If you’re feeling anxious about managing your personal finances these days, don’t worry– you’re not alone. At The Federal Savings Bank, we believe in educating consumers about their financial options, through free consultations with our loan officers as well as through our free online Learning Center. Consider the ways you could be better managing your personal budget in order to achieve your financial goals.
Budgeting: Get a Full Picture of Your Debt and Expenses
When trying to better manage your income, it’s advisable to sit down and identify how much of it you spend each month on your expenses. This can include monthly payments for rent, credit card debt, and an estimate of your monthly spending on things such as entertainment or gas. Take a look at each item. What could you live without? What would you rather be spending that money on? These are the first steps to better money management.
When you inquire about a loan at The Federal Savings Bank, you’ll sit down with one of our loan officers and work out a plan for using your credit to help you achieve your personal financial management goals. That might mean purchasing a home for yourself or your family or giving yourself more cash each month by consolidating your high-interest debt into a TFSB personal loan. If you are unsure about your options, it’s often best just to ask a professional.
Stick to Your Plan
Remember that any big financial change rarely happens overnight. No matter what your financial situation is now, the best way to change it is to be intentional in your spending and saving practices. Be patient while you’re building up your savings and remember that even the best of plans get derailed. As the blog NerdWallet puts it, “You didn’t get in the financial position you’re in overnight, and you won’t get out of it overnight, either. Give yourself time to learn and grow. With hard work and dedication, you can manage your money with confidence.”
Your TFSB loan officer will be able to help you assess your financial options, including how much of a loan you might qualify for. They will also be there to coach you through every step of the process if you need, whether you are a veteran purchasing a home for the first time or you are consolidating high-interest credit card debt.
Contact us today to take control of your personal finances and use the full potential of your credit to optimize your money management!
Subject to credit approval. Terms and conditions may apply.
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to you individual situation.
