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This month we’re joining in the call to raise awareness about the ongoing dangers of check fraud. Regardless of whether or not you still write paper checks, this information still matters because it is one of the many ways fraudsters are trying to steal money from unsuspecting victims.
Links:
- View and download the One Page Guide on common types of check fraud
- Learn more about the America Saves Pledge
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
This week’s tip is a resource from the America Saves campaign presenting 5 specific types of check fraud to stay on guard against. This important awareness campaign is coordinated by the nonprofit Consumer Federation of America (CFA) which is dedicated to helping individuals save money, reduce debt, and build wealth. Take a moment, listen in, and share it with others so they can be made aware of this ongoing financial threat.
Let’s get into the 5 specific types of check fraud you should be aware of.
Even in a digital world, checks (paper or electronic) contain valuable information that criminals can use to steal money or commit fraud. At the same time, scammers are increasingly combining traditional check scams with electronic payments, mobile deposits, and peer-to-peer payment apps.
Understanding the most common types of check fraud can help you recognize warning signs and better protect your money.
- Mail Theft
One of the most common ways check fraud begins is through stolen mail.
Criminals may target residential mailboxes, apartment mailrooms, or public collection boxes looking for outgoing checks such as rent payments, utility bills, or personal checks.
Once stolen, those checks may be altered, copied, or used to access personal banking information.
To reduce risk:
- Drop mail inside the post office when possible
- Avoid leaving outgoing checks in unsecured mailboxes overnight
-
Monitor expected payments and mail delivery closely
-
Check Washing
Check washing happens when a thief steals a completed check and removes the ink using chemicals. Once the original writing is removed, they rewrite the check with a new payee name or a larger amount.
For example, a $50 utility payment could become a $500 payment to a fraudster.
Even a small check can be changed into a much larger fraudulent payment.
Using permeant gel pens and avoiding blank spaces on checks may help reduce the risk of alteration.
- Counterfeit Checks
Counterfeit checks are fake checks created using real bank account information. Scammers may use stolen logos and routing and account numbers to print checks that look legitimate. This can happen after mail theft or data theft.
Counterfeit checks may be used to make purchases, withdraw cash, or scam others.
Just because a check looks official does not mean it is legitimate.
- Fake Check Scams
Fake check scams often begin with an unexpected opportunity or payment.
A scammer may:
- Offer a fake job
- Send a prize or lottery payment
- “Overpay” for an online purchase
- Send money for supplies or equipment
The victim is then instructed to deposit the check and quickly send some of the money back.
Many of these scams now involve electronic checks, mobile deposits, or peer-to-peer payment apps. A scammer may email a digital check image, ask someone to deposit it through a banking app, and then pressure them to send money electronically before the check fully clears.
Although funds may appear available in an account, the check can still later be rejected and could leave the victim responsible for the lost money.
Young adults, first-time workers, and online sellers are frequently targeted by these scams.
- Forged Checks
Forged checks happen when someone signs or changes a check without permission.
This may include:
- Signing another person’s name
- Altering payment information
- Changing endorsement details
Forgery can happen through stolen checkbooks, lost checks, or unauthorized access to financial information.
Monitoring your account regularly can help you spot suspicious activity sooner.
Why This Matters
Check fraud continues to evolve, and scammers are finding new ways to combine traditional check fraud with digital payment methods.
The good news is that awareness and simple habits can help reduce your risk.
Understanding how these scams work can help you:
- Spot warning signs earlier
- Avoid common scams
- Protect your banking information
- Take action quickly if something seems wrong
How to Protect Yourself
- Monitor your accounts regularly
- Set up banking alerts
- Be cautious with unexpected checks or payments
- Never send money back based on a deposited check alone
- Use secure mail drop locations whenever possible
Learn More
Protecting your money starts with awareness. Download the helpful one-page guide that focuses on common types of check fraud, signs to watch for, and prevention tips. Link will be in the show notes.
Want to continue building your financial confidence through education? Follow the link in the show notes to take the America Saves Pledge today for tips, tools, and resources to help you save for what matters most to you.
How often do you reach for cash when making a purchase? If you are like most Americans, it’s not very often, and the bigger the purchase, the more likely you are to use a credit or debit card. Fraudsters are aware of these statistics so they develop tricky tactics to intercept your card information during the purchase process.
Links:
- Check out the news story covering gluing: https://abc7news.com/glue-in-atm-slot-chase-scam-tap-card-bank/12935385/
- Learn more about Triangle's Better Checking account with ID Protection
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Now, more than ever, it’s important to safeguard sensitive card information to prevent an interruption in your ability to make important purchases. It’s often stressed to pay attention to any attempts to steal our information when we use our cards online, but the unfortunate reality is that even if the card stays in your physical possession while paying, there are several ways that your card information can be stolen or used fraudulently. Let’s revisit two of these criminal practices, and learn how you can be your own superhero and stop fraud before it happens.
Skimming
You’ve probably heard about this one before. Skimming is a technique employed by criminals to steal sensitive payment card data, including credit or debit card numbers, PIN codes, and other personal information. Even though this illegal technique has been around for more than twenty years, it is still one of the most common types of card fraud. It typically occurs when a physical device, known as a skimmer, is placed on or near a legitimate card reader, such as an ATM or a point-of-sale (POS) terminal at a store or gas pump. The skimmer is designed to capture card data, while an additional component, like a hidden camera or keypad overlay, records PIN codes or other information about the payment card transaction.
Even if you have a chip card, many card terminals still use the magnetic stripe on the back of the card in addition to or instead of the chip. The only transactions that are not subject to skimmers are those where you do not insert your card past the chip portion, therefore, the magnetic stripe is not readable, or you use Tap-to-Pay. Tap-to-Pay allows a cardholder to physically tap the card on the device, which uses short-range wireless card reader technology to access the account, rather than relying on the physical attributes of the card.
How to Detect a Skimmer:
- Examine the Card Reader Carefully: When using an ATM, or a POS terminal at a store or fuel pump, check the device for anything that looks odd. Fraudsters may attach a skimmer directly over the card slot or PIN pad, resulting in something that is not the same color or shape or looks bulky. Look for any other signs of tampering, such as scratches, glue residue, or a loose-fitting card slot (touch to see if it moves). If anything seems suspicious, avoid using the machine and report it immediately.
- Use Your Hand to Shield Your PIN: You may have developed a habit of using your hand to shield the keypad when entering your PIN code if you are in line at the grocery store, but what about when you are alone at an ATM or gas pump? You need to include this as a habit every time you enter your PIN, no matter where you are. Criminals often install tiny miniature cameras at the point where a skimmer is installed to capture your PIN, as the skimmer captures the information from your card.
- Use Secure and Trusted Devices: Whenever possible, use ATMs or payment terminals that are in well-lit, secure areas. When filling up, choose pumps close to and within sight of employees. Illegal skimmers must be installed by someone, and criminals will choose areas where they are the least likely to be noticed and caught.
- Monitor Your Accounts Regularly: Regularly review your bank statements, credit card statements, and transaction history for any unauthorized or suspicious activity. Report any discrepancies to your financial institution immediately.
Gluing or "Glue-and-Tap"
Gluing or Glue-and-Tap is a method that criminals are using at ATMs to access your bank account directly, skipping the need for your card information altogether. This scam typically occurs at a free-standing ATM in a well-trafficked area where people approach on foot. It goes like this. The perpetrator pours glue into the card reader, setting up the scam. Sometime later you visit the ATM to retrieve cash, but you find that you can’t insert your card. A seemingly helpful bystander tells you that the machine is jammed, but if you tap your card, you can still make a withdrawal. At that point, you tap either your card (or phone), enter the PIN required for tap transactions, and leave, often even thanking the “helpful” stranger. The bystander is counting on you, the victim, not being familiar with this type of withdrawal and unaware that you will need to take an extra step to exit the account on the screen before leaving the ATM. Unlike when a card is inserted, and the account window closes when the card is removed, a tap transaction must be closed out on the screen. The criminal perpetrating this scam expects the victim to be unfamiliar with the process, and they can then drain the account that has been left open. Some victims even report being uncomfortable due to the bystander's presence; therefore, completing their transaction and being distracted in their effort to leave the area quickly and safely, leaving their account window open, even if they know better. Scammers utilized this method back in 2023 during a series of incidents in San Francisco, which was featured in a video news report.
To help protect yourself, avoid any ATM with a card reader that doesn’t seem to work properly. If you are comfortable using the tap feature on your phone or card for transactions, always wait for the prompt asking if you are finished and confirm that your account is no longer accessible before leaving.
It's up to all of us to stay protected against identity theft, particularly in the case of payment card fraud. But if a criminal gets your payment card, they may not stop there. If you feel you may be a victim of identity theft, we have professionals standing by to help you get your life back on track. If you have a Better Checking account at Triangle, take a moment to review and activate your monitoring benefits. This will help you stay informed of any activity that could indicate you are a victim of identity theft.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Managing your money should feel simple, not stressful. With the right accounts and smart financial tools, reaching your goals and staying in control of your finances has never been easier. That’s why we created the Smart Money Bundle—a convenient solution designed to help you make the most of your money.
Links:
- Check out Triangle's Smart Money Bundle for a smarter way to save
- Learn more about Triangle's no minimum balance, Better & Basic Checking account options
- Learn more about our Direct Deposit Drawing and the chance to win $750! Enter the drawing by October 4, 2026. See Official Rules for additional details.
- Download our Direct Deposit Form to start setting up your first direct deposit.
- Learn more about our higher-than-average tiered rates Online Savings account to jump start savings.
- Learn more about our Goal Builder tool to set up and automate savings goals.
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The sun is shining, children are out of school for the summer, and you may be planning to (or have already scheduled to) take time off from work for vacation; this is the time of the year when you want to sit back and relax while enjoying the nice weather with friends and family.
But something that should never take a back seat is your finances because your financial situation is important and your future matters.
Looking for a simple way to stay on top of your finances? With the right combination of accounts and services, you can make everyday banking easier while building toward your savings goals.
With Triangle’s Smart Money Bundle, you can improve your finances and create your own financial goals. Here’s how to take advantage of bundle:
- Open a No Minimum Balance Checking Account
You don't need a hefty minimum balance in checking anymore-- you just need enough to cover the transactions!
Avoid the penalty of low minimum balances on your checking with one of our great checking account options. Better Checking Account with Identity Protection* or Basic Checking Account.
Both of these checking accounts come with a contactless debit card, so for more security and convenience, add it to your digital wallet and get on with your summer adventures.
- Set Up Direct Deposit with Early Paycheck
Did you know that you could receive your paycheck up to two days early with ACH approval from your employer if you set up direct deposit?
Plus, for a limited time we’re running a special drawing you don’t want to miss! From now until October 4th 2026, when you set up a new direct deposit, you’ll be entered into a drawing for your chance to win $750.*
*There’s no purchase necessary so visit triangleuniversity.org/contests/ or follow the link in the show notes for full drawing rules.
If you’ve been putting off setting up a direct deposit for a while now, don’t miss this chance. It’s the perfect time to get started and super easy with our simple direct deposit form . Access the form directly using the link in the show notes.
- Open an Online Savings and Begin Saving with Goal Builder
Your funds are easily accessible and available for online transfers with a Premium Online Savings account.
This savings account has higher-than-average tiered rates and there is no minimum deposit required to open, no limits to deposit, and no limits to withdraw funds thereafter.
After opening your online savings account, begin saving towards the goals that matter most to you with Goal Builder. Goal Builder is our online banking tool that helps you save towards your financial goals, automatically so you can take the stress and guess work out of saving.
Triangle’s Smart Money Bundle was designed to highlight three financial products and services that when utilized together, can simplify your financial journey. Visit Smart Money Bundle - Triangle Credit Union to learn more about the Smart Money Bundle and get started today!
Looking after your financial health matters just as much as caring for your physical health. Just as you track health stats to see what needs attention, you should also keep an eye on your money, check your progress, and see what needs improvement. Fortunately, tracking a few key areas can paint a good picture of your overall financial health and illuminate areas that may need improvement.
Links:
- Learn more about Triangle's Financial Planning services
- Get a snapshot of your financial health with our free Financial Wellness Assessment
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We all learn early on that taking care of our health is essential. We’re told to eat well, exercise, and manage stress. Looking after our bodies helps us stay strong and ready for life’s challenges. The same goes for financial health. It means checking your finances, keeping an eye on your spending, and tracking your progress to build a solid plan for the future.
The good news is that keeping track of your financial health isn’t hard. With a simple plan, you can review your situation, set goals, and take steps toward stable finances. Begin by looking at these main financial areas to gather the right information and get a clear view of where you stand.
Savings Strategy & Habits
In this area, you keep track of your current savings and see how well you’re saving. Checking your savings habits and balances shows how ready you are to handle surprises or a loss of income.
It’s important to look at how often you save, the total amount you’ve saved in different accounts, and your household income.
Track your total savings in checking, high-yield savings, and brokerage accounts. Also, note any automatic savings contributions and interest earned on your savings.
Cash & Liquidity Health
This shows how steady your cash flow is. The money coming in should cover your needs and help you plan for your wants. Available cash gives you flexibility, and liquid cash is money you haven’t spent yet.
However, debt can make things harder. Debt affects your ability to access cash. If your payments stay below your income, you’re okay. But if your debt grows too much, it can limit your cash flow and make your finances less flexible.
In this section, review your cash flow, see if you can pay for your needs and wants, and compare your income to your debts.
You’ll want to track your income, total debt, debt-to-income ratio, and interest rates you’re paying to measure your cash and liquidity health.
Investments Health
This area is about long-term planning. Think about what you want your life to look like after you retire, how much money you’ll need, and whether your savings will support your post-retirement lifestyle.
Keep in mind that your investment needs will change as you get closer to retirement, so it’s a good idea to review your investments regularly. Financial professionals can help you choose the right mix for your stage of life and guide you in building a portfolio that fits your retirement plans. For more help, visit Triangle’s financial planning services at trianglecu.org or use the link in the show notes.
Track your current retirement savings, how much you’re contributing, your projected retirement savings and income, and what you expect to spend in retirement. Put all this information into a retirement plan that you can update as your situation changes.
Protection Health
Protecting yourself and your finances is an important part of staying healthy overall. This is a way to prevent problems before they happen. Just as health insurance helps with medical costs, life and disability insurance can help if something major affects your finances.
Long-term planning helps protect your wealth from unexpected problems. It also shields your loved ones and yourself from financial stress if something goes wrong.
Think about what insurance you have besides your employer’s life insurance. Do you also have an additional life insurance policy, short- or long-term disability, or, for later in life, long-term care insurance?
Check which insurance policies you have, how much coverage they offer, and if that’s enough to support you financially when needed. Review your premiums, coverage amounts, and look for any gaps in coverage you might need to fill.
Estate & Legacy Health
Estate planning is about preparing for what happens after you’re gone. Many people don’t have a plan and leave their families with a lot to sort out. Avoid this by making a clear, organized estate plan. This lets you decide how your assets, like your home and accounts, will be passed down according to your wishes.
There’s a lot to think about here, so when it comes to estate planning, it’s also important to have a financial professional right by your side to walk you through the ins and outs of putting together a solid financial plan. If you’re looking for help or services in this area our professionals help with this too. Follow the link in the show notes for our financial planning services.
If you've collected all the information but don’t know whether it means yore in good financial health or not, you can get a personalized report fast with our quick and easy personal financial assessment. It asks a few questions, gives you a personalized report, and then highlights your areas for improvement. It only takes a few minutes and is a great first step toward understanding and improving your finances. Start today for a clearer view of your financial health. Try it out today! Visit trianglecu.org or follow the link in the show notes to get started.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Buying a home is one of the biggest financial decisions you'll ever make. If you are not ready to buy yet because mortgage rates feel high, your down payment needs more time, or the right house has not hit the market; the waiting period can still work in your favor. Don’t let the home buying delay get you down. Instead, let it motivate you to work towards a more favorable purchase outcome.
Links:
- Listen to our past episode "What the Heck is Credit and Why is it Important?" to learn more about credit scores and reports
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Finding the right house can be challenging. For many buyers, it’s a process that’s hard to predict and in many cases, can take longer than expected. The good news is that the waiting period doesn't have to be wasted time. In fact, a few smart financial moves now can put you in a much stronger position when it's finally time to make that offer.
If you’re one of the many people waiting to find the right house to call home, here are a few things you can do in the meantime to get your financial situation in tip top shape while waiting.
- Build a Bigger Down Payment
One of the most productive things you can do while waiting to buy is continue growing your down payment fund.
A larger down payment can reduce your monthly mortgage payment, lower the amount you'll need to borrow, and potentially help you avoid private mortgage insurance (PMI). Even adding a few extra thousand dollars to your savings can make a meaningful difference over the life of the loan.
Consider setting up automatic transfers into a dedicated high-yield savings account, so your home fund continues to grow without requiring constant attention.
- Improve Your Credit Score
Your credit score plays a major role in calculating the mortgage rate you'll qualify for. Even a small improvement could save you thousands of dollars over the life of a loan. This waiting period is a great time to beef up that score for a better purchase position.
While you're waiting, focus on:
- Paying bills on time
- Reducing existing credit card balances
- Avoiding new debt
- Reviewing your credit report for errors
Think of this period as an opportunity to strengthen your financial profile before mortgage lenders take a closer look.
- Pay Down Existing Debt
Lenders pay close attention to your debt-to-income (DTI) ratio when evaluating mortgage applications. The lower your monthly debt obligations, the more attractive you may appear as a borrower. Take some time to do the math and figure out what your debt-to-income ratio is. If it’s uncomfortably high, make some changes.
Reducing debt can improve both your borrowing power and your overall financial flexibility once you become a homeowner.
For more information about credit scores in general, listen to one of our podcast episodes “What the Heck is Credit and Why is it Important” for an expert explanation on building and maintaining a good credit score. Check the link in the show notes.
- Build an Emergency Fund
It's easy to focus entirely on saving a down payment, but homeownership comes with unexpected expenses. Water heaters fail, roofs leak, and appliances don't always cooperate.
Before buying, aim to have an emergency fund that can cover several months of living expenses. Having cash reserves can help prevent a surprise repair from turning into a financial setback.
- Research Your Future Neighborhoods
The waiting period can also be a great time to become a more informed buyer. Doing preliminary work and research is always a good idea, because it helps you further solidify where you really want to live. This is important because it’ll decrease the chance of buying a home so abruptly that you didn’t get a chance to consider the location. So, you put in the offer, signed the contract and finally moved in only to realize you hate the neighborhood. These days things move quickly, so having a firm understanding on locations can help you rest easy knowing you're making the right move when you buy.
Spend time researching things like:
- School districts
- Property taxes
- Commute times
- Local amenities
- Future development plans
- Environmental factors – human-caused (like contaminated water or natural like flooding risk)
While researching, visit neighborhoods at different times of day and on weekends. What looks perfect during a Sunday afternoon visit may feel very different during a weekday rush hour.
- Create a Realistic Homeownership Budget
Many buyers focus primarily on the mortgage payment, but that's only part of the equation. Homeownership brings with it many added costs. Take some time, do research and develop a budget that will include not only the mortgage but added payments you can expect to make down the road including:
- Property taxes
- Homeowners insurance
- Utilities
- Maintenance and repairs
- HOA fees, if applicable
A useful exercise is to "practice" the future payment. If your current rent is $1,800 and you expect a future housing payment of $2,500, try setting aside the extra $700 each month. This can help you test your budget while increasing your savings.
- Avoid Major Financial Changes
If you expect buying within the next year, it's wise to avoid actions that could complicate a future mortgage application.
Be wary and try to avoid changes that can disrupt your financials like:
- Taking on large amounts of new debt
- Financing expensive purchases
- Frequently opening new credit accounts
- Making large unexplained bank deposits
Consistency and stability often work in your favor during the mortgage approval process.
Waiting to buy a house can feel frustrating, especially when you're eager to move into a place of your own. But the time before your purchase can be one of the most valuable parts of the homebuying journey.
By strengthening your savings, improving your credit, reducing debt, and preparing for the realities of homeownership, you'll be positioning yourself for a smoother purchase and a stronger financial future. When the right house finally comes along, you'll be ready to move forward with confidence.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
We’ve all been there—you open an email and something just doesn’t feel right. Maybe it’s an unexpected attachment, a link asking you to “act fast,” or a message that looks like it came from a coworker but sounds off.
Knowing how to spot a suspicious email is important. But what really makes the difference is how you respond. A quick, thoughtful reaction can stop a potential issue in its tracks, while the wrong move can accidentally make things worse.
Links:
- Learn more about KnowBe4 fraud awareness and training tools
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal Podcast.
This tip comes from an article provided by KnowBe4 security Awareness and Training Solutions.
First of all, let's look at what you should not do with a suspicious email. You should not respond to it. It’s natural to want to confirm legitimacy, especially if the message appears to come from someone you know. But if the account has been compromised, you’re not talking to your friend or coworker—you’re talking to a scammer. Even a simple reply signals that your email is active and monitored, which can make you a bigger target going forward. Instead, verify through another channel if needed, like a direct phone call or a fresh email you initiate.
Secondly, don't click any links or attachments. Suspicious emails often include links that redirect to fake login pages to get your credentials or attachments that download malware. Sometimes the signs are subtle. You might click expecting a document, only to get a login request or a strange pop-up instead. If anything behaves unexpectedly, stop immediately. That’s a red flag.
If you receive a suspicious email, don't forward it to others. When something doesn’t look right, it’s tempting to ask someone else for a second opinion. But forwarding a suspicious email spreads potential risk. If it’s malicious, you’ve just exposed someone else to the same threat and increased the chances that someone clicks.
Now that we've gone over what not to do, here's what you should do with a suspicious email. You should report it right away. The most important step is also the simplest: report the email using the email service's report option or if you are at work, your organization’s security tools. Once you've reported it, leave it alone. Don't click it, don't reply, and don't download it.
If you're unsure if the email is malicious, it is best practice to ignore it. If you receive an email at work that you are unsure of, reach out to your organization's IT team. It’s always better to ask than guess. There’s no downside to being cautious.
Trust your instincts when it comes to spotting suspicious emails. Watch out for common warning signs such as urgent messaging, like language pressuring you to act now. Other warning signs include unusual requests such as asking for login credentials or gift cards and inconsistencies in the email like typos or odd formatting.
In a fast-paced day, it’s easy to click first and think later. But when it comes to email security, a few seconds of pause can save you a lot of trouble. No need to overanalyze or investigate on your own. Just avoid the common pitfalls, follow the process, and let the experts take it from there. Staying secure is about being aware, cautious, and consistent.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
The college funding space is always changing which can create new challenges for students and parents as they venture forward with their higher education planning. In this episode, Micha Sabovik, Vice President, Growth & Lending Solutions at Granite Edvance, shares important updates on what's new in the student lending space, upcoming changes to be aware of and strategies students and parents can follow to choose the right funding for their higher education.
Links:
- Access free resources, book one-on-one appointments, and find links to helpful tools and guides: https://graniteedvance.org/plan-your-journey/get-our-help/
- Explore financial aid resources: https://graniteedvance.org/find-your-direction/resource-library/
- Check out Granite Edvance's YouTube Channel: https://www.youtube.com/@GraniteEdvance
- Get official FAFSA forms and helpful wizards to determine dependency status and required contributors: https://studentaid.gov/
- Check out TCU University for financial education tips and resources: https://triangleuniversity.org/
- Learn more about Triangle Credit Union: https://www.trianglecu.org/
Update: The topic of changes to the federal direct loan program related to professional degrees was discussed on this podcast; since the recording, the effective date of these changes has been put on indefinite hold pending the outcome of certain litigation that is referenced in the podcast. Depending on the outcome of that litigation, these program changes may differ from the description on the podcast or could be struck down altogether.
Disclaimer: The views, thoughts, and opinions expressed are the speaker’s own and do not represent the views, thoughts, and opinions of Granite Edvance. The material and information presented here is for general information purposes only and is believed to be materially accurate at the time of this recording; however, information presented is subject to change without notice and should not be construed as a commitment by Granite Edvance. For current information about our products and services, please see our website at graniteedvance.org.
As the United States approaches its 250th birthday, it’s a meaningful time to reflect on independence—and how it shows up in everyday life. Beyond the national celebration, this milestone is also an opportunity to take one practical step toward greater financial confidence, flexibility, and peace of mind.
Links:
- Download our $250 Stars Stripes and Savings Challenge Tracker to start saving now!
- Stars, Stripes & Savings - $5 Increment Tracker
- Stars, Stripes & Savings - $10 Increment Tracker
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial independence does not have to mean retiring early or reaching one perfect number. For many people, it starts with having breathing room: savings for the unexpected, less reliance on high-interest debt, and more choices when life changes. This year, celebrate freedom by building habits that help you feel more prepared for the future.
What Is Financial Independence?
At its core, financial independence means having enough savings, income, and/or investments to support your needs without relying entirely on your next paycheck. It does not necessarily mean never working again. Instead, it means having more room to make choices that fit your life.
That goal looks different for everyone. For some, it may mean building an emergency fund or paying down debt. For others, it may mean preparing for a career change, taking time off, or supporting a loved one without added financial strain. No matter your starting point, the goal is the same: more stability, confidence, and peace of mind.
Why Financial Independence Matters
Just as our nation’s independence allows us to shape our future, financial independence gives you the ability to shape yours. It does so in a few specific ways.
It Reflects the Spirit of Freedom
A strong savings habit can help you become less dependent on circumstances beyond your control. It supports the same values often associated with independence: preparation, resilience, and the ability to move forward with confidence.
It Reduces Financial Stress
Unexpected expenses are part of life. Having savings and a plan in place can ease anxiety and help you navigate challenges with more preparation and less stress.
It Expands Your Opportunities
When your finances are in a strong position, doors open. You may find yourself able to:
- Explore new career paths
- Start a business
- Spend more time with loved ones
- Invest in experiences that matter most
It Builds Long-Term Security
A financial cushion can help protect you from job changes, rising costs, emergency repairs, or medical expenses. Even a modest amount saved can provide stability when the unexpected happens.
How to Begin Your Journey
Starting your path to financial independence does not have to feel overwhelming. Consider beginning with a few simple steps:
- Define your goal. Decide what financial independence means for you right now, such as saving for emergencies, reducing debt, or feeling more in control of monthly expenses.
- Build a starter safety net. Set a realistic first savings target and work toward it consistently. Some make this their first $5,000, some $1,000, and for others it may be closer to $500. Whatever you choose, make sure it’s realistic for your personal situation right now.
- Automate your progress. Consider recurring transfers or direct deposit so saving becomes part of your routine.
- Reduce high-interest debt. Paying down costly balances can free up money for future goals.
- Track and celebrate milestones. Small wins help build momentum and keep your goal visible.
Stars, Stripes & Savings: $250 Independence Challenge
One simple way to begin is with our Stars, Stripes & Savings $250 Challenge. In honor of America’s 250th birthday, this challenge breaks a $250 savings goal into small manageable steps of just a few dollars each. There are two challenges to pick from. One is set up for twenty-five, $10 increments, great for adults, while the other is set up for fifty, $5 increments, perfect for kids!
This year, as the country celebrates 250 years of independence, use the moment to establish your own financial independence day. Start small, stay consistent, and let each step create more confidence in your future.
Download the Stars, Stripes & Savings Independence Day Challenge tracker and start today. Save your first $5 or $10, mark your first star, and build momentum one step at a time! Feeling gutsy, try doing both to save $500 total. Share the challenge with family and friends, track your progress, and celebrate each milestone along the way.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Summer is an exciting time, and for many, the perfect time to get out and do some traveling. While you're enjoying the fun of planning, searching, and packing, remember that identity thieves and scammers are still out there plotting ways to trip you up and gain access to your personal information.
Links:
- Learn more about the identity protection benefits with a Better Checking account
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Summer travel season is upon us, and it can come with a lot of excitement and a lot of distractions. That’s exactly when people slip up with their personal information without realizing it. A few simple habits can make a big difference in keeping your identity safe while you’re preparing to head out on the road. Don’t let identity thieves ruin your summer plans. Before you pack, post, or travel, review these guidelines to help protect your identity against scammers and identity thieves.
Be careful what you share online
It’s easy to overshare without meaning to. Posting your travel plans gives scammers more information than you think. Be mindful of what you share on social media. Sharing details like birthdays, travel plans, or even pet names can give scammers the clues they need to guess passwords or impersonate you. A few extra seconds of caution can help protect your accounts and your identity. Even a photo of a boarding pass can expose details someone can use to get into your accounts. Share the moment, not the specifics.
Avoid logging into sensitive accounts on public Wi‑Fi
Airports, hotels, and coffee shops are convenient, but the Wi‑Fi is often wide open. Open networks are convenient, but they’re also easier for criminals to intercept. Anyone on the same network can try to snoop. If you need to check something important (banking, email, anything with personal information), use your phone’s hotspot or wait until you’re on a secure connection.
Keep your devices locked down
Travel days can be chaotic. Phones get left on seats, laptops get forgotten at security, and backpacks get unzipped without anyone noticing. A strong passcode, a biometric (face or fingerprint) lock, and “find my device” turned on can save you a lot of stress if something goes missing.
Watch out for “urgent” messages
Travelers have been known to get fake vacation deals, fake airline alerts, fake hotel confirmations, and fake texts about “suspicious activity.” If a message pressures you to “act now” or “click immediately,” or threatens that your account will be closed or reservation will be cancelled, pause and take a moment before you take action. Go directly to the official website or app instead of engaging with these “urgent” messages. And remember, Triangle Credit Union will never pressure you with “urgent” messages demanding immediate action.
Don’t carry every document with you
When you’re traveling, leave things like your Social Security card, passport (unless you need it), and birth certificate at home. The fewer important documents you have on you, the less you can lose.
Shred anything with personal details
Travel planning can often bring a pile of mail filled with offers, pre-approvals, and random “welcome” packets. As you evaluate what to keep and what to discard, remember that anything with your name, address, or financial information should be shredded before you add it to the recycling or trash can. It sounds small, but dumpster diving for personal information is still a thing.
Use strong, unique passwords
If you’re new to traveling, you’re probably creating new accounts. Use passwords that are long, unique, and hard to guess; think of a mix of letters, numbers, and symbols rather than personal details like birthdays or names. At the same time, avoid recycling the same password across multiple accounts. Taking a few minutes to strengthen your passwords today can help protect your accounts from fraud tomorrow.
Check your accounts regularly
A quick weekly look at your bank accounts, credit card activity, and email security settings can help you catch something early. Many times, identity theft starts with tiny, easy‑to‑miss charges. Reviewing your accounts on a routine basis is one of the strongest defenses against identity theft. Spotting unfamiliar charges or changes early allows you to act quickly and limit potential damage.
Be mindful with travel documents
Don’t leave boarding passes, hotel key sleeves, or rental car paperwork lying around. They often contain barcodes or account numbers that can be scanned or photographed. Lost or stolen travel documents can give fraudsters the information they need to open accounts or impersonate you, so a little extra care can go a long way to help protect your identity.
Summer travel should feel fun, not stressful. A few small habits can help you keep your identity safe while you enjoy the moment. But even when you do everything right, identity theft can still strike. If you suspect you’re a victim, contact us - even if it’s not related to your account at Triangle.Remember that if you have a Better Checking account, it comes with access to a professional, certified Identity Theft Recovery Advocate who can work with you one-on-one to identify and resolve identity theft or fraud and return your identity and your accounts to pre-event status. Visit trianglecu.org today to learn about the protective benefits of a Better Checking or use the link in the show notes.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
What if saving money didn’t require giving up the things you enjoy—but simply changing how you manage what you already earn? The truth is, small, intentional habits can quietly build significant wealth over time. By putting the right systems in place, you can make saving feel effortless instead of overwhelming.
Links:
- Track your savings goals with Goal Builder
- Explore some other saving challenges to make saving fun
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Saving money doesn’t have to feel restrictive. With the right strategies you can steadily build financial security without drastically changing your lifestyle. Whether you're just getting started or looking to improve your current habits, these 5 practical approaches can help you save more efficiently and consistently.
Number 1: Automate savings with direct deposit.
One of the simplest and most effective ways to save money is to remove the need for decision-making altogether. Automating your savings ensures that a portion of your income is set aside before you have the chance to spend it.
Many employers allow you to split your direct deposit into multiple accounts. By directing a percentage of each paycheck into a dedicated savings account, you create a "pay yourself first" system. This method builds savings effortlessly and reduces the temptation to spend.
Even small automated contributions of 5-10% or $25-$50 a paycheck can add up significantly over time, especially when paired with interest-earning accounts.
Number 2: Set up a savings goal tracker.
Having a clear savings goal gives your efforts purpose and direction. Whether you're saving for an emergency fund, a vacation, or a large purchase, tracking your progress helps you stay motivated.
A savings tracker can be as simple as a spreadsheet, mobile app, or visual chart. For more sophisticated tracking try an online banking tool like Triangle’s Goal Builder tool within online and mobile banking. Seeing your progress grow over time reinforces positive financial behavior and keeps you accountable.
To make tracking more fun, break your larger goals into smaller milestones. For example, instead of focusing on saving $10,000, focus on and celebrate reaching every $1,000 mark. These smaller wins make the process feel achievable and rewarding.
Number 3: Try a savings challenge.
Savings challenges are a fun and structured way to build momentum. They turn saving into a game, making it more engaging and less of a chore.
Popular challenges include:
- The 52-week challenge, where you gradually increase your savings each week or save a certain amount of money each week for a whole year
- The no-spend challenge, where you limit discretionary purchases for a set period
- The round-up method, where purchases are rounded up and the difference is saved
- The 100-envelope challenge, where you save a specified dollar amount in every envelope until they’re all filled
These challenges not only boost your savings but also increase awareness of your spending habits. Over time, they can help you develop long-term discipline and smarter financial choices.
For more ideas on additional savings challenges visit triangleuniversity.org or follow the link in the show notes.
Number 4: Seek out high-yield savings accounts.
Not all savings accounts are created equal. Traditional accounts often offer minimal interest, while high-yield savings accounts provide significantly better returns.
By keeping your money in a high-yield account, you allow your savings to grow passively through compound interest. Even modest interest rates can make a noticeable difference over time, especially with consistent contributions.
When comparing accounts, consider:
- Interest rates (APY)
- Fees
- Minimum balance requirements to open the account or earn interest
- Ease of access
Choosing the right high-yield savings account ensures your money is working as hard as you do.
Number 5: Make use of employer benefits like FSAs and HSAs.
Employer-sponsored benefits such as Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) can be powerful tools for saving money, particularly on healthcare expenses.
These accounts allow you to set aside pre-tax income, effectively reducing your taxable income and increasing your take-home value. HSAs, in particular, offer long-term advantages since unused funds can roll over year after year and even be invested.
By planning for expected medical costs using these accounts, you can avoid dipping into your regular savings and maximize your financial efficiency.
Saving money effectively isn’t about making drastic sacrifices—it’s about building smart, sustainable habits. By automating your savings, tracking goals, engaging in challenges, maximizing interest, and leveraging available benefits, you can steadily grow your financial security.
Start small, stay consistent, and remember: every dollar saved is a step closer to your financial goals.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Getting into great financial shape is no joke. It takes planning and intention to put together a plan that will work for your own personal journey. This is why it’s important to take time to have a financial planning conversation. If you haven’t taken the time to chat with a financial professional about your future, this tip will highlight a few reasons why now is a great time to do so.
Links:
- Learn more about Triangle's Financial Planning Services
- Learn how you're doing financially with our short Financial Wellness Assessment
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When most people think about financial planning, a few familiar moments come to mind: that long-since forgotten New Year’s resolution in January, the hectic tax season in early spring, or the rush to make moves before year‑end. But for young adults and young families especially, This month is one of the smartest—and most underappreciated—times to have a financial planning conversation.
Here’s why this time of year creates a valuable opportunity to review your finances, adjust your goals, and build confidence before life gets busier.
Tax Season Is Over, and Your Financial Picture Is Clearer
By this time of year, tax season is finally behind you. That alone makes it an ideal time to step back and look at the big picture without deadlines looming.
For young professionals and growing families, this is when:
- Your income details are fresh and accurate
- You can see how bonuses, job changes, or side income affected your taxes
- Any surprises—good or bad—are still top of mind
Instead of reacting to tax results, a June planning conversation allows you to learn from them. Whether it’s adjusting withholding, rethinking savings strategies, or planning for future life changes, you’re making decisions with real numbers in hand.
A Natural Mid‑Year Checkpoint (Without the Pressure)
June sits at a natural pause point in the year. You’re not racing to hit New Year’s goals, and you’re not yet overwhelmed by fall schedules or holiday planning.
This makes it a perfect moment to ask:
- Are we saving what we intended to save this year?
- Has our spending shifted as our lifestyle changed?
- Are we still comfortable with our debt and monthly obligations?
For young families juggling daycare costs, mortgage payments, or student loans—and young adults balancing rent, savings, and career moves—small course corrections made now can prevent bigger problems later.
Summer Spending Is Here
Summer often brings higher spending, especially for families. Travel, camps, childcare changes, weddings, home projects, and even higher utility bills can quietly strain cash flow.
Planning now helps you:
- Set realistic expectations for summer expenses
- Decide what’s worth spending on—and what isn’t
- Protect savings goals while still enjoying the season
Instead of relying on credit cards or feeling guilty about spending later, you enter summer with clarity and intention.
Big Life Changes Often Happen This Time of Year
For many young adults and families, spring and early summer are full of transitions:
- Graduations and new jobs
- Moves or first home purchases
- Growing families or childcare changes
- Career shifts or entrepreneurship plans
These milestones are exciting—but they also impact cash flow, benefits, insurance, and long‑term goals. A financial planning conversation in June helps you connect today’s changes to tomorrow’s stability, rather than reacting after the fact.
Markets and Interest Rates Don’t Pause for Summer
While it’s tempting to mentally “check out” once warmer weather arrives, financial markets and economic conditions continue moving.
June is a smart time to:
- Revisit your investment mix and risk comfort level
- Review how interest rates affect your savings, student loans, or mortgage
- Stay focused on long‑term goals instead of short‑term headlines
For younger investors especially, planning is less about timing the market and more about building consistent, sustainable habits early.
It’s Easier to Focus Before Life Gets Busier
Once summer is in full swing, calendars fill quickly. Vacations, family commitments, and back‑to‑school planning can make financial conversations feel rushed—or get pushed off entirely.
In June:
- Schedules tend to be more manageable
- Conversations are calmer and more thoughtful
- There’s time to consider options instead of making snap decisions
That breathing room leads to better outcomes and less stress.
Planning Now Creates Momentum, Not Panic
One of the biggest benefits of scheduling a financial planning conversation in May is what it prevents later: year-end scrambling.
By taking action now, you:
- Spread decisions out over time
- Avoid last-minute pressure in the fall
- Give your goals time to compound rather than compress
For young adults and families still building their financial foundation, this kind of proactive momentum can be transformative.
The Bottom Line
Financial planning isn’t just for major milestones or looming deadlines—and it doesn’t have to wait until January or December. This time of year offers a practical, low‑pressure opportunity to pause, reflect, and plan ahead.
Whether you’re managing your first “real” paycheck, navigating family expenses, or preparing for your next big life move, a conversation now can bring clarity, confidence, and peace of mind for the rest of the year.
Sometimes, the smartest financial decision isn’t what you do—it’s when you start the conversation.
Triangle is proud to offer financial planning services as part of our commitment to member success. If you’re interested in sitting down to start the conversation, visit trianglecu.org or follow the link in the show notes to learn more and get in touch with one of our financial planning professionals.
If you’re not quite ready for the conversation yet, but are just curious about your financial health, take our free financial wellness assessment to get an idea of where you’re at. It’s free, only takes a couple minutes to answer the questions and you’ll get a quick result sent right to your inbox. Give it a shot now at trianglecu.org or follow the link in the show notes.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Identity theft criminals highly target some of the most vulnerable individuals in our communities. With a growing increase in identity fraud and other scams today, it’s critical that we do our parts to protect those in our lives most at risk of identity scams and especially elder abuse.
Links:
- Learn more and get helpful resources from the Consumer Financial Protection Bureau (CFPB)
- To learn more about how to recognize, help prevent, and respond to elder mistreatment, visit the National Center on Elder Abuse
- Learn more about the identity protection benefits with a Better Checking account
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
At Triangle, protecting the financial well-being of you and your loved ones is a top priority. June is Elder Abuse Awareness Month, a time to raise awareness of the financial exploitation and other forms of abuse that disproportionately affect older adults. Elder abuse can take many forms. It could be physical, emotional, or financial, and it could be due to neglect or due to exploitation. Often, elder abuse goes unreported due to fear, shame, or isolation.
Did you know?
Financial exploitation is the most common form of elder abuse—and it often goes unnoticed until significant damage is done. Scams, fraud, and even manipulation by trusted individuals can leave lifelong financial and emotional impacts.
How you can help:
Learn the warning signs of financial abuse
Financial abuse doesn’t always look obvious—and that’s what makes it so dangerous. It can start subtly: a sudden spike in withdrawals or transfers, unfamiliar charges, or changes in spending patterns that just don’t seem to add up. You might notice unpaid bills piling up—even though your loved one has more than enough money to cover them. Other warning signs include new names appearing on accounts, unexpected changes to wills or power of attorney, or unfamiliar individuals accompanying your loved one to financial appointments and speaking on their behalf.
Trust your instincts—if something feels off, it’s worth taking a closer look. Staying informed about these red flags is one of the most powerful ways to step in early and help protect someone you care about.
Learn more about common ways older adults may be at risk and get access to helpful resources from the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov or use the link in the show notes.
Check in regularly with older family members
Consistent, meaningful connection is one of the strongest defenses against financial exploitation. Social isolation can make older adults more vulnerable—not just to scams, but to manipulation by people they trust. That’s why regular check-ins matter so much.
These don’t have to be formal conversations about money. A simple phone call, a coffee visit, or asking how things are going can open the door for your loved one to share concerns. Over time, these check-ins build trust and create a safe environment where they feel comfortable speaking up if something doesn’t seem right. It’s not just about vigilance—it’s about showing care, maintaining dignity, and helping them feel supported every step of the way.
Report suspicious financial activity
If you notice something unusual—whether it’s account activity that doesn’t make sense or changes in behavior that raise concern—don’t wait. Acting quickly can prevent further loss and protect your loved one from deeper harm.
Start by contacting your financial institution to flag the activity—they can often help monitor accounts, stop transactions, or add safeguards. You can also reach out to your local Adult Protective Services, who are trained to investigate and intervene in cases of suspected abuse.
Speaking up might feel uncomfortable, but it can make a critical difference. Reporting concerns is not about causing trouble—it’s about protecting someone’s well-being and ensuring they have the support they need.
Together, we can help protect the financial independence and dignity of older adults in our community. To learn more about how to recognize, help prevent, and respond to elder mistreatment, visit the National Center on Elder Abuse at elderjustice.usc.edu or check the link in the show notes.
Need help or have concerns? Our staff is trained to recognize signs of financial abuse. Call us at (800) 276-2470 or visit your nearest branch for confidential support. If you suspect an older adult in your life has fallen victim to a scam or identity theft, contact us. If you’re a member with a Better Checking account, you have access to identity theft recovery services for up to three generations of your family, including your parents if they live with you. Check out our website, trianglecu.org for more information about the amazing benefits you and eligible family members can get with a Better Checking account.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
With fuel prices constantly rising, many people are looking for ways to save money on gas. Fortunately, there are practical ways to cut down on gas costs without buying a new car or drastically changing your lifestyle. Let’s break down some smart, realistic strategies that actually work.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Let’s start with driving habits, because this is where many people lose money without realizing it. Things like speeding, rapid acceleration, and hard braking can lower your gas mileage by as much as 10 to 40%, especially in stop-and-go traffic. Driving smoothly and staying close to the speed limit can make a noticeable difference. It’s estimated that every 5 mph over 50 mph is like paying an extra 28 cents per gallon.
Next, don’t skip basic vehicle maintenance. This one isn’t flashy, but it matters. Keeping your car in good shape helps it run more efficiently and burn less fuel. For example, underinflated tires increase rolling resistance and force your engine to work harder. Proper tire pressure alone can improve gas mileage by up to 3%. Using the manufacturer-recommended motor oil and replacing dirty air filters can also improve fuel efficiency by 1–10%, depending on the vehicle. Small fixes really do add up.
Another way to save on gas is to plan out trips and combine errands. Fuel waste often happens before you even start the car. Making multiple short trips—especially with a cold engine—uses more gas than one longer, combined trip. Try planning routes ahead of time and combining errands whenever possible. Using navigation apps to avoid traffic and construction can also save fuel by reducing idle time and stop-and-go driving. Less time on the road means less money spent at the pump.
One of the easiest ways to save money on gas is simply not overpaying for it. Apps like GasBuddy, Waze, and Upside let drivers compare real-time gas prices in their area. GasBuddy alone reports helping users save billions collectively by showing the cheapest stations nearby and offering per-gallon discounts through its Pay with GasBuddy program. Many drivers save anywhere from 10 to 30 cents per gallon, which adds up quickly over a year.
Here’s one people overlook: extra weight and drag cost you money. Carrying unnecessary items in your trunk or using a roof rack when you don’t need it makes your engine work harder. It’s estimated that fuel economy drops about 1% for every 100 pounds of extra weight. Removing roof racks when not in use can also improve highway mileage by reducing aerodynamic drag.
Saving money on gas doesn’t require extreme changes—it’s about stacking small, smart habits. Drive smoothly, keep your car maintained, plan your trips, and take advantage of fuel-saving apps and tools. Over time, those few cents per gallon can turn into hundreds of dollars back in your pocket every year. And that’s money better spent on literally anything else than your gas tank.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
In this episode we chat with Doug Mitchell and Jeff Carpentier from Nashua Community College (NCC) to discuss their aviation and air traffic control program. Doug and Jeff highlight the program's popularity and the need for air traffic controllers due to a current 4,000-controller shortage.
Learn more about NCC's air traffic control program: https://nashuacc.edu/program/air-traffic-control-2/
Explore more programs and resources at NCC: https://nashuacc.edu/
Learn more about Triangle Credit Union: https://www.trianglecu.org/
Check out TCU University for financial education tips and resources: https://triangleuniversity.org/
Learn more about Triangle Credit Union: https://www.trianglecu.org/
AD: Adventure Awaits! Learn more about our competitive auto rates: https://www.trianglecu.org/borrow/auto/
As people gear up for travel, home projects, tax deadlines, and outdoor events, scammers ramp up their efforts to exploit the seasonal rush. From too-good-to-be-true deals to impersonation schemes that feel alarmingly convincing, these tactics evolve every year and catch even savvy consumers off guard.
Links:
- Learn more about the Identity Theft protection tools with a Better Checking account
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
In this tip, I’m going to highlight the top five scams to watch for this spring, how they typically unfold, and the warning signs that help you protect your accounts, your identity, and your financial peace of mind.
Unclaimed Funds
Have you received an unexpected phone call with the unexpected news that you’re entitled to hundreds or thousands of dollars in unclaimed property? More likely than not, this is a phishing scam. The scammers are counting on you to take the bait and provide your personal information or payment details under pressure. Remember, legitimate government agencies won’t call or text asking for personal information to release your unclaimed property. Instead, you can visit https://unclaimed.org/search to see if any unclaimed funds can be returned to you.
Mortgage or Debt Relief Offers
Just like unclaimed funds and unclaimed property scams, fraudulent mortgage and debt relief offers are on the rise. If the offer is unexpected and requires payment upfront, it is more than likely a scam. Other signs of a scam can include urgency related to the timing of the transaction: if you don’t act immediately, you can’t take advantage of this offer later. Scammers often ask for payment right away, but it’s illegal for debt or mortgage relief companies to charge a fee before you receive their services. Remember, if you are having trouble paying your mortgage or other debts, reach out to the companies that you owe money, and explain your unique situation. Often you can work with lenders and creditors to develop a payment plan. You can find legitimate help from housing and credit counselors as well.
Unpaid Traffic Violations
Did you receive a text, phone call, or letter advising that you have unpaid traffic tickets or tolls? Many times, these messages are threatening and rely on you to act quickly under pressure to remediate the issue. To make matters worse, scammers are taking advantage of artificial intelligence to make false notifications appear to look legitimate. For example, letters can include a fraudulent copy of an agency’s seal or can mimic a court-ordered collections notice. Some letters even include a QR code to collect payment. If you receive one of these communications, reach out directly to the agency in question using a publicly available phone number to confirm the authenticity of the message you received.
False Safety Recall
Another scam making the rounds this spring is product recall notices. Scammers are sending fake texts impersonating popular retailers and advising of “urgent” product recalls. Many times, these text messages include a link to a website that looks a lot like the actual retailer’s website, but it’s designed for you to enter your personal information, sending it directly to the scammer. Generally, retailers will post safety notices directly on their platforms and will not send unsolicited text messages related to recalls or refunds. If you have registered a product with the manufacturer when you purchased it, actual recall notices will be delivered to you by mail or the email you used during product registration. Learn more about active product recalls at recalls.gov and cpsc.gov.
Weather Relief Scams
This time of year often brings severe weather to many parts of the country. In turn, this means that scammers are ready to target victims eager to complete storm-related repairs quickly. Stay skeptical of contractors who reach out to you directly, as it’s common for unlicensed contractors to target recovery zones – always ask for copies of their license, insurance, and a contract in writing before taking action. Make sure to use trusted resources to see what others are saying about contractors or funding resources. Seeking multiple estimates or quotes for services can be critical to help ensure you’re getting a fair deal and that you are comparing equivalent work, materials, and timelines for repairs. Finally, pay by check or with credit card; other payment methods such as cash, cryptocurrency, wire transfer, gift cards, or a payment app can make it challenging to recover your money if it’s a scam.
Scams can be unsettling, but with vigilance and the tips above, you can help protect yourself and your data. Always remember that when in doubt, take a step back and verify before you act. If something sounds too good to be true, it probably is.
If you suspect you may have fallen victim to a scam like this, or you suspect identity theft for any other reason, we have you covered! With Better Checking account, you have access to Fully Managed Identity Theft Recovery Services. We can provide a professional Identity Theft Recovery Advocate to help you remediate identity fraud and rescue your good name!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Today we’re talking about something that hits almost all of us the moment the temperatures rise: summer spending. Between cooling the house, planning outings, and trying to squeeze in a little fun, costs can creep up fast. But the good news is that saving money this summer doesn’t have to feel like a punishment — it can actually feel empowering, even enjoyable.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Let’s start with the big one: keeping your home cool without melting your budget. One of the most effective ways to cut summer energy costs is simply making sure your home isn’t leaking cool air. Proper insulation and sealing gaps around windows and doors can help keep the cold air in and the hot air out, reducing the workload on your AC and lowering your energy bills.
And speaking of AC, maintaining it is one of the easiest ways to save money. Cleaning or replacing filters regularly helps your system run more efficiently and prevents it from working harder than it needs to. That means less energy used and fewer surprise repair bills.
But you don’t have to rely on AC alone. Fans can make a room feel cooler by circulating air and opening windows during cooler parts of the day and closing them when the heat kicks in can also help regulate indoor temperatures naturally.
Now let’s talk about summer activities, because this is where budgets often go off the rails. You don’t need a pricey vacation to enjoy the season. In fact, exploring local destinations or planning a staycation can save you a significant amount of money while still giving you that sense of escape. Many communities host free or low‑cost events that offer plenty of entertainment without the hefty price tag, such as concerts, festivals, and outdoor movies.
If you are traveling, timing matters. Traveling during off‑peak periods can lead to lower prices on flights, hotels, and attractions. And don’t underestimate the value of rediscovering your own area — sometimes the best adventures are right in your backyard.
Another area where summer spending spikes is food. Between barbecues, picnics, and the temptation to eat out more often, food costs can add up quickly. Cooking at home can save you money and make meals feel more special. Seasonal fruits and vegetables are often cheaper, fresher, and tastier, making them perfect for simple summer dishes. If you want to take it a step further, consider starting a small garden. Even a few herbs or vegetables can cut grocery costs and give you a fun summer hobby.
Let’s shift to transportation, because gas prices often rise in the summer and they are already high enough. Running errands on the same day instead of spreading them out can help you use less fuel. Keeping your tires properly inflated improves gas mileage, and filling up early in the week when prices tend to be lower can save you a few dollars each time. Using rewards programs or cashback apps can also help offset fuel costs.
Finally, let’s talk about budgeting, because even the best tips won’t help if you don’t have a plan. Creating a summer‑specific budget allows you to anticipate higher expenses like utilities, travel, or events and set realistic limits for them. A clear budget helps you prioritize what matters most and avoid the stress of overspending.
Summer is meant to be enjoyed, and saving money shouldn’t take away from that. With a few intentional choices, you can have a summer that’s both fun and financially smart. Here’s to a season full of sunshine, good memories, and a little extra money left in your pocket!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Spring is a season of fresh starts. Closets get cleaned out, garages get organized, and routines reset after a long winter. But while many people focus on their homes, their finances often go untouched—because money habits tend to collect clutter just as easily.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
For many people, spring is an ideal time to reset financially. Life changes quickly at this stage, and small inefficiencies can quietly add stress or hold you back. A financial spring cleaning doesn’t require perfection or dramatic changes—it’s about reviewing what you have, cutting what no longer serves you, and optimizing what you keep. I’ll call this the three-step Financial Cleaning Plan: Review, Cut, and Optimize.
Before you cut or optimize anything, you need a clear picture of where you stand. Think of this as opening all the closet doors before deciding what stays.
With a clear overview established, let's begin the Financial Cleaning Plan with step one: Review.
Identify all income sources like primary checks, bonuses, commissions, and side income. Note any recent changes, such as job switches or raises. The key is understanding what actually comes in each month, which sets the foundation for every other decision you’ll make going forward.
Next, review your monthly spending patterns. Check where your money goes each month.
Scan the last two or three months of transactions and group expenses into two categories: Fixed expenses (rent, mortgage, childcare, insurance) and variable spending (food, entertainment, convenience purchases).
Don’t be alarmed if your variable expenses over the last few months come in a little higher than you thought. Winter often brings higher spending, and habits formed during busy seasons can linger longer than expected.
Check your debt balances. Make a list of all debts—credit cards, student loans, and auto loans. Record current balances, interest rates, and required monthly payments. Don’t get discouraged if your total debt balance gets you down. This part of the review isn’t about judgment. It’s about awareness.
Finally, review your savings and emergency funds. Check what you have set aside for unexpected expenses. Will your fund still cover many of the more common emergency expenses? Can it help out with an unexpected job loss? A sudden medical emergency, a quick home repair?
As life changes, families grow or careers evolve, the savings targets need to evolve too.
Alright, the first step was Review. The second step of our three-part plan is to cut:
Start by identifying what’s no longer serving you. Once you clearly see where your money goes, cutting becomes easier—and less emotional.
Start by reviewing your streaming platforms, app subscriptions, gyms, and delivery memberships. Remove or cancel any that haven't been used recently.
Watch for lifestyle creep. As income increases, spending often quietly follows. Look for convenience costs that climbed during hectic seasons and any spending that doesn’t align with your priorities or values.
Reduce high‑interest costs. Identify high‑interest credit card balances or unnecessary fees. Cut what you can to create relief.
Eliminate overlap. Identify multiple savings accounts, outdated insurance coverage, or redundant financial tools and remove those that add confusion to your financial plan.
Now we’re onto step three: Optimize—improve your finances so what remains works better for you.
One of the best optimization strategies is to automate your finances. Set up automated savings transfers, bill payments, and retirement contributions. The best part about this is that all you have to do is set it once, then let it run.
Review your savings goals. Adjust your emergency fund for lifestyle changes. Update short- and long-term savings priorities, such as travel, home projects, retirement, or education, and use an automatic savings tool to adjust the contributions to those funds.
Optimize by improving your debt strategy. Ask whether your current repayment plan still makes sense. Could refinancing lower the interest rate? Should higher‑interest balances be prioritized more aggressively? Does your strategy match your current cash flow? Would a debt consolidation move help? Make the right adjustments to answer these questions and consider taking steps towards active debt refinancing or consolidation if needed.
And finally, optimize any of your employer benefits. Take time to review your retirement plan contributions, any HSA or FSA use, and insurance choices. Confirm you are making the most of what is offered.
To wrap up, you don’t need a complete overhaul to feel in control. With review, cut, and optimize, head into warmer months with clarity and confidence.
In spring cleaning season, your finances deserve some attention, too. A little cleanup can leave you lighter, calmer, and more prepared for the future.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
A Home Equity Line of Credit can be an extremely useful tool to fund a variety of things in life. If you own a home, tapping into your home’s equity for projects, plans and expenses can be a smart way to cover costs. Keep listening for some helpful ways to use a home equity line of credit.
Links:
- Learn more about Triangle's HELOC program
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Your home isn’t just where life happens—it can also be one of your most powerful financial tools. A Home Equity Line of Credit (HELOC) lets you tap into the value you’ve already built, giving you flexible access to cash when you need it most. But too often, homeowners overlook just how strategic a HELOC can be when used thoughtfully. From upgrading your living space to unlocking new opportunities, the right move can turn your home’s equity into long-term gains. Here are four fantastic, smart, and practical ways to put a HELOC to work—and make your home work harder for you.
- Home repairs and renovations. Using a HELOC for home repairs or renovations allows you to reinvest directly into the asset that’s generating the equity in the first place—your home. Whether you’re updating a kitchen, replacing a roof, or adding a home office, these projects can improve both daily comfort and long-term property value. A HELOC is especially appealing because it typically offers lower interest rates than credit cards or personal loans, and you only borrow what you need as expenses arise. The flexibility of a revolving credit line also makes it easier to manage phased renovations or unexpected repair costs.
- Another great use of a HELOC is to fund education. Education is an investment that can pay dividends for decades, and a HELOC can be a cost-effective way to cover tuition and related expenses. Compared to private student loans, HELOCs often offer lower interest rates and more flexible repayment options. Homeowners may use a HELOC to fund a child’s college education, graduate school, or career-advancing certifications. The ability to draw funds as needed works well with semester-based tuition schedules. For families seeking an alternative to high-interest education loans, a HELOC provides flexibility without locking into rigid terms.
- A third great use is for important life events or major purchases. Life’s biggest moments—such as weddings, medical expenses, starting a business, or purchasing a recreational vehicle—often come with substantial costs. A HELOC provides access to funds when timing matters, without requiring you to drain savings or sell investments. Because it’s a revolving line of credit, you can borrow exactly what you need and repay it over time. Many homeowners choose HELOCs for major purchases due to lower interest rates compared to credit cards. This approach offers a practical way to cover large expenses while maintaining financial flexibility.
- A fourth great use is to use it for debt consolidation. A HELOC can be a powerful tool for simplifying and lowering high-interest debt. By consolidating credit cards, personal loans, or medical bills into one lower-interest payment, homeowners can potentially save thousands in interest over time. Managing a single monthly payment also makes budgeting easier and more predictable. Since HELOC rates are usually much lower than unsecured debt, more of each payment goes toward reducing the principal balance. For those feeling overwhelmed by multiple debts, a HELOC can provide a clear path toward financial breathing room—when used responsibly.
A HELOC isn’t just about access to extra cash—it’s about flexibility, opportunity, and smart financial planning. Whether you’re reinvesting in your home, investing in education, managing life’s major expenses, or regaining control of debt, the right use of a home’s equity can create meaningful long-term benefits. As with any financial decision, careful planning and disciplined repayment are key but when used wisely, a HELOC can help turn the equity you’ve built into a powerful resource for your next chapter.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
In this episode we chat with Sharleigh Thomson, Education Funding Specialist at Granite Edvance about non-loan financial aid options like scholarships, grants, and work-study opportunities.
Links:
- Access free resources, book one-on-one appointments, and find links to helpful tools and guides: https://graniteedvance.org/plan-your-journey/get-our-help/
- Get in touch with Granite Edvance: https://graniteedvance.org/about-us/contact-us/
- Book appointment: https://calendly.com/graniteedvance
- Explore various financial aid resources: https://graniteedvance.org/find-your-direction/resource-library/
- Check out Granite Edvance's YouTube Channel: https://www.youtube.com/@GraniteEdvance
- Get official FAFSA forms and helpful wizards to determine dependency status and required contributors: https://studentaid.gov/
- Check out TCU University for financial education tips and resources: https://triangleuniversity.org/
- Learn more about Triangle Credit Union: https://www.trianglecu.org/
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
If you’ve ever looked at your bank statement and wondered where all those fees came from or asked yourself if your money could be working a little harder, you’re not alone. Today, we’re talking about an option that a lot of people overlook: credit unions.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Credit unions might not have the flashy ads or giant skyscrapers of big banks, but they offer some serious advantages. Let’s break down what makes credit unions different and why banking at one could be a smart move for your financial future.
First things first: credit unions are member-owned, not-for-profit financial institutions. That sounds technical, but here’s what it means: when you join a credit union, you’re not just a customer; you’re an owner.
Unlike traditional banks, which exist to generate profits for shareholders, credit unions reinvest their earnings back into the institution. That often shows up in the form of lower fees, better interest rates, and improved services for members rather than profits going to investors.
This member-first structure shapes everything from customer service to lending decisions. Credit unions tend to take a more personal, relationship-based approach instead of treating members like account numbers.
One of the biggest reasons people switch to credit unions is simple, they have better rates. According to data from the National Credit Union Administration, credit unions consistently offer lower interest rates on loans, including auto loans, credit cards, and mortgages, while often paying higher dividends on savings accounts compared to banks.
For example, average interest rates on auto loans and credit cards are often significantly lower at credit unions. Over the life of a loan, that difference can save you hundreds or even thousands of dollars. Higher savings rates help your money grow faster, even if the difference seems small at first.
Where a lot of people feel burned by big banks is with fees. Monthly maintenance fees, overdraft fees, minimum balance requirements, and more, add up quickly. Credit unions generally charge fewer and lower fees because they’re not driven by profit goals. Many credit unions offer free checking accounts, lower overdraft penalties, and more flexible balance requirements than traditional banks. That means more of your money stays where it belongs: in your pocket.
Customer service isn’t just a buzzword for credit unions. Year after year, credit unions rank at the top for customer satisfaction. The American Customer Satisfaction Index regularly reports that credit unions outperform banks in overall satisfaction, including areas like courtesy of staff, trust, and transparency. That lines up with what many members experience, such as shorter wait times, local decision-making, and a genuine interest in helping members succeed financially.
Credit unions are deeply rooted in the communities they serve. Instead of funneling profits out of town or out of state, they often reinvest locally through small business loans, community programs, and financial education initiatives. By banking at a credit union, you’re not just improving your own financial situation, you’re helping support your local economy.
One common myth is that credit unions are less safe than banks. That’s simply not true. Federally insured credit unions protect member deposits up to $250,000 per account, just like banks do, only through the National Credit Union Administration instead of the FDIC. The bottom line is your money is just as secure.
So, are credit unions perfect for everyone? For people who value better rates, fewer fees, stronger service, and community impact, credit unions are absolutely worth considering. Banking doesn’t have to feel impersonal or expensive. Sometimes the best financial choice isn’t the biggest name, it’s the one that puts people first.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Who would have thought that children can be victims of identity theft? The sad truth is that kids become identity theft victims more often than we realize. If you’re concerned about the possibility of your child becoming a victim, keep listening, because we provide some helpful ways to safeguard their identities from thieves.
Links:
- Learn more about Triangle's Better Checking account with identity theft protection and to view your credit report and score
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Child identity theft isn’t something we often think about. However, it occurs more often than you might expect. According to Javelin’s Child Identity Fraud Report, child identity theft affects 1.25 million kids every year, which translates to about one in 50 children in America. When you see those numbers, it becomes apparent that we must act now to protect the children in our lives.
What Is Child Identity Theft?
According to the Federal Trade Commission, “Child identity theft happens when someone takes a child’s sensitive personal information and uses it to get services or benefits or to commit fraud. They might use your child’s Social Security number, name and address, or date of birth.”
Child identity theft happens for a multitude of reasons. The perpetrator could use this information to open a bank or credit card account, apply for government benefits, or even sign up for a utility service or rent a place to live. Much like other types of identity theft, it can be easy for this type of identity theft to remain undetected for months or even years.
How It Happens
As with adults, identity theft against children can be perpetrated through a variety of sources. Below we have listed some ways that children's personally identifiable information (PII) could be exposed and then potentially used for fraudulent purposes.
- Data Breaches. Kids’ personal identifying information is in so many places, and nothing is completely secure. Schools, doctors’ offices, and your home can all experience security breaches. After a child's confidential information or PII is exposed, whether the data breach incident is accidental or with malicious intent, the security breach cannot be undone. Often, criminals will wait to utilize confiscated information for their own purposes.
- Familial Fraud. Three out of four cases of child identity theft come from those close to the victim, in what is known as familial fraud, and often occur in correlation with other forms of abuse, according to Javelin's Child Identity Fraud Report. Kids are often more trusting than adults, especially when they know the person who is asking for their information. Unscrupulous individuals at times utilize the PII of their own children, or children they know through family or friends, for their own benefit.
- Phishing. These scams don’t just target adults. Children that use the internet without parental supervision have a higher chance of giving their sensitive information to a scammer, not realizing that they are being tricked. Kids don’t always know not to share their birth date, place of birth, and passwords with strangers or online “friends.”
- Hacking. As more children have their own devices, and often multiple devices (computers, tablets, and phones), hacking becomes more common. Hackers can gain access to the information stored on these devices and can also log in to social media accounts, which they could use to attempt to defraud friends and family, acting as your child.
Warning Signs of Child Identity Theft
Regardless of the way the information makes it into the hands of identity thieves, below are some warning signs that your child's identity may have been stolen:
- Unexpected Mail. Your child begins receiving credit card offers, collection notices, or bills under their name.
- Collection Calls. You or your family members begin to receive calls from collection agencies for unpaid bills in your child's name.
- Government Benefits Denials. Your child is denied government benefits because they are already being claimed, when this is not the case.
- IRS Notifications. The IRS contacts you or your child about your child owing taxes or indicates that their SSN was used on another tax return.
How You Can Help Protect Your Children
The best way to help protect your family from identity theft is to be proactive in helping to prevent it. The most effective preventative measure is education. This type of education will not only help protect them now, but it is information that will benefit them as adults.
Keep Important Documents in a Secure Location. Keep your family’s personal identifying information in a secure place in your home, be selective about what services you sign up for, and don’t give your information unless it is necessary. Make sure that any important documents in your home, such as Social Security cards, birth certificates, or other legal documents, are stored securely to avoid compromise.
Share Personal Information with Caution. Assess the need before listing your child’s Social Security number (SSN) on forms. Schools and school break camps shouldn’t be using it as the only unique ID for each child. If an SSN is required, don't be afraid to ask if it's ok to share only the last 4 digits of your child's SSN.
Educate Your Child. Talk to your child about the importance of privacy and the dangers of sharing personal information online and offline. Ensure that your child isn't sharing personal information like their birthdate, address, or school on social media, other online platforms, or with other individuals without your permission.
Secure Your Mail. If you're sending or receiving mail with personal details, especially if those personal details pertain to your children, consider using a mailbox that locks or opt for electronic delivery. Retrieve your mail daily as soon as possible. Consider opting into the U.S. Postal Service’s “Informed Delivery” service. It’s free to sign up, and it will provide a Daily Digest email that will preview your mail and packages scheduled to arrive soon, along with an image of each of your incoming letter-sized mail pieces. This will help you stay vigilant if any missing mail never arrives.
Discard Unnecessary Documents with Care. If you have postal mail or other important documents that you no longer need to keep on file, make sure that you use a cross-cut shredder to securely destroy the paperwork. Criminals can engage in "dumpster diving" to retrieve discarded paperwork with personal information, potentially compromising you and your family.
Monitor Your Child's Personal Information. If you have Triangle’s Better Checking, you and your family are covered with dark web monitoring. This benefit monitors your personal information and any registered credentials. You have the option to add additional credentials in your secure account as well; you could consider adding your child's SSN or other identifiers to monitor any potential compromise or exposure on the dark web.
Child identity theft can have long-lasting consequences, potentially impacting your child's credit and future opportunities. By remaining vigilant, educating your child, and keeping a close eye on his or her personal information, you can help better protect your child from the impacts of identity theft.
While these recommendations are designed to help protect your children’s identities, they can apply to your own personal information as well. Remember to communicate with caution and treat all personal information with care, whether it belongs to you or your loved ones.
We Are Standing Ready to Help
If you suspect identity theft or you find your personal information has been compromised, you have access to a team of professional Identity Theft Recovery Advocates as a no-cost benefit of your Better Checking account. These professionals are trained and ready to help you reverse the damage and get back on track quickly. Our experienced advocates know how to spot identity theft and, when necessary, will support you through the process of repairing any damage.
If you suspect identity fraud has affected any member of your family, even your minor children, our team of Identity Theft Recovery Advocates is standing by, ready to support you and your family. They are experienced in spotting child identity theft and supporting you through the process of repairing the harm it may cause now and in the future.
If you do not currently have a Better Checking account, visit trianglecu.org/bank/checking to learn more.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Financial Literacy Month is the perfect opportunity to pause, reflect, and take meaningful steps toward a healthier relationship with money. In this tip, we’ll share five goals that outline simple, actionable steps that help you build financial stability, reduce money stress, and make smarter financial decisions.
Links:
- Watch our Budgeting 101 Webinar
- Learn more about saving with Triangle's Goal Builder tool
- Listen to our tip for some great financial books
- Learn more about Triangle's Better Checking account with identity theft protection and to view your credit report and score
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial literacy isn’t about having a high income or being an expert in investing—it’s about understanding the basics well enough to make confident, intentional decisions with your finances. Small, consistent actions can create powerful momentum over time, no matter where you’re starting from.
This Financial Literacy Month, try one or all of these goals for a stronger financial future.
- Develop your budget system.
A budget isn’t about restriction—it’s about awareness and intention. Having a clear system for tracking income and expenses allows you to tell your money where to go instead of wondering where it went. Whether you prefer a spreadsheet, an app, or the envelope method, the “best” budget is the one you’ll actually use consistently. A solid budget forms the foundation for every other financial goal, from saving to debt payoff. This month, choose one budgeting method today and hold your first budge meeting. Not sure where to start? Check out our budgeting basics webinar on YouTube for actionable steps and a workable budget sheet.
- Start that emergency fundand add your first deposit.
An emergency fund protects you from life’s surprises—car repairs, medical bills, or sudden income changes—without relying on credit cards. Even a small cushion can reduce financial stress and prevent debt from spiraling. The goal isn’t to save everything at once but to build the habit of saving consistently. Starting is the hardest part, and momentum builds from there.
This month, open a dedicated savings account and deposit your first $25–$100. Consider using a tool like Triangle’s Goal Builder to select the account and track the saving.
- Read at least on personal finance book.
Financial literacy grows with knowledge, and books provide structured guidance that social media often can’t. Reading just one solid personal finance book can shift how you think about money, risk, and long-term planning. Learning from experts helps you avoid costly mistakes and adopt proven strategies. Education is one of the highest-return investments you can make.
Pick one reputable personal finance book and commit to reading it over the course of the month. We have some past tips with a list of a few good ones if you’re looking for a little inspiration. Not a reader? Try an audio book or a financial-themed webinar on YouTube.
- Put an extra payment towards one debt.
Debt can quietly drain your future income through interest, especially on high-interest balances. Making an extra payment—even a small one—reduces both your balance and the total interest you’ll pay over time. This step also builds confidence by proving you can actively make progress. Psychological wins matter just as much as mathematical ones.
Choose one debt and make one additional payment toward the principal this month.
- Check your credit score and report.
Your credit score affects everything from loan approvals to interest rates and housing options. Regularly reviewing your credit report helps you catch errors, spot fraud early, and understand what factors influence your score. Many people avoid checking their credit due to fear, but knowledge is empowering. Awareness gives you the opportunity to improve.
Pull your free credit report and score this month and review it for accuracy. There are a few well-known websites out there you can use, or if you have a Better Checking account at Triangle, you can access it through the Better Checking app.
So, to recap, your goals to try this month are, choose a budget method, set up an emergency fund, read a personal finance book, put one extra payment towards a debt, check your credit score and report.
Take charge this financial literacy month, and start out on the right track to a better financial future.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Making smart choices with your money doesn’t have to mean giving up the things you enjoy. By adopting a few practical frugal habits, you can stretch your budget further, reduce financial stress, and build a stronger foundation for long-term savings.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Saving money can be tough. It takes planning, discipline, and dedication. Still, with some careful planning, frugality, and creativity, you can make it work.
There are ways to adjust your daily choices toward more frugal options to boost your savings game. If you try out some of these frugal habits, you may find yourself saving money faster than you thought.
- Cook more at home, dine out less.
Cooking at home has a lot of benefits. It’s usually healthier because you control the ingredients, so there are fewer additives. It also helps you spend less on food. Even though grocery costs are still high, you can ensure savings by choosing meals carefully and keeping recipes simple. Complicated meals with special ingredients can get expensive and might leave you buying things you rarely use.
Don’t plan too many different meals in one week. Cooking something new every night can create leftovers that might go to waste. Plan a few nights for eating leftovers to save time and avoid wasting food.
Learn which foods can be used as substitutes. This way, you can use what you already have at home instead of making extra trips to the store.
Cook in bulk and freeze for later meals. Try making a double batch of something to freeze for later use. This works especially well for casseroles, meatballs, and even soups.
Turn saving money into a fun challenge. For example, try the Pantry Challenge: see if you can make meals using only what’s already in your fridge or pantry, without going to the store.
- Reuse and repurpose when you can
Repurposing items gives old things new life, helps the environment by reducing waste, and saves you from buying new stuff. Try finding ways to reuse items around your home. For example, use old t-shirts as cleaning rags or paper towel substitutes. Empty glass jars and shoeboxes make great storage containers; old sheets and towels can be used as drop cloths or cleaning cloths; wine corks, or cardboard are useful for homemade cork boards; paper egg cartons make great seed starters .and reusing gift bags and tissue paper can help you save, as long as they’re not damaged.
There are many more ideas out there. For more inspiration, search online or check out Pinterest. Try searching for “recycled crafts,” “repurposed items,” or “upcycling ideas” to find creative ways to turn old things into something useful.
- Check your library for free stuff.
Our local libraries provide some amazing resources. They offer a wide range of free resources, including audiobooks, learning platforms, streaming services, and more. Some also have their own programs to rent items like cameras, game consoles, and other gear, and to share programs like a seed exchange where members can take and share seeds for their vegetable or flower gardens – all for free! It’s also worth noting that most libraries will offer passes to nearby attractions for a discount on admission – although it’s not 100% free, it’s still a savings opportunity.
- Do more things at home.
Try having date nights at home instead of going out. There are plenty of ways to make a fun and relaxing evening at home. If you enjoy spending time with friends, host a game night, movie night, or music night. Let your imagination guide you.
- Use coupons and rewards programs.
Don’t miss out on chances to save. Check for coupons and look at your grocery store’s deals flyer when making your shopping list. Sign up for rewards programs that offer cash back—you could save a lot over time. Browser extensions like Edge, Honey, and others can also help, but make sure to do your own research. We are not endorsing any specific products.
- Buy used items when possible.
Try to buy used items first. Books, clothes, and many other things can be a good deal if they’re in good condition. Check out apps like Facebook Marketplace, eBay, Poshmark, and others for gently used items. You can even find outdoor gear like bikes, kayaks, or scooters used.
These are just a few ideas to get you started. If you have a frugal habit that’s helped you, share it with us on social media. Let us know how you save money every day—your tips could inspire others to save more too.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Local businesses-- they’re the lifeblood of our communities, providing our towns and cities with services, places, and products that keep us running every day. Take some time to appreciate the local businesses that serve your community on National Mom and Pop Business Owners Day.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Every year on March 29, National Mom and Pop Business Day invites us to pause and appreciate the small, family‑owned shops that give our communities character, creativity, and connection. These businesses—whether a corner bakery, boutique, repair shop, café, or specialty store—represent far more than a transaction. They’re the backbone of neighborhoods, the spark behind innovation, and the heart of local economies.
This year, as shoppers and communities adjust to rapid shifts in retail and technology, supporting local businesses has never been more significant. Here are some compelling ways to support your local businesses this National Mom and Pop Business Day.
- Choose Local Businesses Over Big Corporations
The clearest—and most significant—way to champion local businesses is to choose them over big-box retailers or national chains, even if it costs a bit more. Small businesses depend on your purchases to meet expenses, retain employees, and continue offering the products or services you rely on. Large chains may have lower prices, but shopping locally keeps your money in the community and directly benefits the people who serve you. Sometimes, a small premium makes a vital difference in helping a neighborhood business prosper.
- Follow and Engage With Your Favorites on Social Media
Social media engagement is more than just numbers —like followers, shares, or comments—it’s a powerful tool for growing small businesses. By liking, commenting on, and sharing content from your favorite local shops, you raise their online profile. Interaction improves their visibility in algorithms, allowing new customers to discover them. A quick comment or share takes seconds but can powerfully boost a small business’s ability to connect with its community.
- Refer Local Businesses to Friends and Family
One of the best contributions you can make to a small business is a sincere referral. If you’ve enjoyed a great experience, don’t keep it private—tell your friends, family, coworkers, and neighbors. When someone needs a product or service, recommend a local alternative. Word-of-mouth recommendations remain among the strongest drivers of new business for small shops and often outperform advertising. Beyond spending money with them, sharing your positive experience is one of the most effective ways to help them grow.
- Sign Up for Email Newsletters and Rewards Programs
Following a business on social media is helpful, but signing up for their email newsletter takes your support to another level. Emails allow businesses to share tailored offers, exclusive discounts, new product launches, and updates on local events—many of which never make it to social media. You’ll be the first to hear what they’re up to, and they gain a reliable way to stay connected with their customers. Along this same note, if they offer a reward or loyalty program, join in! These programs not only give you perks, but they also help ensure you continue returning and showing love to the businesses you care about.
Supporting your local businesses is a meaningful and worthwhile investment that benefits the entire community. This upcoming National Mom and Pop Business Day, make a thoughtful effort to show appreciation for the small businesses in your area that work every day to keep the community thriving.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In this episode we discuss the current affordability challenges faced by many, with a focus on rising costs of living. We share personal experiences, such as the high cost of groceries and housing as well as some strategies to cope that include budgeting, refinancing loans, and reducing discretionary spending.
Links:
- (Ad) Learn more about Triangle's special auto refinance rate: https://www.trianglecu.org/borrow/auto/
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
In today's digital age, safeguarding your personal and financial information is more crucial than ever. With cyber threats growing more sophisticated and online platforms collecting more data than we often realize, the risk of identity theft, fraud, and privacy breaches continues to rise. Understanding how to protect yourself isn’t just a best practice anymore; it’s an essential skill for navigating modern life with confidence and security.
Links:
- Learn more about Triangle's Better Checking account with ID Protect
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
In today's digital age, safeguarding your personal and financial information is more crucial than ever. As your trusted financial institution, Triangle Credit Union is committed to providing you with the tools and knowledge needed to help protect your accounts. One of the most effective ways to enhance the security of your accounts - financial and non-financial - is to follow and maintain healthy password habits. Here are a few tips that can help you secure your accounts and help protect your personal information.
- Create Strong and Unique Passwords
A strong password is your first line of defense against cyber threats. Follow these guidelines in creating a robust password:
- Length Matters: Aim for at least 12 characters. Longer passwords can be harder to crack.
- Mix It Up: Use a combination of upper-case and lower-case letters, numbers, and special characters.
- Avoid Common Words: Steer clear of easily guessable words and phrases like "password," "123456," “Aa123456”, "qwerty" or any combination of these. Other common passwords include “admin”, “P@ssw0rd” and all ones or all zeros.
- Unique to Each Account: Use different passwords for different accounts. This way, if one password is compromised, your other accounts remain secure.
- Use a Password Manager
Remembering multiple complex passwords can be challenging. A password manager can help you store and manage your passwords securely. These tools can generate strong passwords for you and automatically populate them when needed so that you don't have to remember each one. Remember to do your homework before you trust a third-party password manager application.
- Enable Multi-Factor Authentication (MFA)
Multi-Factor Authentication, sometimes referred to as Two-Factor Authentication or 2FA, adds an extra layer of security by requiring two or more verification methods to access your account. This could be something you know (password), in combination with something you have (a smartphone or security token), or something you are (fingerprint or facial recognition). Enabling MFA can significantly reduce the risk of unauthorized access to your account by validating your identity through more than one authentication method when you log in.
- Regularly Update Your Passwords
Changing your passwords periodically is a good security practice. Aim to update your passwords every three to six months. Regular updates can help protect your accounts from the impact of data breaches, if your username and password are ever compromised. If you receive a notification that your information could have been compromised, that’s also a good reminder to update your passwords.
- Be Wary of Phishing Scams
Phishing scams are fraudulent attempts to obtain your personal information by pretending to be a trustworthy entity. Be cautious of emails, messages, or websites that ask for your password or other sensitive information. Always verify the source before providing any details. By staying aware, you can avoid unwittingly providing your password (and access to your accounts) to scammers or identity thieves.
At TCU your security is our top priority. By following these tips and creating healthy password habits, you can significantly reduce the risk of unauthorized access to your accounts. While cybersecurity threats are constantly evolving, remember that a strong password is your first line of defense. Stay vigilant and proactive in protecting your personal and financial information.
Regularly checking your account activity can help you spot any unusual transactions or unauthorized access early. If you notice anything suspicious, contact us. If you have a Better Checking account you have access to a professional, certified Identity Theft Recovery Advocate who can work with you one-on-one to identify and resolve identity theft or fraud and return your identity and your accounts to pre-event status.
And always remember never share your passwords with anyone! When fraudsters, claiming to be from your financial institution's fraud department, hang up the phone and call your credit union or bank to check on your accounts and report the fraud attempt. While we do call members occassionally to verify account activity, we will never ask for passwords to your accounts.
For more information and resources on online security, please visit our website or contact our customer service team. We're here to help you stay safe and secure.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Medical costs and insurance premiums keep going up. Fortunately, there are some steps you can take to minimize the effects of rising costs. This tip will discuss how Health Savings Accounts (HSAs) can help you manage some of those expenses and save money.
Links:
- Learn more about Tringle's Health Savings Accounts
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Let’s start by explaining what an HSA is. HSA stands for Health Savings Account and is very similar to a personal savings account, but money saved in the account must be used to pay for health care expenses (there is an exception to that, which will be covered in a bit). The good news is this is your money, so you get to control how the funds are spent and for which medical expenses.
You can open an HSA if you have a high-deductible health plan (HDHP). You can’t if you’re on Medicare, TRICARE, TRICARE for Life, or are listed as someone else’s dependent for taxes. If you’re self-employed and have an HDHP, you can get an HSA. If you switch jobs, your HSA stays with you.
Since we've discussed high-deductible health plans, let’s define an HDHP. In 2026, the IRS sets the minimum deductible at $1,700 for individuals or $3,400 for families. The total yearly out-of-pocket costs, including deductibles, copays, and coinsurance, cannot exceed $8,500 for individuals or $17,000 for families.
There are many benefits to having an HSA. One of the most notable is the tax savings. HSA contributions are made before taxes, so they’re deducted from your total income when it comes time to file. In 2026, the IRS lets you put in $4,400 for individual coverage or $8,750 for family coverage. If you’re 55 or older, you can add an extra $1,000 each year until you turn 65 or enroll in Medicare. This extra amount is called a catch-up contribution. Money you take out of your HSA is tax-free if you use it for qualified medical expenses, no matter your age. Plus, any money your HSA earns is also tax-free.
With an HSA, you also save on premiums. Most high-deductible health plans have lower premiums, so you can put your savings into your HSA. Use your HSA to pay for any medical expense, including coinsurance, copays, and your deductible.
Your HSA is your money. You own all the money in your HSA, even if your employer contributed, and you keep it if you change jobs, lose coverage, or retire. Your balance rolls over yearly and never expires. If you are 65 or older or disabled, you can withdraw funds for non-medical use without penalty. Using your HSA is easy. Open one at a bank or credit union to get a debit card. Use it to pay for expenses like copays, deductibles, and prescriptions.
If you’re interested in getting started with your own HSA, there are multiple ways to contribute. For a list of ways you can contribute and a transcript of this money tip, check out "Helpful Hints about HSAs at triangleuniversity.org.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Eligibility and contribution limits are set by the IRS and may change. This information is for educational purposes and isn’t tax advice—please consult a qualified tax professional. Insured by the NCUA.
Urgent Fraud Message: Stay Alert and Vigilant Against New Scam Tactics
When conflict happens in the world, the effect can spread in ways beyond the immediate active zone. Times of turmoil often create opportunities for scammers to take advantage of unsuspecting victims due to fear, confusion, or panic. An increase in tensions has been known to boost fraud activity, making it imperative that you keep your guard up now more than ever.
Links:
- If you suspect fraud activity, contact Triangle Member Services
- Stay up to date on Fraud Alerts
- Check out TCU University for fraud tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
This is an urgent fraud message from the Making Money Personal podcast
Due to the ongoing conflict involving Iran and heightened global tensions, cybersecurity experts are warning that scammers may attempt to take advantage of the situation to target individuals and financial institutions. During times of international conflict, cybercriminals often increase phishing emails, fraudulent messages, and other online scams designed to trick people into sharing personal or financial information.
Our credit union wants to remind members to remain vigilant and take extra precautions when receiving unexpected emails, text messages, or phone calls—especially those claiming to be related to international events, government programs, financial relief, or urgent security alerts.
We can’t stress it enough that you keep your guards up, so you don’t fall for any of these scams. Some of the common ones to watch for may include:
- Emails or text messages pretending to be from your financial institution asking you to “verify” your account information.
- Messages with links claiming to provide urgent updates about the conflict or financial markets.
- Fraudulent donation requests claiming to support humanitarian efforts.
- Phone calls pretending to be from banks, government agencies, or law enforcement requesting personal or financial information.
How to protect yourself:
- Do not click links or download attachments from unknown or suspicious messages.
- Never provide your online banking credentials, passwords, or verification codes to anyone.
- Verify suspicious communications by contacting your financial institution directly using official contact information.
- Monitor your accounts regularly and report any suspicious activity immediately.
Our credit union will never ask for your password, PIN, or full account details through email, text, or unsolicited phone calls.
If you believe you have received a suspicious message or may have been targeted by a scam, please contact our Member Services team immediately.
Your security remains our top priority.
Please share this important message with your friends and family as a reminder to stay alert and guard against today’s dangerous and sophisticated scams.
To stay up to date on news or important updates regarding scams, follow us on social media and visit our website trianglecu.org. Also, for more fraud awareness education and identity protection resources visit TCU university at triangleuniversity.org.
Thanks for tuning in to this very important message.
Stay alert and stay safe everyone!
Every day there are stories and alerts shared of new scams reminding us that the fraud landscape changes quickly. To stay safe, it’s important to build good habits, improve your digital security, and use helpful tools to avoid, report, and recover from scams.
Links:
- Explore more resources for Consumer Protection Week
- Report scams at Identitytheft.gov
- Know your rights as a consumer when recovering from identity theft
- Explorer Triangle's Better Checking account with ID Protect
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
**Note: Better Checking is not an insurance product.
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
It’s National Consumer Protection Week (NCPW), a time of year devoted to maintaining personal security and fighting fraud. Hosted by the Federal Trade Commission (FTC), this important awareness week was established to help people better understand their consumer rights and take proactive steps to protect themselves.
This year, the FTC’s message is clear: Avoid. Report. Recover. Practicing these three steps regularly can make you much more resilient to today’s fraud tactics.
In this tip, we’ll explain more about how you can “stay faster than fraud” by putting these actions into practice.
The first action, Avoid, is a reminder to help spot the fraud before it causes you to act.
Scammers rely on urgency. They want you to react fast instead of thinking things through. To avoid scams, try making small changes, like pausing before clicking a link, checking if a request is real, and seeing urgency as a warning sign. These quick pauses can help you avoid falling for scams.
Another way to avoid fraud is to learn about the types of scams that target consumers. Scams are always changing, so it’s important to stay up to date. Common scams include identity theft, impostor scams, job scams, and phishing. They also use current events to make their tricks seem more believable. Looking ahead, experts warn that in 2026, scammers are expected to use new hooks tailored to economic anxiety, like relief‑payment scams, bogus job offers, and highly personalized AI‑powered impersonation schemes. Knowing these patterns and warning signs ahead of time helps protect you and others from becoming the next victim.
Keep in mind that fraudsters also take advantage of digital weaknesses, so it’s important to strengthen your security. Use strong, unique passwords with a trusted password manager, turn on multi-factor authentication when you can, keep your devices and software updated, and avoid doing financial transactions on public Wi-Fi. These steps greatly lower your risk of account takeovers and data theft.
And of course, it’s important not to share too much personal information on social media or respond to unexpected requests for details. Scammers may send emails or texts that look like they’re from people or organizations you trust. Being careful and a bit skeptical helps keep your information safe.
The next part of the FTC’s action plan is to report any scams you encounter.
Many people don’t report scams because they think it won’t help. But the FTC says the opposite is true. Reporting scams helps spot trends, guide enforcement, and warn others about new threats. Sharing your experience helps the fight against fraud.
For identity theft cases, the FTC offers a dedicated resource website: IdentityTheft.gov. This one‑stop site hosts a collection of resources for consumers to use to report fraud. The site can help you generate an official FTC Identity Theft Report and provides a customized recovery plan, both of which are extremely useful when working with companies to dispute fraudulent activity.
Experts say that many fraud cases go unreported and scams are getting more advanced. Reporting scams not only helps you take back control, it also raises awareness and protects your community.
The last part of the FTC’s plan is recovery. This means using tools and steps to help people recover after experiencing fraud.
If you become a victim of fraud, recovery can seem overwhelming. The FTC provides tools to guide you step by step through closing compromised accounts, contacting affected businesses, and stopping further misuse. It’s no doubt that having a clear plan makes the process easier and faster.
Recovery also includes checking your credit reports often to spot any suspicious activity. If needed, you can set up fraud alerts or freeze your credit to stop new accounts from being opened in your name. This is a good reason to think about getting identity theft protection. There are many options available, and if you’re a Triangle member, you could consider a Triangle Better Checking account with ID Protect. For $4.99 a month, members get identity theft protection that includes identity monitoring, credit score tracking, credit reporting, a dedicated case manager, and reimbursement for recovery costs. See the link in the show notes for more details.
