Making Money Personal

Food Delivery Apps and the True Cost of Convenience - Money Tip Tuesday

Food delivery apps offer a convenient service to get delicious food brought directly to your door. But they can also pose financial hazards that can derail even the tightest budget. How can food delivery habits impact your overall financial health? Keep listening to find out.   
Links:
Check out TCU University for 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.  
It's hard to resist the ease and comfort of using a food delivery service.  Whether it's for lunch, dinner, or a few simple items you need from the local grocery store, these services bring the world to your doorstep.   
Delivery app services like Uber Eats, DoorDash, and Grubhub may be easy and convenient to use, but they can also be the reasons we find ourselves overspending on meals month over month.    
Food delivery apps can often misguide us in various ways, and their impact on our budgets is significant. How do they influence our spending habits and finances? 
Well, there's a chance you'll be paying more for the item than you would if you went to the store or restaurant yourself. Many restaurants list higher prices for items on delivery platforms to offset fees on their end. For example, a burger that costs $10 at the restaurant might be $12-$13 on the app. It's hard to say whether all restaurants increase pricing for items within the app, but I've noticed it a few times when I order some of my favorite treats from a local coffee shop in my neighborhood.  
Another thing to keep in mind is that you can expect to pay additional fees, such as delivery and processing fees. For example, most platforms charge a delivery fee, which can range between $1.99 and $6.99, depending on the app, the distance for delivery, and demand. They can charge a service fee, typically a percentage of the order, such as 10-15%. Some apps will charge a small order fee if the order doesn't meet a minimum. And then there's, of course, the tip. Although tipping is optional, it's often expected and essential to give a little extra to the driver delivering your order. Considering all the fees, a $15 meal in person could become $25+ after the fees and the tip. Not exactly a budget breaker, but over time, those fees and tips can add up to a substantial amount of unexpected costs.    
It's important to recognize that you are paying a premium for meals ordered through the apps. While delivery is undoubtedly convenient—especially when we aren't in the mood to prep, cook, and clean—the real money-saving option is cooking for yourself. On average, restaurant meals can cost up to five times more than making them at home. For instance, a deluxe cheeseburger might cost $4.63 to prepare at home, but it could cost $13.69 for takeout and $23.79 for delivery after the fees and tip are factored in. By consistently opting for food delivery, you'll end up spending considerably more on your meals. Sometimes the convenience of delivery is justifiable, but other times it's not worth the extra cost, so before opening the app to hunt for tonight's dinner, consider the significant cost savings of preparing the same meal at home.  
So, we've covered the most significant way food delivery apps can cost you more. How can we help you enjoy the benefits of these apps without overspending? Here are a few ways to minimize the chances of overspending the next time you want to order out.   
Opt for takeout and pick up the order yourself instead of paying more for delivery. You'll avoid all the added fees, and there's no need to tip a driver.   
Avoid using the app and order directly from the restaurant. This can reduce the processing or service fees associated with ordering through an app.   
Use a loyalty program to save. Most apps offer a loyalty program with zero delivery fees and other savings, albeit for a monthly fee. But if you find yourself using the apps frequently enough, do the math to determine if getting on a loyalty plan will save you money.  
Set a monthly delivery budget to ensure you have money set aside for food delivery. This is an easy way to ensure you'll have the funds available to afford the joys of food delivery without the danger of overspending.  
While food delivery services offer the ease and convenience of having delicious food and other household items delivered directly to our door, they can also lead to excessive overspending and the buildup of bad debt. It's crucial to remember that using these apps can be enjoyable, but they require discipline and financial awareness. With a bit of attention, planning, and discipline, we can all enjoy the benefit of using food delivery apps without damaging our finances. 
If there are any other tips or topics you would 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 and check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Episode 84: The Value of Community Outreach & Financial Literacy | Jana Gemelli

