jar. Bank your refunds. Rather than spending an income tax refund, use it to pay down a high-interest credit card debt. Continue paying a loan. Once you...
Making a budget is the most important step in controlling your money. A budget allows you to track your Income (the money that you have) and your Expenses (the money you spend). By writing down your monthly income and expenses, you can see how much money you expect to have for the month and plan...
Life is full of decisions, some bigger or more impactful than others. This is fairly obvious. What’s not so obvious is that some seemingly small decisions you make as a young person – we’re talking about money decisions – can have life-changing consequences, both good and bad. To focus on the positive, here are three...
Financial stress can take the joy out of the holiday season, but there are some small steps you can take to limit spending during this time of year. Budgeting: Budgeting is one of the simplest ways to save money. Allow yourself a certain amount to spend on various holiday needs and be diligent in staying within your...
At any point in time, a person’s income probably won’t always be enough to cover all of the expenses when there is a time of need. As a result, plan sooner, rather than later, to implement a savings strategy to begin, or increase, personal savings levels as needed so an adequate amount of funds can...
Credit is an important financial tool. Good credit allows consumers to purchase many different kinds of goods and services including some of the most expensive such as college tuition, new vehicles or even a home, without having to immediately pay cash. Over time, consumers use of credit builds consumers’ credit reputations – summarized in a...
DuTrac Community Credit Union was recently made aware of fraudsters contacting members under the guise of warning you about possible card fraud. DuTrac Community Credit Union makes every effort to ensure that your financial information is safe and secure. DuTrac’s online systems are monitored and constantly updated with multiple security layers and procedures. However, the...
Keep all receipts and create notes to record payments without receipts. Keep an account book by expense categories. This way you will be able to see what areas you tend to overspend. Use envelopes for each category of expenses with an allocated amount of money for a set-time, like a month. Pay bills by check...
Being frugal does not always mean being cheap. Remember to keep this essential attitude. There is a greater reason for not spending money. Shop based on sales. Stock up on items that you use regularly when the store is having a sale. Know your prices. Compare prices of items commonly purchased for your home. Keep...
