February 2018 Newsletter
What does your Budget Look Like?

My name is Tanya Verzoni, Director of Financial Education at New Dimensions Federal Credit Union. It is our mission to help our members, folks just like you, realize their financial goals. Whether it is to get out of debt, improve your credit score, buy a vehicle or home, we are here to provide you with the education, tools, and services to achieve your goals effectively. Each month, you can count on this column to feature financial tips and best practices that will help you along your journey towards reaching your goals.

Many people begin a new year with a resolution to improve their financial wellness, which is a great goal, but where do you begin? It can seem very overwhelming when you start out especially when piles of bills are due (some past due), there are no emergency savings, you need a new vehicle, and oh, the roof is beginning to leak, too. Unfortunately, in some cases, your credit may not be that great. This is all very stressful and reminds me of an old commercial for a bath and beauty product, “Calgon, take me away!” Sadly, that product can’t magically fix your finances, but there is hope; you just need to take it one step at a time and start with the basics.

First, start with an honest household budget. When I teach classes at local schools and businesses or counsel members in my office, a clear, concise budget is where we always begin. A budget must clearly define all sources of income and ALL expenses! Yes…ALL OF THEM! If you spend money on it, it’s considered an expense.  I also encourage people to “PAY THEMSELVES FIRST.” This simply means after you have accounted for your needs (housing, utilities, food, medications, car payment, insurances, oil, etc.) you determine a specific amount that will be added to your savings account. Then, you are free to spend what is left over on your wants or earmark money for other financial goals like eliminating credit card debt.
Soup Day
Come out of the Cold!
Join us on February 2nd for our infamous Soup Days. We will have various soups and stews available. As always, your soup will come with bread ~ all for $5.00.

All proceeds will go to our Ending Hunger Campaign and Special Olympics Maine.
Book Sale
Don't miss out on
some great titles!
Join us from February 5th through February 16th for our annual Book Sale. As always, hardcover books will be on sale for $1.00, while softcover will be just $.50.

All proceeds will go to our Ending Hunger Campaign and Special Olympics Maine.
Who doesn’t need money for school? Apply for our scholarship today!
Each year, one scholarship is awarded to a graduating senior in the amount of $1,000.00 to be used for any school-related expenses, such as tuition, books, or supplies. *

If you are currently a High School Senior and will be continuing your education at a college, university, vocational or technical school this fall, then don’t delay to apply for the annual New Dimensions FCU Scholarship! See the link below for rules and the upcoming deadline.