Financial Fitness

Financial Fitness

As your financial life partner, we want to help you get fit—financially!

You will be better prepared to take on the big things by building healthy habits into your lifestyle now.

To help you, we have developed the Financial Fitness series! Every month we will focus on a different aspect of financial fitness.We will have tools, booklets, and activities to help you build these into your life.

  • Save money by ensuring your products are right for you
  • Achieve short and long term goals
  • Manage your daily money needs
  • Set yourself up for financial success
  • Prepare yourself for life's milestones
Book an appointment with your Personal Financial Fitness Trainer–a SASCU Advisor–to learn more. 

Are you feeling stressed about money? Helpful tips about your Financial freedom can be found here.

Healthy Budget Habits

What are the advantages to having a budget and saving?

  • Having a budget is the first step to understanding where all your money is currently going.
  • A budget requires you to decide what your goals are and establish financial priorities.
  • It helps you make better use of the money that comes in your hands.
  • A budget helps you see whether your goals are attainable and tests your commitment to your goals.
  • Saving early makes a difference.
  • Discover our Savings Growth Calculator to see how starting early can really make an impact!
  • Are you saving some money from each paycheque?
  • Can you start with something small like $50 a paycheque?

Now that we know why budgeting is important, lets discover how to create and follow a proper budget. 

  • First, establish a realistic budget. 
  • Find the balance between living within your means and living comfortably. 
  • Download our interactive online budget to see what money you have left over.
  • Make sure that left over money is accounted for and put towards your goals.
  • What are your financial goals? Saving for a car? A house?
  • Once you've decided what you want to save for, set up Auto Transfer.
  • Auto Transfer will automatically transfer money from one account into your savings account.

Talk with your SASCU Advisor today to review your budget and choose your best options!

Account Check Up

When did you last do a health check on your bank account? The way we bank changes over time; the account we had a few years ago may no longer be the right fit today!

Taking a look at your options and making a small change can save you money!

Questions to ask yourself:

  • How do you use your account?
  • Have you reviewed your monthly service fees?
  • What are your primary modes of banking? (Online, Debit Card, In Branch)
  • What account is suitable to your needs?

Come in to talk to an Advisor or check out our different accounts online.

Credit Core Strength

Strong credit score is fundamental to financial fitness!

  • Credit Scores are a big measure lenders use to decide whether to lend money to you and at which rate.
  • You may even get better insurance rates with a strong credit score. (Talk to SASCU Insurance for more information)
  • Building your credit early can set you up for success.
How can you build good credit?
  • Know that building good credit takes time
  • Start with a credit builder card, such as a Classic or Student Mastercard.
  • Apply for credit sparingly.
  • Do not use more than 35% of your available credit.
  • Regularly check your credit report for inaccuracies.
  • Focus on paying off your debt.
  • Never be late for a payment, use Collabria Auto Pay (automatic, reoccurring transfers to your credit card)

Do you know your Score?

  • If not ask SASCU if your score is in our system. OR
  • Get your score and a credit report from Equifax or TransUnion.

What is the advantage of checking your credit report annually?

  • It's a good way to check for identity theft.
  • Gain understanding about what is being tracked.
  • Find out who has been checking your credit history.
  • Helps plan for major loans and purchases.
  • Resolve any inaccuracies early.
Learn more about credit scores and reports here or talk to a SASCU Advisor today.

Marathon Savings

Put in the energy and effort now. Relax later. The biggest thing is getting started and having a plan that works itself, like using automatic transfers and deposits into the right products. 

Our staff can help you decide on the right steps, and whether a TFSA, an RRSP or a combination is the right investment for you. For your long term goals, such as retirement or your child's RESP, make sure you are getting the most out of your money by letting the power of compounding work its magic.

Want to see how much your tax-free savings will go? Try our TFSA Calculator. Want to plan for retirement? Try our Retirement Planner Calculator. Curious how much you can save for your child's education fund? Try our Education Savings Calculator. 

We will help you balance moving toward your long term goals with what you need to enjoy life today! It's not painful and when you need that boost of energy to stick with it, your personal trainers at SASCU are here for you! Contact an advisor today to discuss and plan for your long term savings goals.