Hiway Federal Credit Union provides money management advice on Twin Cities Live

ST. PAUL, MN (August 27, 2015) — In spite of just signing a $3.6 million contract with the Detroit Lions, wide receiver Ryan Broyles has decided that his family will live on a $60,000 a year budget. He has no intention of following the path of many professional sports players who file bankruptcy.

Bill Wagner from Hiway Federal Credit Union says tracking your income is key. He shares his advice to keep money management under control.

Saving money should be considered a habit. Even if you see a coupon, remember that “spending is never saving.” Bill recommends to ways to save – with a savings account and with share certificates (known as a CD). In a savings account, the money is fluid, meaning you can pull it out for emergencies. In a share certificate, you would receive a penalty if the money is pulled out early. Share certificates earn you more money than a savings account.

According to, 62% of Americans have no emergency savings. Bill suggests you should have three to six months of income in an emergency account. Look at your loans and investments once a year and renegotiate them. Determine if you can pay less for certain services. Think about negotiating recurring payments like your cell phone or home service plans. Look at your discretionary expenses to see where you might be able to cut back.

Hiway Federal Credit Union has a feature called “Money Tracker.” See all of your assets, loans, and accounts in one secure spot. They can also alert you via email and texts when you use the ATM, pay a bill, or when someone accesses your account.

About Hiway Credit Union

Hiway Credit Union was founded in 1931 to serve the employees of the Minnesota Highway Department. Today, Hiway serves an expanded member base, with over 90,000 members in Minnesota and nationwide, registers $1.7 billion+ in assets and welcomes new membership from individuals and businesses. Hiway offers its members unparalleled service and value “on the road of life” through lower loan rates, higher savings rates, and fewer and lower fees. Hiway also operates four high school branches at Como, Harding, Highland and Johnson High Schools in St. Paul. For more information about Hiway, visit


Kent​ Wipf
Senior Community Engagement Specialist, Public Relations
651.291.1515 ext. 8249 | 800.899.5626

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