The 2024 Savings Challenge with our Harlingen Credit Union

If you’re looking for a financial restart, try out these simple ways to save money without complicating your daily life. Our Harlingen credit union cares how far your dollar can go, so here are a few ways to conserve money and develop better financial habits in 2024. 

Automate Transfers

Setting up automatic transfers from your checking account to your savings can help you accumulate money over time. This can be helpful towards your emergency funds or other savings account that could save your money on the side whenever you have income pouring in. 

Prep for Grocery Shopping

It would be best to prep for your shopping list whenever you shop for necessities. Create a shopping list of things you need and look for potential store coupons to save money. 

• Compare prices per unit to find the best deals.
• Purchase non-perishable items in bulk to save on unit costs.
• Use coupons and loyalty programs for additional savings.
• Buy generic or store-brand products instead of name brands.
• Create a weekly meal plan before heading to the grocery store.
• Make a shopping list and stick to it to avoid impulse purchases.
• Buy fresh produce that is in-season for lower prices and better quality.
• Avoid shopping when hungry to prevent unplanned purchases.

Minimize Spending

The best way to save money is to minimize spending and cut out unnecessary items or expenses. Some examples of easing off on your spending are: 

• Eating out less
• Limit impulse buys
• Meal prep to save money
• Use public transportation
• Minimize treats and entertainment
• Cut down on coffee shop visits

Restrict Online Shopping

Shopping online is fun and simple, but it can hurt your finances if you’re not careful. Although most companies give great cyber deals, shipping, and extra fees can get tricky and make you pay more than necessary. 

Cancel Unnecessary Subscriptions

Using too many subscriptions can hurt your finances if you don’t track them well. Most fees can pile up and drain your finances after a while.

Set Savings Goals

Once you know how much money you want to save, set goals around the amount and keep track of it. You can do so by organizing your finances and seeing where you stand monthly to work around those savings goals. 

Pay Off High-Interest Debts

Debt can be an overwhelming thing in your journey to better savings. Although debt can seem a little scary, here are a few things you can go about it : 

• Consider a consolidation loan.
• Find additional income sources.
• Prioritize high-interest debts by focusing on paying them off first, instead of the smaller debts.
• Explore balance transfer options to move high-interest credit card balances to lower-interest cards. 
• Use windfalls or unexpected income to make lump-sum payments on high-interest debts.

Track Spending

By monitoring your spending habits, you gain control over your finances, helping you avoid unnecessary debt and ensuring that you stay within budget. Additionally, expense tracking enforces accountability, making you more mindful of your financial goals and encouraging disciplined spending. 

Download the VFCU Mobile Banking App

Get a FREE CREDIT SCORE REPORT with our Harlingen credit union, when you first download our mobile banking app! Gain insights into your financial health with the added perk of receiving your free credit score upon signing up. 

• With UChoose rewards, earn rewards tailored to your preferences. 
• Manage your finances seamlessly through Online Banking and Bill Pay.
• Embrace the future of payments with Apple Pay and effortlessly send money to loved ones with Zelle. 
• The Mobile Check Deposit feature ensures a hassle-free way to deposit checks from the comfort of your own home.

Get Financial Help with Our Harlingen Credit Union

Contact our Harlingen credit union for more information, and for financing options to help you get on the right track in 2024.