Community outreach and financial literacy go hand in hand. Part of Triangle's mission involves bringing our many financial products and services out into the community through various sponsorships, engagement initiatives and employee programs. 
In this episode, we're chatting with Jana Gemelli, Community Outreach & Sales Coordinator at Triangle Credit Union, about the work she does to bring Triangle's products, services and financial literacy resources to the many people living and thriving in the communities we serve.
Links:
Explore the various webinars and workshops in our financial literacy course catalog 
Explore upcoming community events and financial literacy webinars on our Events page
Learn more about Triangle's SEG program for businesses
Check out TCU University for financial education tips and resources!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union  

Top Cost Considerations of Owning a Pet - Money Tip Tuesday

Are you an animal lover thinking about welcoming your first pet into your home? That’s so exciting! Here are some friendly tips to help you prepare for the journey of pet ownership and understand the costs involved.  
Links:
Search for and adopt your next furry friend at petfinder.com
Use Triangle's Goal Builder tool to start a saving fund for your next pet or a sinking fund for your current one!
Check out TCU University for 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!  
Owning a pet is one of life’s great pleasures. We adore our furry friends—whether they’re cats, dogs, rabbits, guinea pigs, or even gerbils! Who wouldn’t want a playful buddy to share their lives with?  
When it comes to how much a pet will cost you, there can be a big range. Some pets are quite affordable, while others may stretch your budget a bit. But don’t worry—with some planning and a little research, you can get a good feel for the expenses that come with your new furry family member, making budgeting a breeze!  
So, what should you keep in mind when considering costs?  
First up is the purchase price. For dogs, you might find yourself spending anywhere from a couple hundred to a few thousand dollars for certain breeds. Cats typically come in a bit lower, but you should still budget a few hundred dollars. Smaller pets like rabbits, guinea pigs, and hamsters can be more budget-friendly both in terms of purchase price and ongoing care.  
Remember, where you get your pet can make a difference in cost. Breeders often charge more, while adopting from a shelter can be a wonderful and economical option. Plus, when you adopt, you’re giving a loving home to an animal in need, and many shelter pets are already vaccinated and treated, saving you those initial costs. If you’re considering adoption, check out your local humane society or petfinder.com to find animals looking for forever homes.  
Next, let’s chat about medical expenses. If your new furry friend needs vaccinations, treatments, or surgeries, it's good to know what to expect. Procedures like spaying or neutering are quite common; you might pay around $130-$500 for dogs and $60-$370 or more for cats.  
Grooming is another consideration. Some breeds need regular grooming, and while you can definitely take this on yourself if you're up for it, a professional groomer can do wonders too. Expect grooming costs to be around $30-$90 for dogs and about $50-$120 for cats per visit.  
Food is a big part of your pet’s budget, and there’s a wide range of options out there. Whether you go for dry food, wet food, or even fresh scraps (just make sure they’re safe for your pet!), you’ll want to budget accordingly. Some pet owners even get creative and feed their pets fresh veggies or other kitchen scraps—just be sure to keep their nutritional needs in mind!  
Let’s not forget about supplies and toys! Depending on your pet, you’ll need to stock up on some essentials. For dogs, think about getting a leash, tags, a comfy bed, and plenty of toys. Cats will need a litter box, a few toys, and a cozy place to sleep. Smaller pets like rabbits or guinea pigs will need cages, bedding materials, and a water bottle. Make a checklist of what you’ll need and hunt for good deals so you can save a little!  
If you’re bringing a dog into your life, training is a worthy investment to consider. Some pups benefit greatly from professional classes, with the average cost of classes being $300 per course. But if you’re up for the challenge, you can train them at home, too!  
Planning to travel? You’ll need to consider boarding costs, which for dogs averages $40-$100 per night and for cats $30-$70 per night. Many facilities offer package deals, which can help you save a bit.  
Lastly, let’s touch on pet insurance. Having coverage can be a lifesaver when unexpected costs hit. Routine vet visits might average a few hundred dollars, but emergency care can quickly add up to thousands. If you think you might struggle to cover those bills, pet insurance might be a smart move.  
That’s all for today! 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 tuning in to today’s Money Tip Tuesday! Be sure to check out our other tips and episodes on the Making Money Personal podcast. Have a fantastic day! 

