As parents, it is our responsibility to prepare children for adulthood. One aspect of this is teaching financial literacy to them. When your kids know how to manage money well, they may be less dependent on you financially when they become adults. In addition, they may be in a better position to look after you in your later years when you're no longer able to work. Here are some ways to teach financial literacy to children. Teach the Difference Between Wants and Needs Too often,...
If you’re buying a house and plan to obtain a home loan through our credit union and AmeriCU Mortgage, we think you’re making a wise decision. We’ll be here to help walk you through the loan process. The first few steps would be for you to obtain certain home loan documents. Getting a hold of these documents early will help the homebuying process move smoothly and efficiently. 7 Home Loan Documents or Resources You May Need to Have 1. Proof of Income You may need...
An astounding 78 percent of Americans live paycheck to paycheck. Many of them were affected by the recent government shutdown. Fortunately, you can take control of your finances today. One smart way to do so is by having multiple savings accounts. Benefits of Multiple Savings Accounts One of the most significant reasons for having multiple savings accounts is having multiple savings. It is possible to keep all your savings in one account and keep a ledger detailing how much money is saved for each goal....
Although we use its logo proudly, what NCUA federal insurance means isn’t always clear to credit union members. To us, it’s a required standard that we wouldn’t dream of going without even if we could. Following are some of the basics about NCUA insurance. What is the NCUA? The National Credit Union Administration is an independent agency of the United States government that regulates, charters, and supervises federal credit unions. NCUA also operates and manages the National Credit Union Share Insurance Fund. Backed by the...
Once you’ve begun to save and grow your “nest egg,” the questions change from those of paying down debt and escaping the paycheck-to-paycheck existence. If you find yourself with assets that are growing, you need a different type of financial assistance: wealth management assistance that may help you secure your financial future and protect the money you’ve worked hard to earn! Grow Your Money Sustainably It's tempting to keep all of your savings liquid, or accessible without penalty, but you'll find that there are limits...
It's tax season again. While some people face this time of the year with dread, many Americans receive their largest check of the year in the form of a tax return. But keep one thing in mind: criminals could be waiting for those returns as well. You should learn how to protect your tax returns from identity theft, and believe that your efforts can work. Reported tax return thefts dropped considerably in 2017 as a result of federal and state governments working together. However, 242,000...
Are you thinking about cruising through 2019 in a new (or new to you) car? One way to get that new ride is through an automobile loan. In fact, if you’re considering taking that route, consider obtaining an auto loan from a credit union specifically, as they offer numerous advantages. What to Do Before Applying for an Auto Loan In general, before applying for an auto loan, you should keep the following steps in mind: 1. Know your own credit score and credit history, as well...
With so many responsibilities in your life, keeping track of when each of your bills is due and whether or not you actually made the payments can be overwhelming. A debt consolidation loan may make it all so much easier for you by bringing many of these bills together. Here’s how. 4 Ways a Debt Consolidation Loan can Help You 1. You have one interest rate. When you only have one interest rate, you don’t have to question which debt to pay off first, calculate...
It’s never too early to start saving money for the future, and instilling in children the importance of saving can begin at an early age. In fact, children may likely find the concept of saving money enjoyable if they can benefit by buying something they want or increasing their savings. You can teach children to save money in numerous ways, and you may even learn a few things along the way as well. How to Teach Children to Save Money Easily 1. Be a Mentor....