What makes us overspend? Let’s look at five common reasons and how we can overcome them. 1. To keep up with the JonesesWhen people who seem to be in the same financial bracket as us can afford another pair of designer shoes for each outfit, we should be able to afford them, too, right? Break
WHAT TO DO WITH YOUR FIRST PAYCHECK As part of the changes you’re gearing up for in the months after you graduate, you’re poised to enter the working world as a long-term employee, perhaps for the first time in your life. As you prepare for this transition, you might have dollar signs dancing in your
It’s supposed to be the most wonderful time of the year; but for many, the holidays can be an expensive time. From gifts to decorations to wrapping paper to special events, it’s easy to overspend and possibly even go into debt paying for all the extras. In 2019, Forbes reported on a Gallop poll showing
Don’t be the next victim of a debt-collection scam! Here’s all you need to know about these scams: HOW THE SCAMS PLAY OUT In a debt-collection scam, a caller claiming to represent a debt-collection agency demands immediate payment for an alleged outstanding debt. The caller insists on specific means of payment and may threaten to
With interest rates falling and home prices rising, it might be a good time to use your home’s equity. A home equity loan, or HEL, can be an ideal way to source extra funds during a falling-rates environment. If approved, you’ll receive the funds in one lump sum within a few days. There are no
Credit cards and debit cards offer incredible convenience; but, is it a smart idea to pay monthly bills with them? Choosing to pay a bill with a card can have a significant impact on your general financial wellness. It’s important to consider the many variables of this decision before going ahead with it. Let’s inspect
It’s no secret that the IRS excels at making things complicated. And when you’re busy learning the ropes of a new job, trying to fill out a 4-page W-4 form can be a huge hassle. It’s not a good idea to rush through it, though, because a small mistake now can mean withholding too much
Credit scores can affect you more than you know. Employers look at credit scores. Landlords look at credit scores. Bill providers look at credit scores, and they might decide to charge you if yours gets too low. With all this pressure, you’ve no doubt started working on some good habits for improving your credit score.
Using emergency funds to survive prolonged unemployment, an unexpected large expense, or a medical emergency is the best way to make it through financial hardship. If your savings are depleted, though, it’s best to start rebuilding as soon as possible. Here’s how: SET A GOAL Before getting started on saving up money, establish a tangible
Getting rid of debt isn’t easy, but if you’re ready to do what it takes, you can shake off any amount of debt. Let’s take a look at two popular approaches for paying down debt and explore the pros and cons of each. The debt snowball methodThis approach involves focusing on paying off the smallest
Your credit score is an indicator of your financial wellness and responsibility. We have outlined how credit scores are calculated, why it matters, and steps to take to improve your score. How is my credit score calculated?The three major credit bureaus in the U.S. collect and share information on a person’s credit usage with potential
It’s easy to go overboard for Christmas. Giving extravagant gifts to your family members seems like a great idea … until you’re facing a huge credit card bill in January. However, it happened, approach this problem rationally. Blaming yourself is pointless; the important thing now is to right yourself financially. Fortunately, you’re not facing this
DoverPhila Federal Credit Union is partnering with OhioMeansJobs Tuscarawas County and the United Way of Tuscarawas County, Inc. to host “Master Your Money: Four-Part Series.” “Master Your Money” is a financial workshop that focuses on introducing easy, straightforward methods to help individuals reach their financial goals. The workshop is scheduled for August and September at
It feels like you just packed away the holiday decorations yesterday, but believe it or not, 2019 is already half over. As we sail into the season of barbecues and beaches, take a few minutes to give yourself a mid-year financial checkup. A small investment of time can spur important changes that can affect your
If you’re like most Americans, you owe money toward a large loan. Whether that means carrying thousands of dollars in credit card debt, having a hefty mortgage in your name, or making car loan payments each month – loan debt is part of your life. It can all get kind of depressing—but it doesn’t have
Ohioans, like most Americans, entered 2019 hoping to better their finances, but many have likely already fallen off track. In an Ohio Credit Union League 2019 consumer survey, 69 percent said their New Year’s resolution was to get on a budget. That statistic isn’t surprising; many Americans looked critically at their financial situations as they
Choosing the best credit card for your lifestyle can have a considerable impact on your overall financial health. In an Ohio Credit Union League 2018 consumer survey, 73 percent of respondents stated they use at least one or two credit cards every month. Of those who regularly utilized credit cards, 39 percent carried up to
