Credit Union News

New Year's Resolution

One of the top New Year's resolutions every year, along with eating healthier and exercising, is to get one's finances in good condition. As the calendar flips to January of a new year, people automatically turn their thoughts to ways to be more frugal, save more money and make their new year better than the previous one.

You can find many solutions to your money problems by checking out RBFCU's products and services. For each of these common concerns, we have a product or service tailor-made to help you get your personal finances back on track.

Holiday Overspending. If your credit card balance seems insurmountable after the holiday purchasing sprees are over, you're not alone. According to a recent BankRate survey, almost two-thirds of Americans don't make any sort of holiday budget. If you fall into that category, or if you're trying to pay off debt in the New Year, consider a balance transfer to an RBFCU MasterCard. Balance transfers can help you pay debt off more quickly by combining the debt from several cards into one convenient monthly payment. And, with a balance transfer to an RBFCU card, chances are your rate will be lower and you'll be able to put more money toward your debt than toward costly interest payments.

Counting every penny. Sometimes when you're trying to fortify your finances, literally every last dollar can be allocated to something. Whether it's paying the water bill or putting groceries on the table, it's important to spend money first on priorities (bills, rent, etc.), then put funds toward savings or paying off debt. Take a good look at your finances and the fees you're paying. While some charges may seem insignificant – $2 for an ATM transaction or $6 for a checking account – they can certainly add up. If you find that you have more money than you expected going toward account charges, you may want to consider RBFCU's still-free, cash back checking as a financial option.

Carrying a car loan. If you gave yourself (or one of your kids) a shiny new car as a Christmas present, you may not be enjoying the added expense that comes along with a new auto loan. Don't spend the new year paying exorbitant amounts of interest. Instead, consider one of RBFCU's low-rate auto loans. You can use the loan to finance or refinance a purchase and can begin saving money immediately. Try one of our auto loan calculators to see how much money you could save with an RBFCU loan.

Whatever you're planning in the New Year, make RBFCU a part of your resolutions and financial journey. Visit one of our local branches or contact our member service team for additional options to save time, save money or earn money in 2011.