Making Money Personal

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.

Episode 83: Understanding Private Student Loans | Rich Neilsen from Granite Edvance

For some students, your college semester is coming to a close, while others are preparing for the fall and their first semester, whether you're a seasoned or a new student, paying for college, is not easy to navigate.
Stay tuned as we talk with Rich Neilsen, Lending Products and Partnerships Manager from Granite Edvance, about private loans and how they can fit into your plan for financing college tuition.
Links: 
 
Learn more about Granite Edvance's resources and opportunities
Contact Granite Edvance to get in touch with a counselor or other staff
EPISODE SPONSOR: New England Royal Service
Explore Upcoming Events for college planning and funding webinars
Check out TCU University for financial education tips and resources!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union 
 
 

Five Strategies to Improve Your Credit - Money Tip Tuesday

Keeping your credit score in good standing is a great way to dramatically reduce the amount of interest you pay on a mortgage and other loans. But.. how? How do we get our credit score up to a number we can be proud of? Well, today, you're going 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.  
Do you ever look at someone who has done something remarkable? Something that may take you forever to complete? Guess what? They didn't do that amazing thing overnight. It may have taken them months or, more likely, years before you saw the result. Overnight success is not something that happens often.  
Building a solid credit score and profile is a long-term investment in your financial future, much like the remarkable achievements you admire in others.    
It will take time, effort, and, most importantly, responsibility to get a credit score that will get you the lowest interest rates and terms on loans should you ever need them. Responsibility is the key to unlocking the potential of your credit score and securing a better financial future.    
In this tip, I am going to share with you five ways to help improve your credit score:    
Never miss a due date.    
Paying your bills on time is the golden rule for maintaining a good credit score. Your payment history will show whether or not you have paid your bills on time, and this is a significant factor that plays into your credit score. Missing a due date can lead to late fees, increased interest rates, and a negative impact on your credit score. Enroll in auto-pay to ensure your payments are automatically deducted from your checking account, guaranteeing they will not be late.  When doing this, just remember to ensure there are sufficient funds in your checking account so you don’t get charged overdraft fees.  
Keep Your Balances Low.    
If you have a credit card or another form of a Line of Credit, be sure to use only a portion of the available credit that has been extended to you. A general rule of thumb is to use no more than 30% of your credit line. So, for example, if you have a credit card with a $1,000 line of credit, a good rule is not to use more than $300.00 of that limit. This is referred to as your credit utilization, and it is another factor that influences your credit score.   
If you need to stop, stop, but don't close.    
The older we get, the more mature and trustworthy we should become throughout our lives. The same goes for credit. If you have four credit cards and the first one you have is 4 years old, and the rest are 1 or 2 years old, Let's say you close the first one you got because there are no benefits associated with using it; you will reduce the avg age of your credit profile. The longer the average age, the better because it shows you have experience managing debt, and it gives lenders a more extended history to examine when considering a loan for you.   
Don't Apply for Everything Thrown Your Way   
As you develop credit, you will be thrown offers left and right from lenders saying you are pre-approved or pre-qualify for their products. When you apply, your credit score will be affected, and the inquiry will remain on your credit report for 12-24 months. So, only apply for lines of credit or loans that you truly need and can use responsibly. Try to space out the times you apply by at least one year. But it's even better if you wait longer.    
Be Well Rounded   
To be particularly attractive to lenders, it is beneficial to have experience with various types of credit. For instance, having a mix of credit cards, student loans, and a mortgage can demonstrate your ability to manage different types of debt responsibly. It’s okay to have a variety of debts, and can actually help boost your score a bit.  
And there you have it.. 5 ways to improve your credit score.  
To recap, the five ways are:    
Never Miss a Due Date  
Keep Your Balances Low  
Don't Close Your Credit Cards  
Don’t apply for everything thrown your way  
Be Well Rounded.    
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 Book Review: The Millionaire Next Door - Money Tip Tuesday

