Whether it’s a pile of them on your dresser or a lucky one you find out and about, pennies are everywhere. Recently, the penny has been a major point of discussion after the current U.S. administration’s call to end penny production. But what exactly does this mean for consumers? Will one cent make much of an impact?
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If you’ve recently welcomed a child into your life, congratulations! This is one of the most beautiful and life-changing events you are sure to experience. You should be proud and excited for all that is to come as a new parent.
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When looking for a financial partner to handle and store your money, there may be a variety of factors that go into your decision. Are you looking for accounts that will give you the highest returns on your funds? Or are you seeking guidance you can count on for the right loan options or to kickstart your small business?
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Education is a right deserved by all citizens. But as foundational as education may be, it might not be accessible at all levels for everyone, especially for higher education. While you may be familiar with student loans, grants, and scholarships, there are other paths you can seek to save for your goals. One of these options is an educational savings account, commonly known as a 529 Plan.
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Do you often find yourself stressed over finances? If you do, you’re not alone. In a 2023 study by PricewaterhouseCoopers, around 57% of Americans consider finances to be the biggest stressor in their lives. With many throughout the world living paycheck-to-paycheck, these findings aren’t too surprising. So what can you do to manage both your finances and your mental health?
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Life is full of ups and downs. Milestone events like weddings, bar and bat mitzvahs, and birthdays are exciting moments of growth and love. But then there are the curveballs that life throws, such as unexpected medical emergencies or major car or home repairs. While these events vary significantly in terms of emotion, they are similar in at least one way—each costs money.
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When did you last deposit money into your savings account? Do you have a budget in place to help pay off your credit card?
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We know how busy life can be. Accessibility and convenience are key when it comes to several aspects of your life, especially your finances. You want to have peace of mind knowing you can easily access your accounts and receive the support you may need with your banking. Here at American Heritage, we recently introduced a new tool to help in these matters.
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You may have noticed a lot of recent discussion regarding taxes on credit unions. Lawmakers and the current administration are currently discussing tax reform. As a piece of that discussion, they’re looking at changing the credit union federal income tax status. As a member of a credit union, this isn’t just a tax on your financial institution—it’s a tax on you. Credit unions pay billions in state and local taxes each year. If Congress moves ahead with this revision and taxes the profits on credit unions, this will directly affect you as a member. These profits are returned to you in the form of fewer fees, better rates on loans, and higher dividend earnings.
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No matter your stage in life, it’s never too early to begin saving! Whether it’s an emergency fund, saving for goals like a car or a first house, or developing your retirement fund, there are a wide range of strategies and products you can use to meet your savings goals.
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