Are You Living Your Best Financial Life? | Cleveland Bradley County Teachers Federal Credit Union

Do you find yourself often worrying about money? Are you constantly wondering where you’re going to find enough to cover an unexpected expense?

That’s not the way to live! And that’s why our team at Cleveland Bradley County Teachers Federal Credit Union wants to offer some insight on how to live your best financial life.

Establish Good Money Habits

The key to feeling more financially stable lies in your habits. Creating strong financial saving and spending habits can make all the difference.

First, you want to make sure you are tracking every dollar you spend. If you’re not already keeping track of your spending, you might not realize where you are overspending.

A budget is a tool you can use to help keep track of your spending habits. The goal is to make sure you are always staying within (or below) your monthly income.

You also want to make sure you are putting some money aside each month for savings, since you never know when an emergency might arise.

Wouldn’t it be wonderful if the next time the washer broke that you were able to buy a new one without worrying about where the funds would come from or going into debt?

Second, you want to get into the habit of paying your bills on time. While it is true that as long as you get your bill paid by the due date you are in good standing, there’s nothing that says you can’t pay them early!

Paying the bill as soon as it hits your mailbox makes it less likely you’ll forget to pay and incur late fees.

Finally, every time you receive a bonus or pay increase, increase the amount of money you put into your savings or 401(k). One day, you are going to want to retire. And when it comes to your 401(k), time is money.

Don’t you want your retirement fund to last as long as your retirement? Start making saving for retirement a habit today!

Building positive money habits can leave you with more money in your savings. Reach out to a team member at Cleveland Bradley County Teachers Federal Credit Union today to talk about savings accounts.