The Digital Save Smart Series 2

“Improving Your Financial Health”

The Digital Save Smart Series is an online awareness campaign that focuses on educating our members by providing them with  information and advice to help build their Financial Confidence! 

This year’s series is focusing on ways to help you improve your financial health by providing you with tips and advice!

Saving For Emergencies!
 

 
Question.
How much money is recommended that you save in an emergency savings account?

Typically, it is recommended that you save somewhere between threee to six months of expenses in your emergency fund!

Congratulations to 
Tammy Bobyk-Jacuemart, winner of the $100 Prize Package!
 
Using Credit Wisely
 
 
Question.
What types of factors affect your credit score?
The correct answer is payment history, amount of debt, age of credit accounts, mix of credit accounts and new credit inquiries!
Congratulations to 
Lisa McMartin, winner of the $100 Prize Package!

Making The Most of Your Pay!
 

Question.
 
What is the 50/30/20 budget rule when making a financial plan?
 
the correct answer is, the 50/30/20 budget rule is a basic rule to divide up after tax income allocating 50% on your needs, 30% on wants and 20% of it to your savings!
 
Congratulations to 
Janet Walker, winner of the $100 Prize Package!

 
 Managing Financial Stress!
 
 Question.
 
List 3 leading causes of financial stress.
Here is a list of a few:  1) lack of stable income 2) paying for education 3) wanting a nice lifestyle 4) not having enough money to fund an emergency 5)  not being able to retire 6) paying off debt.
 
Congratulations to 
Kellie Anderson, winner of the $100 Prize Package!
CUDGC