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At Telco Credit Union, we know it can be difficult to save money, but we also know that saving money can benefit you greatly in the long run. Telco serves Greenville, Tarboro, Rocky Mount, and the Eastern North Carolina area. You can trust us with all your financial needs. Whether you want to open a checking or savings account, take out a loan, finance your mortgage, or become a Telco member/owner, we've got you covered. 

One excellent way to start saving money is to set up a budget for yourself. A budget is a plan that shows you how you can and should spend your money each month. Creating and sticking to a budget can help you make sure you're spending your money on the right things, and so that you don't run out of money every month. Also important, a budget will help you save money for the future. There are many online budget templates you can work from, but it's important to find a budget that you'll stick to. 

So, how do you make a budget? First, write down your monthly expenses (what you spend money on). Expenses include bills, like rent (a bill you must pay each month), utilities (bills you must pay each month but may change), and car insurance (a bill you may pay once or twice a year). Expenses also include things you spend money on regularly, like food, entertainment, gas, clothing, school supplies, medical bills, unplanned expenses (like car repairs), credit card bills, and so on. Once you start tracking what you're spending on bills, it may get easier to track your monthly expenses. 

Next, write down how much money you make. Think about your paycheck(s) and any other money you receive, like child support or from a family member or friend. Include any regular income in this category that you can think of. 

Then, subtract your expenses from your income. Once you get the result, your number should be more than zero. If the result is less than zero, that means you're spending more money than you make (and if you are in debt, this may be one reason why). 

Finally, look over your budget and evaluate. See what you're spending money on that you do not need, and make a plan for the next month. Use your budget every month as a goal: at the beginning of each month, make a plan for how you'll spend your money. Consider what you think you'll earn and what you are contemplating on spending. Then, write down what you spend. If you can get into this habit every day, it will be easier to evaluate your budget at the end of the month. At the end of the month, see if you spent what you planned to spend. Then, use this information to plan for the next month. 

Budgeting can be complicated, frustrating, and difficult, but it can also lead you to financial freedom and increasing your savings. At Telco, we want you to feel that financial freedom. Contact us if you have any questions, or if you're interested in any of our services! We are proud to serve the Eastern North Carolina area as a primary credit union. 

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(Also serving ROCKY MOUNT)

 (800) 682-8688
0(252) 823-0119 local
(252) 823-1001fax

1720 Barlow Road
Tarboro, NC 27886

PO Box 4002
Tarboro, NC 278


(252) 214-7060
0(252) 756-4751 fax
631 E. Arlington Blvd.
Greenville, NC 27858

PO Box 2929
Greenville, NC 27836
National Credit Union Administration logoYour savings insured by National Credit Union Administration, a U.S. Government Agency.