Tips to Start Building Wealth in Your 20s - Money Tip Tuesday

It's never too late to start building a financial plan, but the more time you have to make your money work for you, the better. Developing good financial habits early on increases your chances of achieving financial independence, and starting in your 20s is even more beneficial. 
Links:
Start your savings journey with Triangle's Goal Builder tool
Start your investment journey with Triangle's Financial Planning services
Check out TCU University for 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.  
Many Americans often delay building a financial plan until they're much further along in life, typically waiting for unexpected circumstances to push them into action. This habit of postponing critical decisions can create unnecessary stress and limit our ability to grow wealth. Instead of taking charge, we allow life's pressures to dictate our financial choices, which can hinder long-term success. 
If you're in your early, mid, or late 20s, now is the perfect time to prioritize your financial future. Don't wait for a life event to motivate you! Starting your financial journey now enables your money to grow and compound over time, giving you a distinct advantage.  
Take the initiative to outline your financial goals. By working to develop healthy financial habits early on, you'll empower yourself to make informed decisions that will lead to lasting financial security. The actions you take today will pave the way for a brighter future—don't hesitate to seize this opportunity! 
Here are a few practical things you can do in your 20s to start building wealth early:  
PAY YOURSELF FIRST – Make it a point to develop good saving habits. Whether you're working part-time while in school or recently graduated and working full-time, whenever you get your paycheck, set aside a portion of your income into a savings account for emergencies or other savings goals. Any percentage is good, but somewhere around 10% is a widely accepted rule of thumb. Use a savings too like Triangle’s Goal Builder tool within online and mobile banking to start your savings plan. 
START INVESTING EARLY – Investing early in your 20s is one of the smartest financial moves you can make. The most significant advantage is compound growth—your money earns returns, and those returns earn returns, snowballing over time. Starting early also gives you more time to recover from market fluctuations, build wealth gradually, and potentially retire earlier or with more financial freedom. Explore financial resources, such as books, or connect with a financial professional to help you set up a solid investment portfolio. If you’re ready to an investment journey, get started with Triangle’s Financial Planning services. Visit trianglecu.org to learn more and get in touch!
AVOID BAD DEBT -  Not all debts are created equal. Some are better than others. Bad debts are types of borrowing that do not contribute to building wealth or generating future income. They often come with high interest rates and are used to purchase depreciating items like clothes, electronics, or luxury goods that lose value quickly. Unlike good debt, which can be an investment in your future (like student loans or a mortgage), bad debt can trap you in a cycle of repayment without long-term benefits. Avoiding bad debt is important because it protects your credit score, reduces financial stress, and allows you to focus on saving and investing for your future. 
LIVE BELOW (OR WITHIN) YOUR MEANS – Find a way to manage your money in a way that keeps you from overspending. Practicing good financial management habits can help reduce excessive spending, which might interfere with savings goals and even lead to increased debt. Understand your income and set up a budget that covers your living expenses, encourages saving, and allocates some money for fun, discretionary spending. Adopting frugal living, such as cooking at home instead of eating out, reducing food delivery services, and avoiding impulse purchases, is a great way to ensure you're living within your means and avoiding lifestyle creep.
BUILD MULTIPLE STREAMS OF INCOME – In your 20s, you have a unique opportunity to explore various skills that can lead to extra income streams. As you build your career experience, seize the opportunity to diversify your earnings. If you're training to become a teacher, consider tapping into the lucrative world of online tutoring as a side gig. Additionally, if you possess talents in writing, graphic design, video editing, or social media management, platforms like Upwork, Fiverr, and Freelancer are excellent avenues to generate extra income. With so many exciting options at your fingertips, you can boost your revenue while simultaneously refining your skills and expertise. 
If there are any other tips or topics you would 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 and check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Five Ways to Keep Identity Thieves Guessing - Money Tip Tuesday

