Pay Yourself First. But how?

 
Ever felt like your paycheck disappears as soon as you get it? You’re not alone. What if you could change that?
 

Ever felt like your paycheck disappears as soon as you get it? You’re not alone. What if you could change that?

The Power of Paying Yourself First

Paying yourself first is a simple yet powerful financial strategy. It involves setting aside a portion of your income for savings or investments before paying any bills or expenses.

Why Does It Work?

  • Automatic Savings: By automating the process, you’re less likely to forget or skip saving.

  • Reduced Temptation: When the money is automatically transferred, it’s out of sight, out of mind.

  • Long-Term Financial Security: Consistent savings can help you achieve your financial goals, whether it’s a down payment on a house, retirement, or an emergency fund.

How to Get Started:

  • Review Your Budget: Take a close look at your income and expenses. Identify areas where you can cut back to free up more money for savings.

  • Set a Savings Goal: Determine how much you want to save each month and what you’re saving for.

  • Automate Your Savings: Set up automatic transfers from your checking account to your savings account. This could be a fixed amount or a percentage of your paycheck. You can use Unity Catholic’s Mobile App or Online Banking for this. 

  • Be Consistent: Make saving a regular habit. Don’t let life’s ups and downs derail your savings plan.

  • Educate Yourself: Learn Financial Literacy and how to manage your finances with Zogo. Take advantage of the tools and resources Unity Catholic FCU has for you!

Remember, every little bit counts. Even small, consistent savings can add up over time. So, start today and pay yourself first!

Unity Catholic FCU