MoneyWisdom Blog

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

4 Ways to Manage Medical Debt

Posted by Hanscom Federal Credit Union on Jan 5, 2019 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

CU Thrive: The Automated Savings Program That Pays 5.00% APY*

Posted by Diana Burrell on Dec 20, 2018 1:57:00 PM

If you've ever wished there was an easier way to save for a down payment on a new car or build an emergency savings account and get a great rate of return on your money, you need to check out our automated savings program, CU Thrive. Right now, it's paying a 4.89% dividend, a rate that's really hard to beat. Here's how it works.

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Topics: Money Management, Savings

Loan Offered to Federal Employees Affected by Government Shutdown

Posted by Hanscom Federal Credit Union on Dec 20, 2018 9:51:40 AM

Hanscom Federal Credit Union wants its its members who are federal employees to know that if they're affected by a limited government shutdown that could go into effect December 21, they may be eligible for a LifeLine Loan. In addition, Hanscom FCU will waive penalties for premature withdrawals on term share certificates and allow qualified members to skip consumer loan payments with no fee.

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Topics: Money Management, Financial Wellness, Government

25 Money-Saving (No Grinch!) Christmas Ideas

Posted by Hanscom Federal Credit Union on Dec 12, 2018 10:05:00 AM

“Then the Grinch thought of something he hadn't before! What if Christmas, he thought, doesn't come from a store. What if Christmas...perhaps...means a little bit more!” 

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Topics: Money Management, Holidays, Savings

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