SeaComm Federal Credit Union OFFICIAL BLOG

3 Money Mistakes – and How to Fix Them

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The following money mistakes can ruin your budget! Here’s how to fix them…


Putting your subscriptions on auto pay. Many companies relish the constant income from customers who sign up for ongoing monthly charges, and then forget to monitor or cancel the charge!

Remember to cancel extra streaming or phone services you no longer need, or the trial periods that start to charge your credit card after 30 days. Be sure to read your bills carefully to spot services you no longer use.



Making a habit out of your splurges. You can rationalize a small luxury because it’s cheap. While spending $6 on a fancy caffeinated beverage isn’t a bad splurge once in a while, if you do it every day, that $6 treat becomes a $180-a-month expense!

Instead, you should track your spending on a regular basis. It’s the best way to control it! A simple budget is easy to make and rewarding to use. It’s important to reward yourself once in a while to a treat you can afford, but always be careful about overindulging.

By utilizing SeaComm’s mobile app, you’re able to track your spending from 7 days to one full year! You can view your spending patterns and compare your income and expenses side by side. In addition, SeaComm’s Online Financial Management Program, accessed through NetTeller™, also helps you budget and track your expenses with a 360 degree view of your accounts! Click here to read our blog post for step by step instructions.


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Living without an emergency fund. You’re taking a big risk without a safety net when you have no emergency savings. It’s important to build that financial cushion to cover your net take-home pay for seven or eight months. For example, if you take home $3,000 a month after taxes, your emergency fund should be at least $21,000.

Call (800) 764-0566 or visit your nearest SeaComm branch location to discuss the best savings options for your individual lifestyle!

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