A final, important part of recovery is knowing your rights as a consumer if money goes missing. Many people don’t realize that you have specific rights when unauthorized transactions happen, including the right to ask your bank for reimbursement if money is taken without your approval. The Consumer Financial Protection Bureau (CFPB) shares resources that explain these protections, so victims don’t have to cover the losses themselves. If you want to learn more, check the link in the show notes.
When it comes to fighting fraud, you cannot sit on the sidelines. Start protecting yourself today. Review your habits, strengthen your security, and use new tools. Let Consumer Protection Week inspire you to act. Follow the FTC’s advice: Avoid, Report, and Recover. By practicing these steps, you’ll become more confident and resilient in a changing digital world.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
In 2026, true well-being isn't just about looking healthy or having money in the bank—it’s about strengthening both at the same time. Financial fitness and physical fitness share the same foundations: discipline, consistency, and smart daily choices that compound over time. By aligning how you move your body and manage your money, you can build a more energized, secure, and resilient future this year and beyond.
Links:
- Watch our debt reduction webinar on YouTube
- Explore our current high yield savings account options
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
At Triangle Credit Union, we understand that true prosperity extends beyond financial stability; it encompasses physical well-being as well. As your trusted financial partner, we are dedicated to not only safeguarding your financial health but also promoting your overall wellness. With this commitment in mind, we are pleased to share valuable reminders and tips to help you achieve and maintain both financial security and physical vitality. Let’s take the journey together.
Financial Health Tips:
- Budget Wisely: Take control of your finances by creating a monthly budget. Allocate funds for essential expenses, savings, and discretionary spending. Our online banking tool, Money Management, can help you track your expenses and stay on budget effortlessly.
- Save Regularly: Establishing an emergency fund is vital for financial security. Aim to save a portion of your income regularly, even if it's a small amount. Set up automatic transfers from your checking to your savings account using our convenient banking app.
- Manage Debt: High-interest debt can hinder your financial progress. Prioritize paying off debts strategically, starting with those carrying the highest interest rates. Consider consolidating debt or refinancing with our flexible loan options. Need more information on how to pay down your debt, check out our online webinar for resources! The link will be in the show notes.
- Invest for the Future: Build wealth over time by investing wisely. Explore our savings and CD options to find a tailored solution to your financial goals. We have professionals that are ready to help you make a plan and work toward your goals.
Physical Health Tips:
- Stay Active: Incorporate regular physical activity into your routine to boost your overall health. Whether it's a daily walk, yoga session, or gym workout, find activities you enjoy and stick to them. Consider tracking your progress on an app or other tools to see your progress accumulate and celebrate the small wins.
- Eat Well: Fuel your body with nutritious foods to support optimal health. Aim for a balanced diet rich in fruits, vegetables, lean proteins, and whole grains. With food prices seemingly high, eating healthy may not be as expensive as it may seem. With meal planning apps and budgeting tools, you can organize and manage all grocery expenses efficiently.
- Prioritize Sleep: Quality sleep is essential for physical and mental well-being. Aim for seven to eight hours of sleep per night and establish a relaxing bedtime routine.
- Save Time, Try Telehealth:Telehealth allows you to connect with healthcare providers remotely through your computer or phone,eliminating the need for in-person visits. These virtual appointments are conducted by certified medical professionals, addressing a wide range of everyday healthcare needs from the comfort of your home. Whether it's a consultation with a physician or mental health specialist, telehealth brings medical expertise directly to you when you need it.
True prosperity is achieved through a balance of financial stability and good health. By prioritizing both aspects of your well-being, you can live a happier, more fulfilling life. As your trusted financial partner, we're here to support you on your journey to financial and physical wellness. Together, let's build a brighter, healthier future for you and your family.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Is saving more money one of your New Year's resolutions this year? If so, beginning to save money can be overwhelming if you’re not sure where to start. Take the pressure off your financial goals by making saving fun with one of our savings challenges.
Links:
- Roll the Dice Savings Tracker template: https://triangleuniversity.org/wp-content/uploads/2025/04/Roll-the-Dice-Savings-Challenge.pdf
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Savings challenges are great for building consistent saving habits while also growing your savings accounts.
If you’re ready to crush your savings goals this year, these challenges are the perfect way to get it done! Here are four savings challenges you can start in 2026:
52 Week Envelope Challenge
This savings challenge combines the 52-week challenge with the 100-envelope challenge.
Instead of saving money chronologically (week 1 - $1, week 2 - $2, etc.) and depositing that amount into your savings account, you will fill out 52 envelopes—each with a dollar amount that corresponds with each week of the year.
Once you have your envelopes labeled, give them a quick shuffle to randomize them, then place them back in the box (or set them aside).
Each week, pull a random envelope from its place and save that amount. For example, if you pulled an envelope labeled $39, you would save $39 dollars that week.
If you are using cash, place the $39 in that envelope until the end of the year, or head to your local bank or credit union to deposit it. If you are completing this challenge with an online savings account, make sure to transfer the appropriate amount each week.
Pause Your Subscriptions
Streaming services, food delivery services, and product boxes are monthly subscriptions that most American consumers pay for; some people have multiple subscriptions for the same service-- for example, some consumers subscribe to both DoorDash’s DashPass and Uber Eats’ Uber One.
Too often, one signs up for a free trial with the intent to cancel before the free trial ends, only to forget and be charged for the service. If you’re not keeping an eye on your finances and tracking all your expenses diligently, you may be paying for subscriptions without even realizing it.
Take some time to review your bank accounts and credit card statements from the past few months and highlight any recurring charges. Then analyze the charges and decide which subscriptions could be paused or canceled temporarily. Maybe you subscribed to a streaming service to watch one show a few months but haven’t watched anything on that platform since; maybe you’ve decided to stop getting food delivered anyway, so you no longer need those subscriptions.
Pause or cancel any subscription you’re not currently using and put that money in your savings account or investments instead. You may even find that after a few months, you don’t miss those subscriptions anyway!
Roll-the-dice Challenge
Gamifying savings is a great way to turn something that might be stressful or scary into something entertaining and enjoyable!
This challenge is flexible and can be done daily, weekly, or monthly, depending on your goals and financial situation.
Simply roll a die and set aside the cash or transfer that amount to your savings account.
For example, if you roll a 1, save $1; if you roll a 6, save $6, etc.
Looking to save a little more each time? Roll a pair of dice (or one die twice) and save that amount.
Make sure you record your rolls and track your progress on our Roll-The-Dice savings tracker. made especially for this challenge. Link will be in the show notes
Create Your Own Savings Challenge
This challenge is great if any of the other savings' challenges don’t pique your interest OR if you are saving for something in particular-- such as a new car, an upcoming vacation, etc.
Creating your own savings challenge is easy!
Download our savings challenge template and fill it out with YOUR numbers.
For example, if you are saving up for a down payment on a new car, figure out how much you need to save up and record that on the savings challenge page. Then, divide that number by 10 and label each section of the savings challenge tracker—that is how much you will save at a time in order to cross off sections of the tracker.
Once the tracker is filled out completely, you will have the full amount needed for your car's down payment.
If saving money is one of your New Year's resolutions this year, we hope you’ll consider one of these savings challenges as a fun way to jump-start your savings goals.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
President’s Day is right around the corner, which means if you’re shopping for a car, you’re in luck! Dealerships across the country offer discounts for the President’s Day weekend, sometimes extending them for a week or more. If you’re planning on shopping these deals, now’s the chance to head to the dealership with confidence and a pre-approval.
Links:
- Get a great on your next pre-approval with Triangle
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Typically, Presidents’ Day sales are the first official sales events of the year. While this makes sense for dealerships experiencing a slump in auto sales during the cold winter months, this is also the perfect time for consumers who have recovered from the holiday season.
If you’re on the hunt for an auto deal this President’s Day, consider getting preapproved for an auto loan before setting foot into an auto dealership.
- Stay on Budget
Staying on budget is essential during the car-buying process. Before applying for an auto loan, you must outline your budget to make sure you have a clear understanding of how much you can afford.
Once you know how much you can afford, a preapproval is an extra step you can take to ensure you stay on budget, helping you go into the car-buying process as prepared as possible.
- Save Time at The Dealership
We’ve probably all been there. You go to the dealership expecting to test-drive a car, and the next thing you know, it’s been 3 hours, and you’re sitting in an office waiting for paperwork.
Wouldn’t it be nice if you could cut that time down so you can spend less time at the dealership and more time doing what YOU want?
If you go to the dealership with a preapproval in hand, you won’t have to sit there while they run your credit and search for auto loan rates, which saves you time in the end.
- Avoid Dealership Upsells
Another benefit of shopping for a car with a preapproval is being able to avoid dealer upsells and add-ons. A typical dealer tactic is to push buyers to sign up for extended warranties or other add-ons they typically aren’t interested in.
With a preapproval, you have a designated amount you are approved for; therefore, when dealers approach you with all the extras, you can shut it down by saying those extras do not fit within your approved amount.
What You Need to Get Preapproved
If you’re interested in getting preapproved before shopping for a car, here is what you should have prepared:
- Personal Information: Name, date of birth, Social Security number
- Housing Details: Address, how long you’ve lived at that address, monthly housing payment, information on whether you rent or own
- Income: Employment status, employer’s name, gross annual income
- Loan Details: Desired loan amount, desired length of loan
- Trade-in or Down Payment: Title and registration if trading in a vehicle or the amount of the down payment
If you’re on the hunt for a new or used car, now’s the time to start out strong with a pre-approval. We offer many affordable financing options and our competitive auto rates are here to help.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
We’re always looking for ways to save you all money, and with Valentine’s Day right around the corner, it’s so easy to go over budget, that is, if you even had one anyway. For those trying to dial back a little on spending this year, we’re sharing a few ways to celebrate Valentine’s Day without having to take out that credit card.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Valentine’s Day often comes with a lot of pressure—lavish dinners, expensive gifts, and grand gestures that can leave your wallet feeling less than romantic. But here’s the truth: love doesn’t have to come with a price tag. In fact, some of the most meaningful ways to show you care cost absolutely nothing. If you’re looking to celebrate without swiping your credit card or maybe minimizing its use, here are five heartfelt ideas that prove thoughtfulness beats extravagance every time.
- The Power of Personal Touch
Nothing says “I love you” quite like words straight from the heart. Instead of buying a pricey card, write a heartfelt letter or even a poem. Share your favorite memories, what you appreciate most about your partner, and your hopes for the future. Often it’s easy to splurge on candies or flowers, but if you’re cutting back on buying things this year, making something from the heart can be just as nice.
Trying something like a handwritten note feels personal and timeless—something they can treasure for years. Besides a handwritten letter or note, crafting something unique from scratch can be just as meaningful. For the creative folks, browse through ideas online from a site like Pinterest where you’ll find plenty of thoughtful homemade Valentine's crafts and gifts for your special someone.
- Quality Time Over Price Tags
Sometimes, the best gift is your undivided attention. Plan a tech-free evening where you both disconnect from screens and focus on each other. Screens are often distractions from the present moment, robbing us of the true value that comes with being together.
Make the holiday more special by offering your undivided attention and just spending time together. If you’re unsure what to do, try an idea like cooking a meal together using what you already have in the pantry. You could also take a walk under the stars and talk about your dreams, or you might enjoy dusting off a board game or card deck for some friendly competition. Quality time strengthens emotional bonds and creates lasting memories—no receipt required.
- Acts of Service Speak Volumes
Love isn’t just about words; it’s about actions. Doing something that makes your partner’s life easier can be incredibly romantic.
There are many times in life when acts of service are the perfect gift. For those who are busy and don’t have time to tackle common daily tasks, they can build up and cause much uneasiness or stress. For many loved ones this Valentine’s Day, something simple like an act of service might just be the perfect gift they’d been hoping for.
One idea could be to make your significant other breakfast in bed. You could tackle a chore they’ve been dreading or even organize a space they use often, like their desk or closet. To up the stakes and gain points, pick one task the night before and surprise them by morning.
Acts of service are beautiful gifts because they show thoughtfulness and effort, which often means more than any store-bought gift.
- Create Something Together
Shared creativity can be a powerful bonding experience. Instead of buying something, make something together. If you know your significant other is crafty and values building or creating, this may be the perfect Valentine's Day gift.
You could curate a playlist of songs that remind you of each other. You might enjoy baking cookies or trying a new recipe together or you could even start a photo album or scrapbook of your favorite moments. Collaborative projects create fun, laughter, and a sense of accomplishment—plus, you’ll have a keepsake to look back on.
- Memory-Making Experiences
Experiences often outshine material gifts. Plan a free adventure that gets you out of your routine. Depending on where you live, this option might be teeming with possibilities.
If the weather is good, go for a nature walk or hike in a local park. Check out free museum days or community events going on in the area. If you’d prefer not to leave the house, have a picnic at home or in your backyard with homemade snacks. Shared experiences deepen your connection, give you stories to tell for years to come, and will be worth their weight in memories.
Love isn’t measured in dollars—it’s measured in effort, thoughtfulness, and time. This Valentine’s Day, skip the stress of overspending and focus on what really matters: making your partner feel valued and appreciated. Try one (or all) of these ideas and see how meaningful a no-cost celebration can be.
Have a budget-friendly Valentine’s idea not mentioned in this tip? Go ahead and share it with your family, friends, or on social media—you might inspire someone else to celebrate love without breaking the bank.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
How often have you looked at your bank accounts and thought to yourself, “where did all my money go?”, or how many times have you felt buyers’ remorse after purchasing something? The truth is that it's way too easy to spend without noticing how much money is actually slipping away.
In this episode, we’ll talk about 7 common habits that cause people to waste money and share some tips on how to correct them.
Links:
- Check out Triangle's competitive Personal Loan and Auto Loan refinance rates to start saving money
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Many people believe they don’t have enough money because they don’t earn enough, but often the real issue is spending too much.
Most of us don’t spot wasteful spending right away. It can build up for different reasons and turn into a habit. If your habits aren’t helping, they could be hurting.
To make the most of your money, it helps to know where you might be wasting it. Here’s a list of a few wasteful habits that tend to drain our money.
The first one is throwing away food. Have you ever filled your fridge, only to toss out a lot of it a week later? This is a major way people waste money. If you want to cut waste, start here.
Fix this habit by making a food plan. Choose recipes for each meal, list the ingredients you need, and buy only those. Planning ahead keeps you organized and helps you use everything you buy rather than waste it.
Habit number two is spending too much on dining out. After a long day, it’s tempting to order takeout or eat out if you haven’t planned a meal. But eating out often adds up fast. With food, drinks, tip, and tax, you might spend more on one meal than it would cost to make several at home.
What can you do? Plan your at-home meals in advance and set a budget for dining out. This way, you'll have money set aside to spend on dining and can enjoy eating out without guilt.
Habit number three is impulse buying.
Impulse buying often happens for emotional reasons. If you buy more than you planned, that’s an impulse purchase. This can waste a lot of money, especially if you didn’t budget for it. To change this, try shopping in person with cash and bring a list—only buy what’s on it. If you shop online, use a debit card instead of a credit card. You’ll have to pay close attention to your spending because you’re limited by that account balance.
Habit number four is buying brand-name items when generic products work just as well.
People often spend more on brand names without noticing. Brand-name products can cost 20% to 30% more, even when generics work fine.
Look at the items you usually buy and see if the price difference is worth it. Many generic products, especially food products, contain the same ingredients. Do your research and choose what makes sense.
Habit number five is stocking up on too many things you don’t need. The Internet is full of people showing off their hauls—candles, body scrubs, food, sneakers, clothes, and more. Many of us like to collect things, but there’s a fine line between collecting and overbuying. Content creators, ads, and online messages often tempt us to buy things we think we’ll use but don’t really need. This can be wasteful, especially since some items, like cosmetics and beauty products, expire. If you stock too much, they may go bad before you get to use them.
Avoid this habit by sticking to a budget to help avoid overspending on things you don’t need. If you’re considering items that have a shelf life, be intentional to use up what you have before buying more.
Habit number six is paying unnoticed fees or subscriptions you don’t need.
How many subscriptions do you have? Can you keep track of them all? Have any gone up in price in the last six months or year? If you don’t keep track, you might end up paying more than you planned.
Avoid wasting money on fees and subscriptions by checking them regularly. Cancel the ones you don’t use or downgrade the plan if necessary. When it comes to late fees, check your account history for any missed payments. Companies will charge a fee when a payment isn’t made on time, so the best way to avoid these fees is to stay organized. Mark up a calendar or set alerts on your phone to stay on top of all payments and use auto pay tools to ensure the payment is made on time.
Wasteful habit number seven is paying high interest on loans. If you think you’re paying too much interest each month, you might be right. Interest rates change over time, and your rate could be higher than necessary.
To avoid this, consider refinancing your loans to get a lower interest rate. This can lower your monthly payments and free up a little cash. Check out Triangle Credit Union for the best refinance rates on auto loans, mortgages, home equity loans, personal loans, and more.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
With FTC and FBI reports showing billions lost to cybercrime in 2024, we stress the importance of vigilance, real‑time alerts, and identity protection tools. In this episode, we break down the rising threat of identity theft, from phone and email scams to crypto fraud and even AI-driven voice cloning. We also share personal experiences and practical advice to help listeners stay proactive and prevent fraud.
Links:
- Learn more about the identity theft protection benefits with Better Checking
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
*Better Checking is not an insurance product
As we step into a new year, now is the perfect time to start fresh-and that includes safeguarding yourself against tax identity theft. Everyone is at risk of falling victim to tax identity theft, and thousands of Americans are impacted by this crime each year. Fraudsters often target taxpayers early in the year, hoping to take advantage of the busy tax season preparations.
Links:
- Get started on this year's taxes, consider filing through IRS Free File Guided Tax Software
- IRS tips for finding a trustworthy tax professional
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
According to the IRS, tax-related identity theft occurs when someone uses your stolen personal information, including your Social Security number (SSN), to file a tax return claiming a fraudulent refund. A successful scammer can create an online return using your SSN, even if they don’t spell your name right. Once the fraudulent account is established, they can not only use it to file taxes on your behalf and receive your refund but also to receive future payments from the federal government. The criminals are adept at using accounts that funnel money into prepaid debit cards so that it is untraceable and unrecoverable.
Here are five tips to help you avoid becoming the next victim and help protect yourself against tax-related identity theft.
- Secure Your Personal Information.
Keep your Social Security number (SSN) or individual tax identification number (ITIN) in a secure location. When asked for these numbers, be skeptical and verify that it is a legitimate need. Additionally, keep your home computer security software up to date, and run regular software updates on your connected devices, including the seemingly less risky ones like smartwatches.
- File Your Taxes Early and Securely.
The sooner you submit your tax return, the harder it is for fraudsters to submit a fake one in your name. As soon as you have the necessary documentation, go ahead and take care of this right away. Always file taxes through a reputable service and use a secure internet connection if filing online; avoid transmitting such sensitive information through public Wi-Fi. You may consider filing through IRS Free File Guided Tax Software. If you feel more comfortable relying on a professional to prepare your tax return, choose your tax preparer with care.
- Monitor Your Financial Statements, Mail, and Email.
Regularly check account statements for any unusual activity. Your first sign of tax identity theft this season will usually be a letter from the IRS after filing your return, informing you that one has already been filed using your SSN. Year-round, expected payments that are not received are another sign to watch for. Also be mindful of any tax reporting documents from employers you have never worked with. Rather than ignoring them, follow up to ensure someone else hasn’t stolen your identity and taken a job using your information.
- Communicate with Caution.
Beware of unsolicited emails, phone calls, or text messages asking for personal information, and verify the source before you respond. Remember, the IRS will never initiate contact with taxpayers by email, text, or social media to request personal or financial information, including your taxpayer Identity Protection PIN, nor will they ever threaten lawsuits or arrest.
- Create an Online Account at the IRS Website.
Visit the IRS online account website (www.irs.gov) to create your account now and monitor it regularly. While a lot of personal information is required to create the account, once you have done so, you can monitor your tax activity throughout the year, including if a return has been filed in your name. Through your online IRS account, you can then request an Identity Protection PIN (IP PIN). Once established, the PIN must be included on your federal tax return in order for it to be processed as valid.
Remember, even with all these precautions, tax-related identity theft can still happen. That’s why Triangle Credit Union offers Fully Managed Identity Theft Recovery services for Better Checking account holders. If you suspect your identity has been compromised or you suspect identity theft for any reason, Identity Theft Recovery Advocates will help you recover and mitigate any damage. Learn more about Better Checking at trianglecu.org or click the link in the show notes.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
So many of us look over our finances in the new year, not only to look back on how much we spent during the holidays, but also to optimize our finances going forward. It's time to look at ways to free up some money this year and one of those ways might involve examining your existing auto loan.
Links:
- Get a great auto refinance offer with our limited time special refi rate
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The holidays might be over, but the spending continues. If you’re recovering from holiday spending, you’re probably tallying up the money you’ve spent, planned, and unplanned.
The good news is that now’s a great time to make adjustments that could save you some money and help you recover a little faster in the new year. One great adjustment you can consider is to refinance your current auto loan.
4 Reasons to Refinance Your Car This Winter
- Lower Your Monthly Payment
One of the benefits of refinancing your auto loan, when you qualify for a lower rate, is that your monthly payment can decrease, which means you will be saving more each month.
A little extra money each month is great, because it gives you more money that you can put towards debt, new year’s goals, or even just add to your savings.
With a lower monthly payment, you can start this New Year on a better financial path than before.
- 30-60 Day Deferred Payment option
Some lenders offer deferred loan payments for 30, 60, or up to 90 days after loan closing.
If this is something offered to you, refinancing your auto loan at this time could be the best choice.
Why? Well, delaying your loan payment for 1-3 months (depending on what is offered to you) can offset any large purchases you plan on making (or have made) and give your wallet some breathing room.
- Lower Interest Rate
Depending on when you financed your current car loan, it’s probable that either auto loan rates have fallen, or your credit score has improved, or both.
If that’s the case, you may qualify for an auto loan with a lower APR, which, over time, can reduce the amount you’d pay in interest on the loan.
- Shorter Term
Not everyone wants to refinance their auto loan for a lower monthly payment. If your current auto loan is longer than you’d like, consider refinancing for a shorter term.
Although this will raise your monthly payment, refinancing for a shorter term can benefit you in the long run by helping you pay off your debt sooner, and in the not so distant future, you could enjoy living without a car payment.
Auto refinancing is not a standard process for everyone, as each person has a unique situation.
If you find yourself wanting to refinance your car loan, Triangle Credit Union is offering a limited-time 4.99% APR* special. Visit our website for full terms and conditions and check the link in the show notes to apply online!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Though the Holiday season has just wound down and we’ve celebrated the arrival of a new year, this time of year is still peak season for cybercriminals and identity thieves.
Links:
- Explore sites Charity Navigator and Give.org to find trusted charity organizations
- Learn more about the benefits of a Better Checking account
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
With online shopping, traveling, and increased sharing of personal information, the risk of identity theft can rise dramatically this time of year. Follow these tips to help keep your identity safe and, in turn, keep this season, and your new year, stress-free.
- Safeguard Your Personal information
Whether you’re still shopping in-store or online or traveling to visit friends and family, limit the information that you share. Avoid oversharing and only provide the details necessary for a purchase or transaction. Shred any sensitive documents, since discarded holiday offers, receipts, and financial statements can be goldmines for thieves. Finally, stay vigilant of potential phishing scams. Ignore unsolicited emails or messages asking for personal details for payment information.
- Strengthen Your Digital Security
Cybercriminals ramp up their activities before and after the holidays. Keep your accounts secure and help protect your personal information by enhancing the security of your accounts and your devices. You can stay secure by keeping software up to date. Regular updates help patch vulnerabilities in your devices and the applications that you use. Additionally, when you enable Multi-Factor Authentication (MFA) you can significantly reduce the risk of unauthorized access to your account by validating your identity through more than one authentication method. And remember to use strong, unique passwords for each of your accounts.
- Watch Out for Charity Scams
While the season inspires generosity, it’s also exploited by scammers. Before you donate, take time to verify the charity’s legitimacy. Trusted sites like Charity Navigator and Give.org can help you identify and evaluate charity ratings and donor resources. Avoid donating through email or social media links and go directly to the charity’s official website.
- Secure Your Mail and Travel Plans
During this time of year, your mail and travel habits can expose you to risks. Hold your mail if you are traveling or ask a trusted neighbor to collect it. Beware of package theft, too. If you are unavailable to bring deliveries inside right away, consider using secure delivery options or pick-up lockers to keep your parcels safe. Additionally, if you’re traveling in the near future, be mindful about what you share. Advertising your absence or accidentally revealing sensitive data in photos, such as full name and date of birth, could increase your risk of identity theft and fraud.
At Triangle Credit Union, your security is our top priority. By following these tips now and throughout the year, you can significantly reduce the risk of becoming a victim of identity theft. Stay vigilant and proactive in looking after your personal and financial information.
If you suspect identity theft for any reason, contact us - even if it’s not related to your account at Triangle. If you have a Triangle Better Checking account, you have access to a professional, certified Identity Theft Recovery Advocate who can work with you one-on-one to identify and resolve identity theft or fraud and return your identity and your accounts to pre-event status.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
During the holiday time, we’re all shopping a lot in-person or online, and most of us are using credit or debit cards for convenience. If you're one of the many who prefer to use cards to pay, there are a host of reasons why storing your cards digitally in your phone’s mobile wallet increases efficiency and security, especially during the busy holiday season.
Links:
- Learn more about the benefits of Mobile Wallets
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you have a smartphone, you can use its mobile wallet feature to shop smarter and safer this year.
Here are a few reasons to load payment cards to your phone’s mobile wallet to use at your next check out.
Reason 1: Your transactions are secure.
When you set up your mobile wallet, your card details are protected by a PIN, fingerprint, or password, so only you can access them in the app.
When you pay, your phone uses near-field communication to connect with the terminal. This process encrypts your data and keeps your information safe.
Your credit card number is replaced with a random digital ID, called a token, so your actual card number isn’t shared when you pay.
If you’ve been unsure about paying with your phone because of security, rest assured that extra steps are in place to keep your transactions safe.
Reason 2: It’s more sanitary than using cash or cards.
Cash can carry a lot of germs since it passes through many hands. With everyone more aware of germs and viruses these days, especially during cold and flu season, using your mobile wallet means you don’t have to handle cash that’s been everywhere.
Reason 3: It’s much easier.
It can be frustrating to dig through your wallet or purse for a card. With a mobile wallet, you just open the app, pick your card, and hold your phone near the terminal. Since you’re often already holding your phone, you’re ready to pay right away.
Reason 4: It’s helpful if you forget your wallet.
Have you ever left your wallet at home or in the car? It doesn’t happen often, but it can. If your cards are in your mobile wallet, you have a backup if you forget your wallet or purse. Even if you don’t use it often, it’s worth setting up just in case you ever need it.
Mobile wallets are a great alternative to traditional wallets and can make shopping easier and more convenient.
Now might be a good time to give it a try if you haven’t already.
If you have other tips or topics you want us to talk about, email us at tcupodcast@trianglecu.org. Don’t forget to like and follow our Making Money Personal Facebook page, and check out our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holiday season can bring with it many surprises, some of which might come in the form of a holiday bonus. If you got a bonus or are expecting a bonus this time of year, hold off on spending it all right away, because there are a few ways to maximize that cash for some great financial benefits.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
A holiday bonus can feel like a windfall—a chance to splurge on gifts, vacations, or luxury items. But before you spend it all, consider this: that extra cash could be the key to building financial security and achieving your long-term goals. Here are five smart strategies to make your holiday bonus work for you.
- Pay Down High-Interest Debt
Credit card balances, personal loans, and even student loans all carry interest rates that can drain finances over time. If you’re looking to improve your financial health and free up future income, consider using your bonus, or a portion of it, to pay down some of that debt. Reducing debt not only lowers your monthly obligations but also improves your credit score and financial flexibility.
Unsure which debt to pay first? Start with the highest-interest debt first for maximum savings. If you have student loans, consider applying extra payments toward those not eligible for forgiveness programs. Even a small lump-sum payment can significantly reduce the total interest you’ll pay over the life of the loan.
- Build or Boost Your Emergency Fund
Life is unpredictable—medical bills, car repairs, or sudden job changes can happen anytime, and without a safety net, these surprises can lead to financial stress or debt. An emergency fund acts as a financial cushion, giving you peace of mind and stability when life throws curveballs. Experts recommend saving at least three to six months of living expenses in a separate, easily accessible savings account. This ensures you can cover essentials like housing, utilities, groceries, and transportation without relying on credit cards or loans. This is another great way to use some or all of that bonus money.
- Invest in Retirement Accounts
Your bonus can be a powerful tool to accelerate your retirement savings. Contributing to accounts like a 401(k), IRA, or Roth IRA not only helps secure your financial future but can also offers valuable tax advantages. The earlier you invest, the more you benefit from compound growth—your money earns interest, and that interest earns interest over time.
Look at your retirement contributions and if you haven’t maxed them out yet, consider putting a portion or all of your bonus money into your retirement account. Even small, consistent investments can grow significantly over decades, thanks to compounding. And remember—prioritizing retirement savings now means more flexibility and security later.
- Fund Short-Term Goals
Dreaming of a vacation, a home upgrade, or another big-ticket item? Your bonus can help you achieve these goals without relying on credit cards or loans. Using cash instead of borrowing keeps you out of debt and saves you from paying interest later. Start by identifying your top personal goal—whether it’s a family trip, a kitchen remodel, or a new tech gadget—and estimate the total cost. Then, earmark a portion of your bonus specifically for that purpose. This approach allows you to enjoy life’s luxuries guilt-free while staying financially responsible.
- Treat Yourself or Others
Being thoughtful about how to spend your bonus doesn’t mean cutting out all enjoyment for yourself. If you’re already a budgeting pro and have all the prior items I mentioned covered, then by all means, celebrate this time of year and feel free to use that bonus to get yourself or your family something special. After all, using it to celebrate yourself, your family, or those close to you can bring forth returns in other ways. Treating yourself can provide returns of self-satisfaction, care and personal healing while treating others can build bonds and create memories that’ll last for years to come.
If you have other tips or topics you want us to talk about, email us at tcupodcast@trianglecu.org. Don’t forget to like and follow our Making Money Personal Facebook page, and check out our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Saving money this time of year is almost impossible, but all is not lost! In this episode we discuss tips on some practical and helpful saving habits for the holidays.
Links:
- Save money ahead of time with Triangle's Goal Builder tool! https://triangleuniversity.org/goal-builder/
- Learn more about how a lower rate personal loan can help you with gift giving: https://www.trianglecu.org/borrow/personal/
- Ad: Learn more about Triangle's special auto refinance rate: https://www.trianglecu.org/borrow/auto/
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
The holidays bring a lot of excitement, but even with all the talk of cheer and togetherness, they can sometimes feel overwhelming. Luckily, there are simple and affordable ways to lower your stress and enjoy the season more.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
For most families, the holidays are a busy time. There’s gift planning, budgeting, gatherings, and then all the clean-up and organizing. It can feel like you’re being pulled in every direction, so it’s no surprise that stress and anxiety go up this time of year.
Taking care of your mental health can be tough, but it is possible. Here are a few ways you can look after your mental and physical health this season.
- If money is tight this year, try buying one gift for the whole family instead of individual gifts. This helps keep costs down and makes shopping less stressful. You don’t have to find the perfect gift for everyone—sometimes a group gift is just as fun and memorable.
- Don’t try to handle everything on your own. If you usually take on all the work, try asking others to help out. Hosting a potluck instead of making all the food yourself can ease your workload and lower your costs. It also gives you more time to relax and enjoy with your guests.
- Remember to rest and get some exercise. It doesn’t have to cost anything—just take a walk around your neighborhood or find a local trail. Enjoy some fresh air and give your mind a break from all the holiday planning and activities.
- Choose just a few simple events to attend. You don’t have to accept every invitation, whether in-person or online. It’s okay to say no and save yourself some stress. If you usually host big gatherings, consider a smaller get-together, like a movie night or cookie decorating.
- Don’t forget to play some music. Holiday songs are a great way to lift your spirits. Put on your favorites while you cook, wrap gifts, or spend time with family. It’s free and can really boost your mood.
- Stay organized and clear out clutter. This time of year, it’s easy for things to pile up. Getting rid of items you don’t use can help you relax and make space for new things. Donate what you no longer need—you’ll feel better, and someone else might benefit from your donation.
The holidays should be a time to relax and enjoy yourself. Don’t let stress take away your peace and joy. Take care of your mental health so you can make the most of the season.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
The holidays are busy. We’re all too often distracted by planning, shopping, and preparing that responsibly managing our money sometimes get pushed to the back burner. Fortunately, there are ways to maintain a bit of control during this time by being disciplined and preparing ahead.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The holiday season is a time for joy, family, and celebration—but it can also bring financial stress. Between gifts, decorations, and festive meals, expenses add up quickly. The good news? With a bit of planning and wise choices, you can enjoy the holidays without breaking the bank. Here are five easy strategies to help you save money this season.
- Make a Gift List and Prioritize
Before you start shopping, create a detailed gift list. Write down everyone you plan to buy for and rank the gifts by importance. Assign a spending limit for each person and make sure to stick to it. This approach keeps your spending intentional and helps you avoid impulse purchases that could derail your budget.
- Take Advantage of Seasonal Sales and Discounts
Timing is everything when it comes to holiday shopping. Plan your purchases around significant sales like Black Friday, Cyber Monday, and other holiday special events. If those big shopping days have already passed, you can still use price comparison tools and coupon apps to ensure you’re getting the best deal during the season. For essentials like wrapping paper or stocking stuffers, consider buying in bulk to save even more. Once the holidays are over, take advantage of post-holiday clearance events to purchase items at deeper discounts to use next year.
- Cut Back on Non-Essential Spending
Making small sacrifices today can pave the way for substantial savings down the line. Consider skipping those daily coffee runs, cutting back on dining out, or putting a temporary hold on subscriptions you can live without. By redirecting that money into your holiday fund, you’ll be surprised at how quickly it adds up! Even saving just $20 a week for a month can give you an extra $80 to spend on thoughtful gifts or festive celebrations. It’s all about making those little adjustments now to ensure a more joyful, stress-free holiday season later. Enjoy the extra financial freedom that comes with careful planning!
- Use Cashback and Rewards Programs
Maximize your holiday shopping experience by leveraging loyalty programs, credit card rewards, and cashback apps. Lots of retailers have awesome holiday deals that let you rack up points or get cash back on your purchases. These rewards can really make a difference—think about using them to give lovely gifts to your friends and family or to help cover other holiday costs. By taking advantage of these offers, you can stretch your budget further and make your shopping trip a lot more fun. So before you start loading up your cart, take a minute to check out all the rewards available to you and make this holiday season even better!
- DIY Gifts and Decorations
Homemade gifts and decorations are not only budget-friendly but also add a personal touch. Consider baking treats, crafting ornaments, or creating photo albums. These thoughtful gestures often mean more than store-bought items and can turn into fun family activities.
Saving for the holidays doesn’t have to be stressful. By planning, shopping smart, and getting creative, you can celebrate the season without overspending. Start implementing these tips today and enjoy a festive, worry-free holiday season.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holidays are in full swing, marking the beginning of the giving season. This year, as we search for gifts for our friends and family, let's also keep in mind the needs of our community by taking time to make a positive impact now and even throughout the following year.
Links:
- Learn more about Giving Tuesday
- Participate in our Share 'Cuz You Care campaign (Votes accepted until December 4th, 2025)
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Today is Giving Tuesday, a day celebrated worldwide to honor the countless individuals and organizations dedicated to serving those in need. This global initiative promotes generosity and fosters a sense of shared humanity, ensuring that everyone can receive help through acts of service and giving.
Take a moment today to reflect on how you can contribute to the mission of Giving Tuesday by helping and serving others. Here are a few inspiring ways to celebrate today and throughout the week:
- Collect Goods for Your Neighborhood
Direct your efforts toward local organizations that truly make a difference. Many community groups—homeless shelters, humane societies, food pantries, and soup kitchens—always need donations. Visit their websites to find out what items are most urgently needed. You can gather items individually or come together with friends or family to make a bigger impact.
- Clean Up Your Neighborhood
If you enjoy being outdoors, take the time to beautify your community. Giving back to your community doesn’t have to involve physical items and can involve giving your time to improve your surroundings. One great way to do this is to pick up trash in local parks, along roadways, or in other overlooked areas. Just be sure to stay safe by wearing bright clothing so that motorists can see you easily while you work especially when on the side of the road.
- Volunteer at a Local Organization
While donating is wonderful, volunteering can create an even greater impact. If you love interacting with people or are looking for a fulfilling way to give back, try giving your time to help organizations by assisting with in-person needs. Many local nonprofits need volunteers to help with tasks like food service, shelf stocking, food distribution, or even dog walking. Most organizations offer simple sign-up forms on their websites, allowing you to choose a time slot that works for you. Consider how you'd like to contribute and explore the opportunities available.
- Create and Share Kindness Kits
Sometimes, the chance to give comes unexpectedly. You might encounter someone in need—a person on the street, someone at the grocery store, or a local coffee shop. Prepare a few kindness kits to keep in your car or with you, so you can easily share them when the moment arises. Include items like basic hygiene products, gift cards, encouraging notes, snacks, and maybe an extra special item or two. With these kits on hand, you'll be ready to spread kindness not just during the season, but throughout the year.
On this Giving Tuesday, embrace the spirit of generosity and take action to uplift others. Additionally, don't miss your chance to participate in our Share ‘Cuz You Care campaign by voting for the nonprofit organization that you believe deserves the top donation from Triangle Credit Union. Visit trianglecu.org or click the link in the show notes to learn more.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Donating to charitable organizations is a powerful expression of kindness and a meaningful opportunity to educate those around us, particularly younger generations. Giving back to our communities not only provides support to those in need but also fosters a sense of connection and responsibility that is essential for a thriving society.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
During the gift-giving season, it's essential to consider the transformative potential of supporting local service providers dedicated to uplifting underserved communities. These organizations, often run by passionate individuals who have devoted their lives to making a difference, offer vital services such as food, shelter, toys, and clothing for children, transitional housing for families in crisis, and support for veterans. By contributing to these initiatives, you are not only assisting those in immediate need but also energizing local economies and encouraging community solidarity.
Participating in charitable giving also fosters a profound sense of fulfillment. It is common to feel uncertain about the appropriate gifts for family and friends during the holiday season, often questioning, "Do they really need more clothing or gadgets?" However, when you choose to donate to a charity in someone’s name, it transforms the act of gift-giving into something truly meaningful. This ensures that the gift resonates deeply, providing support to those who genuinely need it rather than adding to the clutter of material possessions. This approach is especially significant for older family members who understand the value of thoughtfulness and community support, while younger relatives may take a little longer to grasp the concept but will come to appreciate it as they grow.
Furthermore, donating to charities creates invaluable teachable moments with the younger members of our families. Children are keen observers, learning from the actions of their parents and other family members. Whether donating money, tangible items like clothing or food, or dedicating time to a charitable organization, these selfless acts impart important lessons about generosity, empathy, and community involvement. Engage children by asking, "Would you like to participate in this?" If they express interest, nurture their willingness, guiding them through the act of giving. If they decline or seem indifferent, use this moment as an opportunity to communicate the importance of philanthropy, explaining why helping others is vital. This allows them to arrive at their own understanding of generosity and perhaps inspire them to take action in the future.
Moreover, while the emotional aspects of giving are significant, it is essential to recognize the practical benefits associated with charitable donations. Charitable organizations function as non-profits, which means that donations are often tax-deductible. Those who itemize their taxes should request receipts for their contributions, as this can maximize the potential benefits of their donations. It’s a win-win situation where you can give back to the community while also reaping financial rewards during tax season.
For those seeking to make an impact, a simple online search can reveal local charities that are eager for support and donations. Whether it’s a food bank, an animal shelter, or a program supporting at-risk youth, countless organizations are making a difference in your community, and your contribution can be the catalyst for positive change.
Finally, consider involving your friends, co-workers, or social circles in your charitable efforts. Organizing a donation drive or volunteering as a group can not only amplify your impact but also strengthen your bonds and foster a culture of giving among your peers. In a time where social media often highlights consumerism, sharing your charitable ventures can inspire others to join in and spread the spirit of philanthropy.
By embracing the practice of charitable giving, we not only enrich the lives of those we help but also create a legacy of compassion that can be passed down through generations.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
This episode features interviews with representatives from three non-profit organizations in this year's Share 'Cuz You Care campaign. Each rep shares a moving story about their connection with the organization and shines light on the important work they do within the NH community.
Vote now to select which non-profit organization will receive the top donation of $1,000 from Triangle CU. (link below).
- Barbara Lafrance - Home Health and Hospice Care: https://hhhc.org/
- Shaun Nelson - Nashua PAL: https://nashuapal.com/
- Randy Stevens - Hope Recovery: https://recoverynh.org/
- Learn more about the campaign and cast your vote at: https://triangleuniversity.org/share-cuz-you-care-2025/
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
Campaign runs until Thursday, December 4th, 2025. Remember to vote daily to increase the chances for your organization of choice to win!
Think identity thieves only target high income individuals, a bigger prize if you will? False. Identity thieves target anybody they think might fall for their scams. They’ll keep coming up with new ways for unsuspecting victims to hand over personal and financial information. Keep listening to learn a little more about how thieves work to steal your identity, and a few things you can do to stop them in their tracks.
Links:
- FTC Consumer Sentinel Report
- Learn more about USPS Informed Delivery Service
- Monitor your Social Security account
- Get identity theft protection with a Better Checking account
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Have you heard any of these following stories recently?
An elderly woman was scammed for tens of thousands of dollars, including the purchase of a vehicle and applications for multiple loans. (KSAT)
A young professional’s stolen wallet resulted in reports of bad checks, dozens of new credit cards, false criminal charges, and more. (LA Times)
The NFL’s number one draft pick Cam Ward was targeted by identity thieves, resulting in high interest loans, liens on his home, and more, resulting in $250,000 in fraudulent debt. (The Guardian)
These true stories are just a few examples of identity theft that could happen to anyone, regardless of your age, occupation, financial status, or where you live. In each case, the victims learned about the crime after their information was stolen and had already been used multiple times.
Identity theft occurs when someone steals another person’s sensitive personal information and either uses it as their own or sells it on the black market for other perpetrators to use for financial gain or fraud. Identity theft has been making headlines for years; however, each and every year, thieves become more sophisticated. Staying in step with these criminal advances is a constant struggle for small business owners, corporations, and individual consumers alike. In spite of the work that is being done to keep our information safe, cases of identity theft continue to be reported at an alarming rate.
According to the Federal Trade Commission's Consumer Sentinel Report covering the full year of 2024, reported cases of identity theft have increased by over 584% in the last 20 years. Here are some other highlights from this report:
- Last year, more than 2.6 million cases of identity theft were reported, and more than 1 in 3 people who reported a scam also reported losing money.
- The median loss to fraud victims is almost $500, with total reported losses of more than $12 billion, an increase of more than 25% compared to 2023.
- The most common type of identity theft is credit card fraud, which includes using stolen information to open a line of credit as well as using a legitimate card fraudulently.
- Experts estimate that there is a case of identity theft every 22 seconds and that 33% of Americans will face this issue in their lifetime.
While safeguarding your personal information is key, so is knowing what to do if you find out that you have already become a victim of identity theft. First, you should know what red flags to watch out for, as time is of the essence when dealing with identity theft. The longer you wait to begin the recovery process, the more losses you risk facing. Early warning signs of identity theft can include:
- Finding unknown charges on your credit card or bank statement.
- Receiving calls from collection agencies about debts you aren’t aware of.
- Seeing unfamiliar withdrawals from your financial accounts.
- Receiving bills for items you didn’t purchase or services you didn’t request.
- Finding out that a tax return has already been filed in your name, prior to filing your own.
- Being unexpectedly denied on a loan application.
- Receiving notification of a line of credit that you did not open.
- Getting notifications or other information about government benefits or loans that you did not apply for.
If any of the above signs apply to you, they should be addressed immediately. For those of you who have a Triangle Better Checking account, you have access to dedicated Identity Theft Recovery Advocates who can help you assess what information has been compromised and assist in quickly taking steps to stop the damage and recover your identity, regardless of the type of identity theft or how it happened.
Once you have addressed the immediate issues surrounding the theft of your personal information, there are a few things you can do to help protect your identity in the future.
- Regularly check your bills and financial statements. It’s common practice for scammers to make small purchases or withdrawals first to see if they can get away with it before attempting larger purchases or loans. Notify your financial institution immediately if you see a charge that you don’t recognize.
- Use unique passwords for each of your online accounts. If a hacker obtains your password for one account, they will likely pair it with your name or email address on other sites to see what else they can gain access to. Consider using a trusted password service to help manage unique passwords for you. Changing your passwords regularly is another effective deterrent against scammers.
- Collect your mail daily and pay attention to any recurring items, like bank and credit card statements, to make sure you don’t miss any. Some thieves take envelopes containing s;pppp00oensitive information out of mailboxes. If you are away from your home for an extended period of time, notify the postal service to hold your mail while you are gone. It is also a good idea to enroll in USPS Informed Delivery, a free service from the postal service that shows you preview images of incoming mail, plus status updates about your incoming and outbound packages.
- Monitor your Social Security account. Set up a free account with the Social Security Administration to help ensure your Social Security number isn’t fraudulently claimed by someone else.
Identity theft can happen to anyone, and its effects can range from a small annoyance to financial devastation. The best protection is prevention, but if your information is used without your knowledge, we are standing by to help. If you are a Better Checking account holder and you think that you might be a victim of identity theft, contact the friendly staff at Triangle and we will put you in touch with a professional Identity Theft Recovery Advocate.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In this episode we chat with AJ Lemarier, Financial Planner, about the basics of Medicare and the various options individuals consider when selecting the right plan for their future needs.
Links:
- Take the free financial assessment: Financial Wellness Experience
- Get in touch with AJ: https://www.trianglefinancialgroup.com/the-team
- Check out more Medicare options at: https://www.medicare.gov/
- Explore more retirement and Medicare resources at: The United States Social Security Administration
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
Developing strong financial habits starts with understanding how you interact with money—both consciously and unconsciously. To truly make the most of what you earn, you need to uncover the hidden patterns in your spending and recognize where money might be slipping away. So, what everyday habits could be quietly draining your wallet without you even realizing it?
Links:
- Want lower interest rates? Contact Triangle Credit Union for more information on debt consolidation options
- Keep better track of your expenses with our Money Management tool within online banking
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
In order for us to live financially free lives, we need to take charge of ALL the ways we spend money. Part of taking charge involves recognizing all the productive and unproductive ways we’re spending our money.
Last week we covered five sneaky ways our habits can drain our wallets and this week I’m going to present five more for you to be aware of.
- Exorbitantly High Interest Loans
High-interest loans—like payday loans, certain credit cards, or quick cash advances—can trap you in a relentless cycle of debt. What starts as a short-term fix often turns into long-term financial strain, with interest piling up faster than you can pay it down. These types of loans are especially risky in tough economic times, when borrowing may feel like the only option. Unfortunately, the high rates make it difficult to catch up, and the stress of mounting debt can affect your overall financial health.
If you recently discovered you’re paying a lot of money towards high-interest debt, explore alternatives like refinancing, balance transfers to lower-interest cards, or consolidating debt through a reputable lender. If you're unsure where to start, speaking with a financial advisor or nonprofit credit counselor can help you find safer, more sustainable solutions.
- Overspending on Convenience Services
Food delivery, express shipping, and pre-packaged items are all about ease—but that convenience comes at a cost. Whether it’s the markup on restaurant meals, the extra fees for rush shipping, or the premium price of ready-made products, these small expenses can quietly snowball into a major budget drain. It’s tempting to lean on these services when life gets busy, but using them regularly can eat into your finances more than you might expect. In today’s economy, where every dollar matters, convenience should be a conscious choice—not a default habit.
Plan ahead to reduce reliance on convenience services. Cooking at home, batching errands, or choosing standard shipping instead of express can lead to meaningful savings without sacrificing too much comfort.
- Lifestyle Inflation
As income grows, spending often grows right along with it—a phenomenon known as lifestyle inflation. It’s easy to justify upgrades like a nicer car, more frequent dining out, or luxury gadgets when you’re earning more, but these habits rarely improve long-term financial security. In fact, they can quietly prevent you from building savings, investing, or reaching bigger financial goals. Without a plan, higher income can lead to higher expenses and little progress.
Keep your lifestyle modest even as your earnings rise. Automate savings so a portion of your income goes directly into a savings or investment account, and set clear financial goals to stay focused. That way, you can enjoy your success without letting it slip through your fingers.
- Buying Low-Quality Items That Need Frequent Replacement
Cheap products may seem like a bargain at first glance, but poor quality often leads to more frequent replacements—costing you more over time. Whether it’s clothing that wears out after a few washes, electronics that break down quickly, or furniture that doesn’t hold up, these purchases can become a cycle of spending that feels never-ending. In the long run, constantly replacing low-quality items can drain your budget and leave you frustrated. Plus, the environmental impact of disposable goods adds another layer of cost that’s easy to overlook.
Invest in durable, well-reviewed items when possible. While the upfront cost may be higher, quality purchases tend to last longer, perform better, and offer greater value—saving you money and hassle down the road.
- Overpaying for Expensive Brand Names
Premium brands often charge significantly more for products that offer similar quality to generic or store-brand alternatives. While the packaging and marketing may be more polished, the actual performance or ingredients are often nearly identical. In many cases, you're paying extra for the name, not the value. This is especially true with household goods, groceries, and personal care items, where brand loyalty can overshadow smart spending. Over time, these brand-based purchases can quietly inflate your expenses without delivering better results.
Take a moment to compare ingredients, reviews, and performance before buying. You might be surprised to find that a lower-cost alternative works just as well—or even better—than the name-brand version.
Being mindful of these habits doesn’t mean you have to live ultra-frugally or give up the things you enjoy. It’s about making smarter choices that align with your financial goals. A few small changes can lead to big savings—and a lot less stress when you check your bank account.
That concludes this week's list of five more sneaky habits that can drain your wallet. If you didn’t catch the first five, check out last week’s Money Tip for the rest of the list.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal FB page and look for Triangle on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Ever glance at your bank account and wonder, “Where did it all go?” Impulse buys might be the usual suspects, but they’re just the beginning. In today’s economy—where every dollar counts—there are plenty of subtle ways money slips through the cracks. Some are so routine habits that could be draining your wallet, and you might not even notice them.
Links:
- Keep better track of your expenses with our Money Management tool within online banking
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
In a time when prices seem to rise faster than paychecks, keeping track of your spending is more important than ever. Yet even the most budget-conscious among us can fall into habits that quietly drain our finances. From everyday conveniences to overlooked fees, these money leaks often go unnoticed until it’s too late. The good news? Most of them are fixable with a few smart tweaks.
This tip is part one of two tips that will cover ten sneaky yet common budget busters. Here are the first five.
- Throwing Away Wasted Food
Buying groceries with good intentions only to toss them out a few days later is a quiet but costly habit. Whether it’s forgotten leftovers, produce that never made it into a meal, or bulk items that seemed like a good deal at the time, food waste can add up fast—and so does the money lost with it. In today’s economy, where grocery prices continue to climb, letting food go unused is like throwing cash straight into the trash. The problem often stems from lack of planning or overestimating what we’ll actually eat during the week. Plan meals before shopping and stick to a list that reflects your actual schedule and appetite. Explore tools like dinner planning apps or notebooks to keep your meal plan organized and easy to follow.
- Overspending on Dining Out
Takeout and restaurant meals are undeniably convenient—especially after a long day—but that convenience comes at a steep price. With rising food costs, service fees, and delivery charges, even a quick bite can end up costing double what it would to make at home. It’s easy to fall into the habit of dining out regularly without realizing how much it’s impacting your budget. Over time, those small splurges can add up to hundreds of dollars a month. Set a realistic weekly dining-out budget and explore simple, quick recipes that make cooking feel less like a chore. Even swapping just a few restaurant meals for homemade ones each week can lead to noticeable savings—and might even spark a new love for cooking.
- Impulse Purchases
Online shopping makes it incredibly easy to buy things on a whim—just a few clicks and it’s on its way to your doorstep. These impulse purchases often feel satisfying in the moment, but they can quickly lead to regret, clutter, and a shrinking bank balance. With targeted ads and flash sales constantly vying for your attention, it’s easy to convince yourself that you need something you didn’t even know existed five minutes ago. Over time, these small, unplanned buys can add up to a significant drain on your finances. Curb this temptation with the 24-hour rule—wait a full day before buying non-essential items. This simple pause gives you time to reflect on whether the purchase is truly worth it or just a fleeting desire.
- Paying for Unused Subscription Services
Streaming platforms, mobile apps, and memberships can quietly renew month after month—even if you’ve completely forgotten about them. It’s easy to sign up for a free trial or a service you might use, only to let it slip under the radar while the charges keep rolling in. These recurring expenses may seem small individually, but together they can take a noticeable bite out of your budget. In a subscription-heavy world, it’s more important than ever to stay on top of what you’re actually using. Make it a habit to review your subscriptions every few months and cancel anything you haven’t used recently. Budgeting apps and digital wallets often have built-in tools to help track and manage recurring payments, making it easier to spot and stop the ones that no longer serve you.
- Fees on Late or Missed Payments
Late fees and penalties are completely avoidable, yet they remain one of the most common and frustrating money drains. Whether it’s a missed credit card payment, a forgotten utility bill, or a delayed loan installment, these charges can pile up quickly and quietly. Beyond the immediate financial hit, they can also damage your credit score—making future borrowing more expensive or even inaccessible. In a busy world, it’s easy to overlook due dates, but the consequences can linger far longer than the oversight. Set up automatic payments for recurring bills whenever possible, and use calendar reminders or budgeting apps to track due dates. A little organization now can save you from costly mistakes later.
That concludes this week’s list of 5 ways we tend to waste money. Next week I’ll present 5 more, so make sure to tune in and take a listen! Ther may be some you haven’t heard of before!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal FB page and look for Triangle on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
There are so many different ways scammers try to trick people. Some scams are easily recognizable, while others might not be so obvious. The effectiveness of a scam depends on many factors, most importantly, the victim’s unawareness of the scammers’ techniques. Staying aware is the number one thing we should all do to stay ahead of scammers and live with a little more peace of mind.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We cover fraud scams and alerts on this channel a lot, but the truth of the matter is that fraud attempts are always occurring so it’s imperative that everyone should stay on top of the most effective or newest trends in order to keep themselves and their loved ones safe.
This tip is going to present examples of some gut-wrenching scams individuals have experienced using three fictitious stories based on real tactics.
1 Virtual Kidnapping
David was halfway through his morning coffee when his phone rang with a recognized number – his wife’s. The voice on the other end was cold and urgent: “We have your wife. If you want to see her again, send $25,000 through Zelle—now.” Panic surged through him as the caller described personal details about his wife, making the threat feel terrifyingly real. He knew his wife was already on her way to work, but occasionally stopped at a local cafe or store to pick up a coffee or morning snack. David’s hands trembled as he opened his banking app and considered sending the money, but something about the situation didn’t feel right. He asked the caller to put his wife on the phone. The caller refused and instead continued to push David into sending over the money. David began to suspect he was being scammed, so he decided to hang up and call his wife’s office phone. Within seconds, she answered on the other end, confused but safe. Immediately, the scam unraveled, leaving David shaken but relieved, and prompting a call to the police to report the fraud.
This kind of scam preys on fear and urgency. Scammers often use social media to gather personal details, then demand payment through apps like Venmo or Zelle, which are harder to trace. David’s quick thinking saved him from a costly mistake—but not everyone is so lucky.
2 AI Voice Cloning:
Margaret was folding laundry when her phone buzzed with a call from her daughter, Emily—at least, that’s what the caller ID said. Emily’s voice came through in a frantic rush: she’d been in an accident, her wallet was gone, and she needed money immediately to avoid legal trouble. “I’ll send you a link,” she said, her voice trembling. “Just click it and send whatever you can through Zelle.” Margaret’s heart raced. The voice sounded just like Emily’s—same tone, same cadence—but something felt off. The urgency, the unfamiliar link, the fact that Emily had just messaged her hours before about coming to visit for the holidays. Margaret hesitated, then decided to try something. She remembered Emily had just told her something personal a little while ago that no one else could have known. She quickly asked to Emily to remind her the specific details about that conversation. The caller on the other line was silent for a second then came back with a different question in an attempt to deflect. Margaret was more convinced now this was a scam, so she hung up the phone and called Emily’s number. When her daughter answered calmly from her apartment in Pennsylvania, the truth hit: the voice had been AI-generated, and the link was a scam.
This type of fraud is growing more sophisticated, using voice cloning and spoofed caller IDs to exploit emotional bonds. Margaret’s instinct to verify, saved her from financial loss, but the experience left her shaken—and more cautious than ever. Any of us might face a scam like this in the future, so it’s important to develop pass phrases or codes you can use with friends and family to verify each others’ identities in case a scam like this ever comes up.
3 Bank Impersonation Fraud
Jason was just finishing dinner when his phone rang with a number labeled “Bank Fraud Department.” The caller sounded professional, even reassuring, and said they’d detected suspicious activity on his checking account. “We need to verify your identity to cancel the card and secure your funds,” the voice said. Jason, alarmed but trusting, began answering questions—his full name, date of birth, and eventually his account number and online banking login. The caller promised a confirmation email would follow shortly. But when Jason checked his bank app minutes later, he was locked out. His account had been drained.
This scam relies on urgency and authority to trick victims into revealing sensitive information. Scammers often spoof legitimate phone numbers and use insider lingo to sound convincing. Jason’s experience is a reminder of how sophisticated scammers can be. It’s policy for most banks and financial institutions that they’ll never ask for full login credentials or account numbers over the phone. When in doubt, hang up and call the bank directly using the number on the back of your card or found on their verified website.
Scams are increasing in sophistication these days, especially when tools like AI can convincingly replicate the voices of friends or loved ones. Please keep these scam tactics in mind and share with others in your life. Awareness is the first step in keeping our identities and finances safe in today’s mobile and digital world.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our new Making Money Personal FB page and look for Triangle on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How's your credit score? Is it in tip-top shape, or maybe it could use a little bit of love? The fact is that your credit score is one of the most important financial metrics we use today and how we manage and nurture it makes a huge difference in shaping your financial opportunities. By managing and improving it, you can secure better loan terms and lower interest rates, paving the way for a healthier financial future.
Links:
- Explore the identity protecting benefits of a Better Checking account
- Disputing Errors on Your Credit Reports | Consumer Advice
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
A credit score might seem like a mysterious three-digit number, but it holds significant influence over your financial life. Whether you're applying for a loan or a credit card, renting an apartment, or even setting up utilities, your credit score plays a crucial role in the decisions that lenders, landlords, and service providers make. Your credit is a valuable asset, and credit score awareness can be a crucial piece in overall financial wellness and identity theft protection. In this tip, we want to remind account holders of the importance of understanding credit scores and provide some tips to help them improve and maintain a healthy credit score.
What Is a Credit Score?
Simply put, a credit score is like a grade for how good you are at managing money. It is one of the most important tools that lenders and financial institutions use to assess the risk of lending money to you. A higher credit score indicates a healthy credit history; therefore, a lower credit risk, making you more appealing to potential creditors. Credit scores typically range from 300 to 850, with higher scores being better, indicating that you have consistently made payments on time to satisfy your credit obligations. While a "good" credit score varies based on the lender and the specifics of the loan request, it is typically around 700 or higher. Once your score is over 760, you may expect to be offered the best available rates. Credit agencies refresh scores once a month, but the exact timing of those updates may vary based on a myriad of factors.
How Is a Credit Score Calculated?
You might be surprised to learn that you can have multiple different credit scores at the same time. Based on where the lender obtained their data (from one, two, or all three credit reporting agencies), the credit score model that is used, the lender’s own criteria for issuing credit, and the timing of when the score was produced. A hypothetical scenario for calculating a credit score might weigh the following factors this way:
- Payment History (35%): This is the most important part. It's like getting a gold star for paying bills on time. If you pay on time, your score goes up. If you miss payments, it goes down.
- Credit Utilization (30%): Imagine you have a money jar, and you use only a little bit of it. That's good for your score. But if you use a lot of it, it's not so good. This measures how much of your available credit you're using.
- Length of Credit History (15%): The longer you've had credit (like a credit card or loan), the better. It's like experience points. More experience means a higher score.
- Credit Mix (10%): Having different types of credit, like credit cards and loans, can be like having a diverse team. It's good for your score, but you don't need to have them all.
- New Credit (10%): Every time you apply for new credit, like a loan or a credit card, it can slightly lower your score. Too many applications at once can hurt your score.
Lenders will also look at other factors, such as your income, your assets, or how long you have been at your current job. Note that a high credit score isn’t the only sign of financial health. An individual who chooses to use cash or debit cards for major purchases rather than taking out loans will likely have a lower credit score than someone with a long record of multiple well-managed debts, even though they may be very financially responsible.
Why Does Your Credit Score Matter?
- Getting Credit: When you need to borrow money, like for a credit card or a car loan, lenders look at your credit score. If it's high, they're more likely to say yes. Plus, you might get lower interest rates, which means you pay less in the long run.
- Interest Rates: A good credit score can mean lower interest rates on loans and credit cards. Lower interest rates save you money, so it's a win.
- Renting a Home: Landlords often check your credit score when you apply to rent an apartment. A good score can help you get the place you want.
- Utility Bills: Some companies might look at your credit score before deciding if you need to pay a deposit for things like electricity and water.
- Job Opportunities: Some jobs, especially those handling money, check your credit as part of the hiring process. A good credit score can make you more attractive to employers.
For those interested, here are 9 Tips to Improve Your Credit Score
- Pay Bills on Time: Make sure you pay your bills by their due dates. Set up reminders or automatic payments to help you stay on track.
- Manage Credit Cards Wisely: Keep your credit card balances low compared to your credit limits. Aim to use less than 30% of your available credit. Pay off your credit card bills in full whenever you can.
- Mix Different Types of Credit: Having different types of credit, like credit cards, loans, and mortgages, can boost your score. Only open new credit when you really need it.
- Don't Close Old Accounts: The longer you've had credit, the better. So, avoid closing old credit card accounts, especially if they have high credit limits.
- Deal with Problems: If you have late payments or debts in collections on your credit report, work on fixing them. Pay off debts in collections and ask creditors to remove them, if possible.
- Ask for a Credit Limit Increase: If you've been good at paying your credit card bills, consider asking for a higher credit limit. Having a higher credit limit could reduce your total credit utilization, which can help your credit score.
- Be Careful with New Credit Inquiries and Too Many New Accounts: Every time you apply for new credit, it leaves a mark on your credit report. Too many marks can hurt your score, so be careful about applying for credit often. Likewise, opening lots of new credit accounts in a short time can worry lenders and lower your score. Only open new accounts when you need them.
- Check Your Credit Report Regularly: Dispute any errors you find in writing to all three credit bureaus. You’ll want to include the credit bureau’s dispute form as well as any supporting documentation and be sure to keep copies of everything you send. You can find sample letters and more information about how to file a credit dispute in an article from the Federal Trade Commission (link will be in the show notes.)
- Stay Alert for Signs of Identity Theft: All the work you do to improve your credit score could be thwarted by someone who has stolen your personal identifying information to take out loans in your name. Review your credit report and watch for any signs of identity theft to ensure your credit score is impacted by only your own financial behavior. If you find evidence of identity fraud in your credit report, remember, we can help. Members with a Triangle Better Checking account with IDProtect, have access to Identity Theft Resolution Advocates who are standing by to dispute fraudulent activity that might damage their credit standing.
Build a Credit Score Without Debt
Young adults and those who have never had a need for credit may not want to go into debt but want to build their credit score. Here are a couple of ways that you can build your credit score without debt.
- Apply for a credit-builder loan, which places the money you borrow into a certificate of deposit (CD) or savings account that you can claim after making 12 monthly payments.
- Apply for a secured credit card, which gives you a line of credit that is backed by a cash deposit.
Remember, with your Better Checking account, you are entitled to receive convenient access to your TransUnion® credit score monthly. Your score is tracked on a timeline to help identify unexpected changes in your score’s movement that could indicate identity theft.
Plus, with a Better Checking account, you have access to your annual credit report. Visit our Better Checking dedicated site to access your benefits of download the TCU Better Checking app for convenient access on the go.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
When it comes to impulse buying and overspending, one often overlooked area is the grocery store. Fortunately, there are simple strategies you can use to save money on groceries and keep your costs within your budget.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal Podcast.
Have you ever looked at your grocery receipt in shock, realizing you spent more than you planned? Groceries can quickly add up, and many people are just as likely to make impulse purchases at the grocery store as they are elsewhere. Being aware of your spending and planning ahead are essential to shopping smart and managing regular expenses.
If you're looking to reduce your grocery bill, here are a few tips to consider:
- Serve Simple Meals: Dinner doesn’t have to be complicated. Large meals with multiple sides and desserts can require significant prep work and increase costs over time. Consider simpler meal options like BLTs, big salads, egg sandwiches, or quiches. You don’t need to prepare an elaborate feast every night; with a little creativity, you can enjoy satisfying meals without the extra effort and expense. This approach may also help reduce food waste if you or your family can’t finish leftovers.
- Pay with Cash: This is a useful strategy for those who stick to a budget. If you know how much you can spend on groceries each week, bring that exact amount in cash and avoid exceeding it. This way, overspending becomes impossible. If you prefer not to use cash, consider setting a spending limit on your credit or debit card.
- Try Delivery or Pickup Services: The growing popularity of grocery pickup and delivery services offers more than just convenience; these options can help you cut back on spending. Shopping online decreases the likelihood of impulse purchases. When you walk through the store aisles, you're more likely to encounter items you didn’t plan to buy and toss them into your cart. Instead, opt for online shopping, scheduling a pickup or delivery. While many grocers may charge a small service fee, it could be insignificant compared to the money you save by avoiding impulsive buys. Often, the minor service charge is worth the savings.
- Pay Attention to Sales: Smart shoppers always keep an eye out for sales, especially on meats, which can help reduce your grocery bill. Take note of when your favorite items go on sale and track their sales cycles to plan your purchases in advance. With some discipline, you’ll find that the savings add up over time.
- Consider Buying Generic: Generic items are often cheaper than their brand-name counterparts. By switching some or all of your items to generic brands, you could see significant savings. Some grocery stores offer rewards programs that provide money back when you purchase their store brands. Not only are you buying cheaper items, but you’re also getting a little something back for your purchases—an extra win for your wallet!
Groceries are a necessary expense in our budgets, but how much we spend can vary widely. With some planning, discipline, and creativity, you can keep this essential expense from getting out of control.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Planning for college involves important decisions, especially when it comes to financing and financial aid. In this episode, we discuss the FAFSA process with Matt Wallace, Vice President of Education & Career Pathways at Granite Edvance. We cover essential tips for completing the FAFSA, upcoming changes to streamline the filing process, and valuable resources for parents and students to ensure a smooth experience.
Links:
- Access free resources, book one-on-one appointments, and find links to helpful tools and guides: Get Our Help - Granite Edvance
- Get in touch with Granite Edvance: Contact Us - Granite Edvance
- Book appointment: Calendly - Granite Edvance
- Explore various financial aid resources: Resource Library - Granite Edvance
- Check out Granite Edvance's YouTube Channel: Granite Edvance - YouTube
- Visiting studentaid.gov for official FAFSA forms and helpful wizards to determine dependency status and required contributors
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
**The views, thoughts, and opinions expressed are the speaker’s own and do not represent the views, thoughts, and opinions of Granite Edvance. The material and information presented here is for general information purposes only and is believed to be materially accurate at the time of this recording; however, information presented is subject to change without notice and should not be construed as a commitment by Granite Edvance.
Fall is in the air, and you know what that means? It's still a great time to search for that perfect house! As the leaves begin to change and the weather cools down, the real estate market stays active with fresh listings and motivated sellers. Whether you're cozying up to the idea of buying your first home or thinking about making a move before the holidays, autumn is a great time to explore your options and find that perfect place to settle in.
- Learn more about Triangle's Mortgage programs
- Get started now with a Mortgage application
- Questions? Get in touch with one of our Mortgage Originators
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Triangle Credit Union is an equal housing lender.
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Home Buying can be a daunting task, especially if you've never gone through the process before. There are so many things associated with home buying that it can cause you to become quite anxious. Still, by following these steps, you'll have a more enjoyable experience on your journey to home ownership!
Step 1: Get as educated as you can early in the process. Watch videos, listen to podcasts and explore articles and blogs on the subject of home ownership to get yourself familiar with as much as you can. Also, if you don't already have a realtor in mind, follow a couple of them on social media and see what they are posting about in terms of home ownership. Go to Facebook and type in "Realtor" followed by "in [your town.] For example, I might type in Realtor in Nashua, NH. A list of realtors in my area will appear. I wouldn't reach out yet. This is more to get a feel for their posts and gain some valuable insight.
Step 2: Once you feel ready to start the process, it's time to get pre-approved. In today's market, being well-prepared is key, and that includes having your finances in order. To be financially ready, you'll want to have little to no debt, an emergency fund, and a down payment, typically anywhere from 3.5% -20 % of the purchase price. The more you put down, the less your monthly payment will be. For a pre-approval, Triangle Credit Union offers tailored programs to meet your needs, so don't hesitate to reach out if you are within our area. We're here to support you every step of the way!
Step 3: Find the right realtor for you. I am sure you know someone who has purchased a home before.. Ask them who they worked with and how their experience was! They will give you a first-hand account of the process and will be happy to recommend their agent to you. If you can't get someone to recommend a realtor, go back to Facebook and check out the ones you followed in step 1, and consider reaching out to two or three. Interview them and see if one of them meets your needs! Ask ALL of the questions you have! Remember, they work for you!
Step 4: Visit open houses and make an offer on the home that catches your eye. Houses go on the market on Monday, and within a few hours, private showings are scheduled, and in some cases, offers are being made above the asking price! If you find a home you love, make a firm offer and keep your fingers crossed. But if your offer isn't accepted, don't lose heart! Your dream home is out there, waiting for you to discover it!
Step 5: Once your offer is accepted, it's time for the Home Inspection. A home inspection of the property is a thorough walk-through by a licensed professional to check for signs of structural damage or things that may need fixing. This includes checking the foundation, roof, plumbing, electrical systems, and more. Your real estate agent will usually help you arrange this within a few days of the seller accepting your offer. This process protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage. Both you and the seller will receive a report on the home inspector's findings.
Step 6: Have the Home Appraised. Your lender will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. The appraisal will let all the parties involved know that you are paying a fair price for the home. The lender's interest in this process is to ensure that the property is worth the amount they are lending you. And Finally….
Step 7: Congratulations! It's time to close on your home purchase. At closing, you will sign all the paperwork required to complete the purchase, including your loan documents. Once this happens, the loan is finalized, a check is delivered to the seller, and you're done. You are ready to move into your new home!
While there are plenty of other things to know and consider, this is a macro-level idea of how the process works. The most important thing is to do your research, as I mentioned in Step 1, and find yourself a realtor who will guide you through this process. Remember, while the home-buying journey ends at the closing, it's really just the beginning. Your new home is ready to be filled with countless memories for years to come, and that's something to look forward to!
Do you have any additional tips or advice that will help our listeners with this topic or other financial matters? Email us at TCUPodcast@trianglecu.org or look for Triangle on Facebook, Instagram, and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to listen to our other tips and episodes on the making money personal podcast.
Have a great day!
In today’s digital world, with so much of our information and interactions taking place over the internet, sooner or later we’re bound to receive suspicious messages or emails trying to trick us into giving sensitive account information. There are always scams circling around we should all be aware of, and today’s scam of note involves Amazon.
Links:
- Stay up to date on scams with Amazon's security info blog
- Report scams and stay up to date on PayPal's security center
- Get Triangle CU news and fraud updates at TCU University
- Learn more about the Better Checking account with Identity Protection
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
As of 2025 data, Amazon Prime has surpassed over 260 million users worldwide. It’s a company widely recognized that countless users know and trust. So it’s no surprise that scammers will try to use anything associated with Amazon, to pump out deceiving, yet convincing messages to grab your attention and get you to think you’re working with Amazon to resolve an issue or update and order. But beware, because you might instead be working with a fraudster.
Imagine this. You’re in the middle of your workday, focused on projects, emails and tasks, and suddenly your phone buzzes with a new message. It looks to be from Amazon stating that there’s an issue with your recent order and that you can quickly resolve the issue by clicking the link to resolve the issue or initiate a refund. The message tries to get you to act fast by noting that if you don’t follow the instructions you’ll lose the refund. Maybe you’re alarmed, or surprised, so what do you do? Click the link?
Unfortunately, many people fall for scams like these, especially when they come from such a recognizable company as Amazon. I personally have received these from not only Amazon, but PayPal, Ebay and even some of my financial institutions. It can’t be stressed enough how important it is for us to respond appropriately to these messages. In this case, caution and consideration over swift action.
This message is timely because just recently Amazon reports that there have been fraudulent messages circulating with the purpose to steal financial information include fake order confirmations that require payment and emails claiming there is an account issue or order issue that needs to be resolved.
The purpose of these scams is to steal financial information or get you to transfer money. You’re the first line of defense in safeguarding your financial information.
Here are a few tips to keep in mind when it comes to suspicious messages and identity protection in general.
- Don’t EVER click links in urgent text messages or emails. Verify by checking your account updated in the application or website that you visit directly. I personally do it myself all the time. If I get an urgent message about something going on with any of my accounts, I open the app on my own, log into my account and check my updates or order information. Most of the times that I’ve done this, it further confirmed the alarming message was fraudulent.
- Stay on top of current fraud trends. Knowledge is power. It’s important to know what kinds of fraud tactics exist so you can best guard against them. Scammers are always inventing new ways to trick people, so keeping informed on current tactics is your best line of defense. They’ve found ways to use QR codes, text messages, phone calls, and now AI tools to come up with new and convincing scams. Keep an eye out for news on data breaches, scam alerts, and explore blog articles and other security information to keep your knowledge up to date.
Amazon posts updates on their own security blog (check the link in the show notes), PayPal dedicates a page on their site for reporting and learning about ongoing fraud trends (link in show notes), even your financial institutions likely share news on recent scams. Triangle posts about a lot of fraud content with news and tips at our educational site TCU University (link in show notes). So next time you get word that there’s another scam making the rounds, don’t discount it, investigate it. 3. Protect your identity. Even the most vigilant person can still unfortunately become a victim of identity theft. All it takes is a very well-crafted scam during a moment of distraction or even a large-scale data breach to compromise your personal info. But, in the unfortunate event something like this happens, all is not lost. Having something like identity theft protection can be your saving grace. Triangle’s Better Checking with identity protection provides not only safeguarding but also an identity resolution case manager and theft reimbursement coverage in case there is an instance of identity theft. Learn more about the identity theft protection benefits with a Better Checking account at trianglecu.org.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Recurring subscriptions – such as streaming services, apps, and memberships - can quietly drain a budget. Many people don't realize how much they're spending until it's too late. If you are one of the many people trying to manage several streaming services and other subscription services, it is crucial to pay special attention to subscription payments to properly manage and understand their total cost over time.
Links:
- Explore Triangle's Money Management tool in online and mobile banking
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Let's start this tip off with a short story.
Ryan, a tech-savvy professional, was taken aback when he reviewed his bank statement and found over a dozen subscription charges he had overlooked. Each month, small fees from various fitness apps, streaming services, and even a couple of online magazines accumulated, ultimately totaling hundreds of dollars. As he analyzed the list, he remembered signing up for some of these services during promotional periods, but many had slipped his mind entirely. The realization left him feeling a bit frustrated, as he struggled to keep his finances in check amidst an overwhelming number of recurring payments. Determined to regain control, he decided it was time to reassess his subscriptions and prioritize his spending.
There are many people out there who can relate to Ryan's story. We eagerly sign up for subscriptions to services and platforms that we don’t always remember we’re on the hook to pay for month over month.
The real challenge arises when we've accumulated so many subscription services over time that we’ve stopped paying attention to how many we’re paying. This can be dangerous, not only because it can lead to wasteful spending, but subscription prices can rise over time to where we’ll likely find ourselves paying way more than we initially planned.
This tip is about empowering you to live more financially free by building awareness on how to properly manage the subscriptions you currently use.
Here are three things you can do to take charge of your subscriptions so you can enjoy the benefits without letting them wreak havoc on your wallet.
First of all, do the math. Add up the cost of every subscription service you’re paying for. The only way to determine if your subscriptions are becoming too expensive is to know how much they’re costing you in the first place. Don’t assume you know each charge because prices may have changed since you first signed up. It’s not uncommon for subscription services to increase prices periodically so what used to be $5.99 a month might now be $8.99.
Second, stay organized. Keep track of all the subscriptions. Use a financial app or other tool that can give you a snapshot of all your subscriptions and their due dates. Using a tool like Triangle’s Money Management makes it easy to categorize all your payments into groups. Creating a category for streaming services will make it easy to see every charge that goes towards subscriptions.
Third, use it or lose it. Cancel any subscriptions you find you’re no longer using. If you haven’t gone to the gym in months, but are still paying for it, consider either blocking time off the schedule to head there or cancel it altogether. Signed up for monthly delivery boxes or paying for a streaming service you haven’t used in a while, it might be time to cut those out of your budget. This step is all about truly reflecting on your needs and wants and determining whether there are any opportunities to free up some extra money by shedding unnecessary spending.
Finally, for any new subscriptions you consider, take time to look up and understand the cancellation terms. Before signing up for a new subscription, take a moment to review the cancellation policy. Check for cancellation fees, renewal costs or other changes. You don’t want to get caught paying extra money to cancel your subscription.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Purchasing a home is a big decision. For most people, it's the biggest purchase they will make in their lifetime. Unfortunately, for many homeowners, even a possession like a house can fall under the threat of identity theft tactics, which makes awareness and protection an important necessity in this day and age.
Links:
- Explore the benefits of a Triangle Better Checking account
- For those with Better Checking, sign up now or log in to access additional identity protection benefits
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
A home is so much more than an asset. It's where we live, raise our children, entertain friends, and feel the most secure and at peace. It's easy to understand why people would want to protect their homes at all costs. "Home Title Theft" or "Deed Fraud" has received a lot of attention lately and sounds as scary as it is. Let's take a look at what defines Home Title Theft and the prevalence of this crime. We will also present the difference between Home Title Theft and Loan Fraud, and how Triangle Credit Union can help protect you against the effects of both, no matter where the fraud occurs.
Home Title Theft is a Real Thing
Home Title Theft occurs when a fraudster, armed with your personal information, uses forged documents to apply to the registrar of deeds of the county to have ownership of your property transferred to the fraudster's name. The fraudster then borrows money using the property as collateral and never makes the payments. You may not know that this transaction has occurred until the lender tries to foreclose on the property and finds that you, the "previous owner," is still living there. This situation leads to many questions about what comes next. Do you have to make payments on the loan to keep your home? Will you be able to sell your home? How can you undo the damage that has been done and get the title back in your name? What if the fraudster has sold the home to another person? How do you defend your rights to the ownership of your home? Before we go any further, let us put your mind at ease.
Professional Identity Theft Recovery Advocates Are Standing By
If you’re a Triangle Better Checking account holder, your benefits include Fully Managed Identity Theft Recovery. If you find that you've become a victim of Home Title Theft a professional Identity Theft Recovery Advocate will personally assist you, including working on your behalf to reverse the damage, no matter how long it takes. It is also important to note that in addition to addressing the Home Title Theft, your Identity Theft Recovery Advocate will research and address ALL identity fraud that has occurred in your name. Having professional help to resolve your entire identity theft situation, especially in the protection of your home, is critically important.
How Often Does Home Title Theft Occur?
The short answer is that no one knows for sure. The FBI doesn't break out Home Title Theft in their annual crime statistics. Neither does the Federal Trade Commission ("FTC"). In the FTC's annual consumer fraud and identity theft report, the much broader category encompassing Real Estate Loans shows that this category represents less than 1% of the total of all identity theft incidents reported to the FTC in 2024. On the other hand, it appears that cases of Home Title Theft are on the rise in some regions of the United States.
Home Title Theft vs Loan Fraud
A much more prevalent crime is "Loan Fraud", where the fraudster impersonates you using your personal information. They approach a financial institution and borrow money using your property as collateral. This fraudulent loan will satisfy the criminal's goal of fast cash without going through the process of changing the title.
Who are Typical Victims of Home Title Theft and Loan Fraud?
Criminals will target people who have no mortgage loan on their home; therefore, there is not a second party to prevent the title transfer. The same is true for criminals who commit loan fraud. They want to find victims who have a large amount of equity in their home or victims who own their home free and clear of debt. Unfortunately, the largest segment of these consumers are the elderly.
What Can I Do to Help Protect Myself Against Home Title Theft and Loan Fraud?
Many counties offer a free service on their property assessor's search page to alert you by email of any changes of title for the properties you own. If there is not an automated function for your county, there is usually a way to search for the registered owner of a property to confirm no changes. Simply type the words "property assessor search" along with the name of your county and your state into your browser's search bar, or go to your county's website.
In addition, the Better Checking account has several features that could alert you to suspicious activity, including credit monitoring and high-risk transaction monitoring. Watch for these alerts and take action or call an Identity Theft Recovery Advocate.
If you’re a Triangle member but you don’t yet have a Better Checking account? Visit your local branch or open a new one online. You’ll get access to identity theft protection and will receive an activation code to access the additional identity protection benefits like access to your credit report and score, credit card registration and more.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Food delivery apps offer a convenient service to get delicious food brought directly to your door. But they can also pose financial hazards that can derail even the tightest budget. How can food delivery habits impact your overall financial health? Keep listening to find out.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
It's hard to resist the ease and comfort of using a food delivery service. Whether it's for lunch, dinner, or a few simple items you need from the local grocery store, these services bring the world to your doorstep.
Delivery app services like Uber Eats, DoorDash, and Grubhub may be easy and convenient to use, but they can also be the reasons we find ourselves overspending on meals month over month.
Food delivery apps can often misguide us in various ways, and their impact on our budgets is significant. How do they influence our spending habits and finances?
Well, there's a chance you'll be paying more for the item than you would if you went to the store or restaurant yourself. Many restaurants list higher prices for items on delivery platforms to offset fees on their end. For example, a burger that costs $10 at the restaurant might be $12-$13 on the app. It's hard to say whether all restaurants increase pricing for items within the app, but I've noticed it a few times when I order some of my favorite treats from a local coffee shop in my neighborhood.
Another thing to keep in mind is that you can expect to pay additional fees, such as delivery and processing fees. For example, most platforms charge a delivery fee, which can range between $1.99 and $6.99, depending on the app, the distance for delivery, and demand. They can charge a service fee, typically a percentage of the order, such as 10-15%. Some apps will charge a small order fee if the order doesn't meet a minimum. And then there's, of course, the tip. Although tipping is optional, it's often expected and essential to give a little extra to the driver delivering your order. Considering all the fees, a $15 meal in person could become $25+ after the fees and the tip. Not exactly a budget breaker, but over time, those fees and tips can add up to a substantial amount of unexpected costs.
It's important to recognize that you are paying a premium for meals ordered through the apps. While delivery is undoubtedly convenient—especially when we aren't in the mood to prep, cook, and clean—the real money-saving option is cooking for yourself. On average, restaurant meals can cost up to five times more than making them at home. For instance, a deluxe cheeseburger might cost $4.63 to prepare at home, but it could cost $13.69 for takeout and $23.79 for delivery after the fees and tip are factored in. By consistently opting for food delivery, you'll end up spending considerably more on your meals. Sometimes the convenience of delivery is justifiable, but other times it's not worth the extra cost, so before opening the app to hunt for tonight's dinner, consider the significant cost savings of preparing the same meal at home.
So, we've covered the most significant way food delivery apps can cost you more. How can we help you enjoy the benefits of these apps without overspending? Here are a few ways to minimize the chances of overspending the next time you want to order out.
- Opt for takeout and pick up the order yourself instead of paying more for delivery. You'll avoid all the added fees, and there's no need to tip a driver.
- Avoid using the app and order directly from the restaurant. This can reduce the processing or service fees associated with ordering through an app.
- Use a loyalty program to save. Most apps offer a loyalty program with zero delivery fees and other savings, albeit for a monthly fee. But if you find yourself using the apps frequently enough, do the math to determine if getting on a loyalty plan will save you money.
- Set a monthly delivery budget to ensure you have money set aside for food delivery. This is an easy way to ensure you'll have the funds available to afford the joys of food delivery without the danger of overspending.
While food delivery services offer the ease and convenience of having delicious food and other household items delivered directly to our door, they can also lead to excessive overspending and the buildup of bad debt. It's crucial to remember that using these apps can be enjoyable, but they require discipline and financial awareness. With a bit of attention, planning, and discipline, we can all enjoy the benefit of using food delivery apps without damaging our finances.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Community outreach and financial literacy go hand in hand. Part of Triangle's mission involves bringing our many financial products and services out into the community through various sponsorships, engagement initiatives and employee programs.
In this episode, we're chatting with Jana Gemelli, Community Outreach & Sales Coordinator at Triangle Credit Union, about the work she does to bring Triangle's products, services and financial literacy resources to the many people living and thriving in the communities we serve.
Links:
- Explore the various webinars and workshops in our financial literacy course catalog
- Explore upcoming community events and financial literacy webinars on our Events page
- Learn more about Triangle's SEG program for businesses
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript. *This transcript was generated using AI and may contain errors or inaccuracies.
Are you an animal lover thinking about welcoming your first pet into your home? That’s so exciting! Here are some friendly tips to help you prepare for the journey of pet ownership and understand the costs involved.
Links:
- Search for and adopt your next furry friend at petfinder.com
- Use Triangle's Goal Builder tool to start a saving fund for your next pet or a sinking fund for your current one!
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast!
Owning a pet is one of life’s great pleasures. We adore our furry friends—whether they’re cats, dogs, rabbits, guinea pigs, or even gerbils! Who wouldn’t want a playful buddy to share their lives with?
When it comes to how much a pet will cost you, there can be a big range. Some pets are quite affordable, while others may stretch your budget a bit. But don’t worry—with some planning and a little research, you can get a good feel for the expenses that come with your new furry family member, making budgeting a breeze!
So, what should you keep in mind when considering costs?
First up is the purchase price. For dogs, you might find yourself spending anywhere from a couple hundred to a few thousand dollars for certain breeds. Cats typically come in a bit lower, but you should still budget a few hundred dollars. Smaller pets like rabbits, guinea pigs, and hamsters can be more budget-friendly both in terms of purchase price and ongoing care.
Remember, where you get your pet can make a difference in cost. Breeders often charge more, while adopting from a shelter can be a wonderful and economical option. Plus, when you adopt, you’re giving a loving home to an animal in need, and many shelter pets are already vaccinated and treated, saving you those initial costs. If you’re considering adoption, check out your local humane society or petfinder.com to find animals looking for forever homes.
Next, let’s chat about medical expenses. If your new furry friend needs vaccinations, treatments, or surgeries, it's good to know what to expect. Procedures like spaying or neutering are quite common; you might pay around $130-$500 for dogs and $60-$370 or more for cats.
Grooming is another consideration. Some breeds need regular grooming, and while you can definitely take this on yourself if you're up for it, a professional groomer can do wonders too. Expect grooming costs to be around $30-$90 for dogs and about $50-$120 for cats per visit.
Food is a big part of your pet’s budget, and there’s a wide range of options out there. Whether you go for dry food, wet food, or even fresh scraps (just make sure they’re safe for your pet!), you’ll want to budget accordingly. Some pet owners even get creative and feed their pets fresh veggies or other kitchen scraps—just be sure to keep their nutritional needs in mind!
Let’s not forget about supplies and toys! Depending on your pet, you’ll need to stock up on some essentials. For dogs, think about getting a leash, tags, a comfy bed, and plenty of toys. Cats will need a litter box, a few toys, and a cozy place to sleep. Smaller pets like rabbits or guinea pigs will need cages, bedding materials, and a water bottle. Make a checklist of what you’ll need and hunt for good deals so you can save a little!
If you’re bringing a dog into your life, training is a worthy investment to consider. Some pups benefit greatly from professional classes, with the average cost of classes being $300 per course. But if you’re up for the challenge, you can train them at home, too!
Planning to travel? You’ll need to consider boarding costs, which for dogs averages $40-$100 per night and for cats $30-$70 per night. Many facilities offer package deals, which can help you save a bit.
Lastly, let’s touch on pet insurance. Having coverage can be a lifesaver when unexpected costs hit. Routine vet visits might average a few hundred dollars, but emergency care can quickly add up to thousands. If you think you might struggle to cover those bills, pet insurance might be a smart move.
That’s all for today! If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for tuning in to today’s Money Tip Tuesday! Be sure to check out our other tips and episodes on the Making Money Personal podcast. Have a fantastic day!
It's never too late to start building a financial plan, but the more time you have to make your money work for you, the better. Developing good financial habits early on increases your chances of achieving financial independence, and starting in your 20s is even more beneficial.
Links:
- Start your savings journey with Triangle's Goal Builder tool
- Start your investment journey with Triangle's Financial Planning services
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Many Americans often delay building a financial plan until they're much further along in life, typically waiting for unexpected circumstances to push them into action. This habit of postponing critical decisions can create unnecessary stress and limit our ability to grow wealth. Instead of taking charge, we allow life's pressures to dictate our financial choices, which can hinder long-term success.
If you're in your early, mid, or late 20s, now is the perfect time to prioritize your financial future. Don't wait for a life event to motivate you! Starting your financial journey now enables your money to grow and compound over time, giving you a distinct advantage.
Take the initiative to outline your financial goals. By working to develop healthy financial habits early on, you'll empower yourself to make informed decisions that will lead to lasting financial security. The actions you take today will pave the way for a brighter future—don't hesitate to seize this opportunity!
Here are a few practical things you can do in your 20s to start building wealth early:
- PAY YOURSELF FIRST – Make it a point to develop good saving habits. Whether you're working part-time while in school or recently graduated and working full-time, whenever you get your paycheck, set aside a portion of your income into a savings account for emergencies or other savings goals. Any percentage is good, but somewhere around 10% is a widely accepted rule of thumb. Use a savings too like Triangle’s Goal Builder tool within online and mobile banking to start your savings plan.
