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Stay Safe from Gift Card Scams This Holiday Season
11/1/2024

Stay Safe from Gift Card Scams This Holiday Season

As the holidays approach, gift cards remain a popular gift option, but they’re also a target for scammers. These fraudsters use tactics like phishing and tampering with physical gift cards to steal funds before they can be used. To protect yourself and your loved ones this season, it’s important to stay aware of these risks.

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Should I Save for Retirement or Emergencies?
11/1/2024

Should I Save for Retirement or Emergencies?

Having a well-stocked emergency fund is important. But so is saving for retirement. So how do you know which one to focus on? Well, we’ve got you covered. Here’s what you should know.

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Avoiding Financial Frights: How to Budget for Halloween Spending
9/23/2024

Avoiding Financial Frights: How to Budget for Halloween Spending

Halloween is a time for spooky fun, but it can also bring a scare to your wallet if you're not careful. From costumes to decorations and treats, the costs can add up quickly. Here’s how to manage your Halloween budget and keep your spending under control while still enjoying the festivities.

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Preparing for Tax Season
3/7/2024

Preparing for Tax Season

Now is the moment to turn your attention to your tax obligations. With less than 60 days remaining until the tax deadline now is a good time to prepare your documents and file.

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Unlocking Financial Goals: The Power of Club Accounts
2/15/2024

Unlocking Financial Goals: The Power of Club Accounts

Need a smart strategy to save on essential school supplies? Planning your dream vacation or gearing up for the holiday season? With a club account, you can save for essential school supplies, exciting vacations, and joyful holiday celebrations, making your financial goals more attainable and stress-free.

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Three Tips to Building Your Savings

12/23/2022

Three Tips to Building Your Savings

It’s a new year! Now is a great opportunity to develop some positive savings habits to build or refresh your Emergency Savings account.

Experts recommend that at any time you have three to six months of expenses saved in case of an emergency. If you don’t have much in your savings account now, getting to that amount can seem intimidating. Here are three ways to get started towards reaching your goal:

  1. Use a physical calendar to track your spending. Here’s how it works: List everything you spend money on every day. Example for January 7:
  • Coffee: $3.35
  • Groceries: $77.28
  • Auto Insurance: $65.00
  • Dinner out with friends: $48.00
  • Total: $193.63

There are clearly items that you can’t stop paying, such as your car insurance or groceries, but maybe you can spend less when you go out with friends or cut back on coffee. You’ll start to get a clear picture of how you’re spending money and find ways to cut back.

  1. Try a savings challenge. There are many savings challenges on the internet. A good place to start is to save $1 for every week that has passed in the year. Week 1, you put aside $1; Week 2, you put aside $2, and so on until week 52 when you put aside $52. By the end of the year, you’ll have saved $1,378. You can do this with cash or by transferring from your checking to savings account every month.
  2. Set Savings Goals in Online Banking. In the “Credit Score & Budgets” section of Online & Mobile Banking, you’ll find the Savings Goals tool. You can set one up for Emergency Savings that will help you keep on track. You determine the account you want to use, the goal amount, and the date you hope to achieve your goal. This will keep your goal front and center as you go about your everyday banking!

Find the method that best works for you! Knowing you have money ready for an emergency will help limit financial stress. If you are experiencing financial difficulties or need some assistance in getting your savings on the right track, GreenPath Financial Wellness can help! This is a free service for MVCU members, and they provide judgment-free counseling for all of your financial questions.

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