Money Management & Credit Building

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Take Control of Your Financial Journey!

At Texas Bay, we believe that financial freedom starts with having a solid financial base.


Two essential building blocks for starting your financial journey on the right foot are proper money management and building and maintaining an good credit score. As your financial partner we are excited to share tips on Money Management and Credit Building with you to assist you on becoming another step closer to your financial dreams.

How do you ensure you have money for the things you need and want?

One word: Budget.

It's the most powerful tool you can use on your journey to financial freedom. You might be saying to yourself, "I'm doing okay right now. I can pay my bills on time," or "I don't have enough money left over at the end of a month to even think about saving or creating a budget." You might feel like your goals are too overwhelming, or you just can't make any drastic changes to your lifestyle right now.

Most of us have had those thoughts, but if you create a thorough enough budget and hold yourself accountable to the budget you created, you can reach the financial freedom you're dreaming of! With some DISCIPLINE it's simpler than you think!

The number one rule when budgeting is, your income needs to be more than your expenses. You can't spend what you don't have!

So how do you begin to create a budget?
  •  Find what tracking tool works for you to create and track your budget...
    • Spreadsheet
    • Online tools
    • Financial Management tools such as apps on your phone. Texas Bay is happy to offer you a financial management tool in the new Mobile Banking app, that is already linked to your accounts at Texas Bay and allow you to track your budget 24/7.
  •  Start with entering your income and consider all sources, but only count your base income so you won't face surprises.
  • Now tackle your expenses! Don't just focus on your monthly bills, but take into account all the places your money goes.
    • Utilize your online account system to review all your transactions and ensure you are counting everything for the month
  • After all of your income and expenses are plugged into your budgeting tool, take a look at the outcome.
    • Is your income higher than your expenses? If you answered "Yes," that's great! However, if you answered "No," don't worry! Here are some tools to turn that around!
  • Take a look at where your money is going and let's categorize them into one of these four areas: Reduce, Substitute, Postpone, and Forego...
    • Reduce: Determine where you can lower the number of purchases. For example: Maybe eat out only 2 days a week instead of 4.
    • Substitute: Look at what small adjustments in spending you could make to substitute for the cheaper option. Maybe brew coffee at home instead of going to the coffee shop in the morning.
    • Postpone: Assess which purchases are essential. If the purchase isn't absolutely necessary, can it wait another month or so?
    • Forego: Look at some of those impulse purchases. Could some purchases be eliminated altogether? 

The hardest part of budgeting is just getting started, but think of the satisfaction you will enjoy once it's completed and the freedom you will feel when you have your plan. It will all be worth it! This is just the beginning, though. Check out our video to learn more about creating a budget and then visit with one of our Financial Representatives at any of our 9 locations for more coaching and assistance on establishing your budget. 


Credit scores plays an essential role in many areas of your financial life. Your score determines more than just the loans you are eligible to receive and the interest rate you will pay, but landlords also use this score to determine who gets to rent their home or apartments. Did you know insurance companies use your credit score to set premiums for your insurance coverage? Did you also know your credit score can impact your cell phone plan and utilities? 

Would you believe that Texas Bay offers Free Credit Enhancement services!? As your financial partner, we are here to assist you through the process of building your credit. Contact us today to begin working with our experienced coaches to achieve that credit goal you've been striving for!


Join some of Texas Bay's very best financial coaches as they share tips on:

  • Creating a budget
  • How your credit can affect your financial journey and what to watch out for
  • Understanding your debt
  • To buying a car and sticking with a budget
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