There are many symptoms related to financial anxiety. Some of them seem obvious, while others may be surprising. Here are just a few: overspending, fear of spending, hoarding, and depression. With a little help, you can take control of your money so it doesn’t take control of you. Here are some tips to get you started: ✅ Schedule a money check-in ✅ Stick to a household budget ✅ Manage your debt ✅ Create an emergency fund ✅ Discard financial shame ✅ Practice mindfulness Learn more about the symptoms of financial anxiety and additional resources to help you cope. 👉 Link in bio. #MoneyManagement #FinancialStress
Our goal is to help our members reach peak financial fitness. Get into shape using these helpful tips: 1. Gather your financial records: Collect a month’s worth of statements, account ledgers, bills, and pay stubs and categorize your income and expenses. Note those items that are fixed costs (such as rent, mortgage payments, daycare expenses, and car loans) as well as those that vary from month to month (like morning coffee runs or grocery bills). 2. Create a budget: Make sure your essentials are covered. That’s food, shelter, utilities, and transportation. Don’t forget to create a category for fun and entertainment! 3. Save for emergencies: They happen and they can be expensive. That’s why it’s so important to make savings a key component of your budget. Start by opening a savings account and deposit a little from each paycheck. Your savings will add up quickly. 4. If you can afford to, buy a home rather than renting. You’ll be investing in your own future. And with today’s low interest rates, your mortgage payment could cost the same or less than rent. Find more helpful tips at 1stunitedcu.org/moneywise. #FinancialEducation #savings #budgeting
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Research shows that today’s children aren’t getting the financial education they need from school so the responsibility tends to lie with parents. Here are some tips to help prepare your kids for financial independence👇 ✅ How much does it cost? Start off with a piggy bank to save their money. Help them understand the value of money by showing them what they can do with it. ✅ Needs versus wants. It is challenging to explain to children the priority of needs versus wants. For example, if they decide to buy candy now, they can’t have the video game they have been saving up to buy. ✅ Open a savings account. The next step is to establish a savings account. Getting kids comfortable with bank accounts is an important step in learning money management and budgeting skills. ✅ Earnings and allowance. Whether kids earn money doing chores around the house or are given the responsibility of an allowance, having regular income promotes financial literacy and an understanding of cash flow. ✅ Personal budgeting. Use their allowance or earnings from an after-school job to teach them how to set up a budget and allocate money for clothes, entertainment, and transportation while balancing wants versus needs. ✅ Credit and debt. Walk them through a credit card bill, explaining charges and interest fees. When your kids are old enough to drive, help them with a car loan and have them be responsible for the monthly payments. 💲 Help the child in your life with tips on teaching budgeting skills. 👉 Link in bio. #FinancialEducation #BudgetingSkills