Money Matters

Your Credit Union Newsletter

Author Elyse Hahn

Financial Wellness
It Doesn’t Pay To Get A Payday Loan

There are any number of reasons you may need a short-term loan. When considering your options, there’s one loan you should approach with caution: a payday loan. A payday loan is typically a short-term, high-cost loan, generally of $500 or less, which you typically must pay back on your next payday. One reason people choose a payday loan is that, in many cases, no credit check is required.

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Farmers Agents
6 Reasons Now Is The Time To Buy Office Space

The interest rate roller coaster may finally drop this year. If you feel rates will decline soon, the time to begin taking action to buy office space is now. There is still abundant office space, with the U.S. vacancy rate hovering at 20 percent, motivating sellers to cut their losses and giving you more bargaining power.*

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Farmers Agents
The Business Benefits Of Addressing Employee Financial Stress

Inflation has increased the price of food, housing, and healthcare. Even those making six figures are living paycheck-to-paycheck. In a recent study, 80% of U.S. employees reported at least “some level of financial stress,” with 27% experiencing “high or overwhelming” stress.* As an agency owner, addressing employee financial stress can improve your team’s lives and dramatically impact your firm’s growth.

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Farmers Agents
3 Ways To Cut The Financial Fat So You Can Still Enjoy Life’s Little Luxuries

Inflation has hit all our wallets. The price of food, gas, and housing have risen significantly. And while the inflation rate has recently dropped slightly, we’ve all taken steps to make our money go further, including cutting many of life’s luxuries. From canceling streaming services to cutting out coffee from our favorite coffee house to not going out to eat, all are great ways to make your monthly budget stay in the plus column. Read more.

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Farmers Agents
Increase Your Financial Education To Lessen Financial Stress

Inflation has fallen dramatically over the past two years. While the current rate of 3.3% at the time of this writing is higher than the Fed’s goal of 2.0%, it’s a far cry from the 7% of December 2021.* While the recent drop is good news for many, with high gas prices and the continued climb of housing costs (up 5.4% over the previous year) and medical care, it’s little wonder many people are feeling stressed about their finances.** Research has found that 80% of workers report feeling financially stressed. With 27% experiencing “high or overwhelming” stress. Read more.

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