Money Saving Strategies

Published on July 17th, 2018

Warm weather means outdoor festivals, eating out and other activities. It seems like every outdoor activity costs money and you don’t want to miss out on all of the fun. The good news is, you don’t have to! If you follow a savings plan, you can save enough money to participate in everything you want to. As your credit union near Northlake, Leyden Credit Union has steps to help you save money.

Savings Account

This may seem obvious, but your savings account is there to do just that, save money. Every month when you get paid and before you pay your bills, you should transfer a specific amount to your savings account. Even $5 every week could make all of the difference for your future. Generally speaking, savings accounts also earn interest on the money in your account

Spending Plan

Track your spending for one month and see how much you spend on eating out, clothes, groceries and bills. This is one of the best ways to identify areas where you can save money. When spending is recorded, many people are surprised by how much they spend on certain areas of their life. After you see how much you spend, set a reasonable spending limit for each category and stick to it. You will be surprised by how much your savings account grows from this. At Leyden Credit Union, we offer all of our members a FREE, easy-to-use budgeting software called “BudgetSmart.” Click HERE for more information on BudgetSmart.

Think Before You Buy

Whether you’re going out to dinner or buying new clothes, it can be expensive. Make sure to take a second and consider if you really need that item before you buy it. Also, before buying a large ticket item, make sure to do your research and make sure that you are getting the best deal possible. In addition, the price on some large ticket items may be negotiable. Because of this, make sure to ask the salesperson if there is anything they can do with the price.

As your credit union near Northlake, we want to help you work towards your savings goal. Visit Leyden Credit Union to open a savings account today.

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