Building a financially free life is a journey that takes time, dedication, and, most importantly, financial education. Understanding your finances is a crucial step towards a secure future.

It's not just about learning the lessons but also about putting them into practice. Taking a proactive approach to financial literacy is one of the most important decisions you can make for your life and future.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.   

Education is a powerful tool that empowers us to make significant changes in our lives. As Benjamin Franklin wisely said, "An investment in knowledge pays the best interest." When it comes to financial knowledge, the interest you gain is not just figurative; it's a real sense of control and confidence over your financial future. This empowerment is the key to unlocking your financial potential.   

If you're ready to level up your financial game, there's a reliable way to get started. It's all about actively learning about money and finance; the good news is that anyone can do it.   

Here are a few ways to get proactive about your financial education this year.  

Here are a couple of extra tips for those interested in putting their financial education and knowledge into practice. 

If there are any other tips or topics, you’d like us to cover, let us know at [email protected].  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day! 

It’s a new year and many of us are looking forward to all the new changes they hope to make over the next 12 months. Common resolutions involve taking steps to improve health, upgrade skills, or achieve something new. 

Another important resolution to include in your plan is to improve financial health. In this tip I’ll share a few financial resolutions to consider for a financially successful 2025. 

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

As the new year begins, it's the perfect time to reflect on your financial habits and set new goals. Creating financial resolutions can be a powerful way to take control of your finances, reduce stress, and build a more secure future. Whether it's saving more, reducing debt, or investing wisely, setting clear and achievable financial resolutions can help you stay focused and motivated throughout the year. By making thoughtful financial decisions now, you can pave the way for a prosperous and financially stable future. 

Here are a few popular financial resolutions to consider for the new year. 

Resolution 1: Pay Off Debt: Think about making this the year to finally work to lower or even eliminate debt.  If paying off all your debt over the year isn’t that doable, set a number on how much you want to pay off instead like “I want to decrease my debt by $10,000 this year” or “I finally want to pay off a certain credit card debt”. Setting this specific goal makes it easier to stay focused and motivated throughout the year as you can track your progress through to completion. If you’re unsure where to begin, explore some of our debt resources like videos on YouTube, articles on Triangle University or even attend one of our free webinars to establish your debt payoff plan. 

 Resolution 2: Saving More Money: Many people admit they need to save more, but often fail or seriously miss the mark because they never took action on how to do it in the first place. To get started with this resolution, choose a set dollar amount from every paycheck and deposit it into a savings account as soon as you get your check. Prioritize your saving as the first thing you do whenever you get paid, then work out the rest of your expense items from there. If you have direct deposit, set it up so a portion of your check is automatically deposited into a savings account. This is an easy and effortless way to save because you won’t have to manually transfer the money yourself. Additionally, for anyone saving for a specific goal like a car, emergency savings, vacation, or home downpayment, use Triangle’s Goal Builder tool in online and mobile banking to automatically allocate money from your savings account towards that specific financial goal. 

Resolution 3: Creating and Sticking to a Budget: Many of us know we need to budget. Make it a priority to set up a budget and work according to it throughout the year. Using a budget helps with income and expense management by giving you the power to determine exactly where your money goes every time it comes in. If you’re new to budgeting, there are many tools available to help you get started. Check out some books or explore online lessons like our Budgeting 101 workshop available to watch on YouTube or occasionally as a webinar you can attend. These tools will help you understand the process of budgeting and provide hands-on activities to get you started right away.  

Resolution 4: Improving Credit Score: If you’re unhappy with your credit score, set a resolution to improve it this year. Because a credit score impacts your ability to borrow and also determines which interest rate you’ll get, having a higher credit score is a noble goal to pursue. If your score is lower than you’d like, take proactive steps and lay out a plan over the year to improve it. Be diligent with all your payments by consistently paying them all on time. For those who struggle with this, set up auto payments if possible, to help automate the process and avoid any missed payments that can affect your score. In addition, use a credit monitoring tool. Some credit cards offer complimentary credit reporting so get familiar with the platform and get used to checking your score. For those with a Triangle Better Checking account, you can access your credit score and report using the Better Checking ID Protect service.   

