Ways to Build Your Savings! | Cleveland Bradley County Teachers Federal Credit Union

Cleveland Bradley County Teachers Federal Credit Union wants you to have as much money in your pocket as possible this summer—and beyond. Here are some ways to help you build a strong foundation for saving money for months and years to come!

Establish a Process for Saving Money

To start saving, you don’t automatically have to make a drastic change and stop spending. While every penny does count when it comes to saving where you can, there are ways to start small when saving, and—then—build up as you grow more comfortable.

Start by having a budget. Without a budget, you are riding “blind” when it comes to where your finances are on a daily, weekly, monthly and yearly basis. In order to be successful with your budget, you must account for every single dollar you make and every single dollar you spend. Therefore, make certain your budget includes your needs and your wants. If your budget is accounting for more than you make, then it’s time to cut the “wants” list.

Then, set up everything on an automatic payment schedule. That way you don’t have to worry about paying your monthly bills late and racking up extra charges on late payment fees. Plus, you can also put a portion of your paycheck automatically into your savings account that you set up at Cleveland Bradley County Teachers Federal Credit Union. If you don’t see it, then you won’t be tempted to spend it—which means it has a greater chance of survival in your savings account.

Finally, pay off your debt. Whether it’s a balance on a credit card, an outstanding student loan, etc., it’s time to start paying yourself and not someone else. Paying off your debt as soon as possible can allow you to put more money in your savings account toward a rainy day, a vacation, your child’s college education and much more!

Visit Cleveland Bradley County Teachers Federal Credit Union’s website to learn about our savings account options for when you need an account to help keep your savings safe.