Money Matters
Your Credit Union Newsletter
Whether you’re jetting off abroad or having a staycation near home, traveling with kids can certainly come with challenges. Here are a few tips to help you maximize your time together and have the most fun for the whole family this summer.
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There are a lot of monumental moments in parenthood. Beyond the first steps and the first day of school, you, as a parent, will be helping to navigate your child through their life. Your teen’s very first job is a big moment, too. Not only can they begin earning their own money but working for the first time will give them a sense of purpose and independence.
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A recent study found that people who automate saving toward their goals achieved a 73% increase in savings over people who didn’t. The bottom line: you’ll save more (and avoid temptation to spend) by automatically saving toward your goals each month.
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With inflation high and money tight for so many of us, there’s never been a better time to re-examine how we’re managing our finances and make some moves to save more.
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Airfare to air fryers. Thai food to tie clips. Memorabilia to memory foam. You can purchase just about anything these days with a buy now, pay later (BNPL) plan. In 2022 alone, consumers in the US bought around $250 billion in goods using BNPLs. The allure of making a small initial payment and splitting the remaining obligation into a series of automatic withdrawals is undeniable. The question remains: Is this a smart way to gain spending flexibility or a tool rife for accumulating bad debt?
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ome. While this will save you money, however, cooking every meal can be daunting for some people, unless you make a meal plan. Here are some tips for creating a successful plan to boost your financial (and personal) health.
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A recent headline in the Wall Street Journal went: “Mass Layoffs or Hiring Boom?” This curious title perfectly sums up the difficulty we are all facing: deciding where our economy is heading.
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When a major storm is headed your way, you prepare yourself. The same should be true for a recession. A growing consensus among economists is that the U.S. economy will enter a recession in 2023. These tend to go hand in hand with major stock market declines and unemployment.
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The Federal Reserve has committed to a policy of fiscal tightening by raising interest rates. According to Fed Chairman Powell “we still have some ways to go…we will stay the course [keep raising rates] until the job is done.” This leaves the economy on a knife edge. Raise rates too much, too fast and we fall into recession. Too little and prices continue to rise and eat up savings.
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Moving is rough and considered one of the most stressful experiences people can go through. That stress can intensify when moving thousands of miles across the country. You may need to move for work or family obligations, or maybe your company is making remote work permanent and you can live in an idyllic hideaway.
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