Making Money Personal Triangle Credit Union

When it comes to events where the custom is to bring a gift, like weddings, birthdays, and showers, have you ever struggled to determine how much to spend, especially if you have many events to attend?  Fortunately, there are some tips out there you can use to make sure to give a great gift without going over budget.  
Links:
Check out TCU University for more financial education tips and resources! 
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Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.  
If your calendar gets filled up over the year with various birthday parties, weddings, showers, and holidays, you might find it a little jarring to feel constantly dishing out money for gifts. It gets incredibly challenging when you realize the money you wind up spending on gifts is getting dangerously close to blowing way past affordability. However, you genuinely want to give a nice gift to the person or people or honor.   
Here are a few tips to keep your gift-giving within your affordability range.  
 1. The most practical and straightforward way to do this is to set aside a separate budget item for other people's weddings and celebratory events. If you have some of these events coming up over the next year or two, dedicate a separate sinking fund specifically for gifts and throw some money into it over time. This way, you'll have it available when you need it.  2. Set a price cap for the type of event you're buying for. Different events are significant in various ways. What you'd buy for a wedding might differ from what you'd buy for a graduation. Have a dollar amount in mind associated with the specific event you're planning for and stick with it. A simple online search provided a short list of price ranges appropriate for different events. Here are a few quick suggestions:

Weddings: about $100
Birthdays: $15-$30 for acquaintances or kids' parties. Closer friends and relatives  
Bridal/baby showers: $ $50 - $100 
Graduations: $20 - $100 is appropriate 
Retirement parties: Depends on your relationship with the retiree, can be anywhere between $10-$100   

Keep in mind that these are guidelines, not rules.  Regardless of price, any thoughtful gift would be appreciated, so don't stress if this isn't the year to give elaborate gifts.   
3. Think about more than purchasing something. Gifts can be more than items bought at a store or off a registry. There are ways to get creative and offer meaningful gifts that cost you very little money. If you make quality crafts, a handmade gift can be appreciated the same if not more than a store-bought item.   
4. Consider contributing to a collective gift. If a gift you'd like to give is too expensive, consider going in on it with others. Pooling your money with others will give you a more significant, expensive gift without paying for it all yourself. Depending on the event, talk to other friends or family members to see if they'd like to contribute a portion of the funds to give a more expensive gift together.   
Purchasing gifts throughout the year can often pop up unexpectedly and throw a wrench in our budget if we're not anticipating them. With some planning and sometimes creativity, keeping your budget in mind will help you focus on the right things and find the best gift to celebrate life events.   
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.    
Have a great day! 

Who doesn't love vacations? If you're a vacation bug or considering planning your next venture this episode is for you. We're going to be discussing the reasons that we go on vacation, the real cost the vacation can be, and whether that cost is worth the money we pay. We'll also share some tips on how to save money on your next trip or your travel plans. 
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 
 

Did you know that family-owned businesses have their own national day? June 23rd is National Family-Owned Businesses Day and we’re sharing a couple of ideas on how you can support the local businesses in your community. 
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.     
Local businesses are everywhere; chances are you've already shopped at one. The best way to support a family-owned business is to buy and shop locally! Next time you need to purchase anything, visit a small, local store instead of going to a big-box retailer or shopping at Amazon. Not only is it good for the family-owned business, but it also helps boost the local economy.  
When you shop locally, you give money to that business, which means that that money will most likely be invested in your community. An American Independent Business Alliance analysis found that for every $100 spent at a local business, around $53 is recirculated in the community. Compare that to spending $100 at a big-box retailer, where only around $13 recirculates in the community. So not only are you getting your shopping done, but you are also giving back to the community when you shop at local businesses. If you prefer to shop online, check if the local company has a storefront and shop there instead of Amazon.   
Another great way to support local family-owned businesses is to buy a gift card from them and give it to a friend or family member. Not only are you buying from the local business, but you're also incentivizing someone else to go into the store and buy from them. It helps them bring in more income and increases awareness of their business or service through increased market exposure.   
If you're ordering takeout from a local restaurant, the best way to support them is to order directly from them. Third-party delivery services often charge restaurants a commission, anywhere from 6 to 30 percent;  this can take a sizeable cut from the local restaurant's profits, so instead, order directly from them.    
Another easy and free way to support local family-owned businesses is to leave them a positive review. If you enjoy their company, let others know. Businesses with positive online reviews are more likely to get more customers.   
You can support other local small businesses if you own a small business. Use other small businesses as your supplier; this keeps the money local and suits your community. If a customer asks you for something you don't have, refer them to another local business.   
Supporting family-owned local businesses is a great way to shop and supports the community in general. Next time you shop, consider shopping locally instead of giving your money to a large corporation.    
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.     
 