Identity thieves work extra hard to trick us into giving over our personal information. But there are ways for us to implement effective tactics to safeguard our identities and stop thieves in their tracks. In this tip, we’re sharing five ways to take steps you can take to make it harder for identity thieves to steal your information. 
Links:
Explore the identity protecting benefits of a Better Checking account
IRS Taxpayer Guide to Identity Theft
Check out TCU University for 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.  
Identity theft continues to be more than just a costly headache. Fraud scams and identity theft reports continued to top the list of scams reported to the FTC in 2024. In fact, nearly 6.5 million incidents were reported to the FTC last year, and over 1 million of those incidents included an instance of identity theft. These numbers prove that while scams and identity theft continue to evolve, so do the tactics that criminals use to commit these crimes. In this tip we’ll share some lesser-known steps you can take to help avoid becoming the next victim of identity theft and fraud. 
Use fake answers for your security questions
One simple way to add a layer of protection to your accounts is to choose wrong or nonsense answers to security questions. If at age 16, you drove a green SUV, the security answer to “What was your first car?” might be “big avocado” rather than “green Ford Explorer.” The idea is to choose an answer that only has meaning to you and cannot be easily guessed. Real answers to your security questions may have been published in the past if you have ever participated in social media quizzes, polls, and challenges. Avoid using your real information, especially information typically found in security questions, like your mother's maiden name or the name of the street you grew up on, in any situation, no matter how seemingly harmless it may seem. A moment of fun could lead to many lost hours spent repairing damage to your identity. 
Opt in for multi-factor authentication
When available, enable multi-factor authentication ("MFA") to your online accounts. MFA is a type of authentication that adds two or more layers of security beyond a password. If only two factors are used, it is sometimes referred to as two-factor authentication or 2FA. While passwords should always be difficult to guess, and you can work to protect the answers to your security questions, adding another step to the login process decreases the chance that a hacker can gain access to your accounts. MFA typically works by sending a verification code by SMS text, by email, or by voice to a phone number listed on your profile. You must enter the provided code before being allowed to complete the login process. MFA should always be added when available. To know whether your account provider offers MFA, you may need to investigate your online options or give the company a call to ask, as it is not always offered proactively. 
File your taxes early
As this IRS Taxpayer Guide to Identity Theft website states, "tax-related identity theft occurs when someone uses your stolen personal information, including your Social Security number, to file a tax return claiming a fraudulent refund." One simple way to avoid scammers getting a hold of your tax refund is to file before they do! Surprisingly, this type of fraud affects an estimated hundreds of thousands of Americans every year. Often, the scam isn’t uncovered until an individual tries to file their own return and their refund is rejected because it has already been claimed. When tax season comes around, get everything in order ` and file early. This way you can both mark the chore off your list and avoid leaving your refund out there for someone else to claim. 
Be smart and stay private on social media
Two ways people put themselves at risk on social media are by disclosing their location and engaging with strangers. It’s incredibly rare to truly need to share your location with a large group of friends and followers, yet location sharing is often an app’s default setting. Some social media platforms keep location sharing on all of the time in the background, so you can always see another user’s location. This allows ill-meaning individuals to access your home and work address, your travel routines, when you might be out of town, and your favorite vacation destination. Mobile location settings are often lifesavers when navigating in a new city or avoiding traffic jams, but allowing the social media universe to know where you are at all times is never necessary and can be detrimental to the security of both your identity and your possessions. While most people know to limit the information they share with those they meet online, there are still thousands of cases each year of people losing their money or identity information to a romantic interest or a new friend who wasn’t who they claimed to be. Remember to keep your personal information private if you make connections online. 
Routinely check your "in-app" privacy settings
Occasionally, posts, articles, or notifications will remind us to review our privacy information, and for a time after doing a reassessment, our settings will remain locked down. However, sharing a public post from a business (to qualify for a prize, for instance) can reset your privacy preferences for future posts. Creating an intentionally public post, like when you have an item to sell or need to find a missing pet, can also change privacy settings on a future update that you intend to be more personal. On a regular basis, check your privacy settings in the apps where you are active, and take an extra second to check each social post before publishing to ensure that it is reaching only who you intend. Consider culling your friends list to those in your inner circle, or set most of your updates to only reach a select number of friends and family. Games and shopping apps are often checking your background in the same way to show you more relevant and personal ads. Locking down what you are sharing will help you protect your information while also using the internet to stay connected with friends and family in the way that you intend. 
Add an annual task to your calendar to check in on these security measures and get started now. Also verify that your account passwords aren’t reused or easy to guess (especially on banking, mortgage, and investment accounts). 
And remember, if you suspect that your identity has been compromised, you have access to an Identity Theft Recovery Advocate as a benefit of your Triangle Better Checking account. These professionals are trained and ready to help you reverse the damage and get back on track quickly. They’re experienced advocates who know how to spot identity theft and, when necessary, will support you through the process of repairing any damages. 
If there are any other tips or topics you would 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 and check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Tips to Save on Vehicle Costs - Money Tip Tuesday

