It's Time to Get Your Financial Health on Track! | Cleveland Bradley County Teachers Federal Credit Union

Our team at Cleveland Bradley County Teachers Federal Credit Union hopes you and your family had a wonderful holiday season! But now that January is here, it’s time to start focusing on your finances again.

A New Financial Plan for a New Year

Did you do a little overspending this holiday season? You aren’t alone. But a new year brings new opportunities to make successful choices for your financial health.

First, establish (or add on to) your emergency account. Don’t have an emergency fund? Start with a goal of saving $1,000. Put away any “extra” money in your savings—including holiday cash or that unexpected bonus at work. You’ll find that even the smallest amounts add up over time!

Next, revisit your budget. Go back and look at your budget for 2017. Was it working for you and your family? Was there anything you can change to make better? A budget isn’t a “set-it-and-forget-it” thing. It’s a living, breathing plan for how to allocate your income—and it should change as your needs and wants do.

Finally, look at your spending habits to help improve the most on your financial health this year. Your mindset matters when it comes to spending. If you find yourself often purchasing things “just because” but wondering where your money went at the end of the month, you may need to reset your habits. Determine the difference between needs and wants for you and your family, then work to limit the wants that you are purchasing. You don’t have to always skip the fun stuff, but doing so more often than not can reap dividends for your financial health!

Do you want to plan ahead for holiday spending in 2018? Visit Cleveland Bradley County Teachers Federal Credit Union today to learn about how our Christmas Club Account, which can help you better financially prepare for the holiday season!