This That & Chit Chat

A Guide to Saving Money Effectively: Budgeting is a powerful tool that empowers you to take control of your finances and save money. When done right, budgeting can help you allocate your income wisely, minimize unnecessary expenses, and work towards achieving your financial goals. Here's a step-by-step guide to budgeting properly and maximizing your savings:

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As logical as it might seem to look for the perfect stock, bond, or mutual fund and make it your investment of choice, that’s not the best approach to meeting your financial goals. No single investment, or type of investments, provides a strong return year in and year out.

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Cyberbullying, cyberstalking, and internet scams are on the rise—how can we help kids navigate the internet safely?

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Refinancing can be beneficial if everything lines up in your favor. What can you get out of it? The list is long and exciting for someone stuck with loan payments that they aren’t happy with.

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When it comes to talking with a spouse or partner about money, many people shy away. It can be scary—but it doesn’t have to be. Positive and frequent communication is key.

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Whether you need some more space, are ready to downsize into something a bit more manageable, or are relocating to a new place, you should prepare for the emotional and financial impacts of selling your home.

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A budget is a plan for how you’ll spend your money. To create one, you divide your income (the money you get) into your expenses (the things you buy).

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Your financial institution is one of the safest places to store your hard-earned cash. The best part? All you have to do is open an account.

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Cybersecurity risks have grown just as rapidly as technology has and online scam artists are always finding new ways to lower a system’s defenses.

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Filing a tax return is a matter of following the line-by-line instructions that come with your tax form. Each form has its own set of instructions and includes a number of charts and worksheets to help you figure out if you're eligible for credits, deductions, and exemptions.

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Many major life changes, such as buying a new home, changing jobs, getting promoted, starting a business, having a child, and more, will have tax implications. But that doesn't always mean you'll owe more to the federal government.

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Even if you’re just starting your first real job—actually, especially if you’re just starting your first real job—it’s time to start thinking about retirement. That’s not a comment on how motivated or unmotivated you are, or a suggestion that you should wish your life away. It’s just reality.

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Finding the right credit card isn’t as easy as filling out the first application you get in the mail—or at least it shouldn’t be. To use credit to your maximum advantage, it’s best to shop around before picking the right card for your needs.

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If you want the best renting experience possible, there are a few rules you should follow.

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Changes to the economy, your situation, or your goals may prompt you to take a look at your budget for opportunities to save. But where do you start? These lists will help you make changes, both big and small, to your budget.

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Frugal living discussions often talk about pinching pennies or “stretching a dollar.” A penny saved is a penny earned, or so the saying goes, but is that actually the case?

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If you're building an emergency fund, saving for a big purchase, or getting money together to invest, using an insured savings account can put you on the right road.

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When shopping for a car, it's usually best to start by shopping for a car loan.

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Follow these 7 internet safety rules to help keep yourself and others safe online.

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It’s likely you use a phone, computer, or some other device every day (you’re even using one right now!). But just because you use it often doesn’t mean you can let your guard down.

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Still stashing money under beds, in ceiling tiles, or under floorboards? You may even use a safe to protect your cash. Yes, these are fun, creative ways to secure money, but they aren't great for all your income. Instead, it’s time to take safe-guarding your money a little more seriously. Checking accounts—they’re serious—and safe.

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Auto insurance is not only often a legal requirement, it's also absolutely vital to your financial health.

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Writing a business plan is an essential part of building a successful business. At its core, a business plan is a road map for your project: it establishes your purpose, it sets goals and expectations, and it forecasts the relationship between cost and revenue. Business plans exist in many forms: some formal and some informal.

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How did you decide where to open your first bank account? Where did you learn to budget or pay bills? If you have a money question now, what do you do? Who do you turn to?

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While bank and banking are universally understood and accepted terms, the term credit union is still largely misunderstood and unknown to many. Credit union is an unusual term, isn’t it? Is it just another name for a bank? Is it a credit card company? Do I have to be in a union to join?

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Consumer debt is an extremely contradictory part of our personal finances: it’s at once common and incredibly personal. According to numerous sources, the majority of US adults owe money in some way, shape or form—and yet what this consumer debt represents can vary drastically from person to person. To some, a debt might signify a major accomplishment or progress toward a large goal. To others, it might be a constant reminder of a time of crisis or hardship. The decisions that lead us to consumer debt can be thoughtful and deliberate, or rushed and misguided. It is perhaps these differences that make it challenging to talk openly about debt for fear of judgment.

