Close this search box.

Navigating Your 2021 Finances

Getting through financial stress

If your finances were thrown for a loop in 2020, you are not alone. Unemployment numbers hit all-time highs in 2020, and many of those who were able to retain their jobs saw their work hours were cut. It’s easy to feel the financial pinch and stress over the uncertainty of today, but LCCU is here for you!

Not only does LCCU offer loans and refinance options to help you save money and get through tough financial times, but we have free money management tools through GreenPath Financial Wellness even offers FREE one-on-one support with professional financial counselors!

To get the new year started off right, here are a few tips if you’ve experienced an interruption or loss of income:

Review Your Budget and Prioritize Expense

Identify all your income sources and assets, like savings accounts, that you can use until you resume working. Review expenses and eliminate the things you can live without. Reduce essential expenses and talk to LCCU about consolidating loans or lowering interest rates.

Prioritize Bill Payments

If you’re struggling to pay your bills even after eliminating expenses, GreenPath recommends prioritizing bill payments in this order:

  1. Food, Medicine, Childcare
  2. Housing
  3. Utilities
  4. Auto
  5. Child Support
  6. Income Taxes
  7. Unsecured Debt (Loans or Credit Cards)

Make a Plan for Using Your Savings Account

Look into using “liquid” accounts such as savings accounts first, before drawing on investment or retirement accounts that have fees or penalties for early withdrawals. Consider whether using a credit card or a loan is a better option. Make a plan for repaying yourself once your income begins flowing again.

Many companies and lenders have responded to the pandemic with more flexible payment options. If you find yourself in need of an extension, contact the company or creditor before your bill is due and ask about what options you may have.

Talk to a Financial Counselor

GreenPath’s counselors provide confidential advice and can help you make a plan to get through a financial crisis. They will walk you through your whole financial picture and offer assistance for making a budget, prioritizing and creating a plan to get through this.

More information about money management can be found at, or you can call GreenPath Financial Wellness at 877-337-3399 to set up a free consultation. We are also always happy to assist you. Give LCCU a call at 208-746-7233 and we’ll help you plan and achieve your financial goals because our focus really is your future!