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When you turn the calendar to a new year or when you have a change in your life stage, it's a great time to look at your financial situation. By taking a series of thoughtful, disciplined steps you can improve your financial fitness in order to enjoy peace of mind in the future.

1st CCU is fortunate to have several employees who are well-versed in how to budget. Below you'll find 25 budgeting tips and tricks provided by Jim Farone, Loan Processor III for 1st CCU.  Jim has been with 1st CCU since 2020 and he is always happy to share his knowledge with others.

Here are 25 Budgeting Tips & Tricks:

1.    Choose a “Why” 
Identifying your “Why” creates a sense of purpose and direction, making it easier to stay motivated when facing tough financial choices. Whether it's buying a home, traveling, or building an emergency fund, a clear goal will keep you focused.

2.    Set Clear Financial Goals
Setting specific, measurable, and achievable financial goals helps you create a roadmap for your finances. Whether it’s paying off debt, saving for retirement, or building your emergency fund, knowing what you want to achieve will make budgeting easier.

3.    Track Your Spending for a Month
Tracking your expenses will give you an honest look at where your money is going. This step allows you to identify areas where you can cut back and create a more efficient budget.

4.    Choose the Right Budgeting Method – Zero Based Budgeting
Zero-based budgeting means allocating every dollar to a specific category, ensuring that income minus expenses equals zero. This method helps prevent overspending and encourages conscious decision-making about where your money goes.

5.    Use Budgeting Apps
Budgeting apps like EveryDollar or YNAB (You Need A Budget) make it easier to track your income, expenses, and savings goals in real time. They automate much of the work, giving you insights and helping you stay on track without the hassle.

6.    Create Your First Budget
Start by categorizing your expenses and comparing them to your income to see where adjustments need to be made. A simple budget is a great way to begin taking control of your finances and can evolve as your financial situation changes.

7.    Be Realistic with Your Budget
It’s important to set achievable goals for spending and savings. If you make your budget too restrictive, you might give up; instead, aim for a balance that challenges you but doesn’t leave you feeling deprived.

8.    Avoiding Common Pitfalls
Avoid underestimating variable costs or forgetting occasional expenses, like gifts or annual subscriptions. Many newcomers also forget to account for unexpected expenses, which can throw off their budget if not planned for.

9.    Save Windfalls and Bonuses
Treat windfalls like bonuses or tax returns as unexpected found money and not as part of your regular income. These can provide an excellent opportunity to accelerate your savings or pay off debt without affecting your regular budgeting.
 

10.    Set Up A Starter Emergency Fund
A basic emergency fund of $1,000 is a cushion for unexpected expenses. It’s a safety net that can prevent you from going into debt when life throws you a curveball, like car repairs or medical bills.

11.    Use the Snowball Method 
By paying off smaller debts first with the snowball method, you gain momentum and motivation as each debt is cleared. As each smaller debt is cleared, additional funds are freed up to apply to the next smallest debt and so on.

12.    Pay Yourself First / Prioritize Savings
Treat your savings like a fixed expense, ensuring you set aside money for your future before paying for other items. This habit prioritizes your long-term financial well-being and builds savings without you having to think about it. 

13.    Automate Savings and Bills
Setting up automatic transfers ensures that your savings and bills are taken care of without you needing to manually handle each transaction. This reduces the temptation to spend and helps keep your finances on track.

14.    Review and Update Your Budget Monthly
Your financial situation will change, so reviewing and adjusting your budget monthly helps you stay flexible and responsive to any new goals or unexpected expenses. This allows for continuous improvement in your budgeting approach.

15.    Find an Accountability Partner
A friend, family member, or financial advisor can help you stay on track by checking in on your progress and offering support. Sharing your goals can increase your chances of success and create a sense of community around your financial journey.

16.    Look for Ways to Save
Look for local events or free activities to enjoy without spending money. Many communities offer free outdoor concerts, museum days, or festivals.  When shopping, be sure to shop with a list.  Shopping with a list helps avoid impulse buys and ensures you only purchase what you truly need. It’s an easy way to stick to your budget and save money.

17.    Use an Envelope System with Cash for Discretionary Spending
The envelope system involves allocating a set amount of cash to different spending categories. Once the money is gone, you can’t spend any more in that category, making it easier to control discretionary spending. 
 
18.    Setup Sinking Funds for Larger Expenses (Christmas, Car Repairs, Vacations, etc.)
Setting up sinking funds helps you save gradually for larger, infrequent expenses. This prevents these costs from derailing your budget and ensures you're prepared when the time comes.
 

19.    Use the 48 Hour Rule for Online Shopping
Before clicking that Buy button on Amazon, let the item sit in your cart for 48 hours to give you time to evaluate if a purchase is truly necessary, helping you avoid impulse buys. By delaying gratification, you ensure that your purchases align with your long-term goals.

