New Year, New Financial Resolutions

It’s 2024! Now is the time to stick to our New Year’s resolutions, whether it means eating healthier, exercising more or spending less. 

 At Sebasticook Valley FCU, we encourage our members to set financial resolutions for themselves, so they can make better decisions with their hard-earned money. We also offer guidance on setting realistic, achievable goals. 

 What kind of financial resolutions can you make? Here are a few ideas of ours: 

  1. Create a budget — and stick to it. Every month, track your income and your spending. Only if you know what comes in and what comes out can you figure out how to adjust accordingly. P.S. – have you checked out our app? It’s a great way to check balances on the go. 
  2. Prioritize your spending. When it comes to spending, the general rule of thumb is to focus primarily on needs, not wants. While it’s difficult to avoid new purchases, it is important to try and stay disciplined. When you see that shiny new object, give yourself at least 24 hours to reflect on whether it is truly needed. 
  3. Save more. It sounds obvious, but making incremental changes can go a long way. If you don’t have a savings account, open one. If you only contributed $100 per month to it in 2023, try to contribute $125 a month this year. Even small strides add up to big savings over time. 

Credit unions like Sebasticook Valley FCU are here to help. With only a $5 minimum balance, our members can open up a basic credit union savings account, giving them full access to the products and services that Sebasticook Valley FCU has to offer. We tell our members, when possible, to take advantage of the automatic monthly transfers from another account (i.e. a checking account) to a savings account. That way, you never forget to save, save and save some more. 

You never know when you may need to tap into your savings. You can’t predict when an emergency may arise. Be proactive and feed your savings as much as possible month-by-month. Plan today for tomorrow. 

For more information about Sebasticook Valley FCU’s savings deposit rates, you can visit our new website. Check out our offerings today and make 2024 your best financial year to date.