With so many people spending time at home during the COVID-19 pandemic, online usage is as high as it’s ever been! And because of so many being more conscious of their safety and health, online shopping has seen a massive boom. With this comes two caveats: overspending and debt accumulation.
Our credit union in Brownsville offers various services that can keep your money safe while growing your account for future financial goals. Consider these four money management tips!
Spend Wisely
At VFCU, we offer free checking to members so they can focus on budgeting. According to the Federal Financial Literacy and Education Committee, some of the best ways to budget is by:
- Tracking your spending habits over the span of a few weeks to know where to cut corners.
- Comparing prices and quality of the products and services you use throughout the month.
- Making room for financial goals like a weekend trip or purchasing a car.
Save and Invest Your Money
We believe in working smarter, not harder. As a member, you’ll have access to various services that help you save and grow interest:
- Money Market accounts to earn interest as you save with easy access for withdrawals.
- Individual Retirement Accounts (IRAs) to save money for your long-term goals, such as retirement.
- Certificates of Deposit (CDs) to save and collect interest once your money matures within a term between six and 60 months.
Protect Your Finances
Did you know that we can also protect your prized possessions with safe deposit boxes? Keep heirlooms, important documents, and much more in any of the deposit box sizes we have.
Borrow Appropriately
During these trying times, borrowing may be your only option. When doing so, make sure to create a repayment plan since paying on time improves your credit score. Apply for any of our loans online, including signature loans for up to 50 months and as low as 8.85% APR.
Stay on Track of Your Finances
Be sure to download our Mobile Money App! It allows you to check your balances and upload checks with Mobile Check Deposit. Download the app now from the Apple Store and Google Play Store. Be sure to contact us for any questions about our services or becoming a member!
