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Freedom First Credit Union Taking Steps Toward Financial Improvement for the New Year

Q: I’d like to focus on improving my finances in 2020, but there are so many areas that need attention. Where do I start?

A: The start of a new year is a wonderful time to make important changes in your financial life. Lucky for you, you don’t have to go it alone. Freedom First will walk you through some financial improvements you can make this year and continue to guide you every step of the way.

We’ve broken down some of the most popular financial resolutions into concrete steps and outlined the ways Freedom First can help you implement each change into your life.


Freedom First Credit Union How to Recognize and Protect Yourself from Scams

Scammers are always trying to con victims out of their information and money. They are, unfortunately, often successful. Scammers are expert impersonators, using sophisticated technology and their best acting skills to convince you they represent a business, institution or government agency you may trust. They also tend to prey on the most susceptible victims, including those who are down on their luck or are exceptionally naïve and trusting.

Here at Freedom First, our biggest priority is your financial wellness, and that includes keeping you and your money safe. To help you achieve it, we’ve put together this guide about recognizing the signs of fraud and protecting yourself from scams.


Freedom First Credit Union Financial Preparation for 2020

The new year is almost here. Are you ready?

Remember the Boy Scout motto: Be prepared! A brand-new year, always ripe with resolutions, is the perfect time to reassess your financial attitude, improve, and vow to do more.

“It’s a time of planning for going forward,” says Sallie Krawcheck, co-founder of Ellevest. “We see a lot of people, often over the Christmas holiday, but certainly in the new year, taking stock of where they are on their personal finances and investments.”

Have you taken any steps to prepare for the financial realities of the coming year?

Here are some tips to get you started.


Freedom First Credit Union 6 Misleading Advertising Ploys to Beware of this Black Friday

Here at Freedom First, we hate to see your money go to waste, so we’ve put together a list of misleading advertising schemes you may come across when hunting for deals this Black Friday. Be an informed consumer and shop savvy!
 


Freedom First Credit Union What is the Prime Rate and Why Does it Matter?

Q: What exactly is the “prime rate?” How does it affect me as an individual?

A: The prime rate is the current interest rate that financial institutions in the U.S. charge their best customers. These customers have excellent credit, and are eligible for this optimal rate because their loans carry the lowest risk for their financial institutions.

The prime rate is also referred to as the prime interest rate, prime lending rate or simply prime. You may hear this term thrown around a lot in the financial news or when reading up on loans and mortgages. That’s because the prime rate affects every level of the economy.

We have answers to all your questions on the prime rate.


Freedom First Credit Union Understanding The Credit Card Trap

Did you know the average American household carries $6,358 in credit card debt?

 

If that doesn’t sound too alarming, consider this: A debt of $5,000 with an interest rate of 24.99% (which is the current rate of a typical Capital One or Citibank card), where only the minimum payment is made each month and no additional charges are made to the card, accumulates $4,823 in interest over five years. That means the cardholder would be paying nearly double the amount that was originally spent!


Freedom First Credit Union 6 Ways To Keep Your Finances Intact This Holiday Season

‘Tis the season to shop until you drop-or until you go broke. But you don’t have to overspend.

 

There’s no need to rack up a huge credit card bill or go into debt just to cover your holiday expenses. Enjoy a stress-free season by keeping your spending in check with these six tips:


Freedom First Credit Union What To Buy And What To Skip This Black Friday

It’s the bargain-hunter’s favorite season-or is it? Before you brave the crowds this Black Friday, take a few minutes to read through our list of what to buy and what to skip so you come home only with true bargains.


Freedom First Credit Union 7 Home Improvement Hacks

You’ve finally finished scrubbing and purging your home from top to bottom in honor of spring. And now, with every surface, closet and room sparkling clean, you’re starting to see all the areas that could use a face lift. Maybe you’re hankering for a complete kitchen makeover. You might be dreaming of a fresh coat of paint for your bedrooms. Or maybe your window treatments are in desperate need of an overhaul.


Freedom First Credit Union How Much Money Should I Keep in My Checking Account?

There’s lots of talk in the world of personal finance about how to best manage a savings account. You might read up on financial experts who recommend keeping three to six months’ worth of living expenses in your savings account, or maybe you’ve seen a tip about socking away enough money to cover larger expenses. Either way, there’s lots of discussion about the ideal amount of money to keep in a savings account.


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