Making Money Personal

Why Not Get Paid Two Days Early? - Money Tip Tuesday

If someone offered to pay you earlier than expected, wouldn’t you be ecstatic? If you have Direct Deposit with your employer, then you may have the option of getting paid up to two days earlier! Listen to this tip to learn more.
Links:
Learn more about Triangle's checking accounts with Early Paycheck
Download the direct deposit form to get started
Check out TCU University for more financial education tips and resources!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
Transcript:
This is Money Tip Tuesday from the Making Money Personal Podcast.
I know, getting paid up to two days early from your employer sounds too good to be true, but it is, in fact, true and here’s how it works: Most companies send payroll information up to two days before funds arrive. If your credit union offers Early Paycheck (or a similar product/service), the credit union can release your paycheck into your account early.
To take advantage of this, there are three requirements that must be available to you:
(1) You must have a direct deposit service set up with your credit union, which means your employer must offer direct deposit. If you’re not sure that your employer offers direct deposit, ask your HR department or manager if this is available to you.
If Direct Deposit is available, sign up as soon as possible. There are many benefits of Direct Deposit that will be presented later—at the top of list is Early Paycheck. Setting up Direct Deposit is simple. Fill out a Direct Deposit form, which you can get either from your credit union or employer. All forms pretty much have the same information but look a little different. You will need your routing number of your financial institution (this can be found on their website), the account number where you want your paycheck deposited (this is usually a savings or checking account), and a voided check.
(2) Your credit union or financial institution must participate in the early payment or paycheck option to have funds available for you. Availability of your payroll funds is based on the release of payment information. Sometimes there can be issues with the electronic transfers, so keep in mind that you may run into delays on occasion. If these issues are ongoing, you should contact your HR/Payroll Department or the credit union for additional information.
(3) Your company’s payroll must be on board with transferring the payroll files electronically. Many companies have third party services that process payroll for their employees. Payroll companies, like ADP, are consistent about processing and sending files in a timely manner.
Now that you know how it works, let’s go over some benefits of Early Paycheck with Direct Deposit: 
First, it’s all about cash flow. The sooner you have access to your paycheck, the better—whether that means you use it to pay bills or your best friend for picking up the dinner tab last night! 
Better cashflow usually makes it easier to manage your money because you know when funds are available to you. This is tremendously valuable when you are on a budget. Direct deposit makes your life so much easier! Your paycheck is automatically deposited at your credit union so you don’t have worry about remembering to deposit your check yourself! 
Plus, electronic fund transfers are safe and secure. You don’t have to think about where your paycheck is or losing it! You also have access to your funds faster.  When the electronic transfer is received and applied, your payroll funds hit your account without any hold restrictions, which means you can use your money as soon as it is deposited.If your employer offers Direct Deposit, take advantage of this huge time saver!
For those who may not have Direct Deposit available, we recommend Remote Deposit Capture (RDC). Most institutions require registration for this service, but once RDC is turned on, use your mobile banking to deposit checks from anywhere.
RDC is convenient. Just endorse your check (be sure to read the endorsement instructions within your app) and follow the photo prompts on your phone. The prompts will ask you to take a picture of the front and back sides of your check. Hit submit and you’ll get a confirmation that your check has been submitted to your institution.
For more information about RDC as an option, contact your credit union.
If you have any additional tips or would like us to cover a specific topic, email us at tcupodcast@trianglecu.org. 
For more great content, be sure to subscribe to our Making Money Personal podcast wherever you listen to podcasts and follow us on Facebook.
Special thanks to our sponsor, Triangle Credit Union and to you for tuning in!
Have a great day!

