UCCU Community Blog

Love Where you Bank, Trust Where you Bank

This content shows Simple View

Bills

How to Save Money One Dollar at a Time

Gallery  Comment

blogimage_MoneyInHand

Most of us give in to temptation from time to time. Whether its buying on impulse, choosing name brands rather than generic, taking a taxi instead of a bus, or splurging on an expensive meal, indulging is fun and even healthy in moderation.

But watch out. Not enough attention paid to the small purchases will result in big money lost. The path to savings (for things that you really do want) is paved with pennies. It starts with awareness. Each time you make a purchase, consider the cost. Here are a few ideas to get you started:

  • Brown bag your lunch. $7 per day totals $140 a month.
  • Substitute water for juice. A family of four can save over $500 a year by cutting just one glass of juice per person per day.
  • “Health” bars run about $2 apiece, and are often no more than glorified candy bars. Switch to a banana and whole-wheat bagel for half the price.
  • Use coupons at grocery stores and buy house brands instead of name brands whenever possible.
  • Prepare meals in advance and freeze them to avoid the temptation of ordering pizza at the end of a long workday. Cooking at home will make your food budget go much further.
  • Throw pocket change in a jar and cash it in when it’s full
  • Review your phone bill and drop unnecessary services like unlimited data.
  • Cut your cable television down to basic.
  • Hand wash instead of dry cleaning.

Chances are you can spot – then stop – these spending habits simply by paying closer attention to everyday expenses.

Share Button


What's Your Financial Wellness IQ?

 

 

 

 

 

 

It’s always important to gauge your financial wellness. Financial situations can change very quickly. Understanding how to make adjustments as needed is an important skill to learn. Take this quiz to see where you stand financially and help address any problems shown by the results. The first step toward a financially stable tomorrow is facing the situation today.

Ready to begin? Answer True or False to the following questions, and then tally your score. See scoring beneath the quiz to determine whether or not you are a good candidate for financial counseling.

  1. I normally pay only the minimum amount due on my credit card bills.
  2. My credit card balances increase each month.
  3. There are arguments in my home about money.
  4. I sometimes hide purchases from my spouse.
  5. I frequently charge items that I used to pay for with cash.
  6. I have thought about filing for bankruptcy.
  7. I have begun using cash advances to meet my obligations.
  8. My credit cards are near the limit, so I’ve begun applying for new lines of credit.
  9. I do not know the total amount that I owe.
  10. I skip paying my bills some months, or pay late.
  11. I have depleted my savings.
  12. I am consumed with worries about debt.
  13. My debt interferes with my job and/or home life.
  14. Collectors have begun contacting me.
  15. I have taken money from my retirement account to satisfy debt obligations.
  16. If I lost my job, it would mean an immediate financial crisis in my life.
  17. I use balance transfers.
  18. I have no emergency savings account.
  19. Next month’s bills arrive before I’ve paid this month’s.
  20. I do not open my bills when they arrive, or soon thereafter.
Most people answer “True” to two or three of the above questions. If True was answered more often than three times, you might consider financial counseling. BALANCE offers free and low cost assistance, whether the problem stems from needing more financial education, debt concerns, meeting your mortgage payment, or a host of other personal finance concerns. Discussing it with a certified counselor/3rd party will add insight to help you to resolve the situation.
Share Button



top