“Can I Still Go to Cancun?”  

By: Daniel Jacinto
March 09, 2015

Ahhh…the beloved spring semester at college, you know, the one that straggles along at a slow pace? For the five years I’ve been in college, I’ve noticed that the spring semester drags on much longer than the fall semester. This is mostly true because during the Fall semester there are many holidays to look forward to that make it seem like it breezes by. But what do college students look forward to during the spring semester?

SPRING BREAK! This joyous time-off from school typically accompanies Easter at most universities and colleges. Through my experience, students either use Spring Break as a time to catch up on their coursework or party (wherever that may be). Robin Williams couldn’t say it any better, “Spring is nature’s way of saying, ‘Let’s party!’”

But being that the national student loan debt grew to $1.2 trillion, how are students partying? (At least, guilt-free)! I don’t want to be a buzz-kill considering many of us are fed up with winter and are dying to give up shoveling for spring weather.  With this in mind, there are ways to still enjoy your Spring Break without “breaking” the bank.

1.Take a Road Trip
It’s as easy as getting into your car and just driving. All you need are friends, a reliable car, and your high-tech smartphone map! Head towards famous national monuments or visit friends and family in different states. Is your GPS sending you through only toll roads? Take the scenic routes to your destination to really enjoy the adventure.

2.Go Camping!
Perfect for the outdoorsy type, camping brings a lot of quality time with your friends…and of course…s’mores. Pitch a tent, start a campfire, bring the friend with the band, and don’t forget the fishing poles! Many states have campgrounds that aren’t expensive to go camp on.

3.Visit a Major City
There’s much to see in the metropolitan areas of all states. You can learn about their history and see their modern sites. It’s not all about just museums and parks; these major cities also have a great nightlife. Some cities to consider are: New York City, Boston, Los Angeles, Chicago, Houston, Phoenix, Philadelphia, and San Diego.

See? Now you don’t have to cut your Ramen noodle spending with the money you’ll be saving to enjoy your Spring Break!

Oh…and…just make sure you did your homework and studied for that mid-term coming up next week. 

Freedom from the Money Oppression: Some New Years Resolution Money Principles to Do So. 

December 09, 2014

Life is filled with money spending moments. When you rent a new apartment, get married, or have a kid, new expenses will come. TV is filled with advertisements for companies that want your money, ranging from deals on cars to a new burrito from Taco Bell. Money, money, money; its what makes the world goes round. To do anything anymore seems to cost money. Prices of college seem to be going up, food is becoming more expensive, and hanging out doesn’t mean chilling in your parent’s basement playing pool with your friends. Then there is the stupid stuff we spend money on. Steve Martin had this to say, “I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.”

Once again we come to the conclusion that life requires money and just to let you know, there is a very low probability that your money problems are going to be fixed via the lottery or a wealthy relative. (Sorry, Mr. Deeds is a fictional movie!) So for the everyday man, what do we do to be smart about our money? Everybody’s circumstances are different. So specific tips won’t work for everyone. But what I have are principles to give you guidance as you try to stay true to your financial New Years resolutions. If you apply these principles to your New Years resolutions, then you will have an opportunity to succeed!

Principle 1: Make a Goal

Goals, goals, goals. We hear about these all the time, until it makes us sick. But goals are actually very important to success, if they are done right. I was talking with a successful life planner on how he helps people to succeed in their lives. He told me that goals are essential, but if they are done wrong they can be damaging. If someone makes a goal that seems so big and they never achieve it, then eventually they will give up. It is important to have smaller goals first. When you accomplish a few of your smaller goals, it gives you confidence and belief. For example, lets just say your goal was to become debt free by the end of the year. For some people this might not be possible, and by not accomplishing the goal, this could be detrimental. So maybe make the goal smaller, something like “I won’t go out to eat for a month”, or “I will save this much more from my paycheck”. Knowledge that goals can be achieved is just as important as making those goals.

A bonus tip with goals is to avoid the ever-easy deception of comparison. When you compare your situation with others, all it brings is misery and wishful thinking. The key is to compare your old self and where you are now. Look at the growth and the goals that you have accomplished over time. This will help you become more successful.