Top Reasons to Use Your Debit Card - Money Tip Tuesday

When it comes to payment options you may think that credit cards are the most popular ways to pay.  But you may be surprised that that’s not actually the case. If I told you debit cards are the top used payment method for Americans would that surprise you?  
Links:
Look into more credit/debit card statistics and trends
Read more about American household debt statistics
Learn more about our debit card features and benefits as well as Identity protection with our Better Checking account
Check out TCU University for more financial education tips and resources!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
I think it’s safe to say that we all love to spend money and we certainly have a lot of options to choose from when we do so.  
When it comes to paying credit and debit cards are the top preferred methods. But, which one do people use more?  
According to a 2023 Forbes survey, 54% of Americans use a debit card as a primary payment method. That same survey stated that only 36% use a credit card (physical or virtual). 
Why are debit cards so popular? Well, there are few reasons why people haven’t yet abandoned the debit card when they make purchases. 
Debit cards are more accessible. Because they're not dependent on a credit score, they’re available to people with lower or no scores at all. Even if your credit isn’t in great shape, you can still get one because all you need is a checking account. This makes them especially useful to teens and young people who haven’t established any credit yet. Debit cards give many people convenient access to their funds so they can pay online and in stores without needing cash or dare I even say it... a check.
One little caveat to remember though is that debit cards do not help you build credit so you’ll need to explore other options if you’re looking to establish or boost your credit score. 
Debit cards are just as convenient as credit cards. You can add to your phone’s wallet, use them in online checkouts and now the newest cards enable you to pay at contactless terminals. And just like many credit cards, you get access to card controls to turn it off and on, set up notifications when you make a purchase and set up travel alerts when you’re ready to venture across states or out of the country.
You can still get rewards. Everyone loves to gush about the cool rewards they get through their credit cards, but with a debit card you can get rewards too. Your debit card likely participates in a rewards program that gives you a percentage of cash back or other special offers just for using it with certain vendors. At Triangle, we offer a Purchase Rewards program where you can earn a percentage back when you activate the vendor offer and use your card with that vendor.
Debit cards don’t charge an annual fee. Popular credit cards that offer attractive rewards and offers typically come with an annual fee. The better the offers, usually the more expensive the fee. If you have one of these cards, you may be spending anywhere from $95 a year to over $400 a year. Debit cards don’t charge you anything to use them so you don’t have to worry about that annual surprise charge.
Debit cards are quick to replace. If you lose it, break it or anything happens to it it’s really easy to get a new one. At Triangle we have Debit on Demand which offers instant issue cards. If you need a new card just walk into a branch and within a short time you’ll walk out with a brand new one. Try doing that with a credit card.
And the last reason is probably the biggest one. Debit cards don’t contribute to debt. According to a Motley Fool survey, Americans are carrying over $17 trillion in debt, with just over 1 trillion of that being credit card debt. TransUnion reported that on average, individual card holders are carrying around $5,700 in credit card debt. If you’re debt averse or trying not to get deeper into debt, a debit card will be your best friend. Using a debit card forces you to pay closer attention to how much you’re spending to avoid overspending and makes it easier to maintain control of your finances. 
If you have a debit card but aren’t using it much. I hope this tip will help remind you to take it out and use it a little more.  
If you haven’t set one up yet here are just a few things to keep in mind when you get started. 
Remember to set up overdraft protection so you don’t get charged fees in case you accidentally charge more to your card than what’s available in your checking account. 
Make sure to register your debit card with an identity theft protection service like Triangle’s ID protect with our Better Checking account so it’ll be constantly monitored for fraud. 
Familiarize yourself with the card controls so you know how to turn your card off and on and to set notifications to stay on top of every transaction 
Last but not least, if you use a mobile wallet, remember to add your debit card so you can use it the next time you pay with your phone. 
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  
Thanks for listening to today’s Money Tip Tuesday and check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Is It Time To Move Your Money? - Money Tip Tuesday

If you’re with a big bank that requires you to carry a hefty balance in your checking to avoid a maintenance fee, is it time for you to move your money?
Listen to this tip to learn how switching to a credit union can save you from the struggle and annoyance of high bank fees.
Links:
Learn more about Triangle's checking accounts with no minimum balance
Learn about Triangle's credit union mission and core values
Read the Reuter's article about Bank of America's excessive fees 
Read the Investopedia article about the Benefits of Using a Credit Union
For more financial education tips and resources visit TCU University!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
 