20.    Invest for Your Future
Take full advantage of employer-sponsored retirement plans, especially if they offer matching contributions. Matching contributions is like earning 100% interest on your money!  Aim to invest 15% of your income to build wealth for the future.  If you can’t do 15%, don’t worry.  Start smaller and work to increase your contributions by 1% or 2% per year.

21.    Review Your Budget Annually and Adjust for Inflation
Inflation can impact your purchasing power, so it’s essential to adjust your budget yearly to reflect the rising cost of living. This ensures that you remain financially healthy even as prices increase.

22.    Always be Learning! 
The more you educate yourself about personal finance, the more confident you’ll feel making informed decisions. Regularly consuming content from financial experts keeps you up to date on the latest strategies and trends.

23.    Share Your Journey 
Talking about your financial goals can reduce anxiety about your situation. Whether it's with friends or online communities, sharing your journey can bring support and open up valuable discussions.

24.    Celebrate Small Wins 
Celebrating milestones, like paying off a credit card or hitting a savings goal, reinforces positive behaviors. Challenges like a “no spend” month can push you to improve your habits and make budgeting fun.

25.    Build Healthy Financial Habits
Consistency is key in building strong financial habits. By focusing on small, achievable changes and sticking to them over time, you can create a solid foundation for long-term financial success.

 

Achieving financial fitness is similar to maintaining physical health; it requires discipline, planning, and regular monitoring. At 1st Community Credit Union, we believe that a well-structured budget is the cornerstone of financial well-being. By creating and adhering to a budget, you can take control of your finances, reduce stress, and work towards your financial goals.

Understanding Financial Fitness

Financial fitness involves managing your personal finances in a way that allows you to meet your current obligations while planning for future goals. It encompasses effective budgeting, saving, investing, and prudent spending. Just as physical fitness enhances your quality of life, financial fitness provides stability and peace of mind.

The Importance of Budgeting

A budget is a financial plan that allocates your income towards expenses, savings, and debt repayment. It serves as a roadmap, guiding your spending decisions and helping you avoid overspending. According to Harvard's Financial Fitness Basics, creating a budget is the first step to developing a workable spending plan. 

Steps to Create an Effective Budget

1. Assess Your Income: Begin by calculating your total monthly income, including your salary, bonuses, and any other sources of income.
2. Track Your Expenses: Monitor your spending habits for a month to identify where your money goes. Categorize your expenses into fixed (rent, utilities) and variable (groceries, entertainment) costs.
3. Set Financial Goals: Define short-term goals (e.g., building an emergency fund) and long-term goals (e.g., buying a home, retirement). Clear goals provide motivation and direction.
4. Develop a Spending Plan: Allocate your income to cover your expenses and savings. Prioritize essential expenses and ensure you're contributing towards your financial goals.
5. Monitor and Adjust: Regularly review your budget to ensure you're on track. Be prepared to make adjustments in response to changes in income or expenses.

Tips for Maintaining Financial Fitness

• Build an Emergency Fund: Aim to save at least three to six months' worth of living expenses to cover unexpected costs. 
• Manage Debt Wisely: Focus on paying off high-interest debts first and avoid accumulating unnecessary debt.
• Automate Savings: Set up automatic transfers to your savings account to ensure consistent contributions.
• Live Within Your Means: Resist the temptation to overspend by distinguishing between needs and wants.
• Seek Professional Advice: Consider consulting with a financial advisor for personalized guidance.

1st Community Credit Union's Commitment to Your Financial Fitness

At 1st Community Credit Union, we offer a range of services to support your financial journey:

• Savings Accounts: Our savings accounts are designed to help you build your wealth over time.
• Financial Calculators: Use our online calculators to plan your budget, savings, and loans effectively.
• Educational Resources: Explore our blog and financial education resources for tips and strategies on managing your finances.

By partnering with us, you gain access to tools and expertise that can help you achieve and maintain financial fitness. Remember, just like physical fitness, financial fitness is an ongoing process that requires commitment and regular effort.

Start your journey towards financial well-being today with 1st Community Credit Union.

 

A loan refinance is the process of replacing an existing loan with a new one, typically from a different lender (or with modified terms from your current lender).  The new loan pays off the old loan, and the borrower then repays the new loan under the updated conditions. In short, refinancing can be a powerful financial tool for borrowers looking to reduce costs, modify loan terms, achieve other financial goals, or simplify by moving all of their loans to one financial institution. Overall, refinancing could possibly help you reduce your loan costs, improve your payment structure, and provide financial flexibility...as long as the move is right for your unique financial situation.

