x
Breaking News
More () »

Saving money for the future can be tough, especially during a pandemic

Dallas’s Interfaith Family Services has a team of financial advisors that works to empower families in crisis to break the cycle of poverty.

DALLAS — Chrissie Ruspino shared her top three tips to help you save, save, save!

1. Out of sight, out of mind

Set aside 10-20% of every paycheck to automatically deposit in a savings account. Ideally, this account should not be linked to your checking account. 

2. Need vs. want

Keep a list of everything you feel you want or need. Then, review that list to determine what truly is a need versus what is a want. 

3. Tackle the top!

Pay off the highest-interest debt first once you have enough money saved. For example, credit cards carry an extremely high-interest rate – upwards of 20%. Then, add on fees and penalties for lack of payment and the total gets high quickly. 

You can find out more about Interfaith Family Services by visiting their website –interfaithdallas.org.

Editor's note: This story is part of WFAA's partnership with Interfaith Family Services.