Tips to reduce debt

Whether you are currently debt free (WAY TO GO!) or if you’re working toward that goal, here are a few tips that can help you reduce or eliminate debt.

Be ready for the unexpected. A car wreck could happen in an instant, and then you’d be responsible for car repairs and possible medical bills. If you’re not prepared with an emergency fund, you could end up in a tight spot. Make sure you start saving a little bit each month, so when those unexpected bills happen, you’ll be prepared.

Stick to your lists. Always make a list before you go shopping. Only buy what you intended to. Consider using online ordering with pick-up or home delivery. The few extra dollars you spend on that service could save you more than what you might have spent on the unintended purchases you might make when you walk through the store.

Take a good look at your current contracts and subscriptions. Are you paying for a gym membership, streaming service, cable, apps or games, etc. that you are just not using? Decide if you’re really getting any value from the service or subscription. If you think, “but I might use it one day…” then it’s probably time to let that one go. When “one day” comes, you can subscribe again. Until then, stop giving them your money.

For more financial tips, visit your local credit union. HealthNet Federal Credit Union has proudly served Baptist Memorial Health Care employees and the health care community throughout the Mid-South for more than 60 years.

For information about the credit union, please call 901-226-1111 or visit