Vehicles can get expensive. The average American spends approximately $12,000 on vehicle costs annually, according to the U.S. Bureau of Labor Statistics (2023). Are there ways to cut those costs and save a little money on expenses?   
Links:
Research tools like Gas Buddy as an option to save money on gas purchases*
Check out Triangle's competitive auto refinance rates
Check out TCU University for 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.  
This money tip outlines a few things you can do to reduce your vehicle expenses.   
With everything from gas to repairs to purchase and resale, owning a car can be expensive. Of course, the purchase price is worth noting, as well as your financing costs or interest. But what about maintenance and fuel efficiency?  
If you are searching for a vehicle, this provides insight into what to consider when making a purchase. If you already own a car, you may find some of these tips helpful in saving money over time.  
Tip 1: Be savvy, buy used. This can save you money right off the bat. You don’t need to get an old vehicle; something 2-3 years old is fine. But compared to buying a new car, you could save yourself thousands off the price tag. A new vehicle can average around $47,000 according to Kelley Blue Book. However, due to depreciation, the same car can cost about half its original price in only a few years. The average price for a used car is around $26,000. If you buy a vehicle that’s a few years old, you can save yourself a good chunk of change right off the bat and still get a good, reliable car. 
Tip 2: Get regular servicing. Tire rotation, regular oil changes, and even car washes can all help extend the life of your vehicle. Although these are all considered expenses, regular maintenance can save you quite a bit of money in the future because you’re less likely to incur repair costs and it helps maintain the value of your car. It also extends the life of your vehicle, keeping you from having to buy another car every 7 years. Pay attention to your vehicle, budget for regular maintenance costs, and you’ll pay less overall.  
Tip 3: Take control, perform repairs or maintenance yourself. If you’re mechanically inclined, you may be able to do some of the work yourself. Some car servicing or repairs are easy enough to do yourself. You may not need to pay someone for servicing when you are just as likely to perform the job yourself. YouTube is an excellent resource for watching repair or service vehicles. You’ll most likely be able to find a tutorial for your car and watch someone perform the repair. Just make sure you know what you’re doing so you don’t make a mistake that requires a professional to fix. 
Tip 4: Find ways to reduce your gas expenses. You can achieve this by purchasing a fuel-efficient vehicle, such as an electric car or a hybrid. If you are not looking to buy another vehicle, consider reducing the number of miles you travel. Consider staying home a little longer if you’re usually on the go. You can also use an app like GasBuddy to search for the nearest gas stations and their prices, avoiding the need to drive across town to your favorite, low-cost station. 
Tip 5: Refinance your car payment. This is always a good option if you find your car payments are just too high. Shop around for low rates and try refinancing your car loan. This can save you a significant amount of money in expenses and reduce your monthly car payment. Triangle offers refinancing at competitive rates. Visit trianglecu.org to check the current rates and apply to refinance your vehicle.  
What did I miss? What are some other ways you save money on your car expenses?  
Let us know on social media. Share your tips and tricks. There may be someone else out there who could use the extra tips. Together, we can all save a little more.  
Vehicles can get expensive. The average American spends approximately $12,000 on vehicle costs annually, according to the U.S. Bureau of Labor Statistics (2023). Are there ways to cut those costs and save a little money on expenses?    
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day!
 
*The mention or use of the GasBuddy app in our materials is provided solely for informational purposes and does not constitute an endorsement or recommendation by Triangle Credit Union. We do not receive compensation or benefits from GasBuddy, and we are not affiliated with its developers or operators. Users are encouraged to independently evaluate the app and its features to determine its suitability for their needs. All trademarks and brand names are the property of their respective owners.
 

