Valentine’s Day 2015
netted a whopping 18.9 BILLION dollars! Whether you think that’s crazy or not,
odds are you probably contributed to a bit of that spend in one way or
another.Did you treat your loved one,
your best friend, your dog, or yourself last year?If the answer is yes, and you are planning on
doing something special again this year consider these ideas to treat your
valentine without breaking the bank:
·Giving flowers?Not surprising, the largest
chunk of change spent on Valentine’s Day is on flowers.Get the most value from the petals you choose
by selecting a less popular bloom.Roses
are beautiful, but choosing a more unusual but still beautiful flower on Valentine
’s Day can save you big.Make sure you
inspect whichever flowers you choose for stale or less than energized petals to
get the most out of the bouquet you give after the holiday passes.
·Cook Your Fancy Feast At Home – One of the biggest areas that you can save not only on
Valentine’s Day, but every other weekend too is as easy as getting creative in
the kitchen.Make your Valentine’s
favorite meal together and enjoy a meal together in the comfort of your own
home.Switch it up from any other dinner
by taking your feast to the living room or another room out of the ordinary to
make the evening feel more special!
·Pampering your pooch? Try homemade treats instead! Don’t forget
your furry family members this Valentine’s day!If you want to show your family pet some love on a budget this
Valentine’s Day, try some homemade treats in their favorite flavor.
How else are
you saving pennies this Valentine’s Day?Let us know!Don’t forget to
follow us on twitter @honorcu and let us know what you want to hear about next
week using #askhonorcu!
Every
year, it seems more people are spending much more money on gifts, holiday
décor, holiday meals, and the like. Even
if you’re normally perfectly sensible about money, the holiday season can send
us all into a spending frenzy! But
it doesn’t have to be that way- Christmas can be just as special without all
the spending of money. Here
are some tips to make your season merry and bright, without handing over cash!
Spend
time instead- Make all homemade ornaments and
decorations & decorate with the kids, have a home-based wine and dine with friends, or just relax at home with Christmas movies and snacks!
Have
a potluck Christmas dinner- Invite friends and family over for a
big feast, but have each person bring a
traditional Christmas dish. You never know how many yummy family recipes are out there until you have a good ol' fashioned potluck!
Buy
experiences for people instead of traditional presents- Buy gift cards for experiences like movie theaters, children’s museums,
snow mountain passes, indoor sports, etc. Making memories through fun experiences can be much more valuable than another pair of socks any day!
Don’t let
the holidays deplete your savings account- Buy or make meaningful, inexpensive
gifts as presents, and remember- Time spent together, enjoying each other’s
company is the best kind of spending!
Don’t forget
to follow us on twitter @honorcu and let us know what you want to hear about
next week using #askhonorcu!
Let’s face it – Holiday meals like the
recent Thanksgiving get together you might have just had means a LOT of
leftovers. Most everyone makes far more food than they’ll need, then eats the
leftovers throughout the next few days and freeze whatever is left over from
the leftovers! This is much better than wasting food by throwing it away. But,
there’s just one little issue. Even though it’s yummy leftovers are still
leftovers. That turkey and stuffing was probably an awesome meal the first
night or two, but after a couple of days, the last thing you want is another
plate of reheated turkey and mashed potatoes. So, here are a few ways you can
use leftovers from either Thanksgiving or any of the upcoming Holiday get
togethers you might have on your calendar:
·Transform your turkey. Turkey is so easy to
make into other meals! Use it as a chicken substitute for practically any meal
you’ll make throughout the week. Turkey pot pie, turkey soup, turkey
alfredo…the list is endless!
·Make magic with your mashed potatoes.
Mashed potatoes are just as easy as turkey to make into a plethora of different
meals. Potato pancakes, shepherd’s pie, fry them up for a breakfast side dish,
etc.
·Pick apart that Pumpkin pie. Turn that
leftover pie into- gasp!- breakfast! Check out this easy Pumpkin Pie Breakfast
Casserole recipe! Or, what could be better than pumpkin pie? Bite-size pumpkin pie! Chop
the leftovers up into bite-size pieces and keep in a dish in the fridge.