What does being wealthy truly look like? We imagine having big fancy houses, exotic vacations, and high status jobs. But what if I told you that most millionaires, even decamillionaires today, might not look quite like the famous person on your tv or phone screen, but more like your average Joe, living in a house down the street? That scenario is more than norm than you may realize, and that’s good news for everyone.  
Links:
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
Learn more about this Money Tip's sponsor: New England Royal Service
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.  
Today’s Money Tip is proudly sponsored by New England Royal Service. A local NH business offering commercial cleaning and property maintenance trusted for its exceptional service. Visit neroyal.com to learn more and show us a little love by mentioning this podcast when you reach out! 
Now back to today’s tip. 
Reading books is a powerful way to shift your mindset about money and finance, along with gaining practical techniques to achieve your desired financial life. One notable book is The Millionaire Next Door by Thomas J. Stanley and William D. Danko. First published in 1996, the book delves into the habits of the wealthy, challenging many common misconceptions about wealth. 
The authors break down key concepts that question the stereotypical views of wealthy individuals. For instance, wealth isn't always visible, and attaining it isn't solely dependent on income or profession; anyone can adopt wealth-building practices. This idea is fundamental, as many believe wealth is an exclusive domain, locked away by a hidden secret known only to a select few. However, the book demonstrates that with intentionality, focus, and cultivated habits, anyone can build wealth. 
Stanley and Danko conducted thorough research across various demographics to uncover what distinguishes wealthy individuals from those who are not. The findings are often surprising. The common belief that a high salary guarantees wealth is swiftly debunked; while income does play a role, how individuals manage their finances holds greater significance.  
Another revelation from the book is that appearances can be misleading. A person flaunting a large house, designer clothes, or a luxury car may not be financially secure. The pressure to project an image of wealth often incurs hidden costs. The authors shared, "many people tell us that you can judge a book by its cover, meaning that high-grade doctors, lawyers, accountants, and so on are expected to live in expensive homes. They also are expected to dress and drive in a style congruent with their ability to perform their professional duties."  
Interestingly, surveys discussed in the book indicated that many millionaires do not prioritize purchasing luxury items. They tend to be frugal, preferring utility over showmanship when it comes to their spending habits. For instance, their survey results showed that the average American millionaire never spent more than $399 on a suit, with a quarter spending $285 or less. Additionally, about half never spent more than $140 on shoes, and many did not exceed $235 on a wristwatch. Remember that the surveys were conducted in the 90s, so the actual dollar amounts may have shifted a little bit since then.  
The authors highlight a critical distinction between high wealth accumulation and the ostentatious display of wealth. They state, "...some people judge others by their choice in foods, beverages, suits, watches, motor vehicles, and such. To them, superior people have excellent tastes in consumer goods. But it is easier to purchase products that denote superiority than to be superior in economic achievement."  
Such insights highlight the significant role of frugality in wealth accumulation, which is often overlooked. The authors state, "Being frugal is the cornerstone of wealth-building. Yet far too often, the big spenders are promoted and sensationalized by the popular press. We are constantly barraged with media hype about so-called millionaire athletes, for example." 
The book encourages readers to realize they have more control over their financial destinies than they might think. Adopting millionaire habits can be achievable for anyone. For example, individuals can adjust their consumption patterns to reduce spending and enhance savings. Moreover, selecting a career with a clearer understanding of associated costs and responsibilities—be it pursuing a doctorate or starting a business—can maximize financial outcomes. 
Encouraging a 'pay yourself first' mentality in personal and family finances is another valuable takeaway. This mindset helps prioritize saving over unnecessary spending, providing a sense of security and control over one's financial future. 
If you're considering reading the book, there are a few points to keep in mind. The wealth of data and statistics presented may come across as dry if you're not inclined toward research-driven narratives. Furthermore, since the book was initially written in 1996, some of the information may now seem outdated. My copy was republished in 2010, but monetary values and occupational statistics have undoubtedly evolved since then. A dollar in 1996, for instance, had greater purchasing power than it does today, which can affect how some financial principles are perceived. 
Overall, The Millionaire Next Door offers valuable insights into the habits and mindsets that contribute to wealth accumulation. By debunking common myths and encouraging practical financial habits, it provides a more accessible view of how anyone can work toward financial success, equipping readers with actionable steps to improve their economic situation. 
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 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. 

