It’s no secret that interest rates on everything from auto loans to home loans have risen significantly over the past year. However, there’s a bright side to rising rates: Savings accounts have also increased their interest rates, making it easier to grow your savings.
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Economic downturns, looming recessions, and rising inflation can shake your financial stability. In these times, credit cards can seem like an immediate solution, but leaning too heavily on them might set you up for future pitfalls. When it’s time to batten down your financial hatches, making wise choices regarding credit card use is more important than ever.
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Want your savings to earn more than they would in a traditional savings account, without taking on risk? Then you may want to look into opening a certificate. If you do your banking at a credit union, you may also know them as share certificates, or as certificates of deposit (CDs) at a bank.
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Do people still carry cash? The answer is a resounding YES. While most transactions can be handled with your digital wallet, credit card, or debit card, cash is still useful, especially in an emergency, when digital or card payment options might not be available. As with most things in life, it’s smart to be prepared. Let’s look at how much cash you should have on hand and how to keep it safe.
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Small businesses are the backbone of the economy and a vital part of our cultural identity. However, when it comes to holiday shopping, many consumers rely on retail giants, missing out on the opportunity to discover distinctive offerings and invest in their communities. Small Business Saturday is always the last Saturday in November, falling between November 24 and November 30, depending on the year. Small Business Saturday is a chance for Main Street enterprises to capture a little more yuletide magic and market share. Here’s what small business owners need to know.
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If you feel overwhelmed by your finances, you’re not alone. In fact, nearly half of all Americans live paycheck to paycheck, struggling to pay bills or save for the future. By adopting healthy financial habits, you can help reduce financial stress, increase financial security, and enhance peace of mind.
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‘Tis the season to be wary. The holidays are a busy time for shoppers, travelers, and helping hands. Unfortunately, the cold weather months are also when scammers turn up the heat. A 2020 Experian study found that nearly one in four Americans have fallen prey to fraud during the holidays. In this article, we’ll cover seven costly scams that are currently on the rise and offer a few tips for staying safe.
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Kofi Annan, former secretary-general of the United Nations, had the whole world’s well-being in mind when he said, “Literacy is a bridge from misery to hope—it is a bulwark against poverty and a building block of development.” Astronomer Carl Sagan was thinking beyond our own space and time when he said, “Across the millennia, the author is speaking directly to you—proof that humans can work magic.” Unfortunately, not everyone in our communities gets to fully experience that magic. Nationwide, over half of adults read below a sixth-grade level, which has significant implications for health and financial wellness.
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For many people, the colder months are a time for giving: giving thanks, giving gifts, and giving back to help the less fortunate. However, when finances are tight, the desire to support great causes can sometimes be overshadowed by budgetary concerns. Fortunately, you don’t need deep pockets to make a meaningful impact. There are plenty of ways to give back and spread cheer while keeping your budget in check. After all, the true spirit of giving lies not in the cost of gifts but in the kindness of our hearts.
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Join your fellow members of American Heritage Credit Union on Thursday, October 19, 2023, as we celebrate International Credit Union Day and a major milestone.
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