Achieving Your Summer Bucket List

The summer bucket list: for some, it includes making your own ice cream and swimming in the dark. As we grow older, our summer goals tend to become more narrowly focused and, unfortunately, more expensive. We want to help you complete your summer bucket list, no matter how big your dreams may be! Just to help you get the ball rolling, here are a few ideas:

Vacations

Summer is a popular time to take the family on a vacation. Minnesota is the perfect state to invest in a vacation property, given our wide range of opportunity for lakefront housing. Many choose to leave the state (or even the country) each summer for a relaxing getaway. Take your loved ones on a road trip around the country or destination of your choice. If you’re more of a homebody, there are still plenty of great Minnesota-based vacation options.

Boating

The land of 10,000 lakes means 10,000 reasons to invest in a watercraft vehicle. Even if you are just using it on the lake over the weekend, investing in a boat will give you many more opportunities for summer adventures. Already have a boat? Make this summer the year to upgrade to something a little more powerful or something with a bit more space, then you can stop staring enviously at your neighbor with the new 30-foot pontoon. Add some high-quality tubing accessories onto your bucket list, and invite a few friends for a day of summer fun that will be the envy of everyone else on the lake.

Summer Home Improvements

Every homeowner has plans to build a gazebo, make landscaping changes, or make energy efficient changes to the house. The list of ideas goes on and on! Somehow, thoughts of these plans almost always end with one word: someday. Summer is the perfect time to make these changes in your home. You can also make a few necessary investments during the summer that can save you money in the winter. Need to fill up your LP tank this winter? Many times, you can get reduced prices in the summertime. Thinking of switching your heating to a wood-burning stove? Make plans now- why wait until the cold hits?

Put in a Pool!

Clark Griswold wanted to use his christmas bonus to build his family a pool, and we all know how well that turned out for him. Pools (especially in-ground) can be an extravagant expense to some, but the equity it adds to your home can end up paying for a big chunk. Let’s be honest, you’re lucky if those inflatable options you purchase at big box stores last longer than one summer. Give yourself a summertime treat that will not only improve your kids’ opinion of you, but also the value of your home!

Whatever may be on your summer bucket list, Financial One Credit Union can help. With low rates and easy payment options, completing your summer bucket list is easier than you may think. Check out our flexible loan options to see for yourself!

Financial Literacy Month

April is Financial Literacy Month! “What does that mean to me?” you may ask. Well, it means it is a time to increase your financial knowledge and to work to understand your behaviors when it comes to your finances. Here are some tips to help you create financial literacy and independence.   

Educate Yourself Early  

Establishing and maintaining healthy and strong financial habits as early as you can (not as the result of major financial disaster) will help you go far in the long run. The foundation of financial literacy includes knowing how to save efficiently, establishing an excellent credit score, learning how to budget, and understanding your financial behavior in order to continually better it. Staying literate means consistently checking your bank balance, debt levels, and behavior.

 

Understand Behavior  

Stick to a budget. Research before you buy. Have an emergency savings fund. Use coupons. While all these tips are important to follow, it’s important for your financial literacy that you understand your financial behavior.  A good way to analyze your own finances is to track your spending. An easy way to do this is to keep spreadsheets of what you spend money on and how often you spend. Also, work to understand your relationship with money: what triggers your spending, and what helps you to control your urge to spend.   

What You Should Save  

The concept of building your savings is exceptionally important. Use the 50-20-30 rule. This means separate your monthly budget as follows: 50 percent of your monthly earnings goes toward essentials (mortgage, rent, groceries), 30 percent goes toward your lifestyle spending, and 20 percent goes towards your financial priorities (debt repayments, retirement contributions, and your savings). You may find a need to tweak the ratio of the 50-20-30 rule, depending on your personal situation, but allocating and understanding where every part of your paycheck goes is extremely important.     

Know The Meaning of Financial Independence Being independent and financially literate before you bring another person into the picture is important to protecting your financial identity. Getting married or deciding to share mutual accounts means combining two financial personalities and habits. Create transparency with your partner by asking questions such as: how much debt are you bringing into the relationship, and how do you approach your finances. Whatever your individual histories are, make sure you have the financial literacy conversation with your partner before committing.   