- START INVESTING EARLY – Investing early in your 20s is one of the smartest financial moves you can make. The most significant advantage is compound growth—your money earns returns, and those returns earn returns, snowballing over time. Starting early also gives you more time to recover from market fluctuations, build wealth gradually, and potentially retire earlier or with more financial freedom. Explore financial resources, such as books, or connect with a financial professional to help you set up a solid investment portfolio. If you’re ready to an investment journey, get started with Triangle’s Financial Planning services. Visit trianglecu.org to learn more and get in touch!
- AVOID BAD DEBT - Not all debts are created equal. Some are better than others. Bad debts are types of borrowing that do not contribute to building wealth or generating future income. They often come with high interest rates and are used to purchase depreciating items like clothes, electronics, or luxury goods that lose value quickly. Unlike good debt, which can be an investment in your future (like student loans or a mortgage), bad debt can trap you in a cycle of repayment without long-term benefits. Avoiding bad debt is important because it protects your credit score, reduces financial stress, and allows you to focus on saving and investing for your future.
- LIVE BELOW (OR WITHIN) YOUR MEANS – Find a way to manage your money in a way that keeps you from overspending. Practicing good financial management habits can help reduce excessive spending, which might interfere with savings goals and even lead to increased debt. Understand your income and set up a budget that covers your living expenses, encourages saving, and allocates some money for fun, discretionary spending. Adopting frugal living, such as cooking at home instead of eating out, reducing food delivery services, and avoiding impulse purchases, is a great way to ensure you're living within your means and avoiding lifestyle creep.
- BUILD MULTIPLE STREAMS OF INCOME – In your 20s, you have a unique opportunity to explore various skills that can lead to extra income streams. As you build your career experience, seize the opportunity to diversify your earnings. If you're training to become a teacher, consider tapping into the lucrative world of online tutoring as a side gig. Additionally, if you possess talents in writing, graphic design, video editing, or social media management, platforms like Upwork, Fiverr, and Freelancer are excellent avenues to generate extra income. With so many exciting options at your fingertips, you can boost your revenue while simultaneously refining your skills and expertise.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Identity thieves work extra hard to trick us into giving over our personal information. But there are ways for us to implement effective tactics to safeguard our identities and stop thieves in their tracks. In this tip, we’re sharing five ways to take steps you can take to make it harder for identity thieves to steal your information.
Links:
- Explore the identity protecting benefits of a Better Checking account
- IRS Taxpayer Guide to Identity Theft
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Identity theft continues to be more than just a costly headache. Fraud scams and identity theft reports continued to top the list of scams reported to the FTC in 2024. In fact, nearly 6.5 million incidents were reported to the FTC last year, and over 1 million of those incidents included an instance of identity theft. These numbers prove that while scams and identity theft continue to evolve, so do the tactics that criminals use to commit these crimes. In this tip we’ll share some lesser-known steps you can take to help avoid becoming the next victim of identity theft and fraud.
- Use fake answers for your security questions
One simple way to add a layer of protection to your accounts is to choose wrong or nonsense answers to security questions. If at age 16, you drove a green SUV, the security answer to “What was your first car?” might be “big avocado” rather than “green Ford Explorer.” The idea is to choose an answer that only has meaning to you and cannot be easily guessed. Real answers to your security questions may have been published in the past if you have ever participated in social media quizzes, polls, and challenges. Avoid using your real information, especially information typically found in security questions, like your mother's maiden name or the name of the street you grew up on, in any situation, no matter how seemingly harmless it may seem. A moment of fun could lead to many lost hours spent repairing damage to your identity.
- Opt in for multi-factor authentication
When available, enable multi-factor authentication ("MFA") to your online accounts. MFA is a type of authentication that adds two or more layers of security beyond a password. If only two factors are used, it is sometimes referred to as two-factor authentication or 2FA. While passwords should always be difficult to guess, and you can work to protect the answers to your security questions, adding another step to the login process decreases the chance that a hacker can gain access to your accounts. MFA typically works by sending a verification code by SMS text, by email, or by voice to a phone number listed on your profile. You must enter the provided code before being allowed to complete the login process. MFA should always be added when available. To know whether your account provider offers MFA, you may need to investigate your online options or give the company a call to ask, as it is not always offered proactively.
- File your taxes early
As this IRS Taxpayer Guide to Identity Theft website states, "tax-related identity theft occurs when someone uses your stolen personal information, including your Social Security number, to file a tax return claiming a fraudulent refund." One simple way to avoid scammers getting a hold of your tax refund is to file before they do! Surprisingly, this type of fraud affects an estimated hundreds of thousands of Americans every year. Often, the scam isn’t uncovered until an individual tries to file their own return and their refund is rejected because it has already been claimed. When tax season comes around, get everything in order ` and file early. This way you can both mark the chore off your list and avoid leaving your refund out there for someone else to claim.
- Be smart and stay private on social media
Two ways people put themselves at risk on social media are by disclosing their location and engaging with strangers. It’s incredibly rare to truly need to share your location with a large group of friends and followers, yet location sharing is often an app’s default setting. Some social media platforms keep location sharing on all of the time in the background, so you can always see another user’s location. This allows ill-meaning individuals to access your home and work address, your travel routines, when you might be out of town, and your favorite vacation destination. Mobile location settings are often lifesavers when navigating in a new city or avoiding traffic jams, but allowing the social media universe to know where you are at all times is never necessary and can be detrimental to the security of both your identity and your possessions. While most people know to limit the information they share with those they meet online, there are still thousands of cases each year of people losing their money or identity information to a romantic interest or a new friend who wasn’t who they claimed to be. Remember to keep your personal information private if you make connections online.
- Routinely check your "in-app" privacy settings
Occasionally, posts, articles, or notifications will remind us to review our privacy information, and for a time after doing a reassessment, our settings will remain locked down. However, sharing a public post from a business (to qualify for a prize, for instance) can reset your privacy preferences for future posts. Creating an intentionally public post, like when you have an item to sell or need to find a missing pet, can also change privacy settings on a future update that you intend to be more personal. On a regular basis, check your privacy settings in the apps where you are active, and take an extra second to check each social post before publishing to ensure that it is reaching only who you intend. Consider culling your friends list to those in your inner circle, or set most of your updates to only reach a select number of friends and family. Games and shopping apps are often checking your background in the same way to show you more relevant and personal ads. Locking down what you are sharing will help you protect your information while also using the internet to stay connected with friends and family in the way that you intend.
Add an annual task to your calendar to check in on these security measures and get started now. Also verify that your account passwords aren’t reused or easy to guess (especially on banking, mortgage, and investment accounts).
And remember, if you suspect that your identity has been compromised, you have access to an Identity Theft Recovery Advocate as a benefit of your Triangle Better Checking account. These professionals are trained and ready to help you reverse the damage and get back on track quickly. They’re experienced advocates who know how to spot identity theft and, when necessary, will support you through the process of repairing any damages.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Vehicles can get expensive. The average American spends approximately $12,000 on vehicle costs annually, according to the U.S. Bureau of Labor Statistics (2023). Are there ways to cut those costs and save a little money on expenses?
Links:
- Research tools like Gas Buddy as an option to save money on gas purchases*
- Check out Triangle's competitive auto refinance rates
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
This money tip outlines a few things you can do to reduce your vehicle expenses.
With everything from gas to repairs to purchase and resale, owning a car can be expensive. Of course, the purchase price is worth noting, as well as your financing costs or interest. But what about maintenance and fuel efficiency?
If you are searching for a vehicle, this provides insight into what to consider when making a purchase. If you already own a car, you may find some of these tips helpful in saving money over time.
- Tip 1: Be savvy, buy used. This can save you money right off the bat. You don’t need to get an old vehicle; something 2-3 years old is fine. But compared to buying a new car, you could save yourself thousands off the price tag. A new vehicle can average around $47,000 according to Kelley Blue Book. However, due to depreciation, the same car can cost about half its original price in only a few years. The average price for a used car is around $26,000. If you buy a vehicle that’s a few years old, you can save yourself a good chunk of change right off the bat and still get a good, reliable car.
- Tip 2: Get regular servicing. Tire rotation, regular oil changes, and even car washes can all help extend the life of your vehicle. Although these are all considered expenses, regular maintenance can save you quite a bit of money in the future because you’re less likely to incur repair costs and it helps maintain the value of your car. It also extends the life of your vehicle, keeping you from having to buy another car every 7 years. Pay attention to your vehicle, budget for regular maintenance costs, and you’ll pay less overall.
- Tip 3: Take control, perform repairs or maintenance yourself. If you’re mechanically inclined, you may be able to do some of the work yourself. Some car servicing or repairs are easy enough to do yourself. You may not need to pay someone for servicing when you are just as likely to perform the job yourself. YouTube is an excellent resource for watching repair or service vehicles. You’ll most likely be able to find a tutorial for your car and watch someone perform the repair. Just make sure you know what you’re doing so you don’t make a mistake that requires a professional to fix.
- Tip 4: Find ways to reduce your gas expenses. You can achieve this by purchasing a fuel-efficient vehicle, such as an electric car or a hybrid. If you are not looking to buy another vehicle, consider reducing the number of miles you travel. Consider staying home a little longer if you’re usually on the go. You can also use an app like GasBuddy to search for the nearest gas stations and their prices, avoiding the need to drive across town to your favorite, low-cost station.
- Tip 5: Refinance your car payment. This is always a good option if you find your car payments are just too high. Shop around for low rates and try refinancing your car loan. This can save you a significant amount of money in expenses and reduce your monthly car payment. Triangle offers refinancing at competitive rates. Visit trianglecu.org to check the current rates and apply to refinance your vehicle.
What did I miss? What are some other ways you save money on your car expenses?
Let us know on social media. Share your tips and tricks. There may be someone else out there who could use the extra tips. Together, we can all save a little more.
Vehicles can get expensive. The average American spends approximately $12,000 on vehicle costs annually, according to the U.S. Bureau of Labor Statistics (2023). Are there ways to cut those costs and save a little money on expenses?
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
*The mention or use of the GasBuddy app in our materials is provided solely for informational purposes and does not constitute an endorsement or recommendation by Triangle Credit Union. We do not receive compensation or benefits from GasBuddy, and we are not affiliated with its developers or operators. Users are encouraged to independently evaluate the app and its features to determine its suitability for their needs. All trademarks and brand names are the property of their respective owners.
In an era where technology is intertwined with our daily lives, fraudsters are continually devising new strategies to steal sensitive information from unsuspecting individuals. Among their most insidious tactics is phishing—a deceptive practice designed to manipulate you into divulging your personal information without your awareness.
- Learn more about KnowBe4 Awareness
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday, brought to you by the Making Money Personal podcast!
Today, we’re sharing crucial insights inspired by an article from KnowBe4 Security Awareness and Training Solutions.
Security Tips: How to Detect Phishing Emails
As phishing activities increasingly proliferate, remaining vigilant is of paramount importance. Here are some key indicators to scrutinize before you take any action on an email:
- Is it Expected? - Take a moment to consider whether you were anticipating this email. If it appeared unexpectedly, exercise caution as it may not be legitimate.
- Is it Reasonable? - Context matters. Ask yourself whether it makes sense for you to receive this type of correspondence. If the content feels out of place or irrelevant, it’s wise to be skeptical.
- Are There Grammatical Errors? - Pay close attention to the language used in the email. Messages that claim to be from established companies often contain spelling mistakes or poor grammar—this is frequently a clear warning sign of a phishing attempt.
- Does It Contain a Link? - Always hover your mouse over links without clicking to verify their authenticity. For example, if an email claims to be from emailaddress@google.com but the link leads to a suspicious domain like website.yahoo.com, you’re facing a significant red flag.
- Does It Have an Attachment? - Be cautious about opening attachments, as they might harbor malicious programs disguised as harmless files. It’s best to avoid clicking on attachments from unfamiliar sources.
- Does It Create a Sense of Urgency? - A common tactic among phishing emails is to instill a sense of panic, prompting you to act quickly. They may claim to be from a high-ranking official or require immediate attention. Resist the urge to respond hastily—take a moment to assess and critically evaluate the situation to protect yourself from potential phishing attempts.
Stay vigilant and take proactive steps to safeguard your personal information!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
What does being wealthy truly look like? We imagine having big fancy houses, exotic vacations, and high status jobs. But what if I told you that most millionaires, even decamillionaires today, might not look quite like the famous person on your tv or phone screen, but more like your average Joe, living in a house down the street? That scenario is more than norm than you may realize, and that’s good news for everyone.
Links:
- The Millionaire Next Door by Thomas J. Stanley and William D. Danko
- Learn more about this Money Tip's sponsor: New England Royal Service
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Today’s Money Tip is proudly sponsored by New England Royal Service. A local NH business offering commercial cleaning and property maintenance trusted for its exceptional service. Visit neroyal.com to learn more and show us a little love by mentioning this podcast when you reach out!
Now back to today’s tip.
Reading books is a powerful way to shift your mindset about money and finance, along with gaining practical techniques to achieve your desired financial life. One notable book is The Millionaire Next Door by Thomas J. Stanley and William D. Danko. First published in 1996, the book delves into the habits of the wealthy, challenging many common misconceptions about wealth.
The authors break down key concepts that question the stereotypical views of wealthy individuals. For instance, wealth isn't always visible, and attaining it isn't solely dependent on income or profession; anyone can adopt wealth-building practices. This idea is fundamental, as many believe wealth is an exclusive domain, locked away by a hidden secret known only to a select few. However, the book demonstrates that with intentionality, focus, and cultivated habits, anyone can build wealth.
Stanley and Danko conducted thorough research across various demographics to uncover what distinguishes wealthy individuals from those who are not. The findings are often surprising. The common belief that a high salary guarantees wealth is swiftly debunked; while income does play a role, how individuals manage their finances holds greater significance.
Another revelation from the book is that appearances can be misleading. A person flaunting a large house, designer clothes, or a luxury car may not be financially secure. The pressure to project an image of wealth often incurs hidden costs. The authors shared, "many people tell us that you can judge a book by its cover, meaning that high-grade doctors, lawyers, accountants, and so on are expected to live in expensive homes. They also are expected to dress and drive in a style congruent with their ability to perform their professional duties."
Interestingly, surveys discussed in the book indicated that many millionaires do not prioritize purchasing luxury items. They tend to be frugal, preferring utility over showmanship when it comes to their spending habits. For instance, their survey results showed that the average American millionaire never spent more than $399 on a suit, with a quarter spending $285 or less. Additionally, about half never spent more than $140 on shoes, and many did not exceed $235 on a wristwatch. Remember that the surveys were conducted in the 90s, so the actual dollar amounts may have shifted a little bit since then.
The authors highlight a critical distinction between high wealth accumulation and the ostentatious display of wealth. They state, "...some people judge others by their choice in foods, beverages, suits, watches, motor vehicles, and such. To them, superior people have excellent tastes in consumer goods. But it is easier to purchase products that denote superiority than to be superior in economic achievement."
Such insights highlight the significant role of frugality in wealth accumulation, which is often overlooked. The authors state, "Being frugal is the cornerstone of wealth-building. Yet far too often, the big spenders are promoted and sensationalized by the popular press. We are constantly barraged with media hype about so-called millionaire athletes, for example."
The book encourages readers to realize they have more control over their financial destinies than they might think. Adopting millionaire habits can be achievable for anyone. For example, individuals can adjust their consumption patterns to reduce spending and enhance savings. Moreover, selecting a career with a clearer understanding of associated costs and responsibilities—be it pursuing a doctorate or starting a business—can maximize financial outcomes.
Encouraging a 'pay yourself first' mentality in personal and family finances is another valuable takeaway. This mindset helps prioritize saving over unnecessary spending, providing a sense of security and control over one's financial future.
If you're considering reading the book, there are a few points to keep in mind. The wealth of data and statistics presented may come across as dry if you're not inclined toward research-driven narratives. Furthermore, since the book was initially written in 1996, some of the information may now seem outdated. My copy was republished in 2010, but monetary values and occupational statistics have undoubtedly evolved since then. A dollar in 1996, for instance, had greater purchasing power than it does today, which can affect how some financial principles are perceived.
Overall, The Millionaire Next Door offers valuable insights into the habits and mindsets that contribute to wealth accumulation. By debunking common myths and encouraging practical financial habits, it provides a more accessible view of how anyone can work toward financial success, equipping readers with actionable steps to improve their economic situation.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Craving freedom, flexibility, and a front-row seat to nature’s wonders? Whether you're chasing sunsets or seeking spontaneous detours, RV vacationing can save you hundreds on lodging and dining costs. Discover five compelling reasons why vacationing in an RV might just be the ultimate way to explore the open road.
Links:
- View Bankrate's Summer Vacation Survey
- Check out Triangle's competitive RV Rates and low-rate auto loans
- Learn more about this Money Tip's sponsor: New England Royal Service
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Today’s Money Tip is proudly sponsored by New England Royal Service. A local NH business offering commercial cleaning and property maintenance trusted for its exceptional service. Visit neroyal.com to learn more and show us a little love by mentioning this podcast when you reach out!
Now back to today’s tip.
Summer is right around the corner which means you are probably planning your summer vacations with loved ones. Ditch the family vacation to the amusement parks this year and take the family on a road trip in a recreational vehicle or camper!
Here are 5 reasons to vacation in an RV:
- Cost-effective travel. According to Bankrate’s Summer Vacation Survey, 47% of Americans chose not to go on a summer vacation in 2024—65% citing affordability as the reason.
One of the biggest vacation costs is transportation, which includes airfare, car rental, parking fees, gas, etc. Now factor in the cost of a hotel room and food on your vacation, and the costs really add up.
When you vacation in an RV, your transportation and place to sleep are rolled into one which helps cut down on costs. Plus, RVs have small kitchen areas included to stock up on food staples before you begin your trip. Instead of eating out for every meal, you can cook some meals in your RV and lower your total vacation costs.
- Flexibility. Gone are the days of booking a vacation based on the cheapest flights or hotels. RVs give you increased flexibility because when you are traveling and staying in your own mode of transportation, you are not locked down to specific dates and times for vacation.
There’s also flexibility if something occurs and you need to delay your vacation by a week. You don’t need to worry about changing flights or booking new accommodations because you are traveling in your own mode of transportation.
- Bring Your Pets. Another pro of vacationing in an RV is being able to bring your pets along. Instead of asking your friends or family to take care of them, or even paying to have someone look after them, you can take them along as travel companions.
Not only is this a good choice for your finances, but it also provides peace of mind so you can spend your vacation relaxing instead of worrying about how your pets are doing without you.
- Privacy and Comfort. Why would you want to squeeze into the middle seat of an airplane when an alternative is being able to stretch out in the sleeping area, sit in the dining area enjoying a meal or even using the private bathroom while traveling to your destination.
When it comes to sleeping, you have the security of having your own space which can help you feel safer than an AirBnB when in an unfamiliar place. Plus, you can tow your own car behind your RV; that way if you want to explore each destination a little deeper, you can do so in your own car and can avoid a rental car.
- Bring Home with You Wherever You Go. Another benefit of vacationing in an RV is bringing and using what is most familiar to you. We’ve all had a terrible night stay at a hotel while on vacation because the pillow just wasn’t right or the blanket was too rough. When you vacation in an RV, you can bring your own pillows and blankets (among other things) with you for those comforts of home.
RVs provide more storage space as well which means you aren’t confined to just what you can pack in a suitcase. In addition to more clothes, shoes, and bedding, RVs offer the opportunity to bring other things you can use on your vacation.
Maybe you have bicycles or kayaks that you want to use when exploring your new destination; if so, you can bring these along with you when you have the space in an RV!
If you’re ready to take the plunge and finance an RV or camper, check out Triangle Credit Union’s competitive rates. We also offer low auto rates on new purchases and vehicle refinancing!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Buy Now Pay Later is a short-term loan that allows consumers to pay for their items in small installments over time. However, due to the popularity of Buy Now Pay Later, there has been an increase in what many have started to label “phantom debt”.
Links:
- Learn more about this Money Tip's sponsor: New England Royal Service
- Explore debt consolidation loan options from Triangle Credit Union
- Watch our Financial Freedom webinar for tips on how to manage and get out of debt
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Today’s Money Tip is proudly sponsored by New England Royal Service. A local NH business offering commercial cleaning and property maintenance trusted for its exceptional service. Visit neroyal.com to learn more and show us a little love by mentioning this podcast when you reach out!
Now back to today’s tip.
The term phantom debt can mean multiple things. Traditionally, phantom debt is a debt that is too old to collect legally, so it’s either written off or sold to a collection agency. Phantom debt may also refer to when scammers try to collect money that is not owed to them by threatening legal action. However more recently, phantom debt has come to mean a debt that can’t be measured since it’s not reported.
According to many reports, Buy Now Pay Later is a large producer of these unmeasured phantom debts. Because of its convenience, consumers are finding it easier to use Buy Now Pay Later services to pay for larger items in smaller installments than paying for it all upfront. However, that means people are using Buy Now Pay Later to buy more big-ticket items than they can actually afford. This results in loan stacking, which is borrowing multiple loans at the same time. With more and more of these Buy Now Pay Later loans, it can be difficult for consumers to keep track of them. If you don’t pay these loans on time, you will get hit with late fees and your credit score will lower.
If you’re struggling with Buy Now Pay Later debt, aka “Phantom Debt”, there are a couple things that you can do. The first thing you can do is request a payment extension. Some Buy Now Pay Later lenders will let you either change or extend the payment due date which can provide some much-needed extra time pay off the debt. You could also apply for a debt consolidation personal loan, which would combine some or all of your debts into one single loan. This not only makes it easier to keep track of existing debt but it can even help improve your credit score as you make those regular, consistent payments to pay it all off on time.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for Triangle Credit Union, on Facebook and LinkedIn.
Have you ever wondered what it takes to become a truly impactful leader? In this episode, we'll explore practical strategies for cultivating leadership skills that can transform both your personal life and your professional life. Join us as we discuss some actionable insights and a few stories to help you become a more effective and influential leader.
Links:
- Leaders Eat Last by Simon Sinek
- Dare to Lead by Brené Brown
- Winning Leadership by Sherry Winn
- Follow Adriana's Business on Facebook: The Process Reinvention LLC
- Email Adriana: theleanidea@gmail.com
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Struggling with debt can feel overwhelming, but with the right strategies, it's possible to regain control and build a more secure financial future. Fortunately, there are practical and proven methods to reduce and manage debt effectively, no matter your financial situation.
Links:
- Check out NerdWallet's Top Budget Apps for 2025
- Learn more about Triangle's personal loan options for debt consolidation
- Financial webinars for Budgeting and Paying Off Debt
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Debt is a tool, and it can be very useful when used properly. Borrowing money can help us buy our first car, get into our first home, or even pursue that degree for our dream job. But like any tool, it's possible to get into trouble if we don't understand how to use it.
Taking action when debt becomes burdensome is essential. Recognizing the various signs can detect unmanaged debt, and this awareness can bring a sense of reassurance.
Unmanageable debt can reveal itself in some or all of the following ways: There’s no ability to save money because it’s all going to payments, you have a heightened sense of worry, stress, or anxiety over financials, and your debts aren't being paid on time and are heading towards or currently in collections.
Based on these factors, reducing debt to a manageable level is a net positive for your life. It's not just about the numbers; it's about the hope and freedom it can bring. Reducing debt not only improves financial health but may also improve mental health.
Pursuing and achieving financial freedom usually starts with some form of reducing debt and proper management is essential to get there. Once managed, you can push that throttle forward and speed rapidly toward finally getting it under control.
Here are three top strategies to reduce and manage debt effectively:
- Simplify your payments by organizing and consolidating. Budgeting is a key part of this process. We often stress the importance of budgeting because it's the foundation of successful debt management. It's hard to plan without a budget, and your debt payoff effort won't be as effective. Educate yourself on successful budgeting tactics and find the one that works best. Whether it's pen and paper or a digital app, it is essential to keep your budget organized. You can also explore some of the top budgeting apps. For example, Nerdwallet published a list of the top budgeting apps for 2025, so check out the link in the show notes.
Explore consolidation loans or other debt assistance programs. If debts are tough for you to manage, a debt consolidation might take that pressure off and give you the necessary breathing room. It enables you to group some or all your various debt bills into one consolidated payment that's easier to manage. For help, contact staff at your local bank or credit union. They could help illuminate the right options for your situation and cover the various details involving a debt consolidation. 2. Find a way to lower your bills. Cut back on spending if possible. Avoid unnecessary purchases and cancel unused subscriptions.
You can also explore ways to refinance your debts, whether auto, personal, credit cards or student loans to a lower interest rate. By shopping around for lower rates, you may be able to decrease your monthly payment, freeing up more cash to put towards your existing debt. This can also be a significant saving over the life of the loan, making it a worthwhile strategy to consider. And you can lower bills by negotiating with providers and businesses for better rates or payments. Cell phone providers, car insurance companies, cable and internet providers, and even gym memberships will likely try to work with you on a better deal. If not, shop around and see if you can find that better deal elsewhere. 3. The third way to start managing debt better is to find ways to increase income. If you're currently working, consider asking for a raise, or even working overtime to bring in a little more each paycheck.
Explore a new job for opportunities that might land you a better salary or consider picking a second job to work a few extra hours each week. Even working an extra 10 hours per week could provide the right amount of buffer in your budget to chip away at that big debt pile.
If you need something more flexible to bring in more money consider gig work or freelance work on the side to bring in extra cash. You could try delivery or Uber driving, pet sitting, or dog walking, which are all popular ways to easily try out gig work. Also, don't forget about other opportunities like tutoring, graphic design, photography, or babysitting. If you decide to try this, remember to set aside a portion of your earnings for taxes.
If you need help getting started on your debt payoff plan, we offer webinars to watch on YouTube that cover a variety of budgeting tools and strategies as well as putting together a debt payoff plan tailored for your situation. Watch on demand using the links posted in the show notes.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Figuring out where to live is a significant and costly decision everyone has to make at some point. If you want to purchase a property to make your home, condominiums, and houses are what you want to look at.
Each has pros and cons, and depending on your lifestyle, you may lean towards one over the other. Keep listening to learn which option is right for you.
Links:
- Learn more about Triangle's mortgage products
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The main difference between a condominium and a house is that when you buy a house, you purchase the land and the building on it. With a condominium, or condo for short, you buy the unit and share the land with other condo owners.
Unlike apartments, you don't pay rent on houses and condos; you pay your mortgage and a condo HOA fee (more on that in a minute). However, some condos are available to rent if you prefer, but that means you won't build equity over time. When you buy a house or a condo and start paying your mortgage, you'll build up equity.
One compelling reason to consider a condo over a house is the pricing. Condos are typically more affordable, making them an attractive option for first-time buyers. A study by the National Association of Realtors found that the median price of detached single-family homes was $42,000 more than the median price of condos, a significant difference that could make homeownership more accessible.
However, condos usually have additional fees attached. Condos typically have a Homeowner Association, or HOA for short, which comes with fees. Some HOA fees include utility fees such as water, electricity, and more, which you would've had to pay anyway if you bought a house.
An advantage of condos over houses is that upkeep is a lot easier. Due to the HOA fees mentioned, someone will handle all the exterior maintenance, like lawn mowing, snow removal, and general outdoor upkeep. With a house, you'd have to do everything yourself or hire someone else.
While this has advantages, a condo may not be for you if you enjoy taking care of your lawn and garden and don't want to share it with your neighbors. Similarly, a condo is probably not the way to go if you value your space. With some condos, not only are you sharing your outdoor spaces, you might also be sharing walls. Many condos are attached so you will be very close to your neighbors. However, there are detached condos that aren't. Depending on your lifestyle, you might value this tight sense of community, or you might want your space away from others.
A downside to condos is you have less autonomy over what you can and can't do with your space. Some HOAs have stringent rules, such as how you can decorate the outside of your unit and what pets are allowed. While some neighborhoods where you buy a house might have an HOA, you typically are not restricted with what you can and can't do to your home.
Condos might also be harder to sell than houses, especially if the HOA is mismanaged. If you notice that many condos in the area are for sale, that might be a red flag that people are trying to leave this community.
There are upsides to condos in that the insurance is generally cheaper than buying a single-family home. This is because you are only responsible for the inside of your home, compared with having the land and house insured.
Which is the better choice for you, a house or a condo? The answer lies in your lifestyle and what you value most. A condo could be the perfect fit if you're looking for a more affordable option and don't want to worry about outdoor upkeep. On the other hand, if you value your personal space and prefer more autonomy, a house might be the better choice. It's all about finding the right balance that suits your needs and preferences.
Whatever you choose, if you're looking for a mortgage, Triangle Credit Union has got you covered. Triangle offers affordable mortgage solutions for whatever your situation might be. Visit trianglecu.org today so we can help you start on your housing journey.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
What does it take to become a great leader? Leadership skills aren't only for high-ranking executives and key decision makers. They can be used by people in all stages of life and occupations, from teachers and household managers to small business owners and team leaders.
In this episode, we welcome back Adriana Torres, a dedicated SCORE volunteer and successful entrepreneur, to share her insights and some practical tips on how all of us can elevate our own leadership skills.
Links:
- Leaders Eat Last by Simon Sinek
- Dare to Lead by Brené Brown
- Follow Adriana's Business on Facebook: The Process Reinvention LLC
- Email Adriana: theleanidea@gmail.com
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Recession, crisis, tariffs, inflation—all these words circulating around the media and internet for the past few weeks have made many people uneasy and a little frightened about the future. Stories of an alarming nature are circulating daily, so if you're beginning to feel spooked, you're not alone.
Whether or not a real economic crisis will happen is hard to predict, but setting some safeguards for your financial future can give you some solid peace during turbulent times.
Links:
- Set aside cash in a savings account for potential emergencies
- Explore our many Financial Planning Services
- Watch our Debt Reduction Webinar to learn how to put together your own debt reduction strategy
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you've been following the news lately, you're likely hearing alarming messages warning of a looming recession, empty store shelves, economic uncertainty, and the possibility of a global financial crisis.
Many of our brains are wondering how likely we are to experience these challenges and, if so, when.
First and foremost, it's crucial to stay calm. Remember, news stories are often sensationalized for attention-grabbing headlines, with little substance behind them.
This doesn't mean that there might not be some financial challenges coming down the pike, but the good news is that, we can take specific, measurable steps to safeguard our finances for the possibility that something might occur.
If you're feeling uneasy about your financial future, here are a few ways to safeguard your finances during economic challenges and even recessions.
- Save money. If economic uncertainty increases, the chances of job loss, price increases, and unplanned expenses go up. Having money set aside for those purposes is not just wise, it's a crucial step towards feeling secure and prepared. Having money saved in an emergency fund can also keep you from relying on credit or dipping into retirement if you need money. It's wise to have some saved in an account you can easily withdraw from, and to even have a portion of it as cash at home in case there are tech disruptions, or you don't have the time to get to a bank or ATM.
- Work to pay down excessive debt. When it comes to economic uncertainty, crippling debt can be a liability. Many Americans carry a variety of debts, but if your debt has become burdensome to the point that it's causing stress, you owe it to yourself to do something about it. Those carrying crippling debt don’t have the freedom to adapt which proves so valuable during economically challenging times. To safeguard your financial health against economic challenges, it's important to start paying down your debt. Focus on an effective debt-reduction plan like the debt snowball or debt avalanche method. If you’re unsure where to start, check out our debt reduction webinar on our YouTube channel for a practical and easy-to-follow debt-reduction strategy. Don’t panic and feel that you have to be fully debt-free to weather an economic storm. Instead, focus on minimizing your debt to free up more income for your needs as they arise.
- Review existing investment portfolios. If you're worried about future economic challenges, it's a good time to look at your current portfolio. The point of this isn’t to panic, but to determine whether it’s time to make strategic moves in the market. Doing this can provide reassurance and a stronger sense of control. Economic factors impact investment and retirement accounts, so at times situations may arise to make adjustments. For those unfamiliar with investing and markets, it's ideal to sit down with a professional who can review everything and provide a custom assessment regarding your portfolio. Financial planners with investing experience can be excellent guides because they've been watching markets, can see trends, and have a comprehensive understanding of the various factors at play within the economy. If you're interested, Triangle's financial planning services offer expert advice on making the right investment moves in a volatile market. Visit trianglecu.org to explore resources for investing and preparing for the future.
- Cut back on expenses and practice frugality. When times get lean, making the most of what you have, and cutting back on spending can give you an advantage. Practicing this gives you control over your money and lifestyle in a way that can shield you against the many unexpected possibilities like unemployment and rising prices. Unemployment isn't always a result of challenging economic times, but if history is any teacher, the likelihood of layoffs increases. Positioning your finances to shield yourself against a potential job loss is essential. Along with having an emergency fund and working to pay down debt, mentioned earlier, it may be worthwhile trying to cut back on unnecessary expenses. Use more of what you have, cut back on purchasing things you don't need, and get creative by substituting the purchase of expensive items and activities with more inexpensive ones.
- Look for ways to build skills to help with everyday life. Sometimes, with some vision and creativity, you can turn a misfortune into an opportunity. Building new skills may be able to help relieve the economic burden. This may be the time to learn skills that can assist with providing for daily needs. Activities like gardening when done effectively, can help reduce food costs, and skills like clothes making or mending can make your current clothes last longer plus cut down on the need to purchase new ones. You can also explore other skills like simple car repairs, simple plumbing, home repair, wood working, construction and more. Building skills in these areas could open doors for opportunities to help yourself and others in a time of need. Explore some resources like DIY books, YouTube channels, or online groups to get instructions and advice from experienced people covering all kinds of projects. Plus, becoming proficient in new skills can also open doors to potential future income streams that would help supplement your existing income.
In times of financial uncertainty, taking proactive steps to secure your financial situation can provide a sense of control and stability. By saving money, reducing debt, and reassessing investments, you can better prepare for potential challenges ahead. Remember, staying informed and making thoughtful decisions now can lead to a more secure financial future, no matter what comes your way.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
With cryptocurrency's increasing popularity, it's crucial to be aware of the prevalence of crypto scams. Cryptocurrency is a digital currency that uses cryptography to secure transactions. However, the rise of crypto has also led to a surge in scams. It's important to stay alert to spot these scams and avoid falling victim to them.
Links:
- Report any crypto scams you encounter to any or all of the agencies below:
- https://www.fbi.gov/contact-us
- https://reportfraud.ftc.gov/
- https://www.cftc.gov/complaint
- https://www.sec.gov/submit-tip-or-complaint/tips-complaints-resources/report-suspected-securities-fraud-or-wrongdoing
- https://www.ic3.gov/Home/Index
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
One important thing to note about cryptocurrency is the U.S. government does not back it. If your crypto account gets hacked or the company that provides storage for your wallet goes out of business, your money is gone. The government has no obligation to step in and help you get your money back. In comparison, U.S. dollars deposited into an FDIC or NCUA-insured account are safe. Those coverages insure deposits up to $250,000 in the event of a financial institution failure.
That said, it's important not to fall for a cryptocurrency scam. Here are some common scams and their warning signs. First, suppose someone you're considering doing business with only accepts cryptocurrency payments. That should be a red flag, especially if the company demands that you send the payment before receiving any product or service.
A common crypto scam is an investment scam. If someone asks you to invest in a new crypto coin that guarantees quick and significant returns, it's most likely a scam. Crypto investment scams can come in many forms. A scammer might pose as an investment manager promising to make you rich if you buy cryptocurrency and transfer it to their account. They might even create a fake website to trick you further. It's also known that scammers have tried to impersonate celebrities, offering to multiply any cryptocurrency you send them. Scammers will also go on dating apps to find their targets. They might seem interested in you, but it's a red flag if they start talking about crypto and try to get you to invest with them.
Rug pull scams are also very common with cryptocurrency. Rug pull scams are when investment scammers pump up a new NFT or coin to raise funds. Once they get the money that people invested, they disappear. The way these "investments" are coded prevents people from being able to sell or trade them, making them effectively worthless.
Another crypto scam is when fraudsters impersonate a business or the government. They might say they're from Amazon, EZ-Pass, or even your financial institution and claim that there's fraud on your account or your money is at risk. They'll say that to fix the issue, you have to send them crypto. Don't click links or respond to their messages; it is a scam.
One last crypto scam is blackmail. Scammers might contact you saying that they have compromising photos, videos, audio, or information about you. If you don't send them crypto, they'll send it all to your friends, family, place of work, and school. Don't do it and report it to the FBI immediately.
If you encounter a crypto scam, there are a few things you should and shouldn't do. First of all, don't engage with the scammer. Many of these scams are mass messages that the scammer sends out and are not explicitly targeted at you. Responding to the scammer lets them know you exist and can be targeted for their scam. What you should do is ignore the message. You can also report the fraud to multiple places, including the Federal Trade Commission, the Commodity Futures Trading Commission, the U.S. Securities and Exchange Commission, the Internet Crime Complaint Center, and the cryptocurrency exchange company you encountered the scam on. Links to all of these resources will be available in the show notes.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Managing personal finances can be daunting in today's fast-paced world. However, with the emergence of personal finance apps, individuals now have powerful tools to simplify and enhance their financial management. These apps transform financial habits and empower users to take control of their overall financial health. This tip will delve into the top benefits of using personal finance apps, shedding light on how they can put you in the driver's seat of your financial journey.
Links:
- Explore the benefits of Triangle's mobile app and online banking services with TCUGo
- Check out the useful benefits of personal finance tools like Goal Builder and Money Management
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal Podcast.
Personal finance apps continue to rise in popularity as people grow more digitally savvy and tech expands in processing and functionality. Using a personal finance app can significantly improve your financial game by helping you overcome challenges, get organized, and stay on track to meet goals. A report from Future Data Stats states that 70% of users improved their financial habits and budgeting skills when they used a personal finance app.
The key to achieving financial independence is to build the skills of managing personal finances effectively. The hard part for many is determining where to start. That's where personal finance apps and tools come in. They provide a sophisticated, user-friendly way to conveniently set up and manage finances. If you're not currently using a personal finance app or tool, consider using one. Here are a few top benefits of using a personal finance app.
The first benefit is that personal finance apps allow users to manage their finances anytime, anywhere. It's hard to beat the convenience and flexibility of on-the-go financial management. They keep all your information within arm's reach and provide functions and tools like access to real-time financial data and integration with bank accounts and credit cards for seamless tracking. Explore your app store for common, highly rated apps to try out. Also, consider exploring your financial institution's mobile app, which provides many of the same tools at no added cost.
The second benefit is that these apps offer robust tools for budgeting and tracking expenses. Although some might still prefer using pen and paper, for most people today, this method is waning. Personal finance apps provide budgeting tools with the latest technology and sometimes even AI capabilities to keep you on track with budgeting and tracking expenses. They provide ways for you to categorize spending to help identify patterns and areas for improvement, they offer alerts and reminders for upcoming bills and due payments, and they can provide you with deeper insights into your spending habits to help you stay within your budget.
A third benefit is that personal finance apps can significantly enhance financial security and instill user confidence. Storing your banking information digitally, especially when linked to different platforms, can concern many. However, reputable apps have robust security measures to protect your personal information. These apps use encryption and other security measures to protect your financial data.
To sum up, to successfully accomplish financial goals, you need to build effective money management skills, and using a personal finance app is a great way to get started.
When it comes to financial management, choosing the right app based on your needs is critical. Explore your app store for different options, read reviews, and look through functionality to determine the best app for you. If you're a Triangle member, consider exploring the various tools within your online and mobile banking account, like Money Manager and Goal Builder, to organize budgets, pay down debt, and set savings goals.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Insurance is a common expense for many people but understanding the ins and outs of coverage can be challenging. In this episode, we delve into the vital role of the New Hampshire Insurance Department in safeguarding your personal and financial well-being.
Join us as Deputy Insurance Commissioner Keith Nyhan shares insights on common insurance issues essential coverage tips and the many resources available to help you navigate the complexities of insurance.
Links:
- For insurance information or assistance contact the Consumer Services Hotline at 800-852-3416
- Contact the NH Insurance department at: consumerservices@ins.nh.gov
- Learn more about insurance assistance and help at: insurance.nh.gov
- Explore video resources on the NH Insurance Department YouTube channel
- To find a local insurance agent visit Big I NH at biginh.com, or call 603-224-3965
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Spring is finally here! With renewed energy and brighter, warmer days, you might be motivated to do spring cleaning. Of course, this time of year is a great time to organize, refresh, and clean around your home, but this season, take some time to do the same with your finances.
Links:
- Learn more about checking your credit score with the Better Checking Account app
- Set up automatic savings goals with the Goal Builder tool in online and mobile banking
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
This season is an excellent time to do a lifestyle refresh, especially regarding your finances. For those feeling motivated to tackle a new project, channel that seasonal energy to review and reorganize your current financial situation for a few ways to save yourself some dough.
Here are five ideas to help you spring-clean your finances this season.
- Review your budget. Take some time to look closely at your expenses and income. Have you been spending more than anticipated? Do you need to tweak a few budget items to adjust for recent economic changes? Look through where you're spending money and re-allocate your budget if necessary. This responsible action puts you in charge of your financial decisions.
- Check your credit report. Get a copy of your credit report from all bureaus. At the very least, get one copy, even from one bureau. Look over it. Check your score, lines of credit, and any changes or updates made over the last quarter. Reviewing your report is a great way to determine any changes you need to make to improve your score and to see if any past changes have impacted it. For those with a Triangle Better Checking account, you can access your credit score and report through the dedicated Better Checking app. If you haven’t registered yet, check the link in the show notes on how to get started.
- Automate savings. If you haven't been regularly transferring money into a savings account, take some time to set up automatic savings. It's easier than you think. Use tools like Triangle's Goal Builder within online and mobile banking to set goals that make building that savings account much easier. The tool automates saving a portion of income into a set category over time so you can set it and forget about it, giving you reassurance and confidence in your financial management.
- Consolidate debt. Look into all the existing rates on your car, home, credit cards, and more. If you think those rates you're currently paying are higher than you'd like, do some shopping around for lower rates. If you are in a good position to refinance or do some debt consolidation, take the opportunity to restructure your debts and free up some money.
- Review subscriptions and memberships. If you're juggling a lot of subscriptions, take control. Note how much you're paying and whether or not you're using them. If you're paying for some that you're not using, now's a good time to cancel or downgrade your plan to a free tier if available.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day everyone!
Today, overconsumption has grown pervasively in many of our lives. Or at least the temptation to overconsume. In this time of influencers, shopping hauls, and restocking videos, it's important to remember the effects that overconsumption can have on not only our lives but also the lives of others and, ultimately, the environment.
If you're hoping to combat overconsumption habits in your own life, there are ways to recognize and bar yourself against the habit, leading to a more fulfilling and mindful lifestyle.
Links:
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
What is overconsumption? Overconsumption happens when we buy more stuff than we need. If you're perpetually on the internet like I am, you've probably seen restock videos, unboxing videos, shopping hauls, and influencer must-haves. These are items that influencers, who have a large following on social media, often promote as essential or trendy, leading their followers to believe they need these items too. More often than not, these videos showcase extraordinary purchases to show off their collections or entice you to buy the item presented. They're almost always aesthetically pleasing and show off in carefully crafted ways to get viewers to picture themselves owning or using the item.
But this is all part of the vast overconsumption environment we're in.
You may know what I'm talking about, as some signs in your home may point to this phenomenon. An overflowing closet, overstuffed drawers, and piles of things littering the hallway are all examples of what can happen when we overbuy. Recognizing these signs is the first step towards a more mindful and sustainable lifestyle.
Some common signs of overconsumption are buying clothes you'll only wear once, wasting food because of overbuying, upgrading your phone too often, and using too much energy at home.
We're fortunate to live in a time when almost anything we want can be delivered to our doors within a couple of days. The convenience of online selling and delivery apps has given us many wonderful opportunities to live and build the lives we want, but they also give us more reasons to shop and spend.
Not to mention the barrage of advertisements on social apps, streaming services, influencer videos, and targeted emails constantly reminding us of that nifty new gadget, skincare product, or clothing item. Plus, payment options like 'Buy Now, Pay Later' (BNPL) have entered the arena, allowing even more people to purchase items they would otherwise have had to wait for or passed on altogether.
To better identify the effect of overconsumption on society, it's essential to recognize its dangers.
From an Individual perspective, overconsumption can negatively affect our finances due to increased spending on things that we either never use or use once and then discard. Not to mention, if you're one to stockpile, a buildup of items can lead to a cluttered living space, inhibiting our ability to feel at peace or relaxed in our homes.
The dangers of overconsumption affect not only you but also your environment. Overbuying can lead to greater waste and an increase in items sent to landfills. More trash can lead to more pollution, which affects our environment.
What's the best method of avoiding overconsumption? First, be honest with yourself and recognize if you're doing it. Then, pay attention to the signs in and around your home and your spending transactions to check your consumption habits.
It's also good to start being more mindful about why you're buying something in the first place.
You can also try an underconsumption challenge. You may have seen people online touting their own underconsumption journeys also known as “underconsumption core”. These are lifestyle changes where they focus on not buying more things than they’ll use or need. Some examples you may see range from people using all existing skincare products before buying anything new, learning how to mend their own clothes instead of tossing used and buying new ones, or trying to make dinner from whatever is available in the fridge rather than running to the store for more ingredients or ordering out. For instance, you could try a 'no-buy month' where you commit to not purchasing any non-essential items for a month. Or, you could challenge yourself to use up all the food in your pantry before buying more groceries. Some of these ideas work as lifestyle habits; others might be fun to try as challenges. Reflect on your situation and determine whether you would benefit from some underconsumption habits to live a more sustainable life.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In today's media, it is impossible not to see an ad for the latest gambling service. If you don't already know, gambling is risking money or something of value on an event with an unknown outcome and can be done both online and in-person, on anything from slot machines to a sports game. While it may seem fun to win some money on something, gambling comes with a bunch of risks, and it's not just losing money.
Links:
- If you or someone you know might struggle with gambling visit https://www.nhproblemgambling.org/ for information and resources
- Explore psychology resources and therapy services on Psychology Today's website
- Explore Gamblers Anonymous website for resources and services
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you decide to gamble, it is very important to gamble safely. Before you try your luck, consider setting some guidelines to stick to. Limit how much you want to gamble, and don't exceed that limit. If you have the unfortunate experience of losing all the money you set aside to gamble, walk away. Don't put any more money down to chase a win. If you decide to gamble, keep it in a social setting with supportive friends who can help you stick to your plan. Also, try to avoid excessive alcohol and drug use while gambling, as that might influence you to make rash decisions and gamble more.
While most people who have placed a bet have done so without problems, some have gone on to develop a gambling addiction. The Diagnostic and Statistical Manual of Mental Disorders, 5th edition, which is a diagnostic tool published by the American Psychiatric Association, classifies gambling problems as an addictive disorder. Similarly to drugs and alcohol, a gambling addiction involves an increased tolerance that results in the feeling of gambling even more to feel satisfied. People with a gambling addiction who try to quit will go through similar withdrawal symptoms, such as an urge to gamble and irritability.
With unchecked gambling issues, it can quickly turn from a fun way to win or lose money to costing you a fortune, going into debt, mental health issues, and even bringing harm to your friends and family. The first part is obvious: the more you gamble, the more likely you will lose more and more money. Watching your finances go down the drain will impact your mental health. Often when this happens, a gambling addict will keep going back in an attempt to win their money back. This spiraling behavior can strain your loved ones, especially your family or people who might rely on you.
An estimated 0.4% to 2% of the world's population has a gambling addiction. You are more likely to develop a gambling addiction if you have any other addictions or have a psychiatric condition. For example, an estimated 4% of people treated for substance abuse also have a gambling addiction. A lower income is also linked to having a gambling addiction, as people are looking for a big win to give them a step up.
If you believe you may have a gambling problem or addiction, there are options to help you. Going to therapy is a significant first step. Many therapists are knowledgeable about gambling addictions and trained to help you overcome them. You can visit psychologytoday.com to find the right therapist for you. There are also support groups like Gamblers Anonymous, where you can talk to other people with gambling problems and share experiences.
Gambling can be fun, but it's risky. Please play responsibly.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Understanding financial aid and student loans is crucial for anyone planning to fund higher education, whether you're a student, parent or even an educator, having someone available to help you navigate the complexities of funding higher education is essential.
In this episode, we're chatting with Shawn Kithcart-Bulk, Education Funding Specialist at Granite Edvance, about the different types of financial aid available, how to apply for them, and what you need to know about managing your student loans.
Links:
- Learn more about Granite Edvance's resources and opportunities
- Contact Granite Edvance to get in touch with a counselor or other staff
- Explore Upcoming Events for college planning and funding webinars
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Your credit score is an important factor in your financial journey as it represents your potential risk of repaying your loans to lenders and creditors. Your credit score may also impact loan interest rates and term lengths which is why it’s crucial to be aware of your credit score and any changes that may occur.
Links:
- Learn more about the benefits of a Better Checking account
- Access your better checking benefits through the Better Checking website
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
There are five factors to how your credit is scored – payment history, balances owed, age of credit, credit mix, and recent activity. Payment history and balances owed have the largest impact on your score.
Credit score ranges may vary based on the credit bureau’s scoring model, however they are similar to:
- 300-579: Poor
- 580-669: Fair
- 670-739: Good
- 740-799: Very good
- 800-850: Excellent
The higher your credit score, the better rate you will get and the lower your payment will be. Your credit score can also influence your approval rate for many other things besides loans. It can determine if you get approved for a credit card and how much you get approved for. Property owners look at credit scores to decide who they want to rent to. Insurance premiums can also go up if your credit score is low.
Valuable Insights into Your Credit with Better Checking
Now that you know how your credit score works and why it matters, let’s focus on some benefits you get with your Triangle Credit Union Better Checking account.
- Credit Score Tracking
Receive valuable insights into your credit score and see your score plotted monthly in a chart so you can easily see your changes over time. Your credit score is analyzed with different factors by TransUnion—total of all account revolving balances, real estate information, oldest account, loan balances, recent account delinquencies, and derogatory payment status.
You can also receive monthly notifications right to your email to easily track your score.
- Credit Report
Your personal credit report contains details about your financial behavior and identification information. Each credit reporting agency collects and organizes data about your credit history from your creditors and public records.
Reviewing your credit report allows you to check for mistakes or fraud and it’s a good way for you to understand what lenders see when they check your credit history.
- Credit File Monitoring
Credit File Monitoring consistently reviews your credit history in order to detect any key changes and verify the accuracy of what is reported.
With IDProtect, you have access to credit file monitoring – your credit report will be checked daily and you will be notified by email when key changes or important activity related to your credit report are detected, such as: credit inquiries, public records, delinquencies, negative information, employment changes, new accounts opened.
Alerts may also be sent directly to your mobile phone via text and can be set up on our dedicated Better Checking website.
In addition to credit score tracking and identity theft protection, your Triangle Credit Union Better Checking account also offers enhanced cell phone protection for up to four phones on your account—up to $400 per claim! Visit our checking account page to learn more and open an account today!
What do you think has more impact on your financial decisions, your income or your mindset? Would you believe that how you view and think about money matters more than how much money you make? If you’re striving for financial success and want some insight into how your thinking impacts your probability of building wealth, then I have a book for you!
Links:
- The Psychology of Money by Morgan Housel
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial education can come from so many places. Lessons can be learned through experience, observing the actions of others, formal education or exploring resources across the internet. For those who like to learn through reading, one financial book you should read is called The Psychology of Money by Morgan Housel.
I really enjoyed this book. I found it really easy to understand and relatable.
This book was written to explain away the notion that only highly intelligent people of great means can be successful and to make specific points on how mindset and behavior impact our ability to build and maintain wealth.
Originally written in 2018 as a short report, the content was later expanded on and published as a book. It’s not a long read as Housel’s choice was to make book of smaller, shorter points that someone would finish reading than one long one they wouldn’t.
The book starts off with lessons from the lives of two men. One who was incredibly wealthy, loved to show it but eventually lost it, and another of a man who didn’t appear wealthy but stunned everyone when he left multimillions in inheritance and endowments upon his death. One went broke, the other left a financial legacy. The question these two very different stories raise is “What made the difference in these two people’s lives that led to such contrasting outcomes?”
Housel attempts to answer this question in his book when he states, “doing well with money has a little to do with how smart you are and a lot to do with how you behave.”
The goal for readers is that they’ll apply the principles outlined in the book, to cultivate a healthier relationship with money, make more informed decisions, and ultimately achieve greater financial stability and peace of mind.
Throughout the book, Housel lists up to 20 points on how our psychology around money affects our behavior, but because I don’t have time to go over them all, here are some of the notable points that stood out to me most:
- In the book, he mentions how important it is to remember how the decisions people make with their money are tied to their individual experiences with the way the world works. Because those experiences vary widely, such as a child growing up in poverty versus another raised in luxury, the financial behaviors of one would seem completely foreign to the other. Housel states, “what looks crazy to you might make sense to me. But no one is crazy – we all make decisions based on our own unique experiences that seem to make sense to us in a given moment.” I felt that this point is serves as a good reminder that there should be no expectation that everyone will have the exact same behavior around money, as they’re not all influenced by the same experiences. We should be understanding enough to know that poor financial habits or decisions are not due to lack of intelligence, they are more simply due to someone acting on the way they’ve grown to understand the world.
- He addresses what can happen when what you have is never enough. The subtitle to this point is when rich people do crazy things. The whole purpose of this point is to emphasize how important it is to know when you have enough, as greed can drive people to do crazy things, and, as he further illustrates, drive rich people to do crazier things. Housel shares stories of a few wealthy individuals, like Bernie Madoff, whose push to accumulate more wealth led to compromising decisions and ultimately jail sentences. I felt this point was a good reminder of how easy, and dangerous, it can be to fall into this mindset. It’s important to recognize the impact and challenges having wealth can have on us like the added pressure from social comparisons, the moving of financial goalposts, and the temptation to take unethical risks in an effort to gain more money.
- Another point that stood out to me is his assertion that controlling your time is the highest dividend money pays, in other words, seek freedom. For many people, the desire to be wealthy is rooted in the desire to be happy. The book lists some scientific research showing that there’s a strong correlation between someone’s happiness and their ability to control their own life. He states, “more than your salary. More than the size of your house. More than the prestige of your job. Control over doing what you want, when you want, with the people that you want to, is the broadest variable that makes people happy.” The idea from this point is how important it is to make intentional decisions with your money; decisions that bring you closer to being able to enjoy this freedom. This type of freedom could be anything like having peace during an unexpected job loss, the ability to choose a new job with lower pay but with more flexible hours, or the ability to retire when you want and not when you have to. He shares, “You realize that aligning money towards a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want, has incredible return.” I’ve chosen to apply this point as a personal ethos in my own life because I believe that investing in financial freedom enables a lifestyle that can sustain new opportunities and the true enjoyment of vocations.
As mentioned previously, there are so many more points in the book about building wealth like the importance of compounding yet how it can be confusing to implement, that others are not as impressed with our possessions as we might be and that real wealth is not always obvious and recognizable. If you’re interested in checking them out, get the book. It’s worth the read.
To sum it all up, I’ll use a final quote from the book, "Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know." This perspective underscores the book's relevance, highlighting that our actions with money are often driven by emotions, biases, and personal experiences rather than purely rational calculations. By recognizing and addressing these psychological factors, you can better navigate your financial journey and achieve greater financial well-being.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Buying a car is a big deal. Unless you live in a walkable area, your car is likely the primary method of transportation used to get around. If so, you’ll want something reliable as well as affordable. Many factors affect the price of vehicles from inflation, chip shortages, supply chain interruptions, and even the possibility of looming tariffs.
At the time of this recording the average new car price is around $48,000 and with a price tag like that, it may be wise to make sure the next car you choose is reliable. But with so many cars to choose from, how do you know which is the best for you? Keep listening to learn what cars should be your next ride.
Links:
- Check out the Consumer Report for the Most Reliable Cars for 2025
- Shop for a new car with Triangle's AutoSmart tool
- Learn more about Mechanical Repair Coverage
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
A good place to start when looking for a reliable vehicle is Consumer Reports. Consumer Reports is a nonprofit organization that unbiasedly tests products with consumers in mind, to educate and inform potential buyers. For this particular report, they asked their members about the variety of car problems they encountered in the past 12 months. As a result, Consumer Reports gathered information on over 300,000 vehicles with model years ranging from 2000 to 2025.
They then looked at problem areas, from minor inconveniences such as squeaky brakes and broken interior trim to major problems like engine or transmission issues. Consumer Reports then used the results to score the reliability of vehicles in all the different areas, with the major problems being weighted more.
According to Consumer Reports’ findings, the top 3 most reliable new car brands for 2025 are Subaru, Lexus, and Toyota. On the other side, the bottom 3 unreliable new car brands turned out to be GMC, Cadillac, and Rivian. For those looking to buy a used car, the top 3 most reliable brands are Lexus, Toyota, and Mazda. The bottom 3 unreliable brands are Dodge, Jeep, and Chrysler.
If you were considering getting an electric vehicle, Consumer Reports found that hybrids are the way to go. Results showed they are incredibly fuel efficient and just as reliable as gas powered cars. It was revealed that pure electric vehicles, on the other hand, have 42% more problems than gas-powered and hybrids and plug-in hybrids have 70% more problems than gas-powered and conventional hybrids. For those thinking of purchasing an electric vehicle it’s important to consider how much driving you plan on doing. They don’t have as far a range as gas-powered and hybrid vehicles, so make sure the infrastructure around you and wherever you plan to travel supports electric vehicles. Remember to check beforehand to see if there are any charging stations near you.
To explore more information and data on this particular report, visit consumerreports.org or check the link in the show notes.
Another great way to determine a car’s reliability is to ask a trusted mechanic. They work constantly on cars and know which ones come in the most and what common issues are. Before buying a car, you can take it to a mechanic for an inspection. Similarly, ask friends and family what kind of car they drive, if they like it, and how dependable it is.
Okay, so what if you’re considering a car that maybe wasn’t on the Consumer Report’s top reliable vehicle list. Maybe you’ve been eyeing that Jeep, Cadillac or Rivian for quite some time now? That’s completely fine! Just do your research beforehand, talk to friends and mechanics to make sure you’re fully aware of any long-term costs and maintenance associated with your vehicle. Another great way to make sure your car doesn’t end up costing you more than you initially planned, is to consider getting Mechanical Repair Coverage, or MRC for short. MRC can help limit unexpected, covered repairs as your vehicle ages, potentially saving you thousands of dollars. Learn more about MRC and how to get it today at Triangle Credit Union. Visit trianglecu.org to check it out!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
You want to find that perfect home, but how do you know where to start? The home-buying process can be tricky and confusing. That's why it's essential to understand the right things to consider before you begin the mortgage process.
Links:
- Find out how much you may qualify to borrow. Get a mortgage pre-approval now!
- Check out current mortgage rates and other special offers
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Buying a home is one of the most significant financial decisions ever. It's natural to have concerns and questions about the process, from finding the right house to securing a mortgage. Suppose you're ready for this journey but need help understanding where to start. Here are five things that you should consider before buying a house.
- Affordability and Budget
The first thing you'll want to know, and perhaps the most important, is how much house you can afford. Housing prices have climbed significantly in certain areas, and mortgage rates aren't as low as a few years ago.
The good news is that rates and prices fluctuate, so they can go down just as they went up.
Get a good idea of a monthly payment you can reasonably afford. One rule of thumb is that your yearly mortgage costs should be around 25% of your annual take-home pay. An affordable monthly payment provides a reasonable margin, so you're not spending too much on housing month over month. Calculate your annual household income, take 25% of that, and divide it by 12. You can then use that rough monthly payment calculation to determine the home price that best fits your budget.
Monthly payments are significant, but they're not the only cost you should know. Before shopping, consider other hidden costs, such as closing fees, property taxes, inspection fees, and the consistent, ongoing maintenance a house requires when calculating affordability. For instance, closing fees can include appraisal fees, title insurance, and attorney fees. Property taxes can vary depending on the property's location and value. Ongoing maintenance can consist of lawn care, repairs, and utilities.
- Location and Neighborhood
The next thing you'll want to consider is the location of your home. What kind of neighborhood do you want to live in? What types of conveniences and local attractions would you like to be around? Are you one for solitary, remote locations, or do you like populated urban surroundings?
Explore the local spots and attractions to get an idea of the overall feel of the environment. Also, keep an eye out for planned developments in the area, as those can also affect property values.
Take into consideration any town amenities and services. Some towns provide trash pickup while others don't, which will become an additional expense to budget for. When researching potential buying locations, consider the cost of any further service you may need to pay out of pocket or find a location where those services are available through tax funding and other programs.
- Property Condition and Inspection
Another important factor to consider is the condition of the property. That home may have a low, attractive price, but it might need a new roof, a new furnace, or have some flooring issues.
First, take some time to ensure the house is structurally solid for safety. Have an inspector check on any plumbing issues, electrical issues, roof condition, etc., because issues involving maintenance and repairs all come with dollar signs. One positive thing to remember when inspecting the property is that sometimes, needed repairs provide an opportunity to negotiate pricing with the seller.
If there are things that need improving, consider whether you're equipped to fix them yourself or willing to pay a professional. For some, buying a home that needs work is precisely what they're looking for.
Think about whether you're ready to put in some work and make some renovations or opt for a house that's more move-in ready. A clear idea of your intentions will help guide you toward the property you're most comfortable managing.
- Understanding the Mortgage Approval Process
Review your credit history, as it's a significant factor in determining how much you'll be able to borrow. Lenders use your credit report to determine your creditworthiness and as a benchmark of financial habits. If you recognize your credit isn't as healthy as it should be, think about improving it before applying for a mortgage.
Ensure you make all payments on time, do not max out credit cards, and maintain a healthy debt-to-credit ratio.
Once your credit is in good shape, take some time to get a mortgage pre-approval. Getting pre-approved is a great way to determine how much you can borrow and will provide a reasonable price range for your house hunt.
- Loan Types
A final thing to consider when buying a home is the mortgage type. There are a variety of mortgage loan types with different terms and rates. Some mortgage options have fixed rates, where the rate doesn't change throughout the life of the loan, while other types are adjustable-rate mortgages, where the rate adjusts periodically throughout the life of the loan. Finding the right loan type depends on how much you can afford for a monthly payment, the size of your downpayment, and how long you plan to be in the home.
If you're unsure what type of mortgage product will work best for your situation, talk to a Triangle Mortgage Loan Officer. They'll review all the aforementioned factors, ask you about your financial situation and goals, and listen to your overall expectations of being a homeowner. As mortgage professionals, they're also very aware of the housing environment and market and can guide you toward other little-known benefits and programs for which you might qualify. Visit trianglecu.org to learn more about Triangle's mortgage products and contact one of our Mortgage Loan Officers.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s important to make good financial decisions, especially as a young adult. If you set yourself up for success while you are younger, you’ll thank yourself later in the future. If you’re a young adult, here are some tips to get you started.
Links:
- Explore a variety of financial resources at mycreditunion.gov
- Learn more about Triangle's financial planning services
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about financial planning with Triangle's financial planning services
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first tip we have is to avoid debt as much as you can. This tip might seem obvious, but it is still important. When purchasing something, try to use only your debit card or cash. There are pros and cons to using your credit card. Using a credit card will help you build up credit and many cards offer rewards for using them. However, if you do use your credit card, make sure to pay it off when it’s due. Otherwise, you could go deeper into debt, especially if your credit card has a high interest rate.
If you are in college, or thinking about going to college, you need to be strategic about how you pay for it. Scholarships are a great way to lessen the cost of a college education. Countless organizations, corporations and other entities provide a variety of scholarship options that can be awarded based on merit, need-based, hobbies, religion, ethnicity, and more. To be awarded a scholarship, look online and start applying to ones that you might qualify for and are likely to win. Another way you can save money on college tuition is through work-study programs. This allows students to have a part-time job related to their field of study, with the money going to pay off their tuition.
To make sure you set yourself up for success, you should create a budget. Budgeting involves you looking at your income and deciding where you want your money to go. For example, you will allocate a certain amount to food, housing, debt, savings, entertainment, and whatever else you spend money on. It may seem daunting at first, but when you know the exact amount you have to spend on something, it will make your life a lot easier in the long run.
Similarly, you should consider creating an emergency fund. This fund is money that you set aside in case of an emergency, like the loss of employment, housing displacement, or medical issues. It is typically a good idea to put away enough money to live off of for 6 months.
As a young adult, you should start saving up for retirement now. Consider setting up a Roth 401(k) or a Roth IRA, which allows you to save for your retirement, with no tax on the growth*. You can also see if the company you work for offers any retirement plans. Some companies will match part of how much you put in, which is free money for you.
Investing harnesses the power of compound interest, so the earlier you start saving, the greater your wealth will be when you are ready to retire. Keep in mind that as the amount grows over time you might be tempted to use some of that money. However, it should be noted that there are penalties for early withdrawals so thoroughly research the rules and tax implications regarding the withdrawal of any investment account funds.
Another great way to make good financial decisions is to educate yourself. Read books, listen to podcasts, and watch videos on how to handle your money. Google some of the top-rated financial books for young adults and check out other resources like the articles and tools at mycreditunion.gov. You can also check out triangle’s financial literacy content at triangleuniversity.org for webinars, videos and articles that cover a variety of topics. Being educated in finance is a good way to better understand your own personal finances. That way, you can make the best financial decisions for you.
Finally, consider getting a financial planner. Financial professionals can take a deep dive into your finances and using their knowledge can set you up with a plan. If you are looking for a financial planner, Triangle Credit Union has the resources to help you find one. Check out the financial planning page at trianglecu.org for more information.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
*PLEASE NOTE - investment references are for educational purposes only.
Saving doesn’t have to be boring. If you’re looking for an enjoyable way to save money, try a savings challenge. Whether you’re planning to build an emergency fund, save for a dream vacation, or develop better money habits, savings challenges can transform your saving journey and set you on a rewarding path to achieve your financial goals.
Links:
- Download the Roll-the-Dice Savings Challenge tracker
- Download the 100 Envelope Savings Challenge tracker
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Saving money can be overwhelming. You may not know where to begin, how much to save or even HOW to save money. Saving money doesn’t need to be stressful and it can actually be fun if you participate in a savings challenge.
Here are 4 savings challenges you can try this year to grow your savings account and improve your financial future.
Roll-the-dice Challenge
Gamifying savings is a great way to turn something that might be stressful or scary into something entertaining and enjoyable!
This challenge is flexible and can be done daily, weekly, or monthly depending on your goals and financial situation.
Simply roll a die and set aside the cash OR transfer that amount to your savings account.
For example, if you roll a 1, save $1; if you roll a 6, save $6, etc.
Looking to save a little more each time? Roll a pair of dice (or one die twice) and save that amount.
Make sure you record your rolls and track your progress on our Roll-The-Dice savings tracker. You can find the link in the show notes and at triangleuniversity.org.
Pause Your Subscriptions Challenge
Streaming services, food delivery services, and product boxes are monthly subscriptions that most American consumers pay for; some people have multiple subscriptions for the same service– for example, some consumers subscribe to both DoorDash’s DashPass and Uber Eats’ Uber One.
Too often, one signs up for a free trial with the intent to cancel before the free trial ends, only to forget and be charged for the service. If you’re not keeping an eye on your finances and tracking all your expenses diligently, it’s possible you’re paying for subscriptions and not even aware of it.
Take some time to go through all your bank accounts and credit card statements for the past few months and highlight any recurring charges.
Then, analyze the charges and decide which subscriptions could be paused or canceled for a while. Maybe you subscribed to a streaming service to watch one show a few months ago but haven’t watched anything on that platform since. Or maybe you’ve decided to stop getting food delivered anyway so you no longer need those subscriptions.
Pause or cancel any subscription you’re not currently using and instead put that money in your savings account or investments. You may even find that after a few months, you don’t miss those subscriptions anyway!
Round-Up Challenge
When it comes to savings, no amount is too small. Every penny you can put towards your savings goals adds up! That’s why a round-up challenge is perfect for people who are not ready to make large, one-time, contributions to their savings accounts.
Every time you spend, calculate the number of cents it would take to round up to the next dollar, then transfer that much into your savings account. If you’re using cash, put the change in a jar at the end of every day.
Rounding up your purchases and setting aside the difference may seem insignificant at the time, however the amounts will quickly add up and you will see how each drop in your savings account helps it grow.
The 100 Envelope Challenge
If you’ve participated in our other savings challenges, you may be familiar with the 100 Envelope Challenge but since we’ve seen success with this savings challenge, we decided to include it again.
The challenge is simple: Choose a numbered envelope at random and set aside that amount to save. Once all 100 envelopes have been filled, you’ll have $5,050 to either spend or put towards a bigger savings goal you have.
This savings challenge works best when done with cash so it’s perfect for cash budgeters!
Here’s how it works:
Head to your nearest Dollar Store and buy a pack of envelopes (enough to label them 1-100 individually)
Take the envelopes out of the box and label each envelope with a number (start at 1 until you have labeled all 100 envelopes)
Give the envelopes a shuffle and put them back in the box
When you want to begin this challenge, take an envelope randomly from the box and fill with the appropriate amount (For example: If you pull the envelope labeled “42”, you will fill with $42)
Put the completed envelope in the back of the box behind the empty envelopes or bring that money to the bank and deposit that money into your savings account.
To keep track of all your completed envelopes download and use our 100 Envelope Savings Tracker through the link in the show notes or at triangleuniversity.org.
Now’s the time to start savings and try the savings challenge that intrigues you the most!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
We love an amazing alliteration, so it makes sense that we would focus on five financial moves for February. In this episode as we talk about why February is the best month to review your finances and how your plans will impact the rest of your year for financial success.
Links:
- View our existing videos on budgeting and paying down debt
- Download the Legacy File Checklist for your legacy drawer
- Check your credit score and report with the TCU Better Checking App (for Better Checking account holders)
- Google Play Store
- Apple App Store
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Artificial Intelligence, commonly known as AI, has permeated our way of life. It feels like every tech corporation is pushing their latest AI tool or feature to help make your life better. Unfortunately, with AI going mostly unchecked, it can easily become a detrimental tool for the wrong people. Deepfakes in particular can be manipulative and dangerous. Here’s what you need to know about deepfakes and how to combat them.
Links:
- Report deepfakes with the Internet Crime Complaint Center
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you don’t already know, deepfakes are videos, images, or audio of someone or something that has been altered by AI. These deepfakes can be used to portray a person doing something that they haven’t done and or wouldn’t have done. This can easily be a conduit to spread disinformation.
For example, deepfakes can be made of politicians to make it seem like they said something or did something, when in reality it was created by AI. The deepfake can make the politician say something that might be controversial or visually put the politician in a compromising position. This can be devasting to their campaign, especially if people believe it is real.
Similarly, celebrities have been mimicked by deep fakes. Some of it is innocent, such as de-aging an actor for a movie. However, celebrity deepfakes have been used to endorse products or politicians without the celebrity’s consent.
You don’t have to be famous to be a victim of deepfakes. If scammers can get a recording of your voice, they can make you say whatever they want with AI. They can then call people that you know and talk to them with your voice. Scammers use this technique to then scam your loved ones into thinking you’re in some kind of trouble and need money. Similarly to politicians and celebrities, your likeness can be recreated with deepfakes. If someone has images or videos of your face, they can make a deepfake of you doing whatever they want.
Fortunately, there are ways to decrease the likelihood of having a deepfake made of you, or at the very least make it more difficult for scammers to create one of you. Be careful with what you share online and who you share it with. Scammers need images, videos, or audio of you to create a deepfake. The more media they have of you, the easier it is to make a realistic deepfake. Only share your photos and videos with people you trust. If you use social media, limit who can see your posts. You can also watermark your media which makes it harder to make a deepfake and also makes it easier to trace who created it.
If you find deepfake content of yourself or someone you know, report it on the platform it’s hosted on. You should also report it to the Internet Crime Complaint Center. If you are the victim of a deepfake, you may want to consult legal counsel and find out what your next steps are.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Valentine’s Day is when people show extra love and affection for a special person, but showing your love should not break the bank. With a little planning ahead and some creativity, you can easily find ways to enjoy this special holiday without blowing the budget.
Links:
- Explore Triangle's Purchase Rewards programs to earn cash back on purchases at over 200 vendors
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Celebrating holidays is exciting. There’s a lot of anticipation to show that special person in your life you care. But, holidays can bring expectations to spend, often for festive food, fun experiences, and special gifts. Valentine’s Day is no exception, and like many other holidays, it’s important to consider beforehand just how much we’re willing to spend.
If you plan to celebrate Valentine’s Day this year, here are four ideas to save money while still having a fun and romantic holiday.
- Celebrate at Home
Avoid the long waits and high cost of a night out and spend the night celebrating at home.
If one of you knows your way around the kitchen, cooking dinner together is a great way to spend quality time together.
If you want a night off from cooking, getting food delivered or picking up food at a local restaurant and bringing it home is another option. However, make sure to order the food ahead of time, as wait times are sure to be longer than usual.
There are also fun but inexpensive activities that you can do at home with your loved one. You can play board games or card games, put together a puzzle, rent a movie you’ve been dying to see, or even follow a YouTube tutorial for your own paint night. Check out your local dollar stores and discount stores if you need supplies for these activities.
- Make Your Gifts
Showing your love and appreciation for your special someone on Valentine’s Day does not need to involve flashy, expensive gifts that drain your bank account. Instead, tap into your creativity and make your gifts.
Want to give your significant other a bouquet of flowers? Instead of spending hundreds of dollars at a florist, look up tutorials on putting together a bouquet and then head to your local grocery store or farmers market to pick up the flowers you need. Not only will this cost a fraction of the price, but it will also mean more that you put in extra effort to make your person feel special.
If flowers aren’t your thing, consider other DIY kits and ideas, such as a candle-making kit, a photo album or decorated photo frame, a custom playlist with songs that remind you of them, etc.
- Utilize Gift Cards
According to a Bankrate survey, 47% of adults had at least one unused gift card, store credit, or voucher in 2023, totaling an average of $187 per person. Don’t let your gift cards go to waste! Valentine’s Day is a great time to use any gift cards you may have lying around from Christmas, birthdays, anniversaries, etc. Even if your gift cards will not cover the full cost of your dinner or activity, it will help reduce the cost and save you some money.
- Take Advantage of Rewards
Like gift cards, many credit card holders do not use their rewards year after year. Leaving accumulated card rewards unused can feel like throwing away free money.
In some instances, it makes sense to build up your points for a more specific, high-value reward such as a hotel room or flight, but if you don’t have any travel plans soon, it might make more sense to redeem your points for something else. Look at your credit card’s rewards center and see what retail stores or restaurants you can redeem your points at.
Credit cards are not the only cards that offer rewards. Your Triangle Credit Union debit card gives you access to Purchase Rewards. With Purchase Rewards, you have access to special offers from over 200 retailers, unlimited cash back deposited each month for the rewards earned the previous month, and easy access to activate and view your rewards through online and mobile banking.
Don’t let Valentine’s Day blow your budget. Consider cutting back on costs this year and taking advantage of these low-cost date ideas.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
While falling snow may look pretty, it can also be pretty dangerous for drivers. Winterizing your vehicle is a good precaution as it can save you money on car repairs and help you stay safe while on the road. If you own a car, here are some tips to get it winter-proof if you haven't already.
Links:
- Visit our Auto page to explore current rates and learn more about GAP and MRC coverage for your vehicle
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Roads often become slippery during the winter months. To counteract this, consider putting winter tires on your vehicle. You can use all-season tires during the winter, but when it gets cold, the rubber in these tires hardens, decreasing the grip on the road. Winter tires use a special compound that can resist the cold and won't harden. Winter tires also have better traction in snowy and icy road conditions, which means that they have better acceleration and are better at stopping than all-season tires.
However, winter tires can be costly. Winter tires can cost over $600, plus you'll have to pay for the tire-swapping fees unless you do it yourself. A cheap alternative is putting chains on your tires to help with traction.
Regardless of what tires your car has, you'll want to check the tire pressure. Tire pressures drop 1 pound per square inch, or PSI for short, every 10 degrees Fahrenheit. You can check the correct tire pressure for your car in the manual or on the car door jamb.
Another way to get your car winter-ready is to have the battery tested. Your car battery is essential for starting your car. Colder temperatures can affect the chemicals in the battery, which may result in a car having trouble starting or not starting at all. Consider buying a portable jump starter for your vehicle in case your car doesn't start due to low temperatures.
Next, you'll want to make sure you have good visibility while driving. Check your windshield wipers to see if they are working properly, and don't leave smudge marks on your windshield. Fill up your windshield wiper fluid too. You can also get a hydrophobic repellant to add to your windshield, making scraping ice and snow off your car windows easier.
Headlights are another thing to consider when winterizing your car. Snow can cause limited visibility when driving, but having a good set of headlights can help you see better, especially during the dark hours of winter. If you've noticed that your headlights aren't as bright as they used to be, you should get a headlight restoration kit or replace them altogether.
You should have a winter emergency kit in your car. If you get stranded with your vehicle, this kit will help you get back on your drive or at least keep you comfortable while waiting for help to arrive. In this kit, you should include a snow shovel, a snow broom, an ice scraper, a portable jump starter, warm clothing, including hats and gloves, blankets, a first-aid kit, a basic tool kit, traction mats, and flashlights.
If you're considering buying a car that's more suitable for winter, look for one that has 4-wheel drive or all-wheel drive instead of front-wheel drive. Vehicles with 4-wheel drive and all-wheel drive provide better traction on icy roads than front-wheel drive vehicles.
If you decide to buy a more winter-proof car, Triangle Credit Union offers auto loans tailored to fit your ride. If you get into an accident, Guaranteed Asset Coverage, or GAP coverage, is designed to reduce or eliminate the difference between the insurance settlement and the loan balance. This protects you from owing more than the vehicle is worth. Mechanical Repair Coverage, or MRC, can help limit unexpected, covered repairs as your vehicle ages, potentially saving you thousands of dollars. If you’re interested in either one of these coverages, contact the credit union or visit your local branch to learn more.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Maintaining digital security is vital, whether you're an individual using your computer or phone or a business using organized networks and complex systems. The sad reality is that threats exist across the vast digital environment that every one of us should be taking steps to avoid.
In this episode, we're chatting with Chris Conway, owner of CEJ technologies, and security expert, about the many dangers cyber threats impose on all digital users and what kinds of systems and safeguards we can incorporate to protect ourselves and our devices.
Links:
- Learn more about CEJ Technologies: 395 Daniel Webster Highway, Merrimack, NH CEJ Technologies
- Contact Chris or his team at: 603-424-3117
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
It’s national data privacy day! What better day to focus your attention on keeping your data secure than now. Take a couple of moments today and throughout the week to evaluate and safeguard your identity so you can effectively protect yourself from current or future threats.
Links:
- Check out resources from the National Cybersecurity Alliance and the Cybersecurity & Infrastructure Security Agency
- Learn more about the features and benefits of a Better Checking Account with IDProtect
- Register or log into our Better Checking portal to access the credit score tracker, credit report and other account benefits
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
One of the most important things you can do for yourself is to take identity and privacy threats seriously. There are new breaches occurring every day that choosing to not take steps for proper security could be costly. It's critical to put guards in place before any threat arises.
If you use digital services, tools and technology, National Privacy Day, and Week, is a great time to assess your existing security protocols and determine whether you’re adequately protected.
With fraud threats everywhere, it’s important to remember to stay on top of current scams to keep your privacy secure. Familiarize yourself with common tactics scammers use to trick you as well as stay abreast of new tactics arising. Check out the National Cybersecurity Alliance at Stay Safe Online for up to date information and resources about proper cyber protection. You can also explore resources and tools from the Cyber Security and Infrastructure Security Agency at CISA.gov.
Other, more active steps to take involve reviewing your current situation and identifying any areas where security could be improved.
Ensure all account passwords are secure, that you have proper PIN or biometric authentication on all devices and that all have been maintained with the most recent updates.
Monitor all your credit and credit card information. Make sure you’re paying attention to all your credit cards and have sufficient access to card controls to easily turn them off if they’re lost or stolen. Set up notifications for immediate awareness any time your cards are used. Receiving a simple message on card usage gives you the ability to act immediately if a suspicious charge occurs.
Keep an eye on your credit score for any inconsistencies or anomalies. Familiarize yourself by checking your score and viewing your current credit report. Your credit report will list out all your open credit lines, loans and other information like credit inquiries, payment history and other personal data regarding your credit activity. Look over the report to ensure all the activity is legitimate and accurate.
Finally, consider identity theft protection. Having identity theft protection offers benefits that help prevent fraud as well as cover you in case fraud occurs. These services monitor data bases and the dark web for sensitive information that way if any issue arises, you can act swiftly to resolve any issues. They also offer expense reimbursement, case managers and recovery assistance to help all throughout the recovery process.
With a Triangle Better Checking account you can get affordable access to amazing identity theft protection benefits for a small monthly fee of $4.99. With this one account you’ll gain access to identity theft monitoring, reimbursement coverage, a credit score tracker, credit reporting, card registration as well as reimbursement coverage and full service identity recovery with a case manager if you ever become a victim. To learn more about the benefits and for further account information, visit trianglecu.org.
If you already have a Better Checking account you’re already enrolled in the protection service but to access the other great benefits register at betterchecking.trianglecu.org to get started there.
If keeping your identity and sensitive information is high on your priority list, take some time today or throughout the week to set up additional protections for your devices and identity.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It's a new year, and for many, that means new year's resolutions. One of the most common resolutions is to get physically fit and healthy by working out. Another common resolution is to save money and take control of your finances. In this tip, get ready to learn how to become financially fit.
Links:
- Financial Wellness Experience assessment
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first thing you should do to become financially fit is assess your overall financial objectives. What is your current lifestyle like, and what would you like it to be? How much money does that cost? Take everything into account, from eating out to vacations. This will help layout a financial road map to follow as you set strategic goals along the way.
Next, while assessing your finances, compare your monthly expenses to your monthly income. Do you have money left over to save? If not, take a look at what you can cut from your expenses. To make it easier, create a budget that you can stick to. That way, you know exactly where your paycheck is going and what you can spend and what you can save. Not having enough money coming in to cover monthly expenses should be an obvious sign that your money needs closer management.
Just like physical fitness, financial fitness takes discipline. Achieving success won’t happen without planning or effort. For example, if your assessment reveals overwhelming debt, becoming financially fitter means it’s probably time to lower that debt. Through planning and discipline, take incremental steps to pay off the debts you’ve been carrying. Establish a payoff plan to either pay off the loans with lowest balances first or those with the highest interest rates first. If you can, pay more than the minimum amount owed monthly. Change your spending habits to stay on track. Don't borrow money if you won't be able to pay it off. Save the money you do have so you can buy the big-ticket items you want. Use loans for purchases that will increase in value, like real estate.
Saving your money is the next step in your financial fitness plan. If your assessment reveals lack of savings, either for short term like emergencies, or long term for retirement, plan to increase savings contributions. Create an emergency fund; that way, if something happens, you aren't scrambling to come up with funds. Seek out interest bearing savings accounts that are easy to access for effortless, automatic contributions. It’s also important to save money for your retirement. The earlier you start saving, the better so make an effort to explore retirement plan options and once it’s set up, regularly contribute to it.
Becoming financially fit might seem daunting at first, but don't worry, there are tons of resources to help you! If this is the year you’re excited to change your financial future, the simplest way to start is to take a financial assessment. Triangle Credit Union offers a fast and free assessment tool that’ll provide a snapshot of your current financial status and provides suggestions and assistance from our financial planning services. It takes less than 8 minutes, so check it out today!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Building a financially free life is a journey that takes time, dedication, and, most importantly, financial education. Understanding your finances is a crucial step towards a secure future.
It's not just about learning the lessons but also about putting them into practice. Taking a proactive approach to financial literacy is one of the most important decisions you can make for your life and future.
Links:
- Financial Books to explore: The Psychology of Money, The Millionaire Next Door, & The Richest Man in Babylon
- Explore the TCU University course catalog for educational webinar videos
- Check out TCU University for financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Education is a powerful tool that empowers us to make significant changes in our lives. As Benjamin Franklin wisely said, "An investment in knowledge pays the best interest." When it comes to financial knowledge, the interest you gain is not just figurative; it's a real sense of control and confidence over your financial future. This empowerment is the key to unlocking your financial potential.
If you're ready to level up your financial game, there's a reliable way to get started. It's all about actively learning about money and finance; the good news is that anyone can do it.
Here are a few ways to get proactive about your financial education this year.
- Read or listen to finance books. Various books have been published over the years that offer excellent financial advice and strategy. Plus, more are published every day. A simple Google search will bring up long lists of top financial books that could change your life. Start with one, but don't stop there. With finance books, the more you read, the better. Different authors provide all kinds of insights and experiences they weave into their financial philosophy, so the more exposure you get to various points of view and perspectives, the more you'll learn from a bigger pool of knowledge and will be more likely to strategize and build a customized plan for your specific financial situation. Some of my personal favorites are The Psychology of Money, The Millionaire Next Door and the Richest Man in Babylon.
- Take online courses or in-person workshops. Books are great for building knowledge, but online courses and live workshops provide carefully developed activities and worksheets to help you practice hands-on action plans. They also offer opportunities to engage with a teacher or professor who can answer questions and guide your situation. Explore Triangle's Financial Literacy course catalog for free webinars you can watch on your own time. We cover topics like getting out of debt, budgeting, preparing for an auto purchase, and buying your first home. We will continue to add new lessons, so check TCU University for regular updates.
- Practice is key to financial learning. As the saying goes, practice makes perfect. But if, at first, you don't succeed, try, try again. You can read all the books and take all the courses, but all that knowledge won't work if you don't implement it. This is where the rubber meets the road. If you've been holding back from getting active with your finances, now's the time to jump in. We learn some of our best lessons through experience. You won't know everything when you start, and that's okay. Taking action is part of the learning process. Try out the lessons you've learned and test the theories you've read about by applying them in your own life. Get that budget together and work it out. You've got this!
Here are a couple of extra tips for those interested in putting their financial education and knowledge into practice.
- First, it means paying attention to your money. Check it often. Give it the attention it needs. Know how much money you have in your accounts, credit balances, debt balances, credit score, and net worth (the total value of your assets minus your liabilities). Know how much money you bring in monthly and how much you spend on groceries.
- Second, do the math and do it often. Get really familiar with a calculator. Use your phone or computer to calculate important balances to stay on track. Calculate how much you'll have in your accounts once you pay a bill, and do the math on how much more you will save if you increase your retirement contributions by 1%. Get familiar with calculating interest rates and payment amounts so you know exactly how much you'll pay over a year. If there's a number you don't know pertaining to your finances, find it out. You'll always be better off knowing more about your money than not knowing enough.
- Third, explore and use financial tools to your advantage. Financial institutions invest a lot of time and money into providing easy and available tools to help you organize, manage, and track your money. Your bank likely already offers tools like budgeting apps, automated bill payments, and credit score trackers to help you set and track goals, automate payments, and provide alerts that keep you in the know. All you have to do is use them. Explore the interfaces and features and get familiar with how they work. You may discover they'll save you time and empower you to advance farther than you initially thought possible.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s a new year and many of us are looking forward to all the new changes they hope to make over the next 12 months. Common resolutions involve taking steps to improve health, upgrade skills, or achieve something new.
Another important resolution to include in your plan is to improve financial health. In this tip I’ll share a few financial resolutions to consider for a financially successful 2025.
Links:
- Explore debt management articles on TCU University and our Pay off Debt webinar on YouTube
- Us our Money Management tool in online banking to set savings and debt payoff goals
- Learn more about our Goal Builder tool and how to use it for setting savings goals. View overview.
- Check out our Budgeting 101 workshop on YouTube or explore upcoming live financial literacy events
- Explore the benefits of a Better Checking account including a credit score tracker and report
- Explore our Financial Planning Services to get started with investing, estate planning, social security help and more
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
As the new year begins, it's the perfect time to reflect on your financial habits and set new goals. Creating financial resolutions can be a powerful way to take control of your finances, reduce stress, and build a more secure future. Whether it's saving more, reducing debt, or investing wisely, setting clear and achievable financial resolutions can help you stay focused and motivated throughout the year. By making thoughtful financial decisions now, you can pave the way for a prosperous and financially stable future.
Here are a few popular financial resolutions to consider for the new year.
Resolution 1: Pay Off Debt: Think about making this the year to finally work to lower or even eliminate debt. If paying off all your debt over the year isn’t that doable, set a number on how much you want to pay off instead like “I want to decrease my debt by $10,000 this year” or “I finally want to pay off a certain credit card debt”. Setting this specific goal makes it easier to stay focused and motivated throughout the year as you can track your progress through to completion. If you’re unsure where to begin, explore some of our debt resources like videos on YouTube, articles on Triangle University or even attend one of our free webinars to establish your debt payoff plan.
Resolution 2: Saving More Money: Many people admit they need to save more, but often fail or seriously miss the mark because they never took action on how to do it in the first place. To get started with this resolution, choose a set dollar amount from every paycheck and deposit it into a savings account as soon as you get your check. Prioritize your saving as the first thing you do whenever you get paid, then work out the rest of your expense items from there. If you have direct deposit, set it up so a portion of your check is automatically deposited into a savings account. This is an easy and effortless way to save because you won’t have to manually transfer the money yourself. Additionally, for anyone saving for a specific goal like a car, emergency savings, vacation, or home downpayment, use Triangle’s Goal Builder tool in online and mobile banking to automatically allocate money from your savings account towards that specific financial goal.
Resolution 3: Creating and Sticking to a Budget: Many of us know we need to budget. Make it a priority to set up a budget and work according to it throughout the year. Using a budget helps with income and expense management by giving you the power to determine exactly where your money goes every time it comes in. If you’re new to budgeting, there are many tools available to help you get started. Check out some books or explore online lessons like our Budgeting 101 workshop available to watch on YouTube or occasionally as a webinar you can attend. These tools will help you understand the process of budgeting and provide hands-on activities to get you started right away.
Resolution 4: Improving Credit Score: If you’re unhappy with your credit score, set a resolution to improve it this year. Because a credit score impacts your ability to borrow and also determines which interest rate you’ll get, having a higher credit score is a noble goal to pursue. If your score is lower than you’d like, take proactive steps and lay out a plan over the year to improve it. Be diligent with all your payments by consistently paying them all on time. For those who struggle with this, set up auto payments if possible, to help automate the process and avoid any missed payments that can affect your score. In addition, use a credit monitoring tool. Some credit cards offer complimentary credit reporting so get familiar with the platform and get used to checking your score. For those with a Triangle Better Checking account, you can access your credit score and report using the Better Checking ID Protect service.
