While the holiday season may be a time of tradition for many, changing economic factors will force many to adapt their habits to fit a tighter budget this year. According to Deloitte’s 2022 Holiday Retail Survey, shoppers plan to buy 9 gifts in 2022 versus 16 in 2021, citing rising prices. Despite this, consumers plan to maintain spending levels, spending an average of $1,455, similar to last year’s $1,463 average. Knowing that shoppers don’t expect their dollar to go as far, what options exist for budget-conscious consumers who still want to create happy holidays?
There are only twenty-four hours in a day, and how you spend each one can impact your entire life. If you frequently find yourself trying to magically turn back the clock, you may be in “time debt.”
Money can’t buy happiness – is that even true? When it comes to wealth and well-being, great minds think differently. Arthur Schopenhauer once declared, “Money alone is absolutely good,” while Seneca the Younger cautioned, “Money has never yet made anyone rich.” Perhaps a balanced perspective is needed – and as the legendary financial commentator Louis Rukeyser once quipped, “The best way to keep money in perspective is to have some.”
Now that we’ve created the Financial Wellness Dictionary for young adults to educate themselves on the most relevant terms to begin their financial wellness journey, the next step is to establish yourself at a financial institution. In today’s blog, we look at a handful of starter accounts, products, and services young adults should have or start familiarizing themselves with to continue towards financial independence.
08.04.22 Savings & Budgeting
If you did a double-take the last time you checked out at the store or paid at the pump, you’re not alone. Right now, inflation is in overdrive, and people are feeling the pinch in their wallets. Inflation may be out of your control, but you can act to take the sting out of rising prices.
The Federal Reserve raised interest rates again, but what does that mean for the average American and their finances? By knowing what United States Federal Reserve is and what power it has over our country’s economy, you can make more informed financial decisions that directly affect your future.
Debit cards have evolved quite a bit over the years. Here at American Heritage, our Independence Debit Card just keeps getting better – with new features and perks to help you save time and get more for your money. Let’s take a closer look.
07.14.22 Savings & Budgeting
Vacations are the perfect opportunity for some well-deserved relaxation and making new memories. Get the most out of your getaway by planning your trip in advance. This way, you can spend your vacation time stress-free! The last thing you should worry about on vacation is money. In this article, we offer tips or mindful spending and planning for travel.
You’re not a kid anymore, and you’ve got some exciting things to look forward to. If you aren’t heading to college, you may be starting at a trade school or joining the workforce. No matter what your next step is after high school, making smart financial decisions will help you start strong. Learning how to successfully manage your money now is an essential skill that will pay off for decades — literally!
06.02.22 Savings & Budgeting
As the temperature outside starts to rise, so does the cost of keeping your home cool. Typically, electricity rates are higher during the summer due to increased demand, leading to higher summer electric bills. If you want to secure a lower electric bill (without feeling like you’re living in a sauna), check out these 26 energy-saving tips for summer. We’ve got ideas from A to Z!
02.25.22 Savings & Budgeting
American Heritage Credit Union has partnered with America Saves to promote America Saves Week 2022! It’s never too late to start your personal savings challenge and journey towards financial wellness. #ASW2022 follows a five-day format with a different savings theme for each day. Keep reading to find the best strategies for your lifestyle.
01.06.22 Savings & Budgeting
From monthly checking account fees to surprise ATM surcharges, Americans are paying way too much for their banking. If you’ve ever gotten an unexpected bank charge – or a few of them – you know how it feels. If your New Year’s resolution is to save money, knowing about these eight common banking fees and how to avoid them is a great first step.
12.30.21 Savings & Budgeting
Maybe you overdid it with the holiday spending. Between buying presents and traveling to see loved ones, it’s easy to lose track of exactly how much you’re spending. But when you get your January statements and see all your purchases in black and white… ouch. Seeing a lower balance than you’d like in your checking account and a higher credit card bill than you expected can be just the wake-up call you need to take control of your spending.
08.12.21 Savings & Budgeting
The gap between paydays can seem to stretch on and on. To combat this, some app developers have stepped in with a proposed solution: paycheck advance apps. A way to get your paycheck early sounds like a dream come true, but what’s the catch?
07.29.21 Savings & Budgeting
Everyone knows that saving money is essential if you want to build a financially secure future. But having a general savings account may not be enough to help you get through those lean times (such as losing a job) or to cover a surprise bill (such as medical expenses or car repairs). You need to develop a solid emergency savings fund if you want to keep your finances in good shape.
If you’re a member of the armed forces, the military lifestyle and return to civilian life can come with unique financial needs, and some valuable opportunities. Here are a few tips that can support your financial wellbeing in the military and beyond.
April 1st marks the beginning of both National Credit Union Youth Month and Financial Literacy Month, so what better time to find resources to teach your child about money? Passing along your experience and insight is one of the greatest gifts you can give your kids. This is especially true when it comes to supporting their financial literacy. Building a strong financial foundation from an early age will help set them up for success throughout their lifetime. Here are four areas to focus on.
When you join a credit union, you join a community. As a member of that community, you get a say as a shared owner of the credit union as well as a host of other benefits, like financial education, events, and discounts! Your American Heritage account comes with special member prices on tickets, insurance, and more. But did you know about these additional benefits?
Spring cleaning is about more than just opening the windows and letting the fresh air in! Use the inspiration a new spring brings and dust the cobwebs from an area that may not get as much tidying as others – your finances.
03.04.21 Savings & Budgeting
In study after study, researchers have found a clear link between a lack of financial security and a variety of health issues, like high blood pressure, heart disease, and anxiety and depression. Additionally, financial problems can cause stress and relationship issues as well as make it harder for some people to access the things that keep them in the best health, like quality healthcare and nutritious food.