Monday, September 29, 2008
Wednesday, July 16, 2008
It's a Wonderful Life (in Credit Unions) so Don't Panic!
Savvy Saver must admit - I am a bit in shock today. After-all, did you ever think that YOU would see a "run" on a bank in your lifetime? I certainly didn't think so. I mean we've all seen "It's A Wonderful Life," a tried & true Christmas Movie centering around a frightening "run" on poor George Bailey's family-founded S&L that could have caused the downfall, not just of the S&l, but the entire town (and we will not even discuss the evil rich skinflint, Mr. Potter... boo ... hiss).
After-all, we tell ourselves, the movie is set in a time before the wonders of the FDIC and NCUA insurance funds. And quite frankly, those of us in the business of managing money are well aware of the current safety of American deposits.
But it appears that the typical California Consumer & IndyMac Bank customer is not so aware that their deposits are protected with the FDIC. And that is unfortunate.
So I, Savvy Saver, want to get the word out on how well protected Credit Union Members' deposits are through the NCUA (FDIC's cuter younger sister agency) . After all, the NCUA's insurance fund, the NCUSIF, is historically not only stronger, but more fully-funded than the FDIC due to credit unions' not-for-profit cooperative structure.
As John Radebaugh, President of the North Carolina Credit Union League will tell you, "....credit unions remain healthy due to key differences in their structure compared to banks, they (credit unions) are not reliant upon capital markets for funding - but instead are funding through member deposits." Additionally he states that "credit unions did not make risky loans like others did, so their loan portfolios are performing well despite the economy." (For even more information on the safety and soundness of credit unions, and John Radebaugh's full comments click here.)
So, my simple bloggin' post to you today is - thanks to the NCUA, your deposited money is safe at your credit union...... and yes... even that darn "Mr. Potter" bank, thanks to the good ole USofA and the FDIC!
After-all, we tell ourselves, the movie is set in a time before the wonders of the FDIC and NCUA insurance funds. And quite frankly, those of us in the business of managing money are well aware of the current safety of American deposits.
But it appears that the typical California Consumer & IndyMac Bank customer is not so aware that their deposits are protected with the FDIC. And that is unfortunate.
So I, Savvy Saver, want to get the word out on how well protected Credit Union Members' deposits are through the NCUA (FDIC's cuter younger sister agency) . After all, the NCUA's insurance fund, the NCUSIF, is historically not only stronger, but more fully-funded than the FDIC due to credit unions' not-for-profit cooperative structure.
As John Radebaugh, President of the North Carolina Credit Union League will tell you, "....credit unions remain healthy due to key differences in their structure compared to banks, they (credit unions) are not reliant upon capital markets for funding - but instead are funding through member deposits." Additionally he states that "credit unions did not make risky loans like others did, so their loan portfolios are performing well despite the economy." (For even more information on the safety and soundness of credit unions, and John Radebaugh's full comments click here.)
So, my simple bloggin' post to you today is - thanks to the NCUA, your deposited money is safe at your credit union...... and yes... even that darn "Mr. Potter" bank, thanks to the good ole USofA and the FDIC!
Tuesday, June 24, 2008
Need Help? Check out Charlotte (or America) Saves!
A number of members I talk to say - you know Savvy Saver - I know I need to save, I just can't get around to it!
Apparently they need a personal trainer, a wealth coach, a financial advisor, or maybe just their MOM to get on them to get it done.
Well guess what, Savvy Saver to the rescue, I know exactly where you can find that Wealth Coach and it won't cost you a thing.
You need to check out Charlotte Saves, (and if you're from somewhere other than the lovely Carolinas - greatest state in the USofA- you can check out AmericaSaves). Charlotte Saves can provide you with a Wealth Coach, in addition to helpful hints and guidance on how you can be financially secure .... or at least a heck of a lot more comfortable financially..... than you are now.
And get this - it's free. Yep, free! A non-profit organization, Charlotte Saves is dedicated to helping you - yes you as an American (as I've discussed before the worst savers in the WORLD) learn how to save and become more financially secure. And it's paid for - yep - all paid for by donations, grants and good stuff like that.