Have you ever thought to yourself, if only I had the money? You may be considering the purchase of a new car, a last-minute trip, or something as simple as a trip to the day spa. If you find you don’t have as much money as you’d like for the things you want, you’re probably realizing it’s time to save more? It may be the right time to try out a few fun and simple challenges to save money this summer.   
Links:
Get your savings started for bigger goals with Triangle's Goal Builder tool! 
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.  
Summer is the time for traveling, exploring, and enjoying the many fun things it brings.   
It’s also a great time to energize yourself and breathe new life into your finances. If you’re looking for a way to save more money this season, try a savings challenge or two to push yourself toward meeting goals that will improve your life. To quote the renowned actor Morgan Freeman, “Challenge yourself; it’s the only path which leads to growth.”  
If you’re looking for a way to improve your financial health by saving more money in a fun way, here are five financial challenges you can try out this summer.   
 
The give-up-something-for-summer challenge. How easy would it be to put something aside for some time? In this challenge, you’d pause a subscription service, sacrifice your daily latte, or hold off on ordering takeout for a determined period. Put any money you would have spent on the item or service you gave up into a savings account. The amount you can save will depend on what you’re giving up, so the more expensive or frequent habit you cut back on, the more you can save over the life of the challenge. 
 
No-spend challenge. Are you brave enough to stop all non-essential spending for a bit? In this challenge, you still pay your bills and groceries but pass on everything else, like entertainment, dining out, drinks, and unnecessary shopping. Set the timeline like a week, two weeks, or even a month of no spending and save that money in a separate account. This challenge can be rewarding as you find new ways to have fun and enjoy opportunities at no additional cost.  
 
Credit card timeout. How long can you go without using a credit card? In this challenge, you put that card, or cards, away and use only cash or your debit card when buying things. This challenge will force you to keep your account balance in mind whenever you spend, which will likely cause you to think twice before checking out. Many studies have shown that people are more likely to spend more money paying with a credit card than with a debit card or cash. If you’re up for this challenge, you’ll likely save money every time you pay due to the payment method alone.  
 
Round-up challenge. How much can change really add up? In this challenge, every time you buy something, round the cost to the next dollar and put that change into an account. For example, if your recent grocery bill was $225.50, round up to the nearest dollar and save the difference. In this case, you’d put $.50 into a savings account. You would do this for every purchase you make for your challenge period, whether a few weeks, 30 days, or even 3-6 months. Because the contributions are so small, they might seem unlikely to build up, but you may be surprised by how much you can collect over time.  
 
52-week savings challenge. Do you have the discipline to keep a challenge for a whole year?  This one lasts longer than the summer season, but it is worth the effort once completed. In this challenge, you save money every week of the year. Each week is numbered between 1-52. You would then save $1 the first week and $2 the next week, and you would increase the savings amount by $1 every week that follows. I

Buying a house is a huge decision. It takes a lot of planning and preparation. If you hope to own a home someday, you may begin wondering whether you’re ready to start the process. Fortunately, there are some basic questions and steps you can take to gauge whether it’s the right time or if you should prepare a bit more before such a big purchase. 
Links:
Learn more about Downpayment Assistance Programs
Check out Triangle's mortgage resources and current rates
Calculate your payment using out mortgage payment calculator
Get in touch with one of our Mortgage Originators
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.   
When buying a house, you’ll find you’re faced with many choices. Going in new to the game can be intimidating, especially if you’re facing pressure from places like family, friends, or even the economy.  
As you get started, you’ll need to determine a few important things to find out if you’re ready to make such a big purchase.  
First, if you’re feeling ready to embark on this journey remember that you don’t have to do it alone.  
The best way to start is by setting up an appointment or free consultation with a mortgage loan officer. They can review your finances with you, set you up with a plan of action that may include preparing your credit and accounts prior to applying, get you in touch with a realtor, and provide an idea of the price range you should be looking at when shopping.  
Mortgage professionals will help you answer essential questions to determine how ready you are to find the right home.  
First, they’ll help you figure out how much down payment you’ll need. Determining the down payment is an essential step in the home-buying process. The more you put down, the less you’ll need to borrow. But for many people, this is a challenging step because it takes time and planning to save enough of a down payment that will even make a dent in the overall house price.   
Lenders generally require 20% down, which as of this recording is averaging around ninety-five thousand dollars in New Hampshire—difficult for most to obtain. With the benefit of PMI (Private Mortgage Insurance), many lenders can offer a mortgage without that large down payment. Because of this, different lenders also offer a variety of first-time homebuyer programs that accept low down payments, some as little as 5% or even 3% down. That can make a huge difference for someone with little time to save up for a down payment. Being intentional about saving that down payment is critical, and it will make the difference in how much money you’ll have to borrow for your home.  
Second, they may provide insight on whether you qualify for any down-payment assistance programs.   
If you’re struggling to collect enough for a downpayment, you may find help through down payment assistance programs. These are special programs, usually for first-time home buyers, but not explicitly, that can provide funds like grants, particular loans with very low rates or no need for repayment, forgivable loans, and tax credits. These offers are very localized and differ from state to state, but it’s worth researching the opportunities that might be available to you. Remember that you may have to meet specific requirements to get the assistance, and some lenders might not work with all programs, so do your research beforehand to determine your likelihood of receiving downpayment assistance.    
 Third, they’ll help you get an idea of your interest rate and APR. 
The interest rate significantly affects whether you’re ready for a mortgage. Getting as low an interest rate as possible is a top priority for many people. As a prospective homebuyer, you’ll find that you’re not only shopping for houses but tha

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 
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