Skyla Credit Union Blog

If you already contribute to a 401(k) through your employer, you might wonder whether opening an IRA is even necessary.

Choosing between a Roth IRA and a Traditional IRA can feel like a big decision, especially if you're opening your first retirement account. The good news? You don't have to be an investing expert to understand the differences.

Retirement can feel like one of those things that's easy to put off. After all, if retirement is decades away, why think about it now?

Ok, be honest - how many times have you attempted to do a debt paydown plan but it fell through the cracks or it was too hard to stick with? Maybe because the amount of debt is too exhausting to deal with or perhaps it’s the realization that it’s going to take a really long time to pay it off. So postponing your pay-down plan for a later date probably feels like an easier decision.

Does this sound familiar: You swear you are going to save a specific amount of money by a certain date but then something always comes up. Next thing you know, you are pulling money out of your savings and whispering to yourself “I will put it back later.” Spoiler alert: later never comes.

Think about the last time you traveled. Do you remember how much you spent? Did you set a budget? Did you go over that budget? Or did you stay diligent and manage to enjoy your trip while staying on track?

If you’re already in (or ready to be in) a committed relationship, chances are your finances will mix and mingle at some point. For many couples, discussing money with their significant other is one of the most challenging talks. It’s common to feel ashamed or embarrassed about financial hardship because you have a fear of being judged by someone who has your heart.

Let's be honest... no matter how well you plan and prep for emergency savings, the truth of the matter is something unexpected and un-budgeted is going to happen. Unfortunately, these big curveballs life throws at you aren’t typically cheap enough that skipping a subscription payment like Netflix will put your budget back on track.

Be honest - how many times have you been in this situation: You take the time to sit down and really hammer out your budget. You know how much money should be going towards groceries and eating out, you’re set up to save a little more each month, and you feel good about your new system.