So many people spend elaborate time and resources creating goals but then they end up not accomplishing them. A huge cause of this is that they forget about their goals. Goals need to be checked and evaluated daily. Start the day thinking, “How am I going to accomplish my goal today?” and end the day thinking “How did I work towards accomplishing my goal today?” Zig Ziglar said, “People often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily.”

Don’t keep your goals to yourself. Without someone to be accountable to, it can be easier to give up and go back to your old habits. When you have someone to be accountable to, it gives you extra motivation because there is another person you don’t want to disappoint. For more goal tips, click here.

I hope goals don’t sound so dreary to you now. Instead, I hope you think about goals with the same alacrity as Spanish soccer announcers whenever they see a goal!

Principle 2: Put the future in front of the now

Self-discipline is KEY to financial success. The popular cliché “keeping up with the Jones” is something that needs to be avoided at all costs. It can be easy to say “my neighbors has this ‘new toy’, so I want the same or better one than they do”. This is a recipe to high spending now and high debt in the future. In life we must learn that sometimes it is better to give up our wants now so we can have success in our future. I understand, this can be tough! I personally love WaWa, and if I could do so, would go out to eat there every day. But even though the meatball hoagie and TastyKakes taste wonderful in my belly, they would damage my bank account horribly.

Antoine Walker is an example of someone who lacked self-discipline by spending a lot of money in the moment. Antoine Walker was a basketball star that over the course of his career made $110 million. Yes, you’re reading that right, $110 MILLION! During his career, Walker would end up spending money on women, real estate, cars, and clothes. Money wasn’t a worry to him, because he had a bunch and would never run out. Well, Antoine Walker was wrong, he did run out and found himself extremely in debt. Antoine Walker is now 37, no longer in the NBA, and broke. This example goes to show, that no matter how much money you make, if you aren’t smart with it, you will have financial woes later on in life.

Principle 3: Word Hard

Thomas Edison said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.” The principle of work is critical to success. After all is said and done, if you don’t go and work then you’re going to be in trouble. This means putting your all into your jobs, and your all into helping yourself financially.

According to a report this October, the PEW research center stated that 50% of people felt “working hard” was important for getting ahead in life. Working hard was the second highest on the scale out of seven categories which included “knowing the right people,” “being lucky,” and “belonging to a wealthy family.” The only attitude that seemed more important than working hard was “having a good education.”

Getting yourself to financial stability is a process that goes on throughout your life. Be smart and apply these principles of using goals, putting the future first, and working hard, which will move you towards financial success this year!

Credit Unions and Small Business: Their Underdog Story 

By: Austin Rigby
November 25, 2014 Categories: bank alternatives small biz small business saturday

Near the steps of the Philadelphia Museum of Art stands an iconic symbol, a statue, for Americans. This statue represents a man who would get hit over and over; sometimes he would fall, but ALWAYS he would get up and keep on fighting. That man was Rocky.

Rocky is just one of the many underdog stories we love here in America. We want the little guy to win. We want him to overcome the big forces that seem to have all the money and resources to do whatever they want. The little guy has to be thrifty, cunning, and come up with a unique plan so he can win in the end. The underdog’s secret and x-factor is heart. They simply want it more!

The underdog is ingrained into our blood as Americans. Just look back at how we started as a nation. To win our independence, America had to go up against the number one power in the world. England was such a powerful country, that it was said, “the Sun never sets on the British Empire”. Looking at the resources the Americans had in comparison to the British, we should have had no shot in winning our independence. What was the secret to our success? It was our x-factor, we wanted it more!

It seems like today’s underdog attention focus is on sports and movies, and we seem to forget about the real-life, day-to-day underdog battles that are happening all around us; those of the small business. Within the last few decades, the buying and consumption of objects are unique. No longer are we going to markets and vendors to buy our food, instead we go to places such as, Acme, Shoprite, or a Costco. If we need household supplies, we go to Target or Wal-Mart. All of our spending takes place at “Big Box” stores. Small businesses may not have all the fancy commercials or advertising that large businesses have, but they do have quality products.

