While bank and banking are universally understood and accepted terms, the term credit union is still largely misunderstood and unknown to many. Credit union is an unusual term, isn’t it? Is it just another name for a bank? Is it a credit card company? Do I have to be in a union to join? Watch the video.
Spending
SavvyMoney Minute: Don’t Shop Angry, Hungry or Sad
Impulse buying: We’ve all done it. In fact, the average person will spend $114,000 on impulse purchases over their lifetime. How can you avoid that fate? Skip these three shopping sins.
Ask the Advisor: To Lease or Not to Lease?
This advice blog is provided by TrueCar®, our Car Buying Service.
The decision to buy or lease can be a biggie.
A lease is a long-term rental, a car you’ll have to give back to the dealer at some point. A purchase is, well, yours for the long haul. Often your choice will come down to price.
It’s a Money Thing: Budgeting Basics
Budgets: we all know we should have one, and we all know it’s a fairly simple thing to follow—at least in theory. We often map out budgets with the best of intentions, only to abandon them a couple of weeks later. If we design budgets that are too restrictive or too vague, there’s no motivation to follow them.
SavvyMoney Minute: Financial Check-up
Once a year you go the doctor for a check-up. Twice a year you visit the dentist for a cleaning. But when was the last time you had a financial physical? Without one, you may not know if you’re financially healthy. Do you have too much debt? Are you saving enough for retirement?
SavvyMoney Minute: Are You a Smart Borrower?
Can borrowing save you money? Smart borrowing can. The difference between a so-so interest rate and a good one can mean thousands of dollars in your pocket, whether you’re financing a home, buying a car, or opening a credit card. Here are four great tips for smart borrowing.
SavvyMoney Minute: Pay Together, Stay Together
A recent study confirmed what many of us already know: money issues can tear a couple apart. In fact, couples who disagreed about finances once a week were more than 30% more likely to get divorced than those who disagreed a couple of times a month. One solution? Common goals.
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Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or BALANCE counselor who can help tailor a solution for you.
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SavvyMoney Minute: Five Tips to Better Finances
Think it’s too late to resolve to improve your finances? It’s not! Here are five tips.
It’s a Money Thing: Common Money Beliefs
How did you decide where to open your first bank account? Where did you learn to budget or pay bills? If you have a money question now, what do you do? Who do you turn to? Find out in this video.