 

Here are 25 things to consider:

Reasons to Refinance an Auto Loan:

 

1. Lower Interest Rates: Refinancing can help secure a lower interest rate, reducing overall loan costs.
2. Lower Monthly Payments: Refinancing may extend your loan term, which can reduce monthly payments.
3. Improve Loan Terms: Refinancing can result in more favorable terms, such as a shorter loan term or better rates.
4. Switch from a Variable to a Fixed Rate: Refinancing can allow you to switch from an adjustable-rate loan to a fixed-rate loan for stability.
5. Access Better Lender Deals: You may find a lender offering more attractive terms than your original loan provider.
6. Debt Consolidation: Refinancing may help consolidate multiple loans into a single, more manageable payment.
7. Buy Out An Expiring Car Lease:  By refinancing, you can transition from a lease to ownership, which means you'll no longer worry about mileage limits, wear-and-tear charges, or other restrictions or lease-end fees.
8. Build Credit History: Refinancing could help improve your credit score by allowing you to pay off your current loan with better terms.
9. Unlock Cash Flow: A lower monthly payment means more disposable income for other expenses or savings.
10. Remove a Co-Signer: Refinancing can be a way to remove a co-signer from the loan if your credit has improved (or if your co-signer's credit has declined).
11. Relieve Financial Stress: Refinancing can provide some financial relief if you're struggling with high monthly payments.
12. Improve Loan Features: Refinancing can enable you to negotiate terms such as a deferred payment or a more flexible payment schedule.
13. Take Advantage of Improved Credit Score: If your credit score has improved since taking out the original loan, refinancing can help you get better rates.
14. Move All Your Loans To One Primary Financial Institution: Centralizing your loans at one financial institution makes it easy to access all your account information through a single online or mobile portal or account statement, saving you time when making your loan payments.

When is the best time to Refinance:

15. When Interest Rates Drop: Refinancing is ideal when market interest rates have decreased since your original loan.
16. After a Credit Score Improvement: If your credit score has increased significantly, you may be eligible for a better rate.
17. At the End of a Promotional Loan Period: If you have a variable rate and your loan’s introductory rate period ends and the rate rises, refinancing can help you lock in a lower, stable rate.
18. After Building Equity in Your Car: This is a financial strategy that can help you consolidate debt or pay for an unexpected expense. When the value of your auto exceeds the amount you owe on the auto loan, a cash-out equity refinance allows you to refinancing to a higher loan amount and receive the difference in cash. Essentially, you are borrowing against the equity in your vehicle.
19. After a Major Life Change: Following a major financial event (e.g., promotion, tax refund, or inheritance), refinancing could help you adjust the loan to your new circumstances.

How to know if Refinancing is right for your situation:

20. Current Loan Terms: If your current loan has a high interest rate or unfavorable terms, refinancing can improve your situation.
21. Remaining Loan Balance: If you owe more than your car is worth, refinancing may not be a good option, as you might not get favorable terms.
22. Total Loan Cost: Ensure the total cost of refinancing (including any fees) makes sense compared to your original loan. Sometimes, refinancing savings may not outweigh the fees.
23. Consider The Impact To Your Overall Interest Costs: When you refinance, you may extend the term of the loan to reduce your monthly payments. However, while this might make your payments more manageable in the short term, a longer loan term means you may end up paying more in interest over the life of the loan, even if the interest rate is lower.
24. Prepayment Penalties or Fees: Some auto loans include prepayment penalties* or fees if you pay off the loan early or refinance it. These charges can offset any savings you might have gained from a lower interest rate and make refinancing less beneficial.
25. If It Will Negatively Impact on Your Credit Score: Refinancing can cause a temporary dip in your credit score. This happens because applying for a new loan results in a hard inquiry on your credit report, and closing the old loan may also lower your credit score due to changes in your credit utilization and account history. However, if you continue to make timely payments, your score may improve in the long run.

By understanding these factors, you can determine whether refinancing is a smart move based on your specific financial goals. Bringing your loan from another financial institution to 1st Community Credit Union could help you save time, money, and hassle. 

If you're still not sure if refinancing is right for you, the friendly local lenders at 1st Community Credit Union are available to answer your questions and walk you through your options so you can make an informed decision knowing how a refinance could impact your financial health. Apply online to get pre-qualified, reach out to us with your questions or stop by 1st CCU during business hours in Sparta, West Salem, or Tomah. 

 

*1st Community Credit Union does not charge prepayment penalties.

 

Becoming a homeowner is an exciting and rewarding milestone. However, managing a home comes with its own set of responsibilities. Whether you’re a first-time buyer or just new to owning your current property, there are several key tips to help you adjust to your homeowner role and maintain your home efficiently. 

Below are 25 practical steps you can take to ensure your home stays in great condition while also providing a comfortable and safe living space.

