Home Buying: Psychological Pitfalls to Overcome

Buying a home is a significant milestone, whether it’s your first time or you’re moving for a growing family. The journey is exciting but can also be exhausting and overwhelming at times. In an ideal world, your perfect home would be waiting for you at the perfect price. Unfortunately, reality often presents a more complex picture.  Finding the right home demands patience, energy, and compromise. Along the way, you may encounter obstacles that can take an emotional toll, making it easy to become discouraged or make hasty decisions that lead to financial missteps.  To navigate this journey successfully, it’s crucial…

September 24, 2024Future Planning No Comments
Home Buying: Psychological Pitfalls to Overcome

Buying a home is a significant milestone, whether it’s your first time or you’re moving for a growing family. The journey is exciting but can also be exhausting and overwhelming at times. In an ideal world, your perfect home would be waiting for you at the perfect price. Unfortunately, reality often presents a more complex picture.  Finding the right home demands patience, energy, and compromise. Along the way, you may encounter obstacles that can take an emotional toll, making it easy to become discouraged or make hasty decisions that lead to financial missteps.  To navigate this journey successfully, it’s crucial…

One-Minute Read: Can a Car Loan be Refinanced?

Absolutely! Refinancing an auto loan is a smart way to potentially lower your monthly payments, reduce your interest rate, or adjust your loan term to better fit your financial situation. If your credit score has increased or if rates have dropped since you received your loan, refinancing could be a great option.  At PEFCU, we make the refinancing process straightforward and convenient. By refinancing your auto loan with us, you can take advantage of our competitive rates and flexible terms*. Plus, you can apply easily at PEFCU.com.  Ready to see how much you could save? Visit our website today and…

September 17, 2024One Minute Reads, Wallet Wins No Comments
One-Minute Read: Can a Car Loan be Refinanced?

Absolutely! Refinancing an auto loan is a smart way to potentially lower your monthly payments, reduce your interest rate, or adjust your loan term to better fit your financial situation. If your credit score has increased or if rates have dropped since you received your loan, refinancing could be a great option.  At PEFCU, we make the refinancing process straightforward and convenient. By refinancing your auto loan with us, you can take advantage of our competitive rates and flexible terms*. Plus, you can apply easily at PEFCU.com.  Ready to see how much you could save? Visit our website today and…

Gen X: Financial Milestones, Challenges, & Solutions 

Generation X, defined as the cohort born between 1965 and 1980, is often the forgotten generation. Boomers, Millennials, and Gen Z may dominate the headlines, but Gen X is reaching a pivotal point in their lives. Becoming middle-aged often means balancing a multitude of responsibilities, including raising children, preparing for their college years, planning for retirement, and possibly caring for elderly parents. That’s a lot to juggle financially and emotionally.   As the oldest members of Gen X turn 59, retirement may already be a reality. For others, their golden years are just over the horizon. This reality leads many to…

August 27, 2024Future Planning No Comments
Gen X: Financial Milestones, Challenges, & Solutions 

Generation X, defined as the cohort born between 1965 and 1980, is often the forgotten generation. Boomers, Millennials, and Gen Z may dominate the headlines, but Gen X is reaching a pivotal point in their lives. Becoming middle-aged often means balancing a multitude of responsibilities, including raising children, preparing for their college years, planning for retirement, and possibly caring for elderly parents. That’s a lot to juggle financially and emotionally.   As the oldest members of Gen X turn 59, retirement may already be a reality. For others, their golden years are just over the horizon. This reality leads many to…

Your Guide to Savvy Car Shopping

When you set your sights on buying a new car, a whirlwind of emotions can arise. On the one hand, you’re excited to find and cruise away in your new ride. But on the other hand, you know it’s a big decision that could significantly impact your finances for several years.   That’s why it’s crucial to do a bit of homework before you ever step foot onto a dealer lot. A little prep can help to reduce the price of the vehicle, secure better financing options, and put you into a better financial position overall.   In this article, we’ll highlight…

August 19, 2024Uncategorized No Comments
Your Guide to Savvy Car Shopping

When you set your sights on buying a new car, a whirlwind of emotions can arise. On the one hand, you’re excited to find and cruise away in your new ride. But on the other hand, you know it’s a big decision that could significantly impact your finances for several years.   That’s why it’s crucial to do a bit of homework before you ever step foot onto a dealer lot. A little prep can help to reduce the price of the vehicle, secure better financing options, and put you into a better financial position overall.   In this article, we’ll highlight…

Tips to Improve Your Loan Approval Odds

Applying for a loan often feels daunting to many – but have no fear. You can employ several strategies to improve your chances of being approved. Whether you’re looking to finance a new car, buy a home, consolidate debt, pay for education expenses, or borrow for another need, preparing your finances beforehand can make all the difference.   Here are some tips to help you increase your likelihood of being approved for your next loan – and how to secure more favorable loan terms.     Determine What You Can Afford   Knowing how much you can afford to borrow before applying for…

August 14, 2024Borrowing Basics, Wallet Wins No Comments
Tips to Improve Your Loan Approval Odds