Small businesses are usually run by owners, which means that they are extremely invested into the day-to-day events of their business. When I go to the grocery store, I feel like I am experiencing the McDonalization process. I just go through the check out line as fast as possible with very little communication with the clerk working there. To add onto this, many stores are removing human clerks and replacing them with “self check out.” That’s the beauty of small businesses, they have people to interact with you. Lets not forget the importance of human-to-human contact. These business owners know the product, which they are selling inside and out, so it is easier to help customers by answering questions and solving problems. Other than the human touch, small business is extremely helpful to America’s economy. Forbes Magazine had some interesting statistics about small business. “There are almost 28 million small businesses in the US.” “Over 50% of the working population works in a small business.” “Small businesses have generated over 65% of the net new jobs since 1995”. You see, small business doesn’t just offer quality products with people who know what they are talking about, but they also provide a ton of jobs for the American economy. These small businesses could range anywhere from Mom and Pop pizza shops to jewelry stores.

One example of these small businesses, which offers many jobs to Americans, is credit unions. According to the Credit Union National Association’s (CUNA) mid-year report of 2014, the nation’s credit unions employ about 270,000 people.

The origins of credit unions date back to Germany within the 19th century. Herman Schulze-Delitzsch worked with his community to organize a mill and bakery, which would sell bread and reduce prices. Many years later in Quebec, Canada, Alphonse Desjardins organized La Caisse Populaire de Levis to help the citizens have affordable credit because everyone was being charged ridiculous prices for loans. Desjardins would a few years later open the first credit union within the United States of America, the St. Mary’s Cooperative Credit Association. Credit unions’ purpose is to help the little guy, the underdog, be able to acquire goods and services at reasonable prices. Credit unions’ purpose isn’t to get the Board of Directors or shareholders rich, it is to help all the members succeed financially.

A more modern example of this is First Financial Federal Credit Union (FFFCU), based in Wall, N.J. FFFCU was started by a group of Asbury Park schoolteachers during the Great Depression. This small group of people worked together to support each other and grow. Many years later, in 2003, the credit union expanded to support all who live, work, worship, or attend school within Monmouth or Ocean Counties.

Just this week research has come out from American Customer Satisfaction Index, proclaiming that credit unions have the highest customer satisfaction score of all financial institutions. To quote CUNA on this, “ACSI…ranks credit unions substantially better than traditional banks on every component including expectations, quality, value, loyalty and having lower complaint rates. This is the seventh consecutive year that credit unions have ranked above banks.” You see, the little guy, the underdog can out-perform the bigger business of the world! Credit unions outperform banks, because they care more about their financial cliental, their member-owners. Credit unions work harder to help their members, because they have that x-factor, they have heart!

Credit unions, pizza shops, jewelry stores, and all other small businesses have a special day to celebrate how they stick it to the “Big Box” stores by providing quality goods to their communities. Saturday November 29, 2014 is the fourth annual Small Business Saturday. Small Business Saturday is a national event to give back to the small businesses of America. All over the USA, small businesses will be working together to help customers see how they are such an essential component of the community. These businesses provide to our communities through job creation, sponsorships, and quality products. So, go find those small businesses that are participating in Small Business Saturday within your community and visit them with your families. If you would like more information just go to their Facebook page!

So, go visit your neighborhood small business! Go say hi to your local credit union employees! Go and witness these everyday underdog stories prevail right in front of your eyes!

Gratitude and Credit Unions. Can they Coexist? 

By: Austin Rigby
November 20, 2014

I LOVE THANKSGIVING! Let me paint a picture for you…The morning starts off with my dad, sisters, and I driving into town for the annual Turkey Bowl. After touchdowns, missed tackles, and injury close calls, we drive home and kerplop on the couch. While we try to be lazy and watch football, my mom tries to rouse us kids to help with the Thanksgiving meal. Eventually this tug-of-war ends, when the meal begins. There is nothing like sitting down to a meal with your parents, sisters, crazy uncles, loving aunts, cousins, and neighbors. Then there is the feast. It is filled with turkey, stuffing, hot rolls, mashed potatoes, sweet potatoes, cranberry salad, and did I mention the mashed potatoes? FYI, I LOVE MASHED POTATOES! After dinner, we end up trickling back in front of the TV to watch the next football game. Then, to the displeasure of our bodies, we return to the kitchen for pie. I think I could survive on a diet of just mashed potatoes and pie! Games, football, sleeping, and picking at food continues for the rest of the evening. There is nothing like Thanksgiving!

