“Savings, Budget and Credit”� “How can you financially impact your next ten years?

William M. Fisher-Community Impact Officer

© COASTAL CREDIT UNION

03/23/2026 |

Banking Relationship�Having a banking relationship is like having a financial doctor!

-Most financial institutions offer the same 4 category of accounts.

�-It is important to establish a relationship with a financial institution because this will help you long term in securing loans and getting help when you need it. Having a banking relationship will also be helpful to you if you have account issues. This can get you certain privileges due to being personally known by the bank officers..

***Always verify bank statements, mobile banking apps and credit card statements for accuracy!

***Always inform your financial institution if you are traveling and plan to use your cards

***Find out if your financial institution has a financial planner.

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Checking

Savings

Money Market

Certificates of Deposit (CDs)

IRAs

Five Things most adults wish they had done financially when they were younger!

• Saved money for emergencies and invested for the future.

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• Learned to budget their money better.

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• NOT use credit cards for everything.

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• Had a better understand of credit.

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• Asked for help, from various resources such as personal banker, parents, etc.

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© COASTAL CREDIT UNION

3 |

03/23/2026 |

Basic Financial Foundations to impact the next ten years of your Financial Health.

• Start a Budget and Stick to it!
• Control and track your spending. Write down the things you are willing to give up or reduce.
• Write down your short, mid range and long-term savings goal, and budget for it. (Pay yourself first by saving at least 10% of your earnings)
• Stop using your credit cards and Start an Emergency Fund by saving at least $500-$1000.00 increasing over time.
• Determine the best plan to Reduce or Pay-off your debt!
• Consistently work to improve your Credit score.

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What are examples of being Financially Healthy?�

• You make enough income to live comfortably.

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• You have no debt, or your debt is manageable and being repaid on schedule.

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• You're saving adequately for short-term and long-term goals.

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• Your credit score is high enough to help you qualify for whatever financing you need with better rates.

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• You’re better prepared to recover from financial shocks.

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• You started the potential to build wealth by talking to a financial advisor.

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Important Do’s and Don'ts

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• Budget your money!!! Be disciplined!!! Keep it simple.
• Determine your NEEDS vs WANTS!
• Live below your means, spend less than what you earn.
• Avoid using a credit card to extend your lifestyle!
• Avoid new cars, especially cars with high maintenance cost.
• Don’t finance a car with negative equity without GAP insurance..
• Improve your credit score. A lower credit score will cost more for credit.,
• Sales/Coupons, Discount programs, i.e.-AAA, Student, Military, Groupon, etc..
• Renegotiate or cancel certain services or subscriptions-Cable or Wi-Fi Provider, Cell phone, Gym Memberships, Amazon Prime, Netflix, Hulu, Insurance providers, ect. Shop for better deals or packages or eliminate unused or unnecessary services.
• Stay Healthy-Exercise, eat right, promote self and family wellness to reduce Doctor visits.
• Consider giving up or reducing smoking and drinking. Calculate the monthly cost to track that expense.
• Make loan payments before due date.
• Enroll in your company’s retirement benefit plan and contribute maximum contribution.

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Sample Budget

Why do We Need a Budget?�“It’s better to tell you money where to go then wonder where it went”

• To help achieve your financial goals�
• To use money efficiently�
• To control and track spending

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• To prevent expensive overdrafts

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• To help you make financial adjustments

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Why is Credit Important?

• Helps decide whether someone will extend you credit in the future
• How much that credit costs
• Housing
• Utilities
• Jobs
• Other??

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10 ways students can boost good credit

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1. Become joint on a parent's account if possible.
2. Open your own credit card.
3. Get the right credit card for you.
4. Use the credit card for occasional, small purchases.
5. Avoid big-ticket purchases, except in cases of emergency.
6. Pay off your balance each month.
7. Pay all your other bills on time.
8. Don't co-sign for your friends.
9. Do not apply for several credit cards at one time.
10. Use student loans for education expenses only and pay on time.

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How to Maintain Good Credit

• Pay all bills on time
• Keep utilization on credit cards low (below 30%)
• Keep number of inquiries low
• Length of credit history
• Have different types of credit
• Dispute inaccurate information with credit bureau

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• Check your credit reports every year at www.annualcreditreport.com

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Your credit score determines your credit risk to lenders

How much will credit cost you?��Example: Used Car Loan for $15,000-5 year term

Please complete your financial check-up