Pay On Time- Money Tip Monday!

It's Money Tips Monday!

Keeping track of a monthly bill seems like an easy task, but it can be tough.  Paying off or paying down your credit card every month is so important. By paying on time you maintain a goo reputation with your lender, save money because you'll benefit from a lower interest rate and you will help grow your credit score. Remember, when you use a credit card, you are using borrowed money, not free money.  I also want to add that, the minimum amount due is what you must pay, however, it is wise to pay more than the minimum due in order to avoid more interest down the line. 

In order to be a good manager of your finances and pay your bills on time, you can set up automatic bill pay, write it on your calendar or set a budget every week. Doing this will not only help you save money, but it will also help you pay off those credit cards even faster. 

Remember you can be a good manager of your money. I hope today's tip helped you out! Have any questions? Ask away! 

Are you looking to get a credit card? Check out what Michigan First Credit Union has to offer with the Experience Michiagn First Rewards VISA!

Keeping it Fresh, Young & Free,

Ebeth