Don’t let your leftovers bore you to death
then go to waste!After all, throwing
away leftovers is like throwing away money…and that is definitely not what
Mason Jar Monday’s are all about! Use them up smartly, and you can save your
money by NOT ordering that take-out pizza!
And, don’t forget to follow Honor on Twitter
@honorcu!Tweet us and let us know what
you want to hear us talk about on Mason Jar Monday next week using #askhonorcu!
To listen to Y-Country's Mark Durocher and Honor Credit Union's Scott McFarland talk about Thanksgiving leftovers, click on the Mason Jar Monday episode below!
In today’s world, gone are the days of paper and pencil
budgets. Now, all you have to do to keep track of your personal finances are an
app or two downloaded onto your smartphone. According to Benzinga.com, here are
the top five personal finance apps and what they can do for you.
1.Money Destop-(within Honor CU app)
integrates multiple accounts (including bank, credit, loan and
retirement accounts) into one place, provides trending information and can
document budgeting plans.
a.Positives:
Free, suggests financial institutions with higher savings rates, credit
cards
with lower interest rates, provides graphics and saving alternatives, provides
free credit
score,
allows manual input of cash transactions.
b.Negatives: what
negatives? J
2.Honor CU Mobile Banking-
check balances perform transfers and much more. Just go to our site and click
on the It’s
Me 24/7 Online Banking logo. You’re also able to check out any
information on our website with Mobile Banking, giving you access to not only
your account but information on Honor’s other products and services
whenever/wherever you want!
a.Positives:
Free, low rates, can deposit checks without going to the bank, see all
information about your account, apply for loans, etc.
b.Negatives: what
negatives? J
3.BillGuard -
pulls all your credit/debit transactions and sends you alerts of potential
fraudulent charges. It also alerts you if a retailer experiences a data breach
and if you shopped at that merchant during the breach period.
a.Positives:
Free, can flag and dispute charges through the app, evaluates your spending
habits and finds relevant coupons.
b.Negatives: Is
best used in tandem with another app because it only focuses on transactions
and threats vs. being a comprehensive personal finance aide
4.Personal Capital-
tracks investments by account or asset class, and allows you to compare your
portfolio to major indices. The app offers investment checkups and 401(k) and
mutual-fund fee calculators.
a.Positives:Free, offers a unique view for investors
while still providing information on basic personal finance.
b.Negatives:
While it is a top-notch security function, the app is a "read-only
service" and does not allow for funds to be moved within the app.
5.Better Haves: Designed for couples as an accountability spending
and budgeting system. Virtual envelopes are filled with money and as spending
occurs. it keeps expenses organized and easily tracked.
a.Positives: Free,
has the ability for multiple people to view the same information from different
devices, provides real time updates. The envelope system sends reminders to
both users when envelops are getting low and spending in that area needs to be
more closely monitored.
b.Negatives:
Still fairly new and has a few minor kinks that need to be tweaked. Involves a
lot of interaction with the app.
6.Shoeboxed-
provides a way to easily keep up with cash spending in addition to credit/debit
card spending. Based on pictures of your receipts, Shoeboxed collects and
organizes spending habits.
a.Positives:
Creates shareable expense reports, broad range of import and export methods
including pictures, email, and scanning.
b.Negatives:
Not updated in real time. Because everything is verified as accurate by a
Shoebox team member, each receipt can take up to an hour to become live in the
app.
c.Cost
options-DIY: Free; Lite: $9.95/month after free trial; Classic: $29.95/month
after free trial; Business: $49.95/month after free trial; Executive:
$99.95/month after free trial.
Don’t forget to follow Honor
on Twitter @honorcu!Tweet us and let us
know what you want to hear us talk about on Mason Jar Monday next week using
#askhonorcu!
To hear 97.5 Y Country's Mark Durocher & Honor Credit Union's Scott McFarland talk about personal finance apps, click on the Mason Jar Monday episode below!
Guest Writer: Greg Hildebrand
– Honor Financial Group Financial Representative
The decision to trust someone with your hard earned money is very
personal.And since you’re basically
hiring someone to provide expertise that you don’t have, it can be tough to
sort out the good expertise form the fluff.
Whether you’re looking for a financial advisor on your own, or are
referred by a loving uncle, consider these tips before you begin your
relationship.
