Why It’s Important Your child will be faced with many financial decisions throughout his life, and as a parent, it’s up to you to ensure he’s prepared to face them intelligently. For example, in high school, he’ll be tempted to take out student loans. In college, he’ll be bombarded with credit card offers. By instilling strong financial habits early on, your child will be prepared to conquer common challenges as he gets closer to adulthood. Although many schools attempt to teach basic financial literacy to students, the responsibility falls to the parents to apply those… Read Article →

Saving for retirement might be the most important thing you ever do with your money. And the earlier you begin, the less money it will take!   Don’t know where to start? You’ve come to the right place You probably have a lot of questions about saving for retirement. How much will I need? What year will I retire? What are the best ways to save for retirement? The good news is that you don’t need to figure everything out right now. The most important thing to do is to get started. Here are some… Read Article →

Saving money is so important for many reasons. Some of the reasons why saving money is so important have to do with security and safety, while other important reasons for saving money have more to do just with the practical aspect of trying to plan ahead for major expenses. In terms of emergencies, it is so important to be saving money. While no one likes to think about the possibility that they will lose their job, become disabled, or have some other sort of disastrous financial crisis, the fact of the matter is that it… Read Article →

In major parishes today, nearly half the households are living in a state of persistent financial insecurity with almost no savings to cover emergencies or plan for the future. At The Trelawny Co-operative Credit Union, we believe that given the opportunity, every one of these families can save, build assets and create a more prosperous future for themselves and their children. To reach that goal, low-income families require support to improve their financial capability by helping them increase their financial knowledge, skills, and access to fair and affordable financial products. Financial capability, unlike financial education,… Read Article →

Beginners Budgeting Tips The idea is to have more money coming in than going out. Although this is a daily struggle, there are small changes you can make to look after the pennies, so that the pounds look after themselves.   Why do you need to budget? You should always watch your money, even when you feel you’re earning enough to splurge however there may be an initial reason why you need to budget; you may have a big event coming up such as a wedding or a holiday, alternatively, you may have just lost… Read Article →

A warning sign that you may be living above your means is: You are not saving at least 5 Percent of your income. Everyone should save 10-15 percent of their total income. But if you can’t save at least 5 percent — even while paying off debt — this could be a sign that you’re living beyond your means. Everyone should have savings, and you should aim to have six to nine months of living expenses set aside at all times. If you feel you can’t save any money, you are spending on items and… Read Article →

If you want 2017 to better financially than 2016 you really need to have a plan. It doesn’t have to be complicated, sometimes a simple plan works the best. A plan based on foundational aspects of money management can actually be easy to follow and requires only 6 steps. Will these six steps really provide a difference financially? Mastering these six money concepts will provide a strong foundation for being smarter about finances and making good choices. When this happens, financial prosperity is much more likely because financial ruin often comes from making poor choices… Read Article →

        Sometimes the hardest thing about saving money is just getting started. It can be difficult to figure out simple ways to save money and how to use your savings to pursue your financial goals. This step-by-step guide to money-saving habits can help you develop a realistic savings plan. Record your expenses The first step to saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, newspaper and snack you buy. Ideally, you can account for every penny. Once you have your data,… Read Article →

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