Money Matters

Your Credit Union Newsletter

Browsing: Personal Finance

Financial articles for FIGFCU members by your Credit Union.

Financial Wellness
Buy Now, Pay Later?

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?

Continue Reading
Farmers Agents
How To Prepare For A Recession Part 1:  Finance

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.  

Continue Reading
1 2 3 10