babysteps

The Seven Baby Steps to Financial Planning

“If you do the things you need to do when you need to do them, then someday you can do the things you want to do when you want to do them.” – Zig Ziglar.

Are you in debt and don’t know how to get out? Dave Ramsey has a process that he refers to as “The Seven Baby Steps.” Do you want to get out of the mess we created without feeling overwhelmed? Well with these seven relatively easy steps, you can face the daunting task of becoming debt free. Read More


Track your Spending

I just started using MyFitnessPal App to count my calories, track my fitness and overall nutrition. As I was entering my lunch details the other day, I thought, “What IF we tracked our spending the way we track our calories?”

Have you ever tracked your spending?

I will never forget when I first started working at the credit union, I went to lunch with a group of ladies almost every day. One evening my husband said, “Do you know how much you are spending at lunch and what it is costing a month?” When he told me that I was spending on average $62 a week on lunch, I about fell over.

Using a debit card makes it super simple to pay for everything; however, if you don’t track it, you can get into trouble real quick! Here are some tips for tracking your debit card spending.

  1. Look at your online balance every day! That way your “out of site” will no longer be “out of mind.” Most banks and credit unions offer an online banking option so you can view your account as often as you want (we call ours CU Online). If you don’t like using the computer, most banks and credit unions offer a banking by phone option where you can call and get your balance and find out which transactions have cleared (we call ours CU by Phone).
  2. If available, use your institution’s mobile app to access your account and find out what you have available to spend before making that big purchase (we call ours Kelly Mobile).
  3. Write it down! Why is it that the theme of every diet is to “write it down”? Because if you write it down, you can really see just how much you are eating (or how much is coming out of your pocket, in the case of finances).

You might be thinking, “How do I write it down”? There are several ways, it all depends on your personal preferences.

  1. If you prefer paper and pencil, use a check book register – they are perfect! You can write the date, amount, and merchant.
  2. If you don’t like that idea because you use your check book register for checks, use a pocket spiral. You can write down date, amount, and merchant.
  3. If you prefer to use your online banking system, download the information into excel and sort.
  4. Of if you want to buy software, Quicken has software you can use to download your spending and will give you reports and help with budgeting.
  5. If you want a software, but do not want to spend the money, there are different applications available. The most common right now is mint.com. You can download your transaction and mint can help you track and budget.

I hope these tools will help you! Spending too much money and not having enough at the end of the month – hurts! Stay informed, track your spending, and don’t run out of money before you run out of month!

For more information give us a call at Kelly Community, we are here to help you save more, earn more, and do more financially.


SWITCHING YOUR FINANCIAL INSTITUTION

Automatic drafts, cancellation fees, direct deposits, closing accounts, transferring money, sometimes even overdrafts… these are just a few of the things that are included in switching financial institutions. It is not only a pain, but it can be very costly!

There are some things you can do to prepare yourself and perhaps these changes won’t hurt so badly.

  1. Order your debit cards and checks for the new account immediately, these may take several days to get to you.
  2. Stop using your old account. Leave the plastic and paper alone! Use cash for your purchases during the transition.
  3. Re-direct your automatic drafts. Use your last statement to make a list of all the places you have set up for automatic payment. Some examples are tanning, gym and fitness, utilities, loan payments, vehicle payments…the list goes on and on.
  4. If you have a pay check direct deposited, get that switched quickly. Some employers require a voided check; ask your employer if a letter from your financial institution may be enough. Most employers require up to 3 weeks or 2 pay periods before the switch is complete.
  5. Schedule any other direct deposits, such as social security; this, too, may take up to three weeks for the change to be made. Try to time your request just after you receive your payment.
  6. Preparation is the key! Know what comes in and out of your account and make sure to switch all of it at the same time – success is in the details!

If you follow these steps, you will be able to make the move easier and faster. BEWARE, if you do not time these right and pay close attention to your account, things can get a little chaotic.


Is Your Teen Ready for a Debit or Credit Card?

According to a recent study by JumpStart Coalition & Junior Achievement, on average 35 percent of high school seniors use credit cards, and more than 70 percent of all teens surveyed have a bank account and/or debit or credit card.

If you are facing the decision to allow your teen to use plastic, teaching your child good financial literacy skills is extremely important. Read More





Federally and Privately Insured up to $500,000

It’s been said, “Don’t put your eggs in one basket” I guess it depends on the basket!

As you know, at Kelly Community, your deposits are federally insured by the NCUA to $250,000. But NOW, deposits at Kelly Community carry Excess Share Insurance for an additional $250,000. That’s a total of $500,000 of combined federal and private share insurance.

Not a big depositor? No problem, just know that at Kelly Community safety and soundness has been practiced for over 50 years.

So now you can consolidate those eggs (deposits) In one basket! (THE COMMUNITY Credit Union)

No more multiple statements, no more running all over town, “protecting” and “insuring” your deposits.

At Kelly Community, one stop, one account or Multiple accounts, it’s your choice.

We’re people helping people… Save More. Earn more. And Do more…Up to $500,000!

NCUA logo - new      ESI-corporate-logo-disclosure-color

Visit our website at http://www.kellycommunity.org for more details.