BECOME A MEMBER
  • Become A Member
  • Contact Us
  • Login
  • Become A Member
  • Contact Us
  • Login
Camino Federal Credit Union new logo - See the New Look - New Logo Camino Federal Credit Union new logo - See the New Look - New Logo
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Share Certificate Promotion
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto
      • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Share Certificate Promotion
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto
      • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
Camino Federal Credit Union
Login
  • Accounts
    • Checking
      • Elite Checking
      • Everyday Checking
      • Student Checking
      • Teen Checking
      • Digital Wallet
      • Apple Watch
      • Switch Kit
    • Savings
      • Membership Savings
      • Money Market Account
      • Certificate Accounts
      • Share Certificate Promotion
      • Individual Retirement Accounts (IRAs)
      • Summer Salary Savings
      • Christmas Club
      • Student Savings
      • Children’s Savings
      • Switch Kit
    • Credit Cards
      • Visa® Platinum with Rewards
      • Visa® Platinum with Low Variable Rate
      • Getting Started Visa®
      • Visa® Share-Secure
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • Loans
    • Auto
      • Auto Loans
      • Nearly New Auto Refinancing
      • New & Used Auto Loans
      • First Time Auto Loan Program
      • Second Chance Auto Loan Program
      • Lease Buy Out
      • Recreational Vehicle Loans
      • Motorcycle Loans
    • Personal
      • Credit Cards
        • Visa® Platinum with Rewards
        • Visa® Platinum with Low Variable Rate
        • Getting Started Visa®
        • Visa® Share-Secure
      • Share-Secure Loans
      • Personal Loans
      • Debt Consolidation Loans
      • Line of Credit
      • Furlough Loans
      • Smart Option Student Loan
    • Home Equity
      • Home Equity Loans
      • Home Equity Lines of Credit
    • Mortgages
      • Home Mortgages
      • Mortgages for Investment Properties
    • Rates
      • Auto Loans Rates
      • Credit Cards Rates
      • Bank Account Rates
      • General Loans Rates
      • Home Loans Rates
  • Services
    • Online/Mobile Banking
      • Online Banking
      • Mobile Banking
      • Bill Pay & PopMoney
      • eStatements
      • Text Banking
      • Forms and Documents
    • Services
      • Surcharge-Free ATM Network
      • Shared Branching
      • Insurance Options from TruStage
      • Auto Buying Services
      • Telephone Banking
      • Additional Services
    • Lost or Stolen Card
    • Camino Workshop Series
    • Repay
    • Rates
      • Auto Loans Rates
      • Bank Account Rates
      • Credit Cards Rates
      • General Loans Rates
      • Home Loans Rates
  • About
    • About Camino
    • Become a Member
    • Community and Events
    • Location
    • Holiday Schedule
    • Careers
    • News
    • Advisor Appointment Center
    • Contact Us
  • Blog
6 Jul 2021

3 Ways to Reduce Your Costs this Summer

by kwsm | posted in: Blog, Financial Tips | 0

Half of 2021 has already come and gone, which means it’s the perfect time to check in on your finances. If you’ve noticed that you could benefit from cutting back on expenses in some areas of your financial life, we’ve compiled a list of three ways you could consider reducing your costs this summer.

A person pulls a dollar out of his open wallet.
Reducing your costs this summer doesn’t have to be complicated, there are a few simple things you can implement today to reduce your costs all season.

Reduce Your Costs by Refinancing Your Mortgage

If you are a homeowner, you likely have a 30-year fixed or adjustable-rate mortgage. There’s a chance that the current rates or term lengths available from lenders are more favorable now than when you originally signed your mortgage. If this is the case and you find a lender with a lower mortgage interest rate than the mortgage you currently have, you could reduce your costs by refinancing your mortgage. This will likely be reflected in both long and short-term savings. Typically when you can refinance your mortgage for a lower interest rate, the monthly payment will become lower, and the total interest paid back over time will be less. 

 

Reduce Your Costs by Carpooling or Car Sharing 

Typically in the summer months, gas prices for vehicles rise, and this year is no exception. To save money every month and at the gas pump, you could reduce your costs by carpooling. This means that when you travel somewhere, you travel in the same vehicle with someone else also going to that destination and split the cost of gas. As an added bonus, this is better for the environment as well as it cuts down the number of vehicles on the road. 

 

Another great option to reduce your costs for transportation is to utilize car sharing, even within your immediate household. This means that instead of having multiple vehicles with multiple auto loans, your household invests in one reliable vehicle to share so that your entire household just has one monthly auto loan payment and one vehicle to pay to upkeep. 

 

Reduce Your Costs by Eliminating Unnecessary Monthly Expenses 

Some monthly expenses, like your housing payment and electricity bill, are unavoidable. However, if you review your monthly banking statements, it’s likely that some expenses could be discretionary An easy way to reduce your costs this summer  is to review your credit card and bank statements and see what you can live without. 

 

This can be as simple as identifying that you are paying to eat out too much or that you have monthly subscriptions that you have forgotten about and don’t get your money’s worth of use from. 

 

Choosing to reduce your costs now can possibly lead to long-term savings, which can be put to use in your savings account, retirement savings, investment accounts, or in other areas of your life. 

 

Do you need help managing your finances? Let us know!

It can be challenging to balance your savings, loans, and other accounts all in one place. However, we offer many ways to help manage your finances at Camino Federal Credit Union through online banking, and mobile banking app. Please give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us online at caminofcu.org for more information.

bank statement, camino credit union, Camino FCU, Camino FCU East LA, Camino FCU Montebello, Camino Federal Credit Union, camino member, credit card statement, credit union, Credit Union East LA, Credit Union Los Angeles, credit union Montebello, Federal Credit Union East La, Federal Credit Union Montebello, financial planning, mortgage refinancing, reduce your costs, refinancing, save money, summer salary savings account

Categories

  • Blog
  • Financial Tips
  • In the Community
  • News & Events
  • Our Culture
  • Promotion
  • Uncategorized

Camino Federal Credit Union new logo - See the New Look - New Logo

Montebello Branch

520 N Taylor Ave
Montebello, CA 90640
(323) 722-3400

 

Support

Consumer Protection

Lost or Stolen Card

Check Loan Status

Member Service

(800) 835-3400
Contact Us

Connect With Us

Equal Housing Lender
Equal Housing Lender
National Credit Union Administration
National Credit Union Administration
© 2022 - All rights reserved - Federally insured by NCUA, Equal Housing Lender     Disclosures Privacy Policy
If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-835-3400 for assistance.
Also, all products, services and information available on this website are also available at any of our physical branches, where we would be happy to assist you further.
We use cookies to personalize content and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.OKNoPrivacy policy
We use cookies to personalize content and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.OKNoPrivacy policy