YOUR MONEY
> UNDERSTANDING IT
> MANAGING IT
> MAKING IT WORK FOR YOU
It’s not just banking, it’s belonging.
Table of Contents
Banking Know-How. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Learn what to look for when opening an account at a
credit union or bank.
Savings TIPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Get some helpful hints on how to save for that longed-for
item or for a rainy day.
Budget Know-how. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Budgeting your money is easy with these tips.
Understanding Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Learn about your credit score and get helpful ways to
boost it.
Understanding Credit Cards . . . . . . . . . . . . . . . . . . . . . 17
Credit cards are helpful tools when used responsibly.
Turn here for useful credit card strategies.
Understanding Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Learn the ins and outs of getting a loan.
What Is Identity Theft?. . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
In today’s electronic world, protecting your identity is an important
step to managing your money. Get helpful tips here.
Household budget worksheet. . . . . . . . . . . . . . . . . . . . 28
Whether you’re working on a budget or composing a wish list,
turn here for worksheets that’ll keep you organized.
Navy FEderal Services and Numbers . . . . . . . . . . . . . 36
Important account numbers . . . . . . . . . . . back pocket
Keep track of important information and store it in a safe place.
For more information about our products and services, visit navyfederal.org,
call 1.888.842.6328, or stop by one of our worldwide branches.
Basic MONEY Management 3
BANKING KNOW-HOW
If you haven’t already found a financial institution, look for one that offers
the products and services that complement your life. Once you’ve found
the right one, it’s time to open your accounts!
What You’ll Need to Open Your Account
Whether opening an account online, over the phone, or in-branch, you’ll
need a government-issued picture ID, like a driver’s license, that proves
who you are.
Look for These Account Features
When selecting an account, look for one that provides services that correspond
to your needs. The following are some of the most frequently requested services.
All are available through Navy Federal:
Combination Check and ATM Card. Sometimes referred to as a “debit
card,” a check card allows you to pay for your purchases by simply
swiping your card at checkout. You can also use it to withdraw funds
from an ATM by entering your Personal Identification Number (PIN).
The money is taken automatically from your checking account.
> S
mart Tip: To track spending, keep your receipts and record them
in your account register or online.
Direct Deposit. Get immediate access to your paycheck by requesting
that it be automatically deposited into your account. This way, you
can avoid the hassle of standing in line at a branch or paying fees at a
check-cashing service. To set up Direct Deposit, you’ll need your account
number(s) along with the financial institution’s Routing/Transit number
(Navy Federal’s is 2560-7497-4).
> S
mart Tip: Consider requesting that a portion of your paycheck
be deposited into your savings account. Even $5 a pay period will
add up quickly and, since you don’t ever “see” the money, it’s easier
to save it!
Online Account Access. With online access to your accounts, you
can track your expenses, transfer money, and know what funds you
have available anytime, anywhere. Plus, you can make bill paying
easier by setting up automatic payments through Bill Pay.
Scan Deposits. With Scan Deposits, you can deposit personal and
business checks from your home, office, or anywhere else you have
access to a scanner.
> S
mart Tip: To cut down on unnecessary paper, consider requesting
electronic versions of your statements.
Mobile Banking. With Mobile Banking, your money is at your fingertips—
literally. You can check your balance, transfer funds, deposit checks with
your phone, and much more.
> S
mart Tip: To safeguard your accounts, be sure to use your phone’s
security features.
2
YOUR MONEY
Basic MONEY Management 3
Track Your Spending
Now that you’ve got an account, you’re ready to go! But remember,
just because you have an account doesn’t mean there’s money in it. To
ensure that you don’t overdraw your account, track the amount of money
you spend.
You can do this by recording transactions by hand in a register, by using
a basic computer program like Excel, or using a free online service such as
Mint.com. Consider categorizing your expenses, allowing you to see how
you spend your money. (Is most of your money spent on dining out? Car
expenses? Clothes or household items?) This information will be helpful
when setting up a personal budget.
