Making Money Personal Triangle Credit Union

When it comes to running a business, there are bound to be a lot of challenges and many questions along the journey. That's why there are so many amazing people working every day to help guide small business owners and entrepreneurs towards their dreams of success.
In this episode, I chat with SCORE Representative Adriana Torres, about how her personal mission drives her passion for not only working at SCORE, but also as an entrepreneur herself. 
Links:
Adriana's Time to Share podcast: YouTube
Contact Adriana at: adriana.torres@scorevolunteer.org 
Learn more about SCORE 
Check out our upcoming Latino Connection for Small Business event on June 6th, 2024
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
View Transcript.
 
 

High school graduation day is a milestone for the new grad and the parent(s)! After the celebration, it’s time to discuss the real world, reality, and the next best financial steps. What would you say to your graduate? We have the answers to that question.
Links:
Watch our Budgeting 101 Webinar now
Get your grad up and running with a new checking account
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
CHOOSING YOUR COLLEGE/TRADE SCHOOL
Whether your new grad is heading off to college or a trade school, the next level of education can be expensive. The best way to pay is to save, avoid student loans as much as possible, and choose an affordable school option. 
Many young adults choose to attend their local community college for the first two years for general education (Gen Eds) courses, such as college English, college math, etc. The cost per course is much lower at community college, and this will save considerable money over two years (as in thousands). Plus, a local school means living at home to avoid dorm and food fees that many students incur during their first year away. 
How many times do new college students change their major? I know I did—and that cost me a couple of thousand to make up classes. The first two years at a community college is the perfect time to assess a career choice, and getting those gen eds out of the way at a lower cost per class is a smart money move. Most 4-year colleges quickly transfer new students and their credits—especially if the student has excellent grades!
A BUDGET IS YOUR NEW BEST FRIEND
Whether your new grad is off to work or school, it’s time to introduce the world of budgeting. A budget is simply a plan to tell your money what to do and should be prepared in advance (we recommend the beginning of the month).
Some young adults have few expenses, especially if they are still living at home—that’s okay; there will be fewer line items on the budget to manage. 
Why budget? It’s a life skill that helps adults manage their money, save for their future, and live more flexibly. For more information on budgeting, I recommend our Budgeting 101 webinar on our YouTube channel.
GET A JOB!
Even if your new grad is heading to college, a part-time job is a great way to earn some spending money for some social time. Students with part-time jobs do statistically better in school because they are required to manage their time better than those who are not working.
Many students pay for college while they are in college, and this is a brilliant money move—avoid student loans as much as possible and never take out loans to cover living expenses, such as room and food.
THE BANKING BASICS
If your new grad doesn’t have savings or checking (with a debit card), now is the perfect time to head to your local credit union to set up these financial basics. Many credit unions have online account openings, so you no longer have to go to a brick-and-mortar branch.
If you are uncomfortable explaining how checking or debit card transactions work, head to your local branch. Branch representatives will take the time to explain direct deposit and debit transactions and how to avoid overdrafts and associated fees. Even if you are very comfortable with this subject, visiting the branch may be a good idea. Hence, your young adult gets this information from a credit union representative. 
DON’T OVERSPEND WITH A NEW CREDIT CARD
Post-high school is a time for freedom—including spending. At 18, young adults are now eligible to apply for their credit cards, which means their world is about to open wide. 
When I was in college several years ago, credit card companies offered free t-shirts to those who applied. “Build your credit,” they said. While building credit is a good, responsible step, you

As of 2024, U.S. students currently owe $1.74 trillion in both federal and private student loans. That amount is ridiculously high, and students who owe money on their loans are scrambling to pay them off and are hoping that student loans will be forgiven. Unfortunately, this creates a big opportunity for scammers to exploit students. Here's how you can avoid getting scammed regarding student loans.
Links: 
Worried you've been scammed? Contact any of these agencies for help: US Department of Education, Federal Trade Commission, and the Consumer Financial Protection Bureau 
Get identity protection with Triangle's Better Checking account for affordable fraud monitoring and resolution services
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.  
If you have student loans, here's what you need to know about student loan forgiveness scams. They are prevalent, especially with student loan forgiveness in the news. The scam can come in different forms of delivery, with phone calls, text messages, and emails being the most common.  
Here are some tips to spot a student loan forgiveness scam. First, look out for aggressive advertising language. For example, if the message you received wants you to act immediately or if your account has been flagged for investigation, it most likely isn't legitimate. The U.S. Department of Education says that while they might reach out to highlight temporary programs, they wouldn't use aggressive advertising language.   
Another way to spot a student loan forgiveness scam is if it seems too good to be true; it probably is. Some scammers will ask for an up-front or monthly payment while promising immediate student loan cancelation. Most government forgiveness programs require years of qualifying payments and/or employment in a specific field to qualify for student loan forgiveness.  
One common way to spot a student loan forgiveness scam is if they ask for your login information. The U.S. Department of Education has stated that they and their partners will never ask for this information.  
If you are unsure if the message you received is legitimate, check who sent it to you. Scammers can easily spoof messages to look like they are sent from an official source, but making sure is essential. Studentaid.gov has some helpful resources that include a list of email addresses and phone numbers that they use, as well as their trusted loan servicers.  
If you think you have been scammed, there are several options you can take. You can contact your federal loan servicer to ensure there was no unwanted activity on your loans. You can contact your financial institution to stop all payments to the company you think is scamming you. You can also submit a complaint to the U.S. Department of Education, the Federal Trade Commission, and the Consumer Financial Protection Bureau.   
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. 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.     

