Start the New Year off right with Navy Federal Credit Union

Take control of your financial future.
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The Christmas trees are (mostly) dried out, the Hanukkah Menorahs have been put away, and the New Year’s fireworks have all been shot. Another year is upon us, and as we look toward a brighter future, embracing financial planning as a New Year’s resolution is a must. 

Navy Federal Credit Union has been helping service members and their families with financial tools, advice, and more for over 90 years. Below are a few simple (but extremely important) tips to get you started down the right path at the beginning of this new year.

Make a realistic budget

As anyone who’s ever tried to plan out their finances knows, making a budget is easy. Sticking to it is the real challenge. All your carefully laid plans could go out the window the first time you’re hit with an emergency expense that completely upends all those good intentions.

However, keeping your budget realistic will still help minimize the pain unforeseen expenditures can cause when they inevitably arise. It starts by being honest with yourself. If you can’t live without that $6 breakfast sandwich each morning from your local greasy spoon, no worries, just be sure to account for the amount that’s going to tack on each month. You’d be surprised how fast little things like that can add up to a large outflow of cash. One of the biggest mistakes people make when crafting a budget is not being realistic about what their money is going toward. If you’re spending on anything each month with regularity, then it should be tracked and accounted for. It may sound dull, but living within your means will allow you to accrue wealth when you’re young so you can enjoy the fruits of your labor when you’re older. 

Save whenever possible

Along with your budget, you should make an allotment each month for some type of savings account, whether it’s a mutual fund, a Thrift Savings Plan or just a savings account labeled “emergency funds.” The more you’re able to put away, the less fluctuation your budget will have when something unexpected occurs. Spending all that time making an accurate budget is wasted if the first financial setback can completely derail your well-laid plans. Navy Federal Credit Union offers a variety of savings options with competitive rates of return so you can put your money to work even when it’s just sitting around to offset emergencies. 

Consolidate your debt with a balance transfer

No one is perfect. Expenses happen. Life happens. Credit cards can be useful for unplanned expenses. Unfortunately, if your charges accrue too quickly, it can be a struggle to dig yourself out of the debt you’ve created, all while paying interest rates on your card, or cards. One approach to handling this situation is to transfer all the debt and exorbitant charges onto a single card with a more manageable interest rate. Navy Federal Credit Union has been helping servicemembers do this for years, offering competitive introductory rates often with very little APR for the first 12 months to qualifying applicants. That means if you’re able to pay off a little more each month in the first year you could make a serious dent in your debt. 

There are multiple card options available as well—click the links below for more information.

cashRewards and cashRewards Plus cards give members a 0% intro APR for 12 months from account opening on balance transfers made within your first 60 days. After that, a variable APR between 14.90% and 18% applies1 & $250 cash back when you spend $2,500 within 90 days of account opening.2

Navy Federal More Rewards American Express® Card will score you 20,000 bonus points when you spend $2,000 within your first 90 days of account opening, as well as 0% intro APR for 12 months from account opening on non-Navy Federal balances transferred within your first 60 days. After that, a variable APR between 14.90% and 18% applies.3

Platinum also provides 0% intro APR for 12 months from account opening on non-Navy Federal balances transferred within your first 60 days. After that, a variable APR between 11.24 % and 18% applies.4

Unlike most banks, Navy Federal will not charge fees for credit card balance transfers either. Here’s a handy calculator to help you understand the savings possible by adjusting various rates and payment options. 

Increase Your Credit Score

No one is perfect. Expenses happen. Think of your credit score as a stand-in for you that lenders look at when deciding whether to issue you a loan (car, home, mortgage, etc). The higher the better, and the more likely you are to get a lower rate, since the lenders are more likely to get their money back. 

A poor credit rating is 300–579 (out of 850). Anything over 800 is excellent.

If your score isn’t the best, don’t worry. NFCU offers its members great resources on how to increase your credit rating, like making regular payments and lowering your credit utilization. 

The earlier in life you can establish good financial habits, the easier and more enjoyable your life can be as you get older. Let Navy Federal help you get on the right track now.

This article is sponsored by Navy Federal Credit Union. Navy Federal Credit Union is federally insured by NCUA.