Be sure to track everything that comes into your account (deposits) and
everything that goes out (debits), including any fees from your financial
institution or cash withdrawals from an ATM.
If money gets tight between paychecks, consider chatting with your
credit union or bank about overdraft protection options, which may cover
purchases even if you don’t have enough money in the account.
Reconciling Your Account
Whether you sit down with a statement and receipts in hand, or simply
track expenses and deposits online, it’s important to reconcile your
account each month. To reconcile your account, double-check the
numbers from your records against
the statement from your credit
union or bank.
This process helps you ensure that
no errors were made, determine
what payments are outstanding, and
verify how much money is available.
For detailed instructions or software
programs that can help you reconcile
your account, simply enter “Reconcile
a Bank Account” in any search engine.
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YOUR MONEY
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Basic MONEY Management 5
SAVINGs tips
Saving for a Rainy Day
No doubt you’ve got your heart set on something special, but how are you
going to pay for it? Consider planning ahead and paying for it outright,
rather than taking out a loan.
Save Now … for Later
It’s easy to get in the habit of saving by paying your savings account first.
By getting the money “out of sight,” you won’t be tempted to spend it.
One way to do this is to use Direct Deposit to send a portion of your pay
directly into a savings account, or an automatic transfer on the date of
your choosing.
Want to Get Rich? Start Saving!
Although for some retirement seems like a distant dream, saving a little
today can really pay off in the long run! Consider the following scenarios:
From age 21–31, Courtney adds $100 per month to her savings, totaling
$12,000 in deposits. She leaves the money in an account with a 5%* annual
return, which compounds monthly until she retires 44 years later at age 65.
SavingsSavings
Growth Growth
AmountAmount
InvestedInvested
*Rate for exemplary purposes only. Actual rate may vary.
6
YOUR MONEY
44 years
44 years
30 years
30 years
Jacob doesn’t begin saving until
he turns 35, but then saves $100
a month until he retires 30 years
later at age 65. He deposits the
money in the same kind of account
as Courtney’s, and although he
saves $36,000, he only accumulates
three-quarters the amount that
Courtney does.
$36,000
$36,000
$12,000
$12,000
Courtney
CourtneyJacobJacob
Age 21–31
Age 35–65
Age 21–31
Age 35–65
Experts recommend establishing an emergency
fund equal to a minimum of three months’ salary.
This fund can be used for unexpected auto repairs,
medical expenses, or living expenses. Just remember
to replenish the fund if you ever borrow from it!
A savings account is a great place to start saving, but once
your account is more established, consider these other savings options:
Certificate (CD)
> Generally pays a higher interest or dividend rate than a regular
savings account.
> Requires you to open a CD for a specific amount of time (generally
ranging from three months to seven years). In many cases, you
cannot withdraw the money during that time without paying a penalty.
However, the fee is only applied to interest earned, and you will get
back the entire amount initially deposited.
> Requires a minimum deposit to open.
> Is able to be withdrawn or moved into another CD once it reaches
its “maturity date”—the date the CD expires. Upon maturity, the
certificate can be renewed or the funds withdrawn or transferred
to another account.
Individual Retirement ARRANGEMEnt (IRA)
> Does not require a minimum deposit to open.
> Excellent approach for retirement, as you cannot withdraw money
until age 59 1/2.
> Choose from two types:
Traditional—pay no taxes on your contributions until you withdraw
the funds.
Roth—you pay taxes now and withdraw the funds tax-free when
you retire.
For more advice on creating your personal savings and investments plan,
consider turning to the financial advisors at Navy Federal Financial Group.1
Simply visit navyfederal.org and click on “Investments & Insurance.”
Basic MONEY Management 7
Make Your Retirement Savings Work Harder
Saving for retirement doesn’t need to rest solely on your shoulders. Many
employers offer terrific retirement savings plans, sometimes matching
your personal contributions dollar for dollar up to a certain point. That’s
like free money toward your retirement!