Financial Planning can be intimidating and often confusing for anyone new to putting together a sound financial strategy. But if you want to be successful with your money, it's important to know your financials and even better to have someone available to support you along your journey.
In this episode, we're chatting with Brian Luce from Triangle Financial Group about what a financial plan is, why it's important to have one, and how his team can help you get started.
Links: 
Check out Triangle Financial Group resources at trianglefinancialgroup.com
Contact Brian and his team to get started building your financial plan
Try out the Financial Wellness Assessment
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
 

Your credit score is essential. It drives your financial opportunities and impacts how good a rate you’ll get for mortgages, personal loans, and auto loans.   
Most of us know about our credit score and are likely looking for ways to improve it, so knowing what impacts it the most is the first step in improving our credit outlook.  
Links:
View the Investopedia article
Get started with LoanPay and make a payment today!
Watch these video tutorials on 
Setting Up Your LoanPay Account
Setting up AutoPay
Making a One Time Payment

Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.   
If you’ve followed our previous episodes or read any of our articles, you probably already know that a credit score is determined by several different factors.   
In order to keep your score in good shape, it’s critical to understand the different factors contributing to that number and how to maintain them properly.   
A lot of this maintenance is our responsibility, so when we decide to work with a lender to borrow money, we should make sure our credit scores have been properly attended to.   
According to Investopedia, all three bureaus, Experian, Equifax, and TransUnion, factor the following weights into their credit scores.   
The two lowest percentages are each weighted at 10% and are 1) any new credit you get and 2) the types of credit you have or credit mix.  
Then there’s the length of your credit history, weighted at 15%.   
The total amount owed is a higher weighted factor at 30%. Finally, your payment history comes in as the highest factor at 35%.   
So, if you want to properly nurture your credit score, you need to pay attention to each of these categories and keep special note of the higher-weighted ones. Most importantly, you need to ensure you make your payments on time.    
Have you or someone you know missed payments in the past? If so, that likely impacted the credit score.   
I’ve missed a few payments before because I got busy in life, and my distracted brain completely forgot that a payment was coming due. Then, the due date came and went before I realized that I had forgotten to pay. This is a big problem and something we need to be on guard against. Something as simple as not paying attention to the calendar can cause this problem.  
If you’ve had this happen in your own experience, or you know someone it’s impacted, it’s important to note how it can affect you. And the real danger here is the price you pay for it. Not only do you get charged late fees, but it gets reported back to the bureaus and factored into your credit score.  
 If you find you’re struggling to remember to make your payments, there is something you can do about it to make sure it doesn’t happen again. Take the time to set up automatic payments. Your financial institution likely provides a tool within mobile or online banking to schedule recurring loan payments. For example, Triangle Credit Union allows members to do so through the LoanPay platform. This tool lets people plan their loan payments in advance, customize the payment amount, set a payment frequency, and even set the duration they want the payments to run.   
If you’re determined to not let your score suffer from hits due to missed payments, then take a few minutes and set up autopay for payment peace of mind and a healthy credit score.  
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. 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. Check out our other tips and episodes on the Making Money Personal podcast.   

Are you often worried or discouraged about economic factors or current events? Not surprisingly, current events can substantially impact how we behave with money.
Many people react to news or events with coping mechanisms, one of which involves overspending. Fortunately, there are ways to keep current events from impacting your mindset and, ultimately, your money.  
Links:
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
If you've heard of Doom Scrolling, the term describes when people mindlessly scroll through newsfeeds and social media feeds, glued to negative headlines. It tends to evoke feelings of anxiety or depression. 
Another term has popped up recently describing a similar phenomenon called Doom Spending. This term describes a person's tendency to mindlessly spend money to cope with stress or anxiety, particularly stress or anxiety due to current events or economic factors. It's a type of emotional spending or even retail therapy. And because so many shopping apps make it easy to scroll through thousands of items, many people may run to those apps to scroll through products and shop for all kinds of things to offset negative feelings.  
Doom Spending poses many problems for those who fall into it. It's dangerous and can wreak havoc on your finances by derailing your financial plan and interfering with your ability to establish beneficial money habits. 
It can also cause you to make financial decisions you may regret in the future, as well as missing out on wealth-building opportunities as they arise. 
If you're susceptible to Doom Spending, you may find yourself shopping through an endless scroll and blowing a bunch of money to help you feel better.  
Remember that your feelings start with what you choose to focus on. Don't focus on all the negative. Remember that headlines tend to be sensationalized and promote what will most likely get a reaction out of you. Scientifically, headlines with negative messaging get more engagement than those with positive messaging. 
If you're engaging in doom spending to cope with stress, here are a few things you can do to guard against it.  
Change your routine. If you're scrolling most often at a particular time of day, say late at night before bed or on your way home from work, you might find that this is the time you feel more likely to spend.  Turn off the media and take a break from your phone. Keep it away from the nightstand, or swap it with a book instead. If you spend too much time on the couch with your phone or in front of the TV, try taking a walk instead to get away from the devices.  
Develop a method to stay on top of spending. Take charge of your money. Set a budget, make a list on paper or your phone, or use a money management app to track your weekly spending.  Knowing how much you're spending is the first step to taking charge of your finances. If you don't know it, you can't control it, and you won't succeed at managing it properly.  
Put your mental energy into reaching financial milestones. Part of the reason people spend money mindlessly is to feel better. But you can also get those feelings when you achieve milestones. Set a savings goal for yourself, like saving your first $1,000 in an account, having a certain amount of money in a retirement account, or paying off some debt. Focus on building a solid financial position rather than slipping into doom spending.  
Budget some of that money for positive purposes. Cut down on impulsive behavior and mindless shopping by planning to spend your money on beneficial things. If you're feeling anxious and emotionally worn, then put some of that money into things that will help bring you mental rest. Instead of spending it on the accumulation of stuff, set some money aside for a unique experienc