Directions Credit Union Blog
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Read the latest financial news, tips and education from the experts at Directions Credit Union. Directions Credit Union is a community-based organization dedicated to serving the financial needs of its members.
Directions Credit Union Blog
1M ago
Debt liability is a loaded topic with no easy outs. Your own liability for debts that your partner is bringing into the marriage will depend on several factors, but for the most part, saying “I do” does not make you accountable for your partner’s debt. Here are all your questions about debt and marriage, answered.
Am I responsible for my spouse’s credit card debt incurred before our marriage?
In almost every case, you will not be held responsible for debt your spouse has incurred before your marriage. The only exception to this rule is if you become a joint account holder after marriage. If y ..read more
Directions Credit Union Blog
2M ago
You don’t need to skimp on the wedding of your dreams or go deeply into debt to pay for it. By planning ahead, choosing wisely and prioritizing what’s truly important, you can say, “I Do,” without stressing over wedding costs.
Here’s how:
1. Time it right
Think off season and mid week, and you’ll save a bundle!
First, consider a winter wedding. You’ll shave thousands of dollars off the venue price by choosing an unusual time of year to get married. Second, think beyond Saturdays. If you can find a church with a vacancy on a Sunday, grab it! Venue prices drop dramatically with just a one ..read more
Directions Credit Union Blog
3M ago
The holidays are in the rearview, but if you’ve gone over budget with your spending, it’s time to deal with the aftermath, which is coming head-on. Here’s how you can get your budget back on track for the new year.
Review your holiday spending
How much debt did this season’s spending set you back? Spend some time crunching the numbers so you have a better idea of what kind of recovery steps you need to take.
Choose your recovery process
If you’ve got multiple credit card balances to pay off, you may want to consolidate your debt by taking out a personal/unsecured loan and then using the funds ..read more
Directions Credit Union Blog
4M ago
As 2023 draws to a close and we prepare to usher in 2024, take a moment to go through this year-end financial checklist for ensuring your finances are in order before the start of the New Year.
Review your budget
Is your monthly budget still working well for you? Are you stretching some spending categories or finishing each month in the red? Take some time to review your budget and make any necessary changes.
Top off your retirement plan
If you have a 401(k), check to see that you are taking full advantage of your employer’s matching contributions. If you haven’t contributed as much as you ca ..read more
Directions Credit Union Blog
4M ago
‘Tis the season to be jolly! Unfortunately, though, not everything about the holiday season is all happy and nice. As always, scammers are on the scene, ready to turn the joyous season into a nightmare. Here are six naughty-list scams to watch out for this holiday season.
Online shopping scams
In this classic scam, a shopper is lured into a bogus site that appears to belong to a popular retailer and proceeds to purchase an item that does not exist. Alternatively, a too-good-to-miss deal will be heavily promoted through pop-up ads and emails. In either scenario, the shopper will never receive ..read more
Directions Credit Union Blog
5M ago
Black Friday has long been hailed as the biggest shopping day of the year, but consumers are beginning to rethink that title. While there are definitely great deals to be grabbed on the day after Thanksgiving, it’s not always worth the hassle. Let’s take a look at the pros and cons of being a Black Friday shopper so you can make an informed decision.
What are the advantages of Black Friday shopping?
If you’ve been a Black Friday shopper for years, you likely already know the advantages of joining the crowds at the stores on this national shopping day. Here are some of the significant pros of ..read more
Directions Credit Union Blog
5M ago
When it comes to covering the cost of your holiday shopping, you have several choices. Let’s take a look at some options and explore the pros and cons of each so you can make an informed decision.
Credit cards
For many shoppers, the most obvious way to pay for a purchase you can’t currently cover is with a credit card. That small piece of plastic can make you feel like a wealthy shopper who can afford to buy it all without even checking the price.
Pros:
Significant purchase protection.
Convenient payment method accepted at most vendors.
No need to have all the cash available at the time of y ..read more
Directions Credit Union Blog
7M ago
Debt-collection scams exploit the feelings of helplessness and overwhelm to lure victims. Let’s take a look at these scams and how to keep yourself from falling victim.
How the scams play out
In a debt-collection scam, a scammer posing as a debt collector will call a victim to demand payment for an outstanding debt. The caller insists on a specific means of payment, usually a wire transfer or prepaid debit card. Of course, the caller is not a debt collector and any money they collect will go directly into their own pocket.
Red flags
Here’s how to recognize a debt-collection scam:
The debt co ..read more
Directions Credit Union Blog
7M ago
Student loans have undergone quite a few changes over the last few years. Backtracked statements and moving rollout dates have only made the headlines more confusing. As a borrower, though, it’s important to keep up with these changes. Here, we’ve outlined the important changes you need to know about and included steps you might need to take to benefit from these adjustments.
A brief overview of recent student loan changes
First, let’s take a look at the timeline of student loan changes of the last few years:
Mar. 2020 – Forbearance (a temporary pause) on student loans is enacted by the fede ..read more
Directions Credit Union Blog
9M ago
Hello, college, hello, money worries!
College life brings a sense of independence that extends to personal finances. Being in charge of your own money can seem like an impossible challenge, but it doesn’t have to be that way. If the thought of managing your money in college is stressing you out, dig into these tips for some help!
Create a budget
Living with a budget is a must for good financial wellness. First, track your income, including all earnings from part-time jobs, scholarships and student loans. Next, list your expenses, including tuition fees, textbooks, rent, groceries, transportat ..read more