How To Save On Wedding Costs

Personal Finances

The average American wedding cost has eclipsed $35,000. That’s more than half the yearly median income! Most of this growth in cost comes from the guest list. Couples are inviting more people and doing more for them. If you’re tying the knot this year, read on for five ways to save on the cost of your big day! 1.) Schedule …

How To Get By In An Emergency: Personal Loan Or Credit Card?

Personal Finances

As a credit union member, you have borrowing options. Two popular choices for emergency funding are personal loans and credit cards. Here are several pros and cons to each. 1.) Limits. Credit cards have credit limits in the thousands, enough to cover a small emergency. The value of credit cards is their convenience.  There’s no need for a new loan …

How To Deal With Financially Challenging Friendships

Personal Finances

Friends are the family we choose for ourselves. But some friendships can be a serious drain on your savings. If you recognize these kinds of people in your life, it’s hard to know what to do. Here are several examples of financially dangerous friends and how to handle them. 1.) Party every night It’s great to blow off steam with …

Balance Your Portfolio To Keep Your Future On Track

Personal Finances

Personal finance is almost always a balancing act. You’ll need to strike a balance between spending and saving. You’ll want to balance your expenses against your income. You would be wise to make sure the risk and potential reward stay in balance. Most importantly, though, your portfolio will benefit if you keep your investments in balance. There are many ways …

Minimize Investment Risk By Building Up Your Savings

Personal Finances

It’s essential to have a solid cushion of savings before you start putting your money into an investment. Life is full of surprises. You don’t want to be caught in an emergency that leaves you desperate for cash when all your funds are tied up in bonds, CDs and stocks. Saving money should always come before investing money. Your savings …

Getting Your Finances In Order

Personal Finances

Congratulations! You’ve made the important decision to invest some of your finances this year, and it’s your first time ever. But where do you start? Jumping into the market without first taking careful stock of your finances is like asking for seconds at the dinner table before finishing your first portion. Though you can technically invest before your debts are …

Personal Loan: The Swiss Army Knife Of Personal Finance

Personal Finances

Sometimes life throws expensive surprises. To cover them, you’ll need to borrow. If you’re borrowing to finance one of these costly events, consider a personal loan. 1.) Weddings. When it’s time to get married, the wedding is on – there’s no waiting for funds! The average wedding costs over $30,000, too much for one credit card, and the interest would …

Credit Card Or Debit Card – What’s The Smartest Swipe?

Personal Finances

Most people own at least one debit card and at least one credit card. Although it may not seem like it, there are many differences between the two. Each time you use a credit card, you’re borrowing money. You’ll need to pay that money back to the credit union along with interest. A debit card, on the other hand, simply …

Don’t Sleep On Your Savings: Avoiding Dormant Accounts

Personal Finances

The best things to do with a savings account is to forget about it and let it earn dividends. However, don’t forget about it so long that it becomes dormant. A dormant savings account is one with a low balance that has had no deposits in a while. Exact criteria varies by state. Generally, accounts with less than $50 that …

Time Is Money: How To Calculate Your Wage For Savings

Personal Finances

Exchanging time for money is a primary economic activity. It underscores every transaction. You go to work and trade your time and labor for a salary. You’re tired on the way home, so instead of cooking, you exchange money for the time and energy of a fast-food worker. You want to go out to dinner with your partner, so you …