Credit Union News

Baby Steps

Sometimes, when you're trying to trim back your budget or save for a big purchase, the ever-mounting expenses you face can seem unmanageable. However, almost anything can be accomplished by taking a series of small steps to reach your goal. Baby steps may not seem to make a whole lot of progress, but in the long run, they can pay off and help you finance your future.

Here are a handful of baby steps that might help you save some money. While each step may save only a few dollars, if you add them all together, you could end up accumulating quite a bit of money to use toward your future goals.

Go fee-free. Consider moving your money to a financial institution that won't charge you high fees to maintain an account with them. At RBFCU, you won't pay fees just to have access to your own money, instead, with our Really Free Checking accounts, things like free checks (when ordered online) and cash back on purchases are a given, and monthly balance requirements and service fees are never part of the equation.

Take a few days. Make impulse buys a thing of the past. Instead, consider how your purchases will affect your budget. If it's more than a set dollar amount, give yourself a few days to "cool off" and consider how necessary the purchase is to your daily life.

Go potluck. Instead of spending the evening with friends at a restaurant or movie theater, get together at each other's houses and enjoy a potluck meal. You'll save money while enjoying the same fellowship with friends.

Drop your rates. One of the best ways to save money is to score lower interest rates. If you refinance your vehicle through RBFCU, you could save hundreds, possibly thousands, of dollars. If you apply for a RBFCU MasterCard® or complete a balance transfer, you could save quite a bit of money without making any changes to the way you live. The only change would be that less money would go toward interest and more toward paying off debt.

Use healthy hydration. Drinking water is a money-saver that makes sense. Not only can you save money by cutting back on sugary drinks, you could positively impact your health.

Put on your chef's hat. Don't worry – you don't have to really spend money on a chef's hat, but preparing meals at home can help you save a lot of money each year. Brown-bagging lunches can add even more savings to your weekly menu, and can reduce your caloric intake as well, if you choose healthy foods.

Give yourself a visual. What are you saving money for? To get out of debt? To budget for a trip? To purchase a more reliable car? Post pictures of your budget goals in your home and mark your progress somewhere near them, so you'll stay motivated.

Each of these steps may take a little time and effort, but when it comes to saving money, one baby step in the budget can mean one giant step for peace of mind.

This information is general and you may wish to consult a financial advisor in regard to your circumstances. Federally insured by the NCUA.