·Customization – Your
needs are unique and your investment strategy should be too!Make sure your advisor takes the time to
understand your personal goals in order to recommend a customized plan.
·Compensation –
Consider an advisor who charges a fee for services rather than commission-only
sales from stocks, insurance, or other types of investments.This helps ensure that they are working to
grow your investments not profiting primarily from sales.
·Experience – While
it’s a good rule of thumb to look for at least three years of experience
working as a financial advisor, be sure to ask what type of investing your
advisor is most experienced in to ensure it is a good match for your goals.
·Investment
Approach – Every investor is unique.So
make sure your advisor’s investing philosophy isn’t too conservative or too
aggressive for your investing style.
·Accessibility –
Regardless of how much you have to invest, your financial advisor should be
working with your best interests in mind.Whether you prefer to meet monthly, quarterly, or even yearly to discuss
your portfolio, if you have questions your advisor should always be available
to give you answers.
If you have questions and would like to meet with a financial advisor,
Honor Financial Group is a great first step.Give us a call to set up an appointment today.And, don’t forget to follow Honor on Twitter
@honorcu!Tweet us and let us know what
you want to hear us talk about on Mason Jar Monday next week using #askhonorcu!
Securities offered through LPL Financial, member
FINRA/SIPC. Insurance products offered through LPL Financial or its licensed
affiliates.
With food costs rising and falling and rising again, it’s hard to stick
to a budget and save a few dollars at the grocery store. Not to mention the
hassle of looking for the best bang for your buck! Here are a few simple tips
to follow that will help you stay on the right financial track when it’s time
to load your cart.
1.Don’t shop when you’re hungry - You’ve
heard it before, you’ve heard it a thousand times. If you grocery shop on an
empty stomach, chances are you’ll end up with a lot more in your cart than
what’s on your list and in your wallet. Plan out your shopping trip and go
after you’ve had a satisfying meal at home. You’ll be able to concentrate on
your shopping and be able to differentiate between needs and wants easier.
2.Don’t shop on a time limit - If
you’re crunched for time when you stop to shop, you’ll end up grabbing the
first product you see with the label “spaghetti sauce” on it, rather than
looking at all of the brands of sauce and choosing the better deal. If you have
less time to check all of the brands and prices, you’ll most likely spend a lot
more than you anticipated.
3.Make a list - Before you go to the
store, make a clear and concise list of everything that you NEED. Don’t put
down that Ben & Jerry’s ice cream you’ve been thinking about all day-
unless you plan it into your budget. Temptations for buyers are everywhere at
the grocery store. Avoid them with a specific list.
Saving while will truly bring a long list of benefits in your life. Just
like any other changes, this can be a monumental challenge and oftentimes, you
won’t realize its importance until you see it clearly i.e. the savings building
in your credit union account!
Don’t
forget to follow Honor on Twitter @honorcu!Tweet us and let us know what you want to hear us talk about on Mason
Jar Monday next week using #askhonorcu!
To listen to 97.5 Y-Country’s Wild Bill and Honor’s Kaylee Williams talk about saving at the supermarket, listen to the Mason Jar Monday episode below.
How far away is retirement for you? 10 years? 30? 40?
Even if retirement isn’t for another 50 years for you, there are plenty of
reasons to start saving up for your golden years as early as possible.
You can reach retirement sooner: If you begin saving for retirement at 16 when you get your first job, putting away $2,000 a year for just 40 years, you could have around $560,000, assuming earnings grow at 8 percent annually. And that's a heck of a lot more than you would have if you weren't saving anything at all. When you're young, you can invest relatively little for a short period and wind up with far more money than someone older who saves much more over a longer period. Seems like a no-brainer, right? Save a little now and reap big rewards later
Avoid Procrastination & be financially secure in old age: Start saving ASAP. There are plenty of ways to get yourself in the habit. If your job offers a 401(k), sign up. If you don’t have a company retirement fund, use a Roth IRA instead. Be aggressive with your investments, and put 90 percent of your investments in stocks; Stocks are interchangeably referred to as equities, since as a stockholder you own a slice of the company's value in the market, its equity.