Tips to Avoid Phishing Email Scams - Money Tip Tuesday

In an era where technology is intertwined with our daily lives, fraudsters are continually devising new strategies to steal sensitive information from unsuspecting individuals. Among their most insidious tactics is phishing—a deceptive practice designed to manipulate you into divulging your personal information without your awareness. 
Learn more about KnowBe4 Awareness
Check out TCU University for financial education tips and resources!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday, brought to you by the Making Money Personal podcast! 
 Today, we’re sharing crucial insights inspired by an article from KnowBe4 Security Awareness and Training Solutions. 
Security Tips: How to Detect Phishing Emails 
As phishing activities increasingly proliferate, remaining vigilant is of paramount importance. Here are some key indicators to scrutinize before you take any action on an email: 
Is it Expected? - Take a moment to consider whether you were anticipating this email. If it appeared unexpectedly, exercise caution as it may not be legitimate. 
Is it Reasonable? - Context matters. Ask yourself whether it makes sense for you to receive this type of correspondence. If the content feels out of place or irrelevant, it’s wise to be skeptical.
Are There Grammatical Errors? - Pay close attention to the language used in the email. Messages that claim to be from established companies often contain spelling mistakes or poor grammar—this is frequently a clear warning sign of a phishing attempt.
Does It Contain a Link? - Always hover your mouse over links without clicking to verify their authenticity. For example, if an email claims to be from emailaddress@google.com but the link leads to a suspicious domain like website.yahoo.com, you’re facing a significant red flag.
Does It Have an Attachment? - Be cautious about opening attachments, as they might harbor malicious programs disguised as harmless files. It’s best to avoid clicking on attachments from unfamiliar sources.
Does It Create a Sense of Urgency? - A common tactic among phishing emails is to instill a sense of panic, prompting you to act quickly. They may claim to be from a high-ranking official or require immediate attention. Resist the urge to respond hastily—take a moment to assess and critically evaluate the situation to protect yourself from potential phishing attempts. 
Stay vigilant and take proactive steps to safeguard your personal information! 
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. 

Steps to Track Your Net Worth - Money Tip Tuesday

Have you ever heard people talking about net worth and wondered what it means? Well, today, you are going to learn!   
Links:
Watch our Financial Freedom Webinar to learn how to strategize and build a debt payoff plan
Learn how to set savings goals with Goal Builder 
Check out TCU University for 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. 
Net worth! What is it? Why is it important to track? How do you find out what your financial net worth is? All valid questions, my friends. First, let's define what net worth is.  
The dictionary defines net worth as "the total wealth of an individual, company, or household, taking account of all financial assets and liabilities."   
Most people will agree that the definition of net worth is simply: assets - liabilities = net worth.    
Now that we know what it is, why is it essential to track it?   
Well, it allows you to see your financial situation at any point and whether your wealth is increasing or decreasing. Tracking your net worth is important because it gives you a clear picture of your financial health and can help you make informed decisions about your money. Please know that it is very possible to have a negative net worth. This means that you owe more money than what your assets are worth. We'll talk a little more about this later.    
Now, let's take a look at how you can figure yours out. Are you ready? Ok... take out a piece of paper and a pen or pencil. Draw a line straight down the middle.    
On one side, you are going to write the word assets, and on the other, write the word liabilities.    
On the assets side, make a list of valuable items that you own… think bank accounts, investment accounts like 401(k)s, any real estate property that you may own, personal property such as cars, or other items that have value. Next to these items, write down their approximate value. Here is an example of what this may look like (we'll use easy round numbers for simple math):    
Bank Accounts - $5,000    
Personal Home - $300,000   
401(K) - $50,000   
Car - $20,000   
At the bottom, you will write the total for all assets. In this example, we will have a total of $375,000. Nice!   
On the liabilities side of your sheet, make a list of your liabilities. Liabilities are the debts that you may owe. Next to them, write the balance so again, for easy math, in this example, we will do   
Mortgage -  $210,000   
Credit Card Debt - $5,000   
Auto Loan - $10,000   
Student Loans - $50,000   
 