If your employer offers a 401(k), the general rule is to contribute at least
the same amount your employer is contributing so you’ll automatically
double your investment. If your employer doesn’t offer a savings plan
like a 401(k) (or the Thrift Savings Plan for government employees and
servicemembers), you can still start your retirement fund by opening an
Individual Retirement Arrangement (IRA). Visit navyfederal.org to check
out the IRAs we offer.
BUDGET KNOW-HOW
A budget isn’t meant to cramp your style. It’s just a tool to help you track
how much money comes in and direct how and where it goes out. By
doing this, you put yourself in a powerful position. Just remember—keep
it simple.
Setting up a Budget in Four Easy Steps
3
c Identify how much money comes in each month. This comes from
your net pay (after taxes) and any other sources of income you
may have.
> Smart Tip: If you’re active duty, don’t include military housing
or food allowances in the income portion of your budget since
they can disappear if you’re deployed.
3
c Write down how much money goes out each month. If you’ve
already been tracking your spending, this part is easy! If not, start
today by gathering monthly bills or going through your monthly
bank statements.
3
c Divide your expenses into two categories: fixed and variable. Fixed
expenses include payments that don’t vary from month to month
like rent, car payments, and Internet bills. Variable payments include
expenses that change from month to month like groceries, dining out,
and clothing purchases.
3
c Total the income and expense columns and make a plan for how
you’ll spend money this month. How do the numbers look? If more
money is coming in than going out, you’re in good shape. If not,
review the variable expenses and see where spending can be trimmed.
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YOUR MONEY
> S
mart Tip: To help simplify the process, consider using the
Household Budget worksheet on pages 28–31, a basic computer
program like Excel, or a specialized program like Mint.com.
call 1.888.842.6328, or stop by one of our worldwide branches.
Basic MONEY Management 9
Budgeting Resources
navyfederal.org and search “Managing Your Money”
money.msn.com and click on “Personal Finance”
practicalmoneyskills.com and click on “Personal Finance”
mint.com—get free financial insight
Keeping to Your Budget
During the first few months, continue to track expenses and compare
them to your budget. Remember, this is your plan, so spend a few minutes
thinking about what you want.
> Is your budget realistic, or does it need to be tweaked?
> Are you on track with your spending plan? If not, what needs
to be changed?
> What are your short- and long-term financial goals? Is the budget
set up to help you reach them?
Updating Your Budget
A budget that works today won’t necessarily work in five years. The
following life changes often mean it’s time to rework your budget:
> Getting a new job, promotion, or raise
> Making (or planning to make) a large purchase,
such as a new car or house
> Moving to a more (or less) expensive location
> Changing your marital status
> Having a baby
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Basic MONEY Management 11
UNDERSTANDING CREDIT
What’s in a Credit Report?
Personal
Information
Your name, Social Security number, birth date,
current and previous addresses, and current
and previous employers.
What Is a Credit Report?
Credit
History
A credit report is simply a history of your credit transactions that showcases
your financial strengths and weaknesses. Lenders, potential employers,
and landlords review your report to gauge how you handle money. And
yes, your credit report can affect whether you get a job, loan, or place
to live.
Specific information about credit accounts
that were opened in your name or that list
you as an authorized user.
Public
Records
Information from government sources like
bankruptcy records, court records, tax liens,
monetary judgments, and overdue child support.
Inquiries
Any time a person or company accesses
your credit report, the inquiry is recorded and
generally remains on your credit report for
up to two years.
Whether it’s getting a loan, finding a place to live, or even landing a job,
understanding and managing your credit is key to your financial success.
Take a few minutes to learn about credit, then start your credit history
on the right track.
Your credit report contains information about you that you provide when
completing credit applications, along with your account and payment
history from creditors. For more specifics, visit navyfederal.org and search
“Credit Reports.”