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While the price tag for a college education has edged down slightly during the pandemic, it’s important to plan ahead to determine how to fun – or partially fun – tuition, fees, room, board and everything else for four (or more) years of undergraduate studies.

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Scammers target seniors more aggressively than any other group. Recognizing the most common scams helps prevent your money and personal information from getting stolen.

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Even though there are over 5,000 credit unions in the United States, many misconceptions about their structure and their services still exist. One popular-but-false assumption is that the term “credit union member” is interchangeable with the term “credit union customer.” It might seem like a harmless mistake, but the concept of membership is what sets credit unions apart from other financial institutions. A “member” isn’t an empty marketing term—it reflects your credit union’s commitment to co-operative values and shapes your entire banking experience. As a member, you’re a part owner, you have a say in how your credit union is run and you get to share in its success in tangible ways.

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What was the very first financial choice you ever made?

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According to the American Pet Products Association, nearly 70% of all US households own a pet. That translates into an estimated $86 billion spent on food, supplies, medical care and pet services in 2018. Although the love and companionship our furry (or feathered, or scaly) friends provide is priceless, it’s impossible to ignore the effect that pet ownership has on our wallet.

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Asking the right questions is an important part of every financial decision you make, and home ownership is no exception. If you’ve been thinking about buying a place, preliminary research will turn up a long checklist of questions for you to ask at every part of the process. There are questions for your financial institution, questions for your mortgage broker and questions for your real estate agent. But what about the questions you should be asking yourself?

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Like going to the gym or eating a healthy diet, saving money is one of those concepts that’s simple to grasp but weirdly challenging to put into practice. We understand its benefits. We agree that it’s essential to our well-being. We know that it’s something we should be doing. But paycheck after paycheck, it’s the same routine: after the bills have been paid and the regular expenses have been looked after, there just isn’t quite enough left over for our savings goals. We blame our lack of financial willpower and promise ourselves we’ll do better next paycheck, but more often than not, the cycle repeats itself. If this scenario seems all too familiar, consider automating your personal finances in order to pay yourself first.

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Picture this: you’re steering your shopping cart through the sliding doors of the supermarket, shopping list in hand. As you walk the aisles, there’s a strategy you can use to save an average of 33% on your entire purchase. It doesn’t require any coupon clipping or rewards cards. And the best part? You still get every single item on your list. The secret? Buying private-label products instead of brand-name products.

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Con artists cheat Americans out of billions of dollars every year. Recognizing red flags for potential scams can help protect you, your loved ones, and your hard earned cash.

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Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving them is a matter of trial and error and, as a result, there’s a lot of “credit score advice” floating around that can end up doing more harm than good. Four common credit score myths have been rounded up and debunked below:

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5 Financial New Year’s Resolutions & How to fulfill them

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An emergency fund is an essential part of your personal finances. Its importance is stressed in almost every personal finance book and budgeting blog, and yet 26% of Americans currently have no emergency fund in place. Of those who do have an emergency fund, up to two-thirds do not have the often-recommended six months’ worth of expenses saved up.

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Prepare your tax documents – One third of Americans file their taxes at the last minute. Filing late could cost you additional penalties, interest, or fees. Most common tax forms include:Wage information
Photo identification
Personal information for all filers
Previous year(s) tax returns
Charitable donations
Childcare or education expenses
Itemized medical expenses

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The Free Application for Federal Student Aid (FAFSA) is an application for financial aid made up of scholarships and grants that the government awards to students based on their needs.

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This blog post is geared to younger kids in 1st – 5th grade. It’s a great starting for when children begin talking about what they want to be when they grow up! After reviewing the comic, some great questions to ask kids include:

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If you use a cellphone or have an email account, you’ve almost certainly been exposed to an attempt at mass marketing fraud. Common examples include being interrupted by an annoying robocall just as you start eating lunch, or waking up to a suspicious message in your email inbox that somehow slipped through the spam filter. Sometimes, the attempted fraud is kind of funny—the wording is so strange or the premise is so ridiculous (“An exiled prince needs my help transferring a million dollars? Really?”) that we’re left wondering how anyone could possibly fall for such an obvious money grab.

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Budgeting is a skill that helps you make smart decisions with your money. It ensures that you’re spending less than you earn, it prepares you for life’s curveballs, and it funds your goals and your dreams. Unfortunately, budgeting is often seen as restrictive and overwhelming. Financial priorities are deeply personal, so it can be challenging to find the right combination of strategies and tools that work for you.

