Product Spotlight: Holiday Loan and Savings Club
While the holiday season may be a time of tradition for many, changing economic factors will force many to adapt their habits to fit a tighter budget this year.
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Posts about Savings & Budgeting (4)
Debt Skills and Time Management: How to Master Both
There are only twenty-four hours in a day, and how you spend each one can impact your entire life. If you frequently find yourself trying to magically turn back the clock, you may be in “time debt.”
Ineffective time management skills can cause us to “borrow” time from other activities to try and catch up with obligations, such as canceling one activity to make time for another. This then creates a “debt” to the first activity that needs to be repaid, and the cycle continues.
Unlike other forms of debt, time is a limited resource that is impossible to ever truly gain more of, and in the end, the bad habit of borrowing time will only lead to stress and neglected responsibilities.
By utilizing financial debt management skills, we can’t gain more time, but we can tackle time debt.
Does Money Buy Happiness?
Money can’t buy happiness — is that even true?
When it comes to wealth and well-being, great minds think differently. Arthur Schopenhauer once declared, “Money alone is absolutely good,” while Seneca the Younger cautioned, “Money has never yet made anyone rich.” Perhaps a balanced perspective is needed — and as the legendary financial commentator Louis Rukeyser once quipped, “The best way to keep money in perspective is to have some.”
Indeed, while most research confirms that the constant pursuit of riches leads to diminishing returns, achieving financial stability can definitely make life better. Probably the best-known study on this topic, conducted by Nobel laureates Daniel Kahneman and Angus Deaton, found that Americans’ emotional well-being rises with annual income up to about $75,000, at which point more cash doesn’t equal more laughter or less stress.
Meanwhile, other researchers have discovered that the relationship between money and happiness has less to do with how much you make than what you make of it. Wondering what financial habits are most likely to bring you joy? Here are five smile-inducing strategies to consider:
The Young Adult Financial Wellness Starter Kit
Now that we’ve created the Financial Wellness Dictionary for young adults to educate themselves on the most relevant terms to begin their financial wellness journey, the next step is to establish yourself at a financial institution. In today’s blog, we look at a handful of starter accounts, products, and services young adults should have or start familiarizing themselves with to continue towards financial independence.
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Budgeting Tips to Stay Ahead of Inflation
If you did a double-take the last time you checked out at the store or paid at the pump, you’re not alone. Right now, inflation is in overdrive, and people are feeling the pinch in their wallets. Inflation may be out of your control, but you can act to take the sting out of rising prices.
But first, let’s look at a few basics.
Product Spotlight: Your Debit Card
It’s easy to take debit cards for granted. After all, they’ve been around since 1966 – the same year the Beach Boys released Pet Sounds. And just like the classic album, debit cards have stood the test of time.
It’s easy to see why. Debit cards are safer and more convenient than carrying around lots of cash. And because they’re usually connected to one of the big credit card networks – Mastercard® or Visa® – you can use your debit card like a credit card to make quick purchases in stores and online.
But unlike a credit card, which lets you charge purchases and pay them back later, you use your debit card to pay now by drawing funds directly from your checking account. If you’re budget-conscious, paying with your debit card is a smart way to track spending, skip credit card fees, and avoid racking up a credit card balance and interest charges that may be hard to repay.
Debit cards have evolved quite a bit over the years. Here at American Heritage, our Independence Debit Card just keeps getting better – with new features and perks to help you save time and get more for your money. Let’s take a closer look.
Travel Tips for Planning Your Next Vacation
Vacations are the perfect opportunity for some well-deserved relaxation and making new memories. Get the most out of your getaway by planning your trip in advance. This way, you can spend your vacation time stress-free!
The last thing you should worry about on vacation is money. In this article, we offer tips or mindful spending and planning for travel.
Save on Your Summer Energy Bills: Tips From A to Z
As the temperature outside starts to rise, so does the cost of keeping your home cool. Typically, electricity rates are higher during the summer due to increased demand, leading to higher summer electric bills. If you want to secure a lower electric bill (without feeling like you’re living in a sauna), check out these 26 energy-saving tips for summer. We’ve got ideas from A to Z!
Participate in America Saves Week and Build Yourself a Better Future
American Heritage Credit Union has partnered with America Saves to promote America Saves Week 2022! It’s never too late to start your personal savings challenge and journey towards financial wellness. #ASW2022 follows a five-day format with a different savings theme for each day. Keep reading to find the best strategies for your lifestyle.
8 Banking Fees You Should Know About (and How To Avoid Them)
From monthly checking account fees to surprise ATM surcharges, Americans are paying way too much for their banking. If you’ve ever gotten an unexpected bank charge—or a few of them—you know how it feels. That money could be put to better use, whether it’s to pay for a nice meal or stash away in your savings.
If your New Year’s resolution is to save money, knowing about these eight common banking fees and how to avoid them is a great first step.