Resolution 5: Investing Wisely: Make this the year you finally start investing. If you’re not on this path yet, investing is an important part of building a healthy financial future. For those a little intimidated by the world of investing, don’t feel like you have to figure it all out on your own. There are many resources and professionals available to help you determine important investing factors like risk tolerance, projected retirement dates, investment sectors and more. If you’re interested in getting started with investing in 2025, check out triangle’s financial planning services for retirement and estate planning services, as well as insurance and social security planning. Visit trianglecu.org to get in touch with one of our financial professionals or to learn more.   

If there are any other tips or topics, you’d like us to cover, let us know at [email protected].  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day and a happy new year! 

This is a hectic time of year, and with all the activities and events occupying our attention, it can be difficult to plan for all the possibilities life might throw at us. When it comes to your vehicle, there are a lot of things to prepare for, especially when winter weather takes an unpredictable turn.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

Nearly 70% of the United States population lives in regions that experience winter weather. The roads can get icy, snow impacts visibility, and drivers slow down on the highways—all these factors impact travel and increase crash risks.  

Even if you've lived in these regions for a while or your whole life, there are steps you should still take to prepare yourself and your car for winter weather.   

In addition to snow impacting visibility during winter, visibility is limited because the days are shorter. For your safety and the safety of others on the road, check your headlights, taillights, and turn signals to ensure all are working properly. If any bulbs are dull and/or require replacement, this is the perfect time to do that. 

All tires are not created equal! If your vehicle has standard tires, they might not have the tread to handle snow and ice. Snow tires offer better traction during inclement weather than all-season tires. While vehicles with all-wheel drive are better in snowy conditions, snow tires on front-wheel-drive cars can be similar or more effective.   

Guaranteed Asset Protection (GAP) is optional auto coverage that pays the difference between your car’s value and the remaining balance on your loan if it is totaled in an accident or stolen.  

According to the U.S. Department of Transportation, 24% of weather-related accidents occur on snowy or icy roads. With winter weather making road conditions dangerous, GAP keeps you secure if something were to happen. 

How does GAP coverage work?  

Let's say you have $15,000 left on your auto loan, but your car is only valued at $10,000. The difference in value means if something happened to your car, such as an accident that totals your vehicle, you would pay $5,000. With GAP coverage, this cost is reduced or eliminated, which means that instead of worrying about having to pay off the rest of the loan before getting a new car, you can focus on finding the right deal and auto loan rate.      

These three steps will help you protect yourself and your vehicle this winter. Looking to refinance your current auto loan so you can start the new year with a lower rate? Triangle Credit Union has a limited-time special for auto refinancing. Learn more and apply today! 

If there are any other tips or topics, you’d like us to cover, let us know at [email protected].  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day! 

As the year winds to a close and we shift our attention to the new year that’s about to begin, the next few weeks may be the right time to assess our existing financial situations and consider what new plans we’d like to implement for the following year. For many Americans, one of those plans could be to finally get debt-free.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

Getting out of debt is a noble goal, one worth pushing towards. If you’re feeling the burden of debt, one very effective method can help you pay down that debt and reach financial success. But when it comes to this venture, where does one start? How do you know the plan will be a success? That’s what this debt snowball method is for.   

In this tip, I’ll explain the debt snowball, how to use it to eliminate debt, and share a few additional thoughts to keep in mind while following the plan.  

One of the biggest challenges many people face when paying down multiple debts is determining which debts take priority. Do you pay off the oldest debt first? The largest debt first? A certain type of debt first? This often paralyzing decision can make it hard to advance toward the goal. Juggling different bills with varying balances can be tricky to organize, so you need a solid and practical plan to focus on and eventually eliminate debt.   

That’s where this plan comes in. The debt snowball works by organizing your payoff plan to pay down your lowest debt first, then using that freed-up cash to put towards the next largest balance, and so on.   

Start by putting all your debts in order by total balance from smallest to largest. Then focus on making larger payments to the smallest debt while making only the minimum payments on the other ones.  

For example: If you have three debt balances, one for $3,000, one for $8,000, and one for $10,000, focus on paying more towards the 3K one and pay just the minimums for the 8k and 10k ones. Keep paying your bills this way until that lowest debt is completely paid off.  

With one debt gone and out of the way, take all the money you were paying towards it and now put it towards the $8k one, continuing to pay the minimums on that $10k debt.   

Keep doing this until the 8K bill is gone.  Then, put all that freed-up cash from both eliminated debts towards that last 10k debt.   

The effectiveness of this strategy is that it increasingly builds your cash contributions towards debt every time one balance is paid. So, by the time you’re on that last debt, you’re shoveling money at that balance, and it will decrease at a more rapid pace. 

