A new approach to learning about your financial options!

Amscot and the Community Financial Services Association are pleased to introduce an innovative new way of learning about the options you can utilize for managing your money. This interactive approach includes innovative learning tools, rewards for completing different lessons and helpful guidance to deliver to you the education that you want to make informed decisions.

It’s free and easy to use ... Get started today!

The importance of creating a personal financial budget

Keeping track of your spending habits is the first step toward getting control of your finances. A financial budget allows you to compare your expenses with your income. If your expenses exceed your income, a financial budget can help you pinpoint which expenses are higher than you would like, and where you can find ways to save. That is powerful information because it gives you a greater ability to make informed decisions. Creating a personal financial budget may be easier to accomplish than you might think. Click on this link for a FREE financial budget worksheet that will have you on your way to better budgeting.

Paying Down Debt

As a rule, you should pay down debt with the highest interest rates first. For most people, credit cards carry the highest interest rates of all of their outstanding debt. Focus on paying down your highest interest credit cards first. If possible, make more than the minimum payments required, as this may improve your credit score.

Setting Goals for Saving

Once you have identified how you are spending your money, you can start to establish a goal for how much you would like to spend every month, and how much you would like to save. A savings account gives you tremendous financial flexibility and freedom. It gives you an emergency fund for any unexpected expenses or loss of income. It is a first step toward owning your own home, paying for college or perhaps, retirement. Decide how much you would like to save each month, whether it is $50.00 or 10% of your income. It may not seem like a lot at first but if you get into the habit of saving every month, it will start to add up!

Download a FREE Financial Budget Worksheet
Click here (requires free Adobe Acrobat Reader)