1. Know Your Home’s Systems: Understand the layout of your home, including the location of the main water shut-off valve, circuit breakers, and HVAC systems. Familiarizing yourself with these areas will be helpful in case of emergencies or routine maintenance.
2. Inspect Regularly: Schedule regular inspections for things like your roof, plumbing, HVAC, and electrical systems. Catching problems early can save you money on expensive repairs down the road.
3. Keep a Home Maintenance Calendar: Create a yearly maintenance schedule to keep track of seasonal tasks. This can include cleaning gutters, servicing the HVAC system, checking smoke detectors, or winterizing pipes.
4. Prioritize Home Safety: Install smoke detectors, carbon monoxide detectors, and fire extinguishers in strategic locations. Ensure that your home is properly secured with locks on windows and doors and a working security system.
5. Know Your Insurance Coverage: Make sure you have the right type of homeowner’s insurance. Check to ensure it covers not just the structure of your home, but also personal belongings and potential liability.
6. Start a Home Improvement Plan: If you plan to renovate or improve certain areas, make a list of priorities. Plan your budget and timeline so that improvements can be done gradually and within your financial capacity.
7. Landscaping and Lawn Care: Maintain the yard and outdoor areas. Regular lawn mowing, trimming bushes, and caring for plants not only improve curb appeal but also contribute to the longevity of your property.
8. Get to Know Your Neighborhood: Build relationships with your neighbors, understand the community’s rules (if applicable), and learn about local amenities such as schools, grocery stores, and parks.
9. Have an Emergency Fund for Repairs:   While not all fixes come with a high price tag, brace yourself for the big-ticket items. These can include a new roof, new windows, new air conditioner, new appliances, etc. Sure, it might be more fun to use your cash for a kitchen renovation or bathroom remodel, but sometimes the “boring” expenses have to be put first. 

You want your home to be enjoyable for you and your family, as well as keeping it updated to increase the value of your property. It’s easier than you think. Here are some top tips that will boost the value of your home.

10. Curb Appeal:  Colorful landscaping, a power-washed walkway or a fresh coat of paint on the front door can make your home look attractive and welcoming.
11. Beautify your Bath:  Replace an outdated vanity, old fixtures, lighting or add a new tile floor. A small investment can bring a big return and give your bath an updated, modern look.
12. Kitchens are hot:  Start by swapping out just one item, such as a chipped sink or old microwave for a shiny new stainless model. Small kitchen updates will add big value to your home.
13. Pick up a paint brush:  One of the easiest and most cost-effective improvements of all is paint! Freshly painted rooms in neutral colors look clean and updated.
14. Make more room:  Increase the living space by decluttering and removing the things you don’t need or use. Clean out your closets, thin out your shelves and remove furniture that blocks traffic flow. 
15. Go big:  Feeling claustrophobic? Converting an unfinished attic or basement is always a great way to gain some extra space at a much smaller cost than building an addition. Adding a deck is another simple way to increase your space and make the most of it.

As a homeowner you have the freedom to make changes to your home so it fits your family and your lifestyle.  Whether you’re hiring a contractor or a handyman, here are some tips to keep the lines of communication open and the repair project running smoothly:

16. Ask around for recommendations for a Contractor: Before you choose a contractor, talk to your friends and coworkers about whom they’ve hired in the past and whether they were pleased. You may also want to check out a website – like www.angieslist.com – that lists local contractors and reviews about their work.
17. Get multiple bids. It’s a good idea to shop around, compare prices and check out pictures of completed projects. But be respectful of others’ time. When you invite a potential contractor to discuss your ideas and see your space, be realistic about what’s possible, mindful of your budget and open to professional input.
18. Ensure you’re speaking the same language. Your definition of “colonial style” might not be the same as your contractor’s. It may help to have pictures of what you’d like the finished product to look like. Consider visiting a website like www.houzz.com for design ideas and examples of your color and design preferences.
19. Put it in writing. Determine up front what you’re willing to spend and ensure the details of the project are all in the contract. If you request a change to the original plan, you will probably be asked to sign a change order, which includes a detailed description of the change and the cost.
20. Be friendly. You and your contractor are on the same side, seeking the same positive result. Keep in mind that construction can be a noisy, messy thing. Try not to let it irritate you. And be aware that weather can influence the schedule; if it’s raining, outside work may be delayed. Try to be patient.

Making smaller home improvements?  With good planning – and a consideration of your skills and free time – you could save a good chunk of cash on your next project by becoming a weekend DIY warrior! Here are some tips:

21. Evaluate how much of the work you can realistically do yourself. For instance, if you’re looking to add a room onto your house, perhaps you can paint the walls and stain and varnish the trim when it’s complete.
22. Set priorities. Focus on improvements that will give you the most bang for your buck first. Decide what is critical and what isn’t. You may need to rethink the scale of your project to fit your budget, and you may find simple changes – such as new fixtures, a different paint color or improved lighting – can alter the feel of a room without gutting out and overhauling the entire space. 
23. Consider less costly alternatives to project details. Do some research. You may not be aware of some of the new options available to help your vision become a reality, such as a prefabricated fireplace unit vs. traditional masonry. Or laminate or linoleum countertops instead of granite. Or stock cabinets instead of custom ones. 
24. Try to schedule your project for an “off” time of year. For instance, schedule your central air installation in winter, not summer.
25. Shop for materials that are on sale. Building supply stores often mark down items due to overstocks or other factors.