More money = More time for the things you want to do and buy: Begin putting automatic deposits into an emergency fund, then you’ll always have a cushion for when things come up. You’ll never have to dip into your retirement savings to cover those unexpected expenses.
Remember, you should start your retirement savings right this second. If you
contribute $100 a month, appreciating at 10% a year, you' could have over half a
million dollars after forty years. Your most valuable asset is time, so make sure you
use it.
To
listen to 97.5 Y-Country’s Wild Bill and Honor’s CEO Scott McFarland talk about saving for retirement early, listen to the Mason Jar Monday episode below!
There are
literally thousands of apps available for download (and a lot of them are
free!) on smartphones or tablets. A lot
of them help us do a lot of useful things, like pass the time beating every
level of Angry Birds or dominating your friends in Words With Friends. As fun as apps like that are, there are quite a few other apps that can do something even more powerful…they can help you save money! Here are three types of apps* that you need to
check out -
1. Retailer’s
Apps – Instead of keeping all those junk emails with coupons, or actually using
scissors to physically cut coupons out keep them all at the swipe of your
finger! So many retailers have their own
app that will let you select your main location and will even push coupons to
your phone and notify you when they are available and when they are about to
expire so you don’t miss out on any savings!
2. Gift Card
Apps – I can’t count the times that I have been searching through my wallet or
purse looking for that gift card I just KNOW I have in there somewhere to
finally give up and end up paying with cash or credit because there’s a line
behind me. Save the room in your wallet
and stop missing out on gift card balances by keeping them in your phone! The app holds the balance, so even if you
break or lose your phone (gasp!) you won’t miss out on the money you had left
on the gift card because it’s stored in the app!
3. Honor MobileApp (last but certainly not least!) – Gone are the days when you could only
access your account inside your local credit union branch. Honor’s gone mobile, and a lot of other
financial institutions have to! Having
your account at your fingertips via your smart phone or tablet will allow you
to keep better tabs on your account balance and your spending. Plus, through Honor’s app, you have access to
features that the website doesn’t offer – like mobile deposit that lets you
deposit checks without having to come into the branch! New features are on the way, too like P2P and
Apple Pay!
Honor's Kaylee stopped in to chat with 97.5 Y-Country's Wild Bill about her favorite apps to help you save money in this week's Mason Jar Monday!
Don’t forget
to follow us on twitter @honorcu and let us know what you want to hear about
next week using #askhonorcu!
I think that
we can all agree that at times, we are our own worst enemy. Don’t let that be the case when it comes time
to starting to build your savings! With
these life hacks to trick yourself into saving more money, your savings will
start building before your eyes!
1. It’s all
about physics – that topic you covered in high school science called inertia
can work to your benefit with savings, too!
Set your plan in motion using automated tools that take the thinking out
of it and watch your savings continue to roll and move all on its own! When you add the manual aspect of
transferring money into your savings every month, the consistency can start to
slack which is the opposite of what you want to happen. One really great tool that Honor has to make
this part a piece of cake are “It’s Your Change” where every purchase you make
gets rounded up to the next dollar and that change automatically put into your
savings! We can also set up an automatic
transfer from your direct deposit into your savings so you don’t even have to
think about it.
2. Keep looking
ahead – goals, goals, goals is what it’s all about. Keep your sight set on the future and the
goals that you set for yourself and it will make those thinner months where you
really, really want to dip into that savings easier to avoid. If you’re a visual person, post a picture of
your dream state (whether that’s your ideal retirement destination, your next
vacation spot, or that new car) on the fridge or someplace you will see it
every day.
3. Get a raise?
Use it wisely – Don’t slip into the pitfall of a spending spree with
that next
raise or bonus! Redirect that addition
to your monthly income directly into your savings and keep your budget the
same, almost like you’re pretending you never got the raise to begin with. This may sound weird, but the direct raise
you will be giving your savings every month will really add up!
HINT!! – There may be a giveaway coming up
this week! If you want included in the
fun (and a shot at $50!) be sure to keep up with Honor on Twitter @honorcu!
Listen to Honor's Scott and 97.5 Y-Country's Wild Bill talk about their tips to trick yourself into saving on this week's Mason Jar Monday!