So today's the day! Its time to Get R Done. Click on the link, or make the call (704-556-1260). You don't want me to have to call your MOM do you??!!!!
Apparently they need a personal trainer, a wealth coach, a financial advisor, or maybe just their MOM to get on them to get it done.
Well guess what, Savvy Saver to the rescue, I know exactly where you can find that Wealth Coach and it won't cost you a thing.
You need to check out Charlotte Saves, (and if you're from somewhere other than the lovely Carolinas - greatest state in the USofA- you can check out AmericaSaves). Charlotte Saves can provide you with a Wealth Coach, in addition to helpful hints and guidance on how you can be financially secure .... or at least a heck of a lot more comfortable financially..... than you are now.
And get this - it's free. Yep, free! A non-profit organization, Charlotte Saves is dedicated to helping you - yes you as an American (as I've discussed before the worst savers in the WORLD) learn how to save and become more financially secure. And it's paid for - yep - all paid for by donations, grants and good stuff like that.
So today's the day! Its time to Get R Done. Click on the link, or make the call (704-556-1260). You don't want me to have to call your MOM do you??!!!!
Thursday, June 5, 2008
Why You Just Can't Save Enough
Another terrific and yet slightly hot morning here in the Carolina's and I've just found a super hot article at CNN.Money.com. The reporter carefully builds her case for the terrible PCS affliction and I think, by gosh, she's got it! Well, not the affliction but she nails down why so many of us living in one of the wealthiest nations in the world are the worst at actually Saving (and thereby Having) any Money.
When the CNN.Money.com reporter asked Mary Claire Allvine, a financial planner in Chicago, if she had any tips to avoid PCS, she suggested to a. simplify the problem and b:
Sound advice Mary Claire - we commend you for simplifying the problem and clearly laying out a brilliant plan:
Well there is another vital step in the cure - dump your high-living consumption-grabbing friends .... but you'll have to read the article to fully understand!
Watch for the *PCS Telethon coming soon to a public TV station near you!
When the CNN.Money.com reporter asked Mary Claire Allvine, a financial planner in Chicago, if she had any tips to avoid PCS, she suggested to a. simplify the problem and b:
"Instead of limiting your spending so you can save what's left, decide first what you'll save and learn to live on the rest. And get it out of your hands as fast as you can. Signing up for automatic withdrawals, through a 401(k) at work or in a taxable mutual fund account, (OR BETTER YET A CREDIT UNION SHARE ACCOUNT!!! - edits mine - SS)
will help you a lot."
Sound advice Mary Claire - we commend you for simplifying the problem and clearly laying out a brilliant plan:
Save First, Live on the Rest - the only real cure for PCS*.
Well there is another vital step in the cure - dump your high-living consumption-grabbing friends .... but you'll have to read the article to fully understand!
Watch for the *PCS Telethon coming soon to a public TV station near you!
Tuesday, June 3, 2008
Meet the Dolans and Save?
Good Morning! Savvy Saver here - I just checked out an interesting link from AOL Finance to Dolans.com. Now the Dolans are good people with sound advice about saving. Their website at Dolans.com is very professional and Daria Dolan's new video is a lovely Bank Fee Alert which will be very helpful to the average consumer.
Fortunately for YOU, though, YOU are NOT the "average" consumer. YOU are a credit union member and you can take the "Bank Fee Alert" Daria so kindly provides and go one financially savvy step further!
See Daria is talking about a number of BIG BANKS who are going up on their ATM Surcharge fee (to non-customers who use their ATM) from $1.00 to $2.50 to now $3.00! Daria is very helpful in talking about how to avoid the fee and save up to $300 a year by planning ahead and finding your nearby "bank" ATM to use.
What Daria fails to mention..... is what YOU the credit union member has known for sometime. You can Save over $300 a year simply by being a CREDIT UNION MEMBER.
Because Credit Union Members know that many if not most credit unions belong to Surcharge FREE ATM networks and encourage their members to use them. For example, the Savvy Saver's Credit Union, Carolina Postal Credit Union, belongs to the CashPoints ATM Network in North Carolina (thank you State Employees Credit Union - founder and ultimage underwriter/sponsor of CashPoints ATMs!!) and consequently OUR members (and many other NC credit union members) can use any of the nearly 1,000 CashPoints ATMs in North Carolina and NOT be charged a $3.00 surcharge..... or for that matter ..... any kind of Surcharge!
