Adulting 101: Financial Well-Being

Whether you’re turning 18, graduating college or are just in need of a few financial tips, we’re here to make adulting as easy as possible! Setting up the foundation for financial well-being now will help make handling your money down the line infinitely better. Check out a few of our below financial tips to set yourself up for success.

Track Your Spending

Figuring out how much you have to spend each month, and staying within those limits, is a surefire way to succeed when it comes to adulting. First, create a financial overview that’s realistic to your monthly spending habits so you can define where you may be overspending. Cutting out your morning coffee run could make a huge difference every month! Once you identify where you’re spending and what’s a better plan for your long-term happiness, define a budget and stick to it. As your salary and spending habits change, make sure you’re updating your budget so you’re always reflecting your current financial outlook. Want some one-on-one advice to help you get started? Sign up for a free financial check-up with one of our knowledgeable neighborhood bankers today!

Save and Then Save Some More

We’re sure you’ve heard the value of saving, but building up your funds really makes a difference! Whether you’re investing in retirement with your company’s 401(k) plan, or putting money away for your emergency fund, it’s important to put cash aside every month. You’ll thank yourself later, we promise! Check out our TruStone Financial savings accounts to get started today.

Avoid a Credit Card Slip-Up

Having access to a credit card can seem exciting, but don’t forget to follow a few key steps. Do your research and find a card with no fees and low interest rates, like with one of our three TruStone Financial Visa® credit cards. Next, make sure you’re always staying on top of your credit card payments, even if you’re only paying the minimum amount. Missing a payment can plummet your credit score, which will take time to build back up. Finally, make sure you’re keeping your spending in check. Credit card debt can quickly become unmanageable, which will make it harder down the line to secure loans for a car, house and more.

Protect Yourself

We get it – insurance seems expensive when you’re just starting out. However, a few bucks here and there can really protect your hard-earned money in a time of need. Research is key when it comes to finding the best health, renters and disability insurance for your dollar. Be sure to check out the options with your employer first, they may even offer plans that come out of your paycheck pre-tax – score!

Adulting can seem daunting, but you’ve got this! Plus, your trusted neighborhood credit union is here to help you every step of the way. If you have questions on how to make the best financial decisions for your future, stop into a branch or give us a call at 800.862.1998!

Editor’s Note: Parts of this blog post were sourced from Bankrate and Investopedia.