T&I Credit Union Blog

Your home needs remodeling, but which projects will add the most value when it comes time to sell it? Kitchens and bathrooms lead that list, with mostly cosmetic things like new floors and fixtures yielding good results. The biggest return, however, might be under your feet, with a basement refit into living space paying back almost its full cost. More good choices are new siding and insulation and a roof replacement (if you actually need one). Be sure your projects keep you in harmony with your neighborhood, and be sure you hire reliable contractors to do the work.

Your finances are a lot like baseball. Three strikes (missed payments) can put you on the bench. And while you’d love to have the home run, singles and doubles can add up when you manage your money right. Remember that it’s a long season, and always keep an eye on your stats (budget, portfolio). Be as disciplined as a home run hitter waiting for the right pitch, and learn to adapt when situations change. You’ll end the season with a winning record … and a healthy retirement!

Are you a smart shopper, always looking for a bargain? Well, beware, because not every “bargain” out there is what it seems to be. It might be a “discount” on an inflated price, or it might be a BOGO when you only need one. It might be something you don’t actually need, but the price drop draws you in, or it might be drastically discounted because it’s a returned or damaged item. Finally, have you done your homework to make sure there’s not a cheaper alternative? Be smart with your money!

Your son’s on the phone, and he’s got an emergency! He’s been kidnapped, arrested or put in some other jeopardy and needs money right away. Before you leap to his aid, look for red flags that show you you’re being scammed. Does he want the money sent by some untraceable means? Does he want personal information over the phone? Is he pushing the urgency of the situation and demanding you act quickly? All of these are sure signs of an emergency scam. Ask personal questions only he could answer, hang up and call him on his number. Remember: You’re most likely not helping anyone … just feeding a scammer!

You got your tax refund! It’s time to go shopping, go on vacation or take that top-flight night on the town you’ve been thinking about. Actually, indulging in a careful way is a good idea, since you won’t be so tempted later. But you’ve got options to do yourself some long-term good with that money, too. From starting or boosting your emergency fund and paying down high-interest debt to starting a college fund or investing in home improvement, you can do things that will make your life better down the road … but enjoy that night out at a great restaurant first!

If you’re looking to buy a home, it helps to know the best times to buy! Winter brings the slimmest inventory, but fewer buyers means a greater chance to negotiate for the price you want. Early spring brings the biggest inventory but the most buyers, which means  fighting the crowd to get the one you want. Summer is another slow season, and sellers could be desperate to make the deal so they can move before school starts. Pick your time to hunt … and best of luck finding your dream home!

When times are tough, the idea of saving for the future may seem out of reach, but it’s something you should be doing all the time. Savings help insulate you from crises, so start small and practice reaching goals like saving for a night out or another luxury. To help you save, look into a side hustle, trimming your expenses to the bone or even exploring what government assistance might be available. A financial counselor is a great idea to help you get perspective on what you’ve got and where you can go with it.

Go over your income and expenses, then compare them and see where the pain points are. Separate your expense categories and put a dollar amount on them. You can even use the envelope method, where you separate the money for each category. As the months go on, see which envelopes go empty and fine-tune your process.

There are great ways to have a romantic time without spending a ton. Set a budget and stick to it, and use a sales app to find the best prices on what you’ll buy. Buy flowers at a warehouse or discount store rather than online. Cook in if you can, creating a romantic dinner space anywhere you’d like in your home. If you must go out, be aware that restaurant menus are designed to trick you into spending more than you planned, so be careful! If your beloved will go for it, move your celebration back a couple days, everything will be on sale!

In the last few years, you’ve seen fees for using your credit card at a merchant become more common. From restaurants to retail, they’re everywhere, and while one fee usually doesn’t add up to much, figure them over the course of a month and it becomes alarming. These fees are legal, as long as they’re not beyond what your state allows, and the only way to get out of them is to pay with cash or debit. Your best strategy is to know your state’s swipe fee laws, be sure they’re being followed and pay with cash or debit when you can if the fees are a concern. They’re probably here to stay!

To save the biggest bucks on your shopping, pay attention to the hacks built into each store’s calendar and policies. You can save money just by knowing the best day to shop on at a store, how to get a hold of slightly “damaged” items marked down heavily, and more!

The holidays are tons of fun, but the Santa shock that comes after isn’t! To recover from holiday overwhelm, get your living space back in post-holiday order (enlist the family to help), make a plan to pay off any holiday overspending and get yourself back into some semblance of a routine.

You’re about to close on your new #home, and you get an email giving you new instructions on where to wire closing fees, or aggressively pushing a loan that’s far cheaper than the one you’ve got locked in. You’re being scammed! Here's what you need to know.

Let’s face it: You need new #furniture. The stuff you have now wouldn’t even be put on the sales floor at a secondhand place, and the coffee table is at least 50% duct tape by this point. But when to buy? Read to find out why February and August are the best months to buy, why to be cautious about buying from offshore furniture makers and when secondhand really does make sense. You might have a spiffy new couch by next football season! Oh, and be sure to use coasters on the new coffee table.

It’s holiday time, and the scams are out everywhere you turn. Let’s get one thing perfectly clear: If a deal sounds too good to be true, it probably is. Just use your usual amount of savvy and caution and you’ll stay clear of these wolves in elves’ clothing.

The numbers are in, and the amount of money Americans have lost to scams is truly appalling. Billions of dollars have been bilked, but you don’t have to join that sad list. Keep your security settings high, your passwords long, check out any new online contacts and never open attachments from unknown sources.

A variable rate can increase if the prime index rate goes up. Your lender usually limits how high your rate can get, called the ceiling rate. Under a variable rate, you may pay more interest on your loan over time compared to a fixed rate.

Interest rates on loans are at a record low, and you may be considering refinancing your car loan to qualify for a lower rate. When you refinance your original auto loan, you pay off your existing loan and replace it with a new one.

Many people are concerned that their credit score may keep them from buying the house of their dreams. In order to rest easy as you move through the home buying process, it is a smart idea to improve your credit as much as possible.

Most of us have had trouble with our finances at one time or another. Modern life requires us to have items like cars to get to work and cell phones to communicate quickly. These modern conveniences can be costly, causing problems for someone struggling to make ends meet.

As individuals and households continue to navigate the economic landscape, many are seeking ways to reduce their monthly financial obligations. One strategy that some car owners may consider is refinancing their existing auto loan.

When you use a credit card to pay for a purchase, you’re borrowing money from the financial institution that issues the credit card. You’ll repay the loan, in part or in full, at the end of the month when the bill is due.

Applying for a mortgage is a monumental step in many people’s lives. A home is likely the most expensive purchase you will ever make, so without securing a good rate and favorable terms, you can end up spending over the odds on interest and hidden expenses.

On average, Americans pump close to 392 million gallons of gasoline a day. That’s more than a gallon for every American! Each day! With fuel prices spiking, you want to make sure you’re paying for that gas in the best manner possible.

Credit unions consistently offer interest rates that are lower than those offered by banks. In fact, the most recent data shows the interest rate on an average 60-month new car loan through a bank is nearly two points higher than a similar loan taken out through a credit union.

As college costs increase, students and recent graduates may find themselves stressing about student loan repayments.

For unexpected expenses, unwieldy debt, and big investments, many people turn to banks for capital.

If you have student loan debt, you’re not alone. Many students take out both federal and private student loans to help cover the cost of education.

Student loans are a type of personal loan that allow you to invest in your human capital and pay back the cost of school later.