Life can sometimes be unpredictable. Whether you’re navigating job changes, rising costs, or just trying to make sense of what the future holds, having a solid plan for your finances can help you find clarity, confidence, and peace of mind in your finances. At DCCU, we’re here to help our members build financial stability regardless of the circumstances. The following tips can help you feel more in control of your money.

1. Start with a budget that works for you.
   Budgeting doesn’t need to be complicated to be effective. In fact, it can be one of the most empowering things you can do for your financial health. Learning to budget effectively isn’t about restricting yourself, but rather ensuring your financial health remains strong. If you haven’t already, consider finding a budgeting method that makes the most sense for your lifestyle. Regardless of the system, be sure to choose a budget that includes actionable and achievable steps to improve your overall financial health.
   
   
2. Limit nonessential spending when possible.
   Spending habits can add up quickly – like monthly subscriptions, takeout, or impulse purchases. Cutting back doesn’t have to mean eliminating all the fun, though. It just means being more mindful of the ways you spend your money. Review your bank account and credit card statements regularly to quickly identify any areas of spending that can be adjusted.
   
   
3. Reevaluate your savings goals.
   During times of economic uncertainty, it can be normal for your financial goals to shift. No matter what your savings goals are, your priorities should reflect your current financial reality. Plan to revisit your short and long-term financial goals on a regular basis to ensure that they still align with your current financial picture and plan. If you haven’t yet, consider working toward building an emergency fund that covers at least 3-6 months of living expenses.
   
   
4. Stay ahead of debt.
   If you carry debt, you aren’t alone. The key to effectively managing debt is to create a repayment plan that you can stick to each month. If paying down your debt is a top financial priority, it may be helpful to focus on paying down high-interest debt first – like credit cards. Debt consolidation and refinancing options may also be available to you if your rates are high, or you’d benefit from fewer monthly payments. Your focus should be on building consistent financial habits that help you manage your debt in a way that also fits your life.

DCCU is here to help you reach your goals, no matter where you are in your financial journey. Managing your finances during uncertain times doesn’t have to feel overwhelming. With a few strategic moves and the right support, you can manage your finances with confidence.

Need help getting started? Contact a DCCU representative or stop by one of our convenient locations today. 

This article is for general information only and not intended to provide specific advice or recommendations for any individual.