Living on a limited budget can be tough work. Make sure you don’t overspend by creating a weekly or monthly budget for yourself. List all your necessary expenses, and allot any leftovers to savings and unnecessary expenses, like eating out, going to the movies, and shopping. Once you create your budget, be sure to stick to it! Not sure where to start? JHFCU members have free access to Accel, a financial education and counseling service. At Accel, financial counselors are available to help answer your financial questions, help you put together money plans, explain credit reports, and more. Visit www.jhfcu.org and click on the Links tab to find toll-free numbers and hours that counselors are available.
Considering a credit card?
Once you turn 18, credit card companies will start flooding your mailbox with tempting offers! Although using credit cards are a great way to build healthy credit, they are also easily abused. Be smart about your credit – read all the fine print about the card’s percentage rates for purchases, annual fees, and grace periods for payments, and don’t be fooled by low introductory rates that will jump back up after a certain period. Having too many cards can also hurt your credit. Select one you think is best for you and ask if the company reports to a major credit bureau. If they do and you pay your bills on time, you’ll be on your way to establishing good credit history.
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