Friday, February 14, 2014

Saving Money Like an Olympian

The Olympics inspire many athletes to pursue their sports dreams but here at St. Cloud Federal Credit Union it inspires us to be financially fit! In fact we believe the same principles to becoming a Gold Medalist are the same as being a financial fitness champ like our employee Phoebe!

Set a Goal
Setting a goal is the first step into any adventure, whether it is becoming an Olympian or saving money. Your goal doesn’t have to meet anyone’s expectation but your own. To be successful set a goal that you think you can achieve.

Create a Plan
You cannot simply say you want to save money just like you can’t simply walk into the Olympics and ask for a gold medal. You have to create a financial plan like you are training for the Olympics. This plan could be saving $5 a week or it could be saving $100 a week. It can be any amount you choose as long as it makes sense for your ultimate savings goal.

Train For the Gold
Once an Olympian makes their training plan, it’s time to put it into action! The same process can be applied to your savings plan. You have to train yourself to get into the habit of saving. One way to do this is to have a portion of your paycheck go into your savings account.

Your savings account will not grow rapidly overnight and that’s okay! Every little bit you put into your savings counts. Eventually you will make it to your savings goal just like an Olympian that gets the gold!

Keep Your Eye on The Prize
It is easy for us to slip back into old spending habits. Just like it is easy for an Olympian to have a sloppy practice. One way to stay focused is to write down where all your money goes and how much you want to save each month.

We are here to help you become financially fit champion like Phoebe! Feel free to stop by either of our locations or browse our website to learn more about our services.

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