Posts From October, 2014

Halloween: How Do You Stash Your Earnings?...I Mean Candy? 

By: Austin Rigby
October 31, 2014 Categories: saving

Kids have Halloween. What holiday do we have?

Once a year thousands of kids dress up as witches, princesses, Captain Americas, and anything else you can imagine. They can be whatever and whoever they want. After taking on these new identities, they walk door-to-door seeking a treasure haul of a lifetime: armfuls and armfuls of candy.

Think back to those days when you’d don makeup, wigs, masks and witch’s brooms…you were dressing up as something you’re not, maybe even something you aspire to be (not a ghost or goblin, per say, but maybe Babe Ruth or a pop star) and you were getting “paid” under the All Hallows Eve moon, no matter who and what you were dressed as, in sugar and chocolate. 

How did you consume your candy? Did you gobble it all up in one night, leaving you sick with a belly ache? Did you divvy up and make piles of the different types, saving the best for last? Did you stow away some pieces in a drawer or closet so you can enjoy some after the Halloween hoopla is over?

Halloween is kids’ treasure trove holiday, where is the one for us adults?

Here is the solution, its called “Salary Day.” Just like the kids, we also would go through the process of changing our identities for a day! While kids dress like ghosts, pro football players, and pirates on Halloween, our costumes would be slightly different. We would dress in different occupations than our own such as doctors, lawyers, engineers, maybe even Bill Gates. Instead of walking from home to home, we would instead walk to banks, colleges, law firms, Wall Street, etc., and receive from each a weeks worth of pay within the respected professions in which we dressed up as. When we returned home, within our arms WE would have a treasure trove of a lifetime. Unlike candy, we could use this to pay off car loans, take ballet lessons, finally take that family vacation to visit Aunt Marge, or even BUY a lifetime supply of candy.

Sounds a little bit like real-life condensed in a day, right? Now that you’re all grown up, you don’t just get “dressed up” for a “job” only one day a year. Or get paid in candy. And, no, work usually isn’t as much fun as running amuck with all your friends, a pillowcase of goodies in your hand.

But you’re still earning something priceless. Now, as an adult, how do you stow away your candy….or shall I say earnings? Do you spend it all in one night feeling somewhat sick the next morning? Do you split it between accounts, spending a little here and there? Do you stow some away for a rainy day?

Unless something crazy happens, I don’t think my genius idea of “Salary Day” is going to happen anytime soon.

But we can learn a little something by looking back at the habits of our Halloween youth and apply those lessons to our adult selves. Whether we’re “dressed up” as a doctor, astronaut or pro baseball player, or something a little less exciting like a manager or student…we must make sure that we hold back on the urge to splurge and keep a little something sweet stowed away for a rainy (or spooky) day.

And because this is a blog dedicated to the benefits of credit unions, what’s the harm in shamelessly plugging the benefits of storing your cash someplace a little less scary than a traditional bank. Credit unions are non-profit organizations run by their own members that pool their resources for the benefit of those members. Because their profits aren’t going into the pockets of shareholders, credit unions can offer many benefits to members, such as lower rates on loans and higher rates on savings accounts. Also, credit unions don’t care what your occupation is, all they care about is that you’re a MEMBER, which means you are also an OWNER. Being a member means YOU have a voice within the financial institution, and that the employees will do whatever is possible to take care of you.

I will submit my “Salary Day” idea to congress so we can get it passed as a holiday, but in the meantime grab your own money by joining a credit union today!

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