If you are looking to bring kids into the picture, be the role model for their future good financial habits by showing, not telling as you go. Let your kids help look for deals at the grocery store. Have a clear change jar in the living room that they can see on a regular basis. Let them earn an allowance with hard work. Help them save for a new bike or their first car. All these behaviors will help them be financially literate early in their life as well as help to hold you accountable for your own habits.

   

Being financially literate will help you make the most of your spending habits and will help you reach your financial goals. Remember, you are in control. Manage your money, don’t let it manage you!

Tips When Buying A Used Car

Buying a used car can save you a ton of money on your next vehicle. But with that comes risk as well. Minimize your risk by taking a look at these 5 easy steps on how to locate, price and negotiate.

Build a List of Cars You Want 

Avoid going into the process with only one car in mind. Put together a list of 3-5 makes and models that have you interested. Remain flexible, and you will have the best chance to find value in your price range.

Check the History of the Vehicle 

By using the vehicle identification number (VIN) and license plate, you can access history reports about any car you would like. These reports often have information that is crucial to the buying process. If the report is negative, try looking for a completely different vehicle.

Give it a Test Drive 

Trying out the car in person is your best bet to seeing if it is in good condition. It’s also your chance to see if it fits you right. Is it easy to get in and out? Is there enough room? How about the visibility? These are all vital to the final purchase of the vehicle

Negotiate, Negotiate, Negotiate 

People usually tense up when it comes to negotiation. Head into the conversation relaxed and make sure you are comfortable with the seller. Start with a low offer, but make sure it’s not too outrageous. Make sure you know exactly how high you will go before talks begin. Be patient, but never be afraid to walk out.

Close the Deal 

Before you make the final purchase, keep in mind that you have just bought a used car “as is”. That means there are no promises or guarantees after the sale is finished. After you have completed the purchase make sure the old owner has transferred title and registration to you. Also, make sure you update your insurance policy as soon as possible.

Team up with Financial One Credit Union to get a great interest rate and repayment options on your next used car loan! We provide helpful, member-focused service throughout the entire process.

Wherever you are, wherever you're going, we're here to get you there!

Making and Saving Money While Going to School

The best part about starting college? Newfound independence. One of the worst parts about

college? Feeling as if you never have any money.

With all the freedom of college comes the new responsibility of adulthood which is why it’s important to start practicing healthy financial habits of making and spending money. There are plenty of ways to do this without sacrificing study time or missing out a great college experience.

Online Habits Can Make You Money

Believe it or not, the time you spend procrastinating on Facebook, Twitter, and Instagram can earn you money and give you valuable writing experience. In fact, you could potentially earn $100 a month acting as a social media expert by hiring yourself out writing Facebook posts, Tweets, and blog posts for companies in need of social content. Or, with time and dedication, you can earn money by producing your own blog, although it may take a few years to develop your own personal brand.

Get Creative With Your Own Talents

Love knitting? Photography? Are you talented at transforming old thrift store finds into something new and wonderful? You’d be surprised at how selling your creation on sites like Etsy, Ebay, and Craigslist or at local craft shows can make you some quick cash!

Tutor

Are you a music student? Majoring in Chemistry? Or Latin perhaps? Offer lessons to other students or to the local community. This way, you get to make some dough while teaching others to do something you love and are already skilled in.

Purge

Being a student often means having limited space in a small dorm. It also means moving around a great deal. Why hold on to a bunch of things you don’t really need when you can sell them for much-needed cash? Secondhand shops typically accept gently used clothes for money or for store credit. Online sites like Amazon and Chegg often give you better deals on old textbooks than campus bookstores. Many colleges even have community Facebook groups where you can swap anything from last semester’s textbooks to old futons with other students on campus.

Part-time Jobs and Side Gigs

No job is too small. The same jobs you held in high school can still earn you money now; don’t overlook them. A part-time retail or restaurant job can bring in some cash and help you build character and discipline. Also, make sure to check out your campus’ work study options and research group opportunities for money.