But there is one part that I look forward to the most about Thanksgiving. More than football. More than sleep. Even more than pie and mashed potatoes. It is the gratitude shared. As we are sitting there ready to dig into the feast, my dad expresses some of the things for which he is grateful. Then slowly, one-by-one, we go around sharing with our loved ones the things that matter most to us. While we are waiting to feed our faces, we take a few moments to feed our souls. Now we aren’t perfect, someone always tries to “sample” some of the food while we share what we are thankful for, but this can’t outdo the effect on us, how this brings us closer together as a family.

Gratitude is a gift, especially when we share it with loved ones. As G.K. Chesterton said, “I would maintain that thanks are the highest form of thought; and that gratitude is happiness doubled by wonder.” So for this Thanksgiving, I want to share with you some of the things that I am grateful for. I am grateful for car heaters (mine is nonexistent), getting my college degree, my family, smiles, raspberry pie, and credit unions. There I said it: credit unions. It might seem kind of self-promoting if I am talking about how I’m grateful for credit unions on a credit union Web site, but let me explain.

When I was a kid, I came home from school one day and saw boxes sitting on the dining room table. My parents came into the room and went on to declare that my dad had decided to walk away from his job…“but don’t worry,” they said. “He will have a new one in the max of six months.” My new worries vanished, and my sisters and I decided to carry on with life. Time passed, and soon we hit the six-month mark and still my dad had no job. Then we hit the 10-month, then a year, then a year and a half, and THEN two years. I couldn’t believe it; my parents promised that Dad would have a job by now. A few weeks latter, I came home from school to hear some good news: my dad had a job interview with a credit union. When he told us kids this, I wondered what in the world is a credit union? To our delight, my dad got the job and blessings have followed. One blessing is that with a job, my dad could buy food for us to eat, clothes to wear, and supplies to go to school. Secondly, because my dad worked at a credit union, I have had an opportunity to see how they worked, first-hand. You may have heard that credit unions value their financial participants. If you are a part of a credit union, you become a member, and instantly part of a big family. At the credit union my dad works at, I have seen countless people coming in and developing friendships with the tellers, loan officers, and administrative staff. Credit unions have that family feel, which mirrors what I love about my own family. I am grateful that credit unions have helped my family and given them a financial institution that treats them like family.

Henry David Thoreau said, “I am grateful for what I am and have. 
My thanksgiving is perpetual... O how I laugh when I think of my vague indefinite riches. 
No run on my bank can drain it for my wealth is not possession but enjoyment.” This Thanksgiving season I invite you to think about the things for which you are grateful. We learn from Mr. Thoreau that gratitude is one account you can’t over-take from. As you think about the things for which you are grateful, write them down, and share them with those you love or with us here at Banking You Can Trust. Looking at the things for which you are grateful will give you an opportunity to reflect on the good things in life before attacking the problems. G. B. Stern said, “Silent gratitude isn’t much use to anyone.” So, share.

Actually, the Research Shows! 

By: Austin Rigby
November 18, 2014

American Customer Satisfaction Index Ranks Credit Unions as No. 1 in Financial Services

When I was in college, I had a sociology professor who told us students about his experiences whenever he interacted with colleges, neighbors, and friends. He was surprised to hear people proclaim “facts” about different subjects, when these “facts” were based off of their opinions or misguided “common sense.” Whenever my professor heard such an outlandish remark, he would reply “actually, the research shows,” and then go on from there with legitimate research to support such claims. Many times after my professor got done rebuking the audience with actual research, they would be stunned and walk away.

