Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.
Colorado Credit Union

Financial Tools

Here at Colorado Credit Union, we value financial education and awareness. We have provided useful financial tools to utilize which includes different financial calculators, coaches and other articles and activities. We hope you find these tools helpful.  
 
Budget Starting Points:

Your budget is your blueprint for keeping cash flow positive, and for sticking to your saving goals. Even if you and your partner will be paying for expenses separately, it's essential to have one overall household budget. That big picture is indispensable for having a good sense, based on actual numbers, of where the two of you stand financially, and how you plan to stay on track throughout the year. Remember a budget is there to help you, and its not written in stone. Create a spreadsheet, or use an app, to list all your anticipated monthly expenses. It can be helpful to divide them by how frequently they occur.

 
Budget Calculator: 
 
Budget Calculator
Insert your monthly income and your monthly and yearly expenses to find out your net monthly and yearly income.
        Budget
$1,835
Monthly Savings
$22,020
Yearly Savings
 
Fixed v. Variable Expenses:

For the fixed expenses, such as rent or phone, it's easy to fill in the exact amount you know you'll have to spend. On the other hand, with the variable expenses, like groceries, there is no single exact amount. But based on what you know you spend, you should be able to estimate a fairly accurate number for most weeks. The next step is to compare your income to your expenses. In order to achieve (and maintain) a positive cash flow, you may have to adjust some of the variable expenses—which probably means cutting back or cutting some of them out altogether. You can go back to the answers you and your partner gave when you had the conversation about what kinds of expenses would be the easiest, and the most difficult to forego. You should revisit your budget on a regular basis. Remember, it's there to help you both, and it's not written in stone. Adjusting it if your overall household income changes is important. Check out this budget coach to walk you through the budgeting experience. 

 

Budget Coach:

Banzai Coach Session • 5 minutes
Create a Budget
  1. Create a budget that fits your lifestyle.
  2. Discover the importance of giving every dollar a job.
  3. See how to reduce spending for specific expenses.
A part of budgeting, is saving. A simple, practical rule of thumb for individuals who want a budget that is easy to implement is utilizing the 50/30/20 rule. Play with the 50/30/20 calculator to see how much you can save. 
 
50/30/20 Calculator:
 
50/30/20 Calculator
Enter your monthly after-tax income below to see how the rule applies to you.
$0
Needs (50%)
$0
Wants (30%)
$0
Savings (20%)
 
 Now that you've mastered how to budget and save with the 50/30/20 rule, how much can you save in a year? Check out the savings calculator below to see how much you can save over a certain period of time while earning interest. 
 
Savings Calculator: 
 
How Much Can You Save?
Adjust the inputs to see how much your monthly savings contributions will grow with interest.
Savings
 0123456789101112131415161718192021222324252627282930$0$20,000$40,000$66,000                                                              
Years
$23,225.03
Interest Earned
$64,225
Total Saved
 
With a CCU Money Market account, you will enjoy extra earnings of higher yields. A minimum opening deposit of $2,500 is required for this account. Dividends are computed each month and are calculated on your daily account balance and paid monthly. There are some transaction limitations for this account in order to maximize earnings on deposit. Check out how much you could be earning and saving with the Money Market Calculator.
 
Money Market Calculator:
 
Money Market Account Calculator
Adjust the inputs to see how much your savings in a money market account grow over time.
Balance
 012345678910$0$4,500$9,000$13,500$18,000                                 
Years
$16,020.59
Total Balance
$1,520.59
Interest Earned
$14,500.00
Total Contributions
 
If you have enjoyed these useful financial resources, check out our library of Financial Tools and resources, completely FREE to our members.