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Five Steps to Organizing Your Finances
Do you know your net worth? Or how much you spend each month, and on what? Or how much you can expect from your pension plan or Social Security in retirement? A no to most of these questions puts you with the majority of the population who have been too busy with life to get a handle on their finances. Fortunately, there's a five-step action plan to help you take control of your money. 1. Set up a financial filing system. Create a personalized filing system by labeling accordion file pockets with broad financial categories. Then label regular file folders with subcategories that fit your situation and file them into the accordion pockets. For example, create a Property & Casualty Insurance accordion file and fill it with a Vehicle Insurance regular file folder. 2. Gather records. Look through your records to identify missing information. For example, you need an...
Six Rules for Managing Credit Card Debt
If you want to be the master of your credit card debt load, follow these key rules: 1. Take inventory. How many credit cards do you have? What's the balance and minimum monthly payment on each? What's the total balance? If it's more than you thought or can afford, it's time to pare down. 2. Check out the cost of your credit cards. What's the interest rate on each card? What's the annual fee? Does your card offer a grace period? If the card doesn't have a grace period, or if you carry over a balance, or take a cash advance, you're usually charged interest right away. 3. Get one low-fee or lower-interest card and use it wisely. Make Priority First Federal Credit Union your first stop when starting your search. Check to see if you can transfer existing debt from your various credit cards to your new...
Getting Advice on Money Matters
When we have a toothache, we see a dentist. If we're plagued with personal problems, we might see a counselor. But when we need advice about finances, many of us don't know where to look. The common tendency is to do nothing. "It will all work out somehow," we tell ourselves. But there are places to turn to when you need financial advice. Here are some situations when it might be smart to seek help, and where you can find it:

You're feeling stretched. Do you stumble from one payday to the next, wondering where your money disappears to in between? Do you just barely pay your bills? You don't have to live so close to the edge. The people at Priority First can give you pointers on how to set up a budget. You'll be able to see where your money goes and how...