While many people have different opinions when it comes to comparing banks with credit unions, lets follow my professor’s advice and “actually see what the research shows.” The American Customer Satisfaction Index (ACSI) released this month included findings about customer satisfaction amongst different financial institutions. To quote the Credit Union National Association, “ACSI is the only national cross-industry measure of customer satisfaction in the United States. The Index measures the satisfaction of U.S. household consumers with the quality of products and services offered by both foreign and domestic firms with significant share in U.S. markets.”

And in this research, credit unions ranked first in customer satisfaction with a score of 85 out of 100, while the average bank score was at 76.

So what measures was ACSI using in their research? Some aspects were expectations, quality, value, loyalty, and lower complaint rates. Guess who had better scores on each component? Yes you got it; it was credit unions!

Claes Fornell, ACSI Chairman and founder had this to say: “A growing number of consumers are finding that the best way to avoid bank fees may be to avoid banks altogether. Credit union membership growth broke records in 2014, and their customers are far more satisfied. The structure of credit unions means they can charge lower and fewer fees, but they still manage to provide superior service in nearly every area, from tellers to websites. Banks can’t easily give up the revenue that fees generate, but clearly the pressure is on to improve service.” Is this opinion? No! It’s fact!

The research from ACSI continues to support credit unions. ACSI found credit unions were first in five categories within financial institutions. They were first in the availability of products and services, the ease of making account changes, interest rate competitiveness, in understanding account information, and in courtesy and helpful staff.

Still don’t believe the research? Well, two independent sources measured consumer trust between credit unions and banks. In August, the Chicago Booth and Kellogg School Financial Trust found that credit unions received a trustworthy score of 60% in comparison with banks who had a score of 30%. Just last month, a Harris poll found that credit unions have more trust than banks. Trust in credit unions is even staying steady, while banks’ trust is declining.

Why are customers finding credit unions to be more useful in their financial needs? The research shows a couple of reasons. One reason is because at credit unions, people aren’t seen as customers but as members. By being a member, people have their own voice about the direction the financial institution goes. Also every member of a credit union has an equal share of ownership. This means the members of the board have an equal percent of ownership as the new guy who just opened an account.

The second reason why customers members are finding credit unions more useful is that they have higher expectations out of their financial institution. The members want it better, so the staff members at the credit unions do all they can to provide this. The past two years, member expectations have increased with a byproduct of increased satisfaction scores for credit unions.

Third, people are far more loyal to credit unions than banks. In the ACSI survey it was found that people would continue to do business with credit unions is higher (nearly 20%) than all other measured financial institutions.

So take your newly acquired knowledge and whenever someone brings up how banks are better than credit unions, you can proudly proclaim, “Actually, the research shows!”

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!

4 Rules to Live By When Making an Offer on a House 

August 06, 2014

Buying a house is a little like asking someone to marry you (scary, right?). In both cases, you make your offer believing there's a good chance you'll get a yes, but you know you could get a no. If the answer is yes in either situation, your fates will be linked for many years to come—possibly until “death do you part”. But if you don't get an immediate answer, the wait can be excruciating. A recent article by U.S. News & World Report may not be able to help you with your love life, but if you want your house offer to be greeted with a yes—and a quick one—here are four rules U.S. News & World Report recommends you follow when putting yourself out there to get the right “yes”.

1. Be likable. The old saying is true: money talks. But so do you. And you don't want to say anything that could turn off a seller. Besides, even though they’re selling their house, it’s still their home until it sells.

"You're most likely buying someone's home that they have memories and a lot of emotional ties to," says Marc Takacs, a real estate agent with Keller Williams Realty in Atlanta. So if the seller is present when you see the house, keep quiet about your grand plans for landscaping or knocking down a wall in the living room.

"Don't tell someone how bad, ugly, stupid, et cetera, that someone's house is, and then try to buy it. That doesn't work," Takacs says.

Well, it might, if the homeowner is desperate and primed to sell, but if there are other buyers circling, you've given the seller an excuse—and a personal one at that—to reject your offer and accept someone else’s.

Another no-no, according to Takacs, is being high-maintenance. "Don't overstay your welcome," he advises. "I don’t think anything irritates a seller more than when a buyer visits a house too much or stays for too long."

