Financial Education

Why a budget makes good sense for you.

A budget can help you spend wisely by providing a roadmap of how to manage your income and expenses. It ensures that you spend in a controlled way, according to your own finances. It will help you to control and eliminate debt and enables you to save for the future. A budget can make it easier to track expenses and see how well you are doing in relation to your financial goals. As you get better at budgeting, you can adjust your spending.

If this is difficult for you, ask one of our Customer Service Representatives for information about non-profit credit counselling services in your community.

How can you get started?

Write down and total any type of income you will receive during the month.
Write down all your bills and costs in a month.
Separate your needs from your wants.
Build a budget or spending plan based on your needs.
Always set aside some money for emergencies.
As your spending habits improve, reward yourself by adding in some wants and savings to your plan.

Spending Control Tips

Pay back loans with the highest interest levels first.
Save the change in your pocket or purse daily.
Carry small amounts of cash – it reduces temptation spending.
Buy only what you need.
Bring your lunch to work.
Rent a movie instead of going to a theatre.
Cancel or reduce your cell phone or cable plan.
Take the bus instead of your car.