ShelbyCountyCU.com

Unify Your Goals, Unify Your Family, Unify Your Life.

January 2016 * Issue 1, Vol 32

NCUAYour savings federal insured to at least $250,000 and backed

by the full faith and credit of the United States Government

National Credit Union Administration, a U.S. Government Agency

BOARD OF DIRECTORS

Lisa Wimberly, ChairmanRay Sides, Vice Chair

David Pontius, TreasurerDolly Bugg, Secretary

Mary Jane Bevill, DirectorJerome Carr, Director

Teresa Mason, DirectorGordon Neighbours, Director

Bobby Simmons, Director

UPCOMINGCREDIT UNION

HOLIDAY

MLK DAYBoth branches closed

on Monday, January 18.Sycamore View Branch will be open on Saturday, January 16

from 9 am - 1 pm.Sign up for convenientonline banking to bankanytime, anywhere on

ShelbyCountyCU.com

Shelby County Federal Credit Union

Routing Number:

284085197

Common Cents

First, Keep a Spending JournalYour first step in budgeting is to simply jot down what you spend in a notebook for at least a month. After a month of tracking all your expenses (ALL of your expenses), you’ll have a clear picture of where your money’s going, and you’ll have most of the key details to plug into your “official” budget.

Dave Ramsey’s EnvelopesFinance guru Dave Ramsey swears by this method of household budgeting. Once you get an idea of spending habits in your journal, label several envelopes with the spending categories that tend to get away from you (like food and entertainment) and fill the envelopes with cash you’ll need for each category for the month. The benefit is that you aren’t using credit cards, and by spend-ing cash, you’re much closer to your money so you are more mindful of your purchases. Once the cash is gone, you’re done spending in that category for the month.

Excel and Google SpreadsheetsMicrosoft’s Excel program and Google Sheets provides several simple budget templates, and they’re easy to use. While manually entering budget data in spreadsheets can be tedious for some, many experts believe the extra ef-fort helps you have a better understanding of your money, which makes it easier to develop better habits.

Mint AppMint may be the most well-known budget-ing app. Once you’ve entered basic budget information in this internet and smart-phone app - such as banking, credit and investment accounts - Mint begins auto-matically tracking your money. The built-in goal-setting tools are robust and easy to use, and since it’s owned by Intuit, your data feeds right into TurboTax at tax time.

PearBudgetPearBudget is a Web app with a simple set up that includes a few dozen common ex-pense categories to choose from, and it’s all easy to change later if you need to. Mint is a little fancier but you do get some goal-set-ting and planning tools with PearBudget.

Tried and True Ways to Stay On Budget This Year5Planning a family vacation or a house remodel this year? No matter what your financial goals are,

creating a budget that works for you is the most important step in achieving those goals. Differ-ent types of budget methods work for different people. Whether you like high tech software, or prefer pen and paper, or somewhere in between, figuring out a budget method that works best for you is an important step in keeping on top of your finances. Here are a few recommenda-tions from US News Money.

Downtown Main Branch150 Washington, 3rd Floor, 222-1900

Sycamore View1160 Sycamore View, 377-8929

For information about shared branches, ATM locations,online applications and financial resources, visit

ShelbyCountyCU.com

Lending a Hand to Holly SpringsTo help our neighbors in Holly Springs, MS recover from devestating tornados that ripped through their community in late December, the Shelby Coun-ty Federal Credit Union has donated $250 to the Rivers of Faith Ministries Tornado Relief Fund.

Overcoming Money Anxiety in RelationshipsIt’s a new year and a great time to take your family’s financial planning by the reins. However, many people find that when it comes to talking about money and budgeting with their partner or spouse, it can lead to arguments, anxiety and dis-comfort. To build a healthy financial plat-form for your family, you and your partner need to work together and overcome the apprehension of discussing money, The first step is to identify what is causing the anxiety.

Pick a Family CFOOftentimes one of the partners is simply not comfortable with numbers. Detailed number crunching isn’t for everyone, so decide which of you will be the designated Family CFO. That person is responsible for maintaing and reviewing the budget and informing the other partner of the status of the budget. Note that the Family CFO does not solely dictate how the budget is spent; rather, they work with their partner to build a budget that makes sense for the family.

CommunicateLack of communication is probably the biggest cause of financial anxiety between couples. While it’s the Family CFO’s job

to manage the budget and providng information about budget status, it is the responsibility of other partner to ask questions when they are confused or unsure about a situ-ation. When you com-municate about money, remember that your part-ner is on your team and working with you towards your financial goals. Don’t accuse or get angry if you disagree with a financial decision; instead discuss rationally and offer solutions.

Identify Anxiety Sources and Deal With ThemLacking an adequate buffer in your check-ing account or not having an emergency fund can be a great source of worry and can cause tension in your relationship. When budget planning, make sure you address these sources of anxiety by shifting your spending habits to remedy these pit-falls. While you may have to make sacra-fices at first, you’ll find that ridding yourself of these concerns will be worth it in the

long run.

Schedule a Budget DateWhile it certainly won’t be the most ro-mantic date, scheduling a set day of the month to review the budget and discuss financial goals will ensure that you don’t procrastinate on your budget planning. Ensuring that your budget doesn’t get away from you will be time well spent. After you have finished your budget dis-cussion, reward yourself by going out on a real date to dinner or something fun!

Make an Appointment for Hassle-Free Loans!Through the end of January, make your appointment for our popular unsecured Hassle-Free loan program! These loans up to $1,000 can be used for student loans, unex-pected emergencies, dream vacations and more! To make your appointment, call our Sycamore View Branch Mon-day through Friday between 10 am – 12 noon at (901) 322-9053. No appointments will be taken via voice mail.

Mark Your Calendar2016 Annual

Member MeetingMarch 10, 2016 at 5:30 pmBenjamin L. Hooks Library

3030 Poplar Avenue