He also suggests that when you submit your offer, avoid making unreasonable demands such as a lightning-fast closing date. "Try to be considerate of the fact people are trying to carry on with their lives, move, and all the other stuff that goes along with that. Being pushed out of your house can be very unsettling," Takacs says.

2. Don't be stingy with your offer, but don’t go overboard. If you offer exactly what the seller is asking, you will get his or her attention and probably their respect and appreciation. In many cases, your offer will be accepted. Offer a tad bit more, and you may chase other buyers away whose offers are at or below the list price.

At the other end of the spectrum, a lowball offer may insult the homeowner. In some instances, it may be shrewd to offer significantly less than the list price, but first consult your real estate agent, who will probably have the best read on what your seller is likely to accept.

A VERY important rule of thumb: If you’re looking to make the strongest offer possible, make sure it’s not so high that you can’t afford it, warns Kelly Long, a Chicago-based money coach and member of the National CPA Financial Literacy Commission. "Don't offer more than you can practically afford, even if you're approved for more," she says, adding that this can easily happen if you're looking at a house that's out of your price range.

"If you buy it for more than you can afford, you'll end up hating the house and yourself in the long run," she says.

That’s because the more expensive your house is, the higher your monthly payments will likely be. Long points to the rule of thumb that a monthly payment shouldn't exceed more than 28% of your gross income. That includes taxes and insurance, she adds. Stay within budget.

3. Be ready for a yes. Yeses can be just as daunting as nos. If the seller says no, the next steps are clear enough: You make a better offer, or continue house hunting. But even if the seller accepts the offer, you don't have those front door keys yet.

"You may be preapproved based on your credit report and supplying your W-2, but the [mortgage] application process is much more involved and requires extensive documentation in a short window of time," Long says. "Make sure you have some time set aside to gather all the necessary information in the week following the offer’s acceptance. You’ll also need to schedule, attend and pay for an inspection in that first week, so make sure you have the money on hand to pay for that."

4. Don't sabotage yourself to seal the deal. Speaking of that contract, be careful about what you put in it.

Yes, you want the house. You want the sellers to like you. But in an effort to get those keys from the sellers, don't be their doormat.

According to Kent Sisk, an account executive at NexTitle, a title and escrow agency based in Bellevue, Washington, "the market is so hot right now [that] many buyers are waiving the inspection period, sometimes waiving the inspection altogether, in order to get their offer approved."

Not smart, Sisk says.

After all, you don’t want to learn after you buy the house that the roof leaks or there's mold hidden away in the ventilation. Or you may end up berating yourself if you waive the appraisal contingency, which lets you back out of the deal if the lender concludes the appraised value is less the sale price, and later learn that you vastly overpaid for your home.

Ideally, your offer will be one that makes everyone, the seller and you, happy and reassured that everything between now and the closing will go smoothly. If you feel like you need to win this house at all costs and things go badly after your offer is accepted, not only will you lose—it will definitely cost you.

"Out of sight, out of mind" Financial Philosophy. How cookies taught me to be better with my money. 

By: Gabrielle Leach

Cookies are great. My will power is not. The other day I sat down with a roll of Oreos while I was watching late night TV. As Jimmy Fallon was telling his jokes I was sitting comfortably on the couch blissfully eating my cookies, until I sadly realized I had only one left. Unsure how I had managed to eat an entire sleeve of cookies I rationalized with myself about the final one:

If I eat it, I would have no cookies for tomorrow.

But it is only one cookie, and cookies are there to be eaten. After all I will probably get more cookies in the future.

But I know that it is bad for me to eat all of the cookies, and I know I am going to regret this when I wake up tomorrow.

Oh well, YOLO, after all I’m young, and it’s not that big of a deal

I gave into the little devil on my shoulder and of course the next morning I saw the cookies again as I stepped onto the scale. It’s funny how bad decisions tend to remind you that you’ve made them. I wanted to fix this problem so that I would be unlikely to easily give into temptation again. I then went down to the pantry and hid the rest of the Oreos. Out of sight, Out of mind. It was at this moment that I realized I rationalized eating that last cookie the way I rationalize spending my money.

