7 Money Myths You Need to Stop Believing

Most of us grow up hearing the same financial advice: spend less, save more, and invest early. While most of these words of wisdom ring true, there are lots of widespread money management tips that are actually false.

You might think you’ve got a handle on your finances, but it’s likely you’re falling for at least one of these myths. Read on for 7 money myths that might be causing you more financial stress than benefit.

Myth #1: Debit is always better than credit.

How to Enjoy a Busy Wedding Season without Going Broke

Celebrating a new marriage together with your friends is great fun, but all those wedding invites can put a real strain on your budget. Between wedding attire, travel costs, and gifts, each wedding can add up to a pretty penny. In fact, according to the most recent research, the average wedding guest is out $673 for each wedding they attend. That’s enough to make you go broke by the time wedding season is through!

If these numbers are scaring you, take a deep breath and relax. You don’t need to go into debt just to attend your friends’ weddings. Just follow these hacks for simple ways to celebrate in style—and within budget.

Is FIRE a Realistic Goal for You?

FIRE (Financially Independent, Retire Early) is having a moment, and it’s not hard to understand the appeal. Retiring early, who wouldn’t sign up for that? When you think of retirement age, you probably think of someone in their late 50's or 60's, and there’s a reason for that: it’s the norm. While this is the standard age most people retire, people who strive for FIRE retire much earlier than this, usually in their 30's or 40's.

FIRE isn’t always a realistic goal. There are challenges associated with early retirement that you won’t read about in the accounts of bloggers who have achieved this goal. Also, as you correctly assume, early retirement is not for everyone. Here’s why:

CFCU-Sponsored Events in Your Community!

Summer is here, which means Michigan will come alive with fun events to attend. From outdoor concerts to movies in the park, there are tons of activities for the whole family to enjoy. Here’s your guide to some of the events Community Financial will be sponsoring this summer in your community!

SOUTHEAST MICHIGAN 
Plymouth 
Music in the Air – Bring your lawn chairs and blankets to Plymouth’s Kellogg Park and enjoy the free concerts on Friday nights, May 24 – August 30, at 7 p.m.!

Which Features Should I Look for in a New Car?

Are you in the market for a new set of wheels and the choices are making you dizzy? Shopping for a new car can be complicated—but it doesn’t have to be that way. With a bit of research and some time spent determining what’s important to you, you can make a choice you’ll be happy with for years to come.

To help you out, we’ve created a list of key features you might want to consider in your new car, as well as a list of features you can skip.