Keep all receipts and create notes to record payments without receipts. Keep an account book by expense categories. This way you will be able to see what areas you tend to overspend. Use envelopes for each category of expenses with an allocated amount of money for a set-time, like a month. Pay bills by check...
Author: News Admin (News Admin)
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Crisis Financial Planning – Six Things You Can Do Right Now
(March 25, 2020) The spread of Coronavirus (COVID-19) and subsequent developments have left many of us feeling unsettled. Please be assured, DuTrac Community Credit Union is doing everything possible to keep our employees, members, and your money safe while delivering the highest level of member service possible.1. Take care of your taxes. Like most things, tax...
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Surviving a Layoff
Losing your job because you were laid off is not your fault – you did not do anything wrong. Dealing with a layoff can be stressful and emotional, so allow yourself the time to deal with your emotions, talk about how you feel, and remember: you are not alone. As many sectors of the economy...
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Tips to Help Generation X Improve Their Financial Situation
Employees across all generations are experiencing financial hardship. From the Baby Boomers approaching retirement after a decade of weak stock and real estate markets to the Millennials facing poor job prospects and rising student loan payments. However, according to a recent generational research report, the smaller – and often forgotten – Generation X is the...
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Joint Owner vs. Beneficiaries
Joint AccountA joint owner account has one primary member as well as a person named as joint owner. Both the primary member and the joint owner have equal, or the same, access to the functions of the account. Both can deposit, withdraw, or close the account. This degree of shared access by the primary member...
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20 Bank Fraud Prevention Tips for Consumers
With over 11 million identity fraud victims in the United States annually. Here are 20 easy ways to secure your bank accounts and avoid identity theft. Check your account activity regularly. Single most effective strategy to secure your finances. Log in and view your account activity multiple times every week to make sure there are no unexpected...
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Free Credit Freezes For You And Your Child
According to the Federal Trade Commission, a new federal law allows you to get free credit freezes for yourself and your children, and year-long fraud alerts. Currently, you may be charged fees to freeze and unfreeze your credit, depending on which state you reside in. How Credit Freezes Work Freezing your credit prevents creditors from...
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FICO Plans Big Shift in Credit-Score Calculations
(Tuesday, October 23, 2018) Fair Isaac Corp. , creator of the widely used FICO credit score, plans to roll out a new scoring system in early 2019 that factors in how consumers manage the cash in their checking, savings and money-market accounts. It is among the biggest shifts for credit reporting and the FICO scoring...