Review Your Credit Report for Free!
To keep your credit record on track, review your credit report each
year for free. Visit annualcreditreport.com or call 1-877-322-8228.
Be sure to take a few minutes to review the report for unusual
information. If you find inaccurate information, contact a creditreporting bureau with the dispute.
> Equifax*: equifax.com, 1-800-525-6285
> Experian: experian.com, 1-888-397-3742
> TransUnion: transunion.com, 1-800-680-7289
Remember, your credit score is different from your credit report.
If you’re planning on purchasing a car or a home, you may want to
review your credit score before applying for the loan. The scores
can be accessed from each bureau for a fee.
*Navy Federal has teamed with Equifax to offer members ongoing credit-monitoring service at
a discounted rate. For complete details, visit navyfederal.org and search for “Equifax.”
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Basic MONEY Management 13
What Is a Credit Score?
A credit score is based on the information in your credit history. There are
three credit-reporting bureaus and each use a slightly different formula to
calculate your score, which ranges from 300–850, so there may be slight
variations from each bureau.
A lender generally gathers the scores from each bureau and then
evaluates your creditworthiness. The higher your score, the better your
interest rate. A lower score means you’re a higher risk, so the lender may
not lend you money, or they could lend it to you at a higher interest rate.
What Determines Your Credit Score
Your score is heavily determined by five factors, with the most
emphasis placed on the first two items:
1.Your payment history. Paying bills on time boosts your
credit profile.
2.Amount you owe. The higher the debt load you carry, the
lower your score.
3.Length of credit history. The longer your credit history, the
higher your score.
4.New credit. Frequent credit applications or requests for your
credit report by creditors raise red flags.
5.Forms of credit. Having different types of credit—installment
loans, charge cards, or lines of credit—is viewed positively.
Improving Your Credit Score
Improving your credit score is easy, but it does take time. And remember,
before you start working on your credit score, take a good look at your
current income. If you can’t afford to take on debt, don’t. Remember, one
late payment can slide your score down the scale. It’s up to you to work
diligently towards your goal. When you’re ready, the following steps can
help boost your credit score:
1.Pay your bills on time. Yes, this seems like a simple step, but timely
payments establish a solid history, resulting in a higher credit score.
An easy way to make sure your payments are received on time is
to set up automatic payments with a service like Navy Federal’s
free Bill Pay.
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YOUR MONEY
If you already have credit and are struggling to pay your bills on time,
call the lender and try to negotiate a more affordable payment. If
successful, ask how the change will be reported to the credit-reporting
bureaus: “Paid as agreed” or “Paying under a partial payment
agreement/loan modified.” The response can make a big impact
on how your score is calculated.
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Basic MONEY Management 15
2.Pay down debts. Part of your score is based on how much debt you
carry versus how much money you make—your debt-to-income ratio.
To improve this ratio, pay down debt and, if possible, pay more than
the minimum payment amount.
3.Get a credit card if you don’t have one. To improve a credit score, build
your history by using and paying for credit card charges responsibly.
Be sure to look for a card that is reported to all three credit-reporting
bureaus so your good efforts are rewarded. If you’re having a hard time
getting a credit card, consider getting a secured credit card. Especially
great for those who are repairing their credit, a secured credit card allows
you to make purchases up to the amount you have set aside in your
savings account (as little as $500 at Navy Federal).
4.Don’t max out credit cards. Much of your credit score is based on how
much available credit you have. Experts recommend that credit card
balances be no more than 30% of the available credit limit. Want to
boost your score even more? Keep a balance of no more than 10% of
your credit limit!
5.Get an installment loan. Potential lenders look for solid credit history
that includes both kinds of credit: revolving (like credit cards) and
installment (like auto loans). If you don’t have an installment loan and
you can afford to take on extra debt, consider getting a small personal
loan from your credit union or bank.