Homeownership is a journey that requires ongoing attention and effort. By understanding your home's systems, staying on top of maintenance tasks, ensuring safety and security, and preparing for emergencies, you can make your new home a comfortable and functional space for years to come. Taking small steps to stay organized and informed will help you navigate the responsibilities of homeownership with confidence. 

If your home projects require financing, contact the local lenders you trust at 1st Community Credit Union. Our experts can help you choose the home loan option that best fits your budget.  

 

The start of a new year is the perfect time for a fresh financial outlook. Whether you’re looking to build your savings, pay off debt, or plan for a major life event, taking a moment to reassess and revise your financial goals can set you up for success in the year ahead. At 1st Community Credit Union, we’re committed to helping you achieve your financial dreams, and we’ve put together a few tips to help you review and revise your financial goals for 2025.

 

Reflect on Last Year’s Progress

Before diving into new goals, take a moment to look back at your financial journey in the past year. Ask yourself:

• Did I achieve the financial goals I set for 2024?
• What obstacles did I face, and how can I overcome them in the future?
• What financial habits worked well, and what can be improved?

By reviewing your progress, you’ll have a clearer idea of what worked and what didn’t. If you were able to pay off a significant portion of debt or build up your savings, celebrate your success! If you faced setbacks, consider what factors contributed to them and how you can adjust your strategy going forward.

 

Set Clear and Specific Goals for 2025

Once you’ve reflected on last year, it’s time to focus on your goals for the new year. Make sure your financial goals for 2025 are:

 

• Specific: Rather than saying “I want to save more,” set a concrete goal, like “I want to save $3,000 for a vacation.”
• Measurable: Establish clear targets, such as increasing your retirement account contributions by $100 each month or paying off $5,000 in credit card debt.
• Achievable: Ensure that your goals are realistic based on your current income and expenses. If saving $10,000 feels out of reach, start smaller and build up over time.
• Relevant: Align your financial goals with your current priorities, whether that’s saving for a home, paying down debt, or building an emergency fund.
• Time-bound: Set deadlines for achieving your goals to stay motivated and accountable.

Creating specific, measurable, and realistic goals will make it easier to track your progress and stay focused throughout the year.

 

Reevaluate Your Budget

Your budget is a key tool for reaching your financial goals. As your life changes, so should your budget. Take time in January to:

 

• Review last year’s spending habits: Did you spend more in certain areas, like dining out or entertainment? Are there places where you can cut back to save more in 2025?
• Account for changes: If your income or expenses have changed—whether due to a new job, a move, or changes in family circumstances—adjust your budget accordingly.
• Prioritize savings and debt payments: Ensure that your budget reflects your financial goals, such as contributing to savings, paying down debt, or building an emergency fund.

At 1st Community Credit Union, we can recommend tools like budgeting apps or online calculators to help you track your spending and stay on top of your financial goals.

 

Focus on Building or Strengthening Your Emergency Fund

One of the most important financial goals you can set is to build or strengthen your emergency savings. Having an emergency fund provides peace of mind, ensuring that you’re prepared for unexpected expenses such as medical bills, car repairs, or job loss.

• Set a savings goal: Aim to set aside three to six months’ worth of living expenses. If this feels like too much to tackle at once, break it down into smaller, achievable goals. For example, save $250 a month for the next 12 months.
• Start small, if needed: Even if you can only set aside a small amount each month, it’s better to start now than to wait for the “perfect” time.
• Use a separate account: Consider keeping your emergency fund in a separate account, like a high-yield savings account, so you’re not tempted to dip into it for non-emergencies.

 

Tackle Debt Strategically

If paying off debt is a priority for you in 2025, start by reviewing all your outstanding debts, including credit cards, student loans, and personal loans. Prioritize paying down high-interest debt first, like credit cards, as it can be costly over time. Consider these strategies:

 

• Debt snowball method: Pay off your smallest debt first, then apply that payment amount to the next smallest debt. This method provides quick wins and motivation.
• Debt avalanche method: Focus on paying off high-interest debt first while making minimum payments on others. This will save you the most money in the long run.

Additionally, consider speaking with a financial advisor or a credit counselor for personalized advice if your debt feels overwhelming.

