6 MONTH FINANCIAL CHECK UP!

Review your budget- this tip is key to keeping sure you are in line with your financial goals. Whether you have a vacation planned, educational expenses or even a mortgage, it’s important to check your budget at least twice a year.  You want to be sure that you have the money set aside for bills, unexpected expenses and of course, to enjoy life.

Review your debt- Debt can be a good thing. Some debt means you are growing financially and working towards making your dreams come true… But then there is bad debt or debt that prevents you from making your dreams come true. Sit down and review your debt. See where you might be able to pay a little bit more or see what you might be able to pay off. Also, check to see if your debt has decreased since the last time you reviewed your budget. Are you making progress? Also look into the option of refinancing for a better loan rate. For instance, if you have an auto loan with the dealer or another financial institution, come talk to a Tropical Financial rep to see how we can better serve you by perhaps lowering your rate.

Check your credit report- AnnualCreditReport.com gives you a free credit report once a year. It’s  important to look into your credit report and be sure that all is okay, especially if you are looking to apply for a loan and more so if you haven’t reviewed your credit report in over a year. You want to be sure that you are up to date and you know what is being reported. Plus, reviewing your credit report gives you time to dispute any claim that may not be yours.

Review your future- No matter what age you are, it’s important to start preparing for your future. Whether your future is college, retirement or even a house you call home. It’s important to set up and monitor retirement options and investments. The more money you can save now, the better off you are for tomorrow. Twice a year it’s a good idea to talk to a financial advisor if you have one and review the best options for you.

Insurance is another great thing to review during your financial check up. Look to see what you are paying and ask questions, look to see if there is a better option at a better price. Maybe you’ve reached an age where your insurance is ready to drop in price but you haven’t seen that on a statement. I know when I turned 25 my insurance decreased but I had to call up and make sure that change took place. So stay on top of your finances.

No matter where you are financially, it’s important that you do a mid-year financial check up to ensure you’re on the right path. And hey it’s a great time to prepare for tax season too. Who doesn’t want to get ahead of the game. While doing your financial check up, why not start working on your taxes. It will help with the stress of tax season!

^Alysha

TFCU HAS ALLOWED ME TRAVEL PERKS!

It’s summertime and for many that means vacation time. In May, I wrote a blog comparing Groupon VS Living Social when it comes to travel.  Turns out they are both good options when planning a family vacation because who doesn’t love to save money?

I am all about finding the best means of travel that will cost me the least amount of money, or I am always looking for Free money. Yup, I said it… Free Money! And no, I am not crazy.

What’s the Catch?

There is no catch, instead I want to share with you a trick that I learned about my credit card early on that I still use to this day and one I will always use. So what is that trick… Rewards Points! Have you heard of them? Do you have them?

At Tropical Financial one of the credit cards that is offered to its members is the Tropical Financial Visa Rewards Card. Or as I like to call it, money machine or my dream come true.

With the TFCU Rewards card, you earn one rewards point for every dollar you spend. So, chances are you use your credit card on a regular basis so why not build up points? Why not earn something for spending your money. Once you accumulate enough points, you can then cash them in for cash. Yup, there you have it… FREE Money! 

Of course there are many others you can cash in your reward points for such as gift cards, appliances, electronics, and so much more. The options are endless.

But how can I travel?

When I first applied for my credit card, I was given bonus points…. That’s FREE Money right there. I used my credit card for everyday purchases that I knew I could pay back, like gas, groceries and even work expenses (where I knew I would get reimbursed). All of those dollars added up to points which I then turned in for cash.

There have been numerous times, not just one or two but several more times where I have exchanged my points in for CASH. Cash that I didn’t have, cash that wasn’t in my budget and I was able to use to take a last minute vacation.

The points add up quickly when you use credit card for daily purchases. You just want to be sure you don’t get in over your head with your credit card balances. The time it takes me to save up points varies depending on my spending but hey an extra $150 is always nice when going out of town or an extra $200 is great for a last minute road trip to see a friend this summer.

The way I see it, extra cash is always awesome! So, get spending (wisely of course), start earning those points and start enjoying that extra money and those vacation too!

^Alysha

VACATION TIME!!!

THIS is a very big year for me, as I will be celebrating a milestone birthday and am going to be celebrating in a BIG way – a European cruise! In the planning process we discovered taking a cruise like this was going to cost a lot more than we anticipated, but I didn’t want to use that as an excuse to ignore such a big milestone in my life.

I bet just about everyone reading this can relate to a similar story. The want, or even need, for something special, but not having enough savings to cover the entirety. Credit Cards are usually the first place we turn to when we put ourselves in these situations, but there really is a better way. Tropical Financial Credit Union has a special vacation loan to help members take those special trips without breaking the bank. The great thing about taking a vacation loan over using credit cards is that it’s a fixed rate for a fixed period of time, so you’ll know exactly what your payments will be and how long it will take to pay off that dream vacation. PLUS it allows you to save the credit cards for the incidentals while ON your trip. Total WIN-WIN.

Now there’s no reason not to take that once-in-a-lifetime vacation. I’ve got my trip booked and paid for, now the only thing left is packing!

^Amy