It's tax time! Whether you are getting a tax return to add to your "mason jar of money" or not, tax season can be one of tension. To help keep stress levels low, here are three tips as you prepare to get those taxes filed. 1. Preparation is key! Keep good records all year long and make sure you have all the documents you need BEFORE you sit down to file. Whether your tax documents are mailed to you or e-delivered, make sure you have everything you need. Having to stop mid-process to find that one tax form you could have sworn you put right on top of that pile will only cause panic and delay the process. 2. Know your deductions! Even if you are using a tax professional, do some of your own research on deductions/credits that you and your family may qualify for to get the most money back! Honor's website has a list of quick links to help you with this. 3. Take advantage of your resources! If you are planning on preparing your taxes yourself, take advantage of programs like TurboTax that will walk you through the steps. (By the way...you can find a discount to TurboTax on Honor's website!) If you are having someone help you file your taxes, make sure they are qualified! The IRS suggests that you confirm your tax preparer has a "Preparer Tax Identification Number" and enters it on your return filed with the IRS. Filing your taxes isn't anything that should scare you, and by following the tips above you can make sure you are ready! Listen to the full Mason Jar Monday episode on a stress free tax file below!
Comment on this post, or follow us on twitter @honorcu and use #askhonorcu to get involved! You can also comment with the topic you want to see discussed next week! It's your money, and we want to talk about things you care about!
Do you know the difference in the many types of credit cards out there? If you are going to use a credit card, there are a few key things you should know to help you choose the right one. 1. Not all credit cards are the same! Just because two different cards both say "Visa" doesn't mean they are identical. In Visa's example, they are computer system that allows for the processing, but not the issuer that sets the card and payment details. In other words, with your Honor Credit Union Visa, Honor is the issuer. When Honor says that they have an interest rate as low as 9.99% APR*, that is an interest rate offer from HONOR, not from VISA. 2. Read the fine print! Make sure that you know the specific details of the credit card you choose to go with. Those tempting 0% interest rate offers are great, as long as you stick to the issuers payment schedule and terms. Often times, that interest rate will drastically increase if you pay late or don't pay the balance off completely by a certain date. 3. Local cards = local service! Just like all cards are not the same, all cards are not serviced the same. When you get a credit card at a big store, it is not typically that big store that will help you if there is an issue. When you call the customer service line on some of those national cards, who knows where the person (if it's even a real person) is located! When you get a credit card at your local credit union, though, it is your local credit union that will take care of all service needs. For example, if you have an issue or question with your Honor Visa card, you call Honor and we will be able take care of you.
Want to hear the full Mason Jar Monday episode on "Credit Card 101?" You can listen to the full recording below!
Comment on this post, or follow us on twitter (@honorcu) and use #askhonorcu to get involved! You can also comment with the topic you want to see discussed next week! It's your money, and we want to talk about things you care about! *Click here for Honor Credit Union's full disclosure
Part of managing your money smart, is spending it smart. Whether you are shopping for your first car or are looking for a vehicle upgrade, getting pre-approved before you head out to the dealerships will help you borrow smart. Here are a couple key reasons why you should head to your credit union to get pre-approved before shopping:
Find out what you can afford vs. what you want! Once you are already at the dealership or car lot and that shiny, new, fuel efficient car is just screaming your name, you need to know exactly what you can afford. By stopping in to your credit union to get pre-approved first, you will arrive at the dealership knowing what monthly payment, interest rate, and top dollar is realistic for you. That knowledge will make it easier to sort through all of the tempting "deals" that you will be offered to test drive.
Shop with confidence! Knowledge is king, and being armed with all of the information that getting pre-approved will give you will allow you to walk onto a car lot with confidence. Utilizing payment calculators, like the one on Honor's website, will let you know what financial situation you would be looking at for each vehicle you like.
Minimize buyer's remorse! Getting pre-approved will help you get into a loan option that best fits your needs from the beginning. Understanding your options and choosing the one that best fits you will help you avoid the purchase regret that you might of faced otherwise.
The best loan is a paid off loan! That is the motto that we live by, and getting pre-approved before you head out shopping will help you make the most out of your money! You can listen to the most recent Mason Jar Monday on the importance of getting pre-approved here.
Comment on this post, or follow us on twitter (@honorcu) and use #askhonorcu to get involved! You can also comment with the topic you want to see discussed next week! It's your money, and we want to talk about things you care about!
It's your money, and we want to help keep it safe! As technology continues to advance, along with the benefits of it come increased risk of fraud. Here are five tips to help keep your money safe: 1. Participate with your money! Paying attention is one of the easiest methods to keeping your money safe from fraud. Utilizing online banking, mobile apps, and text alerts, just to name a few, can give you a virtually 24/7 view of your accounts! 2. Look at your credit report! We know you all have seen one of the many commercials prompting you to look at your credit report! Well, we are making it easy. You get one free credit report a year, and from Honor's website you can get to it in a few clicks. Keeping up with your credit report can help you stay on top of anything out of the ordinary before it's too late. 3. Recognize scams! Rule of thumb - if it sounds too good to be true, it probably is! Emails asking for your personal account information are more often than not a scam. Honor will never send you an email or text asking you to confirm any passwords or account information. 4. Stay informed! Keep up to date on the latest scams. By staying educated on the fraud that is currently happening, you can stay a step ahead. Now we understand you aren't going to stay glued to the news waiting to hear about the latest fraud cases, but when a headline does come up read it. We've also put together a resource summarizing recent fraud alerts to help you stay in the know! 5. Protect your computer! Are you one of the over 70% of consumers that prefers browsing your computer instead of battling a crowd for that great deal? Technology isn't going away, so protecting yourself while you take advantage of the convenience it brings is crucial. Make sure your computer has a solid virus protection software installed. Security software that updates automatically will also make sure your protection doesn't expire leaving your information vulnerable. Check out the full Mason Jar Monday show on protecting yourself from fraud below, and let us know what you think! Comment on this post, or follow us on twitter (@honorcu) and use #askhonorcu to get involved! You can also comment with the topic you want to see discussed next week! It's your money, and we want to talk about things you care about!
