Checks hold an odd place in our personal finances. In many ways, checks seem like relics from a previous era. We maybe write one or two checks a month (usually for rent or similar bill-paying situations where electronic payment simply isn’t an option). This is vastly different from only a few decades ago, when checks represented more than 85% of all non-cash retail payments. (Can you imagine whipping out a checkbook in line at the grocery store? Times have certainly changed!)
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.
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.
September 2021 Budgeting from Halloween to Christmas
One of the most effective tools for preventing a large-scale financial disaster is an emergency fund, an amount of money that is set aside to cover unexpected expenses, or to keep you afloat if no regular income is coming in.
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:
Navigating a new auto loan can be confusing, let alone considering options to refinance. Do you have questions about refinancing an auto loan? We want to help! Our Consumer Relationship Manager, Josh MacDonald, breaks down common FAQs on refinancing:
Fall brings beautiful colors, apple orchards, pumpkin patches, delicious food, and spending time with the ones you love. But it also brings up the age-old question: when should I switch from A/C to heat? We asked a local expert, Full Service Heating & Air Conditioning, to find out more and discover ways to save money on utilities in the winter.
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: