Posts in category 'Personal Finance'

Whether buying a pack of gum at a quickie mart, financing a car, or paying for a home or a college education, most people use some form of credit daily. Credit offers a way for us to get the things we want without having to carry cash, and it allows us to buy things we might not be able to afford all at once by paying over time.

What is credit? At the most basic level, credit is a promise that you will repay any loan according to the terms of the agreement between you and a lender. 

If a friend has ever asked if they could borrow your money, you may have asked yourself whether they could pay you back. Lenders ask themselves similar questions and have devised a system to rate the likelihood that people will repay their debts. This system consists of credit reports and credit scores.

If you're a homeowner who has heard the phrase 'home equity' but only kinda sorta knows how it works, you're not alone … and you're likely not capitalizing on your home's potential. Equity is powerful — it can help you fund your next major milestone, consolidate debt, and sidestep financial emergencies. But only if you know how to use it.

Here's everything you need to know about your home's equity, and more importantly, how to use it to your advantage.

Home Equity at a Glance

Home equity is the money you'd make from selling your house after paying any debts. It's essentially the part of your home's value that you've already...

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Your mindset about money is just as important as having the right financial tools and strategies. Your beliefs, attitudes, and habits shape your financial success. Shifting to a money-smart mindset means adjusting your thinking and behaviors to align with your financial goals and values.

Here are some strategies to help you cultivate a money-smart mindset:

Strategy 1: Define Your Financial Goals and Values

Clarifying what you want to achieve with your money is the first step to financial success. What are your short-term and long-term financial goals? What values do you want your money to support?

Some examples of financial goals might include:

• Building an emergency fund with 3-6 months of living expenses.
• Paying off c...

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Money management is an essential skill, and learning it as a teen can set you up for a lifetime of financial success. Whether you're tracking your spending, budgeting for future goals, or building your credit, every financial choice helps shape your future. Thanks to our partners at Idaho Central Credit Union (ICCU), we're sharing key tips from their Money Guide for Teens to help young individuals develop smart spending habits.

Where Does Your Money Go?

Managing money starts with understanding your spending habits. The ICCU mobile app makes it easy to track your finances anytime, anywhere. From setting up a budget to establishing goals, these tools empower you to take control of your financial future.

Smart Spending

Kn...

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As the holiday shopping continues, amazing deals are all around us. Without a good game plan, however, you could be missing out on making the most of your holiday savings.

Come up with a strategy

Plan out your purchases before you start shopping. It's easy to get carried away in the frenzy of low prices. Deciding what you want ahead of time will save you from impulse buying. Check out the store's ads and come up with a list of the items you want to purchase.  Make sure to look at the fine print, many deeply discounted items are only available "in-store."

Know your purchases

Just because something is discounted, doesn't mean it's actually a good deal.  Many retailers will hike prices up and then mark them down.  Do s...

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