Credit Union News

When you have a cavity, you see a dentist and get a filling. If you have a headache, you'll probably take a pain reliever. And, if you get a cut or a scrape, you'll usually put on a bandage. When it comes to health, we're all quick to apply easy fixes for immediate issues. However, when it comes to financial well-being, many people wait, procrastinate and choose not to take the necessary steps to mend their money problems.

When dealing with finances, there's nothing to be gained by shoving your problems under the rug. In fact, financial issues typically get worse when ignored because interest can accumulate, rates can increase and credit scores can be severely impacted. Telling yourself "It'll all work out," just won't work in these situations; it's important to actively make changes, whether taking a few simple steps or consulting with a financial services professional.

So, what money matters are affecting your financial health?

Are you worn thin? If you're having trouble making it from one payday to the next and you feel like your money slips between your fingers, you can get advice on how to build a better spending plan and how to allocate your funds. The Debt in Focus tool on NetBranch can help you build a budget and a financial plan. And, using eServices to review your account can help you keep track of where your money's going and how much you have in your account at any given time.

Is your spending feverish?

Once you've paid your bills, do you blow the rest of your paycheck on fun stuff like dinners out, movies, clothes or sporting events? Combat the urge to spend by planning monthly transfers from your checking account to your savings. If you transfer money the day you receive your paycheck, you'll be saving the easy way and won't even miss the extra money.

When you need it for a big purchase or a down payment, though, you'll have it safely tucked away in your savings account. Are you dizzy with debt? Are you having trouble paying off old debts, yet continuing to add new ones? Do you feel like you'll never dig out from under the suffocating weight of the financial avalanche you've created? You definitely need more than a quick fix; when you're in this kind of situation, you need to ask for help. RBFCU may be able to find ways you can save, like refinancing an auto at a lower interest rate or providing a balance transfer from a higher rate card to an RBFCU MasterCard®. When fewer dollars are going toward your interest payments, more of your money will go toward paying off the balance and getting you debt-free.