Resolution 5: Investing Wisely: Make this the year you finally start investing. If you’re not on this path yet, investing is an important part of building a healthy financial future. For those a little intimidated by the world of investing, don’t feel like you have to figure it all out on your own. There are many resources and professionals available to help you determine important investing factors like risk tolerance, projected retirement dates, investment sectors and more. If you’re interested in getting started with investing in 2025, check out triangle’s financial planning services for retirement and estate planning services, as well as insurance and social security planning. Visit trianglecu.org to get in touch with one of our financial professionals or to learn more.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day and a happy new year!
This is a hectic time of year, and with all the activities and events occupying our attention, it can be difficult to plan for all the possibilities life might throw at us. When it comes to your vehicle, there are a lot of things to prepare for, especially when winter weather takes an unpredictable turn.
Links:
- Learn more about GAP benefits and check out our Auto Refinance promotional rates!
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Nearly 70% of the United States population lives in regions that experience winter weather. The roads can get icy, snow impacts visibility, and drivers slow down on the highways—all these factors impact travel and increase crash risks.
Even if you've lived in these regions for a while or your whole life, there are steps you should still take to prepare yourself and your car for winter weather.
- Check Lighting
In addition to snow impacting visibility during winter, visibility is limited because the days are shorter. For your safety and the safety of others on the road, check your headlights, taillights, and turn signals to ensure all are working properly. If any bulbs are dull and/or require replacement, this is the perfect time to do that.
- Install Winter Tires
All tires are not created equal! If your vehicle has standard tires, they might not have the tread to handle snow and ice. Snow tires offer better traction during inclement weather than all-season tires. While vehicles with all-wheel drive are better in snowy conditions, snow tires on front-wheel-drive cars can be similar or more effective.
- GAP Coverage
Guaranteed Asset Protection (GAP) is optional auto coverage that pays the difference between your car’s value and the remaining balance on your loan if it is totaled in an accident or stolen.
According to the U.S. Department of Transportation, 24% of weather-related accidents occur on snowy or icy roads. With winter weather making road conditions dangerous, GAP keeps you secure if something were to happen.
How does GAP coverage work?
Let's say you have $15,000 left on your auto loan, but your car is only valued at $10,000. The difference in value means if something happened to your car, such as an accident that totals your vehicle, you would pay $5,000. With GAP coverage, this cost is reduced or eliminated, which means that instead of worrying about having to pay off the rest of the loan before getting a new car, you can focus on finding the right deal and auto loan rate.
These three steps will help you protect yourself and your vehicle this winter. Looking to refinance your current auto loan so you can start the new year with a lower rate? Triangle Credit Union has a limited-time special for auto refinancing. Learn more and apply today!
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
As the year winds to a close and we shift our attention to the new year that’s about to begin, the next few weeks may be the right time to assess our existing financial situations and consider what new plans we’d like to implement for the following year. For many Americans, one of those plans could be to finally get debt-free.
Links:
- For a more visual explanation of the debt snowball method watch this short debt snowball explainer video on YouTube
- Watch our Pay Off Debt: Your Path to Financial Freedom webinar
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Getting out of debt is a noble goal, one worth pushing towards. If you’re feeling the burden of debt, one very effective method can help you pay down that debt and reach financial success. But when it comes to this venture, where does one start? How do you know the plan will be a success? That’s what this debt snowball method is for.
In this tip, I’ll explain the debt snowball, how to use it to eliminate debt, and share a few additional thoughts to keep in mind while following the plan.
One of the biggest challenges many people face when paying down multiple debts is determining which debts take priority. Do you pay off the oldest debt first? The largest debt first? A certain type of debt first? This often paralyzing decision can make it hard to advance toward the goal. Juggling different bills with varying balances can be tricky to organize, so you need a solid and practical plan to focus on and eventually eliminate debt.
That’s where this plan comes in. The debt snowball works by organizing your payoff plan to pay down your lowest debt first, then using that freed-up cash to put towards the next largest balance, and so on.
Start by putting all your debts in order by total balance from smallest to largest. Then focus on making larger payments to the smallest debt while making only the minimum payments on the other ones.
For example: If you have three debt balances, one for $3,000, one for $8,000, and one for $10,000, focus on paying more towards the 3K one and pay just the minimums for the 8k and 10k ones. Keep paying your bills this way until that lowest debt is completely paid off.
With one debt gone and out of the way, take all the money you were paying towards it and now put it towards the $8k one, continuing to pay the minimums on that $10k debt.
Keep doing this until the 8K bill is gone. Then, put all that freed-up cash from both eliminated debts towards that last 10k debt.
The effectiveness of this strategy is that it increasingly builds your cash contributions towards debt every time one balance is paid. So, by the time you’re on that last debt, you’re shoveling money at that balance, and it will decrease at a more rapid pace.
For anyone prepping to give this a go, here are a few things to keep in mind when you work your own debt snowball:
- This plan works best with a budget. Your debt snowball method won’t work if you don’t budget. The budget provides a framework that distributes your income in a specific manner. To pay off debt, you need to know how much money you have coming in and going out. It’ll also help you determine how much to allocate toward each balance as you build your snowball, putting every free dollar toward your debt.
- Get organized and stay organized. Even though you have a budget, keeping all your information organized is essential. Set up dedicated folders in your email for electronic bills or statements, so you know exactly where to go to see them. If you get paper bills, store them in a dedicated folder or envelope so they don’t get lost. Also, create a spreadsheet or use a debt payoff app to keep all your balances logged and up to date. It’ll also allow you to watch each bill as it gets paid down and eventually eliminated.
- Keep your focus with visual reminders. Find a way to keep your goal top of mind. Some people write it on an index card and leave it by a mirror or on a fridge so they’ll see it every day. Keep one in your car or on your phone as a constant reminder that you’re working towards something important.
- Celebrate the small wins. The journey isn’t any fun when you can’t enjoy the process. When you pay off a debt, celebrate the victory. Find a way to treat yourself for your hard work and accomplishments. Just make sure to keep it within budget.
- Be patient. A system like this doesn’t work immediately. It takes time and diligence to get rolling. Keep a steady pace and understand that with some time, patience and perseverance you’ll reach your goal and look back on the long journey that brought you there.
For a deeper explanation of paying down debt and a visual walkthrough of the debt snowball method, check out our Paying Down Debt webinar and our Debt Snowball Method video clip on our YouTube channel.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Local credit unions offer amazing benefits that can help us save money and time every day.
In this episode, we'll be discussing a few of those benefits you might not be aware of, but they could make a world of a difference in your money management strategies, your savings and your financial future.
Links:
- Learn more about our Purchase Rewards program
- Shop for a new car with our AutoSmart tool
- Find shared branching locations and fee-free ATMs with our ATM locator
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
The holidays are coming up very soon, and it's time to get in a festive mood! If you're on a budget but still want to get into the holiday spirit, here are some activities you can do.
Links:
- Watch free movies (with ads) on Tubi & Freevee
- Learn more about VolunteerMatch
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Watching festive movies is a great way to get into the holiday spirit. Set up a movie night with friends and family and watch your favorite holiday classics or find a new favorite! Movies are a great way to celebrate the holidays on a budget, as they are relatively cheap, or even free. Streaming services like Tubi or Freevee have a large selection of holiday movies that you can watch free with ads.
Another great way to celebrate the holidays on a budget is to bake and decorate cookies. Buying all the ingredients you need at a store is relatively cheap. If you hesitate to do this because you’re not good at baking, you can also buy plain cookies and decorate them yourself. Make it an event and invite your loved ones to help decorate the baked goods with you. Similarly, you can buy gingerbread house kits to decorate and display around the house.
You can also explore other fun ways to decorate your home for the season. String up colorful lights or some garland inside and out. You can purchase affordable decorations at a budget store or make some on your own. Find templates and patterns for paper snowflakes, fabric decorations, paper chains and other types of homemade decor. If you don't have the space for a tree in your house, take some time and decorate a tree outside and if there's snow on the ground, make a snowman with a fun outfit to add to the festivities.
If you’re in need of some inspiration take some time to see how other people are decorating for the holidays. Get in your vehicle and go for a drive around neighborhoods at night. Lots of people put up holiday decorations outside for people to look at, and sometimes you can find holiday "tours" online that show which neighborhoods go all out on their decorating. If you're feeling brave, knock on some doors in your local neighborhood to sing a few holiday carols.
You can also get into the holiday spirit by volunteering. Show goodwill to others this season by helping. Visit VolunteerMatch.com for a list of organizations near you that are in need of volunteers. Look for a cause you're passionate about and start helping!
However you celebrate, there are many ways to get into a festive mood, even on a budget. Let us know how you like to celebrate the holidays, and if you have any special traditions that you love to do!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Finding the perfect gift for those on your list can sometimes be puzzling. If you’re racking your brain looking for a gift for someone, and you want that gift to be of good use and value, consider the benefits of a simple financial gift instead.
Links:
- Start them early with one of our youth accounts!
- Check out Triangle's Financial Planning Services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Finding the right gifts for our loved ones can be challenging.
For many, choosing the right gift can be difficult because you want to make sure whatever you select for the person is something they can use and like.
One great gift that most anyone can use is money. If you’re at a loss for a gift idea this year, there are some awesome financial gift ideas for many different ages that can be both useful and appreciated.
For the young ones in your life:
- Don’t overlook the simplicity of giving cash or gift cards. If you want to make it fun for littles, give them a couple of fives or a bunch of ones. Maybe throw in a cute piggy bank or a new wallet for those a little older. Gift cards work great if you would rather give something a little more personal. Select some gift cards to places that provide them opportunities for fun memories that’ll last.
- Fund an account like a savings account or a Flex CD. Starting a savings account helps them build savings habits, and a Flexible CD gives them the benefit of an interest-bearing account that compounds over time.
- Set aside money for college with a 529 plan. Start building an account that they can use toward college and college-related expenses. The earlier they get started, the better.
Financial gifts for adults might be a little more tricky since there’s a chance that most already have established banking relationships and funding. But there are still options for the adults in your life:
- You can gift them money for a celebration or special event. If they’re planning an upcoming event like a vacation, birthday party, or wedding, consider offering cash towards the special event as a holiday gift.
- Consider offering money towards their financial needs – If you know your friend or family member is working to pay down student debt, medical expenses, or saving for a home downpayment, it might be a nice gesture to offer some funds towards those needs.
- Consider giving investment assets as financial gifts. Stocks, bonds, or other investment assets might be good gifts for those who value building wealth. Because of regulations and rules surrounding gifts like these, research beforehand and even talk to a financial professional or accountant. But it can be an excellent idea for those interested in giving something that will grow in value over time and contribute to their net worth.
- You could give the gift of a financial plan. If you know someone starting out in life or trying to organize their finances, you can offer to cover the cost to meet with a financial planning professional as a gift. Sometimes, people intend to connect with a financial planner, but because of schedule conflicts, financial constraints, or other reasons, they haven’t been able to complete the effort. Giving the gift of a financial plan to a loved one might be the first step they needed to build a bright financial future.
In summary, this time of year, considering financial gifts for friends and family could be an excellent way to provide a quality gift that will continue to pay into the future. For any advice or assistance needed in getting started with giving any of the gifts mentioned in this tip, feel free to contact the credit union staff or consult our financial planning professionals at trianglecu.org
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
While this time of year has us rushing around and planning for all the festivities and activities of the season, it’s also an important time to take a step back and recognize the fundamental purpose of the season in the first place – the practice of generosity.
Links:
- Learn more about the mission at givingtuesday.org
- Check out some tips and ideas on how to participate
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We’ve passed through the hectic Black Friday and Cyber Monday shopping to come out on the other side to the official launch of the Christmas season.
With all the attention we give to finding deals, preparing parties, planning travel and signing Christmas cards, it’s helpful to remember that the heart of the season lies deeper than just the parties and the shopping- it's about giving.
For those who may be unaware, today is Giving Tuesday. Officially established back in 2012, it was intended to ignite a movement reminding all of us to take some time to serve others and our communities through volunteerism or financial means.
The website givingtuesday.org states boldly that the overall purpose of the movement is to “Unleash the power of radical generosity around the world.”
I don’t know about you, but that sounds like a movement I can get behind.
Since its creation, the movement has gained international traction. Every year, people and organizations unite across the globe from India, Africa, Europe, and more to recognize the importance of serving others through giving.
So the question some may have is, “what’s the best way to give?”
The good news is that there are no requirements. Participation counts in whatever way you choose to give back.
Try a random act of kindness like complimenting a stranger, carrying someone’s groceries, leaving positive notes for someone to find or pick up litter on a walk.
You can participate through financial generosity like paying for the next person in line, rounding up your purchase to donate to a charity, collecting goods for a soup kitchen or buying presents for children in need.
Volunteerism is another great way to participate like serving others at a shelter or soup kitchen, walking dogs at a shelter, or reading to kids at a local school or daycare.
If you’re interested in participating this year, check out givingtuesday.org for a list of ideas on how to join in the mission. The site also offers a variety of giving tools and other inspiring resources to ramp up the Giving Tuesday energy.
For many of us, the holidays are so busy, and rapidly speed by so when they’re finally over, we sadly realize we missed some beautiful opportunities to share in the glorious practice of generosity touching the many around us who could benefit most this season.
For those familiar with the famous Charles Dicken’s story, A Christmas Carol, here’s a relevant scene from the story about the importance of generosity.
Quick backstory: Scrooge, stunned by Jacob Marley’s ghost wrapped in chains, is baffled that a man so successful in life could be so burdened afterwards. The quote goes:
“But you were always a good man of business, Jacob,' faltered Scrooge, who now began to apply this to himself.
Business!' cried the Ghost, wringing its hands again. "Mankind was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The deals of my trade were but a drop of water in the comprehensive ocean of my business!”
When we reflect on the significance of this season and the true need of the many people around us, this day, Giving Tuesday, serves as reminder that our real business on earth is to give and share with those around us who are in need.
Participating in Giving Tuesday is a great way to practice generosity and share in the joy of helping others.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Black Friday is coming soon and is the perfect time to get your shopping done for the holidays. Many deals are happening in-store and online that it's easy to get caught up in the chaos so beware because there are some common mistakes to avoid while shopping during Black Friday.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Before you even go into a store or visit any website online, you should devise a plan for your shopping spree. One big mistake that many people make is going shopping without a plan. They often will overspend, buy things they don't need, and miss out on some deals. When putting together a plan, start by setting a budget for yourself so you don't overspend. With all of the deals happening on Black Friday, it's common for people to spend more than they meant to. Come up with an amount or at least a range of how much you are comfortable spending.
As part of your plan, it’s also important to make a list of potential items you’d like to buy. Then, before you go shopping, look up deals for items on your list. This gives you the chance to compare deals between different retailers and figure out what works best for you.
A second common mistake people make while Black Friday shopping is thinking they’ll get the best price on anything they buy. Many stores will have a big sale based on a limited amount of one product. Then, once that limited amount is gone, they will slowly mark the price again. Some retailers will even mark up a product's price before the sale begins so that when they put it on "sale" it’s actually marked back to the original price.
A third mistake that people make during Black Friday is prioritizing quantity over quality. Just because the deal looks good doesn't mean the product is good. Buying an item just because it's cheap is not always a smart idea. Do your research on any product before you buy it to ensure you’re getting the proper value for the price you’ll pay.
A fourth mistake some make is thinking that they have to wait until Black Friday arrives to get any deals at all. Many stores offer pre-Black Friday deals that are just as good as deals offered during Black Friday events. Savvy shoppers can also get plenty of great deals after Black Friday by shopping on Cyber Monday.
It’s important to remember that some products might also be best avoided on Black Friday. That's not to say you won't get a good deal on them; it's because there are better times of the year to buy them. For example, exercise equipment, winter clothing, and holiday decorations are actually the cheapest in January. Make sure you know the best time to buy the right deals before making an impulsive decision to buy on Black Friday.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
This is a favorite time of year for so many but this season does not come without financial strain and stress. Today we're going to talk about how to save money this holiday shopping season.
Links:
- Try out our budgeting spreadsheet to finally get organized this season!
- Watch our Budgeting for the Holidays webinar on YouTube
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
While the holiday season ramps up, it’s important to remember that holiday shoppers aren’t the only busy ones this year. Identity thieves and scammers take advantage of this busy season to steal information.
While you’re out there in-person or shopping online, make sure you guard your cards and card information to ensure your transactions are secure.
Links:
- Learn more about secure password managers like LastPass
- Learn more about Google Pay, Apple Pay, PayPal
- Add your Triangle cards to a mobile wallet for secure and convenient payment
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We all do our shopping however we feel most comfortable. Some love going out to a physical store to explore the shelves and find that perfect gift. Others like to comfortably camp out on the couch and browse websites for their holiday hunt.
Whichever way you choose to shop this year, remember to keep security top of mind.
Fraud attempts increase significantly during the shopping season so it’s important to consider whether anything insidious is hiding behind that tempting email, social media ad or website.
Scammers want your payment information. They target credit card transactions both in-person and online in hopes to steal information from as many unsuspecting shoppers as they can.
This holiday, remember to guard your payment information whenever and wherever you pay.
For those who prefer shopping online keep these security tips top of mind before you go through the checkout.
- Make sure the website is secure. Look for the lock icon at the top URL address bar to ensure information being transmitted is encrypted.
- Don't save your card information in browsers. Instead use a secure digital wallet or vault like LastPass.
- Don’t make payments over unsecured WI-FI or mobile networks. Scammers and hackers can monitor public, unsecured Wi-Fi sources to intercept sensitive data that might be transmitted
- Use an online payment company that doesn’t use card numbers like Google Pay, Apple Pay or PayPal.
For those who still shop in-person bad actors can still target your physical card transactions. Remember these tips when using your cards out in public.
- When using self-pay locations like gas stations, stand-alone ATMs and parking terminals, remember to examine the pump or terminal for any signs of tampering, cameras or card skimmers.
- Use the contactless payment method for physical cards instead of inserting the EMV chip or swiping the magnetic strip. Contactless methods are more secure when transmitting data
- Don’t shy away from using your phone’s mobile wallet to store your cards. Mobile wallets keep all your card information secure; they transmit encrypted codes rather than card information during payment and you get the bonus of no longer needing to carry around physical cards.
- If you lose your physical card, immediately lock it from any future use until you can find it or report it as lost to the credit card company
One final way to keep your cards secure is to get into the habit of monitoring all transactions. Set up transaction alerts to get instant notifications any time your card is charged so that way if suspicious activity occurs you can report it right away.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday, and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holidays are coming fast! There will be a lot of scheduling, planning, and prepping for the busy season's festivities, especially holiday travel.
For those of you hitting the road or flying out to celebrate the holidays or even to get away, you can do a few things to save a little money on this season’s holiday travel planning.
Links:
- Learn more about Triangle's Holiday Cash personal loan promotion to get a great rate for holiday spending needs
- Save money with popular travel apps like:
- Expedia
- Priceline
- Skyscanner
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The holidays are known for fun festivities and moments of cheer and delight, but if you remain unprepared for too long it can get stressful fast.
For those who know they'll be traveling to see friends or family, it's time to start planning that travel so you'll have one less thing to worry about during the peak season.
In this episode I’ll share a few strategies to save some money on any upcoming travel expenses.
- Set a budget. Have a clear budget in mind on what you’ll be spending on holiday travel. Set up a separate budget sheet for flights, any car rentals, lodging, food and holiday activities. Use a spreadsheet, budgeting app or even old-fashioned pen and paper to lay out every expenditure. Setting a budget and planning out how much you can spend for the holiday trip will help keep your expenses within affordable means and prevent the post-holiday spending hangover that can occur once the bills start rolling in. For those worried about affording holiday travel expenses this year, check out seasonal holiday loans, like Triangle’s Holiday Cash personal loan. These loans offer a great opportunity to borrow plenty of cash to afford most holiday expenses at an affordable rate.
- Book early. If you're flying, book as early as possible to ensure you get the right deals and competitive pricing. Also, be selective about which days to travel. Some days are less busy than others, which means you could score lower ticket prices. Rearranging your travel schedule to avoid heavy travel days can save you quite a bit of money. If you're looking for an easy way to help price out and compare flights, try using flight comparison and travel apps like Expedia, Priceline and Skyscanner.
- If you have credit card points, now is a good time to cash them in. Regardless of how many you have, look into applying them towards as many travel costs as you can. Any opportunity to save on expenses during the holiday season is great!
- Explore benefit programs and travel bonuses. Many credit card companies offer travel bonuses and perks just for being a cardholder. You may get complimentary access to airport lounges, discounts, and other travel benefits for low or no cost. Take some time to explore your credit card program benefits to see what additional perks might be available for your holiday travel.
- Set aside a little extra money to prepare for the unexpected. It’s the holidays, and you’re traveling. There’s a chance that spontaneous delays and cancellations can occur. If travel issues do arise for whatever reason, make sure you have some emergency money available. A mixture of cash and credit cards are good to have on hand while traveling so you can relax knowing there’s additional money available for any unexpected needs.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
As fraud continues to increase across the country and the globe it’s no surprise that scammers fix their eyes on high-prized targets- people's bank accounts.
Financial institutions make a strong effort to keep your financial accounts safe from threats, but you’re still the last line of defense when it comes to safeguarding your membership.
Links:
- Learn more about Triangle's Better Checking account with identity theft protection
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We’ve seen increased fraud activity over the past year. Scammers are using advanced and convincing techniques to trick unsuspecting members into handing over their personal banking information.
One particular tactic we’ve seen is fraudsters calling or texting members, posing as employees from the TCU Fraud Department, and have replicated our 603-889-2470 phone number. Once the conversation starts, the fraudsters request confidential online banking information and passcodes.
Some who have received these alarming calls and texts inadvertently provide all the requested information.
As a result, the fraudster uses the login information to access the accounts and steal their money.
Unfortunately, these convincing threats have continued to hit unsuspecting victims and there’s no reason to think that threats like this will decrease over time.
As a member, it’s important that you stay aware of these tactics so if you ever receive one of these calls or texts, you’ll know the proper actions to take.
Keep these following key steps top of mind to safeguard your membership and personal information.
- Do not provide your online banking credentials, one-time passcodes, or multi-authentication codes to anyone over the phone or text, regardless of who they claim to be.
- If you receive a suspicious phone call, hang up immediately or ask the caller for a return phone number. After disconnecting the call, contact the credit union through secure email within online banking, or call the number found on the credit union’s website.
- If you receive an alarming text, do not open it and delete it immediately. Triangle does not use text messaging, commonly referred to as SMS, to communicate with members.
- Get identity theft protection. Even the most guarded person can become a victim through channels outside of their own control. Having identity monitoring and id protection benefits can keep you aware of anything suspicious that may happen with your identity and provide resources and assistance to deal with any resolution. Triangle offers Better Checking with Identity theft protection through ID protect that can serve as an additional layer of defense between you and the dangerous effects of ID theft.
- Lastly, become familiar with the specific ways your financial institution will and will NOT communicate with you. Triangle Credit Union in particular will never request online banking passwords from members, ask you to change your username or password, or request that you log into your online banking. Triangle Credit Union will never solicit confidential information via an unexpected call, text, email, social media message, or voicemail, and we will never ask you to enter this information through a generic web link.
We hope that this tip will help remind you to keep your defenses up if you ever encounter one of these suspicious calls or texts so you can keep your money and personal information safe.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Money myths abound. Over time, we hear messages from various sources that influence how we view and use our money. Some messages are accurate financial truths, while others are misguided myths. For anyone looking to boost their financial game, recognizing and avoiding some common money myths is an important place to start.
Links:
- Need investing help? Explore Triangle's Financial Planning Services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Whether it's from an internet article, online video, or social media, there's a lot of financial "advice" out there. But sometimes, even with the best intentions, messaging might still be a little off base.
There are many money myths out there, you've likely heard, that aren't necessarily true.
Here are seven common money myths you might have heard circulating the internet or even in your social circles.
- The belief that money is the root of all evil. Many listening to this may already be aware, but for those who don't, the saying goes, "The LOVE of money" is the root of all evil. Being obsessed with money and pursuing it without any thought for others around you is when money can be a problem. Some use this myth to stigmatize money, saying that it's a negative thing and that we shouldn't work for it, spend it, or save it. But the truth is that money can provide us opportunities and means to take positive actions, like donating to a charity, covering a meal for a friend, buying someone a gift, and enjoying a night out.
- You can't negotiate bills. Many people don't bother to dispute a bill because they feel it won't make a difference. But it can work. I've settled a medical bill for way less than the billed amount – I ended up paying a little over half the price. If you're struggling with some bills, like medical, phone, cable, and others, try calling the companies and asking if they offer any way to settle the bill for less. You may be surprised by what they say because sometimes the company would instead get at least some of the bill now than let it extend into the future.
- If you're not already rich, you can't build generational wealth. With planning, consistency, and dedication, you can take the steps to build wealth to pass on after you're gone. Exploring investing options, saving money regularly, and paying attention to your finances are all positive money habits that ensure you'll have some generational wealth to leave to future generations– even if you never made a fortune.
- The cheapest option is always the best way to go. When purchasing anything, price is one of the biggest factors in our decision especially when we have to choose between multiple items at different price points. For many, the obvious choice might seem to be the cheaper option. But are there instances where that's only sometimes the case? What comes up then is the question of value. The old saying, "You get what you pay for," is spot on here. Sometimes the cheaper option isn't the best value. Cheaper electronics may need replacing sooner, cheaper clothing and shoes might wear faster, and cheaper food might not provide the best nutritional value. Take the time to weigh the prices with the product's value. Some cheaper items are the way to go, while other times, it may be better to pay a little more money for a lasting, higher-quality product.
- You need to have a lot of money to invest. This is a big misconception. Many people feel that they aren't able to invest because they don't have enough to start with. Today, there are plenty of ways people can get started investing with even small amounts of money. I'm talking $50 or $100 into good-quality investment choices. With any investment consideration, it's always a good idea to talk to a financial professional to explore investing options and determine how much money is adequate for your financial situation.
- You don't have to think about retirement until you're older. It's not uncommon to disregard future planning for immediate needs. Many of us think more about what we're doing now as we live daily because that's where we focus our immediate attention. This can lead to the thinking, particularly of retirement, that "I'll start thinking of that as I get older" or "I'm too young to have to start worrying about retirement." That thinking couldn't be farther from the truth. One of the best ways to have a healthy retirement by the time you reach that age is to start saving as soon as possible. The years of contributions and compounding growth will build up over time, so a person putting a small amount away at the age of 23 will likely amass a significant amount more than someone contributing a lot of money at 40. It's never a bad time to start saving for retirement, and the sooner you start saving, the better.
- Your 401K can act as a good emergency fund. Okay, if you have been putting aside money over time in a retirement account like a 401k, you're likely looking at a good-sized dollar amount whenever you check it. But it can happen that when one sees that healthy savings amount, they feel that they don't have to worry about having additional savings, like for emergencies, because they can withdraw money from their 401k... right? There are a few things to consider. First, it's not easy to withdraw money from your retirement account. Depending on the type of account, the use of the money, and how much you're withdrawing, fees and taxes may be associated with taking that money from the account. Second, taking money out of a retirement account lowers your retirement accumulation and overall yearly compounding, resulting in too little in your account by the time you reach retirement age. The best way to avoid this is to keep your retirement accounts off-limits and focus on building up a healthy emergency fund in a separate bank account to cover the unexpected expenses that pop up throughout life's journey.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s that magical time of year again—the decorations are coming out, the music is playing in the malls, and for us in NH, cold crisp winter is in the air. Nestled in all of this is holiday shopping! Today, we’re going to share 5 tips to help you save money and reduce financial stress this season.
Links:
- Learn more about Triangle's Goal Builder tool
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast!
Let’s be real: this is a favorite time of year for so many, but this season does not come without financial strain and stress. We have five top tips to help save you money this shopping season.
Tip #1 – Make a list! Write down everyone you plan to give gifts to, including family, friends, neighbors, coworkers, your mail carrier…you get the picture! Then put a dollar figure next to each name.
Once you complete the list (and associated dollar figures), add it all up to see if it hits the mark in your holiday spending budget. If your budget can handle the gifts and amount, then let the shopping begin; however, if your budget is taking a big hit and can’t cover the expenses of your gift giving list, it’s time to set some price limits to keep your holiday budget on track!
You can write out your list with a pencil and paper or use an Excel spreadsheet, which is what we recommend. Excel will allow you to modify the list easily.
If you are in the predicament of having way too many names and dollars than your budget allows, here are some ways to limit your list:
Simply cut the budget by making some baked goods or a cute home-made craft for everyone other than your immediate family.
If you have a sizable family, suggest a Yankee Swap or drawing names and make sure you set spending limits – this is often an approach many use especially for siblings.
Tip #2 – Use sleuth shopping techniques
When you’re out shopping, don’t buy the item without searching for a better deal. Using your phone, do a quick online search to see if you can find it elsewhere at a lower price.
Online shopping has revolutionized sleuth shopping – with a simple Google search you can find the best prices for almost any product! Use this to your advantage! Once you find the best price—show it to the store representative and ask for a price match. If they want your business, they will make every effort to match the price you found online.
Shoppers are more comfortable with this technique if they have the time, so start shopping early! One of the surest ways to overspend is to wait until the last minute and buy all your gifts in a rush. Not only are you more likely to overspend, but it also makes an already stressful time of the year even more so, which brings us to…
Tip #3 – Start early and save money, time, and aggravation
Set a start date and a wrap-up date (pun intended) – the earlier you finish, the more time you will have to enjoy the holiday festivities without the stress! Another benefit of starting early is establishing a longer period to save money for gift giving, which will reduce the impact on your monthly budget. And speaking of saving money…
Tip #4 – Use Your Goal Builder Tool
Check your financial institution for goal building tools and use them to save money for special occasions, like holiday shopping. For example, Triangle Credit Union’s Goal Builder tool allows you to set a goal, the amount you want to save, your start and end dates, and there’s even an auto save option which allows you to select the frequency of how often you want to put money in your savings account.
For more information on this option, check out trianglecu.org/bank/tcu-go-services or our blog on Triangleuniveristy.org.
Goal builder tools allow you to save money over a period of time which reduces a load of stress. The principle of a Goal Builder tool is very much the same as the old Christmas Clubs where you would put money in an envelope or deposit into an allocated account at your financial institution. With Goal Builder, saving is just easier and more convenient because it’s all within your online or mobile banking platform.
Tip #5 – Buy the Product, Not the Marketing
For some of us, the latest and greatest tech is very important! For the rest of us, the latest and greatest tech isn’t important at all. If the people on your list are more interested in features than fanfare, you can save big on buying last year’s model for tech items, such as phones, TVs, audio equipment, etc.
But buyer beware: You may have to sleuth shop a little more to find the earlier models simply due to retail-mania where retailers want to showcase the latest and greatest, so you overspend! Sadly, we can buy into this and spend hundreds on insignificant upgrades and features that we’ll never use or miss. To look for earlier models on phones, I use eBay (just make sure you purchase from a reliable and credible reseller).
And here’s a bonus tip: Doorbuster deals are not all that! You probably started hearing about “doorbuster” deals already, but these specials rarely pay off! A lot of retailers simply markup items to give you the illusion you are getting a real deal at 50% off. Don’t fall for this—rather look for the everyday deals, save early and shop early, and stick to your plan and your budget!
That wraps up today’s Money Tip. If you have any questions or comments or have suggestions on future topics and tips, please email us at tcupodcast@trianglecu.org.
For more great content, remember to subscribe to the Making Money Personal podcast wherever you listen to podcasts and follow us on Facebook.
Have a great day!
Starting and building a business can be intimidating and challenging, especially for women and minority business owners. As these challenges are illuminated, many organizations step up to help reshape the economic landscape and encourage successful outcomes for future leaders.
In this episode, we're featuring women leaders from two organizations working hard to empower and build a better future for generations to come.
Links:
- Girls Inc. NH website: Girls Inc. | Inspiring All Girls to be Strong, Smart & Bold (girlsincnewhampshire.org)
- Learn more about the Girls Inc Raffle: Strong Smart & Bold Raffle | Inspiring All Girls to be Strong, Smart & Bold (girlsincnewhampshire.org)
- Explore resources and learn more about the REDC: Regional Economic Development Center | Raymond NH (redc.com)
- Explore the REDC and Kiva webinars: Kiva | REDC
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
When it comes to financial institutions, we often select where to bank based on a particular product or service, but there are other reasons why choosing a financial institution is an important decision.
Credit unions offer up an ethical banking option for those looking to do business with companies that value people and their social impact as much as their own growth.
Links:
- Learn more about Conscious Capitalism
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
There’s a growing interest among consumers to support and do business with ethical companies, and there are many companies that want to be ethical and still maintain steady business growth.
Because of this, there’s a movement spreading called conscious capitalism, promoting the idea that businesses within a capitalist system can seek financial growth and profits while at the same time maintaining strong ethics and a powerful focus on its social and environmental impact.
The idea of conscious capitalism came from Whole Foods Co-founder John Mackey and author/marketing professor Raj Sisodia.
They wanted to spread the idea that businesses can pursue growth and profits in a way that also serves the interest of all stakeholders rather than just corporate management groups and shareholders.
The two men co-authored a book and eventually developed the organization Conscious Capitalism, Inc.
Since then, many high-profile companies have joined the movement, such as Starbucks, Whole Foods, Trader Joes, Alphabet and others.
When businesses adopt this philosophy, they choose to recognize the four principles of conscious capitalism listed out by Mackey and Sisodia. These four principles are: Higher Purpose, Stakeholder Orientation, Conscious Leadership, and Conscious Culture.
By incorporating these principles into their internal and external operations, businesses hope to improve customer and employee relationships, build brand loyalty with customers drawn to their mission, and engage more effectively with their communities.
If you’re looking for businesses practicing a similar philosophy that seeks to impact their community and their environment in an ethical manner, look to local credit unions.
Credit unions have woven the concept of providing quality financial products and services with a conscious, ethical mindset.
Through cooperative finance, credit unions shine in many ways as a satisfactory way to access quality banking services and products while also making a positive impact on the community. Here are some of the top reasons to consider a credit union as your trustworthy and ethical financial institution.
Great products: First, people want great financial products that fit their needs. They want capabilities that work well for their lifestyle and financial tools they can use to live their best life. Tools like mobile banking, contactless payment solutions, mobile wallet capabilities, and online applications are all features many people are looking for from a bank. The hunt for low fees and great rates – high deposit and low lending rates- also draws people to a great financial institution. Credit unions have continued to roll out all the digital tools and capabilities that serve all kinds of financial needs. They also historically offer better lending and deposit rates than commercial banks, making the credit union choice great for affordable auto loans and mortgages.
Social responsibility: Second, many people care a lot about how socially responsible their financial institution is. They want to know their institution cares about people more than just making a profit. Credit unions do! They make a strong effort to participate in efforts that financially benefit their communities and focus on the social impact of their decisions. They consider their constituents' economic and environmental factors and strive to offer products and services that help underserved groups in the communities they serve.
Customer service: Who wants to bank with an institution that only sees names as numbers? Being recognized and known as an individual is a key to member satisfaction. Credit unions pride themselves on customer service. Their member focus creates a communal atmosphere where every member is recognized and listened to. Members are the credit union's foundation, and time after time, many have shared how they love that they're treated like family when they walk in.
Local involvement: No one knows the local community better than a credit union. It's made up of people living and working within the community, so it makes a dedicated effort to participate in local activities and events through sponsorships and engagement. Credit unions love to give back and show support to all the citizens striving to improve their local environment. It's essential for many people to know that their bank is committed to the many people living and working within the community, and credit unions do that all year round.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Artificial Intelligence, commonly referred to as AI, is becoming more and more prominent in our everyday lives. Unfortunately, AI scams are becoming more common due to this technological advancement. Here are some AI scams to look out for and how you can avoid them.
Links:
- Additional AI scam education and resources:
- https://www.experian.com/blogs/ask-experian/what-are-ai-scams/
- A Safe Word Can Protect against AI Impostor Scams | Scientific American
- https://reportfraud.ftc.gov/
- https://www.identitytheft.gov/
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
AI scams can take many different forms. The first type we'll talk about is voice cloning. AI can take clips of audio from a person and clone their voice. Fraudsters use this clone voice to say whatever they want. They can then use the cloned voice to impersonate the person the voice belongs to and call people. They might be impersonating a celebrity or politician, asking for money to donate to a charity, but the money goes to the fraudsters.
Fraudsters can get even more personal with AI voice cloning. They can clone the voice of someone you know. It may sound like a friend or relative asking for financial help, but it could also be AI. A good way to protect yourself from scams like this is to create a safe word with friends and family. This safe word is something only you and the other person know. If you get a suspicious-sounding phone call, ask them for the safe word. If they can't answer correctly, you know it's a fraudster.
The next form of AI scams is deepfakes. Deepfakes are images or videos created by AI that can look and sound like anyone. This can be a very dangerous tool, allowing scammers to impersonate anyone they want. Like the voice clones, scammers can be celebrities or politicians asking to donate money or even someone you know and love asking for money.
There are some ways to detect a deepfake. Look at the skin of the person. Does it look very polished and smooth? It may be AI-generated then. Does the skin tone of the face match the rest of the body? If it doesn't, the video or image may have been face-swapped. However, there are prompts that scammers can put in to fix this. Look at the shadows and lighting. Is it consistent? Usually in deepfakes, the focus is on the person, not the background. If the background doesn't look real, it probably isn't.
You can also look at the mouth of the person in the questionable video. Does the audio match up with the lip movements? Do the person's teeth look blurry? These are both ways to see if it is a deepfake or not.
You can also just use common sense to spot a deepfake. Is this something that the person would be saying or doing? If it's someone you know, reach out to them and ask them about it.
If you are the victim of an AI scam, here are some things you should do. First, if you paid a scammer, try to get it back. Contact your financial institution and see if they can stop the transaction from going through. Next, secure all your accounts if you think they might be at risk. Reset all passwords and set up a multi-factor authentication if you haven't already. Report the scam to the Federal Trade Commission, or FTC for short. This will allow the FTC to track scam trends, warn others who might be at risk, and charge scammers with their crimes if caught. If you think the AI scam was after stealing your identity, you can also report it to the FTC.
With the rise of AI, it's more important than ever to be vigilant and always think before sending someone money online. It's also important to educate people who might be less tech-savvy so they don't get scammed.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
If you've been feeling that the cost of groceries seems too expensive and your budget is taking a hit, it may be time to reevaluate your grocery shopping strategy. Fortunately, there are a variety of ways to cut down on the amount of money you’re spending on your weekly grocery bill.
Links:
- USDA Seasonal Produce Guide
- Explore meal-planning apps:
- Yummly
- Mealime
- Meal Prep Pro
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The price of groceries continues to climb for many Americans across the country. If you’re one of those noticing the rise in the cost of groceries, try some of these strategies to save money the next time you head to the supermarket.
- Shop seasonal produce. Depending on where you live, you may find that certain produce is cheaper depending on its season, especially if it's local. In-season produce is more abundant and doesn’t need to be transported from distant locations. Both these factors contribute to lowering the price, which makes it easier for customers to save money when they shop. If you’re unfamiliar with when to shop for your favorite produce, the USDA published a list online to make it easier for people to recognize what seasons are the best times to buy certain produce items. You can check that link out in the show notes.
- Use store apps and rewards programs. To increase brand loyalty, many stores roll out rewards programs for shoppers. They offer store cards or use their own branded apps to track and use rewards points, offer discounts on store brand items, and even provide manufacturers coupons on name brands. If you find yourself going to the same grocery store regularly, check to see what kind of rewards program they offer. Using a store program that provides good discounts can save you a lot of money over time.
- Get organized to stop yourself from overbuying. Have you ever gone to the store and purchased an item you were sure you were out of only to find out you already had it stocked at home? Before shopping take a picture of your fridge or pantry to have a visual reminder of what you already have stocked. You can also create and display inventory sheets that track items in your pantry or freezer as you use them. If you keep it updated regularly, you’ll never wonder again while you’re at the store if you were out of ketchup or soy sauce.
- Don’t underestimate the value of frozen produce. Oftentimes, frozen fruits and veggies are cheaper than their fresh counterparts and because they’re frozen at their peak freshness, they’re likely the more nutritious option. If you find yourself purchasing the same types of veggies or fruits regularly try buying them frozen instead. It could save you money, cut down on spoilage and overall help your health.
- Commit to meal planning. Getting organized about what you’ll make during the week is an effective way to avoid the wastefulness of overbuying. Use a planner or notebook to plan out meals ahead of time. For those more technologically savvy, try an app like Yummly, Mealtime [Mealime], and Meal Prep Pro to help you stay organized with meal planning. Not only can you schedule meals, but they also automatically build shopping lists for you based on your meal selections, so you’ll know exactly what to buy next time you go to the store. They also offer additional features and tools like nutrition guidance and dietary suggestions.
- Consider buying more dry bulk items like beans and lentils. These items are usually very low in cost, and they offer a lot of nutritional value. One part of dried beans can equal three parts cooked. This makes it easy to cook a large meal out of seemingly small ingredients. With the addition of all kinds of seasonings and spices, beans and lentils can make a flavorful dish that can last all week; ultimately a great meal prep item. Explore the internet or one of the apps mentioned earlier for a variety of recipes you can make with these affordable and nutritious ingredients.
For anyone trying to keep their grocery shopping within a set budget, try out some of these suggestions. If you have any other tips not covered here, go ahead and share with us on social media. There might be someone out there who can benefit from it.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Our financial system is kept in balance through the federal reserve assessing and adjusting the federal funds rate. Due to the recent rate change earlier this month, you’ll likely see some new changes coming down the road that will affect your savings and borrowing rates.
What do the changes mean for personal finance planning and what financial opportunities could a rate change provide?
Links:
- Read the Forbes Advisor article mentioned
- Check out these additional resources for more information about the Fed rate and its impact on your money:
- MSN: The Fed just cut interest rates. How will your finances be impacted?
- Forbes: What Happens when the Fed Raises Rates?
- CBS News: The Fed cut rates for the first time in 4 years. What does that mean for your money?
- ABC News: The Federal Reserve is finally lowering rates. Here's what consumers should know
- CBS News: The Fed just made a jumbo rate cut. Here are 5 takeaways on what it means for mortgages and more.
- Learn more about our financial planning services at Triangle Credit Union
- Get in touch with one of our Mortgage Originators to learn more about a home purchase or refinance
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’ve paid attention to financial news recently, you’ll have noticed there was some media attention regarding the Federal funds rate.
On Wednesday, September 18, 2024, Federal Reserve Chairman, Jerome Powell, announced that the federal funds rate would decrease by .50 percentage points, or ½ a percent.
For anyone unfamiliar with the federal funds rate, it’s the rate set by the Federal Open Markets Committee that banks use to lend money to each other overnight. What makes this rate so special is that it impacts everything for us as consumers like any APYs earned on savings accounts to the interest rates we pay on loans and credit cards.
One Forbes Advisor article simply stated, “The fed funds rate effectively dictates the cost of money in the U.S. economy.”
The Federal Reserve regularly meets to assess the economy, reviewing important aspects like inflation and unemployment. During this meeting a decision is made to do one of three things, raise the rate, lower the rate, or keep the rate the same.
It’s not entirely necessary to know all the ins and outs of how the rate is determined and its role in the financial market, but it is important to be aware of how a rate change can affect your finances.
When the fed rate changes, it affects all aspects of the financial market so there are many signs you should recognize when news hits that the rate was raised or lowered.
When the rate goes up you may notice a few of these changes:
- Interest rates on savings accounts and CDs go up
- Rates for loans and credit cards go up
- It can strengthen the dollar thereby attracting foreign investors
- It can slow down economic activity and decrease the rate of inflation
Similarly, when the rate goes down, you’ll notice these changes:
- Borrowing rates get cheaper, decreasing rates for loans and credit cards
- Rates on savings accounts and CDs go down
- It can weaken the dollar and deter foreign investors
- Boost the stock market and stimulate economic growth by decreasing the borrowing costs for companies
The good news is that there are opportunities for all of us whatever the rate situation. We can use the rate environment to gauge what types of financial decisions we need to make.
This recent rate decrease should spark some considerations for anyone monitoring their financial position.
- It may provide an opportunity to tweak some budget items. Pay attention to your interest rates. If they go down, it could free up some cash that you could then reallocate to other budget line items.
- Talk to a financial professional about your investment mix and ask whether adjustments should be made. Because the stock market is likely to be affected by the change in interest rates this might be a good time to reevaluate your investment portfolio to adapt to the changing economic climate.
- It might be a good time to refinance any existing loans like your auto or house loan or even a good time for debt consolidation. Talk to a financial professional or mortgage originator to get an idea of any new rate and term options that may now be available.
- For those waiting for lower rates, it might finally provide an opportunity to make that larger purchase, like a house.
Due to the recent decision to lower the Fed rate, we are likely to see changes coming across the financial world in the coming months that will likely usher in new financial opportunities.
To learn more about the fed funds rate and how it can impact your finances, as well as the Forbes article mentioned earlier in this episode, check out the list of links in the show notes for more information.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In today's housing market, prospective buyers face numerous challenges that make purchasing a home seem almost unattainable. From high prices to limited inventory, the dream of home ownership feels increasingly out of reach for many.
In this episode, we're chatting with Ryan Campbell, mortgage originator, about the strategies and tools buyers can use to finally get that house they've been dreaming of.
Links:
- Learn more about our affordable 40-year mortgage program
- Check our current closing costs offer
- Get in touch with our Mortgage Team
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
When it comes to budgeting, how many of us get started, work through it for a few months, and then stop using it altogether? What is it about budgeting that is particularly difficult to stick with?
If you’re struggling with maintaining a budget for longer than a few weeks or months, there are various ways to keep that budget running for years.
Links:
- Check out our Goal Builder tool to help automate saving
- Watch out Budgeting 101 webinar
- Triangle Financial Planning Services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We make budgets to improve our financial situation. And they only work if they’re maintained.
Putting together the budget is the first step and usually the easiest step but after that, sticking to it over a worthwhile period is the real challenge.
There are many reasons why budgets fail. Lack of discipline, lifestyle changes, emergencies, and disorganization can all contribute to losing control of a budget.
With the right strategies, you can turn your failing budget into a successful one that helps you reach your financial goals.
Here are a few ways to ensure your budget gets the attention it deserves.
- Set clear financial goals—the more precise, the better. By setting clear short-term and long-term goals, you’ll know exactly what goal to work towards, providing a clear direction and adequate motivation to achieve it.
- Create a budgeting schedule. Set aside a little bit of time each day or week to review your budget. Make this your time to focus on your finances. If you want a budget to work, you must pay regular attention to it. Be consistent, show up, and make your budget a priority.
- Track your expenses. Keep a consistent and detailed record of every expense you make. Tracking expenses will keep you aware of where your money is going and can help you highlight spending trends that need to be adjusted or tweaked.
- Plan for irregular expenses. Life is unpredictable, and many things can pop up out of nowhere. Make sure you’re planning for seasonal or irregular expenses in your budget. These don’t have to be emergencies. Things like birthday gifts, wedding gifts, and shower gifts can all fall under unexpected, irregular expenses.
- Use budgeting tools. Various budgeting tools are available that help people put together and regularly manage their budgets. Find these tools and use them to keep your budget running like a well-oiled machine.
- Review and adjust regularly. The budget you put together a year ago may not be the same budget you’ll make today. Many things can change over a year, so regularly reviewing and adjusting your budget is essential. Did you get a promotion? Buy a house? Have a baby? All those life changes are significant enough to force you to review and adjust your budget to keep up with the changes in your life.
- Automate your savings. Set up automatic savings to keep money funneling towards healthy savings. Saving is often one of the last things people think to do, but it should be the first. Automating savings through tools like direct deposit and even goal-building tools is an easy way to make sure you’re regularly paying yourself first.
- Stay educated. Keep your financial knowledge up to date. Research, read, listen, and learn. There are so many ways to keep informed of economic news and changes that will impact your budget. You’ll be more enabled, confident, and motivated to run and adjust your budget to improve your financial future exponentially. For news, tools, and trends, check out our vast collection of webinars and financial articles at TCU University and explore the many financial planning services on our website.
Staying on top of your budget can be challenging, but with the right strategies and discipline, you can manage your finances effectively.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In today’s digital age, text message scams are becoming increasingly sophisticated. These scams can lead to significant financial loss, identity theft, and even compromise your personal data. It’s more important than ever that you learn how to detect the key signs of fraudulent messages to protect yourself from falling victim to these common scams.
Links:
- Read more about fraud awareness tactics and view recent fraud alerts
- Learn more about the benefits of Better Checking with ID Protect
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
There has been an increase in all kinds of scams targeting almost everyone they can. Fraudsters attempt to get unsuspecting victims in almost any way. They’ll use fake ads, fake websites, cleverly disguised emails, phone calls from seemingly recognizable companies and even text messages with links.
The danger of these scams is that with only a little bit of personal information, they can wreak havoc on your life and finances for years to come.
Lately there’s been a large increase in scams targeting individuals, coming specifically through text messages. It’s important to know the signs of these types of scams so you don’t become a victim.
Here are some of the more common text message scams you might run into.
- Bank Alerts: Scammers often impersonate banks, sending texts that claim there’s an issue with your account. These messages are designed to create a sense of urgency, prompting you to click on a link or call a number to “resolve” the issue or verify personal information.
- Delivery Notifications: You might get a text saying there’s a problem with a package delivery. The message includes a link to a fake website asking for personal information or payment details to correct the problem.
- Fake Fraud Alerts: Scammers send texts pretending to be from your bank or credit card company, warning you of suspicious activity. They ask that you confirm account details to keep your account secure, but it’s their way of getting your login information so they can access your accounts and steal your money.
- Prize Notifications: You receive a text claiming you’ve won a prize or a lottery. To claim it, you’re asked to provide personal details or pay a fee. Scammers use your excitement of being a winner to trick you into giving away sensitive information.
- Impersonation of Friends or Family: Scammers might text you pretending to be someone you know, claiming they’re in trouble and need money urgently.
- Job Offers: You might get a text offering a high-paying job with minimal effort. These scams then ask for personal information to continue forward with the job or they’ll request an upfront fee for job-related training or equipment.
- Fake Invoices: Scammers send texts with fake invoices for services or products you didn’t order. These texts then include a link to dispute it that leads to a fake site asking for sensitive information.
Scammers are getting increasingly clever and crafting believable messages disguised to look like urgent alerts from companies and individuals you trust.
It’s more important now than ever to familiarize yourself with these tactics so you won’t be caught off guard next time you’re targeted by a scammer.
So what actions should you take if you get any of these messages?
- Don’t act on the message out of fear! These texts rely on the tactic of creating urgency to get you to act without thinking. Don’t follow the prompts or click any links.
- Contact your financial institution, the company or individual through an access point you know is safe. Open a new browser and go to the company’s website to get their contact information. If it’s a suspicious message from an individual like a friend or colleague, contact them through a method you know to be safe, like a trusted messaging app, their phone number in your contacts or a known email address.
- If you get a message of fraud activity on our card like, “fraud use detected: verify this purchase was yours or not.” Investigate on your own first. Open your mobile app or visit your online banking account using the browser and check your transactions there. If there’s no reflected transaction, then the message was a scam.
- Finally, set up identity theft protection for yourself and family members. There are a lot of great products out there that provide identity monitoring, expense reimbursement, and case managers to provide assistance in case you ever become a victim. Check out Triangle’s Better Checking account with ID Protect for identity theft protection and other resources to keep you and your family safe.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Financial anxiety is a common yet often overlooked issue that affects millions of people all over the world. It can stem from various sources and can significantly impact one’s mental and physical well-being.
Whether you’re struggling with financial stress or looking to support someone who is, understanding financial anxiety is the first step towards a healthier, more secure future.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re someone struggling with feelings of financial anxiety, it’s necessary to manage those feelings and overcome them before they take a significant toll on your mental and physical wellbeing.
What kinds of situations tend to cause financial anxiety in many Americans today? Here are a few reasons people might be facing the challenge of financial anxiety.
- It can stem from having too much debt. Carrying high balances on credit cards, student loans or even a mortgage can lead to levels of anxiety.
- Income instability can cause financial anxiety because taking in irregular income makes it difficult to plan out a consistent budget and maintain regular payments from month to month.
- Unexpected expenses are another cause of financial anxiety. When sudden costs come up like medical bills, car repairs, home repairs or more, it can cause a disruption in your financial stability that can significantly increase your stress.
- A lack of overall savings is also a cause for financial anxiety. If you don’t have enough money set aside for the future it could lead to constant worry.
The dangers of financial anxiety can cause many negative effects on your body and habits. High levels of anxiety can cause physiological responses like insomnia, headaches and racing heart whenever you think about finances. You might also notice behavioral changes like obsessively checking your bank balances, avoiding certain financial decisions, and feeling overwhelmed by small expenses.
Struggling with these emotions and not tending to the root cause can lead to behaviors that negatively affect habits and lifestyle. Some people might practice avoidance by ignoring their bills, statements, and other financial responsibilities. Some might engage in impulse spending by making unnecessary purchases to relieve stress and help themselves feel better. Some may even turn to substance abuse to cope with anxiety and others might face isolation by withdrawing from social interactions to avoid embarrassing conversations about money.
Fortunately, there are many ways to properly manage and overcome the pressures of financial anxiety. Here are a few tactics you can try to minimize financial anxiety and start improving your financial life.
Start with creating a budget and stick with it. This will keep you organized, gives you control and helps reduce your overall feeling of uncertainty when it comes to money.
Get in touch with a financial professional who can assess your current situation, provide some clarity on your financial shape and give you actionable steps that will move you on the right path.
Take time to practice mindfulness and relaxation techniques. Taking time to calm yourself and your mind can improve all kinds of anxiety. Meditation apps and yoga practices are great ways to practice self-care and improve your overall mood giving you more energy and confidence to tackle challenges.
Get on building that emergency fund so you’ll have a comfortable cushion of cash sitting on the side for unexpected expenses and an added sense of security.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In this short follow-up segment to our latest episode, Adriana Torres discusses insights from her conversation with Elizabeth Costa about the complexities of entrepreneurship. She highlights the importance of recognizing and overcoming biases, emphasizes that the entrepreneurial journey is personal and non-linear, and advocates for understanding customer problems and providing effective solutions to succeed in business.
Links:
- The Process Reinvention LLC
- Contact Adriana: theleanidea@gmail.com
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Junk fees are those unexpected, often hidden charges that can turn a seemingly good deal into a costly affair. Whether you’re booking a flight, renting a car, or signing up for a new service, these fees can sneak up on you, adding significant costs to your final bill. Fortunately, there are ways to recognize and avoid many common junk fees if you know where to look first.
Links:
- Find fee-free Triangle ATMs when you're out
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Junk fees are known as hidden or unsuspected fees that pop up at the final checkout point raising the final price of the product or service.
If you’re looking for a practical way to cut down on the number of junk fees you pay or avoid paying them entirely, then it’s worth it to recognize the most common types of junk fees.
Some of the more common fees people end up paying are as follows:
- Service charges for event tickets
- Resort fees at hotels
- Late payment fees
- Overdraft fees
- Termination fees
- Out of network ATM fees
So how does one avoid paying additional junk fees when purchasing a product or service?
When it comes to purchasing items like event tickets, there aren’t too many ways to avoid service charges and fees. The best thing to do is to make sure you’re aware of the cost of the fees beforehand so you won’t be surprised at checkout.
When it comes to resort or hotel fees, make sure you explore the listing before you purchase and read all the booking information. Get a good understanding of what’s included and what’s not. Will you need to pay extra for wifi, breakfast, certain amenities? Make sure that you’ve reviewed all the information when you purchase so you’re fully aware of all the additional charges you might have to pay when booking.
For late payment fees, the most important way to avoid paying them is to, you guessed it, avoid missing payments altogether. The best way to make sure you no longer miss payments is to stay organized and set up automatic payments. With online and mobile banking you can use bill pay tools to easily automate payments to different payees. Setting this up will ensure your payment will be sent on time every month and you won’t get slammed with additional fees. It’ll also help your credit score!
An overdraft fee is a charge imposed by a bank when you spend more money than you have in your account, causing your balance to go negative. This fee compensates the bank for covering the shortfall and allows the transaction to proceed. To avoid overdraft fees, set up overdraft protection with your financial institution so the missing funds will be drawn from another one of your accounts. Also, set up account balance notifications that will send an automatic message to alert you when your account balance dips below a set dollar amount of your choice so you always know your account balance before initiating a transaction.
Termination fees are another way people get charged extra in ways they didn’t quite expect. Some companies like gym memberships, phone services, internet and more have written contracts where they charge you a fee to cancel your subscription before the contract ends. The best ways to avoid paying too much to cancel a membership is to make sure to review the FAQs and fine print cancellation policy before signing up to learn how much the company will charge to cancel the service.
And our final fee is one you may encounter when getting cash from ATM. ATM transaction fees are common but can easily be avoided with a little planning. Try to find and use ATM locations that don’t charge fees like ones at your banks branch location or others that might be part of an ATM co-op. If you’re a credit union member, your institution likely participates in a co-op system that allows any credit union member to use another credit union’s ATM fee free. You can also check your institutions’ website for a list or map of fee free ATM locations in your area like some gas station chains and other locations.
When it comes to paying junk fees it’s important to stay vigilant and informed on the most common types of junk fees so you can take measured actions to reduce their impact on your finances.
Have you recently encountered junk fees? Do you have a special strategy you use to avoid them? Feel free to share your thoughts with us and other listeners on our social media and podcast pages!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In this episode we chat with Adriana Torres about the differences between corporate and entrepreneurial mindsets, including the need for calculated risks, continuous innovation, and self-motivation. We also discuss the value of failure as a learning tool as well as some important business resources budding entrepreneurs can use to achieve their dreams.
Links:
- Check out the business resources from CWE, SCORE and the SBDC,
- Start with Why, by Simon Sinek
- Finding Your Why by Simon Sinek
- Thinking Fast and Slow by Daniel Kahneman
- The Lean Startup by Eric Ries
- Atomic Habits by James Clear
- The Four Agreements by Don Miguel Ruiz
- How I Built This by Guy Raz
- The Process Reinvention LLC
- Email Adriana: theleanidea@gmail.com
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript
Technology continues to shape the landscape of just about every area of our lives and one of the areas where we experience the most technological adaptation is the world of finance. It continues to play an important role by bringing us more power and capabilities through new tools and platforms. These tools provide the capabilities to improve finances, set and achieve goals, and transact safer and easier.
Links:
- Sign up for online banking and download Triangle's Mobile App to access digital banking services
- Check out our Goal Builder tool to set new savings goals
- Try out our Financial Wellness Assessment to see how your finances measure up
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Technology is a game changer for so many processes and platforms. When it comes to banking, you’ll gain access to a lot more valuable tools that can give you more power to achieve your financial goals. There are three top ways banking tech continues to improve our experiences.
- It offers us more convenience
It makes deposits easier for more efficient management. Direct deposit eliminates check cashing by depositing your paycheck directly into a designated account. You can even have the check allocated across different accounts for easy, automatic management. Plus, if you do receive a paper check, remote check deposit eliminates the need to travel to a branch or ATM to deposit it. You can quickly deposit it at home with your mobile app or online banking.
Banking is now in the palm of your hand – and with you wherever you go because many of these everyday banking tools are right within a mobile app. If you want to check your accounts daily you can and whether you’re at the store, in the office or at home on the couch. Banking tech also provides more convenient payment processes through tools like your phone’s mobile wallet which keeps your card information protected behind layers of security both within the app as well as during the transaction process.
- It offers Heightened Security
Banking, with its expansion across technologies, has an increased focus on security, keeping your account information and finances safe from threats. Digital banking platforms incorporate biometrics and PIN codes to keep layers of security between your information and anyone collecting it. New digital tools like wallets and chip cards keep your card numbers out of the transaction and use tokens to give you a seamless payment experience without ever exchanging your sensitive banking info.
If you like to be kept in the loop about the status of your accounts or of any ongoing fraud trends going on it’s good to sign up for notifications so you can be ready before danger strikes.
- It Brings us Better Tools:
Banking tech has also provided more sophisticated tools for financial management and awareness. Financial management tools give you the capabilities to organize your cash flow systems by setting goals, paying down debt and building your net worth. You can use goal builder tools to automate savings into categories geared towards financial goals like a house downpayment, new car, or emergency fund. Like a digital envelope system. You can also access financial wellness tools that assess your financial health and detect areas of improvement. Then with this knowledge you can follow up with a financial professional to fix any areas of improvement.
Banking technology has come so far from the days with bank books and checks. Now with ease of use and accessibility, you have more control over your money now than ever before. Technology will continue to increase our banking experiences giving us more power to improve our financial situation.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Are you looking for ways to make more money and increase your revenue stream? Then starting a side hustle or several of them might be for you! Here are some great ways to make extra money on the side!
Links:
- Freelancing: Upwork, Designhill, LinkedIn
- Pet Care: Wag, Rover
- Ridesharing: Uber, Lyft
- Delivery Service: DoorDash, UberEats, Instacart
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
One nice thing about having a side hustle is choosing what interests you. It allows you to explore your interests and broaden your horizons while making some extra cash. Freelancing is an excellent example of this.
Freelancing is when you work with a client on a one-off project. If the client likes your work, they may come back to you when they have another project. Freelancing can involve all sorts of different work, including writing, editing, graphic design, website design, etc.
Are you unsure of where to get started freelancing? Don't worry because there are plenty of websites where you can find freelancing gigs. Upwork, Designhill, and LinkedIn are great places to start your side hustle!
This next side hustle is great for animal lovers. Pet sitting and pet walking are great ways to make money on the side, and hanging out with animals is a bonus. To get started, ask your friends or family if they need someone to take care of their pets while they're away. Websites such as Wag and Rover let you find people who need their pets cared for while they are away.
For these following side hustles, you will need a vehicle and a valid driver's license. The first one is ridesharing. If you are okay with driving a stranger in your car, ridesharing is a great way to make extra money. It works like a taxi service, but you use your car instead of working for a taxi company and driving a taxi. You can also pick when you want to work, which is great if you're looking for a side hustle with flexibility. Check out ride-share companies like Uber and Lyft; they're popular and well-recognized.
The second one is to run a delivery service. If you'd prefer not to have a stranger in your car, you could use it to deliver food or groceries instead. Like ridesharing mentioned, delivery services offer flexible hours, where you get to work on your own time to deliver food or groceries to homes in your area. Popular delivery service companies are Doordash, Uber Eats, and Instacart.
One thing to look out for when getting into side hustles is to avoid scams. As you explore side hustle, you might discover some multi-level marketing or pyramid schemes promising that you'll make tons of money, but that is rarely the case, and you'll most likely lose money instead of making any. Do some research beforehand, and don't let promises of making a lot of money quickly convince you to sign up for something that'll cost you more in the long run. Remember, if it's too good to be true, it probably is.
This tip mentions just some of the side hustles out there, and there are plenty more to explore! To figure out what side hustle is right for you, start with your interests and what skills you want to expand on. Then, search the Internet and ask around to find out ways you can use those skills and interests to bring in some extra cash.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
When it comes to your finances, it takes some time to learn the proper lessons to achieve financial goals. With the right mindset and understanding you can use the money you earn to build wealth and eventually reach financial independence.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
For anyone looking to be financially independent, it’s critical to understand some fundamental financial principles to follow that can help you get there.
Although everyone’s financial road map is a little different because goals and experiences are different, there are some financial principles that can help you build wealth over time and achieve financial independence.
- Pay Yourself First (save early, save often)
Why are you working and earning money? Is it to make yourself wealthy or to make someone else wealthy? The fact is that when you bring in money, yes, you’re getting paid, but if you don’t keep any for yourself because you spend it all then you didn’t build any wealth for your future. Whenever you pay money to anyone else, whether it’s an item you buy at the store, or money spent for a vacation, you’re not contributing to making yourself fiscally rich, you’re contributing to making someone else rich.
This is why budgeting is so important. It ensures you’ll have enough money to pay for the necessities of life, some for your enjoyment and well-being, but also putting some aside for yourself. Try to set some of your money aside for saving in a regular savings account, CD, Money Market or investment account over time. As it accumulates, you’ll be building wealth for yourself. - Consider the true value of what you buy
Everything you buy has a value to it that is more than just the price you pay for it. Some things hold value for a long time and even go up in value, while other things depreciate, sometimes so fast, you’re buying a new one within the next two months.
Being an informed shopper will help you determine whether the higher quality, more expensive item is worth the purchase, or if the cheapest item is the way to go.
Some key factors to consider when purchasing are as follows: the cost – how much will you pay for it. The quality – what are the materials and are they long lasting or more disposable. The usefulness – how does this item affect my immediate and future needs. The lifespan – How long will this item last?
There are many instances where buying the cheapest item is the most economical way to go. But remember that for many things in life, you get what you pay for. Understanding the cost and value of the items you purchase will help you make an informed spending decision and avoid wasting money. - Understand what credit IS and ISN’T
Remember credit is NOT your money, nor is it your wealth. Credit is the ability to borrow money to buy something now, with the agreement that it’ll be paid back later.
But, many people forget that their credit limit and lines aren’t the same as having cash in the bank. Every cent on the credit balance needs to be repaid. Using credit isn’t a bad thing, since many people use credit lines for emergency purposes or to get cash back and other rewards programs for purchases. The danger lies in the thinking that credit is your cash and thereby the temptation to overspend is great.
If you manage your credit cards correctly, by paying your balance every month, then you can use your credit for beneficial purposes. Credit is a useful tool that can give you a lot of buying power, but it needs to be treated with respect and care. - Be Patient
Our impatience holds a large influence over our spending tendencies. It also impacts our trajectory towards financial independence. As the saying goes, Rome wasn’t built in a day, and the absolutely applies to building wealth. Don’t expect to be at the finish line the day you start the race. It will take careful planning and time to get to your destination. You need the motivation to begin, but the endurance to continue.
Impatience can sabotage even the most well-conceived plan because along this journey you’ll get tired, feel like you’re not making progress, and sometimes consider giving up, but don’t. Understand that this is a process and with consistent, steady action, you’ll build wealth and achieve your financial goals.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Summer is the time to get out and do some traveling. But if you’re like many Americans looking to find ways to save money, you might be rethinking that elaborate getaway and opting to do something a little closer to home. Fortunately, there are a lot of amazing staycation ideas that’ll likely give you plenty of opportunities to get the needed rest and relaxation or chance to explore something new.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
We all vacation for a variety of different reasons. Sometimes it’s to get away from the responsibilities of home, or simply to explore a new environment. But, if you’re looking to cut back on traveling this year, you can still find many activities that provide the same benefit of a vacation, right within the comforts of your home or local area.
If you’re on the hunt for some ideas, here’s a list of 10 awesome staycation ideas to enjoy staying local this summer:
- Set up a spa day. If you’re someone who loves being pampered, then schedule a time to get a relaxing spa treatment or massage. Show yourself some love for all the hard work you put in every day by taking time to relax and enjoy a little self-care.
- Tour your own town. How many people really explore the attractions and locations around their own towns? Yes, we shop, work and go to appointments, but have you ever visited your local museum or a nearby historic site? Check a tourist guide or website of your surrounding area to get an idea of the sites and attractions you haven’t yet discovered.
- Host a cooking night for friends or family. If you love hosting, schedule an evening to invite some people over and enjoy cultural dishes or a special themed meal complete with apps, drinks and dessert.
- Go on a day trip. Taking a staycation doesn’t mean you can’t travel a little. Day trips are a great way to get the benefits of a new experience without a hefty price tag. Find a nearby town or city that you haven’t visited before, get in the car and explore it for a day.
- Camp in your own backyard. Even if it’s in your backyard, camping can still be enjoyable. Put up a tent, set up a campfire, roast some marshmallows and spend a night out under the stars.
- Do a movie marathon. If you love movies, set up a time to watch your favorite film series from beginning to end. You can also organize a special film fest with friends to watch a custom series of critically acclaimed or award-winning flicks.
- Go to see a live performance. Enjoy a visit to your local performing arts center or concert hall this summer to watch a play, orchestra or your favorite artist perform. Live performances are a great way to immerse yourself in the experience and leave lasting memories for life.
- Take an art class. If you’re interested in trying out a new art, explore your area for local art classes and try your hand at a new craft. Many local artists and art groups offer classes to teach newbies all kinds of artistic skills like painting, photography, glass blowing, pottery and more.
- Try out an escape room. If you’re in the mood for a little challenge, get a friend or two together and visit an escape room in your area. They’re great for testing your teamwork and observation skills under pressure but in a fun and memorable way.
- Spend time volunteering. Take a day to help at a local charity or non-profit in your town. One of the best uses of your time is to spend it helping someone else. If you’re looking for an opportunity to give back, use a bit of your staycation time to make a difference in your community.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Summer is one of the busiest times of the year-- kids are out of school, the warm weather beckons you to spend time outside, and there are a wide variety of events and activities to attend!
In all the hustle and bustle, wouldn’t it be nice if you had one less thing to keep track of while you’re out and about? With mobile wallet, you can carry less and make the most out of your summer adventures.
Links:
- Learn more about how to set up and use your own mobile wallet
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Here are 3 reasons to use your mobile wallet this summer:
- Quick and Convenient
Finding credit or debit cards in your wallet or purse can be frustrating, especially when you’re in a hurry. Imagine if you could pull up a card for payment in a few seconds, directly on your phone.
With the click of a button or a quick swipe, you can typically access your mobile wallet on your smartphone’s home screen which makes checkout at retail stores, restaurants, and event venues quick and convenient.
Stop spending time looking for your cards and instead spend time enjoying the summer season!
- Secure Payments
Paying with your mobile wallet is secure.
There are two layers of security that protect your card information.
First, your card information cannot be accessed without a pin, fingerprint, face scan, or password which ensures it's protected within the mobile wallet app. If your phone were to get lost or stolen, it’s not possible for anyone to use your mobile device to make a payment which makes it more secure than a physical card or cash.
The second layer of security is how the payments are processed. When you pay, your phone communicates with the terminal using near-field communication technology which provides encryption and other protections when data is transferred.
Your credit card number is also replaced with a randomly generated digital ID, referred to as a token, which means your card number is not being transferred at the point of payment.
If you've held back on using mobile wallet out of safety concerns, hopefully this puts your fears to rest.
- Tickets and Other Cards
In addition to your debit or credit cards, mobile wallet can also store other information, such as loyalty/rewards cards, event tickets, transportation tickets (airline and public transportation), and hotel reservations.
You no longer need to worry about keeping track of physical tickets. With access to tickets, rewards cards, hotel reservations, and payment cards all within your mobile wallet, you’ll have all you need for a day out in the palm of your hands.
Paying is a breeze with mobile wallet! If you haven’t set up your mobile wallet yet, it’s easy! Visit trianglecu.org to get started!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you ever found yourself comparing your life or your finances to other people? The truth is it's very common to compare ourselves with others around us, but it can often leave us with a sense of inadequacy or feelings of failure.
In this episode, we're going to discuss a few reasons why we often find ourselves playing the comparison game, how it affects our sense of well-being, and share some thoughts on how to guard against the effects that it might have on our lives.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Unless you live in an area with public transportation or walkable infrastructure, having a car is essential. Unfortunately, buying a vehicle can be quite an expensive and long process. Here are some tips to save money and cut down on stress when you go car shopping.
Links:
- Shop now and get pricing at Edmunds, cars.com, and Kelley Blue Book
- Check out the vehicle history with Carfax
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first thing you'll want to do before you ever step foot in a dealership is to do your research. What kind of car do you want? What features are important to you? Once you have figured that out, look online for the average price of your dream vehicle. Websites like Edmunds, cars.com, and Kelley Blue Book will not only show you what a reasonable price is for the vehicle, but also where you can buy that vehicle for the best price.
Another thing to consider while shopping for a car is its fuel efficiency. Vehicles with higher miles per gallon save you tons of money in the long run. If you live in an area with electric charging stations, consider buying an electric or hybrid vehicle to save even more on powering up your car.
Buying a car used rather than new will save you thousands of dollars. The second a new car is driven off the dealership lot, it depreciates. Cars also depreciate over time, so you can use this to your advantage when looking for an affordable car.
However, there are a couple of things to look out for when buying a used car. Check the history of the car. You can do this on websites like Carfax, which will tell you how many owners the car has had, if it's been in any accidents, and more. You should also check the mileage on the car; if it's high, that might cost more for repairs down the road. Before buying a used car, take it to a trusted mechanic to ensure nothing is wrong with it.
See if you can negotiate the price. Some dealerships are willing to lower the price; just make sure to do your research first. If you notice anything wrong with the car you're planning on buying, bring it up with the salesperson. They might lower the price or offer to fix the issue.
When shopping for a vehicle, it’s especially critical to avoid impulse buying. Take your time to research the car you're interested in. Look up if the car has any known issues. If you're at the dealership, ask to test drive the car to get a feel for how it drives. If you do impulse buy, you're at risk of paying more than what the car is worth which can severely impact your financial stability.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
The scammers are at it again! This time, they're targeting individuals on the job hunt. If you or someone you know is currently looking for employment, it's essential to understand how scammers use job listings to steal your identity or money.
Links:
- Learn more about Triangle's Better Checking account with IDProtect
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Scams and security threats abound, and it's not surprising that scammers are constantly devising new ways to trick you into handing over your sensitive information or money.
Some noticeable and sneaky scams that have risen in popularity since 2020 employment scams.
If you've been searching for a job over the last few months or even years, you must be on guard against scammers trying to collect your information through an employment scam. These types of scams target individuals looking for jobs and, in many cases, target individuals looking for work-from-home jobs.
You must keep an eye out for some signs someone might be scamming you with a fake job offer.
One sign is that scammers will only communicate with you through a messaging app like Telegram, WhatsApp, or email rather than a phone number or, in some cases, in person. Legitimate recruiters would connect with the individual through the business phone number or email. If a recruiter communicates with you only through a messaging app or an email from Gmail, Hotmail, or Yahoo rather than a business email address, that's a huge red flag.
Another sign that it's a scam is that they might ask you for your banking information and personal details right up front. Legitimate companies ask for banking information and other sensitive information after you've accepted the job offer and proceed with onboarding. They shouldn't ask for any of that information before you've accepted the job offer.
A third flag is if the company lacks credibility across platforms. While researching, look beyond just a simple Google search to review the company. Check that company information on other sites like LinkedIn, Glassdoor, and even the Better Business Bureau's website. Scammers can easily set up fake websites that will appear on a web search but beware if you can't find it on other platforms.
Another scam tactic is if they require you to pay for your supplies or training. There are stories of people who reported that after they accepted the job, they received invoices for work supplies like laptops and other materials. In other cases, scammers ask applicants to provide payment in advance for specific training programs or certifications required for the job. If you're asked to cover the costs for equipment or training before you're even working, think twice about taking the job. Employers should be covering the costs of your work equipment and certainly for required job training programs. If you discuss training programs and certifications in an interview, ensure you get any agreements for that training in writing before accepting the job.
A fifth red flag is if the interviewing process seems off. If the interview appears too short and fast-tracked, this is a red flag. Interviews should give you time to learn about the company and plenty of time to ask specific questions about the role you're applying for and your expected responsibilities. You should also be aware of interviews conducted only through text. Legitimate businesses will conduct interviews over the phone, through video calls, or in person.
What can you do to avoid falling for these scams?
Stay aware of scamming tactics. Remain diligent and question everything. If you see a job listing or a recruiter, send an urgent hiring message; don't respond too quickly. Messages that require you to act impulsively are deeply suspicious and likely attempts to get you to act immediately without thinking.
It would help to consider getting identity theft protection as a safeguard. We hope you'll never have to deal with an identity theft incident. However, even the most vigilant user can still become a victim of identity theft. That's why adding another level of protection over your identity with an identity theft protection plan is important. If you're looking for affordable identity theft protection, check out Triangle's Better Checking account with IDProtect. Not only do you get identity and credit monitoring 24/7, but you'll also get theft reimbursement and a case manager if you ever become a victim.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Saving money is not easy, especially when facing higher costs of living. The good news is: there are tools and apps that help you plan, track and meet financial targets. Stay tuned as we learn about the online resources available to help you hit your money goals.
Links:
- Check out more info about Goal Builder and its tools
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to the Money Tip Tuesday from the Making Money Personal podcast!
With the cost of higher prices on consumer goods, an increase in consumer debt, and other unexpected circumstances that people face every day, it can be difficult and frustrating to save money. While these are valid concerns, there are many solutions and resources to help you meet your financial objectives.
A simple Google search will give you plenty of ideas on how to save money, but if you’re saving money for a specific purpose, we encourage you to look at the online savings tools at your local credit union.
For example, at Triangle Credit Union, we have a great savings tool called Goal Builder. No matter what you’re saving for or how much it costs, Goal Builder can help you keep track and hit your goal. In a few simple steps, you can start saving toward your financial goals—let’s take a look at the process for members at Triangle:
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Set Your Goal
Once you’re in online banking, you select the TCU account you want to link to Goal Builder, you choose your goal type. You can choose from 10 premade goals or even create your own (based on your desired savings goal). Are you saving for a down payment on a new home? Choose Homeownership. Are you hoping to start planning a family vacation in the future? Choose Travel & Vacation. You can use Goal Builder even if you don’t have a specific savings goal in mind. The Rainy Day goal is an ongoing saving goal that has no end so you can continuously save money to use whenever you need or want it! If none of the pre-determined saving goals align with your financial plans, you can Create Your Own Goal with a custom name. -
Set The Amount
After choosing the right savings goal for your future financial plans, you can set the total amount of your goal. -
Set Your Start and Target End Date
After setting the total amount you want to save towards your goal, you choose the start and end date for your goal! This is valuable information because this will determine how much money will be allocated to your goal based on the frequency you choose. -
Set The Frequency
The frequency of the goal is how often you want the money to be set aside. You can choose from a variety of options such as weekly, bi-weekly, monthly, every 6 months, etc. If you’re new to saving and budgeting, it might make sense to choose the frequency that matches how often you get paid. For example, if you get paid weekly, you can choose to contribute to your savings goals weekly.
You can also set the rules for each goal. In this step, you are given the opportunity to assign money to your goal immediately. There’s no time like the present, or so they say! There are plenty of options and rules to select from, and you get to choose them! For example, you can choose scheduled or recurring designations, or a certain percentage of each deposit into your account. Both options have their advantages and choosing the right one depends on your specific situation.
After you’ve set your goals, you can manage and track progress on a goal summary page. There are three types of tracked goals:
• Active Goals are all goals actively allocating funds
• Completed Goals are all goals that have been met then closed
• Inactive Goals are goals that are incomplete but have been paused by the user
If you’re not sure how much you would need to designate toward your goal by your target date, you can use the goal calculator to determine the correct amount! Simply enter the total amount you wish to save, choose the start and end dates, and select the frequency in which you wish to contribute to the goal (ex. Weekly, bi-weekly, monthly, etc.); following these steps will show you how much you need to contribute (at your desired frequency) to achieve your goal on time!
The money that is set aside never leaves your account-- it is simply allocated towards your goals and is accessible at any time. It’s that simple!
Whether you’re a Triangle Credit Union member or bank at another financial institution, check out tools like Goal Builder to get your savings on the right track! And remember, every little bit you save, moves the needle in the right direction!
If you have any questions or comments about today’s MoneyTip or have suggestions on future topics and tips, please email us at tcupodcast@trianglecu.org.
For more great content, remember to subscribe to the Making Money Personal podcast wherever you listen to podcasts and follow us on Facebook.
Have a great day!
When it comes to events where the custom is to bring a gift, like weddings, birthdays, and showers, have you ever struggled to determine how much to spend, especially if you have many events to attend? Fortunately, there are some tips out there you can use to make sure to give a great gift without going over budget.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If your calendar gets filled up over the year with various birthday parties, weddings, showers, and holidays, you might find it a little jarring to feel constantly dishing out money for gifts. It gets incredibly challenging when you realize the money you wind up spending on gifts is getting dangerously close to blowing way past affordability. However, you genuinely want to give a nice gift to the person or people or honor.
Here are a few tips to keep your gift-giving within your affordability range.
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The most practical and straightforward way to do this is to set aside a separate budget item for other people's weddings and celebratory events. If you have some of these events coming up over the next year or two, dedicate a separate sinking fund specifically for gifts and throw some money into it over time. This way, you'll have it available when you need it.
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Set a price cap for the type of event you're buying for. Different events are significant in various ways. What you'd buy for a wedding might differ from what you'd buy for a graduation. Have a dollar amount in mind associated with the specific event you're planning for and stick with it. A simple online search provided a short list of price ranges appropriate for different events. Here are a few quick suggestions:
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- Weddings: about $100
- Birthdays: $15-$30 for acquaintances or kids' parties. Closer friends and relatives
- Bridal/baby showers: $ $50 - $100
- Graduations: $20 - $100 is appropriate
- Retirement parties: Depends on your relationship with the retiree, can be anywhere between $10-$100
Keep in mind that these are guidelines, not rules. Regardless of price, any thoughtful gift would be appreciated, so don't stress if this isn't the year to give elaborate gifts.
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Think about more than purchasing something. Gifts can be more than items bought at a store or off a registry. There are ways to get creative and offer meaningful gifts that cost you very little money. If you make quality crafts, a handmade gift can be appreciated the same if not more than a store-bought item.
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Consider contributing to a collective gift. If a gift you'd like to give is too expensive, consider going in on it with others. Pooling your money with others will give you a more significant, expensive gift without paying for it all yourself. Depending on the event, talk to other friends or family members to see if they'd like to contribute a portion of the funds to give a more expensive gift together.
Purchasing gifts throughout the year can often pop up unexpectedly and throw a wrench in our budget if we're not anticipating them. With some planning and sometimes creativity, keeping your budget in mind will help you focus on the right things and find the best gift to celebrate life events.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Who doesn't love vacations? If you're a vacation bug or considering planning your next venture this episode is for you. We're going to be discussing the reasons that we go on vacation, the real cost the vacation can be, and whether that cost is worth the money we pay. We'll also share some tips on how to save money on your next trip or your travel plans.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Did you know that family-owned businesses have their own national day? June 23rd is National Family-Owned Businesses Day and we’re sharing a couple of ideas on how you can support the local businesses in your community.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Local businesses are everywhere; chances are you've already shopped at one. The best way to support a family-owned business is to buy and shop locally! Next time you need to purchase anything, visit a small, local store instead of going to a big-box retailer or shopping at Amazon. Not only is it good for the family-owned business, but it also helps boost the local economy.
When you shop locally, you give money to that business, which means that that money will most likely be invested in your community. An American Independent Business Alliance analysis found that for every $100 spent at a local business, around $53 is recirculated in the community. Compare that to spending $100 at a big-box retailer, where only around $13 recirculates in the community. So not only are you getting your shopping done, but you are also giving back to the community when you shop at local businesses. If you prefer to shop online, check if the local company has a storefront and shop there instead of Amazon.
Another great way to support local family-owned businesses is to buy a gift card from them and give it to a friend or family member. Not only are you buying from the local business, but you're also incentivizing someone else to go into the store and buy from them. It helps them bring in more income and increases awareness of their business or service through increased market exposure.
If you're ordering takeout from a local restaurant, the best way to support them is to order directly from them. Third-party delivery services often charge restaurants a commission, anywhere from 6 to 30 percent; this can take a sizeable cut from the local restaurant's profits, so instead, order directly from them.
Another easy and free way to support local family-owned businesses is to leave them a positive review. If you enjoy their company, let others know. Businesses with positive online reviews are more likely to get more customers.
You can support other local small businesses if you own a small business. Use other small businesses as your supplier; this keeps the money local and suits your community. If a customer asks you for something you don't have, refer them to another local business.
Supporting family-owned local businesses is a great way to shop and supports the community in general. Next time you shop, consider shopping locally instead of giving your money to a large corporation.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have you ever thought to yourself, if only I had the money? You may be considering the purchase of a new car, a last-minute trip, or something as simple as a trip to the day spa. If you find you don’t have as much money as you’d like for the things you want, you’re probably realizing it’s time to save more? It may be the right time to try out a few fun and simple challenges to save money this summer.
Links:
- Get your savings started for bigger goals with Triangle's Goal Builder tool!
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Summer is the time for traveling, exploring, and enjoying the many fun things it brings.
It’s also a great time to energize yourself and breathe new life into your finances. If you’re looking for a way to save more money this season, try a savings challenge or two to push yourself toward meeting goals that will improve your life. To quote the renowned actor Morgan Freeman, “Challenge yourself; it’s the only path which leads to growth.”
If you’re looking for a way to improve your financial health by saving more money in a fun way, here are five financial challenges you can try out this summer.
- The give-up-something-for-summer challenge. How easy would it be to put something aside for some time? In this challenge, you’d pause a subscription service, sacrifice your daily latte, or hold off on ordering takeout for a determined period. Put any money you would have spent on the item or service you gave up into a savings account. The amount you can save will depend on what you’re giving up, so the more expensive or frequent habit you cut back on, the more you can save over the life of the challenge.
- No-spend challenge. Are you brave enough to stop all non-essential spending for a bit? In this challenge, you still pay your bills and groceries but pass on everything else, like entertainment, dining out, drinks, and unnecessary shopping. Set the timeline like a week, two weeks, or even a month of no spending and save that money in a separate account. This challenge can be rewarding as you find new ways to have fun and enjoy opportunities at no additional cost.
- Credit card timeout. How long can you go without using a credit card? In this challenge, you put that card, or cards, away and use only cash or your debit card when buying things. This challenge will force you to keep your account balance in mind whenever you spend, which will likely cause you to think twice before checking out. Many studies have shown that people are more likely to spend more money paying with a credit card than with a debit card or cash. If you’re up for this challenge, you’ll likely save money every time you pay due to the payment method alone.
- Round-up challenge. How much can change really add up? In this challenge, every time you buy something, round the cost to the next dollar and put that change into an account. For example, if your recent grocery bill was $225.50, round up to the nearest dollar and save the difference. In this case, you’d put $.50 into a savings account. You would do this for every purchase you make for your challenge period, whether a few weeks, 30 days, or even 3-6 months. Because the contributions are so small, they might seem unlikely to build up, but you may be surprised by how much you can collect over time.
- 52-week savings challenge. Do you have the discipline to keep a challenge for a whole year? This one lasts longer than the summer season, but it is worth the effort once completed. In this challenge, you save money every week of the year. Each week is numbered between 1-52. You would then save $1 the first week and $2 the next week, and you would increase the savings amount by $1 every week that follows. If you stick with this one, you will have saved a whopping $1,378 at the end of the challenge. That could be enough for a small getaway or even an excellent start to an emergency fund.
These are only some of the many saving challenges out there to explore as fun ways to test your discipline and resolve. Plus, it’s impressive to see the savings build up over time and know that your effort led to a larger bank account.
If you’d like to save even more money for long-term goal building, like saving for a vacation, a new car, or your emergency fund, use Triangle’s Goal Builder tool within online banking for a convenient way to automatically set aside money for your goals. Check it out within your online or mobile banking account to get started!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Buying a house is a huge decision. It takes a lot of planning and preparation. If you hope to own a home someday, you may begin wondering whether you’re ready to start the process. Fortunately, there are some basic questions and steps you can take to gauge whether it’s the right time or if you should prepare a bit more before such a big purchase.
Links:
- Learn more about Downpayment Assistance Programs
- Check out Triangle's mortgage resources and current rates
- Calculate your payment using out mortgage payment calculator
- Get in touch with one of our Mortgage Originators
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When buying a house, you’ll find you’re faced with many choices. Going in new to the game can be intimidating, especially if you’re facing pressure from places like family, friends, or even the economy.
As you get started, you’ll need to determine a few important things to find out if you’re ready to make such a big purchase.
First, if you’re feeling ready to embark on this journey remember that you don’t have to do it alone.
The best way to start is by setting up an appointment or free consultation with a mortgage loan officer. They can review your finances with you, set you up with a plan of action that may include preparing your credit and accounts prior to applying, get you in touch with a realtor, and provide an idea of the price range you should be looking at when shopping.
Mortgage professionals will help you answer essential questions to determine how ready you are to find the right home.
First, they’ll help you figure out how much down payment you’ll need. Determining the down payment is an essential step in the home-buying process. The more you put down, the less you’ll need to borrow. But for many people, this is a challenging step because it takes time and planning to save enough of a down payment that will even make a dent in the overall house price.
Lenders generally require 20% down, which as of this recording is averaging around ninety-five thousand dollars in New Hampshire—difficult for most to obtain. With the benefit of PMI (Private Mortgage Insurance), many lenders can offer a mortgage without that large down payment. Because of this, different lenders also offer a variety of first-time homebuyer programs that accept low down payments, some as little as 5% or even 3% down. That can make a huge difference for someone with little time to save up for a down payment. Being intentional about saving that down payment is critical, and it will make the difference in how much money you’ll have to borrow for your home.
Second, they may provide insight on whether you qualify for any down-payment assistance programs.
If you’re struggling to collect enough for a downpayment, you may find help through down payment assistance programs. These are special programs, usually for first-time home buyers, but not explicitly, that can provide funds like grants, particular loans with very low rates or no need for repayment, forgivable loans, and tax credits. These offers are very localized and differ from state to state, but it’s worth researching the opportunities that might be available to you. Remember that you may have to meet specific requirements to get the assistance, and some lenders might not work with all programs, so do your research beforehand to determine your likelihood of receiving downpayment assistance.
Third, they’ll help you get an idea of your interest rate and APR.
The interest rate significantly affects whether you’re ready for a mortgage. Getting as low an interest rate as possible is a top priority for many people. As a prospective homebuyer, you’ll find that you’re not only shopping for houses but that you’re also shopping for the best rate. Rates play a considerable role in how much you’ll pay in interest over the lifetime of your loan, and they vary by lender. But, to get as good a rate as possible, you need to have good credit. Make it a point to know your credit score. This is one of the most significant factors for lenders regarding what interest rate you’ll get, so nurturing a good credit score is ideal. Monitor it regularly and ensure you’re making all payments on time, reduce your debt-to-income ratio by paying down as much borrowed money on credit cards or personal loans as possible, have a good credit mix and a reasonable length of credit history. The better your credit score, the more likely you’ll get a reasonable rate and pay less overall for your mortgage.