1 As of 02/03/2025, rates range from 14.90% APR to 18.00% APR, are based on creditworthiness, and will vary with the market based on the US Prime Rate. ATM cash advance fees: None, if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. Balance transfer offer: Application must be submitted by 3/31/2025. Offer valid for balances transferred from non-Navy Federal credit cards within 60 days of account opening. Balance transfers are not eligible to earn rewards. Maximum total transfer amount is limited to your available credit line. Balance transfers using convenience checks are excluded from this offer. If you transfer a balance with this offer, interest will be charged on purchases made with your credit card unless your purchases have a 0% APR, or you pay the entire balance, including any transferred balances, in full each month by the payment due date. Limit of one promotional offer at account opening. Navy Federal reserves the right to change or end this offer at any time without notice.

2 Offer valid for cardholders issued new cashRewards or cashRewards Plus credit card accounts. To be eligible for the $250 cash back, you must make $2,500 or more in net purchases within 90 days of account opening. Rewards are earned on eligible net purchases. “Net purchases” means the sum of your eligible purchase transactions minus returns and refunds. Eligible purchase transactions do not include, and rewards are not earned for, the following transactions: cash advances, convenience checks, balance transfers, gambling, or fees of any kind, including finance charges, late fees, returned check fees, ATM cash advance fees, and annual fees, if any. Cash-equivalent transactions, such as the purchase, loading, or reloading of gift and prepaid cards (e.g., money orders, GO Prepaid Cards, and other cash­equivalent gift cards), may not be eligible purchase transactions and may not earn rewards. Please allow up to 8 weeks after the 90-day period for the $250 to post to your rewards balance. Account must be open and not in default at the time the $250 is scheduled to post to your rewards balance. Limit of one promotional offer at account opening. Offer valid for accounts applied for between 1/2/2025 and 3/31/2025. Navy Federal reserves the right to change or end this offer at any time without notice.

3 Offer valid for cardholders issued new Navy Federal More Rewards American Express® Card accounts. To be eligible for the 20,000 points offer, you must make$2,000 or more in net purchases within 90 days of account opening. Rewards are earned on eligible net purchases. “Net purchases” means the sum of your eligible purchase transactions minus returns and refunds. Eligible purchase transactions do not include, and rewards are not earned for, the following transactions: cash advances, convenience checks, balance transfers, gambling, or fees of any kind, including finance charges, late fees, returned check fees, and ATM cash advance fees. Cash-equivalent transactions, such as the purchase, loading, or reloading of gift and prepaid cards (e.g., money orders, GO Prepaid Cards, and other cash-equivalent gift cards), may not be eligible purchase transactions and may not earn rewards. Please allow up to 8 weeks after the 90-day period for the 20,000 points to post to your rewards balance. Account must be open and not in default at the time the 20,000 points are scheduled to post to your rewards balance. Limit of one promotional offer at account opening. Offer valid for accounts applied for between 1/2/2025 and 3/31/2025. Navy Federal reserves the right to change or end this offer at any time without notice.

4 As of 02/03/2025, rates range from 11.99% APR to 18.00% APR, are based on creditworthiness, and will vary with the market based on the US Prime Rate. ATM cash advance fees: None, if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. Balance transfer offer: Application must be submitted by 3/31/2025. Offer valid for balances transferred from non-Navy Federal credit cards within 60 days of account opening. Balance transfers are not eligible to earn rewards. Maximum total transfer amount is limited to your available credit line. Balance transfers using convenience checks are excluded from this offer. If you transfer a balance with this offer, interest will be charged on purchases made with your credit card unless your purchases have a 0% APR, or you pay the entire balance, including any transferred balances, in full each month by the payment due date. Limit of one promotional offer at account opening. Navy Federal reserves the right to change or end this offer at any time without notice.

The Navy Federal More Rewards American Express® Card is issued and administered by Navy Federal Credit Union. American Express is a federally registered service mark of American Express and is used by the issuer pursuant to a license.

This content is intended to provide general information and shouldn’t be considered legal, tax or financial advice. It’s always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.

Justin Burgess Avatar

Justin Burgess

Contributing Writer

Justin Burgess joined the Army in 2006 as an infantry officer and served two combat tours in Afghanistan and one in Iraq. He left the military in 2016 to learn what it was like to be a civilian. Since then Justin has published several novels and hundreds of articles for The Duffel Blog. When not writing or busy with his day job he likes to hunt and hike the North Georgia mountains.