MoneyWisdom Blog

How Direct Deposit and Payday Perqs Improved My Life

Posted by Bill Burpeau on Apr 17, 2019 11:08:00 AM

Back in the day, I got a paper paycheck every Thursday from my employer. It was the highlight of my week, for sure. What wasn’t fun was depositing my check. I had to scoot directly from work so I could get to the bank before it closed.

If I ran late, it meant waiting two more days before I could make a deposit. Then I had to stand in line with everyone else on Saturday morning. I definitely had better things to do.

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Topics: Money Management, Checking, Hanscom FCU

Money Market and Higher Yield Savings Accounts Explained

Posted by MoneyWisdom Newsletter on Apr 1, 2019 4:03:03 PM

Our Money Market and Higher Yield Savings accounts are both great savings vehicles when you're looking for a no-risk return on your money. Your funds at Hanscom FCU are federally insured up to at least $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government. The following chart can help you understand how these accounts differ from each other so you can make the best decision for your finances.

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Topics: Money Management, Saving Money, Cars, Motorcycles

5 Big Mistakes Even Smart People Make With Credit Cards

Posted by Hanscom Federal Credit Union on Mar 30, 2019 1:39:24 PM

Despite the popularity of credit card accounts, it’s easy to for holders to make mistakes that can cost them money. These are the top blunders to avoid:

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Topics: Money Management, Debt, Credit Card

Do You Have Too Much Debt?

Posted by Hanscom Federal Credit Union on Mar 29, 2019 1:05:45 PM

How do you know if you have too much debt? Whether or not you have too much debt is not always easily determined. However, there are certain signs that indicate that you are indeed experiencing some major financial trouble. It is important to be able to recognize these signs and to watch out for them in order to avoid the severest forms of financial trouble: bankruptcy and foreclosure.

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Topics: Money Management, Debt, budget

4 Strategies to Manage Irregular Income

Posted by Bill Burpeau on Feb 21, 2019 6:48:00 AM

How can you make a budget when you are never sure how money will be coming in? It's a dilemma that many entrepreneurs, artists, and commission-only salespeople face. If doing the work you love to do is important to you, here are four things you can do to manage an unsteady source of income:

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Topics: Money Management, budget, Work, Business

Reduce Credit Card Debt FAST in 3 Easy Steps

Posted by Hanscom Federal Credit Union on Jan 29, 2019 10:09:00 AM

A $2,000 balance on your credit card – how did that happen? (Oh yes, dinner at Chez Fifi, new tires, school clothes for the kids…) Thankfully the minimum payment is only $38. You can afford that!

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Topics: Money Management, Debt, Credit Card

7 Reasons to Keep Your Landline

Posted by Hanscom Federal Credit Union on Jan 24, 2019 1:32:48 PM

If you reside in cellphone-only household, you're not alone. More than fifty percent of adults in the United States live in households without landline telephone service according to a 2016 survey by market research firm GfK MRI, a number that is sure to be higher today in 2019. Compare that with 2010, when the total number of households with cell phone-only service was just 26 percent. Clearly, the cellphone-only lifestyle is the new normal. But is this new normal the best choice for everyone? For some people, keeping that trusty landline is a smart move, even if it costs a little extra each month.

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Topics: Money Management, budget, children

3 Common Money Management Mistakes

Posted by Maria Porto on Jan 17, 2019 8:18:00 AM

Kevin O’Leary is a probably best known as one of the Sharks on ABC’s Shark Tank. As a successful entrepreneur, he is a well-known millionaire. I recently learned that he is also an advocate for financial education and his Cold Hard Truth books are worth a read for anyone who is trying to control their finances.

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Topics: Money Management

7 Steps to Building Your Post-Divorce Budget

Posted by Diana Burrell on Jan 10, 2019 1:52:00 PM

 

You could be in the position to splurge on a sexy, sporty sedan to celebrate your divorce. On the flip side, the loss of your spouse’s income contribution to the household could be greater than your drop in expenses.

Either way, a post-divorce budget will let you know where you stand with your finances, help you avoid getting whacked with surprise expenditures, and keep you on a steady course of financial stability.

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Topics: Money Management, Divorce, budget

5 Easy Ways to Cut Monthly Expenses

Posted by Hanscom Federal Credit Union on Jan 8, 2019 6:00:00 AM

Ever notice how your monthly expenses always seem to equal whatever salary you’re making, even after you get raises? The phenomenon is called “lifestyle creep” and it can keep you from reaching all kinds of financial goals, from paying down debt, to saving for retirement. One way to get lifestyle creep under control is to have any future raises you get direct deposited into savings – like a 401(k) account through your employer, or an Individual Retirement Account (IRA). But here are five things you can do right now to cut your monthly expenses.

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Topics: Money Management, Savings, budget

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