Transcript:
I was recently in a meeting and one of our branch managers mentioned there were several new account openings at her branch during the week. When branch staff asked these new members how they heard of the credit union, their answers varied. Some provided feedback that they saw us at some community events, and another responded one of their family members had referred us to them.
What was interesting is that while they had varied reasons for how they heard about us, their answer to the next question was the same. Her question was: why are you moving from your current bank to the credit union? All three answered: I’m tired of the high minimum balance requirement on my checking account. They moved their money—if you’re with a big bank that requires you to carry a hefty balance in your checking to avoid a maintenance fee, is it time for you to move your money too?
This is Money Tip Tuesday from the Making Money Personal podcast.
A minimum deposit for a checking account is not uncommon. Most financial institutions require a minimum deposit to open an account—whether that money is deposited into a savings or a checking. It’s this initial funding that establishes your account and relationship with the financial institution. According to Forbes, you usually need to make an initial deposit between $25 and $100 to open a savings or checking account. For other deposit products, such as Certificates of Deposit or Money Markets, the minimum to open those accounts is higher and varies depending upon terms.
For higher yield deposit accounts, such as Money Markets or Online Savings, the minimums are traditionally higher. The issue most consumers have with high minimums rarely involves these types of deposit products.
The frustration most people have is not about the initial minimum deposit, it’s about the required minimum balance in the checking account to avoid the monthly maintenance fee; sadly, this amount, for some big banks, has increased to unreasonable levels.
Most consumers are looking for excellent value. That’s why people bank at credit unions—typically there are fewer fees, or low fees and competitive rates for both deposit and lending products.
If you go back to our three new members, they were all facing increased minimum daily balance requirements with their checking because the balance on their regular checking, which was not high yield checking, increased to $1000. This means their checking account minimum increased to a level they weren’t comfortable with (and for some consumers, a balance that is unaffordable), which is why they decided to move their money.
So, what happens if your balance falls below $1000? The short answer is you will be hit with a monthly maintenance fee, which opens up a whole other concern.
Big banks are notorious for imposing big fees. Bank of America (BOA) was fined $250 million, earlier this month, for a series of financial violations, including junk fees.
According to Reuters, “Bank of America reaped hundreds of millions of dollars by charging multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022, the CFPB said in a statement. Consumers could not reasonably expect or understand they would be hit with $35 fees each time the bank declined to pay a single transaction, regulators said.”
If you find yourself at the mercy of big banking fees, and you’re tired of high minimum balance requirements on your accounts or transaction fees at the teller line, it’s time to move your finances to your local credit union because, honestly, we look at banking differently.
I work for a credit union, so I became a believer a long time ago, but for those who are exploring new options, the Credit Union movement was founded on the principle of “people helping people,” not feeing our members to death!
According to Investopedia, one of the top reasons to bank at a credit union is because of lower fees, “credit unions are free to pass surplus money to members in the form of fewer fees, more services, lower interest on loans, and higher dividends on deposits.”
Fees are the cost of doing business but for financial institutions with a conscience, there are limits. For instance, most credit unions are reluctant to raise fees and before any new fees are imposed, they are scrutinized at all management levels. Triangle Credit Union eliminated five fees this year; sadly we had to raise a loan origination fee because our costs increased exponentially.
If you’re already a member of a credit union, let me say, “Well done! You’re a financial genius!” If you aren’t, you’ve probably lost $16 while listening to this money tip! Just kidding.
Seriously, I have several friends who recently moved their accounts to a local credit union because of financial safety and soundness, lower minimum balance requirements in checking, and fewer fees. So, whether you’re just starting your financial journey or a seasoned professional with a great salary, credit unions are the right move.
Have any more great tips? If so, please contact us tcupodcast@trianglecu.org. For more great tips and full episodes, subscribe to the Making Money Personal podcast, wherever you listen to podcasts and follow us on Facebook!
Many thanks to our sponsor, Triangle Credit Union, and you—our listeners!
Have a great day everyone!
 

Episode 60: The Protective Benefits of a Better Checking Account | Jennifer Carter

What matters to you matters to us as a campaign that our sponsor Triangle Credit Union introduced earlier this year. In an age of identity fraud and high stakes scams, we're going to dive into identity protection with Triangle's Product and Service Specialist, Jennifer Carter.
Stay tuned to learn how Triangle is protecting their members and why your financial institution should too!
Links:
Learn more about our Better Checking account with Identity Protection
Learn more about why you should consider identity protection for you and your family in our past podcast episode: Why You Should Consider Identity Theft Protection 
Log into your ID Protect account at idprotectme247.com
Explore more financial education resources at triangleuniversity.org
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
View episode transcript.
 
 

