Start Managing Your Money Better in 2020 | Cleveland Bradley County Teachers Federal Credit Union

We all have our bad habits. However, when it comes to our bad habits affecting our finances in a negative way, it is time to take action!

Our team at Cleveland Bradley County Teachers Federal Credit Union wants to help you take a step ahead in your financial future by learning how to manage your finances in the best way possible. Read on as we offer three key suggestions:

Start With a Budget

If you have heard it once, you have heard it a million times. But at the risk of us sounding like a broken record, you need to have a budget.

Without some type of working budget, you have absolutely no idea where all your money is going. When you don’t know where your money is going, you are at a higher risk of both overspending and not saving enough for retirement.

Get a Grasp on Your Expenses

There are two key components to budgeting and managing your money effectively—you need to know how much money you’re bringing in and you need to know what your expenses are. When it comes to expenses, always be on the lookout for ways you can cut them out…or trim them down.

When it comes to making more room in your budget for savings and retirement, there are plenty of ways you can cut down on your monthly living expenses.

For instance, you can switch from cable and just stream on your smart TV to help save money. Or you can utilize a programmable thermostat to keep your energy bill from always being on the rise.

Put Your Debt Together

If you are living in debt, you are not alone. According to the U.S. Consumer Debt Crisis, the average American household with a credit card has at least $8,398 in debt. If you have enough debt on multiple credit cards, it can be difficult to keep track of it all.

Therefore, talk to us about your options for consolidating debt. It may be an option to use a personal loan to pay off your credit card debt, leaving you with a lower interest rate and a single monthly bill to keep track of.

Do you need help managing your finances? Our team at Cleveland Bradley County Teachers Federal Credit Union is here to help! Give us a call today to learn about our financial services.