PHONE SYSTEM UPGRADE

We have upgraded our phone system for more convenient communication. Dial in options have changed. Please be sure to listen to all options before making your selection. Thank you for your patience as we fully implement the new phone system. Please also use the new chat feature on the bottom of the website for live response during normal business hours.

Financial Fitness Can Be Yours


Yes, New Year’s resolutions are a month off, but it’s never too early to get your finances healthy! Your finances, and the decisions you make about them, change over time. They are different from your friends’ or your parents’ finances. Still, some broad guidelines can help you get a handle on your financial plans.

* On average, mortgage lenders expect your payments to be no more than 28% of your monthly gross income (before taxes, Social Security, and other deductions). Another method says that your PITI (principal, interest, property taxes and insurance) plus your total long-term debt (car payments, college loans, installment payments) should not exceed 36% of your gross income.

* How much should you be saving? Financial experts suggest three to six months’ take-home pay in a savings account. That can take time to build up, and you may need to raid your account even while you’re adding to it. Still, if you consistently put aside 5% of your take-home pay, using payroll deduction, you’ll reach your goal.

* For long-term retirement savings, at minimum put a percentage into your 401(k) that equals what your employer will match. Anything less and you’re actually giving up free money. Ideally, contribute the maximum your employer allows into your 401(k). Can’t swing that much while you’re saving for your child’s future education expenses? Keep this in mind: You can borrow to meet higher education expenses, but you can’t borrow for retirement expenses.

Looking for more ways to keep your finances healthy? Liberty Savings offers free seminars, education and online links to help all of our members.  Or contact us at any time to learn about all the services available to help you meet your goals.

Third Party Disclaimer

By accessing the noted link you will be leaving Liberty Savings Federal Credit Union's website and entering a website hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Liberty Savings Federal Credit Union's website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Liberty Savings Federal Credit Union.


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