“Out of sight, Out of mind” philosophy can be applied to cookies, as well as finance. If you’re like me, and have moments of impulsive weakness, you may see some irregularities in your monthly spending.  Opening up a second bank account, separate to the one you regularly use, can really help you save up an emergency fund. Sometimes seeing a lot of money in one account can make you feel as though the money is there to spend. By separating the money into two different accounts, you can save money with out realizing it.  

Currently I have an account at a credit union as well as a traditional bank. I use my traditional bank account regularly but I keep my emergency fund with my credit union because they offer better rates and have a very low minimum balance, so I wont get charged if I have to use everything in the account. Each month I automatically put a piece of my paycheck into my second account for my emergency fund. I find that this system gives me the ability to control my money and the peace of mind that comes with financial security.

While eating the last cookie isn’t nearly as dangerous as spending your last dollar, the same philosophy can still be applied to help you manage your will power. Cookies are great. Overindulgence is not. By understanding your financial weaknesses and utilizing different tactics to most effectively manage your money, you can afford to buy your cookies, and eat them too.

The Fitness-Finance Connection 

By: Gabrielle Leach
July 09, 2014

Many people strive for the same goal—to have their scales weigh less and their wallets weigh more. But could improving ones physical fitness provoke positive signs fiscally? Recent studies have shown a connection between living a healthy lifestyle and managing healthy finances.

More Exercise = More Productivity
Increasing your daily exercise can lead to an increased performance at work allowing you better opportunities for raises and promotions. A study, published in the Journal of Occupational and Environmental Medicine (JOEM), illustrates that workers who engage in moderate exercise have higher work-quality and better job performance than those who lead a sedentary lifestyle. According to the study, physically fit employees get along better with coworkers, take fewer sick days, and often perform more work, using less effort. This means that getting in shape could lead to increased productivity and career growth.

Less Doctor Visits
Getting sick can ruin your day and your budget. As healthcare costs increase, it is important to lower your risk by creating a healthy lifestyle and getting daily activity. Dr. Brian Martinson one of the JOEM study's lead investigators, explains that the study showed that increasing physical activity to even moderate levels was associated with declines in annual health care charges of $2,000 on average. Exercise is also a known stress reliever and can reduce your risk of getting diseases that require long-term treatment (and long-term costs), like diabetes. 

Self Discipline is Important
It isn’t news that maintaining a healthy diet and a balanced budget requires serious will power. Some researches hypothesize that by monitoring the intake of food and exercise, one will begin to analyze other areas of their consumption. The same amount of self-discipline that is required to schedule workouts and count calories can be transferred over to limiting impulsive spending and sticking to a monthly budget.

Unhealthy Habits Can Kill…Your Wallet
Costly vices like drinking alcohol and smoking cigarettes can really add up. According a study done by the U.S. Department of Labor in 2009, the average American consumer spends $49,638 each year. Of this total 0.9% is spent on alcohol and 0.7% is used to purchase tobacco products. Today, the average annual amount spent on cigarettes is close to $2,000. Eliminating unnecessary purchases can free up funds to be reallocated or saved for better use. Cutting out junk food and needless snacking can also help save some serious cash.


The correlation between being physically and fiscally fit is still being studied, although it’s clear a relationship exists. Leading a healthy lifestyle with moderate daily activity can improve your job performance and prevent illness. By evading sickness you can have more free time and can make better decisions about your future. This is why many employers are starting new fitness incentive programs.

While this does not mean that getting in shape will make you a millionaire, it can help teach you the habits necessary to lead a financially healthy lifestyle.


Credit unions are non-profit cooperative financial institutions that believe in fair and honest banking and are dedicated to the financial well-being of their members. They are able to provide superior service because they don’t report to shareholders, making their members their number one priority. To find the right credit union for you and receive more information visit To receive other financial articles, tips, or advice, follow our Twitter account @BankingYouTrust and find us on Facebook at

New Jersey credit unions will be represented at the Belmar 5 Mile Run this Saturday, July 12th and supporting the runners with refreshments. Visit our table to grab a bottle of water and information on how a credit union can help you live a well-balanced financial life. 

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