1. Build a Budget: To lessen the risk of overspending, map out your expenses, including fixed costs like rent and utilities, variable expenses such as supplies, and one-time expenditures like equipment purchases. Remember to account for taxes and an emergency fund for the unexpected (we’ll get to that!).  Unsure where to start? Expense management software can do the heavy lifting to ensure your budgeting efforts are precise and strategic. Gain insight into your business’s financial health and use features to:  Monitor Cash Flow: Track incoming and outgoing cash to ensure you have en ..read more

What Influences Your Money Habits? Financial capability can be traced to our habits when it comes to handling money. Our money habits lay the foundation for our ability to make informed decisions, weather economic uncertainties, and achieve financial goals. Understand what influences your money habits with this informative article and webinar highlight.     A1 Credit Tool (Free Online Course) Credit scores impact nearly every aspect of our financial lives from our ability to secure housing to receiving favorable interest rates on large purchases. New to the world of credit and inte ..read more

Avoiding ID theft begins by ensuring that your private information remains private. That means sharing less on social media and maximizing the security settings of social media accounts, staying alert for phishing attacks that attempt to bait you into clicking on malicious links, and using common sense (you know, like not broadcasting your national ID number on Facebook).  During tax season, remember that tax collectors won’t call you, email you, or text you to ask for a credit card payment for overdue taxes. Scammers will do anything they can to convince their targets to reveal conf ..read more

1. Deter Don’t make it easy for a criminal to steal personal information. Try the following tips: When in doubt, shred it. Documents that contain sensitive information need to be properly disposed of. Shredding them is the best way to prevent criminals from using a technique known as dumpster diving. Dumpster divers dig through your trash hoping to find bank statements, old credit cards, voided checks, etc. Don’t just dump—destroy. Safeguard how you release personal information. Assume anything you send on the web could be read by anyone. Be aware of those around you when using the phone, a ..read more

What is an Adjustable-Rate Mortgage? An adjustable-rate mortgage (ARM) is a home loan with a variable interest rate. With an ARM, the initial interest rate is fixed for a set period. After that, the rate on the outstanding balance resets periodically, at yearly or monthly intervals. For example: a 5/1 ARM has a fixed rate for five years and then resets every year after that. A 5/6 ARM is fixed for five years and resets every six months.  Initial Affordability and Lower Interest Rates The initial lower interest rate of ARMs can provide you with a more affordable entry point into hom ..read more

Travel Comparison Shop: Last minute flight or hotel plans? Compare discount sites (like Hopper and Kayak) against airline and hotel sites which may offer promotional discounts if you book direct. You can also compare the cost of one-way tickets, which can be cheaper than round-trip fare.   Flexible Dates & Times: Flying a day earlier or later can significantly reduce the cost of your tickets. Likewise, pay attention to departure times. Early morning or red-eye takeoffs (versus afternoon flights) can trim as much as $100-$200 per ticket.   Alternate Airports: When sear ..read more

Tip 1: How to Rename Your Accounts in Online Banking 1. Login to your People First account. 2. In the My Accounts section, click on the Settings Icon. 3. On the Account Preference screen, type the name you would like in the Nickname block for any share, loan or certificate.  The change takes effect as soon as you type it.  The name you enter will be displayed in both Online and Mobile banking. Tip 2: How to Sign Up for E-Statements (Online Statements) Login to your People First account. In the navigation menu, hover on Add ..read more

Recognize Common Scams Safeguarding yourself begins with awareness. Here are some of the most prevalent student loan scams: 1. Advanced Fee: Scammers promise to reduce your loan balance or lower interest rates in exchange for an upfront fee. Legitimate loan servicers do not charge fees for federal student loan assistance. 2. Phishing: Scammers impersonate official loan servicers or government agencies through emails, websites, or phone calls, aiming to steal your personal information, including your Social Security number and financial details. 3. Forgiveness: Scammers claim to offer immediat ..read more

Build a Budget Building a budget is akin to giving yourself the gift of clarity: it allows you to track expenses, identify potential areas where you can trim spending, and allocate funds to help you achieve financial goals. Rather than seeing budgeting as a restrictive practice, frame it as a tool that grants you freedom to spend where it matters. Connect with your financial institution to see what budgeting tools they offer and check out this interactive budgeting worksheet in the meantime. Create an Emergency Fund More than half of Americans fear they wouldn’t be able to cover daily living ..read more

Verify servicer(s) As an outcome of contract transfers and terminations mid-pandemic, your servicer(s) may have changed since 2020. Translation? You’ll need to confirm who will be receiving future payments and ensure they have your updated contact information.  If you have private loans, review any correspondence you’ve received from your original loan servicer, reach out to your school’s financial aid office for help tracking that information, or visit AnnualCreditReport.com for a free weekly report that lists loans in your name.   If you have federal loans, visiting the Federa ..read more