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 ...

January 10, 2022 is National Cut Your Energy Costs Day. This day is in place to encourage homeowners to lower their energy bills and help the environment by making behavioral changes or updating their home! Homeowners can do this by using less electricity, gas, or any form of energy that they pay for. Read below to find out how you can update your home to lower your utility bills and save money in the long run! 1. Adjust Your Day to Day Behavior This is one of the easiest ways to lower your utility bill. You can do simple things like turning off the lights when you leave a room, unplug appliances you're not using, and wash the dishes by hand - if you can. You can also turn down the heat in the winter or AC in the summer. Simple routines like these can help you save money on your utility bills. 2. Replace the Light Bulbs You may be wondering how this can help you save money, but changing your light bulbs do have a positive outcome to your utility bill! Compact fluoresc...

Who doesn't like saving money? When stores announce they're having a sale, everyone rushes to their store to get their hands on a discounted item. Retailers and major companies need to get rid of "last season's" items to make room for the new. Instead of throwing away their unsold clothes or electronics, they choose to have a sale to make some profit. Smart, isn't it? We love a good sale, so we thought we'd share with you the items you must buy after the holidays are over! The days after Christmas are a great time to hit the stores because this is when most retailers are trying to make room for their new shipments. These sales usually last until the end of the year or into January. To take advantage of these sales, make a list of the items you need / want to buy. But remember, new versions of these items will come out in the new year, so you need to be okay with not having the "latest" version. 1. Winter Clothing Winter clothes are exp...

The holidays are the most wonderful time of the year, but they can also be pretty stressful. You have to buy gifts, attend Christmas parties, and be careful not to go over budget. It can get to be a lot. Stress can also make you sick, and we don't want you to be sick during the holidays! Here are some tips you can try out to beat that holiday stress. 1. Watch Your budget Try to not go over your budget. If you're nearing your limit, see if you can DIY some gifts or remove some gifts from your list. Everyone goes through financial hardships at some point in their life, so if someone doesn't receive "the best gift ever" from you, they'll understand. A great gift that you can get your children for a low price is a Savings Account! Opening your child a savings account is the best gift as it teaches them financial responsibility and encourages them to save. Not only that, your child will be ahead of the game when it comes to being financially independ...

Christmas is the most wonderful time of the year. Christmas is also the time of year where scammers make the most money! Unfortunately, people tend to fall for "too good to be true" ads or deals online. They also want to make some extra cash to buy those last few presents and fall victim for "easy" jobs. The Better Business Bureau has released a 12 Scams of Christmas list and we want you to be aware so you don't fall prey to these scammers! 1. Fake Shipping Notifications This scam targets everyone. We've all shopped online and received a text message or email about our shipping confirmation. However, you may sometimes get these even if you haven't shopped online. You wonder, did I order something and just forget? Before you click on any links, go to any of the websites you may have shopped from and confirm from there. Or simply ignore the text or email because more than likely it's fake. 2. Alerts About Compromised Accounts Tho...

Thanksgiving is a time to get together with friends and family and give thanks. The pandemic made Thanksgiving look a little different, but this year, we want to get back together with our friends and family to celebrate! Check out our Holiday Loan to wow your guests with the best Thanksgiving gathering! Three weeks before Thanksgiving: Prepare your guest list and confirm how many people will attend. Find out any special dietary needs and plan these dishes accordingly. Place a rental order for tables, chairs, glasses, plates and flatware (if necessary). Two weeks before Thanksgiving: Decide on your final menu. Select dishes that taste good at room temperature, so you won't have to worry about your dishes getting cold or melting. Assign cooking projects to family members who offer to help. This speeds up the cooking process and alleviates some of the stress. Order your fresh turkey in advance so you can pick it up the day before or Thanksgiv...