MoneyWisdom Blog

5 Ways To Overcome Debt Stress

Posted by Hanscom Federal Credit Union on May 7, 2018 2:55:00 PM

If overwhelming debt is causing you stress, you are not alone. Millions of Americans are suffering from anxiety and depression because they have difficulty paying their financial obligations.

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Topics: Money Management, Debt

Introducing Hanscom FCU's No-Money-Down Mortgage

Posted by Diana Burrell on May 3, 2018 2:14:17 PM

Maybe you’re tired of writing rent checks each month, knowing that your hard-earned salary funds your landlord’s real estate investment. Or that living below a bunch of hard-partying college kids has worn thin, along with your apartment walls, which are more like Egyptian papyrus — and as old, too!

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Topics: Money Management, mortgage, Home Ownership

What is a Totten trust?

Posted by Diana Burrell on May 2, 2018 10:22:44 AM

A Totten trust is the same thing as a payable-on-death account, a type of informal revocable trust in the form of a deposit account at a financial institution. When you pass away, a Totten trust allows a person you name as beneficiary to claim the money without a probate court proceeding.

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Topics: Money Management, Estate Planning

10 smart moves to make after filing your taxes

Posted by Diana Burrell on Apr 23, 2018 9:22:34 AM

Most Americans start thinking about tax preparation shortly before April 15, the traditional date tax returns are due to the IRS. 

I was one of those Americans. I was always making a vow that next year’s tax season would go easier because this year was the year I’d get my tax act together. But then, you know…life. The next thing, it was the following April and there I was again, tearing around the house like a whirling dervish, frantically looking for a wayward 1099. It struck me a few years ago: the best time to prepare for next year’s season? The days after tax returns are due, when my head is in the game and I’ve got taxes on my mind.

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Topics: Money Management, Taxes

What happens to your money when you die?

Posted by Hanscom Federal Credit Union on Apr 23, 2018 7:12:00 AM

If you were to become incapacitated or die, how easy would it be for relatives or someone else to take over your financial affairs? Would they have to search through a mountain of paperwork? If you don’t receive paper statements, would they even find out about all of your accounts?

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Topics: Money Management, Estate Planning

4 Ways to Manage Medical Debt

Posted by Hanscom Federal Credit Union on Apr 11, 2018 7:12:00 AM

Unfortunately, when you get sick or injured, getting better is often not the only concern. Even if you have health insurance, hefty medical bills can hang over your head like an ominous rain cloud. Many people feel that they have no choice but to ignore the bills or eventually file for bankruptcy. However, these are not the only options. There are many ways you can make paying your medical bills more manageable.

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Topics: Money Management, Debt, Financial Wellness

5 Reasons to Start an Emergency Fund

Posted by MoneyWisdom Newsletter on Apr 10, 2018 2:23:39 PM

A number of unexpected expenses could cause you unnecessary financial strain if you don’t have emergency savings. Here are five great reasons to start an emergency fund today.

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Topics: Money Management, Savings, Financial Wellness

5 Reasons to Choose Your Credit Union for a Car Loan

Posted by MoneyWisdom Newsletter on Apr 10, 2018 2:18:53 PM

A car loan is helpful. But a good car loan can make a dramatic difference in your life. It can save you money, reduce worries, and minimize hassles. And at Hanscom Federal Credit Union, we specialize in good car loans.

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Topics: Money Management, Cars

Going Through A Divorce? Don’t Change Your Beneficiaries… Yet

Posted by Diana Burrell on Mar 23, 2018 7:00:00 AM

If you or your spouse have filed for divorce, you may have the overwhelming urge to change beneficiary designations on your checking and share accounts, personal investments, life insurance, and retirement savings accounts — especially if your relationship with your spouse is contentious. The last thing you want to do at a time like this is ensure your soon-to-be ex gets their hands on money that belongs to you, right?

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Topics: Money Management, Insurance, Divorce

Should children get an allowance?

Posted by Sandra Quadros Bowles on Mar 21, 2018 6:02:00 AM

We can’t cite a specific study, but Life 101 teaches us this basic statistic: All kids enjoy having money.

There’s always a new toy to play with, or that hot movie to see or a cool new phone app to download.

Where does that money come from? Unless they are old enough to hold a paying job or lucky enough to have access to an unlimited trust fund, they make those cash withdrawals from the bank of Mom and Dad.

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Topics: Money Management, budget, children

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