Achieving financial freedom starts with financial literacy. To help you get started, or continue your journey, here are some tools and tips to help you track your spending, save more money, and achieve your financial goals.  

Track your spending

The first place to start is to track your spending so you know where your money is going. There are a few ways to do this:

1. Log into Veridian online banking. You can see each debit, credit or check transaction you make from your Veridian accounts. You can use the “Financial Wellness” section to categorize your spending.
2. Sign up for a budgeting app. Many will let you link your Veridian accounts and categorize your spending to create a budget.

Create a spending plan

Once you’ve started tracking your spending, create a budget based on your income and current expenses. The apps mentioned above, and the “Financial Wellness” section in Veridian’s online banking has the tools you need. Find areas where you can reduce your spending to increase your savings.

Be sure to include any outstanding debt into your spending plan and create a plan to eliminate your loans.

Set financial goals

Write out your goals, a plan of action and a timeline to reach them. Set your long-term goals, then break them up with short-term goals. This process will help you stay on track.

Start emergency savings

The standard rule of thumb says that you should aim to have six months’ worth of savings on hand in case of an emergency. This can be one of your long-term goals. Include this in your spending plan and set up automatic deposits into a separate account.

Work toward your goals your way

Our Community Inclusion team is here to provide 1-on-1 assistance. We can help you create a personalized spending plan to help you work toward your financial goals.