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Money Matters

Your Credit Union Newsletter

Money Matters by Farmers Insurance Federal Credit Union
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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Credit Union News Money Matters by FIGFCU - CEO Message
Message From Our CEO

Summer’s here, and in addition to longer days, vacations, and barbecues, this also means the holiday season is just around the corner. I’m only half joking. The pace of life is so hectic that before we realize it, the New Year’s Eve ball will drop in Times Square. According to one large study, the average American is so busy that they have under five hours of free time for themselves a week. I know the feeling. The study also found that six in ten of us regularly put off basic tasks like cleaning and banking for lack of time. Read more now.

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Financial Wellness
3 Ways To Use Interest Rates To Lower Your Household Debt

According to the Federal Reserve Bank of New York, total household debt rose by $184 billion to hit more than $17 trillion in the first quarter of 2024. Balances on auto loans increased $9 billion to $1.62 trillion. And while credit card balances fell in the first quarter, which is common after the end-of-year holidays, nearly 9% of credit card balances moved into delinquency.*

As troubling as these figures are, what most of us care about is our level of debt and how to bring it under control. Managing how much interest you’re paying plays a significant role in lowering your household debt. Read more.

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Keeping Your Money Safe
5 Tips For Avoiding Scams During Summer And All Year Long

Summer should be a carefree time filled with sun, fun, family getaways, and barbecuing with friends. However, remember, scammers and fraudsters never take a vacation. They understand that while you’re focusing on having a good time, you may be less vigilant about protecting your account, debit, and credit card information. To help keep your guard up, here are three common scams to watch out for and actions you can take to help protect your personal information and funds throughout summer and all year long. Read More.

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Financial Wellness
7 Ideas For Vacationing On A Budget

Summer vacations are a great way to create priceless memories and experience new places you’ll remember forever. From Europe to Fiji to resorts and campgrounds, everyone vacations differently. And the best part? You don’t have to go halfway around the world to have a great time. If you are still wondering if there’s room in your budget for travel, you can have a fantastic vacation for less if you do a bit of research and take advantage of offers and deals. Read more.

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Keeping Your Money Safe
Real Information About Imposter Scams

Imagine this. It’s a lovely spring Saturday. You’re enjoying time in the sun when you get a text from your bank asking you to confirm a recent wire transfer or suspicious or unauthorized activity. You then receive a phone call from what appears to be your bank. The individual on the phone, who you assume is from your bank, texts you a code and then asks you to share it with them to verify it’s you. They say all looks good. They thank you for your time. And you go back to your lazy, sunny afternoon. Read more.

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