New Horizons Credit Union Blog

As the eagerly awaited holiday season gets underway, the end of the year is a great time to get a financial health checkup to make sure your finances are on track. With regular checkups, you can fix small problems before they become big issues. This year-end, keeping financially healthy is specially important due to many economic uncertainties related to inflation, inventory shortages,as well as the expiration of COVID relief programs put in place more than a year ago to help people manage through the pandemic. Your Financial Health Check Up Like a physical health checkup, a financial checkup examines your vital signs to be sure all is well when it comes to your financial health and wellness. Do you have an emergency savings account? How do your credit card balances look? Are you tracking monthly income and expenses? What does your credit score and history look like? These are a few of the vitals reviewed during an end-of-year financial checkup. From an overall budget revie...

There are many money myths that have been circulating society for ages. Whether they be regarding assets, saving, or overall money management, money myths need to be debunked! Because financial education is not deemed as important as math and science in school, these myths are rarely corrected, and people continue to believe them. Luckily, we have researched some of the most common money myths to help you get a better sense of your financial management. Myth 1: You Should Avoid Debt at all Costs. Starting off strong with one of the most famous misconception about money. This means that sometimes to get ahead in life, you need to borrow money. It's nearly impossible to reach financial wealth without going into debt. For example, if you were wanting to start your own business, you may not be able to open it with just the money in your bank account. It's not smart, and you may struggle financially in the long run. You need to take out a loan and go into debt. HOWEVER, when ...