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Earn up to 196% more with a FirstLight Federal Credit Union savings deposit
Save up to $401 with a FirstLight Federal Credit Union credit card
Earn up to 76% more with a FirstLight Federal Credit Union IRA
Save up to $1,562 with a FirstLight Federal Credit Union RV loan
Earn up to 199% more with a FirstLight Federal Credit Union money market1 Share Certificate
Earn up to 11% more with a FirstLight Federal Credit Union checking account
Texas, Save up to $17,754 with a FirstLight Federal Credit Union 30 Yr Fixed
New Mexico, Save up to $28,544 with a FirstLight Federal Credit Union 30 Yr Fixed
Las Cruces, Save up to $28,321 with a FirstLight Federal Credit Union 30 Yr Fixed
Stick to Your Plan
It is easier to avoid spending money earmarked for savings if it is not in your checking account. Your financial institution may allow you to set up a periodic automatic transfer of funds from your checking account to your savings account. You may want to save for all of your goals in one savings account or set up different accounts for different goals.
To stick to your spending plan, it is helpful to put it on your refrigerator door or other visible spot in the house, and make an effort to track your spending on a regular basis. By doing this, you will know when you have reached your spending limit for the month in a particular category.
Take Action: Switch to Your Post-Purchase Plan Now
For example, if your current rent and utilities cost $1,000, and your mortgage and other new housing expenses will total $1,500, you can pay $1,000 and put the extra $500 in savings. This gives you an opportunity to practice paying your mortgage as well as build up your savings more quickly.
Sometimes, despite their best efforts, people have a hard time sticking to their spending plan. Original estimates could have been inaccurate or unrealistic or expenses could have changed. If you find yourself in this situation, don’t get discouraged. Just go back to your spending plan and rethink what you can spend in each category.
If you ever get stuck, BALANCE is here to help FirstLight Federal Credit Union members at no charge. Call BALANCE at 800-777-7526. A counselor can review your spending plan with you and provide suggestions on possible changes you can make as well as discuss how you can approach creditors and service providers if you just do not have enough money to make payments.