Plan for Big Financial Milestones

2025 could be the year for significant life events—such as buying a home, starting a family, or going back to school. These milestones require careful financial planning. Be sure to:

• Start saving early: If you're planning a major purchase, like a home or car, begin saving now to avoid taking on too much debt.
• Evaluate financing options: Research different loan options and interest rates to ensure you get the best deal possible for large purchases.
• Consider your long-term goals: Make sure that these big life milestones align with your financial goals and that you’re prepared to handle the expenses associated with them.

 

Automate Your Savings and Payments

To make progress on your goals, consider automating savings and payments. This can make sticking to your financial plan easier, as the money is automatically deducted from your account, and you’re less likely to forget or skip a payment.

• Set up automatic transfers: Schedule automatic transfers to your savings account, retirement fund, or debt payments each month.
• Use bill pay services: Take advantage of online bill pay to avoid late fees and missed payments.

Automation ensures that you stay consistent with your financial goals throughout the year.

 

Stay Flexible and Track Your Progress

Life can be unpredictable, so it’s essential to stay flexible. Regularly review your financial goals and adjust them as necessary. Life events such as job changes, family growth, or economic factors may require you to reassess and make changes to your plan.

Use tools like budget trackers or financial apps to monitor your progress and celebrate milestones as you achieve them.

Revising your financial goals for the new year is an empowering step toward achieving long-term financial success. At 1st Community Credit Union, we’re here to support you every step of the way. Whether it’s helping you set up a budget, offering tools for savings, or providing financial advice, we’re committed to helping you achieve your financial goals in 2025 and beyond.

Ready to get started? Reach out to 1st Community Credit Union today, and let’s make this your best financial year yet!
 

 

At 1st Community Credit Union (1st CCU), your financial security is our top priority. With online shopping becoming increasingly popular, it’s essential to stay vigilant against potential scams and fraudulent activity. Whether you're snagging holiday deals or making everyday purchases, follow these tips to ensure your transactions remain safe and secure.

Guard Your Personal Information

Never give out sensitive information like your social security number, account numbers, or online banking credentials. Scammers often pose as legitimate companies or even your financial institution to steal your details. Here are some key reminders:

• Ignore suspicious messages. If you receive a call, text, or email requesting your login information or personal data, don’t respond. 1st CCU will never ask for sensitive information this way.
• Beware of impersonators. Fraudsters might claim to represent 1st CCU or another trusted entity. Always contact us directly to verify.
• Protect your passwords. Use unique, strong passwords for your accounts, and never share them with anyone—even people you trust.

If you suspect your personal information has been compromised, contact us immediately. Our Fraud Prevention Help Center is here to assist you.

 

Monitor Your Accounts Regularly

Stay one step ahead of fraudsters by keeping an eye on your account activity. At 1st CCU, we offer tools to make this easier:

 

• Online and Mobile Banking. Use our 1st CCU Anywhere platform to review transactions, set up eAlerts, and manage your accounts securely.
• Credit Card Management. Track purchases and report discrepancies through our online tools.
• P.A.T.T. Telephone Banking. Get account updates anytime with this free member resource.

It’s your responsibility to monitor accounts daily, weekly, or monthly. If you notice anything suspicious, reach out to us right away to prevent further issues.

 

Take Advantage of Card Protection Features

Your debit and credit cards are powerful tools—but they’re also common targets for fraud. Fortunately, 1st CCU offers several features to help protect them:

 

• Lock your card. Misplaced your card or suspect it’s been compromised? Use 1st CCU Anywhere to lock your card instantly.
• Report lost or stolen cards. Call us during business hours at 608-269-8121 or toll-free at 1-888-706-1228. Outside business hours, dial 1-800-449-7728 to report the issue.
• Instant replacement. Need a new debit card? We can print one for you within minutes, so you don’t have to wait weeks for a replacement.

By acting quickly, you can minimize risks and protect your finances.

Shop Only on Secure Websites

When shopping online, prioritize security over convenience. Look for the following:

 

• HTTPS in the URL. Websites with "https://" in their address and a padlock icon are generally secure.
• Trusted retailers. Stick to well-known brands or stores with positive reviews. If a deal seems too good to be true, it probably is.
• Avoid public Wi-Fi. Never enter personal or financial information while connected to unsecured networks.

When in doubt, err on the side of caution. It’s better to miss a sale than to fall victim to a scam.

Stay Wary of Phishing Scams

Phishing is one of the most common tactics scammers use to steal your information. They may send emails or texts that appear to come from a legitimate source, like 1st CCU. Remember:

 

• Never click suspicious links. Instead, navigate directly to the company's official website.
• Verify email addresses. Scammers often use fake but convincing email addresses. Be cautious if the sender’s address seems unusual.
• Don’t trust unsolicited job offers or “romance” scams. Scammers prey on emotions to gain access to your money or accounts.

If you suspect a phishing attempt, bring the email or correspondence to 1st CCU for verification.