Preparing to
get back into the school year routine is a great opportunity to get your
youngster into other great routines too.
Kids are never too young to start saving, but often it’s easier said
than done. Here are three ways you can
get your kids excited about saving.
1. Set goals
with your child – whether you are giving $5/week for good chores completed or
$1/week, showing your child how that amount can add up to something is
important.Give them a goal of a certain
amount saved with an incentive.You know
your child the best, so set a goal that will speak to them. Maybe it’s ice
cream or maybe it’s a new pair of shoes, whatever will get them excited!
2. Get Visual –
once you’ve set a goal, get a visual tracker that your child can easily
understand.Maybe it’s a giant
thermometer that will let them see how close they get.This will also help solidify the idea of
small amounts all adding up to a larger amount over time.
3. Student
Credit Unions – if your child’s school has a student credit union, this can be
a great way to get them to continue thinking about saving when they’re not at
home, too.Honor has 13 student credit
unions in local elementary and middle schools right now that make saving fun
and exciting for kids of all ages.
What other
ways do you get your child excited about saving? Let us know on twitter @honorcu using
#askhonorcu
Listen to the Mason Jar Monday about fun ways to get your kids excited about saving money from 97.5 Y-Country below!
Do you have
a summer project planned out? Many of
you probably do, and for some it may be that brand new deck to complete your backyard. After all, it was a long winter, so you need
somewhere to kick your feet up and relax outside! Well, building that deck doesn't have to
break the budget. Here are three tips to
get you started:
Make a
plan!There are some great free resources
to help you plan for the perfect deck for your backyard, even down to the
material list.The “Deck Designer” tool
on Lowe's website is a great and easy to use example of this, and there are many,
many more available online.
Shop
smarter! Once you know your materials, shop smarter!Pay attention to sales and coupons.If you have an idea of where you think you
will purchase your supplies, sign up for that store’s email list so you’re the
first to hear about coupons and sales! Compare stores and prices to get the
best deal.Lumber stores often offer a
buy in bulk discount on material, so going prepared and getting everything you
need the first time can literally pay off.
Measure
twice, cut once!This may sound like a
no-brainer, but there is nothing worse than spending money on material only to ruin
it and have to replace it.Take your
time when laying out your plan, and if you need help ask!If you’re not particularly handy with a saw,
it may be better to pay someone to help you or do the install than to attempt
it and have to spend more money in replacement material.
If you’ve
done the planning and are ready to add your own deck but are wondering how to
pay for it, consider an Honor Home Equity option! A home equity loan might be the solution to
your new backyard oasis!
What other summer
projects are on your list this summer? Follow Honor Credit Union on twitter @honorcu and let us know using #askhonorcu!
It’s cookout
season! As you prepare for your next
family barbecue, a trip to the grocery store is most likely going to be
needed. Keep more coins in your Mason
Jar with these tips on spotting the best deal at the grocery store!
Look at more
than just eye-level.Shelf space and
placement is a hot commodity in stores.The eye-level items may not be the best priced, but rather the company
that paid the most for that shelf space.Look high and low on the shelf for other options of the same item.
Take a second
look at the generic brand.Now there
might be items that your family isn’t willing to go generic on, but many times
the generic brand (like Meijer or Spartan) is just as tasty if not better for
less than ½ the cost!
Bulk is not
always better.Look at the price and
total quantity of the per pound option vs the bulk before assuming the bulk is
better.Often times bulk is exactly the
same cost per unit.If your family
really really loves that item and would have no issue eating it before it
spoils, then bulk may be the way to go, but not always. There’s nothing worse
than thinking you got a great deal, to end up throwing half of it away because
it went bad in the back of the pantry.
Read your
coupons carefully.Some coupons are the
golden ticket and save you tons, and then some don’t end up saving you that
much at all.If a coupon requires you to
buy 10 of the item to get the discount then you could run into the bulk isn’t
always better issue.Or sometimes a
coupon on a brand name item still makes the item more expensive then the
generic substitute!
What other
ways is your family being smart with their coins this summer? Follow Honor Credit Union on twitter @honorcu and let us know using #askhonorcu!
Listen to Scott & Wild Bill talk about their tips for grocery shopping in this week's Mason Jar Monday!
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!
