Master Your Money in 2020 - Valex Federal Credit Union

YOU CAN DO IT

If getting control of your finances is on your list of New Year's resolutions for 2020, you are not alone. Typically, money-related intentions top the list of resolutions. Unfortunately, those good intentions usually fall to the wayside. According to U.S. News and World Report, approximately eighty percent of resolutions are deserted by February. However, don't let this discourage you.

You can beat those odds.

Here are some tips and tricks to help:

  • First, you will need a spending and saving plan. (Don't call it a budget. Budgets conjure up images of denying yourself life's pleasures.)
  • Next, collect your data. The only way you can figure out where your money is going is to track your spending. Simply by becoming aware of what you are spending, you can help gain control of your finances. So, go ahead and buy the latte... but understand that spending on everyday luxuries means sacrificing bigger things.
  • To maximize your savings, pay your savings account first. If you can, do it with automatic transfers from your checking account. It is true that if you do not see it, you will not miss it.

For more tips on how to keep your 2020 resolutions, contact us at 800.828.2539 to set up an appointment with one of our Certified Financial Counselors.

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