Newsletter
April 2024
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Ways to Spend Smartly
If you struggle to make ends meet, you're not alone. According to data from CNBC, 58% of Americans live paycheck-to-paycheck. There are a number of ways you can spend smartly and create some breathing room in your budget so you can end that paycheck-to-paycheck cycle. Here are a few ideas to try.
Examine Your Expenses: Spending smartly starts with knowing where your money is going. Things like autopay and Venmo have made it easy to lose track of our monthly expenses. This often happens with recurring subscriptions to things you no longer use. To find where your hidden charges may be lurking, start by examining your credit card and bank statements to see exactly where your money is going. Cancel any unused or unwanted subscriptions.
Don't Be Afraid To Negotiate: Look to see if any service bills that you have (cell phone, cable, internet) have increased in price this year. If they have, call customer service and start negotiating-just politely ask for a better rate and you may be pleasantly surprised. Also, compare prices with competitors. If you find one offering a similar service for less money, let your current provider know. They may offer you a discount without changing your current service.
Make A Habit Of Meal Planning: According to the U.S. Environmental Protection Agency, the average family of four spends $1,500 per year on food that doesn't get eaten! In other words, we're throwing away $1,500 right in the trash. With a meal plan, you'll know exactly what you're cooking and exactly what ingredients you need to buy. A quick check of your pantry before you shop will help you avoid spending too much. Plus, having a list can help you avoid impulse buys saving you even more.
Stear Clear Of Social Media Temptations: When was the last time you got "influenced"? If you spend time on social media, you know it's all too easy to "add to cart" when someone you follow is advertising something great. Some 48% of social media users say they've made an impulse purchase of something they saw online, 68% of those individuals say they regret one of those buys later, according to Bankrate. "Unfollow" accounts that regularly tempt you to part with your hard-earned cash and put up some roadblocks to immediate spending. For example, delete any credit card payment info that may be automatically stored in your favorite apps, allowing you to make a purchase with just a few taps. Having to manually enter that information each time will give you time to think about the purchase and prevent impulse buying.
Know Exactly What You're Saving For: One of the easiest things you can do for your finances is to build a budget and keep your long-term goals in mind. Doing so will help you spend smartly whenever you're making a purchase. Whenever you have extra money, prioritize your savings goals first (for example college, retirement) and then treat yourself if there's money left over.
Start Your Warm Weather Fun!
Kennywood tickets for only $37.99, www.kennywood.com/promocode
Idlewild & Soak Zone tickets for only $35.99, www.idlewild.com/promocode
Sandcastle tickets for only $29.99, www.sandcastlewaterpark.com/promocode
Take the following steps to purchase discounted tickets:
- Visit the website
- Enter your "Good Any Day Admission" ticket quantity
- Enter code "ibewc56fcu"* in the Promotional Code" box, click "Apply"
- Click "Continue" and complete the remaining steps to purchace your tickets
*Do not capitalize the characters in the promo code. Offers only valid at the purchase links above. Online offer only. Visit each parks' webpage for more information.
Protect Your Money With a Trusted Contact
A Trusted Contact Person is a person that you designate the IBEW Local 56 FCU to contact if the Credit Union is concerned you are experiencing fraud, a health crisis, or another emergency that affects your financial affairs.
Choosing a trusted contact can help you prevent fraud and scams without giving up control of your finances.
Here are some tips when making this very important decision:
Choose Someone You Trust: someone reliable like a family member, close friend, or attorney that does not have access to your finances.
Ask Your Credit Union: to walk you through some frequently asked questions regarding trusted contacts, including when we will alert your trusted contact and what informtion we will share in different situations.
Keep it Updated: contact us right away if you want to change or remove a trusted contact.
Authorizing a trusted contact person is optional. However, many regulatory agencies have recommended that credit unions offer this program to help protect their members. Ultimately, it is your decision whether or not to appoint a trusted contact person.
Share Certificate Special
- 4.07%APY*
- $1,000 Minimum Deposit
- $50,000 Maximum Deposit
- 12 Month Term
- Dvidend pays monthly into Regular Share Account
*APY = Annual Percentage Yield. Must be an IBEW Local 56 FCU member in good standing to take advantage of this offer. Offer may end at any time. Penalty imposed for early withdrawal. Fees may reduce earnings on the account. Certain restrictions apply. Federally insured by NCUA.
Debit Card Reminders
24/7 Lost or Stolen Debit Card Contact Number: 800-543-5073
ATM Limit: $300.00/day
Purchase Limit: $750.00/day
If you need to purchase more than $750.00, we can temporarily increase your daily limit. Before you shop, contact the Credit Union office at 814-455-2270.
Online Banking & Bill Pay
We encourage our members to sign up for Online Banking (click the box on our home page). It's an easy way to keep an eye on direct deposits and automatic payments, to transfer funds from one sub-account to another, to look up copies of paid checks, and to transfer credit union loan payments. Sign up for E-Statements and view your statement online the beginning of the month or quarter.
If you have a share draft (checking) account, you can sign up for our Bill Pay service. Schedule your payments from the credit union's website and eliminate the need for checks, stamps, and trips to the post office. We have two Bill Pay options to choose from to fit your needs. Click here to see the options.
Contact the credit union office at 814-455-2270 if you have questions regarding these or any other services.
