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Budgeting 101

Budgeting tends to get a bad rap for being overly complicated and really time consuming, but budgeting can actually be simple. Here are some tips and tricks to help you stay on track.

1. Take into consideration your income and your expenses and make sure they match up. If you are spending more than you earn, go back through all of your expense categories and revaluate them until you are able to get your expenses to match your income. 

2. Take anything that you have leftover and put it into a savings account. Every good budget has a savings account and there are several options out there to help you make the most of your money. Some examples include a basic savings account, a Prime Share savings account, a Money Market savings account, or a Certificate of Deposit. You can learn more about the different savings account options available to you here. 

3. Take advantage of modern day resources! There are many tools available to make budgeting simple and easy. Gone are the days of spreadsheets or pen and paper budgeting. Now you can utilize tools like Mint.com and Quicken, which both have websites and apps to help you streamline your budget. These tools do the busy work for you! 

4. Having a budget does not mean you have to eliminate all of your fun activities. You can still go shopping, golfing, or out to dinner with friends and still stay on budget. Identify how much you can afford to spend and set limits on your spending for those activities.

A budget does not have to be your enemy! It’s all about tracking your spending, knowing your limits, and living within your means. Interested in getting started? Visit the UKFCU Smart Money Center to take advantage of a wide array of personalized tools engineered to boost your financial wellness. 

*Membership eligibility required. 

UK Federal Credit Union is a not-for-profit financial cooperative. Our sole purpose is to serve the financial needs of our members by offering our members quality service and products while maintaining a financially strong institution. Instead of planning for stockholder profits, credit unions focus on serving their Membership. Our services include, but are not limited to, personal banking, business services, lending, and investment services. To learn more, visit one of our six locations or check out our website at https://www.ukfcu.org

Our Locations

Hamburg
2557 Sir Barton Way
Lexington KY 40509
Phone: 859.264.4200
Lobby & Drive Thru Hours:
Monday – Friday: 9:00 a.m. – 6:00 p.m. Saturday: 9:00 a.m. – 1:00 p.m.

Export Street
1080 Export Street
Lexington KY 40504
Phone: 859.264.4200
Lobby Hours:
Monday – Friday: 9:00 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m.
Drive Thru Hours:
Monday – Friday: 7:30 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m.

Reynolds Road
370 Meijer Way
Lexington KY 40503
Phone: 859.264.4200
Lobby & Drive Thru Hours:
Monday – Friday: 9:00 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m.

Beaumont Center
940 Midnight Pass
Lexington, KY 40513
Phone: 859.264.4200
Lobby & Drive Thru Hours:
Monday – Friday: 9:00 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m.

Tate’s Creek Branch
689 Wilson Downing Rd.
Lexington, KY 40517
Phone: 859.264.4200
Lobby & Drive Thru Hours:
Monday – Friday: 9:00 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m.

UK Center
160 Avenue of Champions, Suite A – 210
Lexington KY 40506
Phone: 859.264.4200
Lobby Hours:
Monday – Friday: 8:00 a.m. – 6:00 p.m.

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