Credit Union Blog

“Where does it all go?” is a question asked by many working Americans who seem hard-pressed to save any money toward emergencies and retirement. However, the answer may be steaming in our hands each morning.

In today's hyper-connected world, and especially now during the global pandemic, it's important to think about a new, improved digital you. Cyber scams related to COVID-19 are online, but by taking some smart, simple steps, you can greatly impact the safety and security of your online identity, according to the National Cyber Security Alliance (NCSA).

The coronavirus situation has created a number of new challenges for our society. Among other things, many people are now facing the reality of a reduced household cash flow. If you're accustomed to operating with a set budget for your monthly expenses, you've no doubt seen how it affects your efforts to make ends meet, but if you've never really put it down on paper, now may be the time to get started. While it might seem like a daunting task at first, once you have a budget in place you'll find how it makes everything easier, and maybe even wonder why you didn't do it sooner.

While the coronavirus situation has brought an upheaval to society, it also presents a perfect opportunity for fraudsters to deploy scams upon the general public. The Federal Communications Commission (FCC) has received reports of text message campaigns and phone robocalls offering bogus cures and other virus-related items, all with the intent of scamming the consumer.

It’s never too early to start thinking about your New Year’s resolutions, especially after a busy month of holiday spending! For some, this might mean making goals to eat healthier, stop smoking, read more books, or lose some weight. For others — it’s all about saving money. 

Big credit card corporations spend an enormous amount of time and energy marketing their products in ways that seem cost-effective to consumers. Offers such as promotional discounts, rewards, zero-interest balance transfers, and even cash-back appear to be an excellent way to gain a benefit. But too often, everyday people get tripped up and have a monthly balance you can’t quite pay off. It’s important for consumers to be wary of rising credit card debt that may result from your excitement about taking advantage of perks.

Securing a credit card and utilizing it each month can be a tremendously effective strategy to build a robust credit score. While other borrowing and repayment options are also part and parcel of a diverse financial portfolio, using a credit card to build credit may just get you the most bang for your buck. That’s because swiping plastic involves new purchases and regular repayments. The overall view of credit agencies about people who make timely payments is that you are a trustworthy borrower and financial planner. Building credit with a credit card positions you for more lucrative loan products.

When people are looking for a credit card, there are a lot of factors that need to be considered. While many people are familiar with how important it is to consider interest rates, annual fees, and penalties, it is also a good idea to take a look at the rewards that the card offers. Credit card companies make money when their customers swipe their cards. Therefore, they will often offer rewards to incentivize the customer to use their card.

Consumers can almost tell what time of year and month it is by the seasonal sales advertisements. We live in an age where there are literally “shopping holidays” such as Black Friday. We all know that one occurs the day after Thanksgiving, and the savings can be huge. Other industries also promote certain times to buy. Real estate tends to be hot during the summer months because families often want their children to start fresh at the beginning of the school year.

Dealerships are one of the last strongholds of pure price negotiation. Negotiating a price on a new truck, however, isn't like deciding on a price with a private seller; the dynamic of negotiating at a dealership is much different. A truck salesperson deals with hundreds of negotiations every year and they really know their stuff, while the average person shopping for a new truck only does so once every several years.