I think Daria and her hubby really need to check out Credit Unions....don't you?
SUPER SAVVY SAVER HELPFUL HINT: Another way to avoid those nasty ATM surcharges and fees? If you need cash, when using your debit card to make purchases at the drugstore, the grocery store and elsewhere use the Cash Back feature! After keying in your PIN most stores will ask if you would like Cash Back and how much - use it and save!!!!!
Fortunately for YOU, though, YOU are NOT the "average" consumer. YOU are a credit union member and you can take the "Bank Fee Alert" Daria so kindly provides and go one financially savvy step further!
See Daria is talking about a number of BIG BANKS who are going up on their ATM Surcharge fee (to non-customers who use their ATM) from $1.00 to $2.50 to now $3.00! Daria is very helpful in talking about how to avoid the fee and save up to $300 a year by planning ahead and finding your nearby "bank" ATM to use.
What Daria fails to mention..... is what YOU the credit union member has known for sometime. You can Save over $300 a year simply by being a CREDIT UNION MEMBER.
Because Credit Union Members know that many if not most credit unions belong to Surcharge FREE ATM networks and encourage their members to use them. For example, the Savvy Saver's Credit Union, Carolina Postal Credit Union, belongs to the CashPoints ATM Network in North Carolina (thank you State Employees Credit Union - founder and ultimage underwriter/sponsor of CashPoints ATMs!!) and consequently OUR members (and many other NC credit union members) can use any of the nearly 1,000 CashPoints ATMs in North Carolina and NOT be charged a $3.00 surcharge..... or for that matter ..... any kind of Surcharge!
I think Daria and her hubby really need to check out Credit Unions....don't you?
SUPER SAVVY SAVER HELPFUL HINT: Another way to avoid those nasty ATM surcharges and fees? If you need cash, when using your debit card to make purchases at the drugstore, the grocery store and elsewhere use the Cash Back feature! After keying in your PIN most stores will ask if you would like Cash Back and how much - use it and save!!!!!
Friday, May 23, 2008
Number 1 on the Savvy Savers Help Hint List!
From "How to Living Cheaply" at wikiHow.com:
Include savings in your budget; that way, a portion of your earnings is already going to investments or a rainy day fund. Also try the monthly investment or savings plans offered by several employers that deduct money from your paychecks and send it to savings accounts or investments automatically.
SAVVY SAVER HELPFUL HINT! Remember, if you save $3.34 a day, or $25.00 a week, or $50.00 per payday, or $100 a month, by the end of the year you will have saved $1,226.68 at Carolina Postal Credit Union!
For more helpful hints go to wikiHow.com or click here for the complete article.
Include savings in your budget; that way, a portion of your earnings is already going to investments or a rainy day fund. Also try the monthly investment or savings plans offered by several employers that deduct money from your paychecks and send it to savings accounts or investments automatically.
SAVVY SAVER HELPFUL HINT! Remember, if you save $3.34 a day, or $25.00 a week, or $50.00 per payday, or $100 a month, by the end of the year you will have saved $1,226.68 at Carolina Postal Credit Union!
For more helpful hints go to wikiHow.com or click here for the complete article.
How to Find $448 a Month
If you're 30 years old, you need to set aside $448 per month for next 35 years to become a millionaire -- if you earn a reasonable 8% annualized return in a retirement account. Don’t have $448 to spare -- or even $248? Maybe you do and don't realize it.
Savvy Saver Says: With helpful hints like this:
Save $100 per MonthOn Lunch
Here's How: Bring your lunch and snacks to work. Considering that the average meal at McDonald’s costs $5 and Dunkin’ Donuts charges $2 for a large cup of coffee, the brown-bag windfall can be substantial.
You CAN find a variety of ways to save! Interested? Check out the entire article at AOL Money and Finance (featuring Kiplinger.com) here.
Savvy Saver Says: With helpful hints like this:
Save $100 per MonthOn Lunch
Here's How: Bring your lunch and snacks to work. Considering that the average meal at McDonald’s costs $5 and Dunkin’ Donuts charges $2 for a large cup of coffee, the brown-bag windfall can be substantial.