UNDERSTANDING
CREDIT CARDS
Credit cards can help you establish and improve your credit score
while helping with unexpected purchases. But if they are not handled
responsibly, you can get into a lot of financial trouble.
Credit cards allow you to borrow up to a specified amount. The credit
company charges interest on the borrowed amount after a set number
of days. In addition to traditional credit cards, secured credit cards
charge against your own money and are a great way to start building
or repairing credit.
Remember, a credit card is not free money, and unlike a debit card, it
doesn’t come out of your checking account. It’s a loan with an interest
rate attached to it. The longer it takes to pay off a credit card balance,
the more interest you pay.
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Basic MONEY Management 17
Consider the following scenario:
Say you have a $2,000 balance on a credit card that has an 18.9% APR
(Annual Percentage Rate—the interest rate for a whole year, rather than
just a monthly rate). If you pay the minimum monthly payment, it will take
you 22 years to pay it off and you will have paid $4,688 in interest alone!
Credit Card Know-How
A credit card is generally accompanied with a slew of disclosures. And
while it’s tempting to toss the fine print aside, don’t! It contains valuable,
need-to-know information about interest rates, late fees, grace periods,
and more. When applying for credit cards, always be sure to read the fine
print before agreeing to the terms.
UNDERSTANDING LOANS
Paying cash for your new house or car would be nice. But in reality, most
of us will take out loans for big purchases like these. When applying for a
loan, be sure to get answers to the following questions:
> What is the loan’s APR (Annual Percentage Rate—the interest rate for
a whole year, rather than just a monthly rate)?
> What is the term (or length) of the loan? What terms are available
(five years, 15 years, etc.)?
> Is a down payment or cosigner required?
> How much will the monthly payment be? Can I afford it?
> Are there late charges? If so, how much?
Helpful Resources
For more information on credit, credit cards, and money-management
tips, check out the following resources:
> Are discounts available for active duty military members or members
of another organization? (Navy Federal offers additional discounts for
active duty military members.)
> Navy Federal Credit Union: navyfederal.org
> Federal Citizen Information Center: publications.gsa.gov
(click on “Money”)
> National Foundation for Credit Counseling: nfcc.org
> Money Management International Credit and Debt Counseling:
cccsintl.org
> Practical Money Skills for Life: practicalmoneyskills.com
(click on “Personal Finance”)
For more information about our products and services, visit navyfederal.org, 18
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Basic MONEY Management 19
Steps to Buying a Car
Is 0% APR Always the Best Deal?
If you’ve already decided on a car, consider applying for a pre-approval on a
loan. This can give you more bargaining power when buying from a dealer.
Sometimes you can save more by taking a rebate and financing less
money at a higher interest rate. Be sure to do the math before you take
the lowest interest rate and finalize the deal.
1. Research different cars, models, and prices.
> Smart Tip: You can also turn to Navy Federal’s free Auto Buying
Program by visiting navyfederal.org.
2. Take the car for a test drive.
3.Look into the price of car insurance.
> Smart Tip: As a general rule, the more expensive the car, the higher
the cost of auto insurance. And remember, accident rates are higher
for drivers under 25, so insurance rates are generally higher, too.
4. Shop at the right time.
> Smart Tip: Consider shopping for a car toward the end of the model
year or at month’s end when dealers need to turn over their excess stock.
5.Negotiate up from the invoice price, not down from the Manufacturer’s
Suggested Retail Price (MSRP).
> Smart Tip: A reasonable price is generally 3–5% above invoice,
depending on the market demand for the car. Or, consider shopping
at a dealer who has fixed prices. Always discuss rebates after the
dealer has signed a statement detailing the price and options.
Dealer Financing
Credit Union Financing
Purchase Price
$26,000
$26,000
Dealer Rebate
$0
$3,000
Loan Amount
$26,000
$23,000
Interest Rate
0.0%
3.9%
Loan Term
36 months
36 months
Monthly Payment
$722
$679
In this example, the credit union financing lowers the monthly payment
by $43, saving you $516 a year or $1,548 over the life of the loan!