5 Reasons to Vacation in an RV - Money Tip Tuesday

Craving freedom, flexibility, and a front-row seat to nature’s wonders? Whether you're chasing sunsets or seeking spontaneous detours, RV vacationing can save you hundreds on lodging and dining costs. Discover five compelling reasons why vacationing in an RV might just be the ultimate way to explore the open road. 
Links:
View Bankrate's Summer Vacation Survey
Check out Triangle's competitive RV Rates and low-rate auto loans
Learn more about this Money Tip's sponsor: New England Royal Service
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. 
Today’s Money Tip is proudly sponsored by New England Royal Service. A local NH business offering commercial cleaning and property maintenance trusted for its exceptional service. Visit neroyal.com to learn more and show us a little love by mentioning this podcast when you reach out! 
Now back to today’s tip.  
Summer is right around the corner which means you are probably planning your summer vacations with loved ones. Ditch the family vacation to the amusement parks this year and take the family on a road trip in a recreational vehicle or camper!   Here are 5 reasons to vacation in an RV: 
1. Cost-effective travel. According to Bankrate’s Summer Vacation Survey, 47% of Americans chose not to go on a summer vacation in 2024—65% citing affordability as the reason.  One of the biggest vacation costs is transportation, which includes airfare, car rental, parking fees, gas, etc. Now factor in the cost of a hotel room and food on your vacation, and the costs really add up.   When you vacation in an RV, your transportation and place to sleep are rolled into one which helps cut down on costs. Plus, RVs have small kitchen areas included to stock up on food staples before you begin your trip. Instead of eating out for every meal, you can cook some meals in your RV and lower your total vacation costs.  
 
2. Flexibility. Gone are the days of booking a vacation based on the cheapest flights or hotels. RVs give you increased flexibility because when you are traveling and staying in your own mode of transportation, you are not locked down to specific dates and times for vacation.  
There’s also flexibility if something occurs and you need to delay your vacation by a week. You don’t need to worry about changing flights or booking new accommodations because you are traveling in your own mode of transportation.  
3. Bring Your Pets. Another pro of vacationing in an RV is being able to bring your pets along. Instead of asking your friends or family to take care of them, or even paying to have someone look after them, you can take them along as travel companions.  
Not only is this a good choice for your finances, but it also provides peace of mind so you can spend your vacation relaxing instead of worrying about how your pets are doing without you.  
4. Privacy and Comfort. Why would you want to squeeze into the middle seat of an airplane when an alternative is being able to stretch out in the sleeping area, sit in the dining area enjoying a meal or even using the private bathroom while traveling to your destination.   When it comes to sleeping, you have the security of having your own space which can help you feel safer than an AirBnB when in an unfamiliar place. Plus, you can tow your own car behind your RV; that way if you want to explore each destination a little deeper, you can do so in your own car and can avoid a rental car.  
5. Bring Home with You Wherever You Go. Another benefit of vacationing in an RV is bringing and using what is most familiar to you. We’ve all had a terrible night stay at a hotel while on vacation because the pillow just wasn’t right or the blanket was too rough. When you vacation in an RV, you can bring your own pillows and blankets (among other things) with you for those comforts of home.    RVs provide more storage space as well which means you aren’t confined to just what you can pack in a suitcase. In addition to more clothes, shoes, and bedding, RVs offer the opportunity to bring other things you can use on your vacation.  Maybe you have bicycles or kayaks that you want to use when exploring your new destination; if so, you can bring these along with you when you have the space in an RV! 
If you’re ready to take the plunge and finance an RV or camper, check out Triangle Credit Union’s competitive rates. We also offer low auto rates on new purchases and vehicle refinancing! 
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 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.