The new year is a time for resolutions. Many people resolve to get in shape, spend more time with family, or save more money. If you're looking to save money in 2023, we have some tips that can help! Follow these simple steps and you'll be on your way to saving more money without making any big changes to your lifestyle.
Make a Budget
One way to save money is to make a budget and stick to it. This means knowing how much money you have coming in and what your regular expenses are. Once you have an understanding of your finances, you can start making adjustments to spending in order to free up more money to save.
Cut Back Unnecessary Expenses
There are plenty of ways to cut back on unnecessary expenses. This could mean things like eating out less often, buying fewer clothes, or reducing your entertainment budget. When you take a close look at your spending, you may be surprised at how much money you're wasting on things that aren't really necessary.
Utilize Coupons and Discounts
A third way to save money is to start utilizing coupons and discounts. Whether it's clipping coupons from the newspaper or looking for deals online, taking advantage of sales and discounts can help you save a significant amount of money over time.
Eliminate Debt
A fourth way to save money is to get rid of debt. If you have high interest debt, such as credit card debt, it can be costing you a lot of money in the long run. By paying off your debt, you can free up more money each month to put towards savings.
Budget Some Savings
Finally, another way to save money is to simply start setting aside some money each month into savings. Even if it's just a small amount, over time it will add up and you'll have a nice nest egg built up that you can tap into when needed.
Start Saving Today
Start the new year by resolving to save money in 2023 with 1st Community Credit Union in Sparta, West Salem and Tomah. To save even more, let us help with a service that’s right for you. And if it’s time for a home loan or auto loan that makes sense, we can help you with that too - just contact us! Let 1st CCU be your partner in building a solid financial future.
For years, banking was the same. Deposit checks at your nearest financial institution’s branch. Withdraw cash from an ATM. Receive bills in the mail and send them a check for the amount you owe. But the Internet has changed all that. Managing your finances has become so much easier, now that you can do it online or on a mobile device.
- Online Bill Paying - Rather than receiving a bill in the mail, sending a check back, and hoping it gets there on time, an online bill paying portal through your credit union lets you pay each of your bills instantly, at the touch of a button. Enter in the amount you owe, and hit, “Pay,” and the money is automatically sent from your account to the institution you owe. For certain bills that are the same every month, you can even set it to deduct the money automatically.
- Money Transfers - Maybe you have two accounts, and need to move money from one to the other. Maybe you have a client who needs to pay you, or a vendor you need to pay. Maybe you just want to send money to a friend. With regular banking, you had to write a check and wait for it to clear. Now, you can do an online transfer, either directly through your financial institution, or through a secure third-party service connected to your account, such as PayPal or Venmo.
- Deposits - Most employers now offer direct deposit, where your money is sent to your account automatically each pay period. But even when you do get a paper check, you don’t have to go to the credit union and wait in line to deposit it. Just take a photo of the front and the back through your mobile banking app, and the money goes in your account automatically.
- Freedom and Flexibility - Most credit unions today offer both an online option as well as physical branches you can visit. This provides the freedom of managing your accounts any time, from anywhere, with the option to choose whether or not you want face-to-face assistance at a branch location. Want to add a secondary savings account to put money aside for something special? Open a secondary account online from home on the financial institution’s website. Sunday is the only day you have time to apply for a loan? Apply online from the comfort of your home.
- Going Paperless - How much mail do you get from your bank? Monthly statements, notices of important goings on, special offers, etc. All that paper just clutters your home, or gets thrown away. With online banking, you can choose to receive all of these communications through email, or through an online portal on the bank’s website, rather than receiving paper mail. Not only does this make everything a lot easier to organize and keep track of, you can lower your carbon footprint significantly by reducing the amount of paper produced, printed, and sent to you. The energy used to access your email is much less than it is to send mail by post—an important consideration as we continue the fight against climate change.
These are just a few of the benefits that online banking and mobile banking can provide you. It’s easier, it’s more convenient, it saves you money, and it’s better for both you and the environment. What more could you ask for? Find out more about 1st CCU's Online and Mobile Banking, we think you'll love it. Or contact the team at 1st Community Credit Union today to learn more about how online banking can benefit you.