Save Money, Stay Healthy

Craving a little physical activity? Take advantage of your campus athletic facility. Many Health/Fitness majors teach classes at part of an academic requirement, so consider learning from with your peers. If organized team sports are more your thing, join an intramural. Reluctant to leave your dorm? You can even stream many workouts on YouTube for free.

Affordable Entertainment

With access to thousands of shows, movie, and documentaries for free or for less than $10 a month though Netflix, Hulu, and soon HBOgo, paying for monthly cable and satellite fees make less and less sense. You can even split the cost of a subscription with your roommates to cut down even more on fees.

Track What You Spend

Free phone apps like Mint and Level Money help you keep tabs on what you spend at the grocery store, the mall, and restaurants. They make it nearly impossible for you to question where your money goes every month.

Learn How to Budget

It is never too soon to build a savings account or learn how to budget your income. Any money you receive from your parents, financial aid, and your job can be used for your savings. Figure out how much you should put towards your cell phone bill, towards going out, or towards your student loans every month. Setting these priorities now will help you build a stable financial future.

So there you have it - some solid, collegiate building blocks to set you on the right path. Have a particular strategy that helps you save your pennies? Leave us a comment and tell us about it!

Holiday Spending Trends: How to Prepare

The Holiday season is great for a lot of reasons: family, friends, religious gatherings, parties, good food, etc. However, the most constant and encompassing thing during the Holiday season shopping. Yes, Holiday shopping- the monster that is here to stay. Whether or not you believe in giving gifts during the Holiday season, the fact is you cannot avoid the shopping madness. From crazy store hours to new products to super-saving deals, everywhere you look, you are reminded that the Holiday shopping season is happening. To help you prepare for the Holiday shopping season, here are three areas you can look to address:

1. Purchase Gifts Online

Not a fan of long lines or “fighting” through crowded aisles at your local mall? Then grab a chair, maybe a blanket, and fire up your computer. Online shopping is your answer to avoiding the crazy shoppers. When you consider the great online deals out there (Cyber Monday) and the time you will save by not going out, you will see the benefits of purchasing gifts online. At the very least, you can do your gift “scouting” online so you are best prepared to go out and find exactly what you want much more quickly.

2. Have A Game Plan

Yes it may sound a little excessive, but make a list of who you are going to purchase gifts for and then figure out what to get them. By making this list you can research which stores offer the best prices and which gifts in general are overpriced. Once you have a game plan in place you can go out and execute the plan, while still allowing for an audible or two. Knowing what you need to get, and more importantly what NOT to get, will be critical.

3. Set A Budget

Over-spending is not uncommon- In fact, it is quite easy. The Holiday season naturally calls us to be extra nice and go above and beyond for others. As a result, we tend to purchase extravagant gifts for our loved ones. While the thought is great, the result can sometimes be tough to deal with. You should never put yourself in a situation in which you are struggling to make ends meet because of your purchasing choices. Our suggestion; set a budget of how much you are willing to spend on gifts for each person on your list and then stick to it. It won’t be easy, but by identifying how much you can spend, you are putting yourself in a good position to cope with making difficult choices.

Again, the Holiday shopping season is going to be crazy, and there isn’t much you can do to change it. Hopefully, these three tips will help you stay calm and enjoy the Holiday season the way it was meant to be!

KASASA This Holiday Season!

Thank you for being a member of Financial One Credit Union. With our recent rebrand we wanted to let our members know what’s new and what’s different! We decided to partner with BancVue, also known as KASASA. KASASA is an effort to fight against “big banks” and show people that banking should be free and you should be rewarded for having your money at our financial institution.

What is new with Financial One? We will now be offering high yield checking accounts that pay up to 2% APR, or a 4% cashback on purchases up to $20. You also have the option of an iTunes reward account that will allow you to earn up to $5 per month in iTunes or Amazon credits with a $20 sign up bonus, just for using your checking account.

Each account does have qualifiers: you must have e-statements and you must login to online banking at least once in a qualifying period (usually the 1st of the month thru the 29th or 30th depending on the month). You must also use your debit card at least 12 times within that same qualifying period.

