Establishing good credit is central to reaching important financial milestones, such as buying a home or a car. Credit can also affect employment, rent and insurance rates. A good credit score is not only the difference between being approved or declined for a loan, but it also has a large impact on the rates you … Continue reading What is the Right Age to Start Building Credit?
Being debt-free is a great financial goal that’s within reach for all of us. But reaching that goal may not be easy. You’ll have to adapt and change your behaviors to support your goal. Here are some tips to help you get started. · Wait to Buy: First and foremost, it’s important to control impulse … Continue reading 8 Habits for Living a Debt Free Life
A healthy savings account is your best defense against life’s curve balls. But sometimes setting aside some money every paycheck isn’t enough. Especially when you’re just starting out in life. In addition to a savings account, a credit score safety net can provide the security you need in a financial emergency. A good credit score … Continue reading Good Credit is Your Safety Net
Debt is the ultimate misery. It can destroy a budget, make long-term financial planning impossible, and make you feel guilty for every purchase you make. No one wants to live with that debt burden. But how do you efficiently get rid of it? Let’s look at two common approaches to paying down debt. The Debt … Continue reading What’s the Best Way to Pay Off Debt? Snowball vs Avalanche Method
Yay, you did it! Congratulations! Even though the school year didn’t end quite as planned, your hard work paid off! So, what’s next? Do you have a job lined up? Or is college or the military your next chapter? Either way, making sure you are prepared to make smart money decisions is important as you … Continue reading Top Financial Practices for High School Graduates
From a broken-down appliance to a wrecked car or an unexpected medical expense, (not to mention the pandemic), financial stress is easy to find. But stressful money matters don’t have to keep you down for good. If you can find ways to move forward on your financial journey—even if it’s just changing your mentality—you’ll be … Continue reading 5 Ways to Find Financial Peace
Refinance your home! If you’ve had refinancing your mortgage on your mind, now may be the best time for you to take advantage of low mortgage rates. One of the main advantages of refinancing regardless of equity is reducing your interest rate which in return can have a profound effect on monthly payments, potentially saving … Continue reading Mortgage Rates Are Low, Now What?
Only you know what is best for you to spend your stimulus check on. Some people have options on what they can do with all or some of the money. Whether you have the ability to set this money aside or need the money to help you get through, just know you have options. Here … Continue reading Ways my Stimulus Check can Work for Me
At 1st Financial Federal Credit Union, we understand many of our members will be affected by the extended time at home and this could cause some major concerns for your finances. While you can't safeguard against everything, there are proactive steps you can take to be better prepared if and when finances get tight. Start … Continue reading Preparing for the Unexpected: How to protect yourself and your finances
A brand-new year provides the perfect opportunity to make meaningful life changes, including improved financial wellness. These five financial resolutions can help get your year off to a promising start so that you are financially fit for the new year.