For anyone prepping to give this a go, here are a few things to keep in mind when you work your own debt snowball:  

For a deeper explanation of paying down debt and a visual walkthrough of the debt snowball method, check out our Paying Down Debt webinar and our Debt Snowball Method video clip on our YouTube channel.   

If there are any other tips or topics you'd like us to cover, let us know at [email protected], and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union, on Instagram and LinkedIn to share your thoughts.   

Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.   

Have a great day! 

Local credit unions offer amazing benefits that can help us save money and time every day.

In this episode, we'll be discussing a few of those benefits you might not be aware of, but they could make a world of a difference in your money management strategies, your savings and your financial future. 

Links:

The holidays are coming up very soon, and it's time to get in a festive mood! If you're on a budget but still want to get into the holiday spirit, here are some activities you can do.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.      

Watching festive movies is a great way to get into the holiday spirit. Set up a movie night with friends and family and watch your favorite holiday classics or find a new favorite! Movies are a great way to celebrate the holidays on a budget, as they are relatively cheap, or even free. Streaming services like Tubi or Freevee have a large selection of holiday movies that you can watch free with ads.   

Another great way to celebrate the holidays on a budget is to bake and decorate cookies. Buying all the ingredients you need at a store is relatively cheap. If you hesitate to do this because you’re not good at baking, you can also buy plain cookies and decorate them yourself. Make it an event and invite your loved ones to help decorate the baked goods with you. Similarly, you can buy gingerbread house kits to decorate and display around the house.  

You can also explore other fun ways to decorate your home for the season. String up colorful lights or some garland inside and out. You can purchase affordable decorations at a budget store or make some on your own. Find templates and patterns for paper snowflakes, fabric decorations, paper chains and other types of homemade decor. If you don't have the space for a tree in your house, take some time and decorate a tree outside and if there's snow on the ground, make a snowman with a fun outfit to add to the festivities.  

If you’re in need of some inspiration take some time to see how other people are decorating for the holidays. Get in your vehicle and go for a drive around neighborhoods at night. Lots of people put up holiday decorations outside for people to look at, and sometimes you can find holiday "tours" online that show which neighborhoods go all out on their decorating. If you're feeling brave, knock on some doors in your local neighborhood to sing a few holiday carols.  

You can also get into the holiday spirit by volunteering. Show goodwill to others this season by helping. Visit VolunteerMatch.com for a list of organizations near you that are in need of volunteers. Look for a cause you're passionate about and start helping!  

However you celebrate, there are many ways to get into a festive mood, even on a budget. Let us know how you like to celebrate the holidays, and if you have any special traditions that you love to do!   

If there are any other tips or topics you'd like us to cover, let us know at [email protected]. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.       

Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.       

Finding the perfect gift for those on your list can sometimes be puzzling. If you’re racking your brain looking for a gift for someone, and you want that gift to be of good use and value, consider the benefits of a simple financial gift instead.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.   

Finding the right gifts for our loved ones can be challenging.   

For many, choosing the right gift can be difficult because you want to make sure whatever you select for the person is something they can use and like.   

One great gift that most anyone can use is money. If you’re at a loss for a gift idea this year, there are some awesome financial gift ideas for many different ages that can be both useful and appreciated.   

For the young ones in your life:  

Financial gifts for adults might be a little more tricky since there’s a chance that most already have established banking relationships and funding. But there are still options for the adults in your life:   

In summary, this time of year, considering financial gifts for friends and family could be an excellent way to provide a quality gift that will continue to pay into the future.  For any advice or assistance needed in getting started with giving any of the gifts mentioned in this tip, feel free to contact the credit union staff or consult our financial planning professionals at trianglecu.org  

If there are any other tips or topics, you’d like us to cover, let us know at [email protected].  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day! 

While this time of year has us rushing around and planning for all the festivities and activities of the season, it’s also an important time to take a step back and recognize the fundamental purpose of the season in the first place – the practice of generosity.  

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

We’ve passed through the hectic Black Friday and Cyber Monday shopping to come out on the other side to the official launch of the Christmas season.  

With all the attention we give to finding deals, preparing parties, planning travel and signing Christmas cards, it’s helpful to remember that the heart of the season lies deeper than just the parties and the shopping- it's about giving.  

