Join us for the \;upcoming \;Nuts &\; Bolts as representatives from BB&\;T \;present on managing your checkbook\, budget\, and credit debt. See details below
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Credit and Borrowing:
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- Credit is the financial tool that allows you to borrow now and pay back over time. It has become almost a necessity in today's economy.
- When used responsibly\, credit is a valuable financial tool \;to make large purchases\, such as a home or a car\, to take care of emergency situations\, and to pay educational expenses
- When not managed carefully\, credit can grow out of control and result in personal and financial disaster.
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Checking Accounts:
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- For anyone with a steady income\, a checking account is a valuable tool because:
- Your company can deposit your salary into your account every payday.
- Your money stays in the account\; you do not have to carry large amounts of cash.
- You can get to your money when you need it&hellip\;from an ATM\, by writing a check or using a debit card&hellip\;or by going to your nearest bank \;to withdraw cash.
- You can keep track of what you have spent and how much you have left to use.
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Saving &\; Budgeting:
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- Creating a budget helps you manage your income and expenses and plan for the future.
- There are three steps to creating a budget.
\; \; - Step 1: Determine how much money you have coming in every month.
\; \; - Step 2: Add up your monthly expenses (ex. Monthly bills\, groceries\, childcare\, etc.).
\; \; - Step 3: Subtract your expenses from your income.