And that Home Equity Line of Credit you took out to fix up your house - $40,000   
At the bottom, you will write the total for all liabilities. In this example, we have $315,000. Ouch!   
Now, we have the numbers we need to calculate net worth. Remember, net worth equals assets minus liabilities.    
In my example, the assets total $375,000, while the liabilities amount to $315,000, resulting in a total net worth of $60,000. Not too shabby.    
Let's say you calculated yours, and you didn't like what you got. You got a negative number. This means that your debts exceed the value of your assets. Let's flip my example and say you have a negative $60,000.    
Do not get discouraged. Many families and individuals are right there with you. According to MarketWatch, one in five Americans has a zero or negative net worth.
You're not alone in this journey. Instead of dwelling on it, get motivated to get that number into the positive. You got this!   
Here are a couple quick tips on how to improve your net worth: 
Work to pay down existing debts. Focus on developing a method to really pay down debt. Read a book, attend a seminar, or watch one of our debt reduction webinar recordings on YouTube to learn all about the process of taking control of and tackling debt. Check the link in the show notes to watch.  
Avoid taking on any new debt. Put those credit cards away and try paying cash or use a debit card more. Even if only for a short time, this method can effectively help you avoid adding onto that growing debt pile and keeps you more conscious of spending habits. 
Adjust your budget to emphasize saving. Every saving opportunity can boost your net worth. Explore opportunities to increase savings like boosting retirement contributions, and opening a new account for emergencies or other long-term goals. 
For Triangle members listening to this episode, we actually have a lot of cool tools available within our online and mobile banking platform to help you track net worth, pay down debt and set savings goals.  
Check out Money Management within online and mobile banking to track your net worth as it grows, set budgets and even debt payoff goals.  
We also have a tool called Goal Builder that helps you set up and track savings goals within your Triangle savings accounts. This is great if you’re looking for an easy way to save more for emergencies, a new car, a house downpayment or any other long or short term goal.  
Alright, that's going to do it! I hope you learned something new today, and we've given you the motivation to look into your net worth and grow your wealth! Remember, it's never too late to start building your financial future.   
If there are any other tips or topics you would 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 and check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day!  

Make the Most of Your Checking Account - Money Tip Tuesday

Almost every adult has a checking account. Many of us may have more than one. Checking accounts are more than just a place to save and spend money, many come with additional benefits like saving perks, cash back promos and even protective services for you and your family. 
Links:
 Learn more about Triangle's Better Checking account with ID Protect
Already have Better Checking? Access your benefits through the Better Checking website. 
Check out TCU University for 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 the right financial institution is a significant decision, and we're thrilled that you've selected Triangle Credit Union as your trusted financial partner. Your trust in our institution is something we hold dear, and we are committed to providing you with a banking experience that goes the extra mile. At Triangle, we have a checking account that is right for everyone, at every stage of their financial lifetime. Now is an excellent time to review your financial goals, accounts, and the benefits available to you. Here are a few reasons why you should consider either a Basic or Better Checking account at Triangle Credit Union for you and your family: 
1. Worry-free Banking Benefits – Our checking accounts include the convenience of our network of surcharge-free ATMs, neighborhood locations, flexible branch hours, and peace of mind knowing that your deposits are covered up to $250,000 by the NCUA.
2. Team of Professionals, here for you – Our friendly, knowledgeable customer service representatives are eager to help you meet your goals.
3. More Savings and Benefits by Using Your Account Wisely – Let us show you how to use your account to its maximum advantage, such as getting cash back with Purchase Rewards and setting up direct deposit to get paid up to two days early.
4. Tons of Account Freebies – Mobile and online banking, remote deposit, and a free debit card are just a few of the things you receive as part of every Triangle Basic or Better Checking account. 
5. Additional Features with Better Checking - with a Better Checking account, you are entitled to additional features, for a nominal fee of $4.99 a month, that on their own could easily cost you more than $50 per month.
Identity Theft Monitoring Services – rest easy knowing that you have access to free monitoring services that can alert you if changes to your credit file are detected, or if your personal information is discovered on the dark web. 
Identity Theft Expense Reimbursement Insurance – up to $25,000 in reimbursable expenses if you find that you are a victim of identity theft. 
Professional Identity Theft Remediation Services – an experienced team of professional, certified identity theft recovery advocates will help you to reverse the damage if you suspect identity theft for any reason. 
Mobile Phone Protection – know that you can stay connected when the worst happens, and your mobile phone is damaged, or stolen. 
  