To find out the particulars of your loan, check out our loan calculators
at navyfederal.org.
Car Insurance
Car insurance is a requirement in most states, and if you borrow money to
buy a car, your lender will require insurance. When selecting a policy, you’ll
be presented with various types of insurance—liability, collision, optional
Guaranteed Asset Protection (GAP), medical liability, and more. Be sure
to do your research before signing the dotted line. And, shop around to
compare prices. Navy Federal has partnered with GEICO® to offer special
discounts to our members. Visit navyfederal.org for more details.
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Basic MONEY Management 21
Car-Buying Resources
Navy Federal Credit Union (free Auto Buying Program, auto buying
videos, loans, and loan calculators): navyfederal.org
Consumer Guide Automotive: auto.consumerguide.com
Epinions (advice and opinions on cars): epinions.com
Kelley Blue Book (car values and reviews): kbb.com
Edmunds.com (car values and reviews): edmunds.com
CARFAX (vehicle history report): carfax.com
WHAT IS IDENTITY THEFT?
Identity theft occurs when someone uses your name, Social Security
number, credit card, address, or other identifying information to commit
fraud. Not only can thieves rack up debt in your name, but, if unnoticed,
they can ruin your credit history.
Protecting Your Identity
Below are a few ways you can help prevent your personal information
from getting in the wrong hands. For a more detailed list of ways to
protect your identity, visit navyfederal.org and search “ID Theft.”
Online
> Use a different
password for each
site you frequent.
> Keep passwords and
PINs private.
> Watch out for phishing
and email spam.
> Use care when
using Wi-Fi spots.
smartPhone
> Use the “password
protect” feature.
> Review financial
statements regularly.
> Turn off Wi-Fi and
Bluetooth connections
when not in use.
> Review your credit
report annually at
annualcreditreport.com.
> Sign up for text alerts
from your financial
institution to receive
account transaction
notifications.
> Deposit outgoing mail
in U.S. Postal Service
collection boxes only.
> Wipe your phone of
personal data before
discarding, donating,
or selling.
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At Home
> Never leave mail in
unlocked mailboxes
overnight or for
extended periods
of time.
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Basic MONEY Management 23
Choosing a Strong Password
In today’s electronic world, a strong, secure password will help protect
your accounts. Remember, don’t use the same password for multiple
accounts, change your passwords frequently, and choose passwords
that are easy to remember but hard to crack.
Strong Password Dos
> Use the first letter of each word in a sentence. For example, the
password for the previous sentence would be “utfloewias.” To add
even more complexity, capitalize some of the letters or add numbers
and punctuation marks.
> Use an equation. Strong passwords contain letters, numbers, and
symbols, so consider writing out an equation. For example, the equation
6x4=24 could be turned into a password written as “sixtimes4=20four.”
> Shift your fingers. Consider shifting your fingers one set of keys to
the right, making the password easy for you to remember but hard to
figure out.
Strong Password Don’ts
> Avoid using words found in the dictionary.
> Pass on words that are spelled backwards, common misspellings,
or abbreviations.
> Keep away from sequences (123456), repeated characters (bbbbbb),
or letters that are adjacent on the keyboard (qwerty).
> Don’t use personal information like your name, birthday, or family
members’ names, as this information is easy to find, especially on
social media sites.
“utfloewias”
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Basic MONEY Management 25
What to Do If Your Identity Is Stolen
3
cPlace a “Fraud Alert” with the three major credit-reporting bureaus.
The alert will notify existing and potential creditors of fraudulent activity.
3
cReview your credit reports carefully, looking for inquiries to companies
you haven’t contacted, accounts you did not open, or debts you
cannot explain.
3
cClose any accounts that have been opened fraudulently or otherwise
tampered with.
