Is your paycheck being spent too fast on various bills and other responsibilities? Saving for your retirement, family trips, or a future home can sometimes be pushed to the backburner when having to make payments on other important things. Fortunately, as a VFCU member, you’ll have access to our services that can help you save and invest wisely. Read on to learn about creating a successful savings plan!
Ask Yourself a Few Questions About Saving
To create a successful savings plan, you’ll have to first ask yourself a few questions. Consider the following:
- What are you saving money for?
- How much money will you need to meet your goal?
- Will you be saving monthly or per paycheck?
Once you’ve answered these questions, you’ll find that creating a solid financial plan for saving will be much easier.
Consider Your Banking Habits
Once you’ve established a savings goal, you’ll have to determine if your current finances will be able to meet your needs. You can speak with one of our financial advisors to help you find ways to save money in your budget. As a VFCU member, you can first start by applying for a STAR Checking Account in order to get a better idea of how much money you’re bringing in each month.
Budget for Your Savings Plan
Make a habit of saving money by treating your savings as an expense. That way, at the end of each month or pay period, you can put whatever is left into your savings. You can get a better idea of how much this total will be by:
- Writing down your monthly or bi-weekly expenses.
- Deciding how much money to put away to meet your goal.
- Changing your monthly budget to handle any unexpected expenses.
Open a Savings Account with Us Today!
Are you looking for a hassle-free way to save and invest your money? Open a savings account to keep track of your growth at our credit union in Brownsville today! Contact us for more information!