Financial Literacy Month – 5 Tips for Managing Your Money

(4 Minute Read) — April is Financial Literacy Month, making it the perfect time to take a fresh look at your financial habits. Whether you’re working toward paying down debt, building savings, or improving your credit score, understanding how to manage your money effectively is the first step toward financial confidence.

At Unitus Community Credit Union, we’re committed to helping our members achieve financial well-being with personalized tools, educational resources, and expert guidance.

Here are some key tips to take control of your finances this month and beyond.

1. Create a Budget That Works for You

A budget is the foundation of financial success. Start by tracking your income and expenses to see where your money is going. Consider using the Unitus Money Management Tool, available through our Digital Banking platform, to categorize spending and set financial goals.

Budgeting Tips:

• Use the 50/30/20 rule: 50% for needs, 30% for wants, 20% for savings and debt repayment.

• Plan for irregular expenses like annual insurance payments or holiday shopping.

• Set your budget in Digital Banking to ensure you’re meeting your goals.

2. Build Your Emergency and Rainy-Day Savings

Unexpected expenses can derail even the best financial plans. For Financial Literacy Month we want to emphasize having a dedicated savings fund helps you handle surprises without relying on credit cards or loans.

How to Get Started:

• Set a goal: Aim for three to six months’ worth of expenses in an emergency fund.

• Automate your savings: Use direct deposits or scheduled transfers to build your fund effortlessly.

• Start small: Even saving $5 or $10 per week adds up over time.

Earn while you save: With Unitus Rewards, you can build your emergency fund effortlessly. Earn cash back on everyday purchases, and that money automatically goes into your Rewards savings account, which earns 5.00% APY^*. Our goal is to help at least 10,000 members build an emergency fund of $400 over the next three years—join us in taking a step toward financial security!

Unitus offers high-yield savings accounts to help you grow your money faster while keeping it accessible when you need it.

3. Understand and Improve Your Credit Score

Your credit score impacts everything from loan approvals to interest rates. A higher score can save you thousands of dollars in interest over time.

Ways to Boost Your Score:

• Pay bills on time – Set up auto-pay or reminders to avoid late fees.

• Keep credit card balances low – Aim to use less than 30% of your available credit.

• Check your credit score – Use the My Credit Score tool inside Unitus Digital Banking to monitor your score and get insights on how to improve it.

• Unitus members can take advantage of free credit counseling services to help understand and improve their credit scores.

4. Manage Debt Wisely

This Financial Literacy Month tip is a good one! If you’re carrying high-interest debt, a repayment strategy can help you pay it down faster and more efficiently.

Debt Payoff Strategies:

• Snowball method: Pay off the smallest debt first for quick wins.

• Avalanche method: Focus on the debt with the highest interest rate to save money.

• Debt consolidation: Consider a low-rate personal loan from Unitus to combine multiple debts into one manageable payment.

5. Take Advantage of Free Financial Education & Counseling

At Unitus, we believe financial education should be accessible to everyone. That’s why we offer one-on-one financial coaching, interactive workshops, and educational tools to help you make informed decisions.

Ways to Learn More:

• Attend a free financial webinar – Check our events page for upcoming sessions.

• Meet with a financial coach – Get personalized guidance on budgeting, credit, or debt management.

• Explore our online learning center – Find articles, calculators, and tools to help you navigate your financial journey.

Take the Next Step Toward Financial Confidence

Financial Literacy Month is the perfect time to take action toward a healthier financial future. Whether you need help budgeting, saving, or improving your credit, Unitus Community Credit Union is here to support you.

Your financial well-being is our priority. Let’s make this Financial Literacy Month the start of something great!

^*APY = Annual Percentage Yield. Unitus Rewards is only available with Unitus Checking. Rate effective as of 4/1/25. Rate is variable and can change. Fees could reduce earnings. Restrictions may apply