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Loans help finance some of our biggest goals in life. They can provide access to possibilities that we can’t afford upfront—possibilities like going to school, buying a home or starting a business (to name just a few).

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Think back to your most recent savings goal. How long did you have to save in order to reach it? Was it a concert ticket or some new shoes that took a few weeks of budgeting? Was it a big-ticket item like a new computer or a summer vacation that took a year or two of planning in advance? Perhaps you’re currently saving for an even more ambitious goal: a car, a wedding, a down payment on a home? Although savings goals vary from person to person and range in size and scope, it’s likely that your longest-term savings goal will be your retirement.

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A credit score is a number that potential lenders will use to determine whether they should lend you money, how much, and at what interest rate.

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There are some compelling reasons to buy real estate, but it's not a clear-cut situation for everyone.

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If you are in the market for a vehicle, there are several factors to consider when making your decision. Should you buy new or used? How important is reliability and safety to you? How much vehicle space do you need? Let’s break down the options:

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You rely on your financial professional to provide experience and expertise to help develop a practical financial plan for you, manage debt and establish an emergency fund, weather market volatility, create a budget, grow your assets, save for the life you want, and invest and plan for retirement — and more.

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Spending money during the holiday season can be a rush of adrenaline when imagining how much your loved one will enjoy the gift you just bought for them. But sadly, that feeling goes away in January, when you might question if you should have purchased that gift or spent that much. Kohler Credit Union is here to offer a few tips to avoid any spending regret you might have after the joy of the holidays wears off:

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Thursday, October 15th is International Credit Union Day, so we want to share a few of the many reasons why you should choose a credit union.

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The current nationwide environment is full of unknowns and undoubtedly has had an impact on many people’s lives and finances. Now more than ever, it is important for people to take some extra time to monitor and protect their credit.

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Finally, the year everyone waits for! The year we all talked about as we enter into our first year of high school. “I can’t wait until I’m a senior,” was a line I constantly said when I was growing up. Now that I am officially a senior…I’ll say, and with all honesty… I wish I was still a freshman. Days were much simpler then. College and scholarships applications weren’t knocking on my door yet and Jostens order forms weren’t due. Fears of not getting into my choice college were nonexistent and thoughts of attending my last high school events had not yet crossed my mind.

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The holidays are by far my favorite time of the year. Getting together and making memories with family…decking the halls and enjoying a hot cup of coffee as you watch the snow fall outside…and having an excuse to hit the stores for some shopping therapy and to take advantage of the endless holiday sales. But along with the joy that surrounds the season of giving, the holidays can also take a toll on your finances, causing unwanted stress and anxiety. Below are 5 tips to help you prepare for holiday spending:

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Every year, millions of people set goals and resolutions to become more fit. Many of these aspirations have to do with losing weight, eating better, or just becoming a healthier person in general. This year, Kohler Credit Union is paving the way for people like you to become fit… when it comes to your finances and financial decisions. We are proud to introduce our Financial Fitness series of blog posts… aimed to help others manage their finances, borrow smarter, grow their money and protect their future. Ever wonder what the difference is between a home equity loan and a home equity line of credit? Read all about it in our latest blog post below.

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It is hard to believe Chris and I are coming up on our first anniversary of being homeowners! I remember how excited we were when we closed on our house but also how nervous and stressed out we were leading up to those final days. When I think about it now… and how clueless we really were with the mortgage process…it would have been nice to have a simple guide for first-time homebuyers that helped break down the steps you take when buying a home. Fortunately, we had an awesome realtor and mortgage loan originator that helped guide us on the journey towards home ownership.

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Last year… right around this time… my husband Chris and I got this wild idea to start looking at houses in our hometown of Sheboygan Falls. By no means did we think we were anywhere near being able to purchase our own home but it was fun to look online and see photos of homes we “might be able to afford to someday.” While I was looking for a home with an open concept, walk-in closets and a safe location close to family… Chris was looking for a home with a decent sized garage, land in the country and a bit of a fixer-upper that, in time, he could make our own.

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Ever since I can remember, the last two months of the year have always been my favorite. Celebrating with family, eating delicious home cooked meals until you’re about to explode, decorations hung from every place imaginable and of course… the loads of presents both given and received! During those last 60 days of the year, it feels like everyone is full of all sorts of happiness, including me… until of course… I add up the receipts and look at my account balances and see how much I spent!

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