There are four pillars to living financially healthy: Spend, Save, Borrow and Plan. This week we're focusing on Spend.
Your financial health is directly related to your money – specifically how much you make, how much you spend, and how well you pay your bills. Smart spending and money management are the keys to building savings and surviving financially when life throws you a curveball.
Live within your means
When you spend less than you make, it gives you the chance to save some for the future. The more you save, the more you'll have locked away for an emergency. That's important because most families get into financial trouble, because they use credit to pay for unexpected bills, like a car repair or health-related expense.
- Create your own budget with expert advice
- Learn how to find blind spots in your spending plan and budget
Pay every bill every month
The better you are at managing all of your bills, the better you'll be at dealing with your day-to-day financial life. To get those bills paid, did you know your membership offers you some great tools. That includes Online and Mobile Banking with automatic Bill Pay. The next time you log in to the system, look for the One Nevada Bill Pay service. There, you can set up automatic monthly bill payments.
Also, be sure to pay yourself every month. Treat your savings as a bill. If you can afford it, set aside 5-10% of each paycheck into a savings account. It won't take long before you have enough money in that account to cover most emergencies.
- Try our free debt and budget coaching
- Learn 9 ways to master your money
- Read about managing your finances throughout your life
One Nevada is always here to help
Financial Fitness | Learn
Balance, our free financial fitness program, is packed with how-to articles, videos, advice, tools, webinars and the chance to schedule some time with a personal financial counselor. Start your own account today.
Free Credit Score & Monitoring | Manage
Log in to One Nevada Online or Mobile Banking to access your credit score, review your credit report and double check for possible fraud and theft. All for free. You can even set up alerts to monitor your credit activity. Choose ‘credit score' from the main menu after you log in.
Money Management | Monitor
Get a complete look at your entire financial picture (including your accounts at other financial institutions) with and Keeptrack®, our online financial tracking tool. It's a great way to set financial goals, stay on budget and track all of your money. You'll find this free tool in our Online and Mobile Banking.
Check out the rest of our Financial Literacy Month articles: Master Your Money and Finances