3
cContact Navy Federal and other financial institutions to obtain new
account numbers and PINs and have a special fraud code placed on
your accounts.
3
cFile a police report. Be sure to get a copy of the report or the report
number for future reference.
3
c
3 If applicable, get a new driver’s license and report any fraudulent use
c File a complaint with the Federal Trade Commission (FTC).
of your Social Security number.
ID Theft Prevention and Reporting Resources
Federal Trade Commission: ftc.gov/idtheft
Social Security Administration: ssa.gov, 1-800-269-0271
Equifax: equifax.com, 1-800-525-6285
Experian: experian.com, 1-888-397-3742
TransUnion: transunion.com, 1-800-680-7289
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Basic MONEY Management 27
Household Budget
Month/Year: ________
Budgeted
Amount
Week 1
(actual)
Week 2
(actual)
Week 3
(actual)
Week 4
(actual)
Week 5
(actual)
Total
Amount
Income
Net Income
Spouse’s Net Income
Other Income
Total Income
Fixed Expenses
Home
Rent/Mortgage
Insurance
Other Living Expenses
Utilities
Electric/Gas
Water/Trash
Phone/Cable/Internet
Other
Auto
Loan Payment
Gas/Maintenance
Insurance
Other
Insurance
Life
Health
Other
28
YOUR MONEY
Basic MONEY Management 29
Household Budget, continued
Month/Year: ________
Budgeted
Amount
Week 1
(actual)
Week 2
(actual)
Week 3
(actual)
Week 4
(actual)
Week 5
(actual)
Total
Amount
Financial Commitments
IRA/Retirement
Stocks/Bonds/
Mutual Funds
Savings/Money Market/
Bonds
Other
Variable Expenses
Food
Clothing
Entertainment/
Recreation
School/Daycare
Child’s Activities
Child Support/Alimony
Tuition
Educational Savings
Other
Loan Payments
Credit Cards
Store Credit Cards
Star Card
Consolidation Loan
Personal Loan
Student Loan
Monthly Dues
Miscellaneous Expenses
Other
Total Expenses
Funds left over
(Income – Expenses)
30
YOUR MONEY
Basic MONEY Management 31
Wish List Worksheet
Use this handy sheet to help you save for that must-have item.
Feel free to make copies or modify it to fit your needs.
Moving forward, I’ll:
cOpen a CD that keeps me from withdrawing money for _______
months/years.
What I Want
c Stop _________________________.
By ________________________, I want a ________________________.
c Start _________________________.
It costs $____________________.
How I’ll Get It
To get it, I need to save $________________ for _____________ months.
I can do this by not buying __________________________ and
__________________________, which totals $____________________.
To make sure I don’t spend this money, I will put the money in:
cMy savings account
cA special CD that earns more interest
c ___________________________________________________
How Am I Doing?
For the past _____________ weeks/months, I’ve been saving money so I
can buy a ______________________.
So far, I’ve saved $_____________________.
And I’ve learned that:
cSticking to my budget is easy.
cSticking to my budget is a lot harder than I expected.
cIt’s too easy to take money from my savings.
c ___________________________________________________ .
For more information about our products and services, visit navyfederal.org, 32
YOUR MONEY
call 1.888.842.6328, or stop by one of our worldwide branches.
Basic MONEY Management 33
Notes
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For more information about our products and services, visit navyfederal.org, 34
YOUR MONEY
call 1.888.842.6328, or stop by one of our worldwide branches.
Basic MONEY Management 35
Navy Federal
Services and Numbers
When it comes to your money, you want to have the right resources
to get you where you want to go. Navy Federal can help. In addition to
our checking, savings, and consumer loan products, we also offer free
personal finance counseling and retirement and financial planning through
Navy Federal Financial Group.1
> Checking accounts, including a checking account
that is perfect for an active duty lifestyle
> Checking Protection options
> Savings accounts for short- and long-term goals
> 24/7 online Account Access
> Free Bill Pay and Mobile Banking*
> Credit cards, many with reward programs
> Loans for new and used cars, motorcycles, and boats
> Personal loans
> Mortgage and equity loans
> Free personal finance management and counseling
> Retirement and financial planning
> Life and long-term care insurance2
> Business services
Contact Us
Free personal finance counseling: 1-888-503-7106
Retirement and financial planning: 1-877-221-8108
navyfederal.org 1-888-842-6328
If overseas, call collect at 1-703-255-8837.