Protect Your Devices

Your devices play a crucial role in keeping your online activity secure. Here’s how to strengthen their defenses:

 

• Use antivirus software. Install reputable programs to shield your devices from malware.
• Enable two-factor authentication. Add an extra layer of security to your accounts by requiring a verification code.
• Keep software up-to-date. Outdated systems are vulnerable to attacks. Regular updates protect you from known security threats.

Taking these precautions ensures your device is ready to handle secure transactions.

Dispose of Sensitive Documents Properly

Fraud prevention doesn’t end online. Physical documents containing financial or personal information can also be a goldmine for thieves. Always shred documents like bank statements, bills, or pre-approved credit card offers before discarding them.

 

What to Do If You Suspect Fraud

Despite your best efforts, fraud can still happen. If you suspect your accounts have been compromised:

 

• Lock your card immediately. Use the 1st CCU Anywhere app or call us directly.
• Report suspicious activity. Notify 1st CCU of any unauthorized transactions or attempts to access your account.
• Update your passwords. Change your login credentials to prevent further breaches.

Your Partner in Security

At 1st Community Credit Union, we’re committed to helping you protect your financial well-being. By staying informed and proactive, you can shop online with confidence and avoid falling victim to scams.

For more tips and assistance, visit our Fraud Prevention Help Center or call us at 608-269-8121. Together, we can create a safe and secure banking experience.

Let’s make online shopping safe, smart, and stress-free!
 

At 1st Community Credit Union, we understand that shopping smart is key to managing your finances effectively. Whether you’re browsing online or walking the aisles of your favorite stores, finding the best deals can save you money and stretch your budget further. With our locations in Sparta, West Salem, and Tomah, we’re more than just a ‘credit union near me’—we’re your partner in financial well-being. In this blog, we’ll share practical tips to help you find the best deals and discounts, both online and in-store.

1. Start with a Plan
Before you start shopping, it’s crucial to have a plan. This means knowing what you need and setting a budget. Impulse buying is one of the quickest ways to overspend, so make a list of items you’re looking to purchase. Prioritize your needs over wants and stick to your list as closely as possible.

2. Sign Up for Newsletters and Rewards Programs
Many retailers offer exclusive deals and discounts to customers who sign up for their newsletters or join their rewards programs. These programs often provide early access to sales, special coupons, and points that can be redeemed for future purchases. While it might seem like a small step, these savings can add up over time. If you frequent certain stores, it’s worth signing up to take advantage of these perks.

3. Use Price Comparison Tools
With so many options available, it’s important to compare prices before making a purchase. Online tools and apps like Google Shopping, Honey, or CamelCamelCamel allow you to compare prices across multiple retailers. These tools can help you identify the best deals and even track price changes over time. By doing a quick price check, you can ensure you’re getting the best value for your money.

4. Look for Coupons and Promo Codes
Before you check out, whether online or in-store, take a moment to search for coupons and promo codes. Websites like RetailMeNot, Coupons.com, and Honey aggregate a wide range of discounts that you can apply at checkout. For in-store shopping, consider downloading apps like SnipSnap or using store-specific apps to find applicable coupons. Sometimes, simply searching “[store name] coupon” can yield significant savings.

5. Shop During Sales Events
Timing your purchases around sales events can lead to substantial savings. Major sales events like Black Friday, Cyber Monday, and back-to-school sales often feature deep discounts on a wide range of products. Additionally, many retailers have semi-annual or seasonal clearance sales where you can find great deals. By planning your purchases around these events, you can take advantage of the lowest prices of the year.

6. Use Cash-Back and Discount Apps
Cash-back apps like Rakuten, Ibotta, and Fetch Rewards offer a percentage of your purchase back in cash or gift cards when you shop through their platforms. These apps are easy to use and can be a great way to earn money back on your everyday purchases. Many credit unions, including a credit union near me like 1st Community, may also offer credit card rewards that can be redeemed for merchandise, travel, and more - so be sure to explore those options as well.

7. Shop at Discount Stores and Outlets
If you’re looking for brand-name items at a lower cost, consider shopping at discount stores and outlet malls. Stores like TJ Maxx, Marshalls, and Ross offer designer goods at a fraction of the retail price. Outlet malls are another great option, where you can find discounts on everything from clothing to home goods. Keep in mind that while these stores offer great deals, it’s still important to compare prices and make sure you’re truly getting the best value.

8. Take Advantage of Loyalty Programs
Loyalty programs offer rewards for repeat customers, such as discounts, points, or early access to sales. Many grocery stores, clothing retailers, and even restaurants have loyalty programs that provide significant savings over time. If you shop at certain stores frequently, joining their loyalty program can lead to big savings in the long run. Be sure to use any accumulated points or rewards before they expire.

