Financial Education Resources for Adults
Here are some helpful resources to teach you about credit scores, budgeting, home buying and retirement planning.
Are you a Saver, Spender, Planner, or Avoider?
Find Your Money Style?
Knowing your money style is important because it helps you understand why you spend, save, or avoid money decisions the way you do — and that insight is key to making smarter financial choices.
Here’s why it matters:
1. Improves Self-Awareness — Once you recognize your patterns (like impulsive spending or obsessive saving), you can make more intentional choices.
2. Reduces Financial Stress — When you know how you naturally handle money, you can plan in a way that works with your instincts—not against them. That can help reduce guilt, confusion, and frustration around budgeting or saving.
3. Helps You Set Better Goals — Different money styles are motivated by different things. A planner might thrive with long-term savings goals, while a spender may need short-term incentives to stay on track. Understanding your style lets you set goals you’ll actually stick to.
4. Strengthens Relationships — Money is one of the biggest sources of tension in relationships. Knowing your style—and your partner’s—can help you understand each other’s decisions, communicate better, and build a financial plan that works for both of you.
5. Encourages Growth — You’re not “stuck” in your style. Once you know it, you can build on your strengths and work on your weaknesses. For example, if you tend to avoid money matters, small steps like checking your account weekly can boost your confidence and control.
Budgeting & Setting Goals
Budgeting doesn’t have to be overwhelming or high-tech. In fact, keeping it simple is often the best way to stay on track. Here are four minimalist steps to help you start:
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Use Multiple Accounts
Create separate accounts for categories like bills, savings, and fun. It helps you organize your money and reduce the temptation to overspend. MCU offers Secondary Savings Accounts that you can rename however you like, as well as Vacation and Christmas Club accounts to make saving even easier. -
Set a Guilt-Free Spending Limit
Give yourself a set amount each month to spend on whatever you want. Think of it as your monthly “fun money” allowance. -
Follow the 50/30/20 Rule
Start with your take-home pay:-
50% for needs (bills, groceries, lodging)
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30% for wants (clothes, entertainment)
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20% for savings or debt repayment
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Stay Goal-Focused
Know what you’re working toward—whether it’s a vacation, a new home, or early retirement. Keep your goals visible to stay motivated.
Ready to get started?
Want more detail? Read the full blog post ›
Building Strong Credit
Your credit score plays a big role in your financial life — from loan approvals and interest rates to insurance and rental applications. Keeping it healthy doesn’t have to be complicated. Here are a few key ways to boost and protect your score:
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Pay your bills on time – Your payment history is one of the most important parts of your credit score.
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Keep credit card balances low – Try to use less than 30% of your available credit.
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Limit new credit inquiries – Opening too many accounts at once can temporarily lower your score.
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Review your credit reports regularly – Spot and dispute any errors early. You can get free credit reports from each of the three credit bureaus (Experian, Transunion, Equifax) or order them at: annualcreditreport.com.
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Keep older accounts open – The age of your credit history also helps your score.
Credit health takes time, but small steps can lead to big improvements.
Read more: 7 Tips for a Healthy Credit Score.
Planning for Retirement
Planning for retirement doesn’t have to be overwhelming. Whether you’re just getting started or nearing your golden years, our retirement resources can help you set goals, understand your options, and make confident decisions for your future. From IRAs to budgeting for life after work, we’re here to guide you every step of the way.
Planning Ahead: Building for the Future
When retirement seems far off, it’s easy to put it on the back burner. But starting now gives you more options and less stress later.
Steps to Get Started:
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Begin where you are. Even small contributions to a 401(k), IRA, or savings account. Even small, regular contributions can grow over time.
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Understand your options:
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401(k): Or employer-sponsored plans generally come with employer matching contributions — that’s free money, so take full advantage!
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Traditional IRA: Contribute pre-tax dollars and pay taxes later.
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Roth IRA: Pay taxes now, but enjoy tax-free withdrawals in retirement.
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Use a retirement calculator to estimate how much you’ll need. Try this one from NerdWallet.
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Increase contributions over time — even 1% more per year can make a big impact. Or every time you get a raise, give your contribution amount a bump too!
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Stay motivated with clear goals. Whether it’s retiring early, traveling, or simply relaxing, knowing your “why” makes saving easier.
📄 Helpful Tools
Nearing Retirement: Making the Transition
If you’re 5–10 years from retirement, it’s time to shift from saving to strategizing. Your focus should be on how to turn your savings into reliable income.
Key Things to Consider:
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Create a retirement budget. Estimate your monthly expenses and how they might change.
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Know your withdrawal strategy:
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The 4% rule suggests withdrawing 4% of your savings in the first year, adjusting for inflation each year.
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Be flexible — withdrawing less in market downturns can help your savings last longer.
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Plan the withdrawal order:
Generally:-
Taxable accounts (e.g., brokerage)
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Tax-deferred (e.g., 401(k), Traditional IRA)
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Tax-free (e.g., Roth IRA)
This can help reduce the taxes you pay over time.
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Be aware of Required Minimum Distributions (RMDs):
Starting at age 73, you must begin taking minimum withdrawals from certain accounts like Traditional IRAs or 401(k)s. -
Think about lifestyle:
Retirement isn’t just financial — what will bring you joy and purpose in your next chapter?
📄 Helpful Tools
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Read: How Much Can You Safely Withdraw in Retirement? (BalancePro.org)
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Read more from the IRS on Required Minimum Distributions (RMDs) – Know when and how much you need to remove from different retirement accounts.
- Schedule a financial consultation with Madison Credit Union
Additional Retirement Articles
Pre-Retirees: Avoid These 5 Real Estate Mistakes Getting ready to retire? Thinking about downsizing, refinancing or buying a second property? Read these 5 real estate mistakes to avoid first.
How to choose a retirement plan that works for you. This article includes all the ins and outs of a 401(k), IRA and Roth IRA.
Financial Literacy Webinars
Check out upcoming webinars and previously recorded webinars from industry leading experts in: Cyber Security, Estate Planning, Home Buying Guide, Investing, and Retirement Planning.
Play the Money Game
Looking for an interactive way to learn and flex your financial muscles? Play the FDIC’s Money Game. Click one of the topics below to get started.
Balance Financial Counseling
As an MCU member you have access to free financial counseling through BALANCE. Get personalized budgeting help, review your credit report, prepare for buying a home, obtain identity theft solutions and more.
Just tell them Madison Credit Union sent you!
BALANCE is a trusted financial counseling institution with over 45 years promoting financial wellness.
Click here to visit the BALANCE page or call now to get started: 888-456-2227.
Here are a few more financial tip articles. Click here to see a full list of Financial Education Blog Posts.
