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Keep Your Most Important Resolution

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Published on January 11, 2021

Keep Your Most Important Resolution: Save Money in 2021

Happy New Year!

Now, let’s hear those resolutions.

  • Exercise more.
  • Eat better.
  • Take one of your “bucket list” trips.
  • Save money.

As a credit union, we love hearing our members talk about their financial resolutions because we have ways to help them reach their goals.

So, let’s start with “save money.”

There are multiple ways to save. You can dine in more than dine out, limit your lattes to once a week rather than days that end in “y,” and resist the urge to take advantage of the sale at your favorite store − the same sale they had last month.

Here’s another way to save: Review your credit cards and existing bills.

Do you know the interest rate for each of your credit cards?

The average consumer credit card is 22%. With an interest rate this high, it’s likely the payment you're making each month is just paying off the interest you accrued last month and not really impacting the balance. This means, you’re paying your bill but getting nothing in return. If you’re not in a position to increase your payment, there are other steps you can take to pay down your debt.

Consider taking advantage of a credit card balance transfer opportunity.

Often times, there are special rates available and no fees to transfer the balance. Taking advantage of one of these options means that you’ll have a lower interest rate and accrue less interest on your balance. That equals more of your monthly payment being applied to the principle.

Repaying interest on your credit card balance is likely something you haven’t accounted for, but it’s an expense that impacts your monthly budget.

If you go this route, pay attention to the details of the special offer period. These offers are typically good for several months. If you stick to the plan of transferring your balance and avoid using your card for additional purchases, by the end of the offer period, you can either pay off your card in full or at least pay down a good chunk of it. Either way, you’re way ahead of where you were before.

Even after you pay off your card, keep making that monthly payment - but now, pay yourself. Whether you set up an automatic deposit or transfer, continue setting aside that monthly payment. You’ll be amazed how quickly your savings balance grows!

Consolidate, consolidate, consolidate.

Do you have several credit cards or installment loans? Consolidating these bills is another way you’ll save time and money. When you consolidate multiple payments into one, you’ll have a single monthly payment and interest rate, making it easier to stay on track and lower your balance. Plus, since paying your bills on time is one of the most important factors of strong credit, having one payment to remember will help you make that payment on time each month. Try this calculator to see how much you could be saving by consolidating your accounts.

Save money with a cash advance

If you’ve mastered budgeting and aren’t focused on paying off debt this year, what about taking advantage of a loan that has a super low rate? Credit card cash advances are quick, easy, and affordable ways to finance lingering home improvement projects or significant purchases. If you’ve never considered this option before, it’s a great way to make your credit work for you. Whether you’re re-tiling your bathroom or in search of the perfect mattress, having the spending power to make the purchase means when the time comes, you’ll be ready.


Now through March 31, Community Choice is offering a special cash advance offer of zero balance transfer fees and a super low rate of 2.75%APR 1 for up to 12 months.

To take advantage of this offer, , click “Visa” then “Services,” call 866.820.3867, or visit your nearest member center.

You can learn more about this promotion and calculate your savings by visiting


1 APR = Annual Percentage Rate

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