What is different with Financial One? We have always offered free checking accounts to our members, but now you will also have the option to earn rewards! Members decide which reward program to be in based on the accounts mentioned above. In addition to the newly added reward accounts, we also have a new website which allows our members to access our products and services with greater ease than in the past. Also, with the new website, members and non-members can now open accounts online rather than having to come into the branch.

We hope you will enjoy the changes to Financial One Credit Union. If you have any questions about KASASA please do not hesitate to contact us.

Big Changes at Financial One Credit Union!

Thank you for being a member of Financial One Credit Union. With our recent rebrand we wanted to let our members know what’s new and what’s different! With the rebrand we decided to partner with BancVue, also known as KASASA! KASASA is an effort to fight against the “big banks” and show people that banking should be free and you should be rewarded for having your money at our financial institution.

What is new with Financial One? We will now be offering high yield checking accounts that pay up to 2% APR, or a 4% cash back on purchases up to $200, or an iTunes reward account that will allow you to earn up to $5 per month in iTunes or Amazon credits with a $20 sign up bonus, just for using your checking account.

Each account does have qualifiers! You must have e-statements and you must log in to online banking at least once in a qualifying period (usually the 1st of the month thru the 29th or 30th depending on the month) as well as use your debit card at least 12 times within that same qualifying period.

What is different with Financial One? We have always offered “free” checking accounts to our members, but now you will also have the option to earn rewards! Members need to decided to be in the accounts mentioned above. In addition to the newly added reward accounts, we also have a new website which allows our members to access our products and services much easier than it was in the past. Also, with the new website, members and non-members can now open accounts online rather than having to come into the branch!

We hope you will enjoy the changes to Financial One Credit Union. If you have any questions about KASASA please do not hesitate to contact us!

Financial One Credit Union : What We are All About!

Financial One is a member-owned and controlled financial cooperative dedicated to improving the financial well being of its members. We open arms to residents and businesses in Anoka County, Northeast Minneapolis and the City of Champlin.

In addition, we are honored to include members of the Disabled American Veterans (DAVMN) to Financial One. Since 1933, we have been working hard to provide the best in financial services to our members. We offer a comprehensive package of financial products, including deposit accounts, loans, business services, and other convenience services.

Americans should spend less and save more, but putting money aside for the future can be a major challenge. We are here to help. We offer several ways for you to save. The first step is opening up a Primary Savings Account. This account along with a $10 opening deposit, will make you a member of Financial One and allows you to apply for other products and services that Financial One has to offer. We like to keep it simple with one type of checking account that provides everything you need and you still have all the great features that you would expect. We offer free online and phone banking, free estimates e-statements, free bill pay, free VISA debit cards and unlimited check writing.

We also have an overdraft protection program. This can be linked to your savings and/or a line of credit, just in case you overdraft. We work hard to help you avoid overdrawing your checking account and being charged a fee. We want you to save money!

All of your accounts come with free online access; free 24/7 automated phone access through One Call and no hidden fees. You can open an account here now!

We are so much more than just savings and checking accounts. We also offer loans! We are here for your lending needs. We can help you build credit, buy your first car, consolidate debt, refinance your home and much more. We will always take the time to find the best solution for you when it comes to lending.

We offer loans for almost anything you could imagine. From Auto, ATV and RV to Student and debt consolidation. Whether you have an emergency, are looking to purchase something just out of reach, need help building credit or paying off debt, we are here to help! Enjoy flexible loan options, competitive rates and no annual or prepayment fees.

We are also partnered with Members One Insurance. If you are looking for affordable insurance that fits your life, it may be easier than you think. Let us help you save time and money when shopping for insurance. Jim Pehl, our agent with Members One Insurance can shop over a dozen different providers to find you the
best combination of price, coverage and service to meet your specific needs.

At the end of the day, it isn’t all about helping others manage their money. We also take pride in our community. We take part in many different community events and charities such as: Hops for Hunger, Taste of Blaine, Blaine Triathlon, Green Expo and much, much more!

Call, visit our website (link) or stop in today to find out more. We would love to have you as one of our members!