Finally, they'll help you get an accurate estimate of your monthly payment. Once you have a good idea of your down payment and what rates you qualify for, it’s helpful to calculate what you can expect to pay monthly and whether that’s affordable.
Use a mortgage calculator to determine how different down payments and rates affect your monthly payment. Remember that insurance and taxes should also be factored in for the most realistic payment possible. Use the calculators to determine whether that monthly payment is something you can comfortably afford and if not, your mortgage professional can provide options or insight into how to make it more affordable.
Determining you’re ready to buy a home should involve careful planning and research. Like many other significant decisions in life, rushing into a home purchase can be dangerous if you’re not ready. However, considering all the factors mentioned earlier, you will be encouraged to ask the right questions to ensure you’re as prepared as possible.
If you’re ready to buy a home, it’s time to contact a mortgage professional who can help you plan it all out. They’ll walk you through the process of getting pre-approved to finalize the deal at closing. Our team at Triangle is here to help you get the best mortgage option for the home of your dreams.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
When it comes to running a business, there are bound to be a lot of challenges and many questions along the journey. That's why there are so many amazing people working every day to help guide small business owners and entrepreneurs towards their dreams of success.
In this episode, I chat with SCORE Representative Adriana Torres, about how her personal mission drives her passion for not only working at SCORE, but also as an entrepreneur herself.
Links:
- Adriana's Time to Share podcast: YouTube
- Contact Adriana at: adriana.torres@scorevolunteer.org
- Learn more about SCORE
- Check out our upcoming Latino Connection for Small Business event on June 6th, 2024
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View Transcript.
High school graduation day is a milestone for the new grad and the parent(s)! After the celebration, it’s time to discuss the real world, reality, and the next best financial steps. What would you say to your graduate? We have the answers to that question.
Links:
- Watch our Budgeting 101 Webinar now
- Get your grad up and running with a new checking account
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
CHOOSING YOUR COLLEGE/TRADE SCHOOL
Whether your new grad is heading off to college or a trade school, the next level of education can be expensive. The best way to pay is to save, avoid student loans as much as possible, and choose an affordable school option.
Many young adults choose to attend their local community college for the first two years for general education (Gen Eds) courses, such as college English, college math, etc. The cost per course is much lower at community college, and this will save considerable money over two years (as in thousands). Plus, a local school means living at home to avoid dorm and food fees that many students incur during their first year away.
How many times do new college students change their major? I know I did—and that cost me a couple of thousand to make up classes. The first two years at a community college is the perfect time to assess a career choice, and getting those gen eds out of the way at a lower cost per class is a smart money move. Most 4-year colleges quickly transfer new students and their credits—especially if the student has excellent grades!
A BUDGET IS YOUR NEW BEST FRIEND
Whether your new grad is off to work or school, it’s time to introduce the world of budgeting. A budget is simply a plan to tell your money what to do and should be prepared in advance (we recommend the beginning of the month).
Some young adults have few expenses, especially if they are still living at home—that’s okay; there will be fewer line items on the budget to manage.
Why budget? It’s a life skill that helps adults manage their money, save for their future, and live more flexibly. For more information on budgeting, I recommend our Budgeting 101 webinar on our YouTube channel.
GET A JOB!
Even if your new grad is heading to college, a part-time job is a great way to earn some spending money for some social time. Students with part-time jobs do statistically better in school because they are required to manage their time better than those who are not working.
Many students pay for college while they are in college, and this is a brilliant money move—avoid student loans as much as possible and never take out loans to cover living expenses, such as room and food.
THE BANKING BASICS
If your new grad doesn’t have savings or checking (with a debit card), now is the perfect time to head to your local credit union to set up these financial basics. Many credit unions have online account openings, so you no longer have to go to a brick-and-mortar branch.
If you are uncomfortable explaining how checking or debit card transactions work, head to your local branch. Branch representatives will take the time to explain direct deposit and debit transactions and how to avoid overdrafts and associated fees. Even if you are very comfortable with this subject, visiting the branch may be a good idea. Hence, your young adult gets this information from a credit union representative.
DON’T OVERSPEND WITH A NEW CREDIT CARD
Post-high school is a time for freedom—including spending. At 18, young adults are now eligible to apply for their credit cards, which means their world is about to open wide.
When I was in college several years ago, credit card companies offered free t-shirts to those who applied. “Build your credit,” they said. While building credit is a good, responsible step, young adults need to consider the consequences of credit. Take time to explain credit and how credit can be adequate. The rule of thumb to follow: if the bill can’t be paid in full when it’s due, don’t spend the money on the purchase.
If you have any tips on this topic or ideas for future issues, please email us at tcupodcast@trianglecu.org. For more great content, be sure to subscribe to the Making Money Personal podcast wherever you listen to podcasts.
As of 2024, U.S. students currently owe $1.74 trillion in both federal and private student loans. That amount is ridiculously high, and students who owe money on their loans are scrambling to pay them off and are hoping that student loans will be forgiven. Unfortunately, this creates a big opportunity for scammers to exploit students. Here's how you can avoid getting scammed regarding student loans.
Links:
- Worried you've been scammed? Contact any of these agencies for help: US Department of Education, Federal Trade Commission, and the Consumer Financial Protection Bureau
- Get identity protection with Triangle's Better Checking account for affordable fraud monitoring and resolution services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you have student loans, here's what you need to know about student loan forgiveness scams. They are prevalent, especially with student loan forgiveness in the news. The scam can come in different forms of delivery, with phone calls, text messages, and emails being the most common.
Here are some tips to spot a student loan forgiveness scam. First, look out for aggressive advertising language. For example, if the message you received wants you to act immediately or if your account has been flagged for investigation, it most likely isn't legitimate. The U.S. Department of Education says that while they might reach out to highlight temporary programs, they wouldn't use aggressive advertising language.
Another way to spot a student loan forgiveness scam is if it seems too good to be true; it probably is. Some scammers will ask for an up-front or monthly payment while promising immediate student loan cancelation. Most government forgiveness programs require years of qualifying payments and/or employment in a specific field to qualify for student loan forgiveness.
One common way to spot a student loan forgiveness scam is if they ask for your login information. The U.S. Department of Education has stated that they and their partners will never ask for this information.
If you are unsure if the message you received is legitimate, check who sent it to you. Scammers can easily spoof messages to look like they are sent from an official source, but making sure is essential. Studentaid.gov has some helpful resources that include a list of email addresses and phone numbers that they use, as well as their trusted loan servicers.
If you think you have been scammed, there are several options you can take. You can contact your federal loan servicer to ensure there was no unwanted activity on your loans. You can contact your financial institution to stop all payments to the company you think is scamming you. You can also submit a complaint to the U.S. Department of Education, the Federal Trade Commission, and the Consumer Financial Protection Bureau.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Financial Planning can be intimidating and often confusing for anyone new to putting together a sound financial strategy. But if you want to be successful with your money, it's important to know your financials and even better to have someone available to support you along your journey.
In this episode, we're chatting with Brian Luce from Triangle Financial Group about what a financial plan is, why it's important to have one, and how his team can help you get started.
Links:
- Check out Triangle Financial Group resources at trianglefinancialgroup.com
- Contact Brian and his team to get started building your financial plan
- Try out the Financial Wellness Assessment
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Your credit score is essential. It drives your financial opportunities and impacts how good a rate you’ll get for mortgages, personal loans, and auto loans.
Most of us know about our credit score and are likely looking for ways to improve it, so knowing what impacts it the most is the first step in improving our credit outlook.
Links:
- View the Investopedia article
- Get started with LoanPay and make a payment today!
- Watch these video tutorials on
- Setting Up Your LoanPay Account
- Setting up AutoPay
- Making a One Time Payment
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’ve followed our previous episodes or read any of our articles, you probably already know that a credit score is determined by several different factors.
In order to keep your score in good shape, it’s critical to understand the different factors contributing to that number and how to maintain them properly.
A lot of this maintenance is our responsibility, so when we decide to work with a lender to borrow money, we should make sure our credit scores have been properly attended to.
According to Investopedia, all three bureaus, Experian, Equifax, and TransUnion, factor the following weights into their credit scores.
The two lowest percentages are each weighted at 10% and are 1) any new credit you get and 2) the types of credit you have or credit mix.
Then there’s the length of your credit history, weighted at 15%.
The total amount owed is a higher weighted factor at 30%. Finally, your payment history comes in as the highest factor at 35%.
So, if you want to properly nurture your credit score, you need to pay attention to each of these categories and keep special note of the higher-weighted ones. Most importantly, you need to ensure you make your payments on time.
Have you or someone you know missed payments in the past? If so, that likely impacted the credit score.
I’ve missed a few payments before because I got busy in life, and my distracted brain completely forgot that a payment was coming due. Then, the due date came and went before I realized that I had forgotten to pay. This is a big problem and something we need to be on guard against. Something as simple as not paying attention to the calendar can cause this problem.
If you’ve had this happen in your own experience, or you know someone it’s impacted, it’s important to note how it can affect you. And the real danger here is the price you pay for it. Not only do you get charged late fees, but it gets reported back to the bureaus and factored into your credit score.
If you find you’re struggling to remember to make your payments, there is something you can do about it to make sure it doesn’t happen again. Take the time to set up automatic payments. Your financial institution likely provides a tool within mobile or online banking to schedule recurring loan payments. For example, Triangle Credit Union allows members to do so through the LoanPay platform. This tool lets people plan their loan payments in advance, customize the payment amount, set a payment frequency, and even set the duration they want the payments to run.
If you’re determined to not let your score suffer from hits due to missed payments, then take a few minutes and set up autopay for payment peace of mind and a healthy credit score.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Are you often worried or discouraged about economic factors or current events? Not surprisingly, current events can substantially impact how we behave with money.
Many people react to news or events with coping mechanisms, one of which involves overspending. Fortunately, there are ways to keep current events from impacting your mindset and, ultimately, your money.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you've heard of Doom Scrolling, the term describes when people mindlessly scroll through newsfeeds and social media feeds, glued to negative headlines. It tends to evoke feelings of anxiety or depression.
Another term has popped up recently describing a similar phenomenon called Doom Spending. This term describes a person's tendency to mindlessly spend money to cope with stress or anxiety, particularly stress or anxiety due to current events or economic factors. It's a type of emotional spending or even retail therapy. And because so many shopping apps make it easy to scroll through thousands of items, many people may run to those apps to scroll through products and shop for all kinds of things to offset negative feelings.
Doom Spending poses many problems for those who fall into it. It's dangerous and can wreak havoc on your finances by derailing your financial plan and interfering with your ability to establish beneficial money habits.
It can also cause you to make financial decisions you may regret in the future, as well as missing out on wealth-building opportunities as they arise.
If you're susceptible to Doom Spending, you may find yourself shopping through an endless scroll and blowing a bunch of money to help you feel better.
Remember that your feelings start with what you choose to focus on. Don't focus on all the negative. Remember that headlines tend to be sensationalized and promote what will most likely get a reaction out of you. Scientifically, headlines with negative messaging get more engagement than those with positive messaging.
If you're engaging in doom spending to cope with stress, here are a few things you can do to guard against it.
Change your routine. If you're scrolling most often at a particular time of day, say late at night before bed or on your way home from work, you might find that this is the time you feel more likely to spend. Turn off the media and take a break from your phone. Keep it away from the nightstand, or swap it with a book instead. If you spend too much time on the couch with your phone or in front of the TV, try taking a walk instead to get away from the devices.
Develop a method to stay on top of spending. Take charge of your money. Set a budget, make a list on paper or your phone, or use a money management app to track your weekly spending. Knowing how much you're spending is the first step to taking charge of your finances. If you don't know it, you can't control it, and you won't succeed at managing it properly.
Put your mental energy into reaching financial milestones. Part of the reason people spend money mindlessly is to feel better. But you can also get those feelings when you achieve milestones. Set a savings goal for yourself, like saving your first $1,000 in an account, having a certain amount of money in a retirement account, or paying off some debt. Focus on building a solid financial position rather than slipping into doom spending.
Budget some of that money for positive purposes. Cut down on impulsive behavior and mindless shopping by planning to spend your money on beneficial things. If you're feeling anxious and emotionally worn, then put some of that money into things that will help bring you mental rest. Instead of spending it on the accumulation of stuff, set some money aside for a unique experience or leisure event that will help you refresh mentally and take some of the emotional burden off your mind.
Make it more of a challenge to spend money. Creating barriers to spending might be needed to stop mindless spending. Saved payment information, shopping apps on phones, and notifications are all designed to tempt you to spend and to spend quickly. Setting up a barrier to spending is an easy way to reduce doom spending. Barriers interfere with the purchasing process, making it more challenging to spend. Remove saved payment information in checkouts, turn off shopping notifications, and even uninstall shopping apps from your phone if they're tempting you too much.
Letting external circumstances drive your money habits can be unproductive and dangerous to your financial health. We hope some of these tips will help you avoid doom spending and empower you to succeed financially.
If you are facing a financial crisis due to an economic issue, seek advice from a financial professional who can help you adjust according to the situation. Their expertise and experience will provide proper guidance to navigate many situations.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Buying a vehicle is one of the most significant purchases you'll make, so ensuring it's protected is very important.
Guaranteed Asset Protection coverage, or GAP, and Mechanical Repair Coverage, also referred to as MRC, are essential in protecting your new vehicle. Keep listening to learn more about these coverages and how to make them work for you.
Links:
- Learn more about the benefits of GAP coverage and MRC
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
First, let's take a look at GAP coverage. Did you know a newly purchased vehicle depreciates the second you drive it off the dealer's lot? Within the first year, most cars will lose up to 20% of their value. If your vehicle is totaled in an accident or stolen and not recovered, you could end up owing more than the vehicle is worth.
GAP coverage is designed to reduce or eliminate the difference between the insurance settlement and the loan balance. This protection can save you tons of money from sudden out-of-pocket expenses. In comparison, standard auto insurance will only pay up to the value of your vehicle. GAP coverage will protect you from the difference.
So, how do you obtain GAP coverage? There are several options. First, you can sign up for GAP when you purchase your new vehicle with an auto loan. Triangle Credit Union offers GAP coverage as an additional option to their auto loans. Second, your auto insurance may also offer GAP coverage for your vehicle.
Now, let's look at Mechanical Repair Coverage, or MRC. This coverage can help limit unexpected, covered repairs as your vehicle ages, potentially saving you thousands of dollars in repairs. MRC includes many benefits, such as car rental reimbursement, 24-hour roadside assistance, and car key replacements. It will even cover travel expense reimbursements when a covered breakdown occurs 100 miles or more from your home and your vehicle is held overnight at a repair facility.
With vehicles already being a significant expense, it makes sense to be fully covered in case something goes wrong. GAP coverage and MRC can save you thousands of dollars, so if you're thinking about buying a car, you might want to consider getting one or both. Luckily, they're available as add-on options for your new or existing auto loan from Triangle Credit Union!
One final note. GAP and MRC are also available to purchase out of pocket for those who don’t have a Triangle auto loan or don’t want it as a loan add-on. If you want this valuable coverage for an existing loan, stop by your nearest branch to get started!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
When it comes to money, there are so many ways to learn vital lessons and techniques that help us make wiser financial decisions.
Whether you're someone who likes to learn about financial topics for fun or tends to learn from experience, becoming financially literate is a goal most of us should strive for. In this episode, we're discussing financial literacy and its crucial role in our lives and society.
Links:
- Financial literacy stats sourced from this article.
- Test your knowledge with the Investopedia Financial Literacy Quiz!
- Explore and download our When Dollars Make Sense workbook for kids!
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Financial Literacy Quiz answers:
-
- Which of these is NOT part of determining your credit score? Marital Status
- When you invest in an employer's traditional 401(k) retirement savings plan, your contributions are taxed when you withdraw them during retirement.
- What causes inflation? Increases in wages, price of raw materials, taxes, and/or a decrease in productivity
- Which of these is NOT a stock market index? New York Stock Exchange
- What Does Annual Percentage Rate (APR) Mean? APR is the rate you pay in interest on money borrowed.
- True or false: Annual Percentage Yield (APY) is the interest you earn over the course of a full year on money deposited. True
- Which home loan allows first-time homebuyers to put down just 3.5%? Federal Housing Administration (FHA) mortgage
Car buying is a fun and exciting journey. You have a lot of options to explore and decisions to make.
Of all the many factors considered when purchasing a new or used car, determining how much to put down is an important decision that affects all aspects of the financing process.
Links:
- Check out Triangle's competitive auto rates for new purchase or refinance.
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to purchasing a car, one of the critical decisions you’ll face is how much to put down as a downpayment. Whether you’re eyeing a brand-new model or considering a reliable used car, understanding the significance of down payments can help you make an informed choice. In this tip, we’ll explore why down payments matter and provide practical tips for finding the right balance.
Why is the amount of your down payment important?
First, it can lower your interest rates: A substantial down payment can significantly impact the interest rate on your auto loan. Lenders view a larger down payment as a sign of financial stability and are more likely to offer you a favorable rate. Lower interest rates mean less money paid over the life of the loan.
Second, it can reduce your monthly payments: By putting more money down upfront, you decrease the amount you need to finance. As a result, your monthly payments become more manageable. This financial breathing room can be especially helpful if you’re on a tight budget.
Third, it helps you avoid negative equity: Negative equity occurs when you owe more on your car loan than the vehicle is worth. A sizable down payment helps prevent this situation. Since cars depreciate rapidly, starting with equity can protect you from being “upside down” in your loan.
Fourth, it improves your loan approval odds: If you have less-than-perfect credit, a substantial down payment can enhance your chances of loan approval. Lenders may be more willing to overlook credit issues when they see a significant upfront investment.
If you’re wondering how much of a downpayment is ideal, there are some recommended down payment percentages for new and used vehicles.
When purchasing a new car, it’s wise to aim for a down payment of at least 20% of the purchase price.
- You’re likely to get better rates. With 20% down, lenders are more likely to offer competitive interest rates.
- It provides an equity cushion. Starting with equity provides a buffer against depreciation.
- It can help lower your monthly payments. A smaller loan amount means you’ll pay less every month.
When purchasing a used car, a down payment of 10% is a good starting point.
- It helps with affordability. Used cars are generally less expensive, so a smaller down payment still provides a reasonable equity cushion.
- It helps save on interest. Even with 10%, you’ll likely secure better rates than with no down payment.
- It helps you avoid negative equity. Starting with some equity helps protect against depreciation.
While the recommended percentages are helpful, the best down payment is one that aligns with your financial situation. If you’re trying to determine how much to put down on your auto purchase, consider the following steps.
- Assess Your Budget: Calculate how much you can comfortably afford without straining your finances. Remember that a down payment is just one part of the overall cost of car ownership.
- Evaluate Your Savings: Look at your savings and determine how much you can allocate toward the down payment. If you don’t have a much as you like, set up a dedicated savings account to build up those funds specifically for the car purchase.
- Factor in Trade-Ins: If you’re trading in your current vehicle, its value can contribute to your down payment. Get an appraisal to know its worth.
- Shop Around for Loans: Compare loan terms and interest rates from different lenders. Some may offer flexibility based on your down payment amount.
In the world of car buying, down payments play a crucial role. They affect interest rates, monthly payments, and your overall financial well-being. Whether you’re eyeing a sleek sedan or a rugged SUV, take the time to assess your budget, explore financing options, and find the right balance for your down payment. Remember, a well-thought-out down payment can set you on the path to a successful car ownership experience.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Building sound money habits at a young age can set you up for financial success through the rest of your life. Fortunately, there are many resources available to help young people learn and build financial skills that are also fun and rewarding.
Links:
- Explore Visa's Practical Money Skills website
- Financial guide book: How to Money: Your Ultimate Guide to the Basics of Finance
- Learn about investing with The Stock Market Game
- Explore financial resources for every age at MyMoney.gov
- Learn more about Triangle's Teen Club account with debit card!
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial literacy is important for people of any age. Without a fundamental understanding of money, it’s difficult to build effective habits that will last throughout the many different stages of life.
The earlier in life people learn about and practice important money skills, the better.
Teens are right at the point where money habits start to become relevant and important. They’re likely to get their first job, buy their first car and enjoy their growing independence. Their access to money provides them with the ability to spend more on what they want and need in life. But even though they may have money coming in, they may not know where to look for help when managing their finances.
According to a 2021 Greenlight survey, 74% of teens surveyed said they didn’t feel confident in their personal financial knowledge and 73% wanted more financial education.
The challenge for most people at any age is to find the right resources that provide effective education and training.
If you’re a teen or maybe a parent of a teen looking for some ways to encourage and build financial skills, here are 5 resources that can help your teen learn about money.
- The first one is the website called Practical Money Skills hosted by VISA. It’s designed to teach people of all ages about financial education and covers topics such as credit, banking, debt, identity theft, budgeting and more. It also offers a collection of activities, tools and videos for teens to explore as well as a variety of money games designed for different age ranges.
- The second is to use a financial guide. If your teen enjoys reading, you can check out the book How to Money: Your Ultimate Guide to the Basics of Finance. This book was listed on Investopedia as the best overall money book for teens. It’s a useful beginner’s guide to most money topics that teens can start to explore like starting your first budget, navigating student loans and scoring your first job. It’s also available as an audiobook, so if your teen isn’t much of a physical reader, they can still explore the material from their phone or computer.
- For investment education, the third resource is to try The Stock Market Game. If your teen is interested in the stock market, or you want them to learn more about the stock market, to gain experience or understand it a bit more, there’s a fun tool to explore the ins and outs of the market without using real money. This is an online trading simulator, set up as a game, that builds familiarity with how the stock market works to help you build confidence in investing. It’s designed to be fun and once you set up an account, it provides fake money that you’ll use to try your trading strategies.
- If your teen likes practical, hands-on tools like checklists, calculators and other resources, then check out this fourth resource, MyMoney.gov. It’s managed by the Financial Literacy and Education Commission and provides an abundance of Youth Resources specifically designed for young people ranging from young children to highschoolers. If your child or teen likes to explore games, there a many on this site to explore. It also links to the CFPB (Consumer Financial Protection Bureau) website for access to even more resources for children and parents targeted by different age ranges.
- The fifth resource for teens is to use a teen checking account and debit card. What good is all the money management knowledge and financial literacy tools if there’s no way to put it all into practice? If your teen is starting to make some money, it’s time to get them experienced with a debit card and checking account. This simple tool opens the door to all kinds of financial possibilities so they can practice all the lessons they’ve been learning like depositing money, tracking spending, making payments, and managing a budget. Teens also gain access to mobile banking apps and other online banking tools that they can use to set goals, budget and track spending. Check out Triangle’s Teen club account to learn more about the helpful financial benefits teens get with membership, including their own debit card.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
A library card opens the door to a vast world of free resources, from books and e-books to movies and educational courses, eliminating the need to spend on entertainment and learning materials. In this tip, we share the many benefits library cards may offer, some of which might surprise you.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you're searching for ways to save money on things you use every day, look to your local library. Having a library card offers more benefits than just access to books. A library card is a simple way to access digital learning platforms, streaming services, and other surprising benefits.
Note that the breadth of services offered varies by library, but don't hesitate to look because you'll likely find something worth signing up for.
Here are some free platforms and tools your library card might provide access to.
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eBooks and audiobooks. Most library cards provide access to a database of eBooks and audiobooks for the many people who prefer to read with an e-reader or listen to their books.
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Museum passes and attractions. Libraries often provide discounts on tickets or even free passes to local museums and attractions.
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Online learning platforms. Many library cards offer access to online education platforms, where users can explore all kinds of training courses, craft tutorials, and even language learning.
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Genealogy research. Explore your heritage without the hefty price tag. With a library card, you may have access to popular ancestry platforms to explore genealogy records and family history databases.
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Home improvement and DIY tools. Some library cards allow users to borrow tools and equipment for home improvement and other DIY projects.
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Cameras and electronics. Your library card may provide access to cameras, tablets, and other electronic items for digital projects.
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Streaming services. Many libraries offer access to streaming services and other online entertainment platforms to watch movies and TV shows and even view recorded stage performances and concerts.
A library card is an excellent resource for accessing unique and valuable resources at low or no cost. It's a ticket that enables you to connect with your community by providing access to opportunities and many resources for enrichment, relaxation, and personal growth.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org, and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
We're at the beginning of a new season, the perfect time to establish a new habit or plan for the coming months. If you need a few ideas for some money-saving tips this season, we have some for you to try out.
Links:
- Try one of these savings challenges for a fun way to track and save money
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Spring is a time of refresh and renewal, with many using this season as a springboard for new goals and intentions for the coming year.
There are many areas in our lives where renewal is needed and welcomed. If you're ready to say goodbye to winter's long, stale season, it's time to welcome the refreshing and energizing season of spring. Like many areas of our lives, our money habits can also become stale. Here are a few strategies to refresh your finances.
1 Try a financial challenge to test your discipline and meet a goal.
- To save extra bucks over the next few months, try a savings challenge, such as the 100-envelope challenge, the five-dollar challenge, or even a nickel challenge.
- Challenge yourself to a new financial habit. Try a no-spend month, where you don't spend any excess money for 30 days. Maybe take a break from online shopping for a few weeks. If you're brave, try to avoid using your credit cards for a month and pay with only a debit card or cash.
2 Try spring cleaning your devices.
- Clean out your email inboxes. If you get an overabundance of emails trying to get you to shop for their latest styles or products, give yourself a break and unsubscribe. If you're like me, you get multiple emails daily from companies offering new deals or discounts designed to get you to purchase. Go through and unsubscribe to stop getting those tempting messages pressuring you to shop.
- Go through your phone and uninstall shopping apps that you find yourself scrolling through to stave off boredom. Also, turn off push notifications to reduce the temptation to spend money.
3 Set up a time for a monthly financial check-in
- Set up a time once a month to review your finances and budget.
- Take time to determine how much money you're bringing in.
- Take note and track how much money you spent over the last month on food, activities, and other expenses.
- The closer you pay attention to your income and expenses, the better control you can adjust as needed.
4 Take time to shop around for better pricing.
- Take note of everything you're paying regularly, such as your cell phone bill, internet bill, insurance, and streaming subscriptions.
- Take note of how much you're currently paying for each item, and then explore other providers or vendors and compare pricing.
- When you're ready, reach out to your existing provider to try and negotiate a better price for your existing plan. They may offer an adjustment to lower the bill to keep your business.
If you're ready to refresh your finances this season, there are many ways to get started. Try a few or all of these ideas to start your spring off motivated and ready to rock!
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
You may have heard that a popular fast-food chain wound up in some hot water a few weeks ago over rumors they were planning to implement surge pricing on their menus.
For obvious reasons, people were upset because they didn’t want to see hikes in even more prices. But were the rumors true, and is this pricing structure something we’ll see more of in the future?
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you happened to pick up on the recent news story, Wendy’s received some backlash over a rumor that they were planning to implement surge pricing.
Although the restaurant responded by saying the rumors were false and the message misconstrued, the topic brings forth an even greater discussion about what surge pricing is and how it affects us as customers.
So, what is surge pricing, and what does it mean for your money and spending habits?
Surge pricing, sometimes referred to as dynamic pricing, is when a business changes the prices of their goods and services depending on the measure of demand during certain periods of time or due to certain factors.
Even if you’re not familiar with this pricing structure, you’ve likely experienced it in your own life. It’s not new. The growing debate about it now is whether we’ll start to see it more frequently.
Some examples of surge pricing you’ll recognize are:
- Historically, airlines and hotels. It’s commonly known that companies in these industries raise prices during popular travel times like weekends and holidays.
- You’ve likely seen it at movie theaters. Ticket prices tend to be higher on the weekends to accommodate for the larger crowds than during the slower days of the midweek.
- Most recently ride share companies like Uber and Lyft. If you’ve used either of these apps, you’ll notice at times when you’re looking to book a ride that they’ll charge more for rides during bad weather or other periods of high demand.
Surge pricing affects customers and even potential customers because it ultimately means you’ll pay more for items or services during certain time windows. If you’re looking to book a trip to New York City for New Years Eve, you’ll likely be paying more for your travel and lodging than if it were just a random weekend in the middle of the year.
Much of this is out of our control and we don’t have a lot of influence over what businesses charge for their products or services, but there are a few things we can do to minimize the effect surge pricing can have on our spending.
First, awareness is key. Knowing when prices are higher is the first step to avoid paying the maximum price for a good or service. Pay attention to when the prices are the highest and try to plan around it. If it means rescheduling that vacation to a different time of year or choosing to fly a different day of the week, it may be worth considering to save yourself some cash.
Set up notifications for price drops or specific discounts that might land you a better deal. This can come in handy particularly on hotel rooms or plane tickets. You can also try using price comparison apps and tools to take a few moments to review pricing from different companies before making a purchase.
And of course, consider doing business with different service providers or businesses. If you’re no longer happy with the prices for the service, there may be another one out there you can take your business to.
A debate over surge pricing is starting to grow with some arguing that it will soon be the future of pricing and that we might start seeing it pop up all over the place.
Many argue that as businesses adopt newer technology and particularly AI tools that they’re more likely to use those tools to introduce payment structures with greater flexibility. Their pricing could be more in tune with changes in their industries allowing them to swiftly adapt in real time.
Much of this is conjecture and may still be far off in the realm of science fiction but as for now, we’ll just have to keep an eye out for shifting prices on the goods and services we use every day, reworking our budgets throughout the process.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Arguments are common in relationships, especially when it comes to finances. If you're tired of bickering about money with your spouse or partner, then keep listening.
In this episode, we discuss a few reasons why couples often fight over money, and we'll share some specific ways you can work together to reach common financial ground.
Links:
- Check out any upcoming webinars for budgeting and debt reduction strategies or watch on demand on our YouTube playlist
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
How satisfied are you with your overall financial health? When was the last time you even checked it? If you’re not sure where you stand financially, assessing your existing financial situation is an important place to start.
Stay tuned to learn more about the steps you can take to improve your financial health and wealth.
Links:
- Triangle's Financial Assessment tool
- Check out our Budgeting 101 webinar
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
This is Money Tip Tuesday from the Making Money Personal podcast.
According to research with online financial experts, the beginning of a new year is the perfect time to assess your financial health and future. Many people recommend doing an assessment right at the beginning of the year because it’s a pivotal time to start fresh. But if you feel a bit behind because you haven’t done it yet, the good news is that there is no bad time to do a financial assessment.
So, where should someone start with a financial assessment? Here are a few steps to take to get started.
The first step in a full financial assessment is your monthly spending. Does your income meet or exceed your expenses? How will know if you don’t do a budget! To learn more about budgeting, we encourage you to check out our YouTube channel for our Budgeting 101 webinar. This webinar provides all the information you’ll need to start a budget, including a dynamic Excel spreadsheet that is easy to navigate and fun to use.
Second, we recommend looking at your income. How much did you earn last year? Is your salary in line with and competitive with similar jobs in your area? If not, a candid conversation with your employer may be in order. As you prepare for this discussion, make sure you do your research and provide collaborating documentation for your presentation. While this type of meeting may be uncomfortable for you and your employer, more employees are sharing their concerns and salary information—not to be negative, but to stay competitive.
Third, make sure your financial checkup includes a credit check. You can access your credit report for free through annualcreditreport.com. Examine your report closely to ensure there are no discrepancies, especially credit card balances. Identity theft often starts with credit card fraud, so your close examination can guard against fraudulent activity.
Last, assess your financial progress with savings goals, wealth-building investments, and retirement. Triangle offers a variety of financial planning tools including a new financial wellness assessment tool that provides an immediate snapshot of your shortcomings and recommend steps to improve them. This assessment takes less than 5 minutes, but the outcome is worth it! Check it out at trianglecu.org.
A solid financial position is essential for a healthy and secure future. An annual assessment can help you make intelligent decisions about your financial health today and prepare you for a wealthy tomorrow.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Being healthy should always be a priority, and taking care of yourself is very important. However, things happen, and you may become sick or injure yourself.
Healthcare, which many need, can often be expensive and even unaffordable to some. Here are some ways to save on healthcare.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re looking for ways to save on healthcare, we have tips for you!
First, choose a healthcare plan that works for you. Low-deductible plans have higher monthly premiums but will cover more of your health costs. This plan suits those with health issues who need regular care. High-deductible plans have lower monthly premiums, but you must pay more out of pocket. This plan is suitable for those who rarely need medical care. If you have a high-deductible healthcare plan, you should enroll in a Health Savings Account, or HSA for short. HSAs are great for saving money for medical expenses, medical bills, and higher deductibles and any money you contribute to an HSA are tax deductible, or if made through payroll deductions, are pretax which lowers your overall taxable income. Ans your funds grow tax free in the HSA. When you need to make a withdrawal, if it is used to pay for a medical or dental expense (as dictated by IRS rules), you will not pay taxes on that money.
The HSA limit for 2024 is $4,150 for individuals, and families can contribute up to $8,300.
HSA is a great way to reduce your tax base and it covers expenses in your high deductible health plan. For example, our medical plan has a $2,500 individual deductible annually. Rather than paying a high premium, I personally would rather put the money I pay in premium into an HSA and use a high deductible plan.
Second, check your past usage of your healthcare plan. If you are using it sparingly, you're most likely over-insured. If you're paying more out of pocket, you're underinsured. If you have medical insurance through your employer, check with your HR or Benefits Administration Department – they should be able to offer some advice in this area.
Third, if possible, only go to healthcare providers covered by your health coverage. Choosing healthcare providers who are in-network is cheaper than selecting those who aren't in-network. This is because in-network providers have a contract with your health plan and can charge you lower rates.
Fourth, if you take medications, there are a few ways to save money on your next prescription. If you're taking a name-brand drug, ask your healthcare provider if you can switch to a generic. Generic drugs should have the same ingredients but at a lesser cost. You can also ask your healthcare provider if a less expensive medication can treat you.
Fifth, if you have a procedure, ask your healthcare provider if you can do it at an outpatient surgical center rather than a hospital. Outpatient clinics are typically 45 to 60 percent less expensive than a hospital. This is because outpatients are smaller businesses with less overhead and are generally cheaper to run. Also, you typically won't be spending the night and will only be there for the day, substantially cutting the cost of being in a hospital.
Lastly, participate in preventative care. Eating well and exercising will make you healthier and less likely to become ill. If you are sick, the doctor will likely catch it before it becomes too severe.
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.
Thanks for listening to today's Money Tip Tuesday. Be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How do you know it’s the right time to buy a new car? Are there signs to recognize the need for an upgrade or replacement? If you’re on the fence about whether to start looking for a new car, there are a few things to consider first before jumping into the process.
Links:
- View the Consumer Reports article for more information
- Check your car’s value with Kelley Blue Book
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To buy or not to buy. That is the question.
Most of us have a car. We use our cars every day. For many people, it seems they’re getting a new car every other year. But for others, determining the right time to replace an existing car can be challenging. Have you been mulling over it for a while or rather lured into it by that recent commercial for a brand-new luxury model?
If we want to make the right decision when it comes to buying a new car, it’s important to make sure we’re making it from a reasonable perspective rather than an emotional perspective.
How do you know it’s time? What are some of the signs you’re ready for a trade in? According to an article by Consumer Reports, there are a few reasons why someone might start their search for a new car. These are: you want to save money, you’re concerned about safety, or you want more features in general.
We’ll start with the first one, Saving money:
Cars always cost something to run. You’ll pay for fuel, maintenance, repairs and insurance – the list can keep going. Is your car getting too expensive for you? Are you dishing out hundreds or thousands of dollars for repairs every year? This might be the time to consider trading it in.
But is paying the price of a new car worth trading in the existing one? The sticker price of a car is in the tens of thousands where repairs could be in the hundreds, maybe thousands. Do the math, compare your car’s value by checking Kelley Blue book .com and compare that with the amount of money you’ve been spending in repairs.
If the value of the car is less than the amount of money it’ll cost to repair, then it’s most likely time for a trade in. If the car is only in need of low-level repairs or maintenance that doesn’t cost too much or you could even do yourself, then it may be wise to keep it around for a few more years.
The second one to address is if there are concerns about safety.
If the car can’t get you reliably from point A to point B then it’s time to start looking for a new one. But even if an older model is still reliable, it’s also important to review the quality of the safety features of that car.
Newer models have upgraded safety features like blind spot alerts, backup cameras, refined airbag technology, frame design, and braking systems with improved capabilities to keep passengers safe. Older models lacking those designs might not be as trustworthy in accidents or situations.
Consider the safety of your existing vehicle to determine whether it’s still meeting all the safety needs of your family. If safety is important to you, then upgrading to a newer car may give you better peace of mind because you’ll know your car is equipped to protect everyone traveling in it.
The third reason you may consider a new car is just for more features in general:
Older vehicles provided many things that seemed cutting edge back in the day but have now pretty much gone obsolete. Today, there may still be an occasional car with crank windows, a cassette player and even an ash tray.
But many of today’s drivers have no need for those features and are now interested in other things like new GPS capabilities, voice commands, built-in navigation, and other automatic features. As new models roll out, manufacturers are adding newer and more sophisticated technology to improve the driving experience.
If you like the idea of heated seats because you’re driving to work at 3:30 am on a snowy morning, a newer vehicle will have just what you need. Some people are okay driving with older features and foregoing the new tech for a bit to save some money, but if after a while you find you’re in need of some more improved tech, then it may be time to trade in.
To wrap up, determining why you want a new car in the first place helps provide better insight into whether it’s the right time to start the process or to wait for a little bit.
If you have made the decision to find a new car, or a new to you car, we’ve got you covered. Check out our competitive rates and get preapproved at trianglecu.org to head confidently to the dealer when you’re ready to buy.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Identity theft can be expensive. It costs you not only time to fix, but money and resources too. When it comes to keeping your information secure, even the newest technology still has weaknesses, and it’s up to you to stay aware of what those weaknesses are.
Links:
- Learn more about KnowBe4 Security Awareness
- Protect your identity with Triangle's Better Checking account with IDProtect
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
This tip comes from an article provided by KnowBe4 Security Awareness and training.
We’re going to explore the future of connected devices, how these devices may impact cybersecurity, and what you can do to stay safe.
New innovations in technology are being developed at a rapid rate. But new technology comes with new risks. Let's go over some examples of how technology will change in the future and ways you can stay safe.
5G Cellular Networks
You may think a cellular network is only used for cell phones, but it can also be used for GPS devices, wifi hotspots, logistics tracking, and more. 5G stands for the fifth generation of cellular networking. In short, 5G is a dramatically faster and more stable way to connect to the internet.
While this is great for connectivity, it could be a major struggle for cybersecurity. Current security monitoring methods may not be strong enough for the speed and amount of traffic created on a 5G network.
The Internet of Things
The Internet of Things, or IoT, is a network of connected devices designed to work together using an internet connection. A common example of this is the use of “smart” devices in the home. Smart devices connect and communicate with one another using your wifi network. IoT is being used and developed across a number of industries, from healthcare to logistics.
Each device within an IoT network is a potential risk. As more devices are connected to one another, an organization’s attack surface grows. Meaning, there are more targets for cybercriminals to attack and more points of entry to protect. As these networks grow, it is essential that cybersecurity measures grow with them.
Safety Tips for Now and Later
- Stay Informed
No matter what the future holds, it is always harder to fool an educated person. Follow trusted news and media outlets for the latest updates in technology and cybersecurity.
- Be Suspicious
As technology changes, cybercriminals will find new ways to attack. If something doesn’t look or feel right, report it. It is better to be safe than sorry!
- Time Travel to the Past
Maybe technology isn’t quite there yet, but you can use classic communication to outsmart cybercriminals. For example, if you receive a suspicious email, reach out to the sender by phone to verify that it’s legitimate.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Debt is a familiar burden most Americans face daily. Whether the debts are small or large, many are becoming fed up and joining a movement to pay off debt and reach financial freedom.
If you’re one of those looking for a way out of debt, it’s time to put together a debt payoff strategy to set you up for success.
Links:
- Get your budgeting tools on our TCU University resources page
- Watch our pre-recorded financial freedom webinar for a more in-depth explanation of this debt payoff plan
- Check out our upcoming events for new webinars and workshops
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Getting out of debt can be overwhelming. Staring at a large number, wondering how in the world you’ll be able to pay it off, is enough to make anyone want to give up and say, “Never mind.”
But debt and the burden it brings does not have to haunt you forever.
With a simple, five-point plan, you can tackle that debt burden and finally get onto a path that will eliminate it forever. This plan breaks the debt payoff journey down into manageable, actionable steps to stay on track to meeting your goal.
Step one: Acknowledging you have a problem
Debt is no different than any other personal challenge we face. Once we determine the problem affecting us, then we get the resolve to do something about it. Is your debt affecting your mood? Your relationships? Your health? If you answered yes to any of these questions, it’s a burden in your life that has to go. Be honest about where you are now and where you want to be.
Acknowledge all your debts. Then list them all from credit cards, personal loans, student loans, medical bills, car payments, everything. With it all out front and visible, it’ll be easier to assess how much work you’ll need to put in to pay it off. With the debt problem illuminated, it’s time to move to the next step.
Step two: Resolve to do something about it
This step is where you take ownership. You’ve admitted you have a debt problem, and now it’s time to do something about it.
This step involves finding all the information needed for a proper strategy. Seek out resources that provide education and insight into solving your problem. If that’s a trustworthy friend or professional, a webinar, online course, book, or even blog, take that first step of resolving to commit to this journey.
Step three: Create your plan
This step is all about laying out the strategy you’ll follow, and the very first step in this plan is to create a budget. Know your income and expenses and put them all onto a budget sheet. This process organizes your money into categories so you can see all the money coming in and going out. If you need access to a budget sheet, we’ll link to one in the show notes you can download and use.
Within the budget process, determine to put any extra income towards debt. That means you'll need to pause additional spending on fun and other frivolous things for some time. Put all your remaining money towards that debt pile to reach that debt-free goal sooner.
It’s also essential to choose the order in which you’ll pay your debts off. Many people use one of two popular debt payoff structures for this – the debt avalanche or debt snowball.
The debt avalanche method involves paying off the highest-interest debt first, eventually working down to the lowest-interest debt. The debt snowball consists of tackling the debt with the smallest balance and then working up to paying off the largest balance.
The principles of both plans are the same. Tackle one debt with any extra money while paying the minimum balance on other debts. Once one debt is paid, use that money that you had been paying to pay off debt to the next one—keep doing this same process until all debts are paid off.
Step four: Execute your plan
This step is where the rubber meets the road. It’s time to act upon everything in the plan. Find a trusted person to hold you accountable throughout this process. If you decide to stop using credit cards, this is where you’ll cut them up. Establish your target date to be debt-free. Do you want to be out of debt in a year? Maybe two? This number will differ for everyone depending on the amount of debt and their net income.
If you’re looking to work an extra job or hours, this is the time to start. Start working out your debt reduction plan, whether the debt avalanche or the debt snowball method.
Step five: monitor your results and repeat
This step is the only way to determine if your plan is working. Keep an eye on it and monitor it regularly to stay on top of it.
Print out your sheet or save it somewhere you’ll see it daily. Putting it on a poster is a super effective way to keep it top of mind. Tape it to a bathroom mirror, bedroom mirror, or fridge to keep it visible.
The key is remembering it. You want it to be a daily reminder of the goal you set for yourself.
Check-in on your progress regularly. Weekly, monthly, however frequently you think is best.
With these five steps, you can tackle almost any challenge, debt being one of them.
If you’d like to dive deeper into these steps, check out Triangle’s Paying off Debt webinars, which are available to join live throughout the year or watch them on-demand on our YouTube channel.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Caring for our community has been part of Triangle's DNA since we incorporated 85 years ago. Community means so much that we added it as one of our core values.
Through volunteerism, donations and sponsorships, Triangle supports over 50 charitable organizations that help our communities for those who need a helping hand. Stay tuned to hear from local charities, how they help others, and how you can help with a simple vote in our Share 'Cuz You Care campaign.
Links:
- Learn more about the three organizations featured in the episode:
- Harbor Care, Nashua, NH
- The Upper Room, Derry, NH
- Webster House, Manchester, NH
- Visit our Share 'Cuz You Care campaign page to vote DAILY for the nonprofit you'd like to see win the top donation of $1,000 from Triangle Credit Union.
- Learn about Triangle's financial planning resources
- Check out other financial resources and blogs at TCU University
- View episode transcript.
How often do you talk with your spouse or partner about money? Are you even on the same page when it comes to finances? The truth is, if you’re married or in a serious relationship there are some important financial topics you should discuss.
Links:
- For budgeting resources check out:
- You Need a Budget (YNAB)
- Ramsey Solutions
- Triangle Credit Union webinars
- Learn about Triangle's financial planning resources
- Check out other financial resources and blogs at TCU University
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re in a relationship, there’s a good many things you need to work together on, and finances aren’t any different.
For some people finances are that sort of thing that most don’t want to discuss at all. I mean, it can turn a civilized conversation into a knockout drag out fight.
But, the reality is that some of these topics should be talked about, and for many people, sooner rather than later.
Here are six financial topics couples should discuss:
The first topic couples should discuss is budgeting.
For most couples, particularly married couples, this is a must. The purpose of this is to work together to determine how much you make and where it’s all going every month.
If you’re new to this, get started by watching some videos, attending a webinar, or reading some books. Then, armed with the knowledge of how to properly set up a budget system, take some time, sit down and do your budget. Make it a date. Try ordering takeout or cook a special meal to make it feel more of a fun event rather than a chore.
If you need some help, check out resources like You Need A Budget (YNAB), Ramsey Solutions, and Triangle Credit Union webinars, available to watch on YouTube.
The next topic couples need to discuss is savings and retirement.
Like the last one, this one also applies more to married couples, but for single people however, it might not be a bad idea to get an idea of where your partner stands when it comes to spending. It’ll give you a peek into how compatible you two really are.
When discussing spending, ask each other what you’re saving for, both as a couple and as individuals. Determine whether you have an emergency savings account and how much you’ll need to fully fund it. Having a proper savings plan ensures that your financial future will be secure.
Are you both planning to retire and when? Make sure you’re discussing retirement goals and how working to reach those goals affects your savings rate now. If you’re going to build your financial future together, you need to give it the best foundation possible by having a healthy emergency fund, good savings habits and a well-planned retirement strategy.
The third thing to discuss is goals.
If you have wishes and goals, your partner likely does too. You need to talk about what those goals are and how they affect your finances in both the near future and distant future.
Start with short term goals. As a couple, do you want to save for a downpayment? How about paying off a credit card? Or perhaps paying down a set portion of your student loans?
When it comes to long term goals, look a little farther out. Depending on where you are in life, do you want to finally own a home? Get completely debt free? Maybe buy a second home? Plan a once in a lifetime vacation?
The best way to achieve goals is by determining where you want to be or what you want to achieve as a couple, laying out the steps you’ll need to get there and work hard and keep focus to meet that goal at its appointed time. Set up a timeline, determine milestones and remember to celebrate once your goal is reached.
The fourth topic to discuss is whether you’ll have separate or joint bank accounts.
If you’re not married, then keeping accounts separate is the better plan.
If you’re married, the typical choice is to combine finances. Though there are many cases where husbands and wives continue to manage their own money, in many ways combining finances and accounts forces you to make the financial decisions together as one household rather than two separate individuals with their own goals.
If you are married and choose to keep your accounts separate, that can work too. Just make sure that you’re both fiscally mature and communicate about everything. Keeping an open conversation about spending, saving and the like will keep the stress down and ensure you’re both still on the same page.
The fifth topic is to discuss what you’ll teach your children when it comes to money.
If you have kids, or plan to have them one day, talk about what you’re going to teach them when it comes to money. Will they have chores? Get an allowance? How much?
Will you teach them how to budget? How old do you think they should be when they get their first job?
You and your spouse should discuss all these questions so you’re both on the same page when it comes to raising your kids in a financially responsible way.
The sixth topic to talk about is Insurance.
For couples, this is definitely not the most exciting topic at all, but it’s important to have this discussion. Because there are so many different types of insurance coverage for a variety of things from houses and cars to pets and identity, you need to talk about which ones would benefit you most as a couple and household.
Insurance costs money, so just because your spouse thinks you need that special coverage doesn’t mean it’s best for you both to dish out the extra money each month. Have a discussion to decide on the most beneficial types of insurance for your lifestyle and select the plans that you can reasonably afford.
If you’re not sure where to start when it comes to insurance, meet with a financial planner who can steer you into the right insurance plans with the proper coverage and premiums for your current financial situation. They’ll also help reassess any existing plans and provide alternate options to keep up with the many changes that can occur in life.
That’s it for this tip with six financial topics couples should discuss.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Building wealth might seem complicated and hard to master, but there’s one financial habit when done effectively, that can put you on a path to building wealth in no time. In this tip, I’m going to share one simple money rule that changed the way I view my paycheck forever.
Links:
- The Richest Man in Babylon by George S. Clason
- Get your dollars earning more for you with CDs, IRAs and Online Savings
- Learn how Triangle's financial professionals can help you set up an investing plan that will build wealth!
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to building wealth, it’s easy to get discouraged when after years we don’t seem to be any farther along than when we first started.
We then jump to conclusions about ourselves with thoughts like, “I don’t make enough”, “I can’t afford to save”, or “I don’t have enough time”.
But surprisingly, building wealth has less to do with how much money you make and has more to do with how much you save.
If you want to be wealthy, if you want to amass a fortune, I’m going to share a brief segment from a little parable you may have never heard before. It comes from the book, “The Richest Man in Babylon” by George S. Clason.
This book was first published in 1926 and it shares important financial principles in the form of parables set during the time of ancient Babylon.
The first parable addresses how your perspective on the money you make and how you choose to use it determines whether you’ll grow wealthy.
Here goes:
Arkad, known to be the richest man in Babylon, started as a humble scribe and now as an older man, owns a legendary fortune that rivaled even the very king.
In the parable, Arkad speaks with a young man who wants to know the secret to building a fortune.
Arkad responded by simply saying, “I found the road to wealth when I decided that a part of all I earned was mine to keep.”
The young man was a bit confused at the short reply and responded, “Is that all? But all I earn is mine to keep.”
Arkad replied, “Far from it. Do you not pay the garment maker? Do you not pay the sandal-maker? Do you not pay for the things you eat?... What have you to show for your earnings of the past month?... You pay to everyone but yourself. You labor for others.”
This first exchange illuminates the reality that much of the money we earn is spent. Much of it goes to bills and necessities as well as other things we desire or want to experience.
Arkad’s first point is important because we need to recognize that when we’re spending money, we’re paying other people and that money isn’t ours to keep.
So what does that leave for us? How can we build wealth if we don’t have any money to build wealth with?
At this point, Arkad continues the lesson by saying, “Every gold piece you save is a slave to work for you. Every copper it earns is its child that also can earn for you. If you would become wealthy, then what you save must earn, and its children must earn...”
Arkad sums his lesson up with this simple message.
“A part of all you earn is yours to keep.... Pay yourself first.”
Arkad’s simple, yet profound advice, though fictional, is a simple strategy to building wealth over time.
When we spend everything we make, we’re contributing to making others rich rather than building our own wealth. We’re paying everyone but ourselves.
Faithfully set aside a portion of your income for yourself every time you get paid.
Then, find a way to get that money to make more money. Use savings accounts like online savings, CDs, IRAs with good interest rates and talk to a financial professional to set up quality investment accounts that will get those dollars earning more in the background.
Before closing I’ll leave this final message from Arkad. He says, “Wealth like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in the contentment beneath its shade.”
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Hunting for a new car doesn’t have to be a hassle. It should be fun and enjoyable. Fortunately, this time of year is a good time to find that perfect car and, with a little advanced planning, score a fantastic deal and a great rate.
Links:
- View auto rates, get pre-approved, and start your search with our AutoSmart tool.
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re in the market for a car, you’ll have a lot of decisions to make. You’re probably hunting through car listings or scoping out nearby dealerships to pop by and maybe take a few cars for a test drive.
But did you know that the process of buying a car starts before you even sit in that driver’s seat?
If you’re ready to take advantage of the upcoming car deals this time of year, you’ll want to take certain steps to make sure you get a great price.
First, establish your budget then go ahead and shop the prices. - Determine your budget by crunching numbers to find an affordable price. Use some online payment calculators to get an idea of how much your monthly payment will be. With your ideal price in mind, start scoping around for good deals.
This time of year, President’s Day is a spectacular deal day, particularly for car buying. It’s usually the first deal weekend of the year for most car sellers so they’re going to be extra eager to share attractive pricing on not only new models but also on popular cars you’ve been dreaming to own.
Before you visit the dealer, scope out the car or cars you’re interested in a few weeks before President’s Day so you can keep an eye on pricing and take advantage of any deals that pop up over President’s Day weekend. Remember to keep that budget in mind.
Second, make sure you know your credit score and check your report. Prepping your credit is an ideal way to set yourself up for getting a great price for the car you want. Your credit eligibility is an important factor to getting the most from these special deals because it largely determines how much you’ll get approved for and at how low a rate.
Review your credit score and report. If you’re not happy with what you see, start taking steps to fix it. Make sure you make all your payments on time and keep any balances well under your credit limits. Doing this will help demonstrate that you’re responsible with your credit and will likely score you a lower rate.
The final thing to getting the car you want at a great price is to get pre-approved BEFORE you head to the dealer.
Whatever your reasons for buying a car, whether it’s your first ride, or you’re ready for an upgrade, if you’re planning to take out a loan for your vehicle, you’ll want to be prepared with the financing that is best for your budget and you do this by pre-qualifying for the loan.
Prequalifying tells the dealer that you’re already set up with financing. It will help you shop with confidence because you already know the amount you’ve been approved for. That confidence also comes in handy when you negotiate pricing with the dealer, because your budget remains fixed due to the pre-approval.
Pre-qualifying can also move the process along much faster because it cuts down on your time spent at the dealership. Once you decide on the vehicle you want, you simply return to the credit union and get your check to complete the purchase.
If you’re wondering how to get pre-approved, it’s pretty straightforward.
You can get started online or stop by your local branch. Once you’re in the system, a representative will get in touch with you to work through the next steps.
Once your preapproval is established, it’s time to shop. When visiting the dealers, inform them that you already have a pre-approval with your credit union. When you’ve selected your vehicle, you’ll then bring the purchase and sales agreement from the dealership back to the credit union to finalize the process.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you ever wanted the convenient experience of an ATM with all the benefits of going into your local credit union branch?
With an Interactive Teller Machine, or ITM for short, you can do anything you’d do at an ATM, plus get access to other features that are usually only available in a branch. Learn how you can make this technology work for you!
Links:
- Watch this video to learn more about ITMs!.
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
An ITM is essentially banking in a box. One of the most convenient features of an ITM is the ability to call for assistance from a live teller. Not a machine or artificial intelligence, the teller is a real person who is ready to help you with all your banking needs. This feature is only available during business hours, so don’t expect to have any late-night chats with your local teller. But if you visit during the available hours, a live teller can video chat with you to help you through your transaction or answer any questions about your accounts.
That’s not all ITMs can do. Like an ATM, ITMs let you deposit and withdraw cash, check account balances, and transfer money. You can also make loan or credit card payments and cash checks at an ITM, which you can’t do at an ATM.
ITMs give you the ability to do almost anything you’d do at the teller line and provide better service through features that ATMs have lacked for years. For example, ATMs are usually limited by set cash denominations with most distributing only $20 bills. With an ITM, you're offered an assortment of denominations to choose from so if you want a $50 bill, or a bunch of $1s, you can select the quantity of each when you take out cash. This can come in handy, especially if you need smaller bills like $5s but don’t have time to run into the branch.
Today, more and more people are doing their banking while on the go. This is where ITMs fit in for those of us living a busy lifestyle. If you’re in a rush, ITMs can sometimes be a quicker alternative to waiting in line at the bank or credit union. If there’s a long line to get to the tellers, just look for the ITM and do your transactions there. Many financial institutions also offer drive-up ITMs, which allows you to use the ITM from the comfort of your vehicle.
With all these features, the ITM truly is banking in a box. An ITM allows you to bank your way, offering the perfect blend of self-service banking and in-person assistance.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram to share your thoughts And remember to look for our sponsor, Triangle Credit Union on Facebook and LinkedIn.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If you don't have a New Year's resolution, we've got one for you. In this episode, we'll be sharing tips on how to take charge of your credit score in 2024.
*For the most accurate and up to date disclosures about the products or services mentioned in this episode, visit our website at trianglecu.org
Links:
- Learn how to check your credit score with Triangle's Better Checking account
- Learn more about Triangle's Teen Club account and the teen builder loan
- Check out more information from this Forbes article about how to improve your credit score
- Check out the credit score simulator from NerdWallet to see how certain adjustments might affect your score
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
We are in a value-added age for consumer products and services, and the financial industry is no exception. Checking accounts, for example, provide many bells and whistles, including identity protection for you and your family. Stay tuned to learn how to protect yourself and your money.
Links:
- Learn more about Triangle's Better Checking account
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
With so many online banking services available today, consumers are no longer relegated to banks or credit unions at the end of the street. How does one decide which financial institution or product is right for them? Often that decision is decided by the value-added benefits of the financial product. As an example, let’s explore the value-added features and benefits of a checking account.
According to one financial blogger, value-added checking can take a standard checking account to new levels and adds a bit of a mission-focus.
At Triangle, our mission is to protect you and your money. For over 85 years, Triangle has maintained the strictest financial safety and soundness standards, so how does our Better Checking account, with IDProtect™, safeguard you and your money?
First, enrollment for identity theft protection is automatic. As soon as you open a Better Checking account, you have protection that covers you and your eligible family members, including elderly parents and dependent children, up to age 25, living in your household.
Second, IDProtect™ provides state-of-the-art detection and monitoring services around the clock. Time is of the essence in discovering identity theft, since the quicker it is discovered, the easier it is to recover from it. Identity monitoring is a critical component in discovering identity theft quickly in order to limit the amount of damage done.
For example, credit reports contain information about you, including what accounts you have and how you pay your bills. If an identity thief is opening credit accounts in your name, these accounts are likely to show up on your credit report. IDProtect’s ™ Credit File Monitoring service alerts you to these key changes.
Monitoring your credit report and score can be a tedious task, but it is imperative to keep a watchful eye out for fraudulent activity. With Better Checking, members rest easy with credit file monitoring and have access to a 3-in-1 credit report every 90 days.
Because lenders use credit scores to determine who qualifies for a loan, the interest rate they’ll get, and the credit limit, it’s important to monitor your credit score and keep track of changes and setbacks.
Third, Better Checking’s IDProtect™ offers recovery and resolution with a dedicated case manager.
Becoming a victim of identity fraud is a frightening, frustrating experience and it can happen to anyone at any time.
IDProtect™ is here to help during such a difficult time. Should you become a victim, a dedicated fraud specialist will be assigned to manage your case. Experienced recovery professionals will handle the recovery process until your identity is completely restored. Plus, IDProtect™ provides identity fraud expense reimbursement to cover expenses associated with restoring your identity.
Triangle Credit Union’s Better Checking, with IDProtect™, is available for those who are 18 and working or residing in the Hillsborough, Merrimack, Belknap, Rockingham, and Cheshire Counties of New Hampshire, as well as the Franklin, Worcester, Middlesex, and Essex Counties of Massachusetts. There is a nominal monthly fee of $4.99.
For a full list of features and value-added benefits, including identity protection for you and your qualifying members of your household, visit trianglecu.org/checking.
If you have any questions about today’s topic or suggestions for future topics, please email us at tcupodcast@trianglecu.org. For more great content, be sure to follow the Making Money Personal podcast wherever you listen to podcasts and the Making Money Personal podcast Facebook page.
Many thanks to our sponsor, Triangle Credit Union, voted Best Credit Union in NH, and to you for tuning in.
Have a great day everyone!
What resolutions have you made this year? Did you decide it’s time to start making some financial changes?
Financial resolutions aren’t for the faint of heart, and if you’re gearing up to make this year one of your best for financial discipline then there’s nothing better than a no-spend challenge to put yourself to the test.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The New Year has finally come and if you’re like many other people you’re likely sitting down to plan out some resolutions. When it comes to resolutions, people often choose to start a new diet or exercise routine while others set financial goals.
One goal you may want to consider participating in is a no-spend challenge.
A no spend challenge can last for a week, a month or even a year!
The purpose of a no spend challenge is to cut back on frivolous spending and have a better grasp of your financial habits.
How does a no spend challenge truly work?
Although the name suggests it, it’s impossible to not spend any money for a whole month.
You need to make sure you have your four walls—food, utilities, shelter, and transportation—covered.
Note: When we say food we mean groceries, not restaurants. Transportation refers to gas, public transportation, or anything else that is necessary to get you where you need to go
Once the four walls are taken care of, you are not allowed to spend money on anything else.
When’s the best time to start a no spend challenge?
This month, January, seems like the best month to start a no spend week or month for a few reasons:
- January follows the holiday shopping season and on average, Americans spend approximately $997.73 on holiday shopping each year. Starting a no spend challenge in January is a great way to let your bank accounts and credit cards breathe a bit.
- You might have received some restaurant or store gift cards over the holiday season that you can use during the challenge. This is essentially free money since it won’t be coming out of your accounts.
- No spend challenges are easier to participate in when the weather is cold or snowy since poor weather conditions typically mean staying indoors, thus you are less tempted to go out and spend money.
How Do You Prepare?
Before you begin this challenge, it’s important to plan out all your meals, snacks, desserts, etc. to ensure they fit into your grocery budget for the duration of the challenge. Be resourceful and take inventory of your pantry, freezer, and fridge, that way you know exactly what you have.
To help yourself with online shopping, delete all shopping apps (Target, Amazon, Walmart, etc.) from your mobile devices. It may also be helpful to set up a filter on your email that will send marketing emails to a hidden email folder, that way you aren’t tempted to shop those deals.
One of the benefits of a no spend challenge is the money you save. Write down your plan for those saved funds. This will serve as a reminder and a motivator of your goals if you struggle during the challenge.
Obviously, if an emergency arises, that does not break the no spend challenge.
A no spend challenge may seem a bit daunting if this is a new idea for you, but once completed it is very rewarding.
If at first you don’t succeed, don’t be too hard on yourself and don’t be afraid to try again! We’re rooting for you.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The new year has just begun! It’s the perfect time for a refresh, and the beginning of a new journey.
If you’re ready to get kicking this new year with a resolve to tackle your finances, now is the perfect time to scope out some reliable resources and learn effective strategies to accomplish whatever goal you seek to achieve this year.
Links:
- Books:
- The Total Money Makeover by Dave Ramsey
- I will Teach You to Be Rich by Ramit Sethi
- The Millionaire Next Door – by Thomas J Stanley
- The Simple Path to Wealth – J.L. Collins
- The Psychology of Money – Morgan Housel
- YouTube Channels
- Ramit Sethi I Will Teach You To Be Rich - YouTube
- Dave Ramsey The Ramsey Show Highlights - YouTube
- Graham Stephen Graham Stephan - YouTube
- Khan Academy (Economics and Finance) Khan Academy - YouTube
- Next Gen Personal Finance Next Gen Personal Finance - YouTube
- Financial apps
- You Need a Budget (YNAB)
- EveryDollar
- Good Budget
- Pocket Guard
- Use Triangle Credit Union's app for iOS or Android for Money Management tools
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To improve and learn, you need to find credible resources. Today, there are so many different avenues to find anything you have an interest in.
This might be the year you want to increase your net worth, get your finances more organized, save more money, or get out of debt.
Fortunately, there are so many resources and tools available that cover any financial topic.
Here are some top resource categories with specific examples you should explore this year for financial knowledge, practice, and motivation.
The first one for all the readers out there is to select some finance books that explore popular themes to help you not only understand money but also how to lay out strategies for organizing it.
- Total Money Makeover by Dave Ramsey
- I Will Teach You to Be Rich by Ramit Sethi
- The Millionaire Next Door by Thomas J Stanley
- The Simple Path to Wealth by J.L. Collins
- The Psychology of Money by Morgan Housel
This is just a short list of the many books out there covering finance topics. Doing a simple Google or Amazon search will bring up additional suggestions for you to explore. Also, if you prefer to listen to audiobooks, most of these are available in audio format.
Keep in mind, many authors also write articles on their social media and websites so explore their profiles for more insight, news, and other advice they may be sharing.
For anyone who likes to watch videos and tutorials, another resource is to seek out financial videos from good teachers and experts.
If this is your preferred learning method, YouTube can be a great resource. Many financial institutions and professionals host videos and discussions on their own channel where you can pick up some useful tips, advice and learn all about a variety of topics.
Explore the YouTube channels of some of these popular creators.
- Ramit Sethi I Will Teach You to Be Rich - YouTube
- Dave Ramsey The Ramsey Show Highlights - YouTube
- Graham Stephen Graham Stephan - YouTube
- Khan Academy (Economics and Finance) Khan Academy - YouTube
- Next Gen Personal Finance Next Gen Personal Finance - YouTube
Don’t forget to also explore your financial institution and financial planner’s social channels for videos and posts sharing insight and advice.
The last resource you will want to use is a personal finance app.
It’s one thing to know what you need to do financially but another to make it work. Using a good mobile app or two will give you the tools to work a budget, set up goals, manage cash flow and pay off debt.
There are a few top-rated ones out there so browse the app store and see what you can find. Right off the bat here are a few of the popular ones to start your search.
- You Need a Budget (YNAB) - This app helps you track spending and budget to pay off debt YNAB
- EveryDollar - This app helps you with budgeting and cash management where you assign a use for every dollar you make EveryDollar - Ramsey (ramseysolutions.com)
- Good Budget – This app offers a digital take on the envelope system to help you organize spending money Best Home Budget App for Android, iPhone, & Web | Good budget
- Pocket Guard – This high rated app helps you simplify your money, track bills, and manage cash flow PocketGuard: Budgeting App & Finance Planner
Keep in mind that some of these apps mentioned require subscriptions and others may have free versions so explore the features of each to see which ones you are most likely to use for your financial management.
Also, make sure you get familiar with your financial institution and financial planner’s mobile apps. Many of them provide cool and useful tools for budgeting, debt payoff plans and net worth building.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holidays are almost over, but surprisingly, many deals are just beginning. Post-holiday sales are very common and taking advantage of these savings is a great way to start the New Year. Here’s what you need to know to ensure you get the best deals.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first deal you should look out for is for anything that is seasonal, or holiday related. For example, holiday decorations. You will probably be taking down your holiday decorations soon, or maybe you already have, so it’s way too early to put them back up. However, buying holiday decorations now is a great way to save money. Stores want to get rid of their holiday decoration stock so there will be plenty of good deals out there on all kinds of holiday items. It’s the perfect time to replace any festive lights that may have gone out or even buy yourself a new artificial tree for next year.
Seasonal and holiday related food will also go on sale. Certain brands, especially candy, will usually offer limited supplies of festive themed food. Deals like these can be found wherever you buy groceries. Just make sure to check the expiration date first, as you don’t want to buy too much and not be able to eat it all before it goes bad.
Holiday themed wrapping paper, cards, and gift bags will also go on sale. Before you grab these deals, try and remember how much wrapping paper you used this past season and take inventory of what you have left. That way, you have a rough estimate of how much you will need for next year. What you don’t need is an over-abundance of holiday themed wrapping paper that you only use once a year.
Another deal you should look for during post-holiday sales is on winter clothes. In January, retailers turn over their merchandise, which means that winter clothing will go on sale or clearance to make room for next season’s clothing.
The next deal to look for is anything fitness related. One of the most common New Year’s resolutions is to exercise more, and retailers will take advantage of this by offering great sales. Exercise equipment, clothing, and more will be on sale to help people become healthier in the new year. You will definitely be able to find a discounted rate on gym memberships, so if you don’t have the space for exercise equipment, you can go there instead.
The final deal you should look out for is on toys and games. Stores will often overstock these products in preparation for holiday shopping.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook to share your thoughts. Don’t forget to look for our sponsor, Triangle Credit Union on Facebook and LinkedIn.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s that time of year! Time for family and friends, get-togethers, yummy food and sharing. It is also a time of reflection and a time when we consider others more often than ourselves. One way we do that is through charitable giving.
Links:
- Charitable organizations to look into: Make a Wish, Salvation Army, Toys for Tots, Soup Kitchens
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Charitable Giving is a wonderful way for individuals and corporations to donate or “give” either to individuals or to organizations, particularly, those that support their values and organizations whose mission it is to help people either directly or indirectly. Some examples are, Make-a-Wish, Salvation Army, Toys for Tots, Soup Kitchens, and so many others. Or donating to fund a scholarship or donating goods for a fundraiser.
Unsurprisingly, December is the month in which most charitable giving occurs. Last year, according to nationalgivingmonth.org, Americans gave $410.2 billion, with 31% occurring in December alone. With stats like these, it’s clear that we are a generous people. Charitable giving is often tax deductible. And though it is about others, this can be an incentive for individuals and businesses and in the end, it goes to help and support others anyway.
If you are anything like me, you notice the increase in requests whether it is the famous bell ringing to the different requests in the various places we visit. This proliferation of need can be daunting so here are a few helpful hints.
1 Decide ahead of time what you will give.
By setting a “budget” for giving it helps you prepare yourself just as you would when purchasing gifts for family and friends and helps you avoid that uneasy feeling of not giving to everything. The burden of need falls on all of us and no one can do it alone. Giving should be cheerful and without obligation or compulsion.
2 Give thought to whom you would support.
Giving is a privilege and giving wisely benefits you, as the giver, too. If you have ever wanted to give but are unsure about the company and what it stands for, do some research before giving. This way you can give according to your principles, ideals, and beliefs and avoid any hesitation or “givers remorse”.
3 Be creative in your giving.
While charitable giving is most often associated with money, there are other ways we can give, this would be our time and talent. This time of year, there are plenty of opportunities to give by sharing your time. You can volunteer to serve; you can volunteer to spend time with others who may feel alone this time of year. Your talent could literally be something you’re good that you “give” or share with others like performing or reading to kids or something similar. Sharing your treasure is awesome but don’t overlook your time and talent either!
Well, that’s it for this MTT, all of us at TCU hope you have a safe and wonderful holiday season. Be encouraged to give and seek the joy in doing so.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Bye!
It's the holiday shopping season and you're likely neck deep in the hustle of picking out the perfect gifts for everyone on your list. But with prices rising across the board, you might be struggling to keep your spending from getting out of control.
In this episode, we share a few practical tips and tools to save money on your gifting this year.
Links:
- See 2023 Holiday Outlook trends
- Learn about the protective benefits of a Better Checking account
- Leran more about Triangle's Purchase Rewards program
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript.
Being financially healthy takes attention and discipline. But you can’t determine where you’re going if you don’t know where you currently are. That’s why this time of year is the perfect time to do a financial review.
Links:
- Check your credit score from any of the top three credit bureaus: TransUnion, Experian, Equifax
- Get a free 3-in-1 credit report every 90 days with a Triangle Better Checking account
- Learn more about Triangle's Financial Planning services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
As 2023 comes to an end, it’s a great time to think about your financial goals and plan for the New Year. Taking some time in the next month or so to look ahead at your budget, credit, and investments is the best way to help you define your financial objectives, recognize your financial success and failures of the previous year, and make improvements in the New Year.
Set aside some time in the next month to look over these three important financial categories and determine how you stand.
First is your Budget
Think about your budget over the past year. What things worked for you? Did you find it easy or hard to stick to your budget?
Reviewing your budget helps you determine your financial status by looking over your assets like income, savings, and retirement contributions. Ask yourself if something changed in your finances. Did you get a new job? Did you buy a new car? A new house? All new financial changes should be factored into your budget so you can update it accordingly.
Next, you’ll want to look over your liabilities such as loans, credit cards, and monthly expenses including your mortgage and utility bills. Ask yourself if any of your expenses went up. Did you pay off a credit card? Did you get a new loan? Sign up for new subscriptions? Take note of all these changes to determine how many new or increased expenses you’ll have going into the new year.
After reviewing your assets and monthly expenses, you can now determine where to make improvements such as removing certain expenses or subscriptions, paying off credit cards or increasing retirement contributions.
Next, Monitor and Review Your Credit
Do you know what your credit score is? If not, do you know how to find out?
Your credit score helps lenders determine your credit worthiness when it comes to borrowing money for things like a car or house. If you intend to take out a loan at some point, you’ll need a credit score, and a good one at that. The higher your score, the more likely you’ll get a lower rate. Which means you’ll have a lower monthly payment. Take time to look over your credit score and determine if it needs improvement.
There are many resources available to check your score, like the top three credit bureaus, TransUnion, Equifax and Experion, if you have a credit card, many credit card companies provide it, and you can also get it through a Triangle Better Checking account with ID Protect.
Once you know your credit score, set new financial goals towards your credit. Reevaluate ALL your credit cards and determine which ones you want to continue using, which ones to remove, and which ones you need to focus on paying off. Determine which ones to keep or remove by reviewing the perks of the credit cards and weighing any cons like interest rates.
Lastly, Review Your Retirement Savings and Investments
Saving for retirement in an individual retirement account (IRA) or a 401(k) is one of the best ways to prepare for your future. Do you have a retirement account? How much have you been saving? Do you know if you’ll have enough saved when you’re ready to retire?
As you review your annual financial plan, look at your retirement accounts and check their balances.
If you have multiple accounts, consider whether you should roll any old 401(k)s over into another if necessary and determine whether you should increase or decrease your annual contribution. For any other investments, like a brokerage account, it’s important to keep an eye on the status of those investments when you do the annual financial planning review so you can decide whether to trade out any bad or underperforming investments.
If you haven’t paid much attention to your retirement planning but you know it’s something you need to do reach out to Triangle for financial planning services that will help you put together a sound retirement strategy.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holidays are here, and it can be difficult to keep track of how much money you spend during this shopping season. If you’re worried about overspending this time of year, keep listening for a few practical tips to stay on the right financial track.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you want to avoid spiraling out of financial control due to the holiday spending frenzy the best thing you can do to keep control is to start with a budget. Creating a budget will give you more control over how much you spend by helping you strategize how best to distribute your money. The budget structure of your monthly income should be divided into three categories; needs, wants, and savings. You should portion your monthly income into each category at the following percentages: fifty percent towards needs, thirty percent towards wants, and twenty percent towards savings.
Establishing a reasonable budget that reflects your monthly payments limits how much you spend as well as how much you want to save. A budget allows you to set expectations for yourself when it comes to spending wisely as well as saving for future purchases and your emergency fund. Let's dive into how to avoid overspending by limiting your spending, balancing your budget, and saving money.
Limitations of Spending
Think about your monthly payments that need to be made, whether it’s for a loan or a credit card, so you can set a limit on your holiday spending and day-to-day expenses from what you have left from your monthly income. Once you have that limit set, it’s important to keep track of all your purchases so you can keep your budget balanced and avoid overspending.
Balance Your Budget
Because your monthly spending can increase due to the holidays, you can adjust your budget a little while keeping it balanced. Simply change your income allocations from 50/30/20, that’s 50% needs, 30% towards wants and 20% to savings to something like 50/40/10, 50% needs, 40% wants and 10% savings. Slightly adjusting your breakdown can keep your budget balanced by ensuring you’re still covering bills and purchases, without completely neglecting an important category like savings.
Save Up for Back Up
Saving money through a budget can be rewarding and provides financial security. But savings only works when you stick with it. The purpose of saving is to make sure you have funds available for future expenses. That could be an emergency fund so you have money set aside to cover an emergency, or it could be a separate savings account for a big vacation or purchase, like a house. Putting a portion of your monthly income into a savings account is critical to staying on financial track throughout the year and helps you reach your long-term goals.
This is a busy and hectic time of year, making it particularly difficult to avoid spending more than planned on gifts, travel and other holiday expenses. Making sure you set up a proper budget with set allocations gives you control over your money and keeps you from spending way too much during seasons of spending, like the holidays.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If your holiday shopping is in full swing, your head is probably buzzing with all the to dos and events filling up your schedule. But, during this time it’s also important you keep your guard up because fraud can lurk behind even the cheeriest holiday ad or email.
Links:
- Check out other common holiday fraud tactics
- Learn more about ID Protect with Triangle's Better Checking
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Holidays are a busy time for most of us. We’re wrapped up in the excitement of gift giving, shopping, hosting, prepping, there’s just so much to keep in mind when you’re maximizing your holiday experience.
While we’re shopping for the perfect gift, hanging up the Christmas lights or baking cookies for the fam, someone else is busy this time of year, and they’re not filling out cards or sending letters to Santa. They’re fraudsters and they’re trying to steal your money.
Fraud increases significantly during the holiday season and its prevalence should make you pause before opening that incredible new deal that just popped up in your inbox.
You’re probably thinking, oh come on, one more thing to have to worry about this season? Yes! When it comes to keeping your identity safe, you can never be too busy.
Don’t let the thieves rob you of your holiday cheer this year. Here are a few of the more popular fraud tactics you should keep in mind while celebrating the holiday season.
- Fake Charities – What better time to prey on the generosity of people than during the holiday season? Bad actors abound and you can bet they’ll try preying on your generosity by posing as a charity to get you to hand over a donation, no matter the amount. When giving to charities, stick with the ones you trust. Visit their site directly to make your donation instead of clicking on a link.
- Lookalike online stores – These are common on social media and can be extremely convincing. Fraudsters put together a fake website and then create attractive ads that promote incredible deals to get you to click. They post those ads on social media and link back to their site where you select your item and can even complete a purchase. Oftentimes, people who fall for this find out it’s a scam when they never receive their item. Be careful when you see sites offering great deals. Even if it looks legit or appears to be a brand you recognize, check the URL to verify it’s the actual brand’s site, and always make sure to check the website for contact information and a return policy. If they don’t have either, then it's a huge red flag the site is fraudulent.
- Phishing scam emails – If you’re like me, your email inbox is overflowing with deals, offers and other holiday specials. But, where the emails abound, fraudsters are likely to be present. Keep a close eye on the emails you receive and beware of deceptive ones camouflaged to look like reputable sites. Keep a sharp eye out for urgent messages, spelling or grammar errors and other red flags. Hover over all URLs before clicking to make sure they link back to the brand site and don’t open any attachments or click any links before making sure they’re legitimate.
- Fake tickets for travel or other events. Who doesn’t want to save on their next big vacation or favorite star’s uber expensive music tour. If you’re a travel or experience aficionado, you’re likely to be watching for discounts and offers for traveling or other experiences. But beware because this is another way scammers try to trick you. You may see offers for deeply discounted travel or concert deals through email or social media. They can also come as fake sweepstakes where you’re notified that you won an all-expenses paid trip to the destination of your dreams or a free cruise to a tropical paradise, but you don’t remember entering. Again, think twice before clicking on unbelievable travel deals or notices. Work through companies and websites you trust to avoid falling for one of these scams.
- Missed delivery notifications – This tactic tries to trick you into clicking a link via a text message. Scammers send you a text message appearing to be one of the nationally recognized delivery companies, informing you of a missed delivery or a delivery update. Since we’re all likely waiting on deliveries this time of year, receiving a message like this might not seem so suspicious. Once you click the link, you’re brought to a fake website where you’re prompted to provide sensitive information like a credit card or SSN to retrieve your order update. If you get a message like this, don’t click the link. Delivery companies won’t ask you to provide a credit card number or social to look up delivery information. Visit the company’s website directly to track your order, get updates or to contact them.
Those were just five examples of common holiday scams, but there are so much more. Check the link in the show notes for a longer list of other fraud tactics that occur around the holiday season.
Before I close I want to remind you of these best practices to safeguard yourself from fraud not only this time of year, but all year round.
- Be very wary of any urgent message prompting you to act now
- If it looks too good to be true, it probably is
- If you get a phone call from a FI or other company you do business with asking for sensitive information, hang up and call them at the number on their website
- Make sure you have identity protection and fraud monitoring to help with resolution. There are a lot of affordable options out there that give you a great benefit for a reasonable price, like Triangle’s Better Checking with ID protection. If you’re interested, visit a branch or check the website to learn more.
The holiday season is supposed to be full of comfort and joy. And though I don’t want to bring you bad tidings or negative vibes, I want to keep you informed so you can enjoy your celebrations in peace.
Stay safe and enjoy a fraud-free holiday!
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Thanksgiving is one of the most popular holidays because it’s not about costumes or presents, it’s about taking time to give thanks and be with family and friends you love. While that is what we would like to think, Thanksgiving has become somewhat of another stressful holiday that can fill you with financial, mental, and emotional anxiety. Stay tuned as we countdown ways you can alter your Thanksgiving feast and family time to make this holiday the best one ever!
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
I love Thanksgiving primarily because my mom is a fantastic cook and even though I’ve been adulting for 40 years, she still hosts our family with all the delicious fixins! I won’t say getting to her house for Thanksgiving is the easiest because she and my dad live six hours north of our home in NH. As you can imagine, the most stressful issue for us is getting there! My husband and I have two adult daughters: one with a job and one in college in NC. What was an easy arrangement for us to all get in the car years ago, has now become quite an ordeal. Now we have three people who have to get time off and getting the also have to get our girl home from university without breaking the bank. We know we aren’t alone when it comes to holiday stress so here are ideas you can incorporate into the final countdown to Thanksgiving:
7 Days Out – if you haven’t extended your invites yet, you need to do that today! You don’t need formal invitations or a special email—a phone call or a text will do. When you think about those invitations, really stop to consider who’s going to be at your table. In addition to the who, you also want to consider how many simply because a crowd can cause chaos. Too many people can lead to a hectic and stressful situation so don’t put yourself in that position. Invite those who can comfortably fit at your table. And don’t forget the single aunt or neighbor who may not have anyone to share this special day with—extending the invitation will make their day a special one.
6 Days Out – Clean out your fridge and make room for all the groceries you’re about to buy because it’s time to think about your meal: what will you serve for an appetizer, main entrée, sides, and dessert? Once you have the menu, then you’ll want to prepare your grocery shopping list. We all tend to over prepare or buy when it comes to food so be considerate of your budget and don’t go overboard. There are meal planning tools online (and we’ll share those in our show notes). If you are on a budget, don’t be afraid to ask your family and friends to bring a side dish to share. Whenever I get an invitation to a party, I always ask, “what can I bring?” with the expectation that I do need to bring something! Try to stick to your list when you go shopping—if you do buy extra groceries just make sure you can afford them and you have room to store them! You will find grocery stores offer big sales during Thanksgiving week so if your budget allows, plan to pick up a little extra, but don’t go over budget! Check the sales flyers before you leave your house and don’t forget the condiments!
5 Days Out – Plan your table. There is something about a festive table to set the mood. Add some holiday decorations as a centerpiece. If you’re looking for ideas, a simple Pinterest search will present you with some amazing suggestions. Table décor is beautiful and will be appreciated by your guests, but it is not necessary so if your budget doesn’t allow for it, you can pass on this one. I have a co-worker who just told me she will have thirteen people for Thanksgiving which is about the cutoff for real or paper plates. She’s opting for paper and that is a great option as well—super easy clean up and there are gorgeous prints and patterns to choose from in all sizes.
4 Days Out – More planning is on the menu today: what will your day look like and what will your guests be doing? How long do you plan to have them stay? It’s quite common to have guests arrive an hour before mealtime, which is perfect for appetizers and to catch up. After the meal and clean up, what comes next? So glad you asked! Depending upon your vibe, your guests can retreat to the family room and sofa for football, or you can bring out the board games once the dining room table is cleaned. After dinner coffee is always a good idea—a little mid-afternoon caffeine pick-me-up will keep your guests awake! Whatever you plan for entertainment, let it be simple and easy. There is no need to force complicated activities and cause frustration. There is one item that is a must: make sure you take a photo together. Be sure to think ahead about when people will be leaving so you have the time to capture your special day together.
3 Days Out – Start cleaning. Anytime I have guests, I always start my cleaning early. I do try to keep our house tidy but inevitably, there are rooms to clean! Depending on how many rooms you have, tackle one or two a day so you don’t play yourself out before the big day!
2 Days Out – Keep on cleaning! Double check the groceries to make sure you have everything you need. If you have any last-minute items, now’s the time to get them!
1 Day Out – It’s Thanksgiving Eve and your guests arrive tomorrow—no need to panic because the house is looking great (if not, keep cleaning), your groceries are in the pantry and refrigerator! Today is the day to pre-prepare any food that doesn’t have to be made on Thanksgiving Day, which can be most dessert items and apps. You can even set and decorate your table in advance. Once your food items are prepped, put them in the refrigerator for tomorrow. One last item: write a to-do list for tomorrow with approximate timelines—this will help you keep a schedule and limit your anxiety…then get to bed early; you’ve got a big day tomorrow!
Thanksgiving is here and it came up fast, but you’re ready to face it with gusto! Enjoy your special time with those you love and give thanks for it all.
If you have any comments, tips or ideas, please email us at tcupodcast@trianglecu.org. For more great content, be sure to subscribe to the Making Money Personal podcast wherever you listen to podcasts and be sure to follow us on social media.
Many thanks to our sponsor, Triangle Credit Union, voted the best credit union in NH, and many thanks for tuning in.
Have a great day everyone!
In this very special episode, we have some great news to share. We're introducing for the very first time a brand new host, Kevin Shepard who just joined our podcast team. In this episode, we're gonna chat with Kevin about what he's excited to share on this podcast and how you can enter a special raffle that we're running to celebrate this occasion.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript
Kickoff with Kevin Contest!
Join us in celebrating our new podcast host, Kevin Shepherd! We’re welcoming him to our Making Money Personal podcast team and wanted to celebrate this exciting news with you by raffling off some gifts!
To celebrate Kevin, we’re giving away three $50 gift cards to specific businesses selected by Kevin himself.
Entering is easy— Email us at TCUpodcast@trianglecu.org with a welcome message to Kevin along with the gift card of your choice and you’ll be entered*!
Entries will be accepted until Thursday, November 30, 2023.
View official contest rules.
In a world of consumer convenience, nothing is easier than using a mobile wallet. If you’re ready to make it easier to buy, stay tuned.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Mobile Wallet use is on the rise and here is some staggering data. As of July 2023, there were 3.4 billion mobile wallet users in 2022, growing to a projected 5.2 billion in 2026. An estimated 54% of e-commerce payments will be made via mobile wallets by 2026. Almost half (49%) of global online transactions were made with a mobile wallet in 2022.
A mobile wallet is an application on your mobile device that stores credit cards, debit cards, gift cards, and even some event tickets on smartphones and smartwatches.
Mobile wallets allow you to make quick, secure and convenient payments with just a tap on a contactless card reader.
Mobile wallets are more secure than a physical card because when you pay, your phone communicates with the terminal using near-field communication technology which provides encryption and other protections when data is transferred.
Your credit card number is also replaced with a randomly generated digital ID, referred to as a token, which means your card number is not being transferred at the point of payment.
Although the payments from a mobile wallet are safer than a physical card, you still need to take precautions in case your mobile device is lost or stolen.
While mobile wallets are a more secure payment method, there are always some ways to boost the safety of your mobile wallet—here are our tips:
- Keep your phone locked. One of the first steps is to enable a lock on your phone with a numerical/alphabetical password, a swipe pattern or biometric authentication. Biometric passwords are the most powerful because they require a fingerprint or face scan to unlock your phone.
If you choose to use a password, use a mix of letters, numbers, and symbols to make it more difficult for a thief to guess. If you choose a swipe combination, always make sure you enter your password confidentially as you can never be too sure who might be watching you.
- Make sure the mobile wallet app you are using is from a trusted source. Most new smartphones will come with a mobile wallet app preinstalled on the phone such as Apple Pay, Google Wallet, Samsung Wallet, etc. If your phone does not come with a preinstalled mobile wallet app and you’re interested in using one, make sure you download an app from your phone’s app store that is created by a trusted brand.
- Don’t use public WiFi. Public Wi-Fi can be found in most restaurants, retail stores, shopping malls, and more. Although convenient, public WiFi is easy for thieves to hack, making your information easy to obtain. Cybercriminals can track your activity online, get into your accounts and even see payment information.
If your mobile device is lost or stolen, make sure to immediately contact your financial institution and put a hold on your cards and account, just in case.
Taking a few extra steps to ensure the security of your mobile wallet will give you extra peace of mind this holiday shopping season.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Facebook and Instagram pages, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday, and make sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
There are so many tips and tricks out there to save money and maximize purchase power. When inflation is on the rise and we feel like we’re spending more for less, it’s best to explore new ways to save ourselves some money on items we’re planning to purchase already. Luckily, there’s one thing everyone should do to save on purchases.
Links:
- Learn more about how to get started with Purchase Rewards
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
These days more and more people may be cutting back on extra purchases to save money.
If you’re one of them, you’re likely trying to find ways to stretch your dollar.
You may have cut back on frivolous purchases, started making more meals at home, traveling less and shopping the sales or clearance aisles.
But if you’re still feeling the pinch, there’s a money saving method you may have not considered using.
I’m talking about Purchase Reward programs. Purchase rewards programs help you maximize your purchase power by saving you money on anything you buy.
Who wouldn’t want to get a portion of their money back on their purchase? It’s almost like buying stuff on sale.
It doesn’t matter who you are, what you do, or how much money you make; everyone should be using purchase rewards programs.
You may already be thinking, but I’m already getting cash back and with my credit card. That’s a great way to earn on purchases, but most credit card programs just bank points for you to use down the line, while others allow you to use points for cash back or statement credits, but that’s after you’ve purchased your item and redeeming points is dependent on you.
Purchase rewards programs are a little bit different.
These give you cash back automatically on your purchase. Instead of earning points that get banked for later use, which can be forgotten, rewards programs automatically return a portion of your purchase price back to you.
If you’re interested in this easy and automatic money-saving opportunity, don’t look to your credit card or a special promo program, look to your debit card.
Some financial institutions offer Purchase Rewards through your debit card so you can earn money back on purchases made from certain online merchants.
For example, Triangle’s debit card offers a purchase rewards program that provides all kinds of discounts with some going up to 10% back on purchases from certain vendors.
This is phenomenal benefit for anyone working a budget because not only do you save money, the other benefit is that you’re using your debit card, so you’re not racking up a credit card balance that could charge you expensive interest.
If you have a Triangle debit card, it’s easy to set up right through your online or mobile banking,
Just log in, register and within minutes you can explore and activate rewards from vendors within the program.
There are hundreds of offers with vendors spanning categories from clothing, automotive, wine, hotels, food, electronics, restaurants and more.
Once you activate the offer, use your debit card with that vendor and get cash back to save yourself some moolah.