For those who may be unaware, today is Giving Tuesday. Officially established back in 2012, it was intended to ignite a movement reminding all of us to take some time to serve others and our communities through volunteerism or financial means.  

The website givingtuesday.org states boldly that the overall purpose of the movement is to “Unleash the power of radical generosity around the world.” 

I don’t know about you, but that sounds like a movement I can get behind. 

Since its creation, the movement has gained international traction. Every year, people and organizations unite across the globe from India, Africa, Europe, and more to recognize the importance of serving others through giving.  

So the question some may have is, “what’s the best way to give?” 

The good news is that there are no requirements. Participation counts in whatever way you choose to give back. 

Try a random act of kindness like complimenting a stranger, carrying someone’s groceries, leaving positive notes for someone to find or pick up litter on a walk.  

You can participate through financial generosity like paying for the next person in line, rounding up your purchase to donate to a charity, collecting goods for a soup kitchen or buying presents for children in need.  

Volunteerism is another great way to participate like serving others at a shelter or soup kitchen, walking dogs at a shelter, or reading to kids at a local school or daycare.  

If you’re interested in participating this year, check out givingtuesday.org for a list of ideas on how to join in the mission. The site also offers a variety of giving tools and other inspiring resources to ramp up the Giving Tuesday energy.  

For many of us, the holidays are so busy, and rapidly speed by so when they’re finally over, we sadly realize we missed some beautiful opportunities to share in the glorious practice of generosity touching the many around us who could benefit most this season.  

For those familiar with the famous Charles Dicken’s story, A Christmas Carol, here’s a relevant scene from the story about the importance of generosity.  

Quick backstory: Scrooge, stunned by Jacob Marley’s ghost wrapped in chains, is baffled that a man so successful in life could be so burdened afterwards. The quote goes:  

“But you were always a good man of business, Jacob,' faltered Scrooge, who now began to apply this to himself. 

When we reflect on the significance of this season and the true need of the many people around us, this day, Giving Tuesday, serves as reminder that our real business on earth is to give and share with those around us who are in need.  

Participating in Giving Tuesday is a great way to practice generosity and share in the joy of helping others.  

If there are any other tips or topics, you’d like us to cover, let us know at [email protected].  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day! 

Black Friday is coming soon and is the perfect time to get your shopping done for the holidays. Many deals are happening in-store and online that it's easy to get caught up in the chaos so beware because there are some common mistakes to avoid while shopping during Black Friday. 

Links:

Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.     

Before you even go into a store or visit any website online, you should devise a plan for your shopping spree. One big mistake that many people make is going shopping without a plan. They often will overspend, buy things they don't need, and miss out on some deals. When putting together a plan, start by setting a budget for yourself so you don't overspend. With all of the deals happening on Black Friday, it's common for people to spend more than they meant to. Come up with an amount or at least a range of how much you are comfortable spending.   

As part of your plan, it’s also important to make a list of potential items you’d like to buy. Then, before you go shopping, look up deals for items on your list. This gives you the chance to compare deals between different retailers and figure out what works best for you.  

A second common mistake people make while Black Friday shopping is thinking they’ll get the best price on anything they buy. Many stores will have a big sale based on a limited amount of one product. Then, once that limited amount is gone, they will slowly mark the price again. Some retailers will even mark up a product's price before the sale begins so that when they put it on "sale" it’s actually marked back to the original price.   

A third mistake that people make during Black Friday is prioritizing quantity over quality. Just because the deal looks good doesn't mean the product is good. Buying an item just because it's cheap is not always a smart idea. Do your research on any product before you buy it to ensure you’re getting the proper value for the price you’ll pay. 

A fourth mistake some make is thinking that they have to wait until Black Friday arrives to get any deals at all. Many stores offer pre-Black Friday deals that are just as good as deals offered during Black Friday events. Savvy shoppers can also get plenty of great deals after Black Friday by shopping on Cyber Monday.  

It’s important to remember that some products might also be best avoided on Black Friday. That's not to say you won't get a good deal on them; it's because there are better times of the year to buy them. For example, exercise equipment, winter clothing, and holiday decorations are actually the cheapest in January. Make sure you know the best time to buy the right deals before making an impulsive decision to buy on Black Friday.  

If there are any other tips or topics you'd like us to cover, let us know at [email protected]. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.      

Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.      

This is a favorite time of year for so many but this season does not come without financial strain and stress. Today we're going to talk about how to save money this holiday shopping season. 

Links: