---
title: Boost Your Mood with a Solid Savings Plan
description: Keeping yourself out of debt could benefit more than just your finances.
image: https://go.hfcu.org/hubfs/images/blog_articles/win16_boost.jpg
---

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# Boost Your Mood with a Solid Savings Plan

** [MoneyWisdom Newsletter](https://go.hfcu.org/blog/author/moneywisdom-newsletter) ** Jan 07, 2016

![](https://go.hfcu.org/hubfs/images/blog_articles/win16_boost.jpg)

Keeping yourself out of debt could benefit more than just your finances. According to a study from the Center for Financial Security at the University of Wisconsin-Madison, a 10% increase in short-term debt, such as overdue bills and credit card debt, was linked to a 24% increase in symptoms of depression.

Here are a few solid tips on how to decrease your short-term debt, which might also improve your mental health:

- **Keep a record of everything you spend for a couple months.** Then look for expenses to trim, like nights out, a too-large cable package or a daily latte. Apply the savings to your debts.
- **Regularly contact your phone, utility and insurance companies to renegotiate your rates.** If you’re behind on payments, ask to set up a payment plan.
- **Use our Online Access HD for online bill payment.** Choose a date to pay – funds come out of your account the same day. Your bills will be paid on time and in full (or at least the minimum for credit cards). You’ll avoid late charges!
- **Pump up your savings.** Join our year-long automated savings program, [Your Way Savings](https://www.hfcu.org/bank/checking-accounts/your-way-accounts_and_services.html). With CU Thrive, you'll earn a great rate on as little as $5 to $500 automatically deposited from your checking account each month. 

 

*Download our free [Financial First Aid eGuide](https://go.hfcu.org/first-aid?_ga=2.224802845.649489784.1585309587-403457074.1585309587)! It'll walk you through the best ways to manage your money during uncertain times. We’ll show you how to take inventory and review all your expenses, assess your debts, prioritize bills and communicate with creditors, and so much more!*

 

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** [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance)

[**

 Save Money with a Free Credit Score Evaluation 

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 College Hunting? Don't Miss These Tips 

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### About Author

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MoneyWisdom Newsletter

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