Now's the perfect time; the holidays are ramping up so check out purchase rewards and have fun exploring vendors for your holiday gift planning or maybe even a little something special for yourself.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s Halloween time. The time when many people chat about ghost stories, urban legends and share other spooky tales.
In this tip, we’ll share a few spooky stats of our own--only these are financial.
Links:
- Check out more frightening financial stats from Forbes.
- Open a savings account to start building your emergency fund
- Learn more about Triangle's wealth management solutions
- Check out our Financial Freedom: Your Path to Debt Free Living webinar
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
With a little Internet searching you can find all kinds of stats on the financial situations current Americans find themselves in.
Some of these stats are positive, while others are a little more negative, even frightening for some.
Being in good financial shape is paramount to living a life where you don’t have to be haunted by debt or frightened by unexpected expenses.
In this tip we’ll share a few frightening financial facts out there that many Americans are facing right now but will share some suggested solutions because the good news is that with the right planning, these can be avoided.
Frightening fact #1 – 56% of Americans can’t afford a $1000 expense.
If you’re in this situation, things can get scary if an expense pops up that you’re not expecting. It could be a spontaneous car issue, a broken phone, a sudden medical bill, or immediate home repair.
This can be frightening because the panic and distress of an unexpected situation can be compounded by the stress of not having the money to cover the cost.
Don’t let one of these almost inevitable situations derail your financially. You can avoid this freaky financial situation by making sure you set up an emergency fund.
It doesn’t have to be a lot initially. You just need to set up a buffer so in case something unexpected happens, you can cover a portion or all of it without freaking out.
Try to save $500 or even $1,000 to begin. Having that money available for emergencies will make a world of a difference in how you’ll face your next emergency - with either peace or panic.
Frightening Fact #2 – Roughly 37% of Americans haven’t done any retirement planning.
The reason this can be frightening is because to maximize your retirement savings you need to have a plan, and the earlier you plan, the more you’ll have. If you don’t have a plan at all you run the risk of missing critical years to build up retirement savings and may not have enough to retire by the time you reach that age.
Planning for retirement is a critical action to take if you dream of not having to work one day but it can be confusing or intimidating on how to start.
This is where working with a financial advisor or planner can be critical.
They will help you determine how much you will need in retirement, how much you will need to save now to reach that goal and can help you adjust your plan as you age or life changes.
If you’re ready to get started, Triangle has wealth management services to help you no matter what your age or how much money you have.
Frightening Fact #3 – Average household credit card debt is up from last year.
According to a 2023 WalletHub survey, the average US household has roughly $10,170 in credit card debt. This is up from $8,942 last year.
This can be frightening because stress and anxiety increase due to the financial pressure of growing debt. Purchase power goes down and opportunities to build wealth decrease severely impacting your ability to move your finances in a positive direction.
If you’re in this situation, you’re not alone. Others are likely going through the same things as you. There are many reasons why household debt is increasing, much of which could be due to rising prices and inflation.
But your finances are still your responsibility and if you’re ready to make a change, try some of these suggestions to stop adding to that debt and start paying it down.
- Make a budget to avoid overspending
- Look for a good debt consolidation plans to organize your debt and lower your interest rate
- Watch webinars and get education on how to work a debt-payoff plan using the snowball method
- Use a debit card and/or cash for a while to give those credit cards a break, or stop using them altogether
It is possible for people to successfully get out of debt. Just keep in mind that it won’t happen immediately and takes effort, but the peace of mind that comes from success is worth it.
This autumn season don’t let your finances be another thing scaring you.
The best way to avoid becoming one of these frightening statistics is to take control of how you manage your money now and make solid plans for your financial future.
We offer many tools at trianglecu.org and triangle university where you can get education and valuable resources to get started right away.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Let’s face it: most of us are looking at ways to cut costs or find value to make our dollars stretch further these days, but we don’t want to sacrifice our health care. In this tip we examine a new way to reduce healthcare costs.
Links:
- Learn more about KnowBe4 awareness and services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
This is Money Tip Tuesday from the Making Money Personal Podcast.
By now, you’ve probably heard about Telehealth. If you haven’t, do a quick Google search and you’ll find that Telehealth is sometimes called telemedicine; it’s a service that lets your health care provider care for you without an in-person office visit. Telehealth is done primarily online with internet access on your computer, tablet, or smartphone—it’s basically a virtual office visit.
As a consumer and a parent of two young adults in college, we have used Telehealth in the past and it’s worked out great. We simply called the Telehealth number on the back of our healthcare card. When we called this number, we did not speak with our primary care physician. We speak with a care provider, which can be a doctor, physician’s assistant, nurse practitioner, or nurse). We basically explained our issue or symptoms, and a brief history of any ongoing medical problems.
After the discussion, there were some recommendations. Now, for serious medical issues, if you call a Telehealth provider, you most likely be directed to the Emergency Room or local urgent care for additional evaluation and care. It has been our experience, as a family, that most medical care requires an antibiotic, which the care provider can prescribe and call in for you at your local pharmacy.
For our family, we have enjoyed telehealth services and the positive experiences have been: (1) we have never had to wait online to speak with a care provider, (2) we don’t incur the costs of a co-pay or office visit, and (3) we have received the care we need.
This is a fantastic scenario for our one-off medical problems, but for ongoing or major medical care, we see our regular care provider.
In the instance your regular care provider does use Telehealth services, there are some guidelines for safeguarding your personal information from cybercriminals.
According to online security experts at Knowbe4Alert, you will want to:
Keep Your Device Up to Date
Whether you connect to telehealth using a smartphone or a computer, make sure the device is up to date with the latest security patches. This includes updating all applications, not just the ones used for telehealth purposes. Each app is a potential point of entry for cybercriminals. If the bad guys gain access to your device in any way, then your sensitive medical information will be at risk.
Use an Advanced Login
Telehealth services typically require users to create a username and password. If the service offers Multi-factor Authentication (MFA), use it! MFA requires you to enter your password and then enter another form of verification, such as a code sent via text message. If MFA isn’t offered, we recommend using a password manager to generate and securely store complex passwords.
Connect with a Secure Network
Never use a public Wi-Fi connection for telehealth services. You never know who could be watching and tracking your activity. When connecting from home, be sure to set up a strong password for your router. Default router passwords are often public knowledge or easy to guess. For the most secure network, connect to a virtual private network (VPN), which encrypts web traffic to protect your information.
Be diligent about your online activities as well as your health!
If you have any questions or comments, or ideas for more money tips, email us at TCUpodcast@TriangleCu.org. For more great content, subscribe to the Making Money Personal podcast wherever listen to podcasts, and follow us on Facebook.
Thank you to our sponsor, Triangle Credit Union, voted the best credit union in NH and thank you for tuning in!
Have a great day!
As a small business owner, it's important to align yourself with organizations who support you and your growth.
If you're ready to take your business to the next level, you'll want to listen in. We chat with Tracy Gillick, Outreach Specialist for Goldman Sachs 10,000 Small Business New Hampshire program and Dina Akel, CEO and Owner of Vieira Luxe, on how this no-cost education program can help business owners expand and grow their business.
Links:
- Learn more about the Goldman Sachs 10,000 Small Businesses (10KSB) program
- Contact Tracy Gillick, Outreach Specialist for Goldman Sachs 10KSB
- Email tgillick@ccsnh.edu
- Call: 603-206-8189
- Contact Dina Akel, Owner and CEO of Vieira Luxe
- Explore online: vieiraluxe.com
- Call: 781-923-0656
- Visit the shop: 100 Main Street, Suite #4, Nashua, NH 03060
- Own your own business? Learn all about Triangle Credit Union's business services
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript.
For many people today, it seems checks are becoming more and more a thing of the past. In fact, there are many people who don’t know how to write one.
With the changing tools in banking and newer tech like digital payment and transfer capabilities, is there any real need for checks anymore?
Links:
- Contact us with any questions about getting started with Remote Deposit Capture
- Watch our Remote Deposit Capture tutorial on YouTube
- Read the article about recent check usage stats
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal Podcast.
Contrary to popular belief, check use is not dead. Believe it or not, people are still writing and issuing checks.
According to data from the Federal Reserve Board, roughly 11.2 billion checks were used in 2021.
This stat might leave you wondering who even uses checks and why?
Most of us use digital payment services that process payments for anything from groceries to paying back a friend for last night’s dinner.
Services like Cash app, Venmo, PayPal and others are great for their convenience and swift transfer capabilities. You don’t have to wait long for the money to show up in your account so there’s no mystery why these apps are rapidly making check usage a thing of the past.
But, even with the growing usage of those popular payment tools, checks are still being used.
In fact, studies have shown that when people do use checks they’re using them mainly for larger purchases, particularly for rent payments, sometimes utilities or things like a car downpayment.
The good thing is that even though checks aren’t as popular as they used to be banking tech has continued to update the process of how we interact with and deposit checks to keep up with the times.
Originally checks would be written out to the receiver, physically brought to a teller at the bank and deposited in-person. But now, with tools like remote check deposit, you don’t even have to get off the couch to deposit your check, if you ever do receive one.
This will save your not only time by avoiding a trip to the bank but also money by saving yourself on gas or other transport costs.
Remote Deposit doesn’t cost anything at all. All you need is a mobile phone or computer, Internet connection and an online/mobile banking account.
To access it, log into the account and select Remote Deposit.
Follow the prompts to sign your check, take pics, or if you’re using a home computer, scan the check, then upload it all within a few seconds.
If you’d like to see an example of how it’s done, watch our tutorial video on YouTube for a step-by-step demonstration. The link will be in the show notes.
In summary, checks haven’t disappeared entirely just yet and even though you all in on digital payment tools, you may still wind up receiving a paper check. If do, skip the trip to the bank and deposit it from home, or on the go with remote check deposit.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and make sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Throughout our lifetime, finance plays a huge role—from counting pennies in preschool to making a mortgage payment on a house.
Finances can be overwhelming, but with the help of financial literacy tools you can build self-confidence in understanding the concepts of money management, debt prevention, and financial security.
Links:
- Watch our Budgeting 101 Webinar
- Watch Financial Freedom: Your Path to Debt Free Living webinar
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial literacy resources overall offer advice to analyze, prioritize, and accomplish your financial goals.
Let us break down why financial literacy is significant today:
Learning Budgets and How to Save Money
Saving money and creating a budget is the starting point in financial literacy. These tools provide a financial picture and explain the process of building a budget so you have a better understanding of how much you earn (income) impacts how much you spend (expenses). From charts to articles, financial literacy resources can provide a budget structure for you to prioritize and track your spending to make sure the budget remains healthy and balanced. Financial literacy resources will also offer suggestions towards important savings such as retirement and developing an emergency fund as well as saving for a bucket list vacation.
If you’re new to budgeting and need a little guidance, watch our Budgeting 101 webinar available on our YouTube channel for an overview, explanation, and demonstration of how to work your very first budget.
Understanding Credit, Payments, and Debt Prevention
Once you understand budgeting and saving, you will learn more complex subjects like credit cards and loans. Financial literacy resources provide guidance and tips on various interest rates towards loans, how to make those payments, and avoid or pay off debt. Financial literacy resources apply the prior practices of saving money towards paying off any existing debt.
If you’re looking for a practical way to start paying down your debt, watch our Financial Freedom: Your Path to Debt Free Living webinar on our YouTube channel to get a step-by-step presentation on how to structure your very own debt payoff plan.
Recognizing & Protecting Yourself from Fraud
Lastly, financial literacy resources provide alerts regarding constant fraud and detecting suspicious behaviors that come from fraudsters using emails, phone calls, and text messages. Financial articles provide important information on ways to keep your financial accounts safe such as checking your credit report, card transactions, or contacting your financial institution to confirm alerts and messages are from your financial institution and not from those trying to steal your identity. These kinds of communications are not only beneficial for you, but for your financial institution to be aware of these fraudulent attacks and spread the word with their organization and all their members.
Financial literacy tools are educational resources that help you understand how to manage your money, make payments on time, and prevent financial fraud. More than likely, your financial organization provides articles, learning programs, or even games for the younger audience. Financial literacy resources can also provide different calculators to determine certain payments and yearly terms on things such as mortgages, loans, and debt consolidation. These resources advance your financial decisions and provide ease throughout your financial journey.
Triangle Credit Union has dedicated a website for financial education and resources known as TCU University. You will find finance-related blogs, podcasts, YouTube videos, webinars, and events. To learn more about subjects like money management and debt prevention, visit triangleuniversity.org.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and make sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
As banking technology continues to advance, the focus of many institutions is on providing top quality interactions with greater flexibility and control for you, the user. With the implementation of Interactive Teller Machines (ITMs), the goal is to provide more services and convenience while still maintaining human interaction and engagement.
With ITMs, you get the best of both worlds: the flexibility and convenience of self-service banking with the human service and interactions you may prefer. Stay tuned to learn more about the benefits of self-service banking.
Links:
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Today’s banking tech (also known as financial or fin tech) is amazing. You can do so many banking transactions on your phone or computer.
But what if you need to do something different that you can’t do online? You can call, visit a branch, or now, use an ITM, which is the next generation of ATMs.
Okay, so they’re not the newest tech, they’ve been out since the 2010s, but they’re beginning to build momentum in the banking world. As of 2022 only 41% of consumers have used an ITM, and 56% don’t even know what one is.
If you’re not sure what an ITM is or why you’d use one, here are a few things they do like an ATM and some additional capabilities for improved service.
Like an ATM, all ITMs give you the capabilities to:
- Check account balances
- Deposit cash and checks
- Withdraw cash
- Transfer money
But ITMs are more like upgraded ATMs and their greatest benefit is you can speak directly to a live person who can answer questions and provide many of the same services you can expect at the teller line
- You can make loan or credit card payments
- You can cash checks
- You can withdraw money without a debit card
- You can ask specific questions about your account information
- You can even ask their favorite food or what they did last weekend.
When would you need to use an ITM? The short answer is any time you use a regular ATM or your branch drive-up and teller line service. Here are some examples:
- Use an ITM when you need cash in different denominations
- If you need different types of cash for a yard sale, budgeting purposes, or any other reason you don’t need to go to the teller line for that.
- ITMs can give you different options to choose from and can dispense smaller and larger bills depending on the machine.
- Use and ITM if there’s a long line in the branch
- If you’re at a branch and there’s a long line to get to the tellers, look for an ITM and pop over there.
- You’ll be able to do most transactions you’d do at the line, but all self-service.
- Many branch lobbies have an ITM right inside the building, so if you don’t want to wait for the next teller, step over to the ITM for faster service.
- Use an ITM if you’re on the go but don’t want to get out of your car
- With ITMs you can avoid going in the branch and use the machine like you would a regular drive-up.
- If you’re in a rush, need teller service, but don’t want to park to go into the branch, drive right on up to an ITM and you can still do the transactions you need with service from a live person.
ITMs save you precious time and offer you more capabilities by offering a robust self-service banking experience with the ability to connect with a live person if needed.
Next time you visit a branch or pass by an ITM, give it a try. You’ll love the experience.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and make sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
You probably already know that having a savings account is important. You can save up your money for your next big-ticket purchase, retirement, or an emergency fund. But did you know that there are loads of benefits to using an online savings account?
Here’s what you need to know about the benefits of online savings and what to look for.
Links:
- Learn more about the benefits of an Online Savings account
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To begin with, not only does an online savings account keep your money safe, it can also help you build wealth. Financial institutions will often pay you interest for keeping your money with them. The interest rate, which is a percentage, will be multiplied by how much money you have in your online savings account. The financial institute will then add that amount of money to your savings.
You’ll also want to look at the annual percentage yield, or APY. The APY is how much money you will make on your balance, with compounding included.
In other words, when you are looking for a place to keep your savings, you’re going to want to compare different financial institutions’ online savings rates and APYs. The higher the interest rates, the more money you will make. Online savings typically offer a higher interest rate than a traditional savings account so if you’re looking to earn a higher yield, try an online savings account.
Keep in mind that rates are subject to change and are usually based on the Federal Reserve, so you will want to keep a close eye to see if your rate decreases; if rates decrease, you may want to consider switching where you keep your money.
Another benefit of online savings is simple convenience. You can access your funds quickly within your online or mobile banking and can transfer money to and from other accounts instantly. All you need for access is a device and an internet connection. This is especially useful if you have an emergency and need to move some money fast. You don’t need to wait in line at a bank or on hold on the phone.
Having your money in an online savings account isn’t just convenient, it’s secure too. If your financial institution is FDIC-insured, your money is safe in case the institution fails. It is insured up to $250,000 per account. If you bank at a credit union, your money is insured for the same amount through the NCUA. Since it’s a strictly online account, it’s also secured through encryption, as well as multi-factor authentication, which makes it more difficult for fraudsters to steal your money. Online savings accounts are just as secure as your other financial accounts.
One thing you’ll want to look out for when shopping are the online savings account fees and minimum balance requirements. Some financial institutions have monthly maintenance fees or fees if your balance drops below a certain amount. These fees can take away any interest you might have earned in your savings. Look for a financial institution with no fees on savings. You also want to check the minimum deposit requirements. Some online savings accounts can require a minimum amount of money to open the account, which can range anywhere from $100 to $5,000.
Our sponsor, Triangle Credit Union, offers an online savings account with no monthly maintenance fees and only requires a minimum of $100 to open the account.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Business Funding and planning can be a stressful part of running a business. If you're new to the business world or a seasoned owner looking for more resources to expand your enterprise, this episode is for you.
In this episode I chat with Tuesday Perkins from the Small Business Administration about the many ways they work to provide the best tools and opportunities for anyone looking to start or grow a business.
Links:
- Learn more about Small Business Administration and it's resources for NH businesses
- Search the SBA calendar of events
- Contact Tuesday Perkins at tuesday.perkins@sba.gov or call her at (603) 225-1404
- Learn more about Triangle Credit Union's Commercial and Business Services
- Check out some of these other podcast episodes about business resources:
- Starting Your Business Relationship
- Boosting Your Business Resources with SCORE
- Why You Need a Business Exit Plan
- Steps to Start Your Own Business
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
- View episode transcript.
Banking technology has evolved immensely over the years. What once began in the 1980’s with dial-up services to access accounts on your home computer has developed into the extensive, and somewhat essential, online and mobile banking we use today.
Links:
- Learn more about Triangle's Online Banking and Mobile Banking tools
- Watch our Remote Deposit Capture tutorial
- Learn more about our Mobile Banking app and it's features
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Online Banking refers to transactions conducted through a financial institution's website via a web browser on any device with an internet connection (for example-- a computer, tablet, or smartphone). With online banking, you do not need to download an application which is why it’s a simple and popular option for many.
Mobile Banking is typically conducted through a financial institution’s mobile app, however many FIs also offer some mobile banking capabilities through SMS texts.
Online and Mobile banking is convenient for those who want to manage their finances from home or on-the-go. Both provide:
- Account Information
- Transaction History
- Fund Transfers
- Bill Pay
- Card Management
- Budgeting Tools
- and more!
Online Banking and Mobile Banking offer similar tools and features to keep your banking experience easy and convenient.
If you’re new to online or mobile banking here are a few of the features you should consider setting up and using right away.
- Text Alerts. For those who don’t have a smartphone, text alerts allow credit union members to receive notifications directly to their phone with an SMS text when large deposits or large withdrawals are made, weekly account balance updates, or when their account balance falls below a specific amount, to name a few. To sign up for these notifications, log into your online banking account (on your computer) and enter your phone number.
- Remote Deposit Capture. Through your financial institution’s mobile app, you can use remote deposit capture to deposit a check without stepping a foot into a branch. RDC typically only takes a minute or two which makes it a popular option for those with busy lifestyles. If you don’t have a smartphone, you can still deposit checks from home through your online banking account using a scanner.
- Push Notifications. Similar to text alerts, push notifications can be enabled to alert you when specific actions occur on your account. These can include spending transaction notifications, low balance, large deposits or large withdrawals, etc. To enable push notifications, log into your bank or credit union’s mobile app and toggle these notifications on.
Both mobile and online banking allow you to manage your money in ways that work best for you. If you haven’t created your online or mobile banking account yet, what are you waiting for? Take control of your finances today!
Set it up now at trianglecu.org.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If someone offered to pay you earlier than expected, wouldn’t you be ecstatic? If you have Direct Deposit with your employer, then you may have the option of getting paid up to two days earlier! Listen to this tip to learn more.
Links:
- Learn more about Triangle's checking accounts with Early Paycheck
- Download the direct deposit form to get started
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
This is Money Tip Tuesday from the Making Money Personal Podcast.
I know, getting paid up to two days early from your employer sounds too good to be true, but it is, in fact, true and here’s how it works: Most companies send payroll information up to two days before funds arrive. If your credit union offers Early Paycheck (or a similar product/service), the credit union can release your paycheck into your account early.
To take advantage of this, there are three requirements that must be available to you:
(1) You must have a direct deposit service set up with your credit union, which means your employer must offer direct deposit. If you’re not sure that your employer offers direct deposit, ask your HR department or manager if this is available to you.
If Direct Deposit is available, sign up as soon as possible. There are many benefits of Direct Deposit that will be presented later—at the top of list is Early Paycheck. Setting up Direct Deposit is simple. Fill out a Direct Deposit form, which you can get either from your credit union or employer. All forms pretty much have the same information but look a little different. You will need your routing number of your financial institution (this can be found on their website), the account number where you want your paycheck deposited (this is usually a savings or checking account), and a voided check.
(2) Your credit union or financial institution must participate in the early payment or paycheck option to have funds available for you. Availability of your payroll funds is based on the release of payment information. Sometimes there can be issues with the electronic transfers, so keep in mind that you may run into delays on occasion. If these issues are ongoing, you should contact your HR/Payroll Department or the credit union for additional information.
(3) Your company’s payroll must be on board with transferring the payroll files electronically. Many companies have third party services that process payroll for their employees. Payroll companies, like ADP, are consistent about processing and sending files in a timely manner.
Now that you know how it works, let’s go over some benefits of Early Paycheck with Direct Deposit:
First, it’s all about cash flow. The sooner you have access to your paycheck, the better—whether that means you use it to pay bills or your best friend for picking up the dinner tab last night!
Better cashflow usually makes it easier to manage your money because you know when funds are available to you. This is tremendously valuable when you are on a budget. Direct deposit makes your life so much easier! Your paycheck is automatically deposited at your credit union so you don’t have worry about remembering to deposit your check yourself!
Plus, electronic fund transfers are safe and secure. You don’t have to think about where your paycheck is or losing it! You also have access to your funds faster. When the electronic transfer is received and applied, your payroll funds hit your account without any hold restrictions, which means you can use your money as soon as it is deposited. If your employer offers Direct Deposit, take advantage of this huge time saver!
For those who may not have Direct Deposit available, we recommend Remote Deposit Capture (RDC). Most institutions require registration for this service, but once RDC is turned on, use your mobile banking to deposit checks from anywhere.
RDC is convenient. Just endorse your check (be sure to read the endorsement instructions within your app) and follow the photo prompts on your phone. The prompts will ask you to take a picture of the front and back sides of your check. Hit submit and you’ll get a confirmation that your check has been submitted to your institution.
For more information about RDC as an option, contact your credit union.
If you have any additional tips or would like us to cover a specific topic, email us at tcupodcast@trianglecu.org.
For more great content, be sure to subscribe to our Making Money Personal podcast wherever you listen to podcasts and follow us on Facebook.
Special thanks to our sponsor, Triangle Credit Union and to you for tuning in!
Have a great day!
When it comes to payment options you may think that credit cards are the most popular ways to pay. But you may be surprised that that’s not actually the case. If I told you debit cards are the top used payment method for Americans would that surprise you?
Links:
- Look into more credit/debit card statistics and trends
- Read more about American household debt statistics
- Learn more about our debit card features and benefits as well as Identity protection with our Better Checking account
- Check out TCU University for more financial education tips and resources!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
I think it’s safe to say that we all love to spend money and we certainly have a lot of options to choose from when we do so.
When it comes to paying credit and debit cards are the top preferred methods. But, which one do people use more?
According to a 2023 Forbes survey, 54% of Americans use a debit card as a primary payment method. That same survey stated that only 36% use a credit card (physical or virtual).
Why are debit cards so popular? Well, there are few reasons why people haven’t yet abandoned the debit card when they make purchases.
- Debit cards are more accessible. Because they're not dependent on a credit score, they’re available to people with lower or no scores at all. Even if your credit isn’t in great shape, you can still get one because all you need is a checking account. This makes them especially useful to teens and young people who haven’t established any credit yet. Debit cards give many people convenient access to their funds so they can pay online and in stores without needing cash or dare I even say it... a check.
One little caveat to remember though is that debit cards do not help you build credit so you’ll need to explore other options if you’re looking to establish or boost your credit score.
- Debit cards are just as convenient as credit cards. You can add to your phone’s wallet, use them in online checkouts and now the newest cards enable you to pay at contactless terminals. And just like many credit cards, you get access to card controls to turn it off and on, set up notifications when you make a purchase and set up travel alerts when you’re ready to venture across states or out of the country.
- You can still get rewards. Everyone loves to gush about the cool rewards they get through their credit cards, but with a debit card you can get rewards too. Your debit card likely participates in a rewards program that gives you a percentage of cash back or other special offers just for using it with certain vendors. At Triangle, we offer a Purchase Rewards program where you can earn a percentage back when you activate the vendor offer and use your card with that vendor.
- Debit cards don’t charge an annual fee. Popular credit cards that offer attractive rewards and offers typically come with an annual fee. The better the offers, usually the more expensive the fee. If you have one of these cards, you may be spending anywhere from $95 a year to over $400 a year. Debit cards don’t charge you anything to use them so you don’t have to worry about that annual surprise charge.
- Debit cards are quick to replace. If you lose it, break it or anything happens to it it’s really easy to get a new one. At Triangle we have Debit on Demand which offers instant issue cards. If you need a new card just walk into a branch and within a short time you’ll walk out with a brand new one. Try doing that with a credit card.
- And the last reason is probably the biggest one. Debit cards don’t contribute to debt. According to a Motley Fool survey, Americans are carrying over $17 trillion in debt, with just over 1 trillion of that being credit card debt. TransUnion reported that on average, individual card holders are carrying around $5,700 in credit card debt. If you’re debt averse or trying not to get deeper into debt, a debit card will be your best friend. Using a debit card forces you to pay closer attention to how much you’re spending to avoid overspending and makes it easier to maintain control of your finances.
If you have a debit card but aren’t using it much. I hope this tip will help remind you to take it out and use it a little more.
If you haven’t set one up yet here are just a few things to keep in mind when you get started.
- Remember to set up overdraft protection so you don’t get charged fees in case you accidentally charge more to your card than what’s available in your checking account.
- Make sure to register your debit card with an identity theft protection service like Triangle’s ID protect with our Better Checking account so it’ll be constantly monitored for fraud.
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Familiarize yourself with the card controls so you know how to turn your card off and on and to set notifications to stay on top of every transaction
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Last but not least, if you use a mobile wallet, remember to add your debit card so you can use it the next time you pay with your phone.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If you’re with a big bank that requires you to carry a hefty balance in your checking to avoid a maintenance fee, is it time for you to move your money?
Listen to this tip to learn how switching to a credit union can save you from the struggle and annoyance of high bank fees.
Links:
- Learn more about Triangle's checking accounts with no minimum balance
- Learn about Triangle's credit union mission and core values
- Read the Reuter's article about Bank of America's excessive fees
- Read the Investopedia article about the Benefits of Using a Credit Union
- For more financial education tips and resources visit TCU University!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
I was recently in a meeting and one of our branch managers mentioned there were several new account openings at her branch during the week. When branch staff asked these new members how they heard of the credit union, their answers varied. Some provided feedback that they saw us at some community events, and another responded one of their family members had referred us to them.
What was interesting is that while they had varied reasons for how they heard about us, their answer to the next question was the same. Her question was: why are you moving from your current bank to the credit union? All three answered: I’m tired of the high minimum balance requirement on my checking account. They moved their money—if you’re with a big bank that requires you to carry a hefty balance in your checking to avoid a maintenance fee, is it time for you to move your money too?
This is Money Tip Tuesday from the Making Money Personal podcast.
A minimum deposit for a checking account is not uncommon. Most financial institutions require a minimum deposit to open an account—whether that money is deposited into a savings or a checking. It’s this initial funding that establishes your account and relationship with the financial institution. According to Forbes, you usually need to make an initial deposit between $25 and $100 to open a savings or checking account. For other deposit products, such as Certificates of Deposit or Money Markets, the minimum to open those accounts is higher and varies depending upon terms.
For higher yield deposit accounts, such as Money Markets or Online Savings, the minimums are traditionally higher. The issue most consumers have with high minimums rarely involves these types of deposit products.
The frustration most people have is not about the initial minimum deposit, it’s about the required minimum balance in the checking account to avoid the monthly maintenance fee; sadly, this amount, for some big banks, has increased to unreasonable levels.
Most consumers are looking for excellent value. That’s why people bank at credit unions—typically there are fewer fees, or low fees and competitive rates for both deposit and lending products.
If you go back to our three new members, they were all facing increased minimum daily balance requirements with their checking because the balance on their regular checking, which was not high yield checking, increased to $1000. This means their checking account minimum increased to a level they weren’t comfortable with (and for some consumers, a balance that is unaffordable), which is why they decided to move their money.
So, what happens if your balance falls below $1000? The short answer is you will be hit with a monthly maintenance fee, which opens up a whole other concern.
Big banks are notorious for imposing big fees. Bank of America (BOA) was fined $250 million, earlier this month, for a series of financial violations, including junk fees.
According to Reuters, “Bank of America reaped hundreds of millions of dollars by charging multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022, the CFPB said in a statement. Consumers could not reasonably expect or understand they would be hit with $35 fees each time the bank declined to pay a single transaction, regulators said.”
If you find yourself at the mercy of big banking fees, and you’re tired of high minimum balance requirements on your accounts or transaction fees at the teller line, it’s time to move your finances to your local credit union because, honestly, we look at banking differently.
I work for a credit union, so I became a believer a long time ago, but for those who are exploring new options, the Credit Union movement was founded on the principle of “people helping people,” not feeing our members to death!
According to Investopedia, one of the top reasons to bank at a credit union is because of lower fees, “credit unions are free to pass surplus money to members in the form of fewer fees, more services, lower interest on loans, and higher dividends on deposits.”
Fees are the cost of doing business but for financial institutions with a conscience, there are limits. For instance, most credit unions are reluctant to raise fees and before any new fees are imposed, they are scrutinized at all management levels. Triangle Credit Union eliminated five fees this year; sadly we had to raise a loan origination fee because our costs increased exponentially.
If you’re already a member of a credit union, let me say, “Well done! You’re a financial genius!” If you aren’t, you’ve probably lost $16 while listening to this money tip! Just kidding.
Seriously, I have several friends who recently moved their accounts to a local credit union because of financial safety and soundness, lower minimum balance requirements in checking, and fewer fees. So, whether you’re just starting your financial journey or a seasoned professional with a great salary, credit unions are the right move.
Have any more great tips? If so, please contact us tcupodcast@trianglecu.org. For more great tips and full episodes, subscribe to the Making Money Personal podcast, wherever you listen to podcasts and follow us on Facebook!
Many thanks to our sponsor, Triangle Credit Union, and you—our listeners!
Have a great day everyone!
What matters to you matters to us as a campaign that our sponsor Triangle Credit Union introduced earlier this year. In an age of identity fraud and high stakes scams, we're going to dive into identity protection with Triangle's Product and Service Specialist, Jennifer Carter.
Stay tuned to learn how Triangle is protecting their members and why your financial institution should too!
Links:
- Learn more about our Better Checking account with Identity Protection
- Learn more about why you should consider identity protection for you and your family in our past podcast episode: Why You Should Consider Identity Theft Protection
- Log into your ID Protect account at idprotectme247.com
- Explore more financial education resources at triangleuniversity.org
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
If you want to boost your business’s brand recognition and get more attention from potential clients or customers, you’ll need to put some effort into marketing.
You may think that marketing isn't possible without a hefty budget, but that can’t be farther from the truth. There are ways to market your business in a cost-effective and budget friendly way.
Links:
- Explore some of these popular tools and websites to market your business on a budget:
- Canva
- Envato
- Fiverr
- Wix
- Squarespace
- Wordpress
- Vistaprint
- Custom Ink
- For more financial education tips and resources visit TCU University!
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to marketing your business, it doesn't have to be expensive or complex to reach new potential customers. Marketing can make business owners feel intimidated and hesitant to take the next step. However, with certain sources, marketing your business couldn’t be much easier and once you have a plan, promoting your business will get better over time. Let’s look at 7 elements to help market your business on a budget.
- Consistent Branding
Having good, consistent branding will help your business become more recognizable to current and potential customers. If you're just starting your business, you may not have branding guidelines established yet. If you’ve been in business for some time, you probably already have your brand logo, colors, and fonts in your marketing materials. These marketing materials are your website, social media platforms, print and digital materials, promotional items, and business emails.
If you want to create your logo on your own, there are free websites and applications available to you. Canva and Envato are two platforms that allow you to customize or create free logos for your brand. These platforms also provide templates for your marketing materials including website, social media, and print/digital materials. If you’re new to creating branded content, this is a great way to dive into it while keeping your branding consistent.
If creating a logo and other branding material isn’t for you, you can also hire a graphic designer to create your logo and marketing materials for a low cost. Fiverr is a great resource to find graphic designers that will create a logo and other marketing materials for you. If you choose to use Fiverr or something similar, make sure you choose someone that has a design style you like and stay firm on the finalized designs to ensure they deliver what you’re looking for.
- Create a Website
When it comes to marketing your business, creating a website is a great place to start. Your website does not have to be too complex; it can simply provide basic information about your business, product or service, the team, and your contact information. As your business grows, you can advance your website by including a blog, Q&A, or even a shop page to sell your product.
When considering the domain, or URL, for your website, make sure it matches or is close to your business’s name. For example, for a business called Dover Cold Brew Company, the domain name should be www.dovercoldbrewcompany.com, www.dovercoldbrewco.com, or www.dovercoldbrew.co.
Take some time to think about what you want your website to look like and the story you want to tell. Websites don’t need to be completed. For a small business, 3-5 pages should be plenty. Make sure you focus on the products or service you’re selling and how potential customers can get in touch with you.
Once you have an idea about the content you want to put on your website and the domain name, you will need to decide which platform you will build your website with. Wix, Squarespace, and WordPress are three popular website-building sites. These sources are great for business owners that are
looking to promote their products and service without the hassle of coding the web pages themselves. There are plenty of templates that can be dragged-and-dropped from these sites, and all you will need to do is input your information. If you prefer, you can outsource this task as well by hiring a web designer to design your website.
*Important note: domain names do have a price tag depending on the website platform or web host you’re using. For some platforms, the domain name is free for the first year and then will charge a yearly fee afterwards.
- Social Media
Social media is a fantastic way to promote your business with little to no cost. Facebook, Instagram, YouTube, and LinkedIn are the most popular channels when you are first starting out. The social media content you post on these channels can cover various aspects of your business.
YouTube is a great platform for long-form, educational videos. Instagram is useful for photos or short-form videos that focus on the features of your product or service. Facebook is a platform for photos, videos, or longer posts that include links for consumers. For company related developments, new products/services and networking with similar businesses, use LinkedIn.
A good step is to develop a strategy plan for posts across all platforms to show off your business using photos and videos along with great captions below them. These social media posts can use templates and formats from Canva, a free source that is quickly accessible and easy to use for anyone creating content.
- Email Marketing
Email marketing is direct messaging to past customers or potential customers that have signed up to receive more information on your business, products, or services via email. You can utilize this form of marketing to promote new releases or send coupons/discount codes to entice your customers to make more purchases. These keep your customers updated and can attract them to come back and purchase more of your products or service. Email marketing can also be a great way to advertise events or sponsorships.
- Free Trials & Coupons
Depending on the product and service your business provides, customers are always going to be cautious about what they're buying and who they’re buying from. If you offer a free trial or a coupon to your business or service, it can comfort potential customers and gain trust in you and your business. For example, if you have a home improvement business, it would be beneficial to offer a free roofing consultation rather than the client being hesitant about buying a new roof. These offers allow customers to see what your business is all about and what your product or service can do for them.
- Events & Sponsorships
Participating in or sponsoring local community events can bring buzz for your business and can be a great way to network with potential partners while connecting with your community. Local events will also give you the opportunity to interact with current customers and make that brand trust stronger. Events give you the chance to provide giveaways such as promotional items or print materials that go
into further details on your products and services. Don’t forget to bring your business cards to pass out to potential customers or vendors.
- Print Materials & Promotional Items
Print materials and promotional items are great to attract customers and make your business stand out. This can be a brochure, a handout flyer, or even a small giveaway like a pen with your business’s name across it. These materials can be created by sources like Vistaprint, Canva, and Custom Ink.
All these elements are essential to marketing your business without breaking the bank. Affordable resources can help you improve your business, gain customer attraction, and gain trust in the community. Research will always be an important factor towards these marketing elements to find the right source for the right price.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you ever run out of something and wished you had bought more when you were at the store? Buying in bulk can often fix this problem. You get more bang for your buck, with bulk prices generally being cheaper than buying the same amount of the item individually.
Plus, you also have a bigger supply and won’t have to go shopping as often. However, there are some items that you do not want to buy in bulk as they just aren’t worth it. Here are some items to put on your bulk shopping list, and some you should remove.
Links:
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
First on our bulk shopping list is food. Food can be tricky when buying in bulk, as it can expire if you don’t eat it fast enough. Canned goods are a great food to buy in bulk. When buying them in bulk, the prices are typically 30% percent cheaper than buying them individually. Always check the expiration date on the cans first, as you don’t want to buy a whole bunch of them if you don’t think you can eat them all before they expire.
If you have a big freezer, buying meat in bulk is a great idea. If you go to a local butcher store, you can get large quantities of meat for cheaper prices than you find in a grocery store. However, you may want to get a vacuum sealer to avoid freezer burn.
If you drink coffee once (or twice) a day, you should also buy that in bulk. Buying individual bags, pods, or drinks can quickly add up over time. Buying it in bulk is cheaper, especially if you drink a lot.
Pasta is another food you should buy in bulk. Pasta doesn’t take up a lot of space in your pantry, plus when it is sealed properly, it can last up to two years.
While not for you to eat, pet food is a great investment when buying in bulk. Chances are you feed your pet the same thing every day, so you know that you will have to keep buying it. Buying pet food in bulk allows you to save money on pet expenses and keep your pet happy.
However, there are definitely some foods that you should not buy in bulk. One example of this is fresh fruit. Fresh fruit doesn’t last very long, and chances are you won’t be able to eat all of it before it expires. Buying fruit in smaller quantities allows you to eat all of it before it expires. Plus, when buying fresh fruit in bulk, you most likely won’t inspect the fruit to see if it’s good to eat. If you still plan on buying fruit in bulk, try buying frozen fruit, as it will last longer.
Another food you shouldn’t buy in bulk is nuts. Although it is tempting since they are a lot cheaper to buy in bulk, the high fat content in nuts can make them turn rancid faster. Similarly, spices are another item to not buy in bulk, as they begin to lose their flavor after 6 months. A good rule of thumb is if the food has a close expiration date, don’t buy it in bulk.
Moving on from food, paper materials are always a great purchase in bulk. Tissues, toilet paper, and paper towels are a great investment, as you will always need them, they don’t go bad, and they are cheaper when you buy them in bulk.
Likewise, all cleaning supplies are great and cheaper in bulk. This can include laundry detergent, soap, shampoo, toilet cleaner, and even toothpaste.
However, if there’s an item that you can buy in bulk but don’t use very often, don’t buy it. Just because it might be cheaper in the long run, doesn’t make it worth it. Remember, you still have to store all of this stuff at your house. Only buy what you know you will use.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
For many of us, our pets are a part of our family. They bring us excitement and comfort that we enjoy for many years. But pets also come with costs.
With all the costs you need to dish out for pets, like grooming, food, supplies and more, another expense to consider is pet insurance. With the costs already associated with owning a pet, is it worth paying for pet insurance too?
Links:
- Explore more about the pros and cons of pet insurance
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to affording the things we want in life, our pets likely sit close to the top of our list.
But as pet owners often learn, having a pet comes with responsibilities that can take up a lot of resources. One of these responsibilities is keeping your pet’s health which may wind up costing you money in vet bills and care.
The reality is that pet bills can be expensive.
It can be devastating when your pet faces a crisis that may leave you struggling to decide between your pet’s life or your financial health.
Let me tell you a story. A friend of mine got a new puppy and within weeks of getting this little bundle, the puppy had a serious emergency and my friend had to rush him to the emergency vet. The vet was able to save the puppy’s life, but my friend was left with a bill for over 60K for all the costs associated with the care and treatment.
Regardless of whether you think that’s enough or too much money to spend on an animal, before you pass any judgement, ask yourself how much you’d be willing to pay for your animal and whether it would be worth paying for coverage in case a situation like this arises.
There’s no right or wrong answer on whether to buy pet insurance, but if you’re serious about dishing out money for expensive care and treatment, it may make sense to purchase pet insurance.
If you choose the right option, it can give yourself a healthy financial buffer to avoid getting buried in pet medical bills.
There are three types of pet insurance coverage you should be aware of.
The first is accident-only. This covers only accidents and includes any testing, procedures and medications related to the accident. It can cost roughly $130/yr for cats and $239/yr for dogs.
The second is accident and illness. This one includes everything covered in an accident-only policy. It also covers common and serious illnesses your pet may endure as well as certain hereditary conditions. It covers any testing, procedures and medications related to anything from accidents to illnesses and can cost roughly $342/yr for cats and $583/ for dogs.
The third is routine wellness. This covers routine and preventative care as well as wellness care like routine checkups, vaccines, flea and heartworm prevention. It does NOT cover illnesses and accidents and is considered more of an optional add-on to existing plan coverages
If you’re considering pet insurance, here are a few ways to determine if pet insurance is worth it for not only your finances but also your four-legged friend.
Pet insurance does depend on a few things.
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It depends on the type of pet you have and it’s specific needs. Larger animals like dogs will generally cost more in premiums than smaller animals like cats. In many cases, companies do not cover animals other than cats or dogs so you may have to do some hunting to find a company that might cover your specific pet.
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It depends on how much are you comfortable spending on pet expenses. Sometimes a $1,000 bill is doable, but is a $10,000 bill worth it? If you don’t want to pay for pet insurance, you may want to put some money aside for your pet in case something does happen. Determine your financial limit then set up a sinking fund specifically for pet costs so you can cover any unexpected issue that may occur.
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It’s depends on how old your pet is. The age of your pet will determine how much you’ll pay in premiums. The younger your pet is when you buy insurance, the cheaper your premium will be.
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It depends on what type of breed your pet is. Some pet breeds are more prone to illnesses and health problems than others. If your breed is more likely to develop certain medical issues with age, you may need to prepare for some of the health care costs associated with those genetic pre-dispositions that can show up down the line.
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It depends on whether your pet has pre-existing conditions. Not all insurance may cover these, so make sure you know before signing up for something that won’t cover your costs.
Taking care of your beloved pets and your financial health should both be at the top of your priority list. That’s why it’s important to weigh the options to make sure you take the best care of not only your pet’s health but your financial health as well.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you been burdened by an ever-growing credit card balance? According to CNBC, the average American carries around $5,733 in credit card debt. Some have more, others less. But almost everyone wants it gone.
Believe it or not, there’s a simple method to reversing that growing credit card debt. It’s not the easiest method, but once you perfect it, you can kiss all that accumulating debt goodbye.
Links:
- Learn more about Triangle's Checking Account and how to get your debit card
- Follow us on Facebook, Instagram and Twitter!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the making money personal podcast.
How many credit cards do you have?
If you’re like me, you probably have at least two or three.
Do you pay them off regularly?
I’ve been one to pay my card balances regularly, but with increasing costs of goods and the occasional impulse purchase, a couple small vacations and a few home repairs, those balances grew faster than I was able to keep track of.
So I started the credit card juggling act.
If one card balance was coming due, I’d simply start putting charges on a different card. I’d pay off the card balance that came due but continued to add other cards in the mix until I was juggling four separate cards with revolving balances all due at different times of the month.
Talk about a headache. Not to mention how confusing it can get trying to make sure I had enough money in my bank account to cover each balance as it came due.
I crunched a lot of numbers, studied calendars, set up notifications to keep myself on track. And the credit card carousel went around and around and around.
As I worked my way through these financial gymnastics month after month, I started to realize my balances weren’t going down. Instead, my debts were accumulating week by week. As a result, I needed to do more math and pay even closer attention to the charges I was making.
But they were necessary expenses. Or so I thought. Aside from groceries the other highest expense category was dining out. And we all know that hasn’t gotten any cheaper over the last year.
That’s when I decided, in order to keep my financial health in check, I needed to make a change. And I’m glad I did.
If you’re riding that carousel too and juggling credit cards month over month, accumulating debts and getting stuck paying interest every month, then it’s time for you to make that change too. With some planning and discipline, it’s entirely possible and I’ve been able to eliminate my credit card debt doing this.
This is one simple change even you can make and you’re likely already holding the key.
The key I’m talking about isn’t a fancy debt consolidation loan or balance transfer, though sometimes those help, this one is common, convenient and doesn’t cost a thing. It’s your humble debit card.
As my revolving credit cards kept digging me deeper and deeper into debt, I realized it was time to break out that dusty debit card sitting forgotten at the bottom of my wallet.
This little card was going to save my accounts from sinking deeper into debt.
Now that I had the tool, the next thing was to come up with a strategy on how I would use it to pay down the debt.
This is where the planning and discipline came in.
The plan was simple. Any and all new charges had to be put on this card. No more credit cards allowed.
The practice was a little harder to implement.
All of my charges went on debit card.
I didn’t add any new charges to my credit cards. Yes, I had to say goodbye to earning points and miles, but for the sake of financial security, it’s the better choice.
I cut back on things I was purchasing. I’d scope out the deals, avoid impulses, stopped buying extra things online. Essentially stretched my dollar a little bit more.
I had to keep a close eye on my checking account because once that number went too low, I could no longer spend any more. All I could spend was what I had.
Then as paychecks came in, I would pay any credit card bill I had as best I could.
After making sure I had enough money in my checking account to cover necessities, I would put extra towards any of my remiaing credit cards.
If I could throw an extra $100 towards a bill I did. If I could throw an extra 50 I would. It depended on how much I had at the time but any amount counted.
This process took a few months to work through, and for some it might take longer than that, but if you plan it right and stick with it, it will work.
Credit cards give you a lot of convenience, but they often tempt you in more ways than you realize.
The juggling act can work for a time, but it can send you dangerously towards racking up more debt than you can pay off.
Using your debit card keeps your spending in check because it stops you from spending money you don’t already have. You’re forced to make more thoughtful purchases and pay closer attention to the items you buy.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If you’ve been crunching those numbers lately trying to figure out how you’ve been spending your money you might have come to the realization you need to cut some expenses.
With a quick review and a few simple hacks you can cut back on unnecessary spending and free up some cash.
Links:
- Resources and statistics mentioned in this tip:
- Interesting coffee facts
- Stats on the cost of dining out
- Forbes survey results on the cost of streaming services
- RunRepeat survey results for the cost of gym memberships
- Find how much handyman and home jobs on AllBetter app might cost you
- Learn how much you could save shopping secondhand or used items
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Saving even a little bit of money these days can make a world of a difference for your finances.
Here are a few places you can look to start if you’re ready to cut back on your spending.
Number 1: Consider cutting out that regular cup of coffee.
If you’re used to buying your daily cup of joe, you may be spending more than you realize.
As of 2023, the average cup of coffee in the US costs $3.28. If you’re a regular drinker, that means you spend roughly $10 – $16 a week depending on how often you purchase your coffee. And that doesn’t even include tip.
If you’re buying your morning brew 3 times a week that means you’ll be spending roughly $520 a year on coffee. If you buy one every day of the week, then you’re spending around $832 a year on your coffee.
If you don’t like the thought of spending half a grand to almost a grand on coffee a year, then there’s an easy fix for you. Simply cut back buy buying less frequently or make your own coffee at home.
A cup of homemade coffee can cost between 18 - 27 cents. That’s a big difference from buying one from your favorite coffee shop.
Number 2: Dial back on dining out. This one is pretty obvious. Many of us spend more than we realize on dining out.
According to the Bureau of Labor Statistics, the average American dines out 5.9 times per week and the average household spends roughly $3,500 a year on it. That’s around $291 a month.
Are you comfortable affording that?
If that seems like too much for you to afford, then it’s time to take a closer look at how much you’re spending on food you don’t cook at home.
If you’re not ready to cut it out entirely, because it provides some relief from a hard day’s work, try cutting back on the number of times you go out, choosing cheaper establishments, or cutting out expensive options when you do go out like alcoholic drinks, apps or desserts.
Number 3: Cut back on streaming services, or other subscriptions.
If you’re like me, you’re probably paying for more than one streaming service every month. According to a 2023 Forbes survey, the average person is subscribed to 2.8 streaming services with some subscribing to five services at a given time.
The survey also showed that the average person spends $39 a month on streaming services which can add up to $486 a year and it also showed that 47% of people are paying for streaming services that go unused.
If you find you’re paying too much simply cancel some and stick with the one you like the most or cancel all and opt for free TV instead. You’ll likely have to endure commercials, but that can be a small price to pay for the money you’ll save over time.
Number 4: Lose your unused gym or fitness memberships.
Gym memberships can be costly.
According to a 2021 survey done by RunRepeat, the average cost of a gym membership is around $37.71 a month. That comes to about $452 a year.
The saddest part of this is that most people don’t end up using the membership as often as they planned, with many not using it at all. Even if you’re only paying $10 a month fee, it’s still a waste.
Pay attention to how much you’re dishing out for your fitness and if you find you’re one of those people paying for something you’re not using, cancel your membership and opt for other, cheaper ways of training instead.
Walking or running outside, getting involved in recreational activities, even free YouTube videos are great ways of keeping up with your fitness goals without paying for an unused membership.
Number 5: Learn how to DIY things. In many cases, it’s cheaper to do a job yourself than to pay someone else to do it for you.
Things like learning how to change your own oil, repair drywall, change out light fixtures or unclog a sink can save you a lot of money when you take a little time and effort to do it yourself.
Allbetter app, an app for handyman and other services, lists some of those basic jobs starting at $100. If you’re up for the task and want to save a little bit of money, look up how to do the job or repair on YouTube or other websites to take it on yourself. You could even ask a friend or family member to guide you if they have experience in home repair.
If you’re currently paying for cleaning services you can cut back by budgeting some of your time to handle those chores yourself.
Taking over some of those basic home projects on your own instead of paying someone else to do it for you can save you hundreds of dollars a year.
Number 6: Shop for secondhand items.
For certain things secondhand and gently used items can be just as good as new but with a lower price tag.
Some of the best items to buy used are gym equipment, hand tools, and furniture.
For items like these buying used can save you around 25% off the retail price. Try searching places like Facebook Marketplace or Craigslist if you’re hunting for a bargain on used items.
Another favorite for many people is to buy used clothing at retail thrift shops or online apps like Poshmark and others.
If you’re a savvy recommerce shopper you can save around $150 a month which adds up over time to around $1,760 a year on average.
Be careful when buying from secondhand sellers to make sure you’re not getting scammed and if you’re looking at something electric or mechanical, remember to test it before buying.
To wrap up, finding ways to cut costs may not be too difficult when you know where to look. Stay aware of your expenses, budget and adjust your lifestyle accordingly because cutting back on the small stuff can save you more than you realize in the long run.
To quote Ben Franklin: "Small expenses add up over time and can slowly sink our money into the abyss. The worst part, we typically won’t know until it’s too late."
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Real Estate Investing was once out of reach for many of us, but not so much anymore. In this episode we talk with Mariana Silva, local Realtor, real estate investor and owner of Invest Realty Group, on the strategies she's used to build her impressive real estate portfolio and how you can too.
Links:
- Visit Invest Realty Group's website
- Follow Invest Realty Group's Facebook, Instagram, Twitter and YouTube Pages
- Contact Mariana Silva
- Learn more about Triangle mortgages
- Follow Making Money Personal on Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Starting and running a small business is an exciting but often intimidating venture. If you’re gearing up to start your own small business, it’s important to make sure you have the right business professionals on your team, especially when it comes to your money.
Links:
- Resources and tools from the SBA
- Learn more about Triangle's Business banking products and services
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast
Launching your new business can be quite a challenge. Determining your product offer, doing market research, and building a brand are all important hurdles to jump. And of course, there’s the funding part. Determining whether you’ll bankroll it yourself or take out a loan is an important question you’ll face when starting a business.
Fortunately, having the right business team on your side will make a huge difference when it comes to funding.
If you’re a new small business owner, you may not know where to begin when it comes to getting a loan for your business.
There are many financial institutions to choose from but what should you consider when choosing a financial institution for your business?
Look for an institution that has a relationship with the Small Business Administration or the SBA. This reflects the credibility of the financial institution and opens doors to all kinds of additional resources and lending tools they’ll be able to assist with.
Also, when it comes to business funding, look especially for affordable rates and low fees, both of which credit unions have a strong reputation of offering.
The next thing to look for in building your business relationship is the convenience and responsiveness of your lender.
Every business is unique. For some business owners, this may be as simple as easy access to a retail branch, but for others it may be more important to secure that trusted relationship with a financial partner and loan officer.
The right financial partner for you will offer the best products and services for your business while also being approachable and responsive. Smaller financial institutions, like Triangle Credit Union, are perfect for business owners who prefer a local, full-service commercial loan department to take care of all their needs.
Another thing to look for when building your business relationship is to have a dedicated loan officer that will be right by your side while your business grows.
Loan officers will take the time to get to know you and your business goals while also providing suggestions for products and services that will provide the most benefit for your business.
They also bring a large amount of business experience and can connect you with other professionals that can provide business services beyond financial needs like business exit planning, accounting, and legal services.
If you’re excited to launch your new venture and are ready to move forward building your business relationship here are a few simple things you can do to prepare for that first business meeting.
If you’re looking for financial backing, the first step is to contact the Commercial Loan Department at Triangle Credit Union or your chosen financial institution. You’ll be connected with a Commercial Loan Officer who will conduct a discovery interview to understand what your needs are.
During this interview, you will be asked about the history of your business, the current financial trends, the current ownership structure, and what the financial needs are for your company.
Depending on the loan products that you’re looking for, you will typically need to provide at least 2 years of federal business taxes and personal taxes as well as a set of recent financial statements.
If your business is brand new, there will not be any financial history to examine. Therefore, the lending decision will rely heavily on personal collateral, personal credit history, a strong business plan, and how much cash you are willing to put into your business (ideally 10% of the loan you’re looking for).
A strong business plan will tell the story of your business. It should include the vision of your company and explain why you believe you will be successful.
A thorough business plan should also include a competitive analysis, pricing breakdown, staffing needs, and long-term planning that includes economic downshifts and upswings. This allows the Commercial Lending team to understand how you would be able to pay back your loan if something were to happen.
If you don’t have your business plan in writing just yet, our Commerical Lending department at Triangle Credit Union will provide you with a blank form to fill out with all this information.
If you have a vision for your business, working with a financial institution like Triangle Credit Union can help you on your journey to success. In addition to commercial loans, we also offer business cash management, payroll, and merchant services.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Summer is in full swing! School is on summer break, and you might be getting ready to take a vacation.
With all the events going on in the summer, it can feel like you’re constantly spending money, but it doesn’t need to be that way.
We have 5 tips to saving money in the summer while still enjoying fun activities!
Links:
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
- Don’t stop budgeting
We understand-- when the weather gets warmer, it’s hard to keep up with your budget. However, it’s important to stay with your budget, even in the summer months, so that you don’t stray away from your financial goals.
Use the longer days to your advantage. Once a week, wake up slightly earlier than usual, make your coffee, and grab your budget. If you have a deck or patio (and the weather is nice), take a step outside and enjoy nature while you deal with your finances. It may sound simple but you’re more likely to keep up with your budget if you make it enjoyable.
- Go on a picnic
A picnic is a simple and easy activity that can be extremely fun and low cost for you and your family (or even your friends)!
Pack some sandwiches, snacks, and beverages, bring some lawn games and don’t forget the blanket!
Not only is this a great way to spend a few hours with your loved ones on a sunny day, but it won’t cost as much as it would going out to lunch. If you can do this once or twice a month during the summer, you’ll be able to cut back on your eating out spending while getting some sun at the same time.
- Make your party a potluck
If you’re planning on throwing a party this summer, consider asking your invitees to bring a dish.
This will cut down on your costs significantly. Making your upcoming party a potluck also ensures that your guests have something they enjoy eating. This is a great ice breaker if you are inviting people who may not all know each other, and you may even end up with new recipes to try another day.
Making your party a potluck can ease the mental and financial stress that often accompanies party planning and allow you to enjoy the time with your friends and family.
- Check your local library/town website for free community events
Your local library will have information on free events happening in your city or town. These events can include children’s movie nights in the park, free festivals, free concerts and much more!
Many libraries also offer discounts to local restaurants, zoos, and amusement parks which will also help you save money.
If you need help keeping track, check out your town’s website for a calendar of events and more information.
- Budget your vacation
Many people choose to take family vacations in the summer, especially if they have children since kids are on break during the summer.
Vacations can be costly but that doesn’t mean they need to be. You can still go on the summer vacation you desire without breaking the bank. Check out our blog “How to Budget for Your Summer Vacation” at triangleuniversity.org for more tips on saving money for your summer vacation.
If you have any additional tips or would like us to cover a specific topic, email us at tcupodcast@trianglecu.org. For more great content, make sure you follow us on Facebook!
A special thanks to our sponsor, Triangle Credit Union and as always, thank you for listening.
Marketing your business can be challenging. There are so many tools out there not to mention the various strategies you'll need to develop in order to ensure your efforts bring results.
In this episode, Terri and I are chatting about the top ways to measure your marketing and discuss some of the different tools you can use to boost revenue and expand your business reach.
Links:
- Track website data with Google Analytics
- Track email and other marketing channels with Constant Contact
- View, schedule and track multiple social channels with Hootsuite
- Tools to do competitive analysis and other types of marketing research: SEMRush, BuzzSumo, Brand24, Social Status
- Learn more about Triangle business services for other business and commercial needs
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Have you been exploring the Internet to find easy and fast ways to make extra money on the side? If you’re currently hunting for these opportunities, there are a few precautions you'll need to take first because some of the side hustles you’re considering might be scams.
Links:
- Dog walking and pet sitting opportunities: Rover, Wag!, petsitter.com
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Now more than ever, people are trying to make more money. There are many motivations to do so: some want to pay off debt, while others want to put more into savings and invest more to prepare for retirement; the list goes on and on.
Many of these motivated people are earning more money with “side hustles.”
Side hustles are added forms of employment that differ from someone’s full-time job. These aren’t typically the same as part-time jobs because side hustles offer more freedom, flexibility, and control that one might not be able to get with other opportunities.
There are various options when it comes to side hustle; for those who are considering taking one on, please research these opportunities thoroughly to avoid getting scammed!
Some job scams are easy to spot. The jobs are promoted as quick and easy ways to make large sums of money which easily raise some red flags.
Unfortunately, there are some scams that are cleverly disguised as side hustles and before people realize, they have already been taken advantage of.
Job Scams You Should be Aware Of:
- Mystery Shopping: While some mystery shopping jobs are legitimate, there are companies that will try to scam you. Once you sign up, they will send you a check to deposit into your account then instruct you to head to a specific store to test out their money transfer service by transferring part of that money back to them. Unfortunately, the checks turn out to be fake. By the time the bank realizes it, you’ve transferred your own money and are also on the hook for the rest of the money you deposited.
- Medical Billing: It seems like a simple enough job—working from home entering data and handling medical billing. Once you’re “offered a job”, you’re asked to pay upfront for supplies, special software, or specific training or certifications. The scam is: after you complete these requirements, there are no medical billing jobs for you to do.
- Multi-Level Marketing: Often referred to as MLM, Direct Sales, or Network Marketing, these types of companies all have the same business model, which is to sell products and recruit others to do the same. The promise of time and financial freedom can be too wonderful to resist but the truth is, only 25% of people in MLMs make a profit; of that 25%, only 3% make more than $25,000/year. You may be enticed to join a network marketing company, but the reality is you won’t make the money you’re promised.
Not all side hustles are scams though. There are many legitimate jobs you can begin today to make some extra money.
Side hustle ideas that are NOT scams:
- Dog Walking/Pet Sitting: If you’re passionate about animals, dog walking or pet sitting are great ways to make extra money in just a few hours. Pet owners are always looking for reliable people to take care of their pets—and that includes walking and setting up specific play times or watching them over night. If you know people who have pets, you can reach out to them and offer your pet sitting services. Another way to build clientele is through apps such as Rover, Wag! or PetSitter.com.
- Food/Grocery Delivery Driver: Food and grocery delivery have become increasingly popular since the pandemic and this is a great way to earn some money when it fits into your schedule. Typically, these services offer quick and easy sign up. If you live in a city, you can deliver on bike or a scooter. Although the compensation structure differs between companies (some pay weekly while others allow you to cash out immediately), drivers can expect to keep 100% of their tips on top of other offers and potential base pay.
- Car Detailing: Interior and exterior car detailing is something that many people can do, they just don’t want to. That's why car detailing is a great side hustle for someone who has the time and space for it. This side hustle can be started without spending a huge amount on cleaning supplies and the cleaning supplies that you do buy can be used for multiple cars!
Research is key! Before you start any new job, you should always do some of your own research and get any questions you have answered.
Top Tips to Avoid Being Scammed:
- Never deposit a check with the intention of sending that money to someone else
- Be aware if someone tells the job will make you money quickly
- Don’t pay for certifications or trainings with a promise of unlimited jobs available after completion
TRUST YOUR GUT! If something doesn’t feel right, it’s okay to walk away and find another opportunity.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
As credit card fraud continues to impact people year over year, it’s important to keep your cards and information as secure as possible.
Fortunately, there are some very simple and easy things you can do to keep your cards, physically and virtually, out of thieves’ hands.
Links:
- Learn more about Triangle credit cards and their benefits
- Learn more about Google virtual cards through Google Pay
- Learn more about Triangle's Better Checking account and it's identity protection benefits. Already registered? Log into idprotectme247.com to access your benefits and register cards.
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Of the types of identity theft out there, credit card fraud comes in at #2 on the list of most common types of identity theft just below government docs and benefits fraud (according to a 2021 FTC survey).
Card fraud can happen to anyone using their cards physically in-store or virtually online.
May steps have been taken to make physical card transactions more secure like EMV chips and contactless card functions which shelter your transaction behind layers of encryption and security.
But, even with those new technologies, thieves still find ways to try to steal your info. Things like card skimmers at gas stations or RFID scanners can still be used by thieves when you’re out in public.
Using your card online can be even trickier, because you could accidentally use your card on a fake website, or your info may get picked up in a data breach and sold on the dark net for someone else to use.
Luckily, the growing awareness of credit card theft has led to many actions and tools you can use to keep your cards as secure as possible.
Here are 6 things you can do to heighten card security.
- Number 1: Use an RFID protection sleeve or wallet. Cards can still get skimmed if you’re in public and someone gets close enough to scan it with a certain device. Protecting your card in an RFID protection sleeve or wallet will shield your card if you’re ever in crowded places where someone could try to steal your information.
- Enable card controls and turn off unused or rarely used cards. The ability to turn your card on and off can make a world of a difference when you think your card number may have been stolen. Check your card apps or websites to see if you have card controls and turn off any unused or rarely used cards. This will ensure that even if someone gets ahold of it, your card cannot be used.
- Add your card to your phone’s mobile wallet and leave your physical card at home. Paying with your phone is super convenient and really secure. If you want to keep your cards safe from theft, add them to your phone and pay with the added convenience as well as security. Try not to lose your phone, but even if you do, your digital wallet is protected by biometric or PIN security making it hard for criminals to get access.
- Make sure you have notifications enabled with your card. This means you’ll receive a text message every time your card is charged with information on where it’s been used and the dollar amount charged. It’s a great feature to have because if you get an alarming notification of a charge you didn’t make you can act immediately.
- Do not save your credit card information in online checkouts. Use a payment processor like PayPal or Venmo or use a virtual card. If available, you can enable them through your card provider. Companies like Capital One and even Google can give you an option to enable a virtual card when you checkout.
- Register your cards with an identity protection service like ID Protect. If you have a Better Checking account you’re halfway there and have access to this valuable tool. If you’re registered with IDProtect simply log into idprotectme247.com and set up card registration within your profile. If your identity ever gets compromised, you’ll need to make one phone call with IDProtect who will help close all your cards and reissue new ones in a snap. Saving you time and anxiety. Contact Triangle Credit Union if you have any questions about getting set up.
When it comes to your credit cards, you want to make sure they are as protected as they can be. With all the ways to lock, store and use your cards, you can now take more steps to safeguard your cards from theft.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s quite common to use the terms financial advisor and financial planner interchangeably, but did you know that there are differences between the two? Both can guide you on your financial journey, but there are some key differences between them.
If you’re looking for someone to take a look at your finances, but are not sure if you want a financial advisor or a financial planner, here’s what you need to know.
Links:
- Learn more about Triangle's wealth management services
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
First, let’s take a look at what a financial advisor is and what a financial planner is. A financial advisor usually helps clients with one-off investment planning and other financial matters. They evaluate your financial situation, where you want to be in the future, and give advice to help you build wealth. Financial advisors are usually required to have passed licensure and certification exams to give advice. Financial advisors usually charge an annual fee for their services which can range from 0.5% to 1% of your assets that they manage. Some financial advisors may also charge commissions on products they sell, like mutual funds or annuities. These commissions can be as high as 6%.
A financial planner typically creates a holistic plan that will help you and your finances in the future. They take everything into account, from savings and investments to retirement and estate planning. Financial planners are usually certified, the most prevalent being Certified Financial Planner, or CFP for short. Many financial advisory firms have certified financial planners on staff. If a financial planner is giving investment advice, they need to register with the Securities and Exchange Commision first. Financial planners charge fees for their services, and depending on the services, the fees can be monthly, quarterly, annually, or project-based. Like financial advisors, financial planners can also receive commissions on the products they sell.
So how can you decide if a financial advisor or if a financial planner would work best for you? Both can help you with your finances, but it all depends on your circumstances and what you want to do with your finances. A financial advisor is great for short-term projects and investments. If you are already comfortable in your financial situation and are just looking for extra guidance, a financial advisor is the way to go. A financial planner is great for developing a long-term, comprehensive plan for your future. If you are going through any major life changes such as going to college, buying a house, getting married, having a baby, or retiring, it might be a good idea to talk with a financial planner.
Before you pick the financial advisor or financial planner that will help you with your finances, there’s a few things you should look for. First, make sure that they are licensed and check their credentials. Ask them about their experience with finances and make sure that they would be a good fit for you. Make sure you understand what services they will provide and how much it is going to cost you. Remember, if you don’t feel comfortable with what they have to say, you don’t have to choose them. This is your financial future.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Is the convenience of buy now pay later checkout options all that it’s cracked up to be? Keep listening to learn the pros and cons of buying now and paying later.
Links:
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When online shopping, you might have noticed an option to check out with Afterpay, Klarna, or Affirm. These are the most well-known Buy Now, Pay Later providers.
Buy Now, Pay Later (BNPL) is a way to finance purchases so that you can pay for them in weekly, bi-weekly, or monthly installments rather than paying in total at the time of purchase.
This system is similar to layaway where purchase payments are split up into more manageable amounts; however, unlike layaway, with BNPL, you get your products upfront and make the payments after.
Every Buy Now, Pay Later servicer operates a little differently. Some will require 25% of the cost upfront with the remaining 75% split between 3 payments over the following 3 weeks, while others allow for zero-down payments.
If you’re considering Buy Now, Pay Later, weigh out the pros and cons first to see if you should avoid it or not.
Pros of BNPL:
- 0% Interest Rate: Many BNPL providers offer a 0% interest rate which allows you to pay the total balance without accruing any extra interest.
- Easier Approval: Typically, BNPL doesn’t require a hard credit check so compared to credit cards, getting approved for a Buy Now, Pay Later program is much easier and doesn’t affect your credit score.
Cons of BNPL:
- Multiple BNPL Agreements: Every time you use Buy Now, Pay Later (even if you use the same provider with multiple purchases) you will need to set up new agreements with their own terms and payment due dates which can make it difficult to keep track of all your purchases.
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Making Purchases You Can’t Afford: By splitting a purchase up into smaller amounts, you may get the impression that the total cost is not as much as it actually is. Although the individual payments are affordable, the problem arises when you finance multiple purchases at the same time. If you're not careful, these payments can add up to more than you’re expecting.
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Potential to overdraft: Having frequent automatic payments scheduled to come out of your checking account has the potential to lead to overdrafts.
- Continued Payments Even with Returns: If you choose to return an item that you bought via Buy Now, Pay Later, you may still have to make payments for a bit. While you should eventually get your money back, it may take time for the merchant to let the lender know you returned the item. If the lender hasn’t been informed by the time your next payment is due, you will need to make the payment to avoid the lender marking it as a missed payment.
Whether you should avoid Buy Now, Pay Later is dependent on your financial situation and financial discipline.
BNPL is a great option as a one-time solution to finance a big purchase such as a piece of furniture that costs a couple hundred dollars. You’ll be able to easily keep track of the term and bi-weekly/monthly due dates since it is only one item.
However, BNPL could be detrimental to your finances if you get into the habit of financing all your purchases.
Overall, it’s important to make sure you’re aware of the pros and cons, understand how BNPL works, and make the decision that is right for you.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you recently been discouraged about the amount of money you seem to be spending; you’ve asked yourself a few times now, “where is it all going?”
The fact of the matter is that you’re probably like many others asking these questions and trying to find an answer.
Links:
- Watch our Budgeting webinar for tips on starting a budget
- Watch our Financial Freedom webinar to learn how to tackle pesky debt
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Have you been looking over your accounts and wondering why it feels like you’re still struggling for cash? You’re not bad with your money, but it just feels like even in spite of your efforts, you just don’t have enough left.
The truth is, we’ve all been hit with rising prices. From food to rising taxes, utilities, and just overall expenses.
If you’re growing concerned about how your money is being spent, then you’re not alone.
Gallop.com reports that a recent survey showed 61% of Americans are saying that price increases are causing financial hardship.
If you’re paying attention to your expenses, you’re probably noticing that your dollar doesn’t seem to stretch as far as it used to.
Costs for everyday items, particularly food, are rising. Over the last year, groceries have gone up 7.1%, full-service restaurant costs have gone up 7.2% and takeout meals rose around 8.2% according to a CPI report from the Bureau of Labor Statistics.
Some other things may have also increased like property taxes, utilities, gas and other expenses related to your lifestyle including vacation and travel costs.
If you feel like your finances are spinning out of control, you can take steps to minimize the effects of rising prices in your financial life.
You need to be in control, not controlled. If you’re ready to get back into good financial shape, here are some things you can do to get there.
The first is you need to take a deep breath, sit down and determine where your money has been going.
This means that you’ll need to review ALL your expenses. If it helps to go through all your receipts and statements, then do that. Breaking down your credit card statements and receipts can help you visualize how much of your money is going where.
Ask yourself specific questions like, where have you spent the most in the last month? What about the last few months? Are you dining out more? Spending more on apparel or home good items? Is it going to bill payments? Did you recently have an emergency or need to spend more on car repairs?
If you’re overspending in certain areas, it should be obvious here and you should be able to make an effort to dial back on your spending in that category. If it’s not so obvious, then you’ll need to reevaluate your budget.
The first and most important step to creating a proper budget is to evaluate your needs and your wants.
This might sound obvious, but you need to prioritize your needs to be sure you’re covering all your necessities before you start spending money on things you don’t need.
If you’re not sure what those are, the top necessities go in this order: Food, shelter, utilities and transportation.
Break everything else down after that. Make sure you’re making payments on any debts you have, saving money in an emergency fund or retirement account, and go down the list.
Be really honest with yourself about this. We all tend to want a lot of things but there are times in life when we need to make an honest decision to hold off on some of the things we want.
It doesn’t mean you’ll never get them. It may just mean you’ll need to have some patience and wait a little longer.
Changing times and adjustments in life will affect our money habits and our budget. It’s important that as things change you keep your budget updated as well. If you stay on top of those changes you’ll be better able to pivot and keep financial stress at a minimum.
Luckily, whether you’re new to organizing your finances, or just in need a simple refresh, there are many resources available you can use to get back into shape and keep your financial stress low.
- If you’d like tips on how to organize a budget, watch our Budgeting webinar to learn how to easily put one together.
- If after doing your budget you realize you need more money, start drawing up a plan to work overtime, find a second job, or start a side gig.
- If you determine that you want to work towards paying off your debt, watch our Debt free living webinar for a few options on debt reduction strategies that work for any size debt.
- And finally, follow institutions and professionals you trust and shows like this to learn financial strategies, tips, news and more.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If you’re shopping for a house, you’ve probably heard the term title insurance thrown around. But what exactly is title insurance? Do you need it? Get ready to have all of your title insurance questions answered.
Links:
- Speak with a Triangle Mortgage Originator or learn more about our mortgage programs
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To start off, title insurance protects you as the owner of the property against any previous liens, judgments, tax issues, or ownership questions that may arise after the deed is transferred to you. Whether you purchase a home with cash or through a lender, you as the owner have the option to purchase title insurance.
There are two types of title insurance – owner's title insurance and lender’s title insurance. The first type of title insurance, owner’s title insurance, is a type of insurance protects the owner in the event that there are defects in a title on the property. If the previous owner stopped paying for a service before selling the house to you, the service provider put a lien against your property which was not resolved prior to the title transfer. A lien is a legal right to a person’s property until the debt is paid and the lien is released. In other words, if you don’t have title insurance, the previous owner’s debts are now your problem. While not mandatory, owner’s title insurance is a good idea to cover yourself and your property.
Owners’ title insurance is important thing to have, but how much is it? The price of title insurance varies depending on where you live and how much you paid for your new property. It can range from anywhere between $500 to $3,500. The other benefit of it is that it isn’t a recurring fee, so once you buy it, you’re all set for as long as you own the property.
The second type of title insurance is lender’s title insurance, which is mandatory. If you go through a lender or mortgage company, they will require you to get lender’s title insurance, so it protects them if the previous owner has any outstanding liens, judgements or past due taxes.
If you have any questions about title insurance or even buying a home in general, Triangle Credit Union has a team of mortgage originators ready to meet with you to answer any questions you have, and they’ll help you find the right mortgage for your situation.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Searching for a home can be an exciting and stressful activity at the same time, especially with so many ups and downs in the market.
In this episode we're chatting with Marianna Silva, Real Estate Professional and Owner of Invest Realty Group to discuss the current trends with the housing market and how today's buyers can make the most of it.
Links:
- Visit Invest Realty Group's website
- Follow Invest Realty Group's Facebook, Instagram, Twitter and YouTube Pages
- Contact Mariana Silva
- Learn more about Triangle mortgages
- Follow Making Money Personal on Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
When it comes to staying safe on the internet, you can never be too careful. Taking extra precautions to safeguard your accounts could be the most important action you can take in today’s digital world. Fortunately, there’s a highly effective solution that’s easy to implement for added layers of security.
Links:
- Learn more about KnowBe4 security
- For MFA resources check out Google Authenticator and Authy.
- Learn how to protect your identity with Better Checking
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re concerned about the identity threats that lurk across the internet, you should take the necessary steps to keep your accounts as secure as possible. One of the more effective ways of keeping the bad guys from accessing your digital accounts is to set up multi-factor authentication.
This tip comes from an article provided by KnowBe4 security Awareness and Training Solutions.
Multi-factor Authentication (MFA) is the process of verifying that you are who you claim to be when logging in to a device or an account. If you're listening to this from a work computer, you probably logged in to your computer - that's single-factor authentication. But single-factor authentication is no longer enough to keep your accounts secure.
If you want to increase protection of your accounts, you’ll need to digitally authenticate your identity.
You can do that a few different ways with these Identity Claim Factors:
- Something you own. This is using a mobile phone or device that you have in your possession to prove your identity. Typically, the device provides a code via an application, text message, email, or voice call. You then enter this code, and for successful authentication, your code must match what is expected by the service you’re attempting to log in to.
- Something you know. This is something you’ve memorized or stored somewhere, such as a PIN. You must supply the correct PIN to log in to your device or service.
- Something you are. This factor is something about your physical body that cannot be altered, such as your fingerprint or retina. Biometric scanners or readers are used to confirm you’re physically the person that you’re claiming to be.
Why do I need it?
In our digitally-driven world, passwords are no longer enough to keep your information safe. These days, it takes minimal effort for hackers to break into, or social engineer their way into, accounts that are only protected by passwords. Adding an extra step to access your accounts, such as entering an authentication code, means that hackers would also need to have your phone to break in.
Create an additional layer of security and make it harder for criminals to access your data by using two-factor or multi-factor authentication.
If you have any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
When you’ve finally made the decision to sit down with a financial advisor, the next challenge you’ll have is to find one you trust.
There are some questions you can make sure to ask a new financial advisor to feel confident you’ll be happy with their service.
Links:
- Check advisor qualifications for free with the Form ADV or state regulator website
- Learn more about Triangle's wealth management services
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to organizing your finances, you may have come to the decision to hire a financial advisor.
Financial Advisors, help you with higher level financial planning like investing for retirement or for income, helping you select an insurance plan custom tailored to your needs, helping you with long term savings plans like college planning for kids, and even helping you get ready for social security or Medicare.
A financial advisor is one of your champions and strategists to help you plan the future you want to live.
But you need to know you can trust them and you need to know what to expect over the course of your relationship. Different financial advisors work for different companies and their roles and expertise may vary according to how or where they work.
If you’re seeking a financial advisor for the first time, you can ask them any or all of these 7 questions to get a better idea of how they will work with you and help you strategize.
- Ask if they are a fiduciary – If they are it means they are working in your best interest, not just to sell you products and services. As a fiduciary, they are legally obligated to act in the best interest of their clients.
- Ask how they get paid. Some advisors get paid through fees, others, commissions. If you ask, you’ll know off the bat what to expect and the right advisor will be honest and transparent.
- Ask them about their qualifications and other professional experience. What kinds of initials do they have after their job title and what do those mean? Check their professional designations to vet them and make sure they have the knowledge and skills to help you achieve what you want. They may also have professional experience like experience running a business or managing a company that can be helpful if you’re looking for some advice. If you want to research possible advisors, you can check their qualifications through a resource called Form ADV or you can check state regulator websites.
- Ask them about their investment philosophy. This will give you an idea of how they will prefer to manage your investments. After taking time to get to know you and learn more about what matters to you, they’ll start recommending products or strategies. Find out if they favor one style of investing over another and determine if that style aligns with your own investing philosophy. You want to make sure you’re both on the same page, especially when the market takes that occasional downturn. When you’re working with an advisor you trust, you can be confident that they’re working with your money the way you want them to.
- Ask what your all-in costs will be. Financial services will cost you. You’ll want to have a clear idea of what fees and costs will be associated with your accounts. You’ll be paying for the advisor’s service but ask them about any other fees you should expect to pay so you can make sure you don’t lose more money in fees than you gain through their service.
- Ask them what other services and resources they provide. Some advisors work independently, others work with an organization. This can play a role in what kinds of resources are available to you as a client. Do they offer online tools you can use to monitor your portfolio? What kinds of educational resources do they provide? Additional resources can help you feel confident and satisfied as your financial situation grows more complex over time.
- Ask what you can expect from the relationship. This mainly means how they’ll expect to communicate and what level of involvement they’ll have. Square away with them what their accessibility and contact methods will be. Do they do phone calls, video calls, prefer only to meet in-person? Will they be available after hours in case your schedule is too tight to meet during the work day? Knowing these things ahead of time will give you a clear expectation on how and when to contact your advisor.
Starting a relationship with a financial advisor is a big step. You want to make sure you’re getting into business with someone who you can trust and will have the right tools and expertise to set you up with a strategy to reach your financial goals.
If you’re a Triangle member you should check out our wealth management services at trianglecu.org to learn more about the different products and financial advising services available to you.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Establishing healthy financial habits begins at a young age. If you’re a teenager or have one at home you should be happy to know that credit unions provide excellent resources and tools to provide the best start for building a healthy financial future.
Links:
- Learn more about our Teen Club benefits
- Read our blog: Building Credit as a Teen
- Learn more about our Shared Branching benefit.
- Learn more about our TruStage benefit
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Although many believe they are the same, credit unions and banks have different qualities and benefits.
Credit Unions are special because they are owned by their members. As a member, you own a share of the institution and have access to all the financial tools and resources to make your financial journey a success.
Whether you’re a Teen Club member who has graduated from our Kids Club, or just opened a new account, credit unions are a great choice for those who want a financial institution that grows with you.
Credit Unions have a lot to offer their members but there are 3 specifically that are most beneficial to teenagers.
- Credit Builder Loan
With traditional loans, the borrower receives the money first and then pays it back monthly.
With a credit builder loan, the borrower does not receive the money immediately. Instead, the lender holds onto the total loan amount while the borrower makes monthly payments towards it. Once all the payments are made, the borrower receives the full amount.
With your Triangle Credit Union Teen Club Checking and Savings Accounts, you can be eligible to apply for a low fixed-rate 24-month personal loan up to $400 with a co-signer.
This personal loan is the perfect way to begin building credit as a teenager while also creating good financial habits and showing credit bureaus you can make payments on time.
- Co-Op Shared Branching
Triangle Credit Union is part of a network of institutions allowing members the opportunity to conduct their banking transactions with Co-Op Shared Branches at over 5,000 locations across all 50 states, Puerto Rico and Guam.
At a Co-Op Shared Branch, members can deposit cash or checks, make loan payments, transfer between accounts, and access notary services to name a few.
This is beneficial to you as a member because it allows you to travel, or even move, across the country without the hassle and worry of encountering fees should you need to visit a branch.
If you choose to attend college, Co-Op shared branching gives you the freedom to attend college out of state while still being a member of Triangle Credit Union.
- Discounts with TruStage
As a member of Triangle Credit Union, you can get special discounts on auto insurance through the TruStage Auto Insurance Program.
Getting your license is an exciting time in your life and saving up to buy a new car is rewarding.
Protect your investment with auto insurance customized to fit your needs.
In addition to competitive rates, TruStage offers our members:
- Claims-Free Discount—If you are claim free for 5 years, you can earn an additional discount on auto insurance.
- Violation-Free Discount—Save more on your auto insurance when you’ve gone 3 years without a ticket.
- Online Purchase Discount—Save up to 12% on a customized car insurance quote when you sign up online.
- New Car Replacement—If your car is totaled within the first year, you’ll get enough to buy a new car (without worrying about depreciation)
- Accident Forgiveness—Your rates won’t go up due to your first accident
These are just a few of the many services available to you as a Triangle Credit Union Teen Club member—and with a full array of financial tools and resources, we’re excited to be part of your financial journey.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Buying a home is a huge step in your life. If you’re new to the homebuying process, you’re probably learning a bunch of new terms and information. One of those terms you’re going to hear is PMI and if you’re curious about what it is and how it works, keep listening.
Links:
- NerdWallet PMI Calculator
- Triangle's Mortgage Calculator
- Contact a Mortgage Originator
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When you’re looking into the costs of buying a home, you’re likely familiar with the interest rate, downpayment and even closing costs. But how familiar are you with the PMI that might be included in your monthly payment?
If you’re curious about what PMI is and whether or not you’ll have to pay it, here’s a little explanation.
PMI stands for private mortgage insurance that protects the mortgage lender if you stop making payments on the loan. If you have less than 20% of your own money into the transaction, then the Credit Union or lender will get PMI on the loan. If you’re able to put 20% or more down then you won’t have to pay PMI at all.
PMI is most often factored right into your mortgage payments which means you don’t have to make it a separate payment each month on top of your mortgage. In some cases, certain lenders might provide you a different option when it comes to paying PMI but most lenders require it to be wrapped into the mortgage payment.
As a homebuyer, you may not be thrilled to have to pay PMI with your mortgage. Who wants to pay a higher monthly payment? But believe it or not, there are actually reasons for PMI that benefit you as a buyer. Plain and simple, PMI makes it easier for you to buy the home. If lenders didn’t require PMI then they would require a much higher downpayment which would make it harder for first time homebuyers to qualify for the loan. PMI is not something to be afraid of because it allows you to put less money down when you finance.
Now, you might be wondering, if I buy a home with less than 20% down and have to pay PMI, will I be paying it for the entire duration of my loan? If I have a 30 year mortgage, will I be paying it every month for the next 30 years?
The good news is that you won’t have to. The PMI payment exists as long as you don't have 20% equity in the property. Once you have more than 20% equity in the property the PMI will automatically disappear.
So, if you’re looking to buy a home, but you don’t have the 20% downpayment, how much should you expect to pay in PMI?
The amount you’ll pay is based on many factors and is not a set number for everyone. If you’re trying to determine how much you’ll be able to afford, you can look into it beforehand to get an idea of what to expect to pay.
The amount depends on size of loan, your debt-to-income ratio, your credit score and the downpayment amount. Fortunately, there are PMI calculators out there you can use to get an estimate. There’s a useful one at NerdWallet.com and if you’re interested, check out the link in the show notes.
If you’re concerned about PMI or anything else related to financing your home, Triangle has a great team of Mortgage Originators available to meet with you and answer any questions you have.
You can visit one of our branches or set up a time to meet or email right from the mortgage portal on our website, trianglecu.org.
They’ll help you look through the different options available to you and find the one that will work best for your situation.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Inflation is a popular word these days, leaving many of us feeling confused or concerned about the future of our money.
In this episode, we're chatting with Triangle credit union CEO Scot McKnight about what inflation is, and how we can make appropriate financial decisions to counteract its effects.
Links:
- Get up to date finance and inflation information at Bloomberg
- Try Triangle's Money Management tool in online banking
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
As you browse a popular social media site or search the internet, you’re likely to come across a tempting ad selling something at an incredible price. You get excited and click the link because you don’t want to miss out on this rare opportunity.
Before you do anything, stop and investigate a bit more because you might be falling for a shopping scam.
Links:
- Learn more tips on how to spot fake shopping sites
- Report a suspicious site with the Federal Trade Commission (FTC)
- Report a suspicious site with the Better Business Bureau (BBB)
- Learn more about Triangle Better Checking with identity protection
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
80% of Americans shop online. That comes to a count of over 263 million people.
Online shopping is fun and convenient, plus you can find almost anything you want. Unfortunately, like other things associated with technology and the Internet, online shopping can also be a way for fraudsters and thieves to steal your personal information and money.
If you’re an avid online shopper, it’s important that you stay informed of these shopping scams, so you don’t fall for these fake stores trying to rob you.
A recent report from Experian has stated that online shopping fraud is rising. This is partly due to the growing volume of internet users and online shopping platforms we are accustomed to browsing on a daily basis.
Online shopping scams tend to be more common around busy online shopping days like Prime Day and Black Friday but are still very real threats that can pop up any time of year.
Scammers set up websites to deceive you into purchasing something from them. You may end up getting a shoddy product or you may not get anything at all.
How do these scams work?
They set up a storefront or website that looks very convincing and offers products that you might recognize from other sites or brands. They’re even known to copy professional photos and graphics to try to make the website appear as legitimate as possible.
These scammers then post an ad with a very appealing offer to direct you to the website. For example, it’s not uncommon for a scam to offer a luxury item at a ridiculously low price.
You may have come across some of these ads on social media or in browsers. They’re designed to get you to act quickly and purchase the item before you even realize the ad led to a dishonest site.
Luckily, if you’re aware of the ways to recognize these scams, you can easily keep yourself from falling for them. Here are a few tips on spotting a fake shopping site.
- If you see a bad or mismatched domain name. If the domain is slightly different, it should be suspicious. Check the URL for added words or misspelled names. If the name should be Namebrand.com but instead reads like NamesBrand.com or NameBrandOnline.com then it’s most likely a lookalike site trying to trick you.
- If there’s no S in HTTPs in the URL address string. Look at the web address in the top of your browser for the letters HTTPS. The S stands for secure and it means the site is encrypted. You should also see the little padlock icon at the front of the URL. If you don’t see an S then the site isn’t encrypted, and you shouldn’t give them any of your information.
- If there’s no return policy. Look around the product information or description for the company’s return policy. If there isn’t one at all, on a site that looks like it should have one, that’s a big red flag.
- If you get pushy popups asking for your financial information. Some sites set up annoying pop ups that ask you for your payment information while you browse. This is a serious red flag. Don’t give them your information and leave the site right away.
- If you see luxury items for unbelievably low prices. If it looks too good to be true, it probably is.
- No credit card payment option. If the site requests immediate payment, wire transfers or other forms of payment without accepting credit cards then it’s probably not legitimate.
Even with all the awareness and precautions we can take, sometimes scammers are so convincing we fall for them anyway. If you think you fell for a scam you can report the malicious site with the Federal Trade Commission. If you unfortunately used a credit or debit card on the scam site, contact your financial institution immediately. And finally, contact the BBB to report the fake business and help protect others from falling for the same trick.
One last note, make sure you have identity theft protection. If you have a Triangle Better Checking account, you have identity theft protection and you have access to other tools that can help protect your identity from the many ways thieves try to get a hold of it. Learn more at trianglecu.org or check the link in the show notes.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Are you trying to find ways to cut your expenses this year but don’t really know where to start? The good news is you can start by recognizing the most likely places you’re overspending.
Links:
- Read this CNBC article for more categories you're likely to overspend
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
With costs going up on everything from utilities to groceries, most people are taking a closer look at where so much of their money is going.
It’s time to start evaluating your expenses and see where you’re most likely to be overspending.
A 2019 survey from Slickdeals.net, reveals some of the most common areas adults overspend.
If you’re ready to take back control of your spending this year, start by examining and adjusting your spending in any or all of these categories.
- The first is online shopping. I know, big shocker right?
You can’t beat the convenience of online shopping, and you’ll often find better pricing for goods than if you were to go to a physical store.
The challenge with online shopping is the impulse factor. If you’re like me, you probably go online looking for one item, but then end up purchasing additional things you didn’t originally intend to purchase.
Things like apparel, electronics, footwear and pet care items are some of the most ordered online.
If you want to cut back in this category, try a few of these suggestions.
