New Horizons Credit Union Blog

  Everyone counts down the years, days, and minutes until they can retire. But before you retire, there are six important steps you need to take to retire worry free.  1. Define Your Retirement When you define your retirement, you think about what it is you want to accomplish. Do you want to travel the world, the states, or stay at home and relax? Do you want to make improvement to your home, or sell your home and purchase an RV? When you know exactly what it is you want to do when you retire, you will have an easier time transitioning from work to retirement life. 2. Take Stock of Your "Assets" This is an important step because you're taking a look at all the money you have. Look at how much you have in your savings accounts, retirement accounts, stocks and bonds, and any other savings accounts you may have. This will give you a better idea on how much money you can allocate to everything

  Saving can be a little intimidating when you don't know where to start. But remember, the biggest mistake you can make is not saving. Below are a few tips to help you get started with saving. 1. Track Your Expenses The first step to start saving is to track your expenses. Figure out where your money is going, how much you are earning and spending, and how much you have left over. If you use a credit card, you can get a chart with your expenses broken down where you can see what you're spending your money on. Once you figure out where all your money is going, categorize it so it's easier to see where you're spending most of your money. Use this to create a budget in step two.   2. Create a Budget Now that you have your categories, create a budget so you can minimize spending. Categories should include things like: rent / mortgage car payment / car maintenance bi