Submit Content

Cents of Community: Managing and Paying Down Your Debt

This monthly column comes from the Arlington Community Federal Credit Union as part of their mission to financially empower the community. Credit unions are not-for-profit member-owned cooperatives and anyone who lives, works, worships, volunteers, goes to school, or does business in Arlington, Falls Church, Alexandria, or Fairfax County is eligible to join ACFCU.*

During this challenging time for our community, many have taken on debt to support themselves and their family. Here are tips for managing and paying down debt:

  • Understand your household expenses: Make a list of your fixed expenses such as rent or mortgage, utilities and loan payments. Add the due dates to your calendar to pay on time and set up autopay options when possible.
  • Prioritize your debts: Make at least the minimum payments on all of your debts. Use any extra funds to pay down debts with the highest interest rate (usually credit cards). Every little bit makes a difference and will help you save money on interest.
  • Set spending limits: It’s easy to overspend when you don’t set boundaries. Once you’re clear on how much is coming in and going out, set spending limits.
  • Put your credit cards away: Sometimes, the key to preventing excessive debt is making it difficult to use your credit cards. Consider locking away your highest interest credit cards and moving a debit card or lower interest credit card to the top of your wallet.
  • Shop for the best rates: Compare rates both when you are taking on and managing debt. Look for lower interest options and ask your financial institution to match the lower rate offered to you. You can also explore refinancing high interest debt.
  • Build up your emergency savings account: Build your emergency savings account with a goal of saving three to six months’ worth of expenses. Having a savings buffer will reduce your need to take on additional debt later.

We are proud to be part of this resilient community. As Arlington’s credit union, we support our members throughout their financial journey and are here to support our neighbors as they explore options for financial success.

*Membership eligibility requirements apply. Federally insured by NCUA.

Recent Stories

A man who was charged with a hate crime after allegedly shoving a restaurant employee in Crystal City and refusing to pay for his meal pled guilty to a lesser…

Many myths surround car maintenance and repair but CarCare To Go is here to debunk them and provide simplicity to car repair.

A new survey shows that a majority of Arlingtonians are satisfied with public transit, but their levels of satisfaction vary by geography. Mobility Lab, a division of Arlington County Commuter…

The work of Latin American entrepreneurs and how their cultures have inspired them is highlighted during Hispanic Heritage Month.

INF Care Virtual Concierge is a new and inviting option to remote assistance that leverages the best of what technology should encompass with quality interaction.

For the busy individual that needs a way to reduce stress and tackle caring for an older family member that lives alone.


For the maturing adult that just needs help with everyday tedious tasks, connectivity, and access to data on their everyday habits to pinpoint areas that need more attention.

Read More

Submit your own Community Post here.

Looking for a more convenient way to work out?

On the Go Fitness Pro offers in home personal training. We bring the gym to you, so you can save time and skip the hassle of going to the gym. Plus, our trainers are certified and experienced, so you can be sure you’re getting the best possible workout.

We provide all the equipment needed for a great workout or we can use the equipment that you have.

Schedule a free consultation today and see how we can help you achieve your fitness goals.

Read More

Submit your own Community Post here.

Mini Photo Sessions for Family & Pets

Mini Family & Pet Photo Sessions
Beat the rush and sign up to get your holiday photos now!

Bring your kids! Bring your dogs!

Check out the DeSilva Studios website. Look at the images and see if you like them

Vini Franchetti Wine Dinner

Join us as we explore Vini Franchetti & their two sister vineyards Passopisciaro (Sicily) and Vini Franchetti (Tuscany) for our Sicily/Tuscany Wine Dinner!

Sunday, Oct 9 @ 6pm

Special Guest: This wine dinner we will be hosting the wine maker


Subscribe to our mailing list