First, set a spending budget. You need to set a limit on how much to spend online.
Try switching your default payment method from a credit card to a debit card. This puts the responsibility on you to make sure you don’t spend more than you have. It’s critical that you keep an eye on your checking account, so you don’t overdraft your account.
Disable notification from shopping sites and apps and unsubscribe from promotional emails. Don’t let the apps tell you when to buy or what to buy. Silence them so you don’t get pressured into making an impulse purchase.
Uninstall shopping apps from your phone. If you constantly find yourself opening these apps, especially when you’re bored, it’s time to take away the temptation. You can always reinstall them later once you’ve grown more disciplined with your spending habits.
- The second category adults overspend is on food. This includes both groceries and dining out. If you’re spending too much money on these then you should find a way to cut back.
It’s so easy to impulse purchase at the grocery store, dining out daily for lunches, and spending too much when going out. I also want to mention that ordering through delivery apps like DoorDash or Uber Eats are part of this category. They’ve made it all too easy to conveniently order food that comes right to your door. Not only are you paying for the food, but you’re also tipping the drive and paying a delivery fee. Cutting back on food consumption is a must in today’s hyper-convenient dining world.
How do you cut back here? Make a shopping list and buy ONLY those items. This might sound simple but it’s not as easy as you think. Keep yourself limited to only the items you need to buy and nothing else.
Bring cash to buy your groceries. This might seem archaic, but can you think of a better way to keep yourself from overspending? You can’t spend what you don’t have and if you don’t have the cash, then you’ll be forced to either tally up all your items or put things back that you can’t pay for.
If you’re used to buying lunches while at work, cut back on how many you buy. Instead of every day, bump it down to maybe once or twice a week and pack your own lunches for those days when you won’t buy lunch out.
Set a budget for dining out. Cut back on how many times you go out and learn to make more meals at home. You’re less likely to be upsold on specialty drinks apps and dessert and you’ll likely cut calories too.
- The third category where adults overspend is on subscriptions. How many subscriptions are you paying for right now? Are you even using them all? Most of us are paying for multiple subscription services that we barely use.
Video streaming may be the first thing you think of, but there’s gaming platforms, food delivery subscriptions, other goodies like beauty products, personal care, online software and account access, online music platforms the list keeps going.
If you want to cut back here, take an assessment of every subscription service you have. I mean EVERY, even if it costs you 2-3 dollars a month.
Ask yourself honestly how much value you’re getting for the service and if it’s worth the price. Look at which ones have gone up in price, because that can happen after a few years or if they change their pricing models.
Cut out anything you don’t use anymore. If you’re not using it, then you’re overspending on it.
- The fourth category adults overspend is on technology products. This includes phones, smart speakers, TVs and other gadgets.
Stop and take a quick look around your environment whether you’re at work or home. How many tech devices do you own? This includes smartphones, tablets, computers, gaming consoles, smart speakers, smart watches, TVs, plus any other home devices like Nest and Ring. All those items come with upfront costs and sometimes recurring costs like a service charge or maintenance costs.
How do you avoid overspending on technology since it’s practically a necessity for our day-to day living?
Try to make your devices last as long as they can. Take good care of them and keep up with maintenance.
Wait a little longer to purchase the newest item. Prices are usually high at the time of release, but can fall a bit if you wait a little longer
Consider purchasing a used or refurbished item. You can save quite a bit of money. Just make sure the reseller is reputable.
If you’re feeling the crunch and are looking for ways to cut back on your spending, start by cutting back in any or all of these categories.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you ever wished that you could get your paycheck a few days early? With early paycheck, that is now possible! Here’s what early paycheck is and how it works.
Links:
- Learn more about Triangle checking accounts that offer Early Paycheck with direct deposit
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Early paycheck is when your check is deposited into your account earlier than Friday. You may receive it as early as two days before payday. But how does this work? Well, direct deposit payments have an official payment date, which is the date employers intend the payment to be made.
Most businesses use a system called automated clearing house, or ACH for short, which processes electronic payments. When employees are signed up for direct deposit, businesses use the automated clearing house system to process the check payments.
The payroll file of direct deposits will then be sent to the corresponding employees’ financial institutions. The deposit will then go through the automated clearinghouse system. If your paycheck is deposited before payday, your financial institution is advancing the funds to you, knowing that they will receive the money when the funds become available.
If this sounds good to you, it’s easy to get your paycheck early! First, look to see if your financial institution offers early paycheck. It might be called something else, like early direct deposit, or something similar. If your financial institution doesn’t offer early paycheck and you really want it, don’t worry, there’s plenty of options to choose from. Look around at other financial institutions to see if they offer early paycheck. For example, it is included with both Triangle Credit Union’s Basic Checking and Better Checking Accounts.
Next, make sure that you are enrolled in direct deposit. You will need to provide your employer with your financial institution’s routing number and your account numbers for checking or savings, depending on which account you want your paycheck to go.
Then you’re all set! It’s that easy!
Early Paycheck also works for US government ACH payments like social security, so if you’re still waiting until Friday for a check but need it sooner for bills or other expenses, set up direct deposit and you’ll likely gain access to that money sooner.
Direct deposit gives you more benefits over a physical paper check. First of all, you get your paycheck on time, or early with early paycheck. With a physical paper check you would have to either pick it up in the office or have it mailed to you. Second, it eliminates the additional step of having to deposit the check, with either remote deposit using your mobile device or computer or physically going into your financial institute.
If you have questions on getting started, reach out to us via our website, give us a call.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Buying a house is one of the most important purchases of your life, but it is also one of the most expensive too. This can be very distressing for some, but don’t worry – we're here to provide you with some ways to save money when buying your new house.
Links:
- Check out current mortgage rates
- Chat with one of our Mortgage Originators
- Watch out First Time Homebuyer Workshop on YouTube to learn more about getting pre-approved and the right financing
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Before you buy your new house, there’s a few things you’re going to want to do to get started. First, figure out how much you can afford. Then, figure out what you want in a house. Things like house type, square footage, how many bedrooms do you need and how many bathrooms you need are all important. Other factors to consider include how nice the neighborhood is and how far away your house is from stores and things to do. If you have kids, you will also want to see if the school district is good. Of course, factor in that you still have to pay for all of this, so keep it within your budget.
Once you have a good idea of what you want in a house, it’s time to go out and find it! A good first step is to get a real estate agent who can walk you through looking for and buying your house. Houses that are generally cheaper include houses that have been on the market for a while and fixer-uppers. Owners of these houses generally just want to get rid of the house by this point and you may be able to negotiate a better deal. The only downside to going this route is that the house will probably need a lot of work. Houses that have been foreclosed on are also generally cheaper, so you can keep a look out for those.
You may also want to look into houses that aren’t currently on the market. If you know of anyone who might be moving soon, see if they are willing to sell. If you’re bold enough, you could also try door-knocking. This is where you find a neighborhood that you want to live in and go up to a house you’d like to buy and ask if they’d be willing to sell to you. Just be respectful of the residents, and don’t approach houses with a “no soliciting” or “no trespassing” sign.
Once you’ve found your dream home, it’s time to look at your finances and get a mortgage. Your credit score is a big factor when applying for a mortgage. Lenders use your credit score to determine your loan pricing and see if you will be able to pay back the mortgage. The better your credit history, the better rate you can secure. Even a small increase in your credit score can get you a reduction in your mortgage rate.
If your credit score isn’t as good as you’d like, a few ways to improve your finances to ultimately improve your mortgage application is to start paying off any existing debts. Paying down high-interest debt, such as credit cards, personal loans, and student loans, will positively affect your debt-to-income ratio, which is another key factor in mortgage eligibility. This also means that you shouldn’t open any new credit accounts or take out any new loans.
Adding money to your savings for a house is another way to get a better rate. Being able to make a down payment that’s a little more than the minimum can show lenders that you are reliable when it comes to saving money and may give you a better rate.
Buying a house can be stressful and complicated, but it doesn’t have to be! Talk with your friends and family about their experiences, they might have some valuable insight to offer. Your real estate agent and mortgage originator will also be able to guide you as you go on this new journey.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
In this short episode we chat with Triangle CEO and President Scott MacKnight about all the news surrounding Silicon Valley Bank and what it means for the financial industry as a whole.
Links:
- Get updates and breaking news from Bloomberg
- Read Triangle's article with more information about what the Silicon Valley Bank news means for your Triangle account
- Visit the NCUA website for important information on how your funds are protected
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Finding the right home can be a challenge. If you’re preparing to embark on the homebuyers’ journey, there are three things you can do to give yourself the best chance of finding and buying the home of your dreams.
Links:
- View our current mortgage rates
- Get in touch with one of our Mortgage Originators
- Learn more with our Securing Financing for Your New Home article
- Listen to our other conversations with industry professionals about closing costs and home inspections
- Sign to attend one of our upcoming homebuying webinars or watch on our YouTube channel
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to your first home search, if you have the right plan in place, there’s no reason that you shouldn’t be able to enjoy the home buying process with all the excitements and challenges it can bring.
With these three steps, you’ll have a great strategy and plan for when you’re ready to make your move.
Follow these three steps to find your dream home.
- The first one is to Form Your Team
Deciding who is on your team goes deeper than just your lender and your real estate agent. When forming your team, you need to consider everything that is part of the home-owning process that might be more than just who ends up on the deed.
This could be a family member who is involved in construction that will end up helping you with tasks around the house. This could also be someone nearby who you will use for childcare occasionally. It’s important to bring these people into the conversations around the home you’re buying as they will be involved in certain aspects of the house.
Having meaningful conversations with your team allows you to gain a new perspective about the location and condition of the homes you’re looking at so you can make an informed decision on such a huge purchase. If you choose to purchase a fixer-upper, you will need to make sure you have the expertise to DIY the updates or have the funds to pay someone to help. These conversations will get everyone involved on the same page moving forward.
- The second is to Secure your Financing
Looking at homes before you’ve secured financing is a dangerous game because you wouldn’t want to fall in love with a house you can’t afford.
Securing financing can be as simple as walking into your nearest Triangle Credit Union branch and sitting down with one of our mortgage originators to discuss your options.
Triangle’s Mortgage Originators will walk you through the process and connect with your realtor, or work with your existing realtor, to make sure you can get financing to purchase your dream home.
For more information, read our blog post Securing Financing for Your New Home where we discuss the process and list the documents you will need to get pre-approved.
- The third is to Find Your Realtor, Find Your Home
We’ve all been on various real estate websites searching for our dream homes. We flip through photo after photo and imagine what our lives would look like if we purchased that home, but did you know that there is an easier way to find a home?
Realtors have direct access to listings before houses even hit the market so when you work with a realtor, they will be able to filter through properties you will be interested in and have you tour the home before those who use the apps even see it.
This can take some of the stress of home-buying off you and allow you to enjoy the home-buying process, especially if you are a first-time homebuyer.
Finding your dream home should be an exciting experience, not a stressful one. We hope these steps will put you at ease if you are in the home-buying process or getting ready to start. Do you have other first-time home buying questions? Attend one of our First Time Homebuyer Webinars to learn more information and to have your questions answered by the experts or watch one of our recorded webinars on our YouTube channel.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Achieving your dream of owning a home isn’t out of reach. With all the financing options available, how do you determine which one is right for you?
You may have been told that adjustable-rate mortgages aren’t the right option. But there are some surprising reasons why an adjustable rate could be the right option for you.
Links:
- Check out Triangle's mortgage rates
- Contact a Mortgage Originator to meet and discuss your options
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re hoping to own a home one day, one thing you’ll need to decide on is what type of financing you’ll choose.
Finding the right mortgage can be difficult and intimidating. There’s no one size fits all solution for financing your new home. One of the biggest questions concerning mortgage options is whether to choose a fixed rate mortgage or adjustable-rate mortgage (also known as ARM).
Though, many people immediately decide they want a fixed rate, because it seems safer, they may be overlooking the benefit that an ARM might provide them.
Ryan Campbell, Mortgage Originator at Triangle Credit Union mentions that many people start out with a negative view of ARMs. He says, “For many people, an ARM is a scary option. They may have heard from friends or family to avoid adjustable-rate mortgages at all costs. But this advice can often be misconstrued, because adjustables might give you the best option for your financing, with the smaller financial burden.” He followed it up with, “Don’t do a loan because someone else told you, do it because it works for you.”
Don’t dismiss ARMs before you’ve first considered the benefits.
Here are some of the surprising benefits of ARMs that you may have not considered and might make you warm up to the idea of using one to finance your house.
- The first benefit is that you’re likely to get the best rate with a lower introductory payment.
Traditionally ARMs offer great terms and rates which tend to be lower than fixed rate options. This also means that the lower the rate, the lower your monthly payment could be. There’s also a chance you can get a longer-term mortgage with an adjustable rate meaning you’ll get a more attractive rate AND a longer term, making that monthly payment even more attractive. For example, Triangle offers a 40-year term adjustable rate mortgage option. This is a great offer because it means you can pay off your loan over 40 years instead of 30 ultimately lowering your monthly payment.
- The second benefit is that there are caps to how high the rate can adjust.
If the word adjustable scares you because you know the rate can go up over time, you don’t have to fear too much. Adjustable-rate mortgages have caps set on how high the rate can adjust. Ryan explains that certain caps are put in place to ensure the rate only goes up a certain amount. It can’t go any higher or lower over the life of the loan. Don’t think that if rates adjust up, your rate will adjust out of control. Figure out whether you’ll be able to continue to afford your payments if your rate adjusts to the max cap, and if you can, then you’ll be prepared for when it does.
- The third benefit is that there’s a chance depending on market conditions that they could adjust down.
Believe it or not, there have been times in history when rates have adjusted lower. If rates are better by the time yours is set to adjust, they restructure at a lower rate. Although this isn’t too common, it’s certainly something you may not have considered when you hear about adjustable-rate mortgages. Pay attention to the economic climate and who knows, you may get fortunate with a rate that adjusts down without having to refinance to get a lower rate.
Get the benefit of automatically adjusting to that lower rate without having to refinance
- The fourth benefit is that there aren’t any prepayment penalties.
A lot of times people move from home to home. They either get a new job, retire, or just decide to move away. In the past, paying your mortgage off early meant you would need to pay pre-payment penalties. Now, if for whatever chance you decide to move, or refinance, then you won’t be charged any fees for prepaying the loan. This is a huge benefit if you don’t plan on being in the home for a long time. If you buy a home with an adjustable-rate mortgage but then decide in a few years, maybe even before the rate adjusts, that you want to move, you won’t get slammed with fees for doing so.
If you’ve shied away from ARMs for some time, a few of these benefits might surprise you.
But, how do you know that an adjustable rate is right for you?
Ryan recommends you ask yourself some of these specific questions when you’re considering the different types of loan options.
- How long do you think you’ll be living in that home?
- Right now, what’s most important to you, low payment or best rate?
- Based on your budget, what can you afford? A lower rate and longer term help with buying power.
- How much do you have saved for the downpayment and closing costs?
Ryan also stresses the importance of educating yourself. He recommends you do research to learn how mortgages work. You’ll learn about terms, adjustment periods, how the loans are structured and more.
Learn all you can about the different types of options available, how they work and what you should consider before signing that line.
Ryan shares, “Get educated. Absorb as much as possible. The more you know the better decision you can make. Work with someone who can explain it to you so you can understand the products.”
That’s what Triangle’s Mortgage Loan Originators are there for. They take the time to meet with you and discuss your options to help you get the best mortgage you can.
Visit any of Triangle’s local branches or schedule an appointment online to get in touch.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How many times have you ever said to yourself or someone else, “I wish I knew this sooner?” When it comes to money, sometimes the hard lessons are best learned early. If you have kids, or work with kids, there are important financial lessons they can benefit from starting at an early age.
Links:
- Learn more about setting up a Triangle Kids Club account or Teen Club account
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Financial education is important for all ages. The earlier you understand important financial principles, the better off you’ll be as you grow up.
It’s never too late, but if you’re a parent, you may be thinking you can help spare your kids from making the same financial blunders you did.
Not to mention just getting a habit started early can make the difference in a child’s life when they become an adult.
There are important financial lessons you can teach your kids at a young age to set them up for financial success well into adulthood.
Teach them the importance of saving.
Saving is an important financial discipline that everyone should practice. It gives you purchase power, the ability to help others and helps you provide for your needs and the needs of your family. Getting started earlier is always better so try to start instilling this discipline in your kids' lives early. There are a lot of different ways to do this, so choose which is the best way for you and your kids.
If your kids are old enough, you can start by implementing an allowance. If they get birthday or gift money you can encourage them to save some or all of it. You can also set up a system for them to make some money at home doing chores. If they’re still young, get them a piggy bank or make one with them so they can store all the cash and change they collect. If they are a little older, show them the envelope system as an early budget tool so they understand the process of dividing money up into portions for specific uses.
Finally, set up a Kids Club savings account for them so they can learn what a bank account is, how to deposit money, and use a coin machine.
Teach them the importance of working for money.
As a kid, when I was too young to work a job, my parents encouraged me and my siblings to do chores for cash. This made their lives easier and gave us the opportunity to understand the importance of trading certain working skills in exchange for money. Try organizing regular chores for your kids like vacuuming, cleaning, trash duty, car cleaning, yard work and others. It gives them the opportunity to collect cash for their own use and gives you a break from some of the common household chores.
When they grow old enough to have their own job, they will understand that trading time for money is productive and beneficial.
Teach them to build knowledge
Encourage them to learn about important money principles when they can. Find ways to get them engaged with money challenges, apps and other games that they might enjoy. Share age-appropriate financial resources like activity books, videos, games and more. There are a lot of finance professionals who create kids and teen related courses that your kids may be interested in and enjoy using.
Teach them the importance of giving
When I was young, my parents used the envelope system to teach me about budgeting. They made it clear that you can only do three things with money – save it, spend it and give it. This taught me that when we give money, we can make a difference in other people’s lives. It’s important to learn to spend and save money wisely, but it’s just as important to give money. Teach your kids why it’s important to give so they learn they have the power to use their money to benefit others. It can instill virtues like gratitude and generosity.
Teach them that personal finance is a journey that you’re also working on.
Depending on how you manage your own finances, this may be one of the trickiest. A great way to help somebody learn is to show them real world examples as they live them. Whether you like it or not, your kids are watching how you handle money, and they learn from it. Lead by example as you navigate your own journey. If you’re paying off debt, show them what you’re doing. If you’re saving money for retirement, or something else explain to them why it’s important. They see and feel the benefits and consequences of the financial decisions you make so you may be one of the biggest financial influences in your kids’ lives until they reach adulthood.
Make sure that you are practicing what you preach so your kids will have a clear example of what good money management is like. You know that personal finance is a lifelong journey, and you’re on your own just like everybody else. Your kids will be there one day too. As they watch you save, spend, get out of debt and give they’ll learn the value of discipline, patience, and perseverance for their own financial journeys.
If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook and IG for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day everyone!
How does your credit score factor into your life as a teenager? Are there ways to ensure you’ll have an acceptable credit score by the time you’re ready to borrow? In this tip, we’ll share a list of ways you can start building your credit score as a teen.
Links:
- Visit Credit Karma to start watching your credit history
- Learn more about Triangle Teen Club accounts and their benefits
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Your credit history is something that follows you throughout your life, regardless of when you start building your credit. A great credit score can help you buy a car with a low interest rate or even an affordable house when the time comes.
The same sentiment can be said for poor credit. Poor credit can lead to financial hardships in the future by making it nearly impossible to borrow money if you were to need it.
The conundrum is: to build credit you typically need credit in the first place. As a teenager, this can be frustrating because it may seem like you are just thrown to the wolves when it comes to your financial future.
We don’t want you to feel that way. You should start your financial journey feeling motivated and inspired, which is why we put together a list of the top 5 ways you can build credit as a teenager.
The first way is to use a secured credit card.
A secured credit card functions like a standard credit card; however, with a secured card, the credit line is based on the upfront cash deposit.
A typical cash deposit for a secured credit card is usually between $200-$500.
Since this card works like a traditional credit card, it’s important to note that interest will be charged on balances that are not paid in full each month.
A secured credit card is a great option for teens because the card does not typically require credit history when you apply for the card and once the credit is built up a bit, the secured credit card can usually convert to a regular unsecured credit card, which will allow you to continue adding to your credit history instead of losing it.
As a teen, a secured credit card will teach you the importance of making on-time payments, paying the credit card balance off in full to avoid interest charges, and teach you how to monitor your credit within the credit card app.
The second way is to become an authorized user.
If you are a teenager listening to this, sit down with your parent, guardian or relative to discuss becoming an authorized user on one of their credit card accounts.
Becoming an authorized user on a credit card is a great way to start building credit if you are not old enough or able to apply for your own credit card. Essentially, as an authorized user, you’re able to piggyback off their good credit; as they make on-time payments and keep their credit in good standing, your credit will increase as well.
If you are a parent, guardian or relative of a teen who could benefit from this, discuss this as an option, but make sure your teen understands how it works, and your expectations of spending limits and responsibilities for paying off any amounts charged. It’s very important to have the guidelines set of how your teen will pay for the purchases they make every month so that monthly payments are made on time.
It is also very important to understand that this will affect both people’s credit so if the main account holder does not already have great credit, this might not be the right option for you.
The third way is to start working.
Getting a job as a teenager is an important step in the credit building process.
Income is one factor that contributes to qualifying for credit because credit card companies, auto loan providers and property owners use income, along with a credit score, to determine if you can pay the bill, loan or rent.
These servicers will understand that you will only be working part-time while in school but getting a job as a teenager can help you establish a good work ethic while also providing you the money you’ll need to start saving for your financial future.
The fourth way is to open a checking and savings account.
Opening a checking and savings account as a teen helps establish a strong foundation for your financial future!
Although checking and savings accounts do not directly affect your credit score or show up on your credit report, properly managing these accounts will teach you how to handle your money and will lead to healthy financial decisions as you get older.
Triangle Credit Union’s Teen Club Checking and Savings Accounts provide you access to a personal finance manager, online and mobile banking capabilities, a high yield online savings account, and a contactless Visa debit card for your checking account.
These accounts are perfect for 13–18-year-olds who want to build credit because with a co-signer, you can apply for a low fixed-rate 24-month personal loan up to $400.
The fifth way is to sign up for a free credit monitoring app.
Carefully watching your credit report may not seem like a big deal when you’re a teen, however it’s crucial to understand how every part of credit building works.
Signing up for a free credit monitoring service, like Credit Karma, allows you to track your credit building progress while also monitoring your report to make sure there are no fraudulent or derogatory marks on your account.
It would be a bummer for your credit to be ruined before you even had the chance to start building it yourself, but it would be even worse for your credit to be ruined and without you having any idea about it because you weren’t monitoring it.
We hope these tips give you peace of mind and help you figure out a starting point for your financial future. You don’t have to follow every one of these tips to be successful. Everyone deals with finances differently and it’s important to choose the ones that will benefit you the most.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
What kinds of value does community involvement provide and is there a benefit to getting involved in the your local community? Sure enough, there are many benefits, for both businesses and individuals that make community involvement worthwhile.
In this episode, Terri and Liz talk about some of those benefits and more in this episode.
Links:
- Learn more about the benefits of Helper's High
- Simon Sinek presentations on helping others:
- The Power of Kindness
- Help Yourself by Helping Others
- View Triangle's upcoming events
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
How often do you worry that your payment information might get compromised when you use a credit or debit card?
If you want to keep your personal information more secure when you’re at the checkout, consider using the contactless payment features most debit and credit cards offer for a safer and more convenient payment experience.
Links:
- Learn more about contactless debit cards
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Contactless cards, also known as tap-to-pay, have become increasingly popular in the United States over the past 10 years but there are still people that may not be aware of what they are or how to use them.
Simply put—contactless payment or tap-to-pay refers to a form of payment using a debit card, credit card, or a payment enabled mobile phone or smartwatch that processes without needing to insert a chip or swipe a card.
This process uses radio frequency identification (RFID) technology in addition to near-field communication (NFC) for contactless payment transactions.
Here are a few of the top benefits of using a contactless card for payment.
The first benefit is that it’s more secure.
Contactless card payments are more secure than magnetic stripe card payments and just as secure as chip payments.
Each card has a contactless chip that creates a one-time code that changes with each transaction you make.
This one-time code accompanies your account number when you “tap” to pay.
Your other payment information (name, billing address and card verification code) is not transmitted using this method.
By using tap-to-pay, you are guarding your card from skimming devices that are used by hackers to gain access to your payment information.
- Quick, Easy Transactions
Contactless payment options are up to 10x faster than using cash or swiping/inserting your card at checkout!
With contactless cards, you no longer need to worry about punching in your PIN on the point-of-sale terminal.
Quicker transactions reduce checkout times and shorter lines, which is a benefit to both the business and the consumer.
- Loyalty Rewards and Benefits
Many businesses will have their loyalty accounts and reward systems set up to automatically sync with the tap-to-pay method that can be used with your contactless card or mobile wallet.
At Triangle Credit Union, we offer cashback at local and national merchants with our Purchase Rewards when you use the contactless feature during payment.
How To Use
Using contactless cards or tap-to-pay with your mobile wallet is simple and easy:
- Look for the contactless symbol on the point-of-sale or card reader (this is the same symbol used on your Triangle Credit Union contactless enabled debit or credit card)
- Hold your card within 2 inches of the card reader when prompted
- One you receive confirmation the payment was accepted (typically a check mark, green light or audible confirmation), that’s it!
If your Triangle debit card doesn’t have the contactless payment symbol in it, you’ll need to upgrade it. Triangle Credit Union offers Debit on Demand so you can have your card enabled with contactless chip technology in your hands in as little as 10 minutes!
Contact us today by phone or email to find out more on getting your new contactless debit card.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
According to a 2021 study, conducted by Ramsey Solutions, 41% of couples in the US argue about money, primarily due to the amount of debt they owe. If this sounds like your situation, and you want to know how to reach common financial ground with your partner, and qualify to win a $100 VISA gift card don't miss this episode.
Links:
- Learn more about our Valentine's podcast giveaway and how to enter to win a $100 VISA gift card. Contest runs from February 14 - February 24, 2023.
- Watch our Budgeting 101 webinar
- Watch our Financial Freedom: Your Path to Debt Free Living webinar
- Visit triangleuniversity.org to watch webinars, read articles and access financial tools and resources.
Transcript:
This is Money Tip Tuesday from the Making Money Personal Podcast.
Hi everyone! On today’s Money Tip Tuesday, we’re going to give you some practical advice on how to find common financial ground with your favorite person, but before we start, there’s a special announcement for this episode. Since we’re releasing this Money Tip on February 14, 2023 (Valentine’s Day), we are giving a $100 Triangle Visa gift card to a lucky listener. To qualify, you must be a subscriber to the Making Money Personal podcast and send us an email to tcupodcast@trianglecu.org with a pic of your subscription screen and the promo code. That’s it. I’ll share that info again at the end of this show. For now, let’s talk about that grueling statistic that 41% of couples argue about money in the US, primarily because of debt. Personally, I think that number seems incredibly low but even if that were true, every couple is different—if you argue about money, than here is some tips to help curb those money arguments:
Be Calm & Communicate. – Let’s imagine this month is really tight and you just found a receipt for an unexpected purchase on your kitchen counter. How do you handle this situation? Well, I try to put myself into work mode and ask myself: how would I talk to my co-worker about an unexpected matter? I know our work culture fosters an environment of professionalism and respect, so try to apply those same principals at home. Approach your partner about the unexpected expense situation with kindness and respect. Be calm. It’s fair to ask some questions about the purchase to dig a little deeper but use a respectful tone. Also ask yourself: was there communication earlier in the month about how tight it was going to be? If not, you may have just uncovered a deeper problem than the latest purchase—you may have discovered a communication problem.
As a couple, if you haven’t discussed financial matters before, it’s not too late. Just set the right mood, which means you may want to schedule some time with your partner for this, have the right (respectful tone) and talk about money and life. Start a 50,000 foot conversation about financial beliefs and goals and then take it down to 15,000 feet with the specific questions about where you want to live, your job, how can you reduce your cable or streaming services (insert laughter), and other monthly expenses, which leads us to our next tip.
Make a Budget & Share Money Responsibilities – According to a Stress in America survey, only 33% of survey respondents said both partners share an equal role in financial decision-making; only 23% reported that management of household finances is shared equally.
This brings us to your first money responsibility as a couple: create a monthly budget…together! When couples create a budget, there is weigh in and buy-in…and in the budget process, you’re communicating about how much money you have this month, and how it will be spent. If you’re new to budgeting, we recommend a zero-based budget and have online tools to explain how this budget works. Sometimes when couples budget, they realize it’s not their spending that’s the problem, it’s their income. Decisions may need to be made about future income opportunities, education and/or if second jobs are needed. These can be very tough discussions but when your problem-solving as a couple, you’ll come out ahead every time because you’ll be working together.
Pay off Your Debt. – Debt can be stressful, and this is truly one of the main reasons couples argue about money. Just like a budget, it’s important to be on the same page for paying off your debt. There is nothing more frustrating than being in a relationship where one person is focusing on paying off debt, and the other person is racking up debt. This breeds frustration and resentment. The most common way to tackle your debt, is the snowball method. We have online tools to show you how to tackle and destroy your debt, so please check those out on our YouTube channel through triangleuniversity.org.
No secrets. – Keeping a secret is stressful enough. Imagine if the secret came with dollar signs. Do yourself a favor and don’t hide your money problems from your partner. If you’ve messed up and racked up credit card debt, it’s time to pull up your big person britches and talk about your situation. Strong couples fight problems together. Yes, there may be some struggles and challenges, but put your heads together to find a resolution, and work together to win!
Discuss Dreams. – Far too often couples get in the weeds with their monthly budget and forget to discuss their dreams. Most financial conversations are centered around what needs to be paid this month. Where is the money coming from? Do we have enough for a latte? A thousand scenarios to work out, but put a tack in all those questions and take time just to plan for what your future selves will look like: Where are you going to live? What will you be doing for work? What do you want to do for work? Do you want to travel or are there special hobbies you want to explore?
When my husband and I discussed our dreams for retirement a couple of years ago, he was all about wood working and fishing. Neither of those two things really appealed to me, but the more I thought about it, I was like, “I don’t really care about fishing, but I do like to boat” so now we have a common goal to buy a boat within the next few years.
That wraps up our tips for finding financial common ground for couples—I hope you found the key takeaway to be communicate, communicate, communicate.
Now for the fun stuff. I promised to share the promo code for our $100 Triangle VISA gift card raffle, so get ready here it is: P**3 . This is all one word.
Just a reminder on how to enter: you have to be a subscriber to the Making Money Personal podcast and send us an email to tcupodcast@trianglecu.org with a pic of your subscribe screen and the promo code. That’s it. This contest runs February 14th – February 24th 2023 at midnight so make sure you send us your email by the February 24th. For official contest rules, visit Trianglecu.org.
If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook and IG for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a wonderful day everyone!
If you’re familiar with QR codes, you know they’re growing in popularity for a variety of uses. But like with all technologies, scammers are now trying to use them to steal your information. Next time you see a QR code, you might want to take a second and pause before scanning.
Links:
- View the FBI Public Service Announcement about QR code scams
- Read the Austin TX news release about the QR code scam with parking meters
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
You’ve probably seen QR codes everywhere. They are used in restaurants to view menus, on signs and doors for promotions or offers, in magazines and flyers and sometimes even in emails or on social media.
They are designed to be quick, simple ways to use your phone to open a web page easily and automatically without having to search via your phone’s browser.
QR codes have grown in popularity, especially since the pandemic, and more people have become familiar with how to use them.
But, unfortunately, like almost any type of technology, there are people out there who want to try to use these codes to trick you and steal your information.
Similar to how scammers try to trick you with emails, text messages, and phone calls, they are now trying to trick you with QR codes. As an informed user, you need to keep an eye out for potentially dangerous QR code scams.
How do QR code scams work?
Scammers create their own codes that when scanned, will direct your phone to a dangerous website or webpage that tricks you into handing over sensitive information.
In a 2022 public service announcement, the FBI issued a warning against these types of crimes to build awareness of the threats unassuming users could face.
They stated,” cybercriminals are taking advantage of this technology by directing QR code scans to malicious sites to steal victim data, embedding malware to gain access to the victim's device, and redirecting payment for cybercriminal use.”
Here’s a story from the Austin TX PD that should remind us all to be aware before scanning a QR code, especially a public one.
Police discovered that scammers placed their own QR code stickers over the legitimate ones on a bunch of public parking meters in Austin.
Unsuspecting motorists would park their cars and scan the codes to pay the parking fee. But instead of being brought to the city’s authorized website to pay, the malicious code sent them to a fake website set up by the scammers where they willingly handed over their personal credit card information.
If you want to protect yourself against falling for these scams, you’ll need to remember how to avoid them and learn how to detect them.
Scan codes only from reliable sources. If you don’t know the company or person who sent you the code, don’t scan it.
Also, inspect the code carefully for anything suspicious or signs it may have been tampered with.
The FBI included a list of tips for how to safely interact with QR codes. Here are a few to remember:
- Do not download an app from a QR code. Use your phone's app store for a safer download.
- Once you scan a QR code, check the URL to make sure it is the intended site and looks authentic.
- Avoid making payments through a site navigated to from a QR code. Instead, manually enter a known and trusted URL to complete the payment.
You can find these tips and others at the FBI website using the link provided in the show notes.
If you do find a suspicious code, or think you've been a victim of a QR code scam, report it to the authorities so it can be investigated and removed. Contact www.ic3.gov to start a report. That link is also included in the show notes.
Keeping your information and devices secure is an effort that should be permanently ingrained in all our minds. We need to be on alert for the many ways people try to scam us.
Remember to stay alert and stay aware.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Ready to up your savings game this year? If you need a little motivation and a fun way to create a new saving habit, you should try a savings challenge.
Links:
- Download our free printable tracking sheets to keep track of your progress
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
- Contact us at tcupodcast@trianglecu.org
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Saving money can be extremely difficult, especially if it’s not something you’ve really committed to before. There are many questions that come along with saving money like “how much do I need to save?” or “how do I make saving money more manageable?”
A new year is a great time to take a look at your financial situation and make appropriate changes if necessary.
If you’re ready to start the new year off on the right foot, we have 5 savings challenges (with trackers) that you should try in 2023!
$5 Savings Challenge
This challenge is probably the easiest challenge of all. There is no expected completion date, no required weekly or monthly contribution and essentially, minimal rules.
The purpose of this challenge is to save $500 dollars by breaking it up into more manageable $5 increments.
That doesn’t mean that you can only save $5 at a time. If you have an extra $15 that you want to put towards this goal, go for it! Did you sell something on Facebook Marketplace for $30 and you want to save that cash? This is the perfect place for it!
This can be a cash savings or a digital savings—that choice is up to you and whatever type of saving works better for your lifestyle–whichever you choose, make sure you’re tracking the deposits!
52 Week Savings Challenge
The 52 Week Savings Challenge gives you the opportunity to save $1,378 throughout the year by depositing a different amount every week!
The premise of this challenge is to deposit money every week for 52 weeks, upping the amount each time starting with depositing $1 and ending with depositing $52.
It should look something like this:
- Week 1- Deposit $1
- Week 2- Deposit $2
- Week 3- Deposit $3
By the end of the first month, you will have $10 saved up!
Doing small deposits at the beginning will help you build up your savings slowly while creating a good habit with repetition.
Some people who do this savings challenge choose to complete it in reverse. This means they start by saving $52, then $51, then $50 and so on and so forth which knocks out the bigger numbers first. By the end of the year, they only need to save the smaller, one-digit numbers.
365 Nickel Savings Challenge
The 365 Nickel Savings Challenge is a great savings challenge for beginners. Instead of worrying about big monetary values to set aside for this savings challenge, this challenge focuses on nickels.
The idea is to make small, daily deposits which is more manageable for many people. Similar to the 52 week savings challenge where you increase the amount deposited by $1 every week, the amount you deposit in this challenge increases by $0.05 each day.
Here’s how it works:
- Day 1- Deposit $0.05
- Day 2- Deposit $0.10
- Day 3- Deposit $0.15
Continuing that trend, halfway through the year you will be depositing $9.10. On the last day you will deposit $18.25. Those numbers seem so small in comparison to other savings challenges mentioned.
By the end of the challenge, you will have saved over $3,300 and it won’t even seem like you did anything at all!
If you download our tracker, you will need to print out 2 copies to fully complete this challenge.
100 Envelope Savings Challenge
The 100 Envelope Savings Challenge is a popular favorite! It’s fun to do and allows you to save different amounts each time you save.
Similar to the $5 savings challenge, there is no pre-determined end date for this challenge meaning you don’t need to save money every week or month in order to complete this challenge.
When you’re done, you’ll have $5,050 to either spend or put towards a bigger savings goal you have.
This savings challenge works best when done with cash so it’s perfect for cash budgeters!
Here’s how you get started:
- Head to your nearest Dollar Store and buy a pack of envelopes (enough to label them 1-100 individually)
- Take the envelopes out of the box and label each envelope with a number (start at 1 until you have labeled all 100 envelopes)
- Give the envelopes a shuffle and put them back in the box
- When you want to begin this challenge, take an envelope randomly from the box and fill with the appropriate amount (For example: If you pull the envelope labeled “42”, you will fill with $42)
- Put the completed envelope in the back of the box behind the empty envelopes
- Fill in the correct circle on the 100 Envelope Savings Tracker
That’s it!
This savings challenge is great because there is such a wide range of numbers you can choose from when you pick out your envelopes and the amount you pull is always changing.
Weather Wednesday
This savings challenge is not something you may not have heard of before but should consider trying out. The premise of this savings challenge is very simple—for every Wednesday in the year, you will save the equivalent of the high temperature for that day.
Here’s an example:
Say you look at your weather app into the coming week and you see the estimated high temperature of the day is 45 degrees Fahrenheit. That means you would deposit $45 dollars into your savings account for that week if that’s what the recorded high temperature is.
Typically, in the Northeast, January and February are two of the coldest months of the year so you can expect your weekly contributions to decrease as the weather gets colder and increase in the Spring when everything starts to thaw out again!
If you live in an area that generally has warmer weather, such as Arizona, you can use the estimated low temperature since the temperature surpasses 100 degrees Fahrenheit quite often in the summer and that can be too much for you to deposit if you are just getting started.
If you’re ready to try one or some of these challenges out, we’ve created printable trackers so you can watch your savings accounts grow while keeping track of each deposit!
Check the link in the show notes to view and download.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It's a new year and time for a new you. If you're planning to set personal resolutions that lasts longer than two weeks this year, you've come to the right place.
In this episode we're talking with Barbara Hatfield life coach about the benefits and challenges that come with setting new year's resolutions.
Links:
- Follow Barbara on LinkedIn
- Barb Hatfield Life Coaching on Facebook
- Books mentioned in the episode:
- The Gap and The Gain - Dan Sullivan
- Atomic Habits - James Clear
- The War of Art - Steven Pressfield
- Think and Grow Rich - Napoleon Hill
- The Secret - Rhonda Byrne
- Learn more about the Pomodoro Technique
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
- Contact us at tcupodcast@trianglecu.org
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
January is a great month for a fresh start. It’s the beginning of a new year and we’re often optimistic and energized to start making positive changes for our lives.
If you’re tired of the debt buildup you’ve been accruing over the months and even years, make one of your resolutions to get out of debt.
Links:
- Watch our Budgeting 101 webinar with step by step instructions on how to budget
- A personal loan can be a great debt consolidation tool
- Watch our Financial Freedom: Your Path to Debt Free Living webinar
- Check out these additional money tips on tools to help organize your finances:
- Wil's Top 4 Money Apps
- Creating a Debt Payoff Strategy
- Popular Financial Books for Your Reading List
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
New year resolutions are hard. They aren’t typically complicated, things like drink more water, exercise more, eat better, are all simple in nature, but a little more difficult to complete.
When it comes to making financial resolutions, the same concepts apply. Decisions to save more, spend less or get out debt don’t sound too hard, but are fraught with complex actions that if not set up properly, will likely end in failure.
If decreasing your debt is a resolution this year, you must set some things up right to give yourself the best chance of success.
When you think about achieving your debt reduction resolution, most of it comes down to proper planning. You need to create a strategy and stick with it. Just saying “I want to pay off my debt” isn’t enough to carry you through to completion. You need to pick a debt payoff method and develop a realistic plan that’s effective enough to help you meet your goal.
There’s a lot of debt advice out there and most of what you read, watch or listen to will present these three effective strategies to pay down debt.
The first is to plan to pay more than the minimum payments. You’re going to have to budget for this one if you’re serious about getting out of debt. Find a way to either bring in more money, or free up cash by cutting spending elsewhere to use as extra payments towards your debts. Some people try to make extra payments once a month, quarter or year, depending on their budget and the type of debt they have. One of my friends has been making extra payments on her home every quarter since she had her mortgage and is now set to pay off her house five years earlier than expected because of it. Imagine doing that with your own mortgage or credit cards.
The second is to use the snowball method. If you have multiple debts, you’ll want to systematically pay off your lowest debt first, and then, once it’s paid off, use the available cash to put towards the next debt, and so on. You’ll do this until all debts are eliminated.
For example, say you have three credit cards with balances of $5,000, $2,000 and $800. While you continue to pay your minimum payments on all of them, focus on paying off the $800 bill first. After it’s paid, take the money you were putting toward that payment and put towards the next debt, in this case the $2,000. Once the $2,000 is paid off, then put the money from those payments towards the $5,000. This method has been shown to be one of the most effective and faster ways of paying off debt.
The third is to consolidate. Having a variety of different debts can be confusing. It can be hard to keep track of all the different due dates and payments for each bill. Consolidation can help you in a couple of different ways. It will simplify the number of bills you receive and can often score you a lower interest rate. If you have many different bills, try consolidating some or all of them into a plan that makes it easier for you to pay and has the potential to save you money in the long run. Contact your financial institution or browse the internet to see what kinds of consolidation offers are out there.
If you’re a good planner pick one of these or use a combination of all three to build your debt payoff strategy.
Answer these specific questions when you create your strategy to keep it realistic and attainable. How much debt do I need to pay off? How soon do I realistically expect to be able to pay it all off? be specific here. Choose a realistic timeframe, like 6 months, a year or two years. And finally, ask yourself How much extra can I afford to put towards my principal payments?
The cool thing is there are a wide variety of tools available now to help with debt reduction. You can research a bunch of helpful apps and we’ve done some Money Tip Tuesdays in the past presenting some helpful tools for saving and debt reduction. You can also watch webinars like Triangle’s Financial Freedom: Your Path to Debt Free Living webinar on YouTube and of course, there are a wide variety of books you can read about debt reduction planning.
Once you’ve determined your plan, keep track of it. Put it in a spreadsheet, on your bathroom mirror or in your calendar to keep a constant eye on it. Consider allowing yourself small rewards for meeting important milestones along your journey and plan to treat yourself to something special once you finally accomplish your goal.
As the philosopher Aristotle once said, “success is easy to achieve once you set your mind on a specific goal.” Keep your goal top of mind and with a realistic, solid plan in place, you will be crossing that finish line in no time.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
If the price of gas frustrates you, some scammer trying to access your card information while you are gassing up might push you over the edge. In this tip you'll learn how you can protect yourself at the pump.
Links:
- Learn more about Triangle's contactless debit cards
- Learn how to manage your cards and create alerts within mobile banking
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making money Personal podcast.
More than ever, we are hearing about fraudulent activity at gas stations. Fraudsters use card skimming devices to gain access to your credit and debit card information at the pump and you might not even be aware of the threat.
According to fraud experts, the skimming device is attached to the pump to make it look like a piece of the gas pump payment terminal. After closer examination, you may notice that the reader is simply a piece of molded plastic that is attached to the card reader. Fraud experts encourage you to do a tug test on the device—if you can move the plastic, it’s probably a card skimmer and you should report it to the gas station attendant immediately. If you already used your card at the station, you should also notify your financial institution to minimize fraudulent activity on your card.
The good news is: there is new token technology for your protection, and many financial institutions, including Triangle Credit Union, offer this technology through mobile wallet and contactless card payments that protect you wherever you shop (or gas up). While tokenization saves time and is convenient, the process eliminates the need to input your Personal Identification Number (PIN), which minimizes fraudulent activity. Instead of a PIN-based transaction, mobile wallets issue an encrypted series of randomized numbers and/or letters in place of your card information. This series of numbers and letters is called a token. Similarly, contactless cards produce a one-time cryptographic code/token that masks your card information for a safe and secure transaction. These tokens are one-time use only, so if card or transaction data is fraudulently stolen from a payment terminal, your card information isn’t included, and the token cannot be reused.
In addition to the technical side of the security these features offer, mobile wallet will also protect you from the issues that come from losing or dropping your card. When you use mobile wallet to make a payment at the pump or at the register, your purchase is authenticated through a series of confirmations: first, your ownership of the device is authenticated through biometrics, then your intent to pay is authenticated by clicking or tapping on your device. So, the security of your device creates an additional layer of fraud prevention for unauthorized payments if you lose your mobile phone.
Triangle Credit Union’s mobile app also has integrated card controls so you can turn your debit and credit cards on or off with the toggle of a button. Keep your cards off when you’re not using them and turn them on to make a purchase. This will help protect your cards from unauthorized payments, anywhere at any time.
Add your Triangle credit or debit card to your mobile wallet today. Visit trianglecu.org to learn more about Mobile Wallet.
If you are member of Triangle Credit Union and would like to request a contactless debit card, please make an appointment through the concierge service at trianglecu.org and you can schedule a time to pick up your card at your convenient branch location.
If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook and IG for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day everyone!
It’s the New Year, which means you’ve probably made a few New Year’s resolutions. Is saving money one of them? Along with exercising more and spending more time with family and friends, saving money is near the top of New Year’s resolutions list in the U.S.
Unfortunately, only 9 to 12 percent of people keep their New Year’s resolutions, which is not great especially when it comes to something as important as saving money. Here are some tips to help you save money and keep your resolution.
Links:
- Listen to our money tip on doing your own Personal Money Review
- Watch our Budgeting 101 webinar on YouTube
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first thing you’re going to want to do is a financial review of your money and spending. If you’re not sure how to do that, we did a recent money tip episode on it which you’ll want to check out. Once you have finished your financial review, you will have a good idea of what you need to plan for in the future.
After your financial review, a good place to start saving is to create a budget. You can record your expenses so you know how much you spend on bills, food, entertainment, and other purchases. Focus on what you actually need to spend money on and decide if you really need to buy miscellaneous items. If you want to learn more about setting up a budget watch our Budgeting 101 webinar on Triangle’s YouTube channel.
Cutting down on extra expenses is a great way to save money. Sure, eating out is nice, but it can get expensive and it’s much cheaper to make your own food. Over the course of a year, this could save you hundreds or even thousands of dollars.
You can also cut down on the amount of money you spend on subscription services. Are there any services you aren’t really using anymore? Unsubscribe from them and save that extra money.
Look for cheap or even free things you can do instead. You can go for a run in the park to honor your “exercise more” New Year’s resolution. Spend time with family and friends talking and playing games. The more purchases you can find to cut, the more money you have in your wallet. Now you can put all this money you’re not spending into a savings account.
Set saving goals for yourself. How much would you like to have saved up one year from now? Take that number and divide it by how many paychecks you get a year. Put aside that amount of money after every paycheck and put it into your savings account. If you earn interest on your money in your savings account, that’s even better. The more money you put into savings, the more interest you’ll make. Triangle Credit Union offers a great online savings account that offers a competitive high yielding interest rate.
Another way to save money is to increase your 401(k) contributions. While you may not see this savings return immediately, you’ll thank yourself later. The more money you put in now, the sooner you’ll be able to retire.
With these money saving tips, hopefully you’ll be able to keep your New Year’s resolutions for the whole year! If these work for you, consider using them next year too!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
At the end of every year, and the beginning of a new one, we often feel an energy for new resolve. We look back and reflect on the things we accomplished and the things we hope to achieve in the new year.
If there’s anything you should consider starting fresh in the new year, it’s a revised look at your money. And that can’t be achieved without completing a personal money review.
Links:
- Open a Triangle Better Checking Account with ID Protect and access to your credit score and report at idprotectme247.com
- Learn more about estate planning, insurance, investing and other financial planning services with Triangle Financial Group
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
At the end of every year, and the beginning of a new one, we often feel an energy for new resolve. We look back and reflect on the things we accomplished and the things we hope to achieve in the new year. If there’s anything you should consider starting fresh in the new year, it’s a revised look at your money. And that can’t be achieved without completing a Personal Money Review.
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Sometimes looking back is the way to see forward. Albert Einstein is attributed to saying if you want to know the future, look at the past.
When it comes to the end of the year and the beginning of a new one, it’s good practice to look back in order to learn a few things about your behavior and decide what you want to change or keep the same in the new year.
This is pretty much the way we all make our resolutions. We reflect on the things we didn’t like and decide what we want to try to do differently. This can apply to pretty much any area of our lives, from habits to relationships and most of all our money.
If you’re looking for a way to change something important in your life, start with the way you view your finances. Do a personal money review.
The goal of a personal money review is to take account of your existing financial situation and determine where you think you’ll need to make changes to accomplish your new goals.
So, how do you do a personal money review? Fortunately, it’s not complicated and shouldn’t take a long time.
The first part of a personal money review is to review your income.
You want to take a look at where you made money over the year. This includes your income, bonuses, any dividends, money you made from side gigs, and even any notable gifts like any inheritance.
It may be challenging to collect all this information, but you can start with your latest paycheck and any quarterly statements for investment and bank accounts. Usually these are available to view at the beginning of January so you shouldn’t have to look too far to find them.
Then you add it all up to see how much money you brought in last year.
When reviewing your income, think about specific questions to ask like, Did you make as much as you wanted? Did you meet your savings goals? What are some specific ways to bring in some extra money this year?
Reviewing your income will give you an idea how much you can pull in in a year. If you have an income goal, use this as a gauge to discover how much more you need to bring in to meet that income goal.
The second part of your financial review is to look at your expenses.
Get a sense of what your expenses were throughout the year. If you’re a good budgeter, there shouldn’t be any surprises here, but if you’re new to budgeting this may take a little bit of digging.
Review the expenses you’ve incurred, especially the large ones. You may not be able to count all your expenses, unless you’re THAT organized, but take an account of what you can.
Have your credit card balances gone up? Maybe you’re beginning to charge too much on cards. Did your recurring expenses rise higher than expected? How much has food increased? Has your rent increased?
Take note of the answers to all these questions and calculate how much you’ll need to adjust in order to plan for the next year.
It’s not likely you’ll remember everything, but review anything big as well as your monthly expenses and other annual costs like car registration, life insurance and the like.
The idea of this is to detect certain areas of your spending over the last year that you either forgot about or didn’t plan for and then you should try to avoid those types of situations in the new year or find a way to budget extra for them this time around.
Review your credit report.
Why do you do this? Reviewing your credit report will give you an idea of where you stand from a lender’s perspective. If you’re planning for some big time purchases in the next year, whether it’s a new car, or a new house, your credit score will determine how likely you’ll be able to get financing for those things as well as how good of an interest rate you’ll be able to get.
When you’re looking over your score ask yourself if it’s as high as you would like it to be. If not, review your behavior over the last year and determine possible reasons why it may not be where you want it. Did you miss any payments? Apply for too many credit lines? Run your bills up too close to your credit limit? If some of these sound familiar, look at your credit report and review it for these types of actions.
Many popular credit platforms will assess your credit behavior and provide custom suggestions on what you can do to improve your score.
If you have a Triangle Better Checking account and are registered with ID protect, simply log into idprotectme247.com to see your credit score and view a free copy of your credit report.
If your score isn’t where you want it to be, take some time to draw up a strategy on how you can increase it over the next year.
The last thing you’ll want to do is review any wills or other documents if you’ve experienced any major life events over the last year.
Major life events like marriage or divorce, the birth of a child, death of a spouse, purchase or sale of a house, starting or selling a business or moving to a new state are all events that warrant adjusting a will and other important life documents.
If any of these have occurred in your life over the last year, it’ll be wise to review these documents and accounts to update beneficiary and asset information.
Professionals recommend you review your will and other documents completely every 4-5 years to keep things up to date. In this case, for a financial review, all you’ll need to consider is if anything has changed in the last year that would impact your will, and make a goal to take care of it through the proper channels.
You’ll also want to take a moment to review any of your insurance plans, auto, life, home and others to assess that the coverage is adequate, and the cost is competitive. One rule of thumb is that you should shop for certain types of insurance like auto insurance every two years to make sure you’re still getting a good price. If it’s been more than two years since you’ve explored other options, this year may be the year to try it out.
If you need any help when it comes to setting up a will or changing anything with your estate plan, you can contact our team at Triangle Financial Group. They offer financial planning services that cover everything from estate planning and insurance to investing and retirement.
That sums up this tip on how to do a personal money review.
The whole idea of a financial review is to take some time to reflect on the last year’s finances, the good and the bad, and take the necessary actions to set yourself up financially for the new year.
Set up a strategy for specific changes you want to make in the new year, whether it’s starting a budget, a side gig, increasing your income, building emergency savings, getting out of debt or investing.
Looking back gives you the chance to recognize both your successes and mistakes so you can set up new plans and goals for your future.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
It’s normal to spend money during the holidays. You want to give presents to the people you love to show how much you appreciate them. But now that the holidays are over, and you’ve given out all your gifts, you now have to deal with the financial aftermath. Here are some tips on how to recover from your holiday spending spree.
Links:
- Learn more about Triangle's Personal Loan and Personal Line of Credit
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The first thing you’re going to want to do is assess your financial situation. See how much money you owe and then start paying off your debt as quickly as possible.
To do this, you might have to change your monthly budget in January around. Make a list of all your debts, payment due dates, minimum payment amounts, interest rates, and when you plan on paying them off. From there, you can restructure your January budget to fit your needs best.
You will probably want to start paying off the credit cards with the highest interest rates first. Don’t just pay off the minimum monthly payment, even if it’s just an extra $10, the more money you put towards every payment the less you’ll owe in the long run and the faster you’ll pay it off. And always make sure to pay on time.
You can also open an unsecured personal loan to reduce the cost of paying back how much you owe. Personal loans typically have a lower interest rate than credit cards do which makes them great for debt consolidation. Triangle Credit Union offers a wonderful personal unsecured line of credit that is a helpful safety net for any unexpected expenses and gives you plenty of flexibility to access funds when you need them for any financial situation.
Did you get a holiday bonus or are you expecting some money from your tax returns? Consider using some of this money to put towards your holiday debt. Don’t consider bonuses or tax returns as money you can just freely spend, but rather view them as money you can save on the side or use to pay for things you’ve already bought.
Once you’ve done all that, now is the perfect time to start thinking about next year’s holiday shopping. Yes, it is a bit early, but if you start planning what to do with your money now, you hopefully won’t need to recover from your holiday spending next time.
One thing you can start doing now is put money aside specifically for holiday shopping. Budget out how much of your paycheck you want to put aside for this fund. By the time the holidays come around, you’ll have a nice amount of money to spend. Plan out what you are going to buy next time so you don’t overspend.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Do the holidays stress you out? Are you too busy with gatherings and gift giving? Let's take a breath and slow down and talk about ways to handle the holidays.
In this episode Terri and Liz chat about their holiday preparations and discuss a few different ways they handle all the hustle and bustle that comes every holiday season.
Links:
- Try using Triangle's popular Personal Loan for purchases or debt consolidation
- Use online banking and mobile banking tools to keep track of spending
- Explore the Money Management tool for help budgeting and paying down debt
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
We’ve all made impulsive purchases before! Impulsive buying is purchasing something that you have not planned to buy before that moment—it can be as small as a pack of gum in the grocery store checkout or as big as a new car when you were “just looking.”
Links:
- Check out our other episode Ways to Avoid Impulse Purchasing
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
During the holiday season, one in three purchases are made on impulse and we admit that buying something impulsively can be exciting in the moment, but it’s the buyer’s remorse that catches up with us after the fact.
Picture this: you’re starting your holiday shopping at the mall and on your way to the specific store when you pass a kiosk that has recently been set up for the holiday season. You stop for a minute to glance at the different items displayed before you. The items are not something you’ve seen before but the price tag is much higher than you want to spend.
The shop owner sees that you are considering buying something but senses your hesitation. They offer you a discount that seems too good to pass up! What do you do?
You may be urged to make a purchase but the smart thing to do is take a lap!
If you’re tempted to make a big purchase without any prior planning, it’s important to take a lap around the store or the mall to think about it before making a big commitment.
Walking away from the high-pressure situation allows you to clear your head and gain a new perspective. You can take some time to think about the practicality of the item and consider if buying it now is beneficial overall. It also gives you the chance to check online to see if you can purchase elsewhere at a lower price.
If you’ve had a chance to weigh the pros and cons of purchasing the item and you still want it, you can buy it when you’ve completed your lap!
There are other ways to stop yourself from impulse buying both online and in-store.
Do your research beforehand to figure out the cost of the item you intend to purchase. Once you know the price, only bring that amount of money in cash to the store with you. Not having extra cash or another form of payment limits you on what you can buy, which saves you from making impulse purchases.
Another way to stop impulse purchases online is to unsubscribe from store emails. Stores will constantly send out coupons or let you know when they are having sales. We’ve all been there. You’re checking your emails and you see an email subject line that reads, “TODAY ONLY! All sweaters as low as $5!”
Many of us would be enticed to visit the website to buy because it seems too good to be true, but if it’s not something you were planning on purchasing, it’s an impulse buy.
These tips are helpful to remember all year round, but especially during the holiday season! In-store window displays become flashier to entice consumers to buy more and retail stores send out more emails with sales and discount codes.
Remember to clear your head, remove yourself from the high-pressure situation and give yourself a day before making purchases.
If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook and Instagram for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day!
You may be crafty and have a niche for making cool gifts, but does that mean you should give your homemade creation to family and friends this gift giving season? It depends. There are some considerations on whether your homemade gift will be well received.
Links:
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Your intentions may be great, and if you want to make sure your homemade gift is well received, here are some practical considerations to think about before you spend 8 hours knitting a sweater for your aunt, who lives in Florida and suffers from chronic hot flashes:
- STYLE: Is your gift something the recipient would pick out for herself? This is probably the first question in the litmus test. I love to make family ornaments to give to my husband’s seven siblings—the problem is some of his siblings don’t have the same taste that I have. These ornaments have more a modern farmhouse theme, and one sister is a gold leaf gal who loves Italian impressionists, and her Christmas tree is decked out in gold balls. Be considerate of how these gifts may be received. If you can adapt to each one’s interests, then that’s best.
- PALATE – No, this does mean pallet furniture. This is about physical taste, as in food gifts. My best friend is a connoisseur of butter crunch and her annual gift of a tin of butter crunch is received with great anticipation and fanfare every year. If you have a special recipe and are excited about sharing the best chocolate walnut fudge recipe ever—do remember those with allergies and plan accordingly.
- SIZE – It’s not the size of the box that matters, right? Correct. What’s in the box is more important, but if your daughter lives in a 200 square foot studio, she may have to move if Dad makes her a handmade armoire.
Homemade gifts are heartwarming, sentimental, and cherished. Each gift reflects the giver’s time and effort…and truly, there is no higher commodity than someone’s time. If you make homemade gifts, or are interested in trying something new this season, do a little discovery. What do your relatives want? What are their interests? What’s trending on Pinterest, and here’s a pro tip: Whatever you give, make the unboxing experience amazing! Unboxing has become a gift in and of itself so take the extra time, like you did when making the gift, to create a beautiful gift presentation.
May you have a wonderful time of craft making and enjoy the season of giving! If you have any comments or ideas for additional tips, please email us at tcupodcast@trianglecu.org. Be sure to follow the Making Money Personal podcast page on Facebook and IG for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day everyone!
The holidays are a time of celebration, joy and generosity. This season of giving, take some time to participate in the many charitable activities available to you to bring a little light to someone’s life.
Links:
- Check out the American Red Cross to learn more about donating blood
- Explore this list of non-profit organizations that could use donations or volunteer support:
- The Salvation Army
- Make-A-Wish Foundation
- The Front Door Agency
- Nashua Soup Kitchen, Sonshine Soup Kitchen (Derry),
- New Hampshire Homeless Shelters and Food Pantry Directory
- Directory of New Hampshire Humane Societies and Animal Shelters
- Boys & Girls Club
- Meals on Wheels
- Harbor Homes (Now Harbor Care)
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Giving to others is a rewarding experience that teaches important lessons about generosity and self-sacrifice. Some can cost you money; others are entirely free. However you decide to give back this season, charitable giving is a rewarding and contagious act that can spread joy throughout the community and change people’s lives.
If you’re feeling in the holiday spirit and looking for a few ways to give back to your community, here are some ideas you might find helpful.
You can always donate money to organizations that need those funds to operate. Almost any organization you research could use financial help. They use this money to buy supplies, pay staff and raise awareness for their cause. Many organizations run holiday fundraisers where you can meet people, win prizes and learn more about what they do for the community. You can donate money online through website portals or donate in person when you see a display or presentation. For example, the Salvation Army sets up the Red Kettle fundraiser every year to ask for donations.
Donating money is a great way to help outreach organizations, but there are other ways to pitch in and contribute to individuals and families struggling for everyday items. You can donate clothing, hygiene items and other necessities to organizations like homeless shelters or children’s homes. Winter is one of the most critical seasons for clothing and the most requested items are usually new underwear and socks, warm weather clothing like jackets or sweatshirts, and shoes. Clothing items aren’t the only things needed. Many homeless shelters ask for donations of personal hygiene products, bedding, toys and baby clothes to offer to families with children and other people in need of these items.
If you don’t have the money or extra funds to buy physical necessities, you can still donate to people in need. This idea might make some a little squeamish, but you can donate your blood to a blood bank, most notably the Red Cross. According to redcross.org, somebody needs blood or platelets every 2 seconds. Blood donations provide lifesaving help to people struggling with a wide variety of illnesses and physical ailments. Many individuals fighting cancer, people who need lifesaving surgeries, accident and burn victims all need blood and benefit from blood donors. You may also want to know that one single blood donation can help multiple people. One visit to a blood drive could make the world of a difference to 2 or 3 people in need. For more information on how to donate visit www.redcrossblood.org.
The last way to help others this season is by donating your time by volunteering with a local organization. This can be one of the most rewarding experiences for any age. Studies show it increases dopamine which improves your mood. It also lowers stress and anxiety and can contribute to an overall feeling of well-being and purpose. You also get the opportunity to meet new people and learn more about their lives. It’s rewarding, fun and a great way to touch the lives of people around you. You can help distribute food with Meals on Wheels or try bell ringing with the Salvation Army.
Giving back is a rewarding, positive experience for all parties involved and can spread a lot of positivity and goodwill throughout the community.
If you’re interested in getting involved, here are a few organizations you could consider working with: Salvation Army, Make-A-Wish foundation, the Front Door Agency, the Soup Kitchen, Homeless shelters, your local humane society, Boys and Girls Clubs, Meals on Wheels and Harbor Homes.
There is a vast amount of need all around us. People need assistance and it’s important we show others they matter and that they aren’t forgotten. Many hands make light work and it’s a big help when we can assist those who dedicate their lives to helping others. It improves our environment and brightens our community.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holidays can be financially stressful, especially if you’re starting your holiday gift shopping but aren’t confident you’ll have enough to cover for what you’re planning to buy. Luckily, there are still some things you can do to get some extra money for holiday gifts.
Links:
- Try exploring some of the many places to sell items online like Facebook Marketplace, Ebay, OfferUp for ideas on what and how to sell
- Check out Triangle's Holiday Cash personal loan for low rate holiday borrowing
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you haven’t been saving money over the past year for your holiday gift fund you need to start thinking about how you’re planning to pay for this year’s gift giving.
If you’re looking for a few ways to bring in some extra money this season, here are a few ideas you can try.
The first thing you can do is find some things around your home to sell online. If you have stuff hanging around that you don’t use anymore, try selling what you can on one of the many online selling platforms. With Ebay, Facebook Marketplace, OfferUp and more, you could list your items and bring in some extra cash. Some of the most resalable items include home gym and workout equipment, sports memorabilia, Disney themed items, Star Wars themed items, designer clothing and handbags, Legos and popular kids' toys. Look around to see if you have any unused items in good condition and you could make a little money from.
Another thing you can do to make some extra cash for the holidays is pick up a part-time job or a side gig. Many companies are known to hire people for help during the holiday season. If you have some free weeknights or weekends, you can try getting a temporary position at one of these stores to bring in some extra cash for holiday gifts. If you’re up for something with a little more independence you could also consider a side gig like driving for Uber or Door Dash. These are flexible jobs where you have the freedom to pick up extra work on your own time.
Another way to get extra cash is you can see about picking up some overtime at your work. If your company offers overtime for employees, working a few extra hours could be the perfect way to bring in enough additional cash to cover your gift expenses. Overtime is great because you’ll be paid more per hour so check with your company and see if that is an option for you.
Another, pretty simple way to find money for gifts is to use your credit card points. If you’ve been building up credit card points all year trade them in for cash or other rewards that could help you purchase items. One of my cards lets me use points directly on Amazon so when I go to check out, I apply those points and save money immediately.
A final thing you can do is borrow some money from a bank or credit union. Many financial institutions provide promotional personal loan programs with lower rates so you can borrow money specifically for the holiday season. At Triangle we offer our very popular Holiday Cash personal loan which is a great option to borrow enough money for any kind of holiday expense.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
The holiday season is right around the corner, and with it comes the energy and excitement of holiday decorating, shopping and gatherings. If you haven’t already started your shopping yet, chances are you’ll likely start this process with a Black Friday kickoff.
Links:
- Check out the seasonal deals at Tom's Guide and blackfriday.com
- Learn more about Small Business Saturday and it's history
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Some people love the hustle and bustle of the holiday shopping season. There’s an energy and excitement surrounding the rush to find the perfect holiday gifts, and there’s no day more notoriously associated with holiday shopping than Black Friday.
Whether you love it or you hate it, the Friday following Thanksgiving is THE day that kicks off the holiday shopping season.
But, with all its flaws, and the rise of the internet, has Black Friday fallen out of favor among holiday shoppers and is Black Friday shopping still worth the hassle?
Putting aside the obvious downsides like long wait times, busy traffic and the occasional fight in the aisle, there are still some benefits of shopping on Black Friday.
The first is that you can still get some great deals. If you do your research ahead of time for some specific items, you could really make out when you take the time to shop at various stores. Exploring store ads and websites will give you a good idea of what items will be on sale and where you can get them.
A benefit to doing your Black Friday shopping in-person is that, if you get there in time, you’ll walk out of the store with the item you wanted. You don’t have to wait until it’s shipped and delivered. Some stores may advertise a “buy online pick up in store” offer, so keep an eye out for these if you want to cut your in-person wait time.
One great thing about Black Friday today is that most offers are now both in-store and online. So you don’t HAVE to visit the store in-person to get a good deal. Inernet shopping has truly revolutionized the holiday shopping experience. Many stores have started offering Black Friday deals early, so you can take advantage of the savings days and sometimes even weeks in advance.
You can start exploring deals through online resources like BlackFriday.com and tomsguide.com to get an idea of what kinds of items are for sale and how much they’ll be discounted.
One final notable thing about Black Friday is that some people see it as a social event to kick off the holidays. You can take the time to shop with friends and family which carries with it a form of personal value. Just make sure you plan out where you’re going and when so you don’t get stuck trying to make decisions on the fly which could take your trip from fun to frustrating.
As a side note, Black Friday isn’t the only day to score some big deals for your holiday shopping. You may find some on these other days, Cyber Monday and Small Business Saturday.
Cyber Monday is beginning to replace Black Friday as one of the busiest shopping days of the year. It occurs the Monday after Thanksgiving and is made entirely of online deals. It’s a super convenient option for many online shoppers with some deals being better than Black Friday. Just keep in mind that items are usually limited so make sure you log on in time and checkout before the deals disappear.
If you’re not a fan of the over-commercialization by large corporations, try participating in Small Business Saturday which encourages shoppers to support small businesses in a variety of different ways. This is on the Saturday following Thanksgiving and is intended to encourage shoppers to support the small businesses around the country who work hard to provide goods and services to their communities. It’s worth checking out.
So, going back to Black Friday, is it really worth the hassle? That’s entirely up to you. If you like the energy and the excitement of joining the hustle of Black Friday shopping, then by all means participate. Black Friday carries a lot of traditions and memories for many so if you’re doing it for the fun, you’ll enjoy yourself regardless.
What makes Black Friday better is that now with the massive ecommerce platforms on the web, you can participate and score some of those great deals without even having to leave your home.
If you do choose to go out for Black Friday this year, I hope you’ll be safe, have fun and score some great holiday savings.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Multi marketing channels are essential for business to expand their brand and reach.
In this episode Terri and Liz discuss the importance of using these channels and why it's imperative you have consistent messaging in your marketing.
Links:
- Check out platforms like Fiverr and Upwork for freelance help with a wide variety of marketing and business needs
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
During the holiday season, it isn’t uncommon for a popular toy, game console, electronic device, or other popular gift to be sold out quickly. Unfortunately, some people like to take advantage of your holiday spirit and raise the price of popular products. Here are some ways to avoid scalpers and price gouging this holiday season.
Links:
- Check out CamelCamelCamel to keep an eye on price fluctuations
- Check out our Holiday Shopping Quiz Money Tip Tuesday episode to check your fraud prevention skills
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Scalpers are people who figure out what the hot gift Items of the year are, buy a bunch of them until the stores are sold out and then sell the items at an upcharge of anywhere from a 50% to 200% increase. Some scalpers even use bots to buy up popular gift items and then list them from double to ten times the suggested retail price, not giving shoppers a fair chance to even click the purchase button.
It may be tempting to buy from them so you can get your hands on that gift, but don’t do it. Buying from them helps their scheme and also encourages other people to do the same. Also, if the scalpers see that people are buying at already ludicrous prices, it's probable that they will keep increasing the prices as their stock gets lower.
Want to avoid scalpers and getting price gouged? One thing you can do is get your holiday shopping done early. If you know what you plan on getting someone and you see it available, buy it before it’s too late.
Always know what the suggested retail price of the product is and what the trend of the price is. You’re less likely to get extorted this way. Camelcamelcamel offers an Amazon price tracker so you can see how much the price has changed and shop accordingly. There may be small price fluctuations based on the product’s availability but at least if you use this tool, you know you’re more likely to get a fair price.
Also make sure to be aware of who you are buying from. Places like Amazon and Walmart offer a lot of third-party sellers which may not be as trustworthy and up the price of hot items. If you can’t find the hot gift anywhere, but then see it on a website you’ve never heard of at a reasonable price, it’s probably a scam and not a legitimate store.
Want to know if you know how to shop safely online? Check out our online holiday shopping quiz and see how you do!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Have you ever received an offer that seemed too good to be true? If you’re getting emails or text messages excitedly telling you that you’ve won some sort of prize, think twice before taking on the offer, it’s likely an advance fee scam.
Links:
- Visit the Federal Trade Commission website to learn more and report fraudulent activity
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
An advance fee scam is a scam that offers you money, a prize, a special discount or other offer in exchange for a fee.
Scammers try to do this in specific ways, and especially in ways you’re not likely to notice.
They develop well-crafted messages that are designed to entice you to take specific actions to get you to pay them money. Fortunately, we’ve all grown more skeptical of any offers we get through email, but it’s important to remember that scammers are always changing tactics and trying new things to catch people off guard.
So how can you spot these scams? There’s a wide variety of advance fee scams out there so keep an eye out for some of these different tactics or any that seem similar.
Scammers may try to offer you loans without requiring any credit check. If you fall for their offer and apply, they then ask you to pay a fee for processing, insurance or anything else. Once they get the payment they disappear to never be heard from again.
Some may email or message you with a special offer for free or discounted tickets to a big event, concert or other type of experience. Everything about the message may appear legitimate, but if you fall for the scam and pay the money, they’ll take the money, disappear, and you’ll never get your tickets. If you receive any offer or prize that looks like it’s from a company you recognize, contact that company directly to confirm they sent the message.
Like the scam offering free or discounted tickets, other messages might claim that you’ve won a prize, large sum of money, or the lottery. Scammers will hook you into thinking you’re a winner and then ask you to pay a fee in order to collect the money. Like all the other examples, they’ll take the money and disappear.
Keep an eye out for scammers offering business opportunities or offers to work from home or start your own. They’ll hook you in with an attractive ad and offer all kinds of benefits like flexible work hours. Then they’ll require you to pay a registration or startup fee to get started. Make sure that any business opportunity you pursue is legitimate by researching the company name online and with the Better Business Bureau.
Other advance fee scams to keep an eye out for can be found in the world of online dating. Scammers pretend to be individuals looking to find dates or relationships. They take the time to build a relationship with an unsuspecting person and over time build their trust. Then eventually they pretend that they need help with money, whether it’s money for a travel visa, family issues or other life problems. Once they get you to pay them the money they simply disappear.
As you’ve probably realized by now, different types of advance fee scams can range from simple to complicated.
When you receive any message promising you a shockingly good offer or anyone you don’t know asking you for money, you must be on guard, because those offers are most likely scams.
Remember these top tips when it comes to suspicious messages.
- Don't react quickly, even if the message seems urgent
- Don’t click any links
- Don’t open any attachments
- Report it
- Delete it
Scammers are always coming up with new and sinister ways to get you to hand over your money. Don’t fall for it. Keep an eye out for anything suspicious that comes in through email, text or over the phone. Remember these tips and stay vigilant to keep yourself safe from being scammed.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
We all know we should probably talk to a financial advisor at some point in our lives, but we don’t always recognize the needs that arise where a financial advisor’s expertise will help you successfully navigate life’s changes.
Links:
- Learn more about Triangle Financial Group
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
There are many times in life where it’ll be beneficial to chat with a financial advisor. Whenever you go through a life-changing event, talking to a financial advisor can help you make the right financial decisions at the right time. So here are some life events when you’ll want to consider chatting with a financial advisor.
The first time to chat with an advisor is when you get married. Getting married is a big step in life. You have a lot of new financial decisions to make together like buying a home (if you haven’t already), whether to get life insurance and how much you’ll need, plus you’ll want to discuss planning for your future and retirement. Financial advisors can help you organize your finances, and they’ll help you work through setting financial goals as a couple, by helping you determine what you’re saving for, and how to properly take the right steps to reach those goals on time.
Another reason you’ll want to reach out to a financial advisor is when you have a new baby. If you just had your first child, it’s a good time to start thinking about how this change will affect you financially. Advisors can help you set up college planning funds, savings accounts and other types of saving options for your children. They can help you determine how best to prepare for your child’s financial future, even if your child is only a few months old. Growing your family is a big life choice and you will benefit greatly from talking with a financial advisor to make sure your family has a stable financial foundation.
A third reason to chat with a financial advisor is due to divorce or the death of a spouse. If you’re going through a divorce or recently lost a spouse, it’s a good time to have some important conversations with a professional. Advisors will help you manage your money especially after you’ve gone through an emotional and life-changing event. It’ll also be helpful to have someone unrelated to you helping you make money decisions that can be confusing, emotional or too exhausting for you to make on your own.
And the last one, if you receive an inheritance. If you’ve just received an inheritance from a family member or someone close to you, you’ll want to talk to a financial planner to get some advice on how to manage the funds. An advisor can help you assess your existing financial situation and determine how your recent inheritance will fit best in your overall financial plan. Should you save it, invest it, spend a portion of it? All of these are thoughts you’ll want to discuss with a financial advisor. You’ll also want to talk to an accountant to make sure any taxes have been paid (if required) and the IRS has all the proper documentation it needs.
Money management is important to maintain during big changes in life and chatting with a financial advisor can help you navigate those changes so your financial strategy stays on track.
If you’re looking for a planner you can contact Triangle Financial Group or TFG at Triangle Credit Union. TFG provides financial planners and services that can help you through many of the life events that were mentioned here. You can reach out to them via email or give them a call to set up an appointment.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Identity protection is something everyone should take seriously. There are a lot of threats out there it can be difficult to stay on top of the tactics all the time.
In this episode we’re chatting with Basil Paul, Resolution Manager for Econocheck about current identity theft trends and why everyone should seriously consider identity theft protection for themselves and their families.
Important notes:
19:20 "more than $10,000 available". In Triangle's program up to $10,000 is available. If a member had two Better Checking accounts they would have access to more.
18:34 "anyone living in house" - this is limited to family members. Friends and renters are not automatically covered. View the Description of Benefits for more information on who is covered.
Links:
- Learn more about Econocheck
- Learn more about Triangle's Better Checking Account and what it provides
- Listen to our prior podcast episode about protecting your identity with Better Checking
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
It’s time to start shopping for the holidays again, are you ready? With online shopping, buying gifts for the holidays has never been easier. However, there is also some risk involved with scammers waiting to take advantage of your holiday spirit. We have a quiz for you to see if you know what to do to protect yourself and your finances while shopping online.
Links:
- Listen to our fraud prevention podcast episode on Fraud Protection Tactics to Keep Your Family Safe with Jose Rivera Hernandez
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Question 1: When shopping online is it better to use your debit card or your credit card?
It is better to use your credit card. If your debit card is compromised, scammers can take funds directly from your bank account, whereas with a credit card, it just goes on your credit. There are also laws that limit your liability with credit card fraud, so you’re not financially responsible for unauthorized credit card use.
Question 2: You just received an email from someone claiming to be “Amazon” offering 75% off your next purchase if you click the link. You hover over the link and it does not go to Amazon. Should you:
- Click the link
- Report phishing
- Forward it to your mom and see what she thinks
- Reply to the email asking if this is real
The answer is B, report phishing. If you are not sure if an email is legitimate or not, it’s better to be safe than sorry. Do not click the link or interact with the sender, and definitely do not forward it to your mom or anyone else. This email is likely from a scammer trying to get your personal information.
Question 3: You have just finished shopping and are about to check out when you notice that next to the URL there is a triangle with an exclamation mark and it says “Not Secure”. Should you:
- Continue checking out and insert your payment method
- Stop shopping and leave the page
- Refresh the page
- Add more items to your cart
You should stop shopping and leave the page. Never put in your financial information or any personal information if it says “Not Secure”. Make sure that the website URL you are shopping from starts with HTTPS and there is a padlock icon next to it. This means that any information that you put in is encrypted.
Question 4: Which of the following should you do before shopping online:
- Update your browser and computer operating system
- Connect to a public WiFi network
- Make sure all of your passwords for online marketplaces are the same so you can login easier
- All of the above
The answer is A: update your browser and computer operating system. Updating these ensures that your security is up to date and will give you more protection. You should not connect to a public WiFi network, as these are often unsecure which makes getting to your financial information easier. Do not use the same password for everything, because if one password is compromised, they all are. Use unique and complex passwords for each site.
Question 5: The hottest gift of the year is sold out, but you need to get it. You finally found a seller on eBay but they have marked it up 100%. They don’t have any pictures of the gift except for one that came from the official website. You click on the seller’s profile and they are new. Should you buy from them?
The answer is of course no. The seller is either a scammer or a scalper. In this case, you can’t tell if the seller even has the item since the picture is from the official website and not from the seller. They might not even have the item. Or they are trying to take advantage of your holiday spirit and upcharge you by a lot. It is probably in your best interest to just wait until this item is back in stock.
That’s it for this quiz, how did you do? Let us know on our social media pages!
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
A quick Google search for a pros and cons list about whether you should buy a vacation home, will give you lots to think about. In this tip we talk about what you should consider before you buy that second home.
Links:
- Learn more about the existing research on home buying National Association of Realtors
- Chat with our Mortgage Originators with any questions on buying a second home
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Even the name, “vacation home” evokes happiness. Who wouldn’t want a vacation home, simply to associate time there with a “vacation”?
As more and more Gen X thru Z build their wealth and disposable income, vacation home sales are on the rise; according to the National Association of Realtors, second home purchases are up 51% from January – April 2021.
Let’s look at some common pros and cons of owning a 2nd home for the purpose of rest and relaxation:
Real estate is always a good investment. Depending upon when you buy, and how much you pay, real estate is usually a great investment because of the increase in demand and limited land on this planet. I have always heard you make money when you BUY real estate, not when you SELL so work with a real estate agent to make sure you’re not overpaying for that 2nd home. Your agent will run sale comparisons (or comps) of the area to support your offer.
You’ll always have a place to go. When you own the property, you can pretty much depend on its availability. The downside is this is a big world with lots to see; do you want to keep going to the same place? Or if you’re like me, you have to justify the cost per use ratio so you have to go every weekend to get your money’s worth regardless of all the other activities that you’re committed to—it can be exhausting!
You can rent it out and make money. The rise in Airbnb and VRBO have opened the world to rental properties. Once you are on their platforms, which I understand are fairly easy to use, you can make very good money renting out your space. If you want to use your home certain times of the year, you simply block availability.
The downside is: you're sharing your vacation home with strangers; you’re not staying with them, but they’re touching your stuff and using your toilets. There’s a lot to manage. You must set up cleaners and schedules and deal with people because they absolutely need another night and thought they booked it correctly only to find they didn’t, but you must take care of it.
I have some friends who recently looked into a vacation home. The good news is their current mortgage is paid in full and they had a sizable down payment for their vacation home. They did the right thing: they put the cost of ownership into their budget to see if their income would cover the costs. If you can’t pay in cash, you’ll need a mortgage, property insurance, maintenance funds, possibly Homeowner Association (HOA) fees which are highly likely for resort properties, and cleaning fees, if you’re renting it out and, wait for it…property taxes.
When I looked at the listing of the property my friends were considering, I knew they could handle the cots, but the monthly $1200 property tax bill shocked me. If you do need to take out a mortgage for a vacation home, please consult with a good Mortgage Originator, like those at Triangle Credit Union. You may find you need a higher down payment, but they will be able to work with you on your financial plan.
Speaking of financial plan, when you’re about to make a big decision like this, it’s always good to consult your financial planner—this is the person who knows your financial story and can objectively assess your situation. If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day everyone!
Fall is here. The air is crisp with a slight chill and you’ve probably noticed your neighbor’s yards are now decorated with pumpkins, scarecrows and other harvest themed decorations. If you’re a fan of the fall season, make sure you take some time to get out and try at least one of these five fun things to do in the fall.
Links:
- Local Farms to check out: McQuesten Farm, Elwood Orchards, Sunnycrest Farm Lull Farm, Charmingfare Farm
- For spooky fun, visit Nightmare New England or Canobie Lake's ScreeemFest
- Plan a trip to the White Mountains
- Go for a nature walk through Mine Falls Park, Andres Institute of Art, or NH Rail Trails
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
The fall season has finally arrived. If you’ve been in New England long enough, you’ll know that even though winter is right around the corner, there’s still plenty of activities you can enjoy before the cold comes to stay.
If you like getting out and enjoying all the things a NE fall offers, then keep listening to hear about five fun things you can do during the fall season.
The first is to go apple picking. No fall is complete without a trip to a nearby orchard to pick some fresh apples. This is a great activity that many families enjoy together with some even making it an annual tradition. You get to find and select a bunch of fresh apples to enjoy right away or to bake pies, make jams, or cook some delicious apple sauce to share with family and friends during the season. My favorite is homemade apple butter. It’s thicker than sauce and quite delicious when served on warm toast.
Make time to visit a local farm for a variety of activities. Local farms are sure to have an abundance of activities for both kids and adults. Pick up some fresh pumpkins for carving. If the farm has one, try a corn maze. Some also offer tasty treats like apple cider donuts or slices of pie and other baked goods. If you have kids, visit a farm with a petting zoo so your kids can pet and feed the animals. If you’re on the lookout for a local farm to visit, try exploring McQuesten Farm in Litchfield, Elwood Orchards or Sunnycrest Farm in Londonderry, Lull Farm in Hollis and Charmingfare Farm in Candia. There are more than mentioned here, it is NH after all, so do an internet search to see what other farms you can visit in your area. Check other states too like VT, MA and ME to see what their farms have to offer.
If you’re into scary stuff, try visiting a spooky world or other haunted experience. You can visit one of the many frightful events going on in the area like Nightmare New England at Mel’s Funway Park in Litchfield or Canobie Lake’s Screeemfest in Salem. For a more affordable option, some local area schools and community centers host their own spooky experiences like hayrides and haunted houses you may be interested in visiting. So, this season, if it’s your thing, take the time to get dressed up, put on your scary makeup and have a night of frightening fun.
Another thing on this list is to go on a hike to enjoy the colorful foliage. Fall is the perfect time to get out and enjoy the great outdoors especially because of the beautiful, colorful foliage a New England fall offers. You can take a day trip up to the mountains for a hike. The White Mountains offer some great hikes for different levels ranging from beginner to experienced. Make it a day trip! Pack a lunch, bring a friend and take lots of pictures. If you’re not into climbing mountains, and you’re looking for something a little less involved, you can enjoy some of the shorter nature hikes in your area and still soak in the beauty that fall has to offer. Check out Mine Falls Park in Nashua, The Andres Institute of Art in Brookline, or any local rail trails in your area.
And lastly, explore some of the local fairs or festivals. Fall is fair time. If visiting fairs is your thing, try to visit at least one this year. There are so many things you can do at a fair like eating all kinds of different food, checking out local vendors, petting animals and watching live performances. Fairs offer so many fun activities for the whole family and you’re sure to make many lasting memories.
That’s the list of five fun things to do in the fall. If you enjoy other fall activities that weren’t mentioned, feel free to share them on social media. We would love to hear what others like to do during the fall season.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB, IG and Twitter pages and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Do you know that identity thieves don’t need to steal your entire identity to use your information?
Sometimes a single piece of information is all they need to build a whole new identity in a practice known as synthetic identity fraud.
Links:
- Learn more about Triangle's Better Checking account with IDProtect*
- Have a Better Checking account? Register now at idprotectme247.com. Contact Triangle CU with any questions on getting set up.
- Learn more about the Big Three credit bureaus: Experian, Equifax, TransUnion
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Experian.com mentions that synthetic identity fraud is one of the fastest growing types of financial crimes out there.
This type of identity fraud is when someone steals an identifying piece of information, typically, a social security number, and they use it with other information they’ve made up to create an entirely new identity.
There are many ways a thief can get social security numbers, with one of the most popular places being the dark web. Once they get it, they create a new identity and use it to establish credit, apply for government programs, open bank accounts and for other criminal ways. Oftentimes they use the single number to create many different identities.
If you want to keep your identity safeguarded, you need to protect as much of your information as possible. Here are a few things you can do to keep your information out of thieves’ hands.
The first is to monitor your credit by checking it regularly. Pay attention to statements, reports and notifications related to your identity.
Another thing to do is request a credit freeze or lock. You can contact each credit bureau to freeze or lock your credit so no one can gain access to your report. It blocks authorized access as well as unauthorized access so make sure you unfreeze or unlock it first before you choose to apply for anything that requires a credit check.
You can also freeze your kids’ credit. Kids are often victims of identity fraud. Thieves can steal their social security numbers and personal information. You can freeze your kids’ reports by making a request to each of the credit bureaus. They’ll create a report and then freeze it to keep anyone from stealing their SSNs and other information.
Make sure you are careful where you share information. Social media can be a gold mine for fraudsters who are looking for identifying information. Be careful when sharing personal information like birthdays or addresses on social sites. Also, if you’re providing information to a new company or business and it asks you for your or your child’s SSN, you can push back and ask them if it’s necessary, and if you could use another form of identification instead.
Keep an eye on your mail and other documentation. If you get notices or pre-approved credit offers in your child's name, that could be a sign of identity theft. Also, make sure you shred any mail, paper statements and pre-approved credit offers you don’t need. Dumpster diving is still a thing and people can still get personal information from digging through trash.
Get id protection in case something happens. Monitoring and notifications are the first line of defense when it comes to safeguarding your identity. But sometimes things can still happen. Get set up with an identity theft protection service so if you ever become the victim of identity fraud, you’ll have an advocate who can help you manage it and recover.
If you don’t have identity protection, Triangle Credit Union offers a Better Checking account with ID Protect. This service provides credit monitoring, fraud resolution, and monthly credit reports to help you keep an eye on your identity. If you’re looking for a first step, that’s a good place to start.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB, IG and Twitter pages and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
*ELIGIBILITY: IDProtect service is a personal identity theft protection service available to personal checking account owners, their natural person joint account owners and their eligible family members (as defined below). The service is available to non-publicly traded businesses and their business owner(s) listed on the account and their eligible family members (service not available to employees or authorized signers who are not owners). For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s) and their eligible family members. For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member, and the beneficiary’s eligible family members (Fiduciary is not covered). Service is not available to a ""signer"" on the account who is not an account owner. Service is not available to clubs, organizations and/or churches and their members, schools and their employees/students. Eligible Family Members include: Spouse, persons qualifying as domestic partner, and children under 25 years of age and parent(s) who are residents of the same household. Insurance product is not a deposit; not NCUA insured; not an obligation of credit union; and not guaranteed by credit union or any affiliated entity. Registration/activation required.
Triangle Credit Union membership is available to anyone working or residing in the Hillsborough, Merrimack, Belknap, Rockingham, and Cheshire Counties of New Hampshire, as well as the Franklin, Worcester, Middlesex, and Essex Counties of Massachusetts.
If you're a small business owner and interested in how to boost your marketing, in this episode Terri, Marketing Manager at Triangle Credit Union and Liz, Marketing Media Producer, discuss setting brand goals for marketing your small business. We cover best practices, trends and strategies you can adopt to create your next marketing game plan.
Links:
- Have any questions about this episode? Email us at tcupodcast@trianglecu.org
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
If you're a small business owner and interested in how to boost your marketing, in this episode Terri, Marketing Manager at Triangle Credit Union and Liz, Marketing Media Producer, discuss setting brand goals for marketing your small business. We cover best practices, trends and strategies you can adopt to create your next marketing game plan.
Links:
- Have any questions about this episode? Email us at tcupodcast@trianglecu.org
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Working from home is starting to become the new normal now, with many people opting to continue working from home instead of returning to the office. Is working from home right for you? Here are some pros and cons that you should consider.
Links:
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To begin with, the commute is completely eliminated when working from home. No more fighting the traffic to get to work on time. You will also save money on gas by not driving back and forth between your home and the office. When you work at home, all you have to do is boot up your computer and you are already there. This also means that you can live wherever you want. By not having to commute into the office, you could live thousands of miles away and still make it to work on time.
