Life is full of decisions, some bigger or more impactful than others. This is fairly obvious. What’s not so obvious is that some seemingly small decisions you make as a young person – we’re talking about money decisions – can have life-changing consequences, both good and bad. To focus on the positive, here are three...
Category: Tips, Tools & Resources
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Holiday Budget Game Plan
Financial stress can take the joy out of the holiday season, but there are some small steps you can take to limit spending during this time of year. Budgeting: Budgeting is one of the simplest ways to save money. Allow yourself a certain amount to spend on various holiday needs and be diligent in staying within your...
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Building Your Savings
At any point in time, a person’s income probably won’t always be enough to cover all of the expenses when there is a time of need. As a result, plan sooner, rather than later, to implement a savings strategy to begin, or increase, personal savings levels as needed so an adequate amount of funds can...
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Moving Up: Weighing Whether to Rent or Buy
Buying a house can be a life-changing experience. Each step along the home ownership journey requires either a good deal of time or money: The time to select and meet with a mortgage lender and gather the necessary information to determine the borrower’s qualification for a home mortgage; The time to collect, in addition to,...
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Using Credit Wisely
Credit is an important financial tool. Good credit allows consumers to purchase many different kinds of goods and services including some of the most expensive such as college tuition, new vehicles or even a home, without having to immediately pay cash. Over time, consumers use of credit builds consumers’ credit reputations – summarized in a...
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Tips for Those That Have Lost a Loved One
Losing a spouse is not an easy journey. Often, grief is set aside to deal with the ongoing practical matters of everyday life and the new reality of handling household finances as an individual rather than as a couple. The good news is there are a number of resources at DuTrac to assist you. Where...
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Top 10 Ways to Save
Being frugal does not always mean being cheap. Remember to keep this essential attitude. There is a greater reason for not spending money. Shop based on sales. Stock up on items that you use regularly when the store is having a sale. Know your prices. Compare prices of items commonly purchased for your home. Keep...
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10 Ways to Track Spending
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...
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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...