An emergency fund is an essential part of your personal finances. Its importance is stressed in almost every personal finance book and budgeting blog, and yet 26% of Americans currently have no emergency fund in place. Of those who do have an emergency fund, up to two-thirds do not have the often-recommended six months’ worth of expenses saved up.
Having a good credit score is incredibly important. Not only does it define your creditworthiness but it can also be a blueprint for financial institutions to see your monetary situation. Today’s economy runs on credit score based decisions. Have you ever heard of the saying “First impressions are everything?” That’s the type of approach you should take when trying to construct a strong credit score. Here are a few tips and tricks on how to build good credit and keep it there.
Millennials are labeled constantly. One of the characteristics that sets us apart from other generations is that we don’t make large purchases. Well, things are changing and the first big purchase for many of us is a car. There are a multitude of factors that financial institutions consider when approving a loan for a vehicle, and there are just as many factors that you should consider when choosing your lender—like who will give you the lowest APR with your credit. There’s a lender out there for each of us.
Alright millennials, listen up. I might be wrong in assuming that you’re anything like me but I’m gonna go ahead and give it a shot.
You eat out. A lot. You love Chipotle and Chickfila. You see no shame in stopping at a sushi bar after work. You frequent Starbucks and Sonic on the weekends and then complain that you’re broke.
Regardless of how you got here, you’re here. Maybe it was one credit card you sort of…forgot about. Maybe it was a few cards you neglected. Maybe you didn’t actually have the money to make the payments and, well, here you are.
Generation Y… The ME Generation… Millennials… The generation of the internet age is one of the largest and most diverse in the U.S. Although Millennials have been defined by a relationship to technology, the generation has been steadily redefining adulthood. Millennials have adapted and endured in a post-recession economy, their social and global values have inspired change in the labor market, and now one-third of Millennials are living in a parent’s home.
Congratulations on making it a point in your life that only 1/3 of Americans ever accomplish. Graduating college is still not something everyone does for various reasons. What on earth happens now that you have this very expensive credential? Well, that depends on your degree and your goals, because the paths in front of you are numerous.
Summer is here! You know what that means? Beaches, swimming pools, tan lines, road trips, questionable summer attire and of course, a job.
Whether you are taking a break from your educational endeavors or you walked across the stage with your college degree, summer is the time most people begin job hunting. That means it is time to set the smartphone down, get the old laptop out (try looking for it underneath the stack of dirty clothes in the corner of your room) and update the resume.
Your credit union has experts that can advise you on what to do as you go into adulthood and handling some of your own money for your own future. Here are some of the differences between the most popular types of investing or saving
So, you want to buy your first car? Well, you’ve got your work cut out for you, but if you’re willing to do a little homework, you can save money and buy a car that will last for years.
Summer is here and that frenzy job hunt is under way! As teenagers, summer jobs are an attractive way of making money while keeping occupied during the summer. Having a job is a great experience which often teaches you to be more aware of your finances. Are you interested in getting a summer job, but don’t know where to start? Here are a few ideas to get you started.
Nine in ten parents believe that college is a worthwhile investment. While this statistic from Sallie Mae’s How America Saves for College 2015 report shows that the value placed on higher education is nearly universal, a staggering 84% of parents are also willing to stretch themselves financially in order to make college possible for their children. “Better we have the debt than [our children] have the debt,” Democratic presidential candidate Martin O’Malley was quoted as saying in a recent Washington Post article on student loans and parent borrowers.