Wallet Wins

You may have a lot of balance transfer offers from credit card companies piling up in your inbox or mailbox, or popping up while surfing the net. Some may seem like junk mail, but if you’re in a financial bind, a balance transfer offer could seem like a lifeline. Now let’s find out if these ads really give you the whole truth.   Balance Transfers Move Debt Between Credit Cards  A balance transfer moves outstanding debt from one credit card to a new one. In exchange for moving the debt to a new card, the card issuer promises an incentive, which may be a promotional or introductory low, balance transfer fee waiver, or bonus rewards of some…

For some, discussing money with their young kids can be difficult. For some people, their own financial uncertainties are a barrier to teaching their children about money. Others just may not realize the importance of teaching financial responsibility to children early. Fortunately, as a PEFCU member, you have access to a variety of tools that can help you teach your young child important lessons about money that will help them live their best life.    Now is an ideal time to teach your school child valuable lessons about money. Here are some themes you can discuss:  How to make a budget. Using their allowance, teach your child to budget. A simple budget includes three categories: Savings, Charity, and Spending. Explain to them the importance of “saving some, giving some, and spending some.” It might help to label three different jars for each category as a visual to help your child understand where their money goes each week.…

How many times a day do you swipe your credit card? It’s common for most people to do this without thinking twice about it. From the coffee you pick up on your way to work to dining out for lunch, you may not realize just how often you’re spending money. The problem is, spending so frequently makes it difficult to save. From tapping your mobile device to making a purchase online, how much are you spending?  Spending Made Easy Makes Saving Difficult  Back when you had to pay in cash for everything, spending was much harder. These days, it’s too easy. You don’t even need to have your card in hand while shopping online, right now! While this helps you…

The chocolates. The hearts. The flowers! Valentine’s Day is the most romantic day of the year, right?  It can also be one of the most expensive, especially if you’re wining and dining your sweetheart.  We’ve got a secret for you: Valentine’s Day doesn’t have to be pricey. There are plenty of fun, romantic, cute things you can do to romance your honey on that date without wondering if your card will be declined at the end of the night.  Cook Dinner Together.  It’s popular to dine out at an expensive restaurant on Valentine’s Day. However, having more diners means that restaurants get crowded and that their employees are pushed to their limits. Plus, the price of the…

Right now, you can easily buy anything with a quick swipe, tap, or click at any online or brick-and-mortar store. All these stores constantly push impulse buying on you by design, and that makes it hard to say no. But you can take control of impulse buying once you stick to a few of these rules.    1. Don’t Go Cold Turkey. Cutting yourself off cold turkey from impulse buying is not always the right move. This makes many people feel like they’re being punished, and they may want to rebel against their self-imposed restrictions. Be realistic and admit that everyone deserves a fun treat occasionally, even you. Allow yourself a couple of impulse purchases.   To stay in control, give yourself a weekly or monthly allowance, but don’t spend more than that. This helps you balance your need to enjoy the fruits of…

Fraud prevention can take some effort, but it’s worth it. Especially when your financial security is on the line. These days, you can’t confuse a constant awareness of fraud risk with paranoia, because it’s easy to fall victim to scams. However, common sense goes a long way toward keeping your accounts secure.  Remember, YOU are the first line of defense in protecting your data. Learn about new threats, stay current, and take necessary precautions to keep your personal information secure.   Here are eleven common-sense tips for protecting your personal data:   1. Think twice.   From the clerk asking for your email address at your favorite store to the food delivery website requiring your address, there’s always someone asking…