You CAN find a variety of ways to save! Interested? Check out the entire article at AOL Money and Finance (featuring Kiplinger.com) here.
How to Save Money (from WikiHow.com)
Saving money is one of those tasks that's so much easier said than done. There's more to it than spending less money (although that part alone can be challenging). How much money will you save, where will you put it, and how can you make sure it stays there? Here's how to set realistic goals, keep your spending in check, and pay yourself first:
Set savings goals. For short-term goals, this is easy. If you want to buy a video game, find out how much it costs; if you want to buy a house, determine how much of a down payment you’ll need. For long-term goals, such as retirement, you’ll need to do a lot more planning (figuring out how much money you’ll need to live comfortably for 20 or 30 years after you stop working), and you’ll also need to figure out how investments will help you achieve your goals.
Kill your debt first. Simply calculating how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to free up money. Once the money is freed from debt payment, it can easily be re-purposed to savings.
Establish a timeframe. For example: "I want to be able to buy a house two years from today." Set a particular date for accomplishing shorter-term goals, and make sure the goal is attainable within that time period. If it’s not attainable, you’ll just get discouraged.
Figure out how much you’ll have to save per week, per month, or per paycheck to attain each of your savings goals. Take each thing you want to save for and figure out how much you need to start saving now.
For most savings goals, it’s best to save the same amount each period. For example, if you want to put a $20,000 down payment on a home in 36 months (three years), you’ll need to save about $550 per month every month. But if your paychecks amount to $1000, it might not be a realistic goal, so adjust your timeframe until you come up with an approachable amount.
SAVVY SAVER HELPFUL HINT! Remember, if you save $3.34 a day, $25.00 a week, $50.00 per payday, or $100 a month by the end of the year you will have saved $1,226.68 at Carolina Postal Credit Union!
Need more helpful hints? Go wikiHow.com for the rest of this article and other helpful hints!
partial article reprinted courtesy of wikiHow.com
Set savings goals. For short-term goals, this is easy. If you want to buy a video game, find out how much it costs; if you want to buy a house, determine how much of a down payment you’ll need. For long-term goals, such as retirement, you’ll need to do a lot more planning (figuring out how much money you’ll need to live comfortably for 20 or 30 years after you stop working), and you’ll also need to figure out how investments will help you achieve your goals.
Kill your debt first. Simply calculating how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to free up money. Once the money is freed from debt payment, it can easily be re-purposed to savings.
Establish a timeframe. For example: "I want to be able to buy a house two years from today." Set a particular date for accomplishing shorter-term goals, and make sure the goal is attainable within that time period. If it’s not attainable, you’ll just get discouraged.
Figure out how much you’ll have to save per week, per month, or per paycheck to attain each of your savings goals. Take each thing you want to save for and figure out how much you need to start saving now.
For most savings goals, it’s best to save the same amount each period. For example, if you want to put a $20,000 down payment on a home in 36 months (three years), you’ll need to save about $550 per month every month. But if your paychecks amount to $1000, it might not be a realistic goal, so adjust your timeframe until you come up with an approachable amount.
SAVVY SAVER HELPFUL HINT! Remember, if you save $3.34 a day, $25.00 a week, $50.00 per payday, or $100 a month by the end of the year you will have saved $1,226.68 at Carolina Postal Credit Union!
Need more helpful hints? Go wikiHow.com for the rest of this article and other helpful hints!
partial article reprinted courtesy of wikiHow.com
Tuesday, May 20, 2008
Welcome to the Brighter Than A Bank Blog
Tired of being nickled and dimed by your Big Bank's Savings Account? Come here to talk about REAL money - and how to set up a systematic savings account that will work for YOU and not depend on how much you spend per month. We welcome helpful hints, comments and suggestions from YOU another Savvy Saver (you're Brighter than a Bank and YOU know it!)
We scour the Internet looking for the best, brightest and savviest suggestions web-wide daily and bring them all together so you'll have a one-stop blog for smart savings!
We scour the Internet looking for the best, brightest and savviest suggestions web-wide daily and bring them all together so you'll have a one-stop blog for smart savings!
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