Making ends meet. A shoestring budget. Scraping by. Scrimping. No matter what you call it, a recent study finds that seven out of ten Americans are now living paycheck-to-paycheck. If you’ve never had to adopt this lifestyle, consider yourself lucky. At Maple Federal Credit Union, we understand the immense burden that a paycheck-to-paycheck budget can place on you and those you love. The last thing you need is someone wagging their finger at you chastising you for not managing your money better. That’s why we’ve compiled a list of ways you can save money on a month-to-month basis, as well as some solutions unique to credit unions.
Seems obvious, right? You may think so, but a common financial pitfall is that many people don’t really know where their money is going. They swipe and they spend, not keeping track of how those dollars are adding up. Once you start taking stock of where your money is going each month, you will quickly see the things you can cut out to save some money. Do you really NEED a pint of gourmet ice cream each week?
It is time to embrace the joy of NOT spending money. For many, getting something new or treating themselves to a Starbucks adds a little sparkle to their day. However, not every day needs that sparkle. Once a month, designate a “No-Spend Day.” This means you aren’t going to spend money on anything. No Starbucks, no afternoon snack. While a No-Spend Day will take some planning, you’ll be pleasantly surprised by the extra money you have leftover. Just don’t spend that money the next day.
This could be one of the simplest ways to remove temptation. Use an incognito browser to thwart tracking data from serving you targeted ads. After all, how many times have you seen an ad for something and thought, “Why don’t I already own that?”
As a credit union, we’re a small group of dedicated individuals. That’s why we offer money management resources to our members. Whether you need help developing a budget or determining if a refinance is right for you, we can help. Contact us today to make an appointment.
Sources: https://www.studyfinds.org/living-paycheck-to-paycheck/
Maple FCU's mission is to help our members achieve their financial goals.
| Main Branch Lobby Hours | ||
|---|---|---|
| Mon, Wed, Thu | 8:30am - 5:00pm | |
| Tuesday | 9:00am - 5:00pm | |
| Friday | 8:30am - 5:30pm | |
| Saturday, Sunday | Closed | |
| Morton Weeks Lobby Hours | ||
|---|---|---|
| Monday, Wednesday | 8:30am - 5:00pm | |
| Tuesday | 9:00am - 5:00pm | |
| Thursday, Friday | 8:30am - 5:00pm | |
| Saturday, Sunday | Closed | |
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