This season is all about having a blast, from road trips and beach bonanzas to backyard shenanigans and lazy poolside lounging. Still, staying budget-friendly is an absolute must! With some planning and foresight, you can make the most of this vibrant season without breaking the bank by using these tips from our credit union in Brownsville.
We’ll dish out secrets like savvy travel planning, out-of-the-box entertainment ideas, sniffing out sweet seasonal discounts, and even mastering the art of meal prepping.
Whether you’re itching for that dream vacation or want to enjoy the season without breaking the piggy bank, these tips from our credit union will put you in control of your moolah and set you up for financial success.
Distinguish Short-term and Long-Term Goals
Now that you’ve created a goal for yourself, it’s time for the next step, planning. Divide your budgeting into short-term and long-term goals. Having a combination of both is a good idea, too, if you need money in a short amount of time! Short terms goals can include:
- Money for mini vacations
- Saving for road trip expenses
- Saving for back-to-school finances
Long-term goals are different and can range from opening a retirement account, saving to pay off a debt, or saving for a down payment on a vehicle. Having an idea of how you want to save your money can be more manageable with those goals in mind.
Track Your Spending
To create a successful budget, you need to understand how much money is coming in from paycheck to paycheck or through any source of income. One way of keeping track of your expenses is by downloading our VFCU Mobile Money App, so you can:
- Have easy online banking access.
- Quickly upload your checks.
- Review unnecessary costs such as subscriptions or online spending.
Separate Fixed Expenses
To create saving a regular habit for your summer budget, take account of all your necessary expenses and then account for your savings. This can include:
● Bills
● Groceries
● Insurance costs
● Loan payments
Saving money means finding alternative options to help your dollar stretch more. Then after that, dedicate other money towards monthly costs.
● Take out
● Shopping
● Entertainment
Plan a Monthly Budget
Now that you’ve got a game plan, it’s time to implement your budgeting plan! To save money each month, one method to try is the 50/30/20 method, which is broken down by:
● 50% of your income for your needs, such as bills and essential expenses
● 30% of your income for other expenses and your weekly spending.
● 20% of your income goes to your savings or paying off your debts.
Financing Your Summer
Unexpected purchases come up during this season, especially as you are traveling. Make sure you are prepared and ask our staff about opening a credit card for emergencies or applying for a personal loan online wherever you are this summer. Check out rates for both online.
Enjoy Mobile Banking Benefits
Spending while on the go can add up if you are not careful. Become a member, and download the Mobile Banking App, so you can shop safely as you travel. You will also enjoy these banking Brownsville banking perks.
● Zelle
● Apple Pay
● UChoose Rewards
● Bill Pay and Mobile Check Deposits
Use these Tips from our Credit Union in Brownsville!
Remember, financial freedom and fun in the sun are not mutually exclusive. By implementing these tried-and-true tips, you’ll be equipped to make the most of your summer adventures while staying within your means. Contact us today and apply to become a VFCU member today.