9. Buy in Bulk When It Makes Sense
Buying in bulk can be a smart way to save money, especially on items you use regularly. Warehouse clubs like Costco and Sam’s Club offer bulk items at lower per-unit prices. However, it’s important to be strategic about what you buy in bulk. Stick to non-perishable items or products with a long shelf life, and always calculate the unit price to ensure you’re getting the best deal.

10. Consider Shopping Secondhand
Shopping secondhand is not only budget-friendly but also environmentally conscious. Thrift stores, consignment shops, and online marketplaces like eBay, Poshmark, and Facebook Marketplace offer gently used items at a fraction of their original cost. You can often find high-quality clothing, furniture, and electronics at a steep discount by shopping secondhand.

Your Partner in Financial Success
Shopping smart is all about being informed and strategic with your purchases. By following these tips, you can find great deals and discounts that help you stay within your budget. At 1st Community Credit Union, your trusted ‘credit union near me’ in Sparta, West Salem, and Tomah, we’re here to support your financial journey. Whether it’s through budgeting advice, financial products, or resources to help you save, we’re committed to helping you achieve your financial goals.

Managing your finances can often feel overwhelming, but it doesn’t have to be. One of the simplest and most effective ways to take control of your money is by following the 50/30/20 rule. This budgeting strategy helps break down your income into manageable categories, allowing you to save money, reduce debt, and still enjoy life. Whether you're a first-time budgeter or looking to fine-tune your financial habits, the 50/30/20 rule can set you on the right path. Let’s dive into how this rule works and how you can apply it to your life, whether you're in Sparta, West Salem, Tomah, or surrounding areas in Wisconsin.

What is the 50/30/20 Rule?
The 50/30/20 rule is a budgeting guideline that divides your after-tax income into three main categories:

1. 50% for Needs: This includes essential expenses such as housing (mortgage or rent), utilities, groceries, transportation, and insurance. These are        the must-haves in your budget—the things you need to survive.
2. 30% for Wants: Wants are non-essential expenses that enhance your lifestyle. Dining out, entertainment, hobbies, and vacations all fall into this category. While these are the fun aspects of your budget, they should not outweigh your needs or savings.
3. 20% for Savings and Debt Repayment: The final portion of your income should be allocated toward your financial future. This includes savings (such as retirement accounts or emergency funds) and paying down debt, like credit cards, student loans, or car loans.

By following the 50/30/20 rule, you create a balanced approach to budgeting that ensures you're covering your essentials, enjoying life, and planning for the future.

Applying the 50/30/20 Rule to Your Life
Let’s say you earn $3,000 per month after taxes. Here's how you could break down your budget using the 50/30/20 rule:

• Needs (50%): $1,500
• Wants (30%): $900
• Savings and Debt Repayment (20%): $600

This structure gives you a clear picture of how much you should be spending in each category. The key is to stay disciplined and adjust as needed. If you find that your needs exceed 50%, you may need to cut back on wants or look for ways to reduce your essential expenses. Conversely, if your wants are eating into your savings, it’s time to reassess your priorities.

Budgeting in Sparta, West Salem, and Tomah: Local Insights
Living in smaller communities like Sparta, West Salem, and Tomah offers unique advantages when it comes to budgeting. The cost of living is generally lower than in larger cities, making it easier to balance your needs, wants, and savings. For example, housing costs are often more affordable in these areas, which can help you stay within that 50% allocation for needs. Additionally, enjoying local events, parks, and entertainment in the area can be a great way to satisfy your wants without breaking the bank.

At 1st Community Credit Union, we understand the financial landscape in Sparta, West Salem, and Tomah. That’s why we offer a range of services and tools to help you manage your budget, including personalized financial counseling and savings programs designed to meet your needs. Whether you’re saving for a home, planning a vacation, or simply trying to build an emergency fund, we’re here to help you stay on track with the 50/30/20 rule.

Tips for Staying on Budget

1. Track Your Spending: Use budgeting apps or a simple spreadsheet to track your expenses. This will help you see where your money is going and if you’re staying within the 50/30/20 rule.
2. Automate Your Savings: Set up automatic transfers to your savings account or retirement fund. This ensures you’re consistently saving without having to think about it.
3. Review Regularly: Your budget isn’t set in stone. Life changes, and so should your financial plan. Review your budget regularly to make adjustments as needed, especially if your income or expenses change.
4. Prioritize Debt Repayment: If you have high-interest debt, consider allocating more of your savings portion to paying it down. The sooner you’re debt-free, the more you can save for your future.

The 50/30/20 rule is a simple yet powerful tool for managing your money. By following this budgeting strategy, you can create a healthy balance between your needs, wants, and savings, setting yourself up for financial success. And remember, 1st Community Credit Union is here to support you every step of the way. Whether you’re just starting your budgeting journey or looking to refine your financial strategy, our team is ready to help you achieve your goals.
With locations in Sparta, West Salem, and Tomah, WI, we’re always nearby to assist you with your financial needs.