Money Matters
Your Credit Union Newsletter
There are obvious reasons, both from a financial standpoint and for aesthetics. For example, the homebuyer won’t be living in a house previously occupied by strangers and may have all the latest energy- and cost-saving features.
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s or become independent young adults. But a better way to help your children understand earning, saving, and investing is to teach them such skills while they are young. This will make finance more intuitive for them – rather like giving your child a tablet when very young so they become “digitally native.”
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Emotional spending is an effort to relieve stress by spending money on something you don’t need—and it’s common. According to a survey by NerdWallet.com, almost half of all Americans spend more than they can afford for emotional reasons.
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In the modern world, almost everyone holds a credit card. Reportedly, almost 8 in 10 American’s have at least one credit card and there were 365 million open credit card accounts in the U.S. as of end of year 2020 according to the American Bankers Association.
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Ever want to hide from your creditors and hope your financial problems just disappear? If so, don’t do it! Unpaid, unsecured debts such as credit card balances, medical bills, and personal loans will not only cause great credit report damage, but you could also face legal trouble.
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These days, as you might imagine, the Credit Union spends a lot of time trying to help our member-family address the immediate effects of inflation. Today I’d like to focus on this, and also touch on how we keep our eye on the longer-term: how we help members plan for a financially independent “happily ever after.” Also, a bit of news on a big initiative we’re working on for you.
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Finance like fashion can be “in” one day and “out” the next. New approaches emerge and everyone piles into them. Then they move on to the next big thing. But some tenets stand the course of time and never really lose their luster.
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Does anyone want a free flight? How about free groceries? Perhaps some extra cash? These rewards are possible using credit card rewards, but is there a cost? Without careful planning and using the right card for your circumstances, unfortunately, your rewards may come at a high cost that far exceeds any benefits
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Taking care of your health and going to the doctor for regular check-ups is something most of us take for granted. So why is talking about financial health considered a taboo subject so often? Especially when, according to the Financial Health Network, only 34% of U.S. households are financially healthy.
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Contemplating a home improvement project? You are not alone. Millions of other homeowners do this every year, taking a critical look at their surroundings and thinking about what they could do to make their properties better. There are many important benefits to a home improvement project, from enhancing the look and mood of a space with a lighting upgrade to improving living space by turning that dark, dank basement into a rec room.
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