*Message and data rates may apply.
36
YOUR MONEY
Important
Account Numbers
Protecting sensitive information like account numbers and passwords
is crucial, but there may come a time when you or another family member
need access. In this rare case, you’ll want to keep a copy for yourself
and family members in a secure location and provide a copy to your
Power of Attorney, if needed. To download and print these forms, visit
navyfederal.org.
Personal Computer
> Credit Card
INSURANCE
> Water/Trash
Company:
_________________________________
Company:
_________________________________
> Auto Insurance
Phone Number:
_________________________________
Phone Number:
_________________________________
Company:
_________________________________
Account Number:
_________________________________
Account Number:
_________________________________
Phone Number:
_________________________________
User ID:
_________________________________
User ID:
_________________________________
Account Number:
_________________________________
Password:
_________________________________
Password:
_________________________________
User ID:
_________________________________
Due Date:
_________________________________
Due Date:
_________________________________
Password:
_________________________________
Due Date:
_________________________________
User ID:
_________________________________
Password:
_________________________________
HOUSE
> Phone/Cable/Internet
> Mortgage/Rent
Company:
_________________________________
> Homeowners/Renters Insurance
Email Access
User ID:
_________________________________
Company/Landlord:
_________________________________
Phone Number:
_________________________________
Company:
_________________________________
Password:
_________________________________
Phone Number:
_________________________________
Account Number:
_________________________________
Phone Number:
_________________________________
Account Number:
_________________________________
User ID:
_________________________________
Account Number:
_________________________________
User ID:
_________________________________
Password:
_________________________________
User ID:
_________________________________
Password:
_________________________________
Due Date:
_________________________________
Password:
_________________________________
Due Date:
_________________________________
AUTO
Due Date:
_________________________________
Voicemail Access
Password:
_________________________________
Safe
Combination:
_________________________________
> Electric/Gas
FINANCIAL
> Life Insurance
> Auto Loan
> Credit Union or Bank Information
Company:
_________________________________
Company:
_________________________________
Company/Agent:
_________________________________
Website/Phone Number: _________________________________
Phone Number:
_________________________________
Phone Number:
_________________________________
Phone Number:
_________________________________
Account Access Number: _________________________________
Account Number:
_________________________________
Account Number:
_________________________________
Account Number:
_________________________________
User ID:
_________________________________
User ID:
_________________________________
User ID:
_________________________________
User ID:
_________________________________
Password:
_________________________________
Password:
_________________________________
Password:
_________________________________
Password:
_________________________________
Checking Account Number: _________________________________
Due Date:
_________________________________
Due Date:
_________________________________
Due Date:
_________________________________
Savings Account Number:
_________________________________
Credit Card Number:
_________________________________
Federally insured by NCUA. 1Products offered through Navy Federal Brokerage Services, LLC (NFBS) and
Navy Federal Asset Management, LLC (NFAM) are not NCUA/NCUSIF or otherwise federally insured, are not guaranteed
or obligations of the credit union, are not offered, recommended, sanctioned, or encouraged by the Federal Government,
and may involve investment risk, including possible loss of principal. Products may be offered by an employee who
serves both functions of accepting member deposits and selling nondeposit investment products. 2Insurance sold
through licensed insurance representatives of various companies.
Representatives registered with NFBS and NFAM (Members FINRA/
SIPC). 1-877-221-8108. © 2012 Navy Federal NFCU 1237 (11-12)