Applying for a loan often feels daunting to many – but have no fear. You can employ several strategies to improve your chances of being approved. Whether you’re looking to finance a new car, buy a home, consolidate debt, pay for education expenses, or borrow for another need, preparing your finances beforehand can make all the difference.   Here are some tips to help you increase your likelihood of being approved for your next loan – and how to secure more favorable loan terms.     Determine What You Can Afford   Knowing how much you can afford to borrow before applying for…

Gen Z: Leading the Way to Sustainable Money Choices

As climate and environmental concerns continue to grow in popularity, Gen Z has quickly become the face and champion of this great movement. While everyone is concerned with the upkeep and preservation of the environment, this generation is leading the way in incorporating alternatives to become more eco-friendly.   Their dedication is encouraging many businesses and organizations to change how they manufacture products, deliver services, and operate daily. These changes also include how people can interact with and spend their money through more environmentally friendly methods.   In this article, we’ll reveal the impact consumer choices have on the environment, how simple…

August 5, 2024Future Planning, Wallet Wins No Comments
Gen Z: Leading the Way to Sustainable Money Choices

As climate and environmental concerns continue to grow in popularity, Gen Z has quickly become the face and champion of this great movement. While everyone is concerned with the upkeep and preservation of the environment, this generation is leading the way in incorporating alternatives to become more eco-friendly.   Their dedication is encouraging many businesses and organizations to change how they manufacture products, deliver services, and operate daily. These changes also include how people can interact with and spend their money through more environmentally friendly methods.   In this article, we’ll reveal the impact consumer choices have on the environment, how simple…

Are Credit Unions FDIC Insured? – One Minute Reads

If you’ve ever wondered whether credit unions are FDIC insured, the short answer is no. However, credit unions have their own equivalent protection through the National Credit Union Administration (NCUA).  The FDIC (Federal Deposit Insurance Corporation) insures deposits at banks, ensuring that your money is safe up to $250,000 per depositor, per insured bank. Credit unions, on the other hand, are insured by the NCUA (National Credit Union Administration) through the National Credit Union Share Insurance Fund (NCUSIF). This coverage also protects deposits up to $250,000 per individual depositor.  So, while credit unions aren’t FDIC insured, the NCUA provides a…

August 1, 2024One Minute Reads, Uncategorized No Comments
Are Credit Unions FDIC Insured? – One Minute Reads

If you’ve ever wondered whether credit unions are FDIC insured, the short answer is no. However, credit unions have their own equivalent protection through the National Credit Union Administration (NCUA).  The FDIC (Federal Deposit Insurance Corporation) insures deposits at banks, ensuring that your money is safe up to $250,000 per depositor, per insured bank. Credit unions, on the other hand, are insured by the NCUA (National Credit Union Administration) through the National Credit Union Share Insurance Fund (NCUSIF). This coverage also protects deposits up to $250,000 per individual depositor.  So, while credit unions aren’t FDIC insured, the NCUA provides a…

Preventing Lifestyle Creep from Overtaking Your Finances

Have you ever found yourself daydreaming about how you will spend your next pay raise or bonus? Maybe you plan to make repairs on your home, begin saving for your child’s future college expenses, or want to eliminate high-interest credit card debt.   However, before you know it, those funds are gone, and your goals remain incomplete. Where did all this new money go? It’s a phenomenon called lifestyle creep. We’re here to help you understand its causes and consequences and how to avoid it.  What is Lifestyle Creep?  Lifestyle creep, also known as lifestyle inflation, is when your general spending…

July 25, 2024Future Planning, Wallet Wins No Comments
Preventing Lifestyle Creep from Overtaking Your Finances

Have you ever found yourself daydreaming about how you will spend your next pay raise or bonus? Maybe you plan to make repairs on your home, begin saving for your child’s future college expenses, or want to eliminate high-interest credit card debt.   However, before you know it, those funds are gone, and your goals remain incomplete. Where did all this new money go? It’s a phenomenon called lifestyle creep. We’re here to help you understand its causes and consequences and how to avoid it.  What is Lifestyle Creep?  Lifestyle creep, also known as lifestyle inflation, is when your general spending…

How to Use Compound Interest to Build Wealth

You’ve probably come across the term “compound interest” when considering savings and investment options. But what exactly is compound interest, and how does it impact your wealth-building strategy?  Compound interest is a powerful tool that can appear minimal at first, but when coupled with time, it can tremendously impact your savings journey. Together, we’ll explore this concept, explain how it works, and reveal ways to leverage its power to build wealth and secure your financial future.  What Is Compound Interest?  When you invest money, the financial institution will often pay you interest (an amount for holding your money at their…

July 15, 2024Future Planning, Wallet Wins No Comments
How to Use Compound Interest to Build Wealth

You’ve probably come across the term “compound interest” when considering savings and investment options. But what exactly is compound interest, and how does it impact your wealth-building strategy?  Compound interest is a powerful tool that can appear minimal at first, but when coupled with time, it can tremendously impact your savings journey. Together, we’ll explore this concept, explain how it works, and reveal ways to leverage its power to build wealth and secure your financial future.  What Is Compound Interest?  When you invest money, the financial institution will often pay you interest (an amount for holding your money at their…