Budgeting 101 - Yolo Federal Credit Union Skip to main content
×
cover-art

Yolo FCU Mobile

Finance

Free - On the App Store

View
×
cover-art

Yolo FCU Mobile

Finance

Free - On the App Store

View

Budgeting 101

You might be saying, “Why do I need to budget?”

The truth is, saving every penny really does add up, and having a budget will help you keep track of how much you’ve saved! Your budget will also tell you when you need to slow down on your spending or tell you how close you are to saving for your goal. All of those small purchases, like your daily coffee, going out to eat, or going to the movies, can add up quickly. Establishing a helpful budgeting method can do wonders for accomplishing your savings goal.

One of the best ways to start budgeting is the “piggy bank method.”

You have 3 piggy banks: a “HAVE-TO,” a “WANT TO,” and a “RAINY DAY” piggy bank. Your “HAVE-TO’s” are for essentials like food, water, and clothes. Your “WANT TO’s” are for fun things like going out with friends or attending an event such as a concert or movie. Your “rainy day” piggy bank is for the things in life that we don’t necessarily see coming, but you’ll be glad you saved for it.

Every time you get money, try and break down how much you’re going to put into each piggy bank. Start by putting 50% away into the “HAVE TO” piggy bank because it is for your most important purchases. Then put 25% into each of your “WANT TO” and “RAINY DAY” piggy banks to make sure that the rest of the money is evenly distributed for purchases you’ll want to make in the future or if something unexpected happens.

The “piggy bank method” is just one of the many ways to budget, but you don’t actually need three piggy banks to use this method. Opening a savings account with Yolo Federal makes it easy to keep track of your budgeting, and there is no limit to how many accounts you can open. Schedule an appointment or apply online to open an account today.

Budgeting is easy to get started and a great way to build a habit that will set you up for financial success!

Please enter a form shortcode or message for this pop-up.

Leaving Our Site

You are leaving the Yolo Federal Credit Union website. Yolo Federal Credit Union provides links to external sites for the convenience of its members. By clicking “Continue” you will be directed to an external website owned and operated by a third party. These external websites are not controlled by Yolo Federal Credit Union and Yolo Federal Credit Union makes no representation or warranty, express or implied, to the user concerning the information, content, presentation, accuracy or opinion of these sites or the quality, safety, or suitability of any software found on these sites. The privacy policies of Yolo Federal Credit Union do not apply to external sites and users should consult the privacy policies on these sites for further information. Thank you for visiting the Yolo Federal Credit Union website.

To qualify for membership, you must live, work, worship, attend school in Yolo, Sacramento, Placer, or El Dorado counties.

To apply for a Home Loan, you must qualify for membership, and the property must be located in Yolo, Sacramento, Placer, or El Dorado counties or within 50 miles of our corporate office. 

Leaving Our Site

You are contacting a Yolo Federal Credit Union Representative. By clicking “Continue,” you understand that any transmission to or from this site is not confidential. You agree that Yolo Federal Credit Union will not be responsible to anyone for any damages arising out of or in connection with any e-mail or other electronic transmission sent to Yolo Federal Credit Union. All information you submit to Yolo Federal Credit Union via the site will be considered to be the property of Yolo Federal Credit Union, and Yolo Federal Credit Union is free to utilize any information you submit for any purpose, subject to Yolo Federal Credit Union’s Privacy Policy.

Fraud—Protect Yourself

We proactively work to protect members against fraud. All of our Debit and Credit Cards come with ID Navigator through NortonLifeLock™ to help protect you against identity theft. If you suspect fraud or have questions, please call, schedule an appointment, or click on Let's chat! to speak with a Yolo FCU representative.

Learn More