Here are some simple rules to help you build a better financial future:

• Credit cards are just like a loan – you have to pay what you owe plus interest.
• If you only make minimum payments on your credit card, you may never pay off the debt. Try to set up a payment calendar and work toward paying off your balance.
• Write down how much you spend every week. This will help you develop a budget, but also identify ways to cut expenses and save money.
• Pay your bills on time and in full, if possible. If you mail your bills, you should do so at least five business days before the due date. This will help you avoid expensive – and unnecessary – late fees and other charges.
• Ideally, you should save some percentage (e.g., 5 percent) of your annual income for retirement, but no amount of savings is too small and it’s never too late to begin.
• When applying for a mortgage loan, your credit rating and how much you owe may be as important as how much you make.
• A checking account with your local community bank may help you save money by avoiding costly check cashing firms, and also by making it easier for you to itemize and budget.
• Checking accounts at your local community bank offer the convenience and security of direct deposits, as well as FDIC insurance.