At TrustTexas Bank, we are dedicated to educating our customers. Visit our MoneyiQ Center – It is full of the knowledge you need to make smart decisions about how you spend, save and invest your money. Whether you are looking for information on banking topics, cybersecurity, or how to protect yourself from identity theft, you’re sure you find something useful in the MoneyiQ Center.
Below are links to resources that help with all levels of Financial Literacy.
Below are printable tools for you to use to manage your personal finances.
The following tips are designed to help you reduce your debt quickly and economically.
1. Create a Budget and Stick With It. Your budget should include all of your current expenses. Request a copy of the Personal Budget Planner for more information on creating a budget.
2. Don’t Borrow Additional Money to Pay off Debts or Bills.
3. Cut Expenses. Get this number by analyzing your budget and determining where reductions can be made (e.g., eating out, buying snacks and lunch at work, going to the movies, etc.). Once you have determined how much you plan to cut, use this “found” money to pay down the balances on your debts.
4. Optimize Your Monthly Payment. Pay the maximum amount towards your highest interest rate debts. Pay the minimum amount on all other debts.
5. Ask for Reduced Interest Rates. Some creditors, especially credit card companies, will reduce your interest rates if you just call and ask. If you receive offers for other credits cards with lower interest rates in the mail, use those offers as leverage when you are re-negotiating your rates with your current creditors.
6. Set Goals and Priorities. Determine what’s important. When you prepare to buy something ask yourself if this purchase is in line with the priorities you have set and will it help you reach your goal or delay it.
7. Check out this website. This site provides a free download Debt Reduction Calculator that allows you to determine the amounts you should be paying towards each of your debts and calculates the money you will save by paying your debts in the recommended order. Additionally, the program tells you when each of your debts will be paid off.
MyMoney.gov is a U.S. government site with quick, free tips to help you budget, save, spend wisely, and avoid
scams. It’s got tools for all ages and life stages—basically, a one-stop shop to not be broke.
The FDIC’s Money Smart program is a free, government-backed financial education initiative designed to help
individuals of all ages build essential money skills. It offers a variety of interactive tools, including games,
podcasts, and curricula tailored for different life stages—from young children to older adults. These resources
cover topics such as budgeting, saving, credit, and protecting against fraud.
Practical Money Skills is a free financial literacy platform developed by Visa to help individuals of all ages build
essential money skills. It offers a variety of interactive tools, including games, calculators, and lesson plans,
covering topics such as budgeting, saving, credit, and digital privacy. The program is available in 19 languages and
46 countries, making it accessible to a global audience. Families and individuals can utilize resources tailored to
different life stages.
A national non-profit network of 1,450 Member agencies designed to provide assistance to people dealing with
stressful financial situations. The site provides links and information for financial counseling, debt planner tools,
and other helpful websites.
Provides tips for financial fitness, understanding your income, managing your bank accounts, creating budgets,
and establishing savings. Features several helpful calculators, including a Savings Calculator and test to help you
gauge your current financial situation.