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Money Matters Blog

Tuesday, December 10, 2019

6 Ways to Keep Your Finances Intact This Holiday Season

You don’t have to rack up a huge credit card bill or go into debt to cover your holiday expenses. Enjoy a financially stress-free season with these six tips:

1. Create a Detailed List of All Your Expenses

Draw up a list of every holiday expense you anticipate. Include all gifts, d├ęcor, travel expenses and donations. Try to keep it as trim as possible by cutting out non-essentials and using stuff you may have in storage from previous years.

2. Determine How Much Money You Can Spend

Work on finding a magic number that will cover everything on your list and that you can realistically afford. Ideally, this money should come from funds you’ve set aside just for this purpose.

3. Divide and Conquer

Next, assign specific amounts of money in your budget for each expense category and for every person on your gift list. Again, make sure your numbers will work from both a financial and practical perspective.

4. Track as You Shop

As you shop, keep careful account of exactly how much money you’ve spent for each person and in each expense category. Review your budget often to make sure you’re staying on track.

To make this job easier, use an app, like Santa’s Bag. It allows you to set a budget for each person on your list and then makes tracking the amount you spend super simple.

5. Shop Smartly

Keep your spending to a minimum with these hacks:

·       Use shopping apps or browser extensions, like Honey and Shopular, to get your favorite retailers’ best deals and coupons delivered right to your phone or computer.*
·       Shop online on Tuesday morning. Research shows this time of week is when you’ll find the hottest online deals.
·       Shop with a friend. Take advantage of BOGO sales by splitting the cost of a single item with a friend and each of you taking one item home.
·       Shop late. Prices actually fall in the weeks leading up to Christmas as retailers get ready to clear out their holiday inventory.

6) Let Community Financial Help

Community Financial can help take financial stress out of the holiday season:

1.     Special Rate Holiday Loan: If you can’t come up with the funds you need for the holidays, consider a Community Financial Holiday Loan. From now until December 31st, you can apply for a loan up to $3,000 with rates lower than your average Personal Loan!
2.     Holiday Savings Account: Spread the cost of the holidays across the year with an account created just for that purpose. You’ll set aside a little bit of money each month, and next year, when the holiday season rolls around, you’ll have all the funds you need.


Your Turn: How do you get through the holidays with your finances intact? Share your best tips with us in the comments.


*Community Financial does not endorse the information, content, presentation or accuracy, nor make any warranty, expressed or implied, regarding the websites and/or apps mentioned above. 

Tuesday, December 3, 2019

Warming Hearts & Homes is Back. You Click. We Donate!


Community Financial Credit Union is excited to kick off the holiday season with the return of our 8th annual Warming Hearts & Homes charitable campaign! Throughout the month of December, Community Financial will donate up to $40,000* to local nonprofit organizations that provide heat, food, shelter and clothing to families in need.

During the winter months, cold weather puts extra strain on families, some of whom are forced to choose between paying utilities and putting food on the table. Community Financial remains dedicated to supporting the fight against cold and hunger in Michigan each winter.

Tuesday, November 26, 2019

What Are You Grateful For?

With Thanksgiving just around the corner, and National Gratitude Month in full swing, now is the perfect time to sit back and reflect on all of the things we’re grateful for. At Community Financial, we’re grateful for a lot of things: our friends, family members, the roofs over our heads and the amazing people we get to interact with each day through our work.

Tuesday, November 19, 2019

5 Scams to Avoid This Black Friday

Black Friday and Cyber Monday can be fun — but they can also put you at risk. Here are 5 scams to look out for as you brave the frenzied crowds while trying to snag the best deals after Thanksgiving.

Friday, November 15, 2019

School Spotlight: Celebrating Diverse Learners at Kennedy Elementary

Education Partnership Coordinator, Amy Fava, with Kennedy
Elementary's Student-Run Credit Union fall volunteers.
Recognizing and celebrating how each student offers new and unique perspectives is important for any successful classroom.  The same applies to the Student-Run Credit Union program.  Community Financial believes in valuing diverse learners.  It is imperative that we work with teachers, parents, and students to understand each student as an individual with certain skills, personalities, cultural backgrounds, etc.

Education Partnership Coordinator, Amy Fava, strives to know each student volunteer and member personally at Kennedy Elementary in Livonia.  Amy works tirelessly with teachers and parents to address any accommodations students may need to be successful workers and savers at the school’s Student-Run Credit Union.