Working from home also allows you to be more flexible. If you need to keep an eye on your kids, walk the dog, or go to a doctor’s appointment, you can do that much easier now.
Several studies have actually found that people who are working from home are more productive than when they were in the office. The statistics show that productivity increases by up to 77% when working at home. This may be in part to fewer interruptions in the workday.
If you’re more of an introverted person, working from home gives you more time to recharge before you go out again. Now, you will only see your coworkers in online meetings. However, if you’re more of an extroverted person, this is more of a con than a pro.
One downside of working from home is the expense of a home office. First, you will need to have a physical space where you can work without having any distractions. You might have to buy a few office supplies such as a desk, a comfortable chair, and whatever else you will want. There will also be the additional cost of utilities since you will now be spending more time at your home instead of the office.
Another downside is that you won’t get a change in scenery very often. Working and living in the same place might be convenient, but you’ll quickly get tired of being in the same environment every day. You will need to make an effort to get out of the house every once in a while, to get a change in scenery.
Communication can also be a bit tricky when working from home. Since most of your interactions will now be digital, you need to be conscious of your “electronic tone” when sending messages. Conveying your tone over messages or email can be difficult since people can’t read your facial expression, body language, and other cues to understand your tone. Make sure that your messages are clear, concise, and positive.
You also need to consider how self-motivated you are as a worker. Without a boss physically there, you may find it easy to procrastinate while the deadlines sneak up on you. Being self-motivated means that you actually work on the projects instead of letting them all pile up.
These are the pros and cons of working from home. It’s a lot to consider, but in the end it comes down to if you think working from home or in the office is right for you.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Working from home is starting to become the new normal now, with many people opting to continue working from home instead of returning to the office. Is working from home right for you? Here are some pros and cons that you should consider.
Links:
- Follow our Facebook, Instagram and Twitter pages!
- Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
To begin with, the commute is completely eliminated when working from home. No more fighting the traffic to get to work on time. You will also save money on gas by not driving back and forth between your home and the office. When you work at home, all you have to do is boot up your computer and you are already there. This also means that you can live wherever you want. By not having to commute into the office, you could live thousands of miles away and still make it to work on time.
Working from home also allows you to be more flexible. If you need to keep an eye on your kids, walk the dog, or go to a doctor’s appointment, you can do that much easier now.
Several studies have actually found that people who are working from home are more productive than when they were in the office. The statistics show that productivity increases by up to 77% when working at home. This may be in part to fewer interruptions in the workday.
If you’re more of an introverted person, working from home gives you more time to recharge before you go out again. Now, you will only see your coworkers in online meetings. However, if you’re more of an extroverted person, this is more of a con than a pro.
One downside of working from home is the expense of a home office. First, you will need to have a physical space where you can work without having any distractions. You might have to buy a few office supplies such as a desk, a comfortable chair, and whatever else you will want. There will also be the additional cost of utilities since you will now be spending more time at your home instead of the office.
Another downside is that you won’t get a change in scenery very often. Working and living in the same place might be convenient, but you’ll quickly get tired of being in the same environment every day. You will need to make an effort to get out of the house every once in a while, to get a change in scenery.
Communication can also be a bit tricky when working from home. Since most of your interactions will now be digital, you need to be conscious of your “electronic tone” when sending messages. Conveying your tone over messages or email can be difficult since people can’t read your facial expression, body language, and other cues to understand your tone. Make sure that your messages are clear, concise, and positive.
You also need to consider how self-motivated you are as a worker. Without a boss physically there, you may find it easy to procrastinate while the deadlines sneak up on you. Being self-motivated means that you actually work on the projects instead of letting them all pile up.
These are the pros and cons of working from home. It’s a lot to consider, but in the end it comes down to if you think working from home or in the office is right for you.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.
Links:
- Learn more about APR
- Listen to our Calculating Your Net Worth Money Tip Tuesday episode
- Freddie Mac information about credit scores
- Podcast episodes on credit:
- What the Heck is Credit and Why is it Important?
- Strategies to Build Your Credit
- Listen to our Starting Your Emergency Fund Money Tip Tuesday episode
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.
Think you’re up for the challenge? Give it a shot and see how well you do!
Good luck and let’s begin!
Question 1: What does APR stand for?
APR stands for Annual Percentage Rate.
Investopedia defines APR as “the yearly interest generated by a sum that's charged to borrowers or paid to investors.” If you borrow money from a lender, you’ll be charged interest on your payments. The APR tells you the percentage rate that you can expect to pay over a one-year period. In many types of loans, the rate and the APR are the same, but other times they can differ due to additional fees or charges associated with the loan.
Next time you’re rate shopping, take note of not only the interest rate you’ll pay, but that APR as well.
Question 2: Net worth is calculated by subtracting your debts from your what?
Net worth is calculated by subtracting all your debts (or liabilities) from your assets.
Assets are things you own that have value. Things like investments, cash and savings accounts, collectibles and jewelry are considered assets. On the flip side, your debts are everything that you owe money on. Things like your mortgage, auto loan, and credit card balances are all considered debts. When you calculate your net worth, you subtract the total number of your debts from the total number of your assets.
If you’re interested in learning more about how to calculate your net worth, we have a Money Tip Tuesday episode that walks you through the steps on how to do it.
Question 3: If you want a healthy credit score, you should keep your debt to credit ratio below what percentage? A) 80% B) 30% C) 50%
Answer: B) 30%
Your debt to credit ratio is used to describe how close you come to reaching your credit limit. A 100% debt to credit ratio means you’ve borrowed 100% of your credit line and essentially maxed out your card. This does not look good for your credit.
If you want to maintain a healthy credit score, you should aim to keep your debt to credit ratio at 30% or below. For example, if you have a $10,000 credit limit, you should be keeping your charges at or below the $3,000 amount.
Question 4: What are the 5 main factors that add up to make your credit score?
According to Freddi Mac, the main factors are: Payment History, Amounts you Owe, Length of Credit History, Credit Inquiries, and Types of Credit You Use.
These are all factors used to determine your credit score. Each carries a different weight so some are more important than others.
If you’re trying to find ways to boost your credit score you can look at these factors. Pay attention to each one and how they can affect your personal credit history.
For more information about credit, you can listen to our prior episodes, What the Heck is Credit, and Strategies to Build Credit.
Question 5: How many months' worth should you have saved in an account for a healthy emergency fund? A) 1-2 B) 10-12 C) 3-6
Answer: C) 3-6 months
Your emergency fund is an account of money that you have set aside for emergency purchases. You should aim to have 3-6 months’ worth of expenses set aside in this account in case something happens. For example, if your living expenses are around $5,000 a month, a healthy emergency fund would have $15,000 – $30,000 saved in it.
Having an emergency fund is an important financial goal to meet because it provides a lot of flexibility and assurance if life brings about unexpected challenges.
If you don’t have an emergency fund yet, it’s a good idea to start one. If you can’t save the full 3-6 months right away, don’t worry. Just start saving something and make that 3-6 months your next financial goal to meet.
This wraps up our quick financial quiz.
How did you do? Let us know on social media!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB, IG and Twitter pages and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.
Links:
- Learn more about APR
- Listen to our Calculating Your Net Worth Money Tip Tuesday episode
- Freddie Mac information about credit scores
- Podcast episodes on credit:
- What the Heck is Credit and Why is it Important?
- Strategies to Build Your Credit
- Listen to our Starting Your Emergency Fund Money Tip Tuesday episode
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.
Think you’re up for the challenge? Give it a shot and see how well you do!
Good luck and let’s begin!
Question 1: What does APR stand for?
APR stands for Annual Percentage Rate.
Investopedia defines APR as “the yearly interest generated by a sum that's charged to borrowers or paid to investors.” If you borrow money from a lender, you’ll be charged interest on your payments. The APR tells you the percentage rate that you can expect to pay over a one-year period. In many types of loans, the rate and the APR are the same, but other times they can differ due to additional fees or charges associated with the loan.
Next time you’re rate shopping, take note of not only the interest rate you’ll pay, but that APR as well.
Question 2: Net worth is calculated by subtracting your debts from your what?
Net worth is calculated by subtracting all your debts (or liabilities) from your assets.
Assets are things you own that have value. Things like investments, cash and savings accounts, collectibles and jewelry are considered assets. On the flip side, your debts are everything that you owe money on. Things like your mortgage, auto loan, and credit card balances are all considered debts. When you calculate your net worth, you subtract the total number of your debts from the total number of your assets.
If you’re interested in learning more about how to calculate your net worth, we have a Money Tip Tuesday episode that walks you through the steps on how to do it.
Question 3: If you want a healthy credit score, you should keep your debt to credit ratio below what percentage? A) 80% B) 30% C) 50%
Answer: B) 30%
Your debt to credit ratio is used to describe how close you come to reaching your credit limit. A 100% debt to credit ratio means you’ve borrowed 100% of your credit line and essentially maxed out your card. This does not look good for your credit.
If you want to maintain a healthy credit score, you should aim to keep your debt to credit ratio at 30% or below. For example, if you have a $10,000 credit limit, you should be keeping your charges at or below the $3,000 amount.
Question 4: What are the 5 main factors that add up to make your credit score?
According to Freddi Mac, the main factors are: Payment History, Amounts you Owe, Length of Credit History, Credit Inquiries, and Types of Credit You Use.
These are all factors used to determine your credit score. Each carries a different weight so some are more important than others.
If you’re trying to find ways to boost your credit score you can look at these factors. Pay attention to each one and how they can affect your personal credit history.
For more information about credit, you can listen to our prior episodes, What the Heck is Credit, and Strategies to Build Credit.
Question 5: How many months' worth should you have saved in an account for a healthy emergency fund? A) 1-2 B) 10-12 C) 3-6
Answer: C) 3-6 months
Your emergency fund is an account of money that you have set aside for emergency purchases. You should aim to have 3-6 months’ worth of expenses set aside in this account in case something happens. For example, if your living expenses are around $5,000 a month, a healthy emergency fund would have $15,000 – $30,000 saved in it.
Having an emergency fund is an important financial goal to meet because it provides a lot of flexibility and assurance if life brings about unexpected challenges.
If you don’t have an emergency fund yet, it’s a good idea to start one. If you can’t save the full 3-6 months right away, don’t worry. Just start saving something and make that 3-6 months your next financial goal to meet.
This wraps up our quick financial quiz.
How did you do? Let us know on social media!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB, IG and Twitter pages and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Dangerous fraud scams are all around us. In fact, they are getting more sophisticated and convincing by the day. If you get suspicious phone calls from your bank, stay calm and don’t panic, because you just might be getting scammed.
Links:
- If you believe you've been scammed, you can report it right away to the authorities. Visit usa.gov for more information.
- Did you know? Triangle's Better Checking account offers ID Protection that monitors your identity for fraud.
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Scammers are using more sophisticated technological tricks to get you to hand over your sensitive information.
Some latest scams appear to be convincingly from trusted financial institutions.
Here’s a story about someone who recently faced a scammer claiming to be from their bank. Let’s call this person Jack.
One day Jack received a phone call.
The caller claimed to be from Jack’s bank and the caller ID even showed the bank phone number.
The caller said they were from the fraud department and was calling about Jack’s debit card ending in... and rattled off the correct last four digits of Jack’s debit card.
The caller then asked if Jack had been traveling recently and then stated that there were reports of suspicious card activity in some out of state stores.
Jack is a little alarmed and stays on the line to find out more.
He confirmed he didn’t make any purchases at those stores and the caller then said they could get him a new card if Jack could confirm his address and phone number.
Then the caller reads off Jack’s correct home address and phone number, and even sends a verification code to Jack’s cell phone.
Then the caller asks for Jack’s PIN to deactivate the debit card.
This set off a red flag and Jack refuses to give out his PIN.
The caller pushes back by pointing out that the caller ID number matches the service phone number on the back of Jack’s card.
But, because things seemed too suspicious and Jack didn’t trust the caller, he said he would hang up and call the bank back himself.
At this point, the caller abruptly hung up the phone, further confirming Jack’s suspicion that the call was a scam.
Calls like these can happen to anyone. To keep your information secure you must remain on guard and aware of the threats. Question everything and brush up on your bank’s communication policies. Many will provide a list of things they will never ask you for over the phone, or in any email or text message.
Here are a few key identifiers for fraudulent messages to keep in mind in case you ever come across a scam like this.
- Usually if the message has an urgency to it, it’s fake. Messages that alarm you and then immediately ask you to act prey on your emotions and get you to impulsively hand over all kinds of sensitive information without stopping to think about it.
- If the message asks for you to provide sensitive information like login information, PINs, social security numbers and bank accounts it’s most likely a scam.
- If the message is offering you a special prize or tells you you’ve won a lottery or sweepstakes and then it requires you to pay a fee to get it, it’s a scam.
Stay on guard with every message, be it a phone call, text or email. Scammers can be very convincing so make sure you stay aware of their tactics so you can keep your personal information safe.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Dangerous fraud scams are all around us. In fact, they are getting more sophisticated and convincing by the day. If you get suspicious phone calls from your bank, stay calm and don’t panic, because you just might be getting scammed.
Links:
- If you believe you've been scammed, you can report it right away to the authorities. Visit usa.gov for more information.
- Did you know? Triangle's Better Checking account offers ID Protection that monitors your identity for fraud.
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Scammers are using more sophisticated technological tricks to get you to hand over your sensitive information.
Some latest scams appear to be convincingly from trusted financial institutions.
Here’s a story about someone who recently faced a scammer claiming to be from their bank. Let’s call this person Jack.
One day Jack received a phone call.
The caller claimed to be from Jack’s bank and the caller ID even showed the bank phone number.
The caller said they were from the fraud department and was calling about Jack’s debit card ending in... and rattled off the correct last four digits of Jack’s debit card.
The caller then asked if Jack had been traveling recently and then stated that there were reports of suspicious card activity in some out of state stores.
Jack is a little alarmed and stays on the line to find out more.
He confirmed he didn’t make any purchases at those stores and the caller then said they could get him a new card if Jack could confirm his address and phone number.
Then the caller reads off Jack’s correct home address and phone number, and even sends a verification code to Jack’s cell phone.
Then the caller asks for Jack’s PIN to deactivate the debit card.
This set off a red flag and Jack refuses to give out his PIN.
The caller pushes back by pointing out that the caller ID number matches the service phone number on the back of Jack’s card.
But, because things seemed too suspicious and Jack didn’t trust the caller, he said he would hang up and call the bank back himself.
At this point, the caller abruptly hung up the phone, further confirming Jack’s suspicion that the call was a scam.
Calls like these can happen to anyone. To keep your information secure you must remain on guard and aware of the threats. Question everything and brush up on your bank’s communication policies. Many will provide a list of things they will never ask you for over the phone, or in any email or text message.
Here are a few key identifiers for fraudulent messages to keep in mind in case you ever come across a scam like this.
- Usually if the message has an urgency to it, it’s fake. Messages that alarm you and then immediately ask you to act prey on your emotions and get you to impulsively hand over all kinds of sensitive information without stopping to think about it.
- If the message asks for you to provide sensitive information like login information, PINs, social security numbers and bank accounts it’s most likely a scam.
- If the message is offering you a special prize or tells you you’ve won a lottery or sweepstakes and then it requires you to pay a fee to get it, it’s a scam.
Stay on guard with every message, be it a phone call, text or email. Scammers can be very convincing so make sure you stay aware of their tactics so you can keep your personal information safe.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
You just passed your driving test and you’re ready to hit the open road with new wheels. Before you start looking for your first car, you need to consider all the costs of auto ownership.
Links:
- Visit Car Max, Car Gurus, AutoTrader to search for cars
- Try using Triangle's AutoSmart tool to find your next car
- Check out Triangle's current vehicle rates
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
New drivers are excited about the newfound freedom that comes with a drivers’ license, but to really experience true liberation you have to have your own vehicle. We just went through an auto purchase with my 18-year-old daughter who needed a car for college. Here’s what we found out: the sticker price is only the beginning.
Once you know your budget, you can do online searches through third-party apps like CarMax, CarGuru, AutoTrader—the list goes on and on. I would tell you it’s a quick search, but it’s not. We spent weeks searching for the right vehicle online. I knew the make and model of the car we were looking for and, with some online searching, I soon realized my budget was unrealistic unless I wanted an older vehicle or one with a lot of miles.
When I mentioned that the search results were producing vehicles from three states away, my older daughter suggested I look at some used car lots in a town nearby—this area is notorious for small used car dealerships. I knew I didn’t want to drive 5 hours to look at a car I might not buy, so I searched used car dealerships in that town. This search produced a list of eight used car dealerships. At this point, I just went to each dealerships’ website to see what they had for inventory.
We found the perfect car and made an appointment to look at it. The following day we arrived after school and were notified the car had already been sold. While we disappointed, we were optimistic we could find a good car with this dealer. My daughter and I were invited to walk the lot to see if there was another vehicle that would be a good fit for her. We found it and took it for a test drive!
Now here’s where it gets interesting. The sticker price for the car was $8,500. The dealership fee (which is a fee the dealership must pay to our state is $250) so now the price is $8,750. I have purchased three cars within the past two years and every dealership, no matter the size, must comply with this fee, which means it’s passed on to you, the consumer. If you buy from a private seller, you shouldn’t have this additional cost.
Before we left the lot, we added insurance on the car. I made a quick call to my insurance company, which is national insurance provider, and added the car to my policy. There was an immediate payment due of $224, which is part of the prorated premium for the current insurance period.
The next step is to register your car. This is a trip to the DMV, which I would pay $1000 for someone to do for me; actually, that’s an exaggeration, I would pay someone at least $100. In any case, you don’t have to pay anyone to go to your local DMV, but you do need to register your car. The cost of registration varies and is based upon the age and weight of your vehicle. I’m not aware of the actual formula, but for my daughters 2016 Nissan Versa sedan the registration cost for state and city was $180. For newer, heavier vehicles, like a 2022 pickup, the registration costs will be much higher.
You will also need to have your car inspected, which is about $50 depending on where you live and where you have your inspections done. If you’re buying a car from a dealer, the dealership will do the inspection, so the vehicle has an updated inspection sticker.
OK, so let’s add up our numbers: price of car ($8,500), plus dealership fee ($250), plus insurance ($224), plus registration ($180), plus inspection ($50) is $9,204. Since my daughter’s car had the inspection sticker, the true cost of purchasing her car was $9,154 -- $654 above the sticker price. This may or may not be important, depending upon your income or budget, but these costs are something to remember and consider before you purchase that first car.
That’s today’s Money Tip. If you have any other tips that could be helpful to other listeners, let us know at tcupodcast@trianglecu.org. Be sure to check out our other tips and episodes on the Making Money Personal podcast and follow us on Facebook and Instagram.
Thank you to our sponsor, Triangle Credit Union, and thanks for listening.
Have a great day everyone!
You just passed your driving test and you’re ready to hit the open road with new wheels. Before you start looking for your first car, you need to consider all the costs of auto ownership.
Links:
- Visit Car Max, Car Gurus, AutoTrader to search for cars
- Try using Triangle's AutoSmart tool to find your next car
- Check out Triangle's current vehicle rates
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
New drivers are excited about the newfound freedom that comes with a drivers’ license, but to really experience true liberation you have to have your own vehicle. We just went through an auto purchase with my 18-year-old daughter who needed a car for college. Here’s what we found out: the sticker price is only the beginning.
Once you know your budget, you can do online searches through third-party apps like CarMax, CarGuru, AutoTrader—the list goes on and on. I would tell you it’s a quick search, but it’s not. We spent weeks searching for the right vehicle online. I knew the make and model of the car we were looking for and, with some online searching, I soon realized my budget was unrealistic unless I wanted an older vehicle or one with a lot of miles.
When I mentioned that the search results were producing vehicles from three states away, my older daughter suggested I look at some used car lots in a town nearby—this area is notorious for small used car dealerships. I knew I didn’t want to drive 5 hours to look at a car I might not buy, so I searched used car dealerships in that town. This search produced a list of eight used car dealerships. At this point, I just went to each dealerships’ website to see what they had for inventory.
We found the perfect car and made an appointment to look at it. The following day we arrived after school and were notified the car had already been sold. While we disappointed, we were optimistic we could find a good car with this dealer. My daughter and I were invited to walk the lot to see if there was another vehicle that would be a good fit for her. We found it and took it for a test drive!
Now here’s where it gets interesting. The sticker price for the car was $8,500. The dealership fee (which is a fee the dealership must pay to our state is $250) so now the price is $8,750. I have purchased three cars within the past two years and every dealership, no matter the size, must comply with this fee, which means it’s passed on to you, the consumer. If you buy from a private seller, you shouldn’t have this additional cost.
Before we left the lot, we added insurance on the car. I made a quick call to my insurance company, which is national insurance provider, and added the car to my policy. There was an immediate payment due of $224, which is part of the prorated premium for the current insurance period.
The next step is to register your car. This is a trip to the DMV, which I would pay $1000 for someone to do for me; actually, that’s an exaggeration, I would pay someone at least $100. In any case, you don’t have to pay anyone to go to your local DMV, but you do need to register your car. The cost of registration varies and is based upon the age and weight of your vehicle. I’m not aware of the actual formula, but for my daughters 2016 Nissan Versa sedan the registration cost for state and city was $180. For newer, heavier vehicles, like a 2022 pickup, the registration costs will be much higher.
You will also need to have your car inspected, which is about $50 depending on where you live and where you have your inspections done. If you’re buying a car from a dealer, the dealership will do the inspection, so the vehicle has an updated inspection sticker.
OK, so let’s add up our numbers: price of car ($8,500), plus dealership fee ($250), plus insurance ($224), plus registration ($180), plus inspection ($50) is $9,204. Since my daughter’s car had the inspection sticker, the true cost of purchasing her car was $9,154 -- $654 above the sticker price. This may or may not be important, depending upon your income or budget, but these costs are something to remember and consider before you purchase that first car.
That’s today’s Money Tip. If you have any other tips that could be helpful to other listeners, let us know at tcupodcast@trianglecu.org. Be sure to check out our other tips and episodes on the Making Money Personal podcast and follow us on Facebook and Instagram.
Thank you to our sponsor, Triangle Credit Union, and thanks for listening.
Have a great day everyone!
Paying for college is expensive, from tuition to housing to room and board. On top of all that, there are other things you are going to need to buy plus you will want to have some money to have fun. Here are some tips to save money while in college.
Links:
- Check out the education discount for Apple products
- Learn more about Spotify student discount offers
- Follow our podcast Facebook, Instagram and Twitter
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Food is one thing that you should be thinking about when it comes to saving money. While at college, you’re definitely going to want to skip the cafeteria and either go out to eat or make your own food at some point. If you plan on making your own food, you’re going to have to go grocery shopping. Before going grocery shopping, make a list of everything you need, and stick with the list. If you go into the grocery store without a plan, you’ll probably leave with more food than you really need. Try to stick to your list and don’t overspend.
When buying food, look to see if the grocery store has any deals going on. There’s usually tons of options for the same item, so find the best price for what you want. Usually store brand foods are cheaper than name brand.
Always check the expiration date. If you don’t think you can finish it before then, find one with a later date. Throwing out expired food is like throwing out money.
Another way to save money at college is to go thrift shopping. Thrifting is a great way to find name brand clothing for a cheap price. You can also find movies, games, dishes, furniture, and even textbooks at a thrift store, all for a lower price than if you bought them new.
You can also save money on gas by carpooling with friends. This will definitely save you a lot of money if you don’t have a car, because now you don’t have to buy one and its cheaper than hiring an Uber every time you need to go out. Instead plan a day with your friends when you can all go shopping together. It’s gas efficient and fun!
Utilize your student discount. A lot of places offer a student discount, and it can save you a lot of money in the long run. Big name brands like Apple will offer a discounted price on computers. Spotify premium offers a student discount that includes Hulu and Showtime. Anything from seeing a movie to buying clothing, you may be able to get a discount on if you ask and show your student ID.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Moving through stages of life can be confusing and stressful and it can be especially stressful if you don't have a plan in place for when transitions occur.
In this episode, we talk with Eric Cooper financial planner and certified Exit Planning advisor about why it's important to have a financial exit strategy when you make any move in life or business.
Links:
- Learn more about Triangle Financial Group
- Contact Eric about Business Exit Planning
- Check out the books Start with Why and Find Your Why by Simon Sinek
- Learn more about Triangle Business Solutions
- Follow our podcast Facebook, Instagram and Twitter
How would you like to be debt free sooner, or at least lower your existing debt to ease up on some financial stress? It’s time to take some simple steps that will help you pay down your debt faster and reach financial freedom sooner.
Links:
- Learn more about using a personal loan for debt consolidation
- Check out the current rates for various loans and contact Triangle if you have questions about refinancing
- Learn more about Triangle's Money Management tool for getting out of debt
- Total Money Makeover by Dave Ramsey
- Get the Hell out of Debt by Erin Skye Kelley
- Money Rules by Jean Chatzsky
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
If you’re tired of feeling buried in debt and want to start making moves to get out of it there are steps to take that will get you debt free sooner than you think.
First, you can make extra payments towards your debt. Next time you pay your bill, try adding a little more to that payment. Round it up to the nearest $50 or maybe $100 or whatever you can afford. If you do this consistently over time, you’ll be able to shave months, and maybe years, off your loan. You could also try to pay more frequently, like twice a month. Keep in mind though, that before doing this, check with the lender to verify there are no penalties for making extra payments.
Second, if you can, consolidate multiple debts into one using a debt consolidation personal loan. This will help you stay organized by combining your debt into a single, easy payment. Plus, a debt consolidation personal loan will most likely offer you a lower interest rate than what you’re already paying.
Third, you can refinance your loan. Refinancing will allow you to do one of two things. You can refinance the loan for a shorter term, which means you’ll pay it off earlier, or you can refinance at the same term, but for a lower rate. If you choose to go with a lower rate, you can then throw the extra money you have towards the new bill as an extra payment towards principle.
Fourth, you can adjust your spending habits to better manage cash flow. By keeping your expenses lower you’ll be able to free up cash to put towards extra loan payments. You can try freezing your credit card spending, rebalance your budget to cut out unnecessary expenses and renegotiate certain bills like insurance and others to see if you can lower any of those costs.
Fifth, get inspired and organized by using an app or other tool. Do an internet search for debt management apps that keep all your information organized and offer strategies and plans to stay on track. Triangle also has a useful Money Manager tool within your online and mobile banking account that you can start using to set goals on getting out of debt. If you’re a reader, check out some top-rated books for more tips and inspiration on getting out of debt like Total Money Makeover by Dave Ramsey, Get the Hell out of Debt by Erin Skye Kelley, and Money Rules by Jean Chatzsky. Explore other resources like videos and podcasts if you’re looking for more inspiration.
Getting out of debt is a journey. It requires focus, discipline and effort. But if you’re motivated to be debt free, or at least reduce the burden that you’re carrying, making these efforts can fast track you towards that goal.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Cyber-attacks are becoming more and more frequent in today’s digital age. However, according to a survey by CNBC and SurveyMonkey, most small businesses aren’t ready. Here are some tips to up the cybersecurity for your small business.
Links:
- For other small business resources visit trianglecu.org
- Learn more about KnowBe4 and their fraud prevention services
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
Why does cybersecurity matter? According to the U.S. Small Business Administration, “Cyberattacks cost the U.S. economy billions of dollars a year and pose a threat for individuals and organizations.” Small businesses can be easy targets for cybercriminals, as they don’t have the security infrastructure that larger businesses do. Small businesses are actually three times more likely to be attacked than larger businesses. Another reason that cybersecurity matters to your business is that according to the CNBC and SurveyMonkey poll, 55% of people in the U.S. say they would be less likely to continue doing business with a brand after a cyber-attack. So not only will the cybercriminals steal your data, they will also steal your business away.
Less than half of small businesses have strengthened their passwords, have multi-factor authentication, backed up their data on an external hard drive and have an anti-virus or malware software installed. This leaves their business open for attack, and with no protection, cybercriminals have easy access to their data. Strengthening your passwords and enabling multi-factor authentication is a quick and free step to start protecting your business. Remember, strong passwords shouldn’t be easy to guess. The more complex the password is, the better. Having multi-factor authentication in place also makes it more difficult for cybercriminals to gain access as it adds an extra layer of protection to your password.
Backing up your data on an external hard drive is important – if the cybercriminals get into your data and decide to erase all of it you still have an extra copy. Having an anti-virus program installed will help protect against malware and viruses and can also help remove them from your computer if it does become infected. Always make sure that your anti-virus program is up to date. It would probably be a good idea to turn automatic updates on.
If you have employees, you should train them on internet usage best practices. Employees and their communication is one of the leading causes of data breaches for small businesses. Show them how to spot phishing emails, safe internet browsing practices, avoid downloading anything suspicious, and to protect sensitive information. Some cybersecurity companies like Knowbe4 offers security awareness training and simulated phishing attacks.
It is important to keep your internet connection safe as well. Always encrypt information and use a firewall on your network. If you are using Wi-Fi, add a password to it. You can also set up your router, so it doesn’t broadcast the network name.
If your small business has been compromised, it’s important to contain the damage. Figure out what has been compromised. If there’s any malware, run your anti-virus program to remove it. If any passwords have been compromised, change them immediately. You then need to inform your employees, customers, and vendors about the breach. Being transparent is important, if you try and hide it, their data may be at risk as well. If necessary, get legal advice from a lawyer that specializes in Internet law.
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
How often do you think about the companies you do business with, particularly your financial institution? You’ve probably known there is a difference between a bank and a credit union, but do you really know the benefits a credit union can offer you?
Links:
- Learn more about Triangle Credit Union
- Visit the Credit Union National Association website
- Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to banking, most people want a place where they feel their money is secure, and they’ll have access to it whenever they need it. Today, credit unions are rising in popularity due to their unique ability to provide great products coupled with personalized services.
Your financial institution is more than where you have your checking account. It’s a pivotal part of your financial plan.
Why wouldn’t you want your financial institution to be your ally? To be a place you can trust with not only your money, but your financial future?
If you’re listening to this, you’re likely already a credit union member. If you’re not yet, you should seriously consider banking with one.
Here are some of the top benefits of banking with a credit union.
The first benefit is that credit unions offer lower loan rates than big banks. Lower rates mean lower payments and credit unions offer lower rates for auto loans, personal loans, mortgages and more. If you’re looking for a way to lower your monthly payments on your loans, consider refinancing with a credit union to free up some cash flow. The other side of this benefit is that credit unions also offer higher deposit rates, so you can earn more interest on your deposits.
Another benefit is that credit unions don’t charge as many fees. Credit unions are not-for-profit institutions, and they also enjoy certain tax breaks that enable them to put more of the money they make back into their products and services. Because of this, credit unions don’t have to charge hefty fees for accounts and other penalties. Common fees you’d see at a bank like annual account fees, overdraft fees and transaction fees tend to be significantly lower at a credit union if they’re even there at all.
Perhaps the most unique benefit of banking at a credit union is that you’re a part owner of the institution. Unlike banks, who have customers, credit unions have members (shareholders). Every member owns a part share in the institution and the credit union focuses on keeping those members satisfied. Joining a credit union is a great way to become a part of the institution instead of feeling like just a number. You also get certain opportunities to participate in institutional changes and vote to elect Board members. Try doing that at a big bank!
Another benefit is that credit unions provide local servicing. If you’re intentional about keeping your money local, you can’t get more local than a credit union. One of the best features of credit unions is that your funds actually help other members in the community. When you deposit money into an account, that money is combined with other members’ funds which are then used to lend to other members who need them. It’s a great way to be a contributing part of your community and to help others who need it. Local service is better service because you’ll build relationships with people who care about you and that relationship gives you the ability to work with the institution if you need help or assistance with any of your accounts or loan payments.
Credit unions are known for their community involvement. They are highly focused on giving back to their communities. It’s a cornerstone of their philosophy regarding service. They work to improve their communities, make regular donations to nonprofits, and support local events. The Credit Union National Association also known as CUNA shares on their website that, “From the biggest cities to the smallest towns, credit unions put our members ahead of the bottom line to promote financial well-being and advance the communities we serve.” Next time you visit a community or non-profit event, odds are you’ll see a local credit union there as a proud sponsor.
So, if you’re a credit union member, we’re happy to have you join us in our mission to provide quality, local service to others. If you’re not, consider joining one. The benefits are worth the effort.
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
College is right around the corner for incoming college Freshmen. You might be wondering what you should be buying to bring with you. Here are the top items that should be on your college shopping list.
Links:
- Learn more about Apple.com student discounts
- Follow our podcast page on Facebook, Instagram and Twitter
- Learn more about Triangle Credit Union at trianglecu.org
- Contact us with questions or ideas at tcupodcast@trianglecu.org
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
First on your list are basic toiletries. Things like toothpaste, toothbrush, deodorant, soap, shampoo, and in some cases, toilet paper! While I didn’t experience this at college, I have heard that some college bathrooms run out of toilet paper so it’s important to have your own supply—particularly if you sharing a suite, which means a shared bathroom. If you’re living in a college dorm and are sharing a bathroom, you will also want to buy a shower caddy to hold all of your toiletries. This way you can easily bring them in and out of the bathroom and not have to worry about others using your stuff. You will also want to bring a pair of shower shoes (aka, flip-flops) because you shouldn’t walk barefoot in a shared bathroom. And don’t forget your towels!
Next, prepare yourself for those days when you just don’t feel like yourself. Make sure you have cold or allergy medicine, cough drops, ibuprofen, antacids, tissues, and any prescription medications. If you’re a college student who isn’t living close to home, ask your doctor for a 3-month prescription so you can pick up your meds in advance.
Third, your bedding is your nest, and you want to be comfortable. Before you move in, figure out how big your bed is—most dorm beds are extra-long twins so make sure you buy extra-long twin sheets. Don't forget blankets, a mattress cover, a mattress pad, your favorite pillow and maybe a bed wedge pillow so you can do your study on your bed.
Fourth, your college clothes. Make sure you consider the climate and changes in climate for the area you’ll be in. If your college is in a warm climate, you probably don’t need to bring your winter jacket and snow boots. In addition to your clothes, you will need laundry detergent or pods to keep them clean.
Fifth, don’t forget your laptop and other electronics. You will need a laptop to write your papers, take notes, send emails, do your projects, submit your assignments, take your exams, and even go to class if its hybrid. If you don’t have a laptop, check out Apple for a student discount. If money is tight, Facebook Marketplace, Craigslist and eBay are good places to pick up used laptops—just make sure you have enough storage space for all your college needs. You will also want to get a nice set of headphones or earbuds to cancel out any noise so you can focus on your work.
Other academic supplies you will want include a few notebooks and writing utensils. If you prefer taking notes on paper, you may want to get a notebook for each class that you are taking. Highlighters and sticky notes can be useful as well.
Next, you will want to buy a refrigerator. You probably won’t want to eat cafeteria food every day, so you can store any perishable food items in a fridge in your room. Some schools also allow small microwaves so you can warm up your food. Speaking of food, you should bring some of your favorites—especially for those days when you’re feeling a little homesick. Nothing like mac-n-cheese to make you feel better!
Other items you will want to bring are storage containers, a fan, chargers, surge protector power strips, water bottle, water filter, and a desk lamp.
This seems like a big list, but you will probably add more to your own list like decorations to make the dorm room your own.
This concludes our must haves at college and good luck!
If there are any other tips or topics you would like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
Are you ready to pursue an entrepreneurial venture, but you’re worried you won’t be successful? If you’re preparing to start and run a business, there are effective skills you can develop to give yourself the best possible chance of success.
- Check out the SBA or SCORE for resources on writing a business plan
- Learn more about Triangle's business banking tools
- Think and Grow Rich, by Napoleon Hill
- Learn more about business cash flow: https://www.nerdwallet.com/article/small-business/business-cash-flow
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Are you ready to start a business but need a push or some direction for your first steps? Then this is the show for you. In this episode we talk to Triangle's commercial banking legend and serial entrepreneur, Sunil Khadka about the steps he has taken for his own success and how Triangle can help you do the same.
- Check out free business resources with SCORE and the SBA
- Learn more about Triangle's commercial services and how they can help you with your business planning
- Check out our other podcast episodes featuring representatives from SCORE and the SBA
- Connect with Sunil on LinkedIn: https://www.linkedin.com/in/knirus
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
You probably know about your credit score, but do you know why it matters? In this tip we talk about your credit score, why it's important, and some tips on how to raise your credit.
- Learn more about your credit score: https://www.nerdwallet.com/article/finance/great-credit-powerful-tool
- With a Triangle Better Checking account you can get a free credit report every 30 days when you register at idprotectme247.com. If you don't have your registration code contact Triangle Credit Union.
- Check out Nerdwallet or annualcreditreport.com to get a copy of your credit report.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
According to WMUR, New Hampshire officials are warning residents to prepare for higher utility bills, with a general increase of fifty percent expected. This tip provides some simple ways you can lower your energy costs for this summer.
- Read the WMUR article: https://www.wmur.com/article/new-hampshire-increases-electricity-bills-61622/40314355#
- Check our your electricity rates: https://www.energybot.com/electricity-rates/new-hampshire/
- Check out this article with additional tips to save money on your electric bill: https://www.nerdwallet.com/article/finance/how-to-save-money-on-your-electric-bill
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Online security is important, especially when it comes to banking. Here’s what you need to know about banking trojan viruses and how to avoid them.
- Learn more about Norton device protection
- Learn more about BitDefender protection
- Listen to our Setting up Secure Passwords Money Tip Tuesday for more security information
- Learn more about Triangle's Better Checking account with Identity Theft Protection
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
You've probably heard the phrase, "What you think you become." If you want to achieve certain goals in life, you must work now on becoming the person that can achieve those goals in the future.
In this episode, we chat with Barbara Hatfield, Life Coach, about how strong visualization techniques positive thinking and good habit development can help you transform it to the person who can take on anything.
- Follow Barbara on LinkedIn
- Barb Hatfield Life Coaching on Facebook
- Think and Grow Rich - Napoleon Hill
- The Secret - Rhonda Byrne
- Law of Attraction - Michael J. Losier
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With prices continuing to rise across the country, saving money on purchases is bound to become top of mind for many people. If you’re someone who likes to buy online, there are plenty of websites you can use to get the right price every time.
- slickdeals.net
- bensbargains.com
- dealnews.com
- bargainjunkie.com
- camelcamelcamel.com
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With gas prices on the rise, it’s more important now than ever to find ways to save some money not only at the pump but even while you drive. This tip shares some practical things you can do to save on fuel costs.
- Calculate your vehicle's mileage per gallon: https://fueleconomy.gov/feg/savemoney.jsp
- Gasbuddy's article on the best day to buy gas: https://www.gasbuddy.com/newsroom/pressrelease/2022/02/01/1091
- AAA's TripTik homepage: https://triptik.aaa.com/home/
- AAA's gas cost calculator: https://gasprices.aaa.com/aaa-gas-cost-calculator/
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Password protection is important, especially when it comes to online banking. Here are some tips to keep your password (and your money) safe from cyber criminals.
- Learn more about password protections from Google: https://passwords.google.com/intro
- Learn about Firefox password protections: https://monitor.firefox.com/
- Check out haveibeenpwned.com to check if your passwords have been compromised
- Learn more about secure password management platforms LastPass and Dashlane
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
With the weather getting warmer and summer right around the corner, your mind may begin to wander toward a nice relaxing vacation. However, as you probably know, it is very easy to overspend on vacation, so you may want to consider planning your budget ahead of time. This tip shares some things to keep in mind while planning your dream vacation.
- Learn more about making a vacation budget
- Airbnb information: https://www.airbnb.com/
- Value Penguin personal finance website: https://www.valuepenguin.com/average-cost-vacation
- Information on hotel fees: https://www.neamb.com/travel-and-vacations/10-annoying-hotel-fees-and-how-to-avoid-them
- Travel Zoo website: https://www.travelzoo.com/
- Visit Groupon's website for discounts on tickets: https://www.groupon.com/
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal Podcast.
First, come up with a list of places you’d like to go. Travel can be really expensive, so figure out how you are going to get there. If you plan on going overseas, the only real option you have is to take a plane. Even if you aren’t going overseas, but it’s still far away, it might be more cost effective and time efficient to take a plane. If you’re not going too far and have access to a car, driving might be the way to go. If you go this route, figure out how far you will have to drive and how much gas you will need. Other alternative transportation such as buses and trains are also available and may be cheaper than driving yourself.
When traveling, it can be easy to go over budget. According to ValuePenguin, a personal finance website, the average American family spends 44% of their vacation budget on traveling to and from the destination. When flying, it doesn’t help that airlines are constantly pushing more and more expenses to your bill. Things like flight insurance, in-flight meals and beverages, and in-flight entertainment, while nice to have, increase the cost of your travel and aren’t necessary. However, some credit cards offer travel rewards, so you may get some money back by using them. Some airlines also have reward programs for flying with them.
Next, decide where you are going to stay. According to ValuePenguin, lodging on average takes up 26% of travel costs domestically and 21% internationally. Hotels and motels are usually the go-to choice, with motels typically being cheaper. Hotels are typically nicer than motels but can have a lot of fees that you may not know about. Hotels often charge for mini-bar and snacks, parking, early check in or late check out, and more. Air BnBs are a newer option, where you can rent someone’s house or room. This will give you a homier location, and you can choose which Air BnB is best for your price range. You can choose the location of where you want to stay, what type of housing you’d like, and what amenities you want, which may include a kitchen, and this brings us to our next topic of food.
What and where you are going to eat is important to budget out, too. Do you plan on eating all your meals out at restaurants? This will fill up your budget very quickly. Some hotels and Air BnBs have kitchens included, so you can bring your own ingredients and food to make your own meals. This is a cheaper option and will allow you to budget some money for more fun and exciting activities.
Finally, it's time to plan out what you want to do on this vacation. Are there any national parks to explore? Or maybe a theme park is more your style. Like all the other things, create a budget where you don’t overspend, but are still able to do what you want and relax. You may want to check Groupon or Travelzoo to see if they have any deals for your activities. Your local library may also have coupons that you can use on your vacation.
Planning your next vacation can be stressful, but it’s better to do it now so you aren’t stressed while on your vacation and can be completely relaxed.
If you found this episode helpful, we’d like to hear from you about thoughts on this show or maybe you have some ideas on other topics we should cover, email us at tcupodcast@trianglecu.org. Be sure to subscribe to the Making Money Personal podcast for our full episodes and weekly Money Tips wherever you listen to podcasts and follow us on Facebook for more great content.
On behalf of the podcast team, thank you to our sponsor, Triangle Credit Union, and thank you, as always, for listening.
Have a great day everyone!
In this current housing market houses are selling fast. It’s a crazy market for buyers, but it’s also a great market for sellers. If you’re considering selling your home, there are some things you can do to get as high a price as possible.
- Check out this checklist from realtor.com: https://www.realtor.com/advice/sell/home-selling-checklist-things-to-do-before-selling/
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Life is busy. This could be the understatement for so many of us. How do we juggle family career civic responsibility and social media? In this episode, we'll hear from realtor and social media coach Kristen Reyes as she provides tips on how to handle the busyness of life, and how to use social media to grow your business.
- Kristin and Kendall's website: https://www.reyeshometeam.net/
- Call Kristin at (603) 489-7172
- Email Kristin at kristinreyes2@gmail.com
- Follow Kristin and Kendall on Instagram and Facebook
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
You’ve just graduated from college, so now what are you going to do? Here are some tips on how to land a job after college.
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Rent increase is on the rise and has increased almost 50% since 2008. Now more than ever it's important to know how to handle it.
- Additional resources:
- https://www.cnbc.com/2021/11/28/how-to-prepare-for-a-big-rent-increase-.html
- https://nhlegalaid.org/self-help-guides/housing/leases-security-deposits/rent-increases
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You’ve found your dream home and you’re ready to buy! How exciting and frightening! Purchasing your home is one of the biggest financial decisions a new homeowner can make. In this tip, we share some reasons why it’s important to use a local financial institution for your big step.
- Learn more about Triangle's local mortgage lending: https://trianglecu.mymortgage-online.com/
- Check out the other podcast episodes in our home buying series:
- How Do I Get Pre-Approved For My New Home?
- Finance Options for My New Home Purchase
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Online shopping is a quick and easy way to buy what you want from the comfort of your own home. However, you need to be careful to make sure you don’t get scammed. In this tip, we share some tips on how to safely buy from online marketplaces.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
If you've ever considered the opportunity of buying and owning rental properties, today's guest will inspire you. In this episode, we're joined by Angelica Resto, manager of our South Nashua branch and longtime employee of Triangle Credit Union.
Angelica joins us to discuss her experience as a real estate owner and how she manages the responsibilities of running a successful rental property business.
- Learn more about Triangle's Commercial Services for business planning and funding
- Learn more about Triangle's Mortgage program or chat with a Mortgage Originator to discuss property funding options
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Healthy eating habits are good for you physically, as well as good for you financially. In this tip, we share how simple eating habits will save you money over time.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
You’re pre-approved for your new home purchase and just found your dream home, now what do you do? In this tip, we talk about your next step on how to find the best mortgage for your new home purchase.
- Learn more about the different mortgage options at https://trianglecu.mymortgage-online.com/
- Contact one of our Triangle Mortgage Originators: https://trianglecu.mymortgage-online.com/OurOriginators.html
- View current mortgage rates: https://trianglecu.mymortgage-online.com/MortageRates.html
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NMLS# 528721 - Equal Housing Opportunity - Federally insured by NCUA - Certain restrictions may apply. See website for details.
Are you thinking about going to college and not exactly sure how you are going to pay? In this tip we talk about student loans and the many options you have available to finance your college costs.
- Check out this Nerdwallet Article for more information about student loans
- Check out studentaid.gov for more information about college funding options
- Listen to our other Money Tip Tuesday about Using a Home Equity Line of Credit to Cover College Costs
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
The thought of buying your first home is exciting and overwhelming. Where do you start? In this tip we start at the beginning of the home buying process and walk you through how to get pre-approved for your new home purchase.
- View current mortgage rates
- Start your pre-approval with Triangle
- Contact a Mortgage Originator
- Watch our First Time Homebuyer Webinar on YouTube
- Documents for your pre-approval:
- Current paystub reflecting year-to-date earnings
- Two month’s bank statements (all pages) from other banks you bank with
- W-2 Form from the most recent year & prior year
- Verification of other income sources (mutual funds, Social Security, pension, alimony, child support)
- Most recent statement of Retirement, 401K, IRA’s accounts
- (If you're self employed) - 2 years tax returns and a year to date Profit and Loss statement
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
What does it mean when the Fed raises rates? Well, if you have a savings account, loans or a mortgage, a rate hike will impact you. This tip covers a few of the things you can do if the talk of raising rates seems a bit scary.
- Learn more about the Federal Funds Rate
- Learn more about the Prime Rate
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
We talk a lot about cybersecurity and identity theft on our podcast. In this episode we chat with Jamie Ramirez, founder and CEO of Preventor, about the rising trends in financial crime and what you can do to stand against it.
- Learn more about Preventor
- Check out other Preventor resources
- Learn more about Triangle's Better Checking account with IDProtect
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
*Triangle Credit Union does not use Preventor services and cannot endorse the use of its products. This podcast episode is for informational purposes only.
It may be a little early to talk about Christmas but this tip will show you how a sinking fund can help you pay for gifts without panicking in December and without going into debt.
- Open a new savings or checking account to get your sinking fund started.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Are you familiar with NFTs? If not, this tip explains a little bit about what they are, why they seem so appealing and some things you should consider before purchasing any.
- Helpful resources about NFTs:
- https://ethereum.org/en/nft/
- https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
- https://www.forbes.com/advisor/investing/nft-non-fungible-token/
- https://www.investopedia.com/non-fungible-tokens-nft-5115211
- https://www.wsj.com/articles/bored-ape-nfts-so-expensive-11645709606
- Popular NFT marketplaces:
- https://opensea.io/
- https://rarible.com/
- https://foundation.app/
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
When global conflicts arise, it’s especially important to be vigilant and watchful over your data and personal information. Conflicts bring about new security threats and dangers, but fortunately you can take steps to stay safe even during unpredictable times.
- https://www.rapid7.com/blog/post/2022/02/25/russia-ukraine-staying-secure-in-a-global-cyber-conflict/
- https://blog.knowbe4.com/wartime-suffering-as-phishbait
- Report scams to the US government at this page: https://www.usa.gov/stop-scams-frauds
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Does the winter blues have you down? March is the perfect time to do something fun, and today we’ll talk about why it’s okay to spend some mad money in March!
- Check out Groupon for some travel and activity inspiration
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If you haven’t thought about setting up an identity protection service, it’s always a good time to do so. Identity threats can be found almost anywhere, so taking the time to safeguard your identity now will save you a lot of time and money if it ever gets compromised in the future.
- Learn more about Triangle's Better Checking account with identity protection
- Log into idprotectme247.com to register and review your credit information
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
It's the season of love and what better time to discuss couples and money then this month! In this episode, Terri, Liz and Wil go through how they and their spouses handle finances at home and offer some personal tips and tricks that you can use to enhance the financial condition in your own relationship!
The contest mentioned in the episode has expired. Be sure to subscribe and listen to new episodes for more opportunities to win prizes.
- Learn more about budgeting with our Budgeting 101 webinar
- Gain tips on how to get out of debt with our Financial Freedom: Your Path to Debt Free Living webinar.
- Learn more about the Every Dollar app
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Single factor authentication is no longer enough to keep your accounts secure… today we should always take advantage of Multi-factor Authentication. Multi-factor authentication or MFA for short is the process of verifying that you are who you claim to be when logging in to an account.
This tip comes from an article provided by KnowBe4 Security Awareness and Training Solutions.
- Learn more about KnowBe4 Security Awareness Training
- Get identity protection for your and eligible family members with a Better Checking account
- For more MFA resources check out Google Authenticator and Authy.
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Once you complete the FASFA for your soon-to-be college Freshman, your next move is to find the best scholarships to help supplement the cost of the undergrad degree. This money tip walks you through top rated online resources you can use to navigate the scholarship world.
- View the article at greatvaluecolleges.net
- Learn more about Scholarship Owl
- Learn more about the Raise Me app
- Learn more about Plexuss
- Learn more about the Going Merry platform
- Search more scholarships at Scholarsnapp and College Board
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Are you having trouble with the financial challenges in your life? If you’ve been struggling, this tip has a few suggestions on how to avoid some of the common money management challenges you may be facing right now.
- Watch Triangle's Financial Freedom: Your Path to Debt Free Living webinar
- Watch our Budgeting 101 Workshop to learn more about setting up a budget
View these additional resources on improving your financial life:
https://www.forbes.com/sites/financialfinesse/2013/08/29/three-common-financial-challenges-and-how-to-overcome-them/?sh=7eaef2735b12
https://www.investopedia.com/personal-finance/most-common-financial-mistakes/
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Have you been asking yourself if you should pick up an extra job to get ahead with your finances?
This Money Tip Tuesday presents the pros and cons of picking up a side gig to supplement your income and why there really hasn’t been a better time to consider getting an extra job if you could use the extra money!
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
In this episode we talk about the importance of keeping a positive mindset with Lifestyle Coach, Barbara Hatfield.
Barbara talks about why we need to make sure we practice positive thinking, how it can affect others in our lives and offers strategies on how to keep a positive mindset through life's struggles and challenges.
- Follow Barbara on LinkedIn
- Barb Hatfield Life Coaching on Facebook
- Breaking the Habit of Being Yourself - Joe Dispenza
- You Can Heal Your Life - Louise Hay
- Think and Grow Rich - Napoleon Hill
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
If you’ve been interested in trying your hand at stock trading this year, here’s a way you can try it out and see how you do without risking a dime. Paper trading can be a great way to practice stock trades and gain familiarity with market terms and strategy.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
The beginning of a new year is a great time to assess your financial situation, particularly if it’s following a holiday spending spree—unfortunately, there have been some years when that assessment sheds light on a harsh reality.
If you're ready to tackle your seasonal shopping debt, and some of the other debt that’s been hanging around too long, this tip shares how a consolidation loan is the right financial tool to help pay down debt in the new year.
- View our current Debt Consolidation Personal loan rates and terms.
- Watch our Financial Freedom: Your Path to Being Debt Free webinar to start your own debt payoff strategy
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Are you wondering what kind of impact inflation may have on your money? If you’re hearing all the chatter in the news about inflation and how it can affect your finances, we have some ideas on ways you can manage your money when inflation is on the rise.
- Get your budget in gear! Watch our Budgeting 101 webinar to learn about putting together a budget.
- Learn more about Honey and how to use it to save money
- Learn how Triangle Financial Group advisors can help you evaluate your retirement portfolio
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
The New Year is almost here! We are approaching the end of 2021 and with that comes… you guessed it.. New Years Resolutions! In this Money Tip Tuesday episode we present the top 5 things you absolutely need to do to have a financially successful new year.
- Check out Triangle's Budgeting 101 workshop on YouTube for budgeting strategies
- Find the Every Dollar app at the App Store or at Google Play
- Watch Sam the Cooking Guy on YouTube
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Have you used your phone’s mobile wallet yet? If you haven’t, we have some reasons to consider using it for a secure, efficient and safe checkout experience - especially during the holidays.
- Learn more about adding your Triangle cards to your phone's mobile wallet
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Are you interested in building a career that you'll love? In this episode we chat with Becky MacLennan, Manager of Accounting & Financial Reporting at the University System of New Hampshire (USNH) about how a hot job market and low unemployment rate can be a perfect time to find a career that you can be proud of.
- Connect with Becky on LinkedIn
- University System of NH information
- Patrick Lencioni info and resources
- Brené Brown info and resources
- Find financial resources and information at thebalance.com
- Learn more about the Calm app
- View episode transcript.
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The world of finance is ever changing; the product that has probably changed the most is the checking account. Today, we’re going to explore the world of checking accounts: what they are, how they are used, and why they are important.
- Learn more about Triangle Checking Accounts
- Learn more about online banking and mobile banking
- Try out Triangle's POP Money program to pay other people
- View episode transcript.
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Borrowing money for the holidays is easy and convenient, but it can also bring a shock when we are forced to face the challenge of paying those bills back. Fortunately, there are ways to minimize your financial fallout this holiday season, and it only takes a little planning.
- Learn more about Triangle's Low Rate Credit Card
- Learn more about Triangle's competitive Personal Loan options
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
In this giving season, there is no greater gift than giving to those in our community who need it the most. In this tip, we talk about steps you can take to help those in need and the benefits of giving back.
View episode transcript.
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Medical costs continue to rise, as do insurance premiums. In this tip, we cover Health Savings Accounts (HSAs) and how they help deter some of these medical expenses and save you money.
- Learn more Triangle's HSA options
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
When you think of banking, you think of your traditional big banks, but most people rarely think about credit unions. In this episode we chat with Cortney Angeley, Community Development Director at the Cooperative Trust, and the Filene Research Institute, about the credit union movement, its mission and its impact.
- Learn more about the Cooperative Trust and Filene research Institute
- Get in touch with Cortney: cortneya@filene.org
- Learn more about Cortney and her role at the Filene Institute: https://filene.org/about/our-people/impact-director1
- Visit the Cooperative Trust YouTube channel for live chats and videos
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Planning to travel for the holidays? If so, it’s critical you keep your credit cards secure, and luckily, it’s easier now than ever to protect your cards from fraudulent activity.
This money tip shares how to can use the card controls within the TCU Cards app to protect your cards from fraudulent activity.
- Learn more about the TCU Cards app, its features and benefits
- Learn more about Triangle Credit Cards - Low rate and Rewards card options
- Download for iOS
- Download for Android
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Americans use their credit cards for virtually all their purchases. But, what happens when we rack up debt and are having a hard time paying it off each month and worse, we have multiple credit cards that this is happening with? We turn to a balance transfer.
- Learn more about Triangle's low rate credit card with NO balance transfer fee
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
CEO/President of Triangle Credit Union, A. Scott MacKnight, joins Terri to share his own personal money tip. Scott shares which Triangle product he uses to manage his money and stay on top of his personal finances.
- TCU Money Manager Tool
- Learn more about Triangle's mobile banking - mobile transfers, remote check deposits, bill pay and more
- Learn more about TCU Cards App - card controls, travel notifications, alerts and more
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
If you've heard of annuities and want to learn more about why you would use one, you've come to the right place.
In this episode we chat with Eric Cooper and Brian Luce, Financial Planners from Triangle Financial Group, to learn all about annuities-- what they are, how the work and why you may want to consider one for your long term financial strategy.
- Learn more about Triangle Financial Group
- Contact Eric Cooper or Brian Luce to set up a meeting
- Watch the panel discussion How do Changes in the Economy Affect Your Wallet featuring Eric and Brian
- Watch our video What is Triangle Financial Group? to learn more about TFG
- Visit our events page for upcoming TFG seminars and workshops
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Eric Cooper and Brian Luce are registered representatives of and offer securities and investment advisory services through MML Investors Services, LLC, Member SIPC. Supervisory address: 101 Federal Street, Suite 800, Boston, MA 02110 • 617.439.4389. CRN202410-1003734
NOT A DEPOSIT - NOT NCUA INSURED - NOT GUARANTEED BY ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY THE CREDIT UNION - MAY GO DOWN IN VALUE.
Refinancing your mortgage can save you a lot of money off your monthly payment. But how do you know when it’s the right time to refinance? Listen to our latest episode with Ryan Campbell, Mortgage Originator at Triangle Credit Union, to find out.
- Check out our current mortgage refinance rates
- Try out our Mortgage Refinance Calculator to see how much refinancing could save you
- Contact Ryan for mortgage or refinance assistance
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Looking for some good books on personal finance? Listen for 5 popular personal finance books you should consider reading this season.
- The Millionaire Next Door - Thomas J. Stanley
- Think and Grow Rich - Napoleon Hill
- The Total Money Makeover - Dave Ramsey
- I will Teach You to Be Rich - Ramit Sethi
- Retire Inspired - Chris Hogan
View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Can you believe that Christmas is right around the corner!? It's time to begin making your plans for the shopping season and also why I believe that you should get your shopping done even EARLIER this year.
View episode transcript.
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Are your finances stressing you out? Financial stress is simply awful—it's an emotional weight that impacts your physical and mental well-being. In this tip, we talk about some strategies that will decrease financial stress in your life.
- Watch Triangle's Budgeting 101 Webinar on YouTube
- Watch Triangle's Financial Freedom: Your Path to Debt Free Living on YouTube
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Money is one of the topics couples tend to argue about frequently. The good news is, there are ways couples can approach working out their finances together without fighting about it.
- Watch Triangle's Budgeting 101 webinar: https://youtu.be/B_4i4LFnR4E
- Watch the Financial Freedom: Your Path to Debt Free Living webinar: https://youtu.be/KTbtWMYdnk0
- Get started with a joint account:https://www.trianglecu.org/home/personal
- Financial Planning Services can help! Learn how Triangle Financial Group can help you and your partner get on track: https://www.trianglefinancialgroup.com/
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Keeping your credit score in good standing is a great way to dramatically reduce the amount of interest you pay on a mortgage and other loans. But.. how? How do we get our credit score up to a number we can be proud of? Listen to today's tip to find out.
- Get your credit score and report with a Triangle Better Checking account.
- Apply for a Triangle Credit Union credit card to increase lines of credit. It may help you boost your credit score.
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
With the price of automobiles these days, now might be the right time to refinance. Listen to today’s Money Tip Tuesday for some reasons why you should consider refinancing your auto loan.
- Check out Triangle Credit Union's current Auto Refinance rates
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
What do tulip bulbs have to do with finance? Well, if you’re familiar with how financial bubbles are formed and made, history offers an important lesson that you can apply to financial markets today.
View episode transcript.
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Life happens and when it does, it usually means you have to pay out of pocket for unexpected expenses. In this tip, we talk about how to manage your emergency fund so when life hits you hard, you’re prepared—at least financially.
- Start your emergency fund with an online savings or money market account.
- Earn interest on your money with our great rates.
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
The least fun part about doing your finances is all the MATH. For those of us that don’t want to have to do all these math problems, we have calculators for that.
This tip provides a list of calculators you may find helpful during your personal finance journey.
Try out these calculators from our website and bookmark them to save for later:
- Savings Calculators
- Retirement Calculators: Traditional IRA or ROTH IRA
- Mortgage Calculator
- Refinance Calculator
- Debt Payoff Calculators
- Explore more calculators on our resources page
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
In this episode we chat with Kathy Card, HR Manager at Triangle Credit Union, about company culture, interview planning tips, and how working from home has changed the way we seek and apply for jobs.
- View Triangle's open positions: https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment.html?cid=201ad2e7-321d-48c5-a1b2-1c16d59a7d31&j
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Budgeting comes with a slew of words and phrases that someone just getting into the world of budgeting may not exactly know what they mean. In this tip, we cover 8 Budget Terms you should know.
- For more budgeting help check out our Budgeting 101 Workshop on Youtube
- View episode transcript.
Like what you heard? Go ahead and share on your social media! Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Connecting with a doctor over a phone or computer gives us the freedom to get the healthcare we need right from the comforts of home. But like other digital platforms, it’s still important to keep yourself secure whenever you use or share private information, especially medical information. This week, we’ll share tips on how you can stay safe while using telehealth services.
- Learn more about KnowBe4 Security Awareness Training
- Get identity protection for your and eligible family members with a Better Checking account
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
This is the recording of our first time homebuyer webinar featuring guest speakers who present on what to expect during each step of the mortgage process.
Ryan Campbell - Mortgage Originator, Triangle Credit Union Jody Landry - Realtor, Keller Williams Peter Yetman - Account Manager, Genworth Financial Bob Parodi - Attorney, Parodi Law
- You can request a copy of the presentation materials from tconnolly@trianglecu.org
- https://www.trianglecu.org/home/home
- https://trianglecu.mymortgage-online.com/
- Watch this webinar on-demand on YouTube
- Check out more webinars and upcoming events from Triangle and TFG
- Call us at (603) 889-2470
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Home Equity Lines of Credit (HELOCs) are great financial tools for a variety of uses. In this tip, Terri chats with Ryan Campbell, Mortgage Originator at Triangle, about the many ways you can use your Home Equity Line of Credit to cover college expenses.
- Learn more about Home Equity Lines of Credit.
- Contact Ryan to learn more about how a HELOC could help you cover certain expenses.
- Listen to Ryan's previous episode explaining HELOCs on YouTube.
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Does your employer offer you a 401K retirement benefit? Does that 401K include a company match? If you’re employer offers a match and you’re not contributing, you might be missing out on free money.
- Learn more about Triangle Financial Group and how they can help you form your own personalized financial plan
- Set up an appointment with TFG online
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Wasteful spending isn’t something we’re easily conscious of. It kind of creeps up on us over time and becomes a habit we fall into year after year. Choices lead to habits, and if those habits aren’t working for you, then they’re working against you.
This tip covers some of the most common ways people waste money and offers suggestions on how you can avoid falling into those habits.
View episode transcript.
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Are you currently house hunting but worried you may not be able to compete in the current housing market? Listen to our latest episode with Tim Morgan, Licensed Real Estate Broker at Morgan Moves. Tim is an award-winning professional and shares his knowledge on how to stay competitive in this white hot housing market.
- Learn more about Tim's team at morganmoves.com
- Contact Tim by phone at (603) 769-1571
- Learn more about Triangle's 40 year ARM and other rates at https://trianglecu.mymortgage-online.com/MortageRates.html
- Contact one of our Mortgage Originators to discuss your financing options.
- Apply for a mortgage with our easy online application
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Are you half way through the summer and experiencing the mid-summer blues? Time is running out and you just haven’t taken enough days off to enjoy all that NH has to offer? Don’t despair! Today, we’re going to share some top summer vacation ideas that are right here in the Granite State!
View episode transcript.
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Peer to peer payment apps are growing in popularity due to their convenience and ease of use. But like any other kind of technology that deals with your finances, you need to make sure you understand the risks of such apps so you can use safely. This tip covers some of the dangers you should be aware of when you decide to use these platforms.
View episode transcript.
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Don't let debt drag you down. It's time to get proactive about getting out of debt so you can live a financially free life! In this webinar (recorded 4/9/21), Terri walks attendees through the distinct and practical steps needed to develop an effective debt reduction strategy.
- Email tconnolly@trianglecu.org for slides or webinar materials
- Watch this webinar on-demand on YouTube
- Check out more webinars and upcoming events from Triangle and TFG
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
If you use the Internet for work, either for an organization or for your own business, it’s important you know the truth about how cybercriminals can target you.
This tip presents some common cybersecurity myths out there about how criminals target their potential victims.
- Learn more about KnowBe4 Security Awareness Training
- Get identity protection for your and eligible family members with a Better Checking account
- View episode transcript.
Like what you heard? Go ahead and share on your social media!
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Spring is officially the homebuying season! If you recently purchased a new home, what an exciting time in your life. Purchasing a home is an incredible accomplishment, and you should be proud of yourself. To alleviate some of the stress that comes with being a first-time homeowner, we’ve compiled a list of our top tips to keep in mind while going through your first year of homeownership.
- Budgets are important to new homeowners. Watch our Budgeting 101 Workshop on YouTube for tips on establishing a budget
- Ready to do some reno? Check out our Home Equity options and rates
- Triangle Financial Group can help you protect your investment with estate planning and other financial services for homeowners
- View episode transcript.
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There are ways of making money on the side that can pull in enough over time to greatly supplement or potentially replace your need to work a regular job. Listen to learn about some of the specific things you can do to make extra money as passive income.
View episode transcript.
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If you're a parent preparing your child for college or a student yourself looking for guidance when it comes to funding options and career planning, this episode can help you out.
Our guest is Rebecca MacLennan, Director of Finance and Administration at the University of New Hampshire, and a mom who's gained valuable experience helping her two kids navigate the college application and funding process.
You'll learn some tips on timelines, scholarship options, FAFSA applications and more.
- New Hampshire Higher Education and Assistance Foundation: https://www.nhheaf.org/
- Learn about FAFSA and how to file: https://studentaid.gov/h/apply-for-aid/fafsa
- Visit College Board for additional information and planning resources: https://www.collegeboard.org/
- UNH TRIO program: https://www.unh.edu/cfar/unh-trio-scholars-program
- Triangle Credit Union: https://www.trianglecu.org/home/home
- Check out Triangle's events page for webinars and our annual College Night in the fall: https://www.trianglecu.org/home/benefits/events
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Tracking your net worth is an important part of setting up a solid financial plan. This tip offers you a step-by-step process for determining your own net worth so you can review it regularly and track your financial progress over time.
View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Whether you're working from home or back at the office, you still need to take precautions when it comes to your workspace. Fraud threats can come in many different forms so it's up to all of us to keep our organizations safe. Here are some tips you can use to keep your organization safe.
- Learn more about KnowBe4 Security Awareness Training
- Get identity protection for your and eligible family members with a Better Checking account
- View episode transcript.
Like what you heard? Go ahead and share on your social media! There may be someone out there who's interested in this tip.
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Triangle Credit Union presents a panel discussion with Financial Planners, Eric Cooper and Brian Luce from Triangle Financial Group. They discuss how changes in the economy can impact day-to-day expenses and overall finances along with key components of credit, emergency funds and investment strategies.
Specific questions answered during this event were submitted by students in the TRIO Program at the University of New Hampshire and the panel was hosted by Triangle's SVP Marketing, Rebecca Thomas.
- Learn more about Triangle Financial Group: https://www.trianglefinancialgroup.com/
- Books mentioned: Atomic Habits, The Millionaire Next Door, Think and Grow Rich
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Eric Cooper and Brian Luce are registered representatives of and offer securities and investment advisory services through MML Investors Services, LLC, Member SIPC. Supervisory address: 101 Federal Street, Suite 800, Boston, MA 02110 • 617.439.4389. CRN202410-1003734
NOT A DEPOSIT - NOT NCUA INSURED - NOT GUARANTEED BY ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY THE CREDIT UNION - MAY GO DOWN IN VALUE.
Are you looking into finally buying a pet? When it comes to pet ownership, there are costs associated with buying and caring for your furry friend. In this tip, we cover some of the basic costs you should expect to pay when you purchase your first pet.
- Looking to adopt? Check out the Humane Society of the United States, the Humane Society for Greater Nashua, and petfinder.com
- Check out pet care cost breakdown for different pets from the ASPCA
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Do you remember what your behavior with money was like when you were 18? What kinds of money lessons have you learned since then that you wish your 18 year old self had known? In this tip, Wil shares things he wished he knew when he first started managing his own money.
View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Building credit is an important step in establishing a solid credit history. In this episode we chat with Rosie Gagne, an experienced loan officer at Triangle, who shares insight on the specific steps you can take to build a great credit score!
- Credit cards are an effective way to start building credit. Our low rate credit card is a great too you can use to establish and build credit.
- Share loans are also a great way to establish a credit history. Contact us for more information on setting up a share loan with Triangle.
- Automating payments is a great strategy to make sure you pay your bills on time. Use online or mobile banking to stay on top of your bills and set up scheduled payments.
- Keep track of your credit score regularly and get credit reports with a Triangle Better Checking account.
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
What really makes credit unions and banks different? In this tip we list the top differences between both types of financial institutions and what those differences mean for you and your finances.
- Interested in becoming a member? Join Triangle to experience the credit union difference if you live or work within our service footprint (Hillsborough, Merrimack, Belknap, Rockingham and Cheshire Counties of New Hampshire, and the Franklin, Worcester, Middlesex and Essex Counties of Massachusetts).
- Don't miss our great rates! Credit unions often have better rates than banks. If you want to earn more interest with deposit accounts or get a better loan rate, compare now to see the difference.
- View episode transcript.
Like what you heard? Go ahead and share on your social media! There may be someone out there who's interested in this tip.
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Learning how to identify suspicious emails is essential to keeping you safe from cybercriminals.
Did you know that mishandling a phishing attack could be just as dangerous as falling victim to one? In this tip, we provide some examples of what NOT to do when you receive a suspicious email.
- Did you know Triangle's Better Checking account comes with IDProtect which offers you identity theft protection for you and your eligible family members? It's one more layer of protection between you and the variety of cyber threats you may encounter.
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
It's home improvement time! As the weather improves, so does the inspiration to improve your home on both the inside and out. Improvements do have a cost, but if you choose them wisely, you could increase the value of your home.
Listen in for the top 10 home improvements for 2021 that could increase your home value.
- Need the funds? A Home Equity Line of Credit (HELOC) is a great way to use the equity in your home to make the improvements you want.
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Credit cards are great tools for building credit, but their convenience can lead to some serious financial issues if you're not prepared.
We cover a few of the common pitfalls that credit card users face and give some tips on how to successfully avoid them.
- Looking to establish credit? Our low rate credit card is a perfect way to start!
- Set spending limits and lock your Triangle cards with our Card Manager App.
- Set up scheduled payments with online or mobile bill pay to make sure you never miss a monthly payment.
- View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
In this episode we sat down with Eric Cooper, a Financial Planner with Triangle Financial Group to talk all about some of the fundamental principles of how investing works and what you can do to get started with an effective investing strategy.
- Email Eric Cooper directly at ericcooper2@financialguide.com
- Contact Triangle Financial Group to ask a question or schedule a meeting
- Learn more about Triangle Financial Group
- Watch TFG's virtual webinars and register for upcoming workshops
- View episode transcript.
Eric Cooper is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC, Member SIPC. Supervisory address: 101 Federal Street, Suite 800, Boston, MA 02110 • 617.439.4389.
NOT A DEPOSIT - NOT NCUA INSURED - NOT GUARANTEED BY ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY THE CREDIT UNION - MAY GO DOWN IN VALUE.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Benjamin Franklin adequately said, “in this world, nothing is certain except death and taxes.” You know tax season comes around every year, but if you’re like a lot of other people, you dread it.
If you dread this Tax Season Time of year, here are some coping strategies to get you through.
View episode transcript.
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In this tip, we’ll explore the future of connected devices, how these devices may impact cybersecurity, and what you can do to stay safe.
This tip comes from an article provided by KnowBe4 Security Awareness and Training Solutions.
- Learn more about Knowbe4 Security Awareness.
- View episode transcript.
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Are you wondering what you should do with that extra money you got in stimulus recently? This tip offers five things you can do with that check to help yourself build net worth, pay down debt or save for retirement.
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You might think the most important reason to teach kids about saving money is to prepare them for the inevitable rainy day. While that is important, there is a more impactful reason. Delayed gratification or delayed satisfaction is a valuable concept kids should understand in order for them to develop effective saving habits.
- Kickstart your child's saving habits started with a Kids Club account.
- Download a free $5.00 first deposit coupon when you open a new account.
- Have older kids? Check out our Teen Club account with saving and checking tools for teens.
- View episode transcript.
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If you're preparing to buy a new home, you'll probably want to have a good idea of what to expect. This tip gives you an outline of steps you'll take when you advance from home shopping, to home buying.
- Learn more about our mortgage program at: https://trianglecu.mymortgage-online.com/index.html
- Check our current mortgage rates
- Try our mortgage calculator to see how much a new home may cost
- View episode transcript.
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Need some guidance on getting a budget rolling? In this webinar Terri explains everything about budgeting from the top reasons why you should be budgeting to the list of items you'll want to include.
This audio version of an online workshop has hands-on materials you can use to start and maintain your very own budget.
Email tconnolly@trianglecu.org or tcupodcast@trianglecu.org for budget forms and materials.
Resources:
Watch the presentation on YouTube: https://www.youtube.com/watch?v=B_4i4LFnR4E
Check out other upcoming webinars and events: https://www.trianglecu.org/home/benefits/events
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Do you think you're not old enough to start investing or that you don't have enough to even start investing with? Don't think that investing is only for those in a particular age group or who have a lot of money to spare. There are reasons why you should start investing as soon as you can and why the younger you are, the better your retirement could be.
- Need financial advice? The experts at Triangle Financial Group can help you map out your goals and get yourself on the right path towards a solid retirement.
- Try retirement calculators to see how much you could earn over time when you regularly contribute to a retirement account.
- View episode transcript.
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Keeping your personal information secure is important whenever you use connected devices. That means that even when you're home, you should stay aware of how to guard against ongoing threats. This tip covers some strategies you can take to maintain proper cybersecurity from home.
- Learn more about KnowBe4 Security Awareness.
- Get identity theft protection with a Triangle Better Checking account to get access to identity protection services, monthly credit reports, notifications and more.
- View episode transcript.
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Medical bills can be expensive, and for many who carry that debt month over month, they can get discouraging. These tips will help you take a fresh look at your medical debt and give you some ideas on how to manage those bills better and pay them off faster.
- Try Healthcare Blue Book to learn the cost of quality care and avoid overpaying.
- If you have a lot of debt, try consolidating with a personal loan. Check out our current rates to see whether you could pay down that debt faster with a lower rate.
- View episode transcript.
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Looking for your next vehicle? When it comes to car shopping, it can be intimidating, confusing and overwhelming. Fortunately, there are some ways you can shop smart and make sure you find the right car at a great price.
- Get a great rate on your next vehicle! Check out our current auto loan rates for purchase and refinance.
- Easily shop preferred dealers with our AutoSmart tool.
- Doing research? Check out Kelley Blue Book to get an idea of car values and prices.
- View episode transcript.
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When it comes to goal setting and achieving, we often find ourselves fighting obstacles. We may lose motivation, get frustrated, or even just exhausted. But overcoming the challenges of setting goals, means we have to stand guard against our own "mind drama". In this episode, we chat with lifestyle coach Barbara Hatfield on how to establish goals that we can be sure we will achieve no matter what they are.
Contact Barbara for a FREE 1 hour coaching session!!!
Email: barbehatfield@gmail.com
Visit Barbara's Facebook page for updates and inspiration.
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For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Have you thought that estate planning is only for people who are getting close to retirement or wealthy people with expensive assets? The truth is, estate planning is important for people of all ages to properly plan ahead for their future and the future of their family, regardless of how old or wealthy they are.
There are many reasons why everyone should have a solid plan for their family's financial well-being, and estate planning is the way to get that done.
- To learn more about estate planning contact Triangle Financial Group at trianglefinancialgroup.com
- Check out upcoming free estate planning webinars on our website at trianglecu.org
- View episode transcript.
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Did you know that there are scammers who try to trick you into purchasing gift cards? Some of these lesser known scams can actually cost you valuable time and money if you don't know how to recognize them. Listen to learn a few common ways people are led into purchasing gift cards for scammers and how you can avoid being the next victim.
- Don't let thieves get the best of you! Get yourself identity protection through a Triangle Better Checking account. It offers IDProtect coverage, for you and eligible family members along with other valuable benefits. Visit our website for details and guide to benefit.
- View episode transcript.
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Traveling has changed a lot over the past year. If you're itching to get away for a little travel time, but don't want to fly on a plane, you can still have an option in RV travel. If you're new to RVing or considering it for the first time, listen to this tip for some things you should think about when forming your travel plan.
- Thinking of buying an RV? Check out our current RV loan rates
- View episode transcript.
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Home Equity Lines of Credit, or HELOCs, are great financial tools you can use to finance a variety of things like home projects, debt consolidation, college costs and more by borrowing against the existing equity of your home. In this episode we chat with Ryan Campbell, one of Triangle's Mortgage Originators, about what HELOCs are and how they work.
Links:
- Check out our current HELOC options
- Learn more about the other Mortgage products at Triangle
- Want to chat? Set up a free consultation with one of our Mortgage Originators.
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Looking for some simple ways to spruce up your home this year? Believe it or not, you don't have to break the bank to do a little changeup and improve your home environment. Try some of these ideas for small improvements that can make a world of a difference.
- Thinking bigger but low on funds? Look into a Home Equity Line of Credit to see how you can use your home's equity to afford your next big project.
- View episode transcript.
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If 2021 is the year that you are going to focus on your debt and finally get it out of your life, then we have the perfect tool to help you do that and best of all, it's free!
- View the app in the App store.
- View the app on the Google Play store.
- View episode transcript.
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It may be tempting to share all kinds of things about your personal life on social media, but it is also important to make sure you're not sharing too much personal information that someone could then use to steal your identity. In this tip we list a few things that you can do to guard your identity when you use social media.
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Looking for some new year resolutions that you know you can accomplish in relatively short time spans? If you're ready to attempt some fresh financial new year resolutions, then try starting out with one or two of our suggestions. You'll feel accomplished and motivated as you see yourself completing each one and gain financial ground throughout the year.
- Look into Triangle's Better Checking Account with ID Protect and other great credit monitoring features.
- If you're already a Better Checking member, activate your membership at idprotectme247.com to regularly review your credit score and report.
- Learn about how to track your net worth from one of our Calculating Your Net Worth Money Tip.
- View episode transcript.
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Are you currently on a cell phone protection plan? How do you know you're not overpaying on that service? Well, if you're paying your phone bill through a Triangle Better Checking account, you already have cell phone protection! In this tip we explain what that protection includes and why there's no need to pay other providers for practically the same coverage.
Learn more about the benefits of a Better Checking account!
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View episode transcript.
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At some point, you may be asked by someone you know to help them get a loan by co-signing for them. Because you want to help them out, you may not hesitate to jump right into it and sign that dotted line. But before you do, there are a few things to consider like what it will mean for your current financial situation, your credit history and even your relationship.
In this tip you'll gain some insight into what you should take into account before agreeing to co-sign another person's loan.
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View episode transcript.
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Fraudsters don't take time off for the holidays. In fact, it's this time of year when they try even harder to trick you into handing over your personal information. Don't fall for it. In this tip, we give you a list of specific ways fraudsters try to scam you and what you can do to avoid falling for their tricks.
This tip features an article by KnowBe4 Security and Training Solutions covering how scammers have been using COVID related information to trick you into handing over your personal information.
Check out Knowbe4.com for information implementing security tools and training for your workplace.
View episode transcript.
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In this episode, we chat with three local nonprofit organizations, The Salvation Army, The Front Door Agency, and The Boys & Girls Club of Greater Nashua, about what they do to help people in the community. They discuss their overall mission, share some personal stories and give ideas on how volunteers can get involved and give back.
The Salvation Army: https://nne.salvationarmy.org/nashua https://www.facebook.com/thesalvationarmynashuanh
The Front Door Agency: https://www.frontdooragency.org/ https://www.frontdooragency.org/give/
Boys & Girls Club of Greater Nashua: https://www.bgcn.com/ https://www.facebook.com/BoysGirlsClubofGreaterNashua/
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For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
The holidays are full of excitement and energy, but even with all the talk of cheer and peace, sometimes they seem too much for us to cheerfully handle. Fortunately there are some inexpensive things you can do to cut down on that stress and get back to enjoying your holiday.
- If you like to host, try asking others to contribute a side dish or dessert. This cuts down on prep time and the overall food bill.
- Step away from the tasks and lists by taking some time to go for a nature walk. It's healthy exercise and helps your mind relax.
- Take time to organize and cut the clutter by donating things you've collected but no longer use. Living in a clean, organized space gives you a place to rest and relax peacefully.
- View episode transcript.
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What if you set aside 1 hour a week to learn something new about finance? If you already spend hours a day on your phone, why not put some of that time towards learning more about money? There are countless resources out there to help you boost your financial knowledge, and in this tip, we provide a list of some that you can start looking into right away.
Read finance books:
- Total Money Makeover - By Dave Ramsey
- Rich Dad, Poor Dad - By Robert Kiyosaki
- The Automatic Millionaire - By David Bach
Find Influencers to follow:
- Dave Ramsey - @daveramsey
- Ramit Sethi - @ramit
- You Need a Budget - @youneedabudget
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Ever wondered if you could get your shopping strategy down to a simple science? With some of the shopping secrets we share in this episode, you might be able to. We present some different methods you can use to buy thoughtful gifts for those on your list, and a few ways you might save some money doing it.
Plus, we provide additional suggestions on what you can do to help keep your payment and personal information safer while you do your shopping both in-person and online.
View episode transcript.
Running Now! 12 Days of Giving Offer for Listeners!
From now until December 12th, you can enter to win one of ten $50 Amazon gift codes for holiday shopping, or even just to treat yourself. Just send us an email (using the link below) with a shopping secret of your own and a screenshot of your subscription to this podcast and we will automatically enter you into the drawing. Good luck!
Please see the details below and review the Official Rules for more information.
Offer details:
- This offer is for a chance to win one of ten $50 Amazon gift codes. One code only will be awarded to a single winner.
-
Open to non-members and members within our service footprint, to include those who work or reside in the Hillsborough, Merrimack, Belknap, Rockingham and Cheshire Counties of New Hampshire, as well as the Franklin, Worcester, Middlesex and Essex Counties of Massachusetts.
-
Contest runs until Saturday, December 12, 2020.
Email us at mailto:tcupodcast@trianglecu.org with your shopping secret and your screenshot to enter.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Donating to charities is a heart-warming experience—and a teaching opportunity for those who have young people in their lives. During the gift giving season, please consider giving to your local area service providers that offer community outreach programs for the underserved.
When you donate or give to a community program provider, your gift is added together with donations from others to make a tremendous impact within you own community.
If you're looking for a way to give back this season, consider making a donation to any of the organizations below:
- Front Door Agency
- Nashua Soup Kitchen and Shelter
- NH Food Bank
- Harbor Homes
- The Salvation Army of Greater Nashua
- Make-A-Wish NH
If you make a donation in someone's name, feel free to use this certificate template to make the gift extra special.
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If you have a tip you want to share, send us an email at tcupodcast@trianglecu.org and we will do our best to cover it on the show.
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Do you find yourself overspending on your food budget? Groceries can be expensive and trips to the store can lead to impulse purchasing that adds up to a higher bill than originally planned. Fortunately, there are some things you can do to save yourself some dough. Listen to this tip for a few practical things you can do to cut those back on those grocery costs.
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Do you have a game plan for holiday shopping? It can be challenging to make sure you get the right gifts for all the people on your list and make sure you keep your spending within the budget. In this tip we present a method that you can use to strategize your holiday shopping and stay organized at the same time.
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Phishing scams are legitimate looking email messages that fraudsters use to try and steal your sensitive information. These dangerous messages may look like they come from legitimate sources, but don't be fooled! Fortunately, there are ways to recognize the elements of a phishing email.
This tip features an article by KnowBe4 Security and Training Solutions covering how scammers have been using COVID related information to trick you into handing over your personal information.
Check out Knowbe4.com for information implementing security tools and training for your workplace.
View episode transcript.
Like what you heard? Go ahead and share on your social media! There may be someone out there who's interested in this tip.
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
It's the time of the year for Medicare Open Enrollment. If you're in the process of applying for Medicare or planning to apply for it in the near future, you'll want to listen to this episode. Financial Planner Brian Luce answers some frequently asked questions about Medicare that cover topics like planning and cost to coverage and ways to save.
If you want to learn more about Triangle Financial Group's products and services visit trianglefinancialgroup.com.
View our Upcoming Events to see a list of webinars and seminars on retirement planning, estate planning, Medicare, and more!
View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
NOT A DEPOSIT - NOT NCUA INSURED - NOT GUARANTEED BY ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY THE CREDIT UNION - MAY GO DOWN IN VALUE.
Looking for a way to maximize your dollar on health supplies, procedures or other medical costs? Try a Flexible Spending Account (FSA)! These special accounts help you set aside pre-tax dollars to put towards all kinds of health and wellness expenses. This tip breaks down what a Flex spending account is and provides a practical example of how you can use one if you are anticipating out-of-pocket healthcare costs.
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Ever wondered what exactly a CD account is and why someone would use one in their financial plan? In this tip we not only explain how it works or why someone would use one, we offer a list of what to keep in mind if you ever consider opening one at some point along your financial journey.
Triangle offers competitive CD rates for a variety of terms. Check them out now!
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Triangle's CEO Scott MacKnight, shares a little bit about himself, his background history with the credit union, his role in helping the Triangle navigate the COVID-19 pandemic, and his vision for the future of the credit union and its role in the financial industry.
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For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
In times like the COVID-19 pandemic, there are people that take advantage of a crisis to gather sensitive personal information from unsuspecting individuals. Don't get caught in their scams!
This tip features an article by KnowBe4 Security and Training Solutions covering how scammers have been using COVID related information to trick you into handing over your personal information.
Check out Knowbe4.com for information implementing security tools and training for your workplace.
View episode transcript.
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Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Losing income can be stressful, especially if you still have credit card payments and debt to pay. If you find yourself in this situation, there are things you can do to minimize the stress. In this tip, you'll get a list of 3 ways to manage your credit card payments if you've lost income.
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Does your credit card have a cash back rewards program? With some planning and organization you can actually use your card to earn money just for using it.
This tip covers a strategy you can use to maximize your cash return from your credit card rewards program and get more bang for your buck.
Check out Triangle's Membership Rewards credit card to learn about its cash back program PLUS all the other benefits.
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Economic challenges and the recent pandemic impacted financial lives in ways most people didn't see coming. These challenges bring with them a lot of concerns and questions about the best actions to take when it comes to financial security.
In this episode we chat with Brian Luce, Financial Planner at Triangle Financial Group, about what the economy, the CARES Act, and the stimulus means for your financial planning.
Notes:
- Saving some of your stimulus money is a good way to keep a reserve of cash available if the economy dips.
- Down economies can offer a lot of opportunities if you are in a secure financial position. Check with your CPA or financial professional to learn how.
- Visit the U.S. Treasury website to learn more about how the CARES Act can help you.
- Visit trianglefinancialgroup.com to learn more about TFG and its products and services.
- View episode transcript.
For more information visit trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Brian Luce is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC. Member SIPC. (www.sipc.org). Supervisory office: 101 Federal Street, Suite 800, Boston, MA 02110 Tel: 617-439-4389. CRN202209-270507
NOT A DEPOSIT - NOT NCUA INSURED - NOT GUARANTEED BY ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY THE CREDIT UNION - MAY GO DOWN IN VALUE.
Budgeting can be a challenge. Especially if your income stream isn't consistently the same month over month.
This tip will provide some guidelines on how to break down your budget items to make sure you're properly allocating the right amounts of money to each of your items.
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For most people, trying to save money is easier said than done. In this tip we want to provide you with a simple and EASY way you can start saving money right away.
Quick summary:
- Keep your savings account separate from your checking account to avoid losing track of how much you're saving and spending.
- Use direct deposit to easily automate your saving.
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There's no special secret to becoming a millionaire. With some planning, determination and persistence, there's no reason why you too can't be there one day.
In this money tip, we cover 5 millionaire habits you can start doing right now to get yourself on the wealth building track.
Need more inspiration? Check out some of the links and resources below for even more information on millionaire habits.
- Check out this Business Insider article that includes the habits we mentioned plus a few more.
- Here's another list of 9 millionaire habits from Entrepreneur.com
- Ready to learn about passive income and investing? Contact Triangle Financial Group to set up a meeting and start an investment portfolio.
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Does the price of a college education overwhelm you? For most people, college is part of their long-term plan, but the costs can almost make it seem like it's not worth it.
There are ways to save thousands off your overall college costs. In this tip we share some ways you can save money when pursuing a college education so you don't find yourself overburdened with extensive debt after you graduate.
Links:
- Want to start a college saving plan? Check out Triangle Financial Group to work with an advisor and set up a long-term financial strategy.
- View transcript.
Like what you heard? Go ahead and share on your social media! There may be someone out there who could benefit from this information.
Visit trianglecu.org to learn more about how we can serve you and don't forget to follow us on Facebook and Twitter!
Throughout the years, community credit unions have worked hard to support local non-profits striving to make a difference in the lives of the people they serve. One organization credit unions work closely with is Make-A-Wish NH which serves children diagnosed with life-threatening medical conditions by granting them the wish of a lifetime.
In this episode, we chat with Julie Baron, CEO of Make-A-Wish NH, about the impact her organization has made in kids' lives by granting them their very special wish.
Interested in getting involved? Check out the links below for inspiring stories and more information on how to help.
Links:
- Visit the Make-A-Wish NH website to learn more
- Want more stories? Check out their Facebook and YouTube to watch more wishes come true.
- View episode transcript.
For more information on how Triangle supports the community visit our website at trianglecu.org and don't forget to like us on Facebook and follow us on Twitter!
Are you ready to start doing something about your debt but have no idea where to start? We can help! This money tip gives you a list of six practical ways you can start digging yourself out of debt to work your way towards financial freedom.
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When it comes to budgeting, you may find yourself faced with the challenge of deciding what you SHOULD spend your money on versus what you WANT to spend your money on. This tip will help you determine what your wants and your needs are so you can properly set up your budget to include both.
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