If you are already a Better Checking account holder, you’re ahead of the game and set up with great savings. 
Looking for ways that you can save even more? We’re only a click, tap, or phone call away. Reach out today–we are here to provide you with personalized guidance and can help you find the financial products and services that meet your needs. 
If there are any other tips or topics you would 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 and check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Retail Therapy: Understanding the Urge to Splurge - Money Tip Tuesday

Have you ever wanted to buy something, not because you need or want it, but because it makes you feel good? It may come about when you feel like celebrating a special event or a promotion, so you decide to splurge a little bit on something special. Or if you had a bad day and you need a little emotional boost, so you finally allow yourself that thing you've always wanted but have resisted buying in the past.
That's what emotional spending, also known as retail therapy, is. The harsh reality is that it occurs often for many people and can cause financial challenges if not kept in check.
Links:
For help finding a therapist visit Psychology Today to start a search
Check out TCU University for 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.    
Retail therapy is a way people cope with feelings, good or bad by purchasing items to either maintain a happy mood or to change a bad mood into a good one. The problem with relying on spending to improve your mood is that it can be too easy to overspend on things you weren't planning to buy in the first place. Unless you had a line item in your budget for impulse purchases, your retail therapy items weren't budgeted for at the beginning of the month.
Depending on the items you're purchasing, this could send your budget into a tailspin and add to an already increasing level of stress, possibly even leading to debt.  Emotional spending is something we all experience from time to time. But what happens when it becomes a problem? When we find we now have a larger credit card bill than originally planned for? Or when we have less money to cover certain bills because we decided to treat ourselves to a new vehicle, expensive clothing or the latest technology? How do we solve that issue? 
Well, the real fix to the spending damage depends on the type of spending you got yourself into, but there are ways to curb your emotional spending habit and keep yourself from making those unplanned purchases in the first place.  Here are some tips on how you can avoid falling into emotional spending.
Our first tip is to try the 24-hour or 30-day rule. The idea behind this rule is to wait a certain amount of time before making a purchase. If there is something you have your eye on, don't impulse it. Make a conscious effort to wait a little time before buying it. For some items, 24 hours is enough; for others, 30 days may be necessary. This tactic will help you keep your emotions out of your purchasing decision and help you avoid buyer's remorse. If you find that after the waiting time is up, you still want the item, then by all means, purchase it.  
Our second tip is to hide your credit cards. Don't hide them in a place where you'll lose them, but at least put them in a place where they may not be as accessible. Keeping them at a distance may decrease convenience and make it more difficult for you to emotionally spend.
Third, give yourself a budget item for spontaneous purchases. Allowing yourself some extra money a month is a great way to enjoy the freedom to treat yourself. Set aside an amount of money for those times you want to go out and buy yourself something nice. It keeps your budget in shape and keeps you in control of your spending.
And finally and most importantly, talk to someone about how you're feeling. If you find that you're repeatedly going shopping or buying items to cope with emotional or mental stresses, you may be struggling with something deeper. Find a trusted friend or family member and look for a therapist who can help you sort out your feelings and provide a good sounding board or fresh perspective on how you're feeling. A deep conversation is satisfactory for your mental health, and your wallet will thank you.
It is important to note that retail therapy might make us feel better but it does not solve our problems and should only be used in moderation. Emotional spending is something most of us will face throughout our lifetimes, but it's essential to ensure that our emotions do not drive our purchasing decisions. It can be too easy to lose track of our expenses, and our budgets will quickly crumble.  If you want to be the master of your money, learn to recognize the signs of emotional spending and use any of our tips to overcome the temptation to spend spontaneously.
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.