7 Elements to Market Your Business on a Budget - Money Tip Tuesday

If you want to boost your business’s brand recognition and get more attention from potential clients or customers, you’ll need to put some effort into marketing.
You may think that marketing isn't possible without a hefty budget, but that can’t be farther from the truth. There are ways to market your business in a cost-effective and budget friendly way.  
Links: 
 Explore some of these popular tools and websites to market your business on a budget:
Canva
Envato
Fiverr
Wix
Squarespace
Wordpress
Vistaprint
Custom Ink
For more financial education tips and resources visit TCU University!
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
Transcript: 
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
When it comes to marketing your business, it doesn't have to be expensive or complex to reach new potential customers. Marketing can make business owners feel intimidated and hesitant to take the next step. However, with certain sources, marketing your business couldn’t be much easier and once you have a plan, promoting your business will get better over time. Let’s look at 7 elements to help market your business on a budget. 
Consistent Branding
Having good, consistent branding will help your business become more recognizable to current and potential customers. If you're just starting your business, you may not have branding guidelines established yet. If you’ve been in business for some time, you probably already have your brand logo, colors, and fonts in your marketing materials. These marketing materials are your website, social media platforms, print and digital materials, promotional items, and business emails. 
If you want to create your logo on your own, there are free websites and applications available to you. Canva and Envato are two platforms that allow you to customize or create free logos for your brand. These platforms also provide templates for your marketing materials including website, social media, and print/digital materials. If you’re new to creating branded content, this is a great way to dive into it while keeping your branding consistent. 
If creating a logo and other branding material isn’t for you, you can also hire a graphic designer to create your logo and marketing materials for a low cost. Fiverr is a great resource to find graphic designers that will create a logo and other marketing materials for you. If you choose to use Fiverr or something similar, make sure you choose someone that has a design style you like and stay firm on the finalized designs to ensure they deliver what you’re looking for. 
Create a Website
When it comes to marketing your business, creating a website is a great place to start. Your website does not have to be too complex; it can simply provide basic information about your business, product or service, the team, and your contact information. As your business grows, you can advance your website by including a blog, Q&A, or even a shop page to sell your product. 
When considering the domain, or URL, for your website, make sure it matches or is close to your business’s name. For example, for a business called Dover Cold Brew Company, the domain name should be www.dovercoldbrewcompany.com, www.dovercoldbrewco.com, or www.dovercoldbrew.co. 
Take some time to think about what you want your website to look like and the story you want to tell. Websites don’t need to be completed. For a small business, 3-5 pages should be plenty. Make sure you focus on the products or service you’re selling and how potential customers can get in touch with you. 
Once you have an idea about the content you want to put on your website and the domain name, you will need to decide which platform you will build your website with. Wix, Squarespace, and WordPress are three popular website-building sites. These sources are great for business owners that are 
looking to promote their products and service without the hassle of coding the web pages themselves. There are plenty of templates that can be dragged-and-dropped from these sites, and all you will need to do is input your information. If you prefer, you can outsource this task as well by hiring a web designer to design your website. 
*Important note: domain names do have a price tag depending on the website platform or web host you’re using. For some platforms, the domain name is free for the first year and then will charge a yearly fee afterwards. 
Social Media
Social media is a fantastic way to promote your business with little to no cost. Facebook, Instagram, YouTube, and LinkedIn are the most popular channels when you are first starting out. The social media content you post on these channels can cover various aspects of your business. 
YouTube is a great platform for long-form, educational videos. Instagram is useful for photos or short-form videos that focus on the features of your product or service. Facebook is a platform for photos, videos, or longer posts that include links for consumers. For company related developments, new products/services and networking with similar businesses, use LinkedIn. 
A good step is to develop a strategy plan for posts across all platforms to show off your business using photos and videos along with great captions below them. These social media posts can use templates and formats from Canva, a free source that is quickly accessible and easy to use for anyone creating content. 
Email Marketing
Email marketing is direct messaging to past customers or potential customers that have signed up to receive more information on your business, products, or services via email. You can utilize this form of marketing to promote new releases or send coupons/discount codes to entice your customers to make more purchases. These keep your customers updated and can attract them to come back and purchase more of your products or service. Email marketing can also be a great way to advertise events or sponsorships. 
Free Trials & Coupons
Depending on the product and service your business provides, customers are always going to be cautious about what they're buying and who they’re buying from. If you offer a free trial or a coupon to your business or service, it can comfort potential customers and gain trust in you and your business. For example, if you have a home improvement business, it would be beneficial to offer a free roofing consultation rather than the client being hesitant about buying a new roof. These offers allow customers to see what your business is all about and what your product or service can do for them. 
Events & Sponsorships
Participating in or sponsoring local community events can bring buzz for your business and can be a great way to network with potential partners while connecting with your community. Local events will also give you the opportunity to interact with current customers and make that brand trust stronger. Events give you the chance to provide giveaways such as promotional items or print materials that go 
into further details on your products and services. Don’t forget to bring your business cards to pass out to potential customers or vendors. 
Print Materials & Promotional Items
Print materials and promotional items are great to attract customers and make your business stand out. This can be a brochure, a handout flyer, or even a small giveaway like a pen with your business’s name across it. These materials can be created by sources like Vistaprint, Canva, and Custom Ink. 
All these elements are essential to marketing your business without breaking the bank. Affordable resources can help you improve your business, gain customer attraction, and gain trust in the community. Research will always be an important factor towards these marketing elements to find the right source for the right price. 
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

What To Keep In Mind When Buying Bulk - Money Tip Tuesday

Have you ever run out of something and wished you had bought more when you were at the store? Buying in bulk can often fix this problem. You get more bang for your buck, with bulk prices generally being cheaper than buying the same amount of the item individually.
Plus, you also have a bigger supply and won’t have to go shopping as often. However, there are some items that you do not want to buy in bulk as they just aren’t worth it. Here are some items to put on your bulk shopping list, and some you should remove. 
Links: 
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.  
First on our bulk shopping list is food. Food can be tricky when buying in bulk, as it can expire if you don’t eat it fast enough. Canned goods are a great food to buy in bulk. When buying them in bulk, the prices are typically 30% percent cheaper than buying them individually. Always check the expiration date on the cans first, as you don’t want to buy a whole bunch of them if you don’t think you can eat them all before they expire.  
If you have a big freezer, buying meat in bulk is a great idea. If you go to a local butcher store, you can get large quantities of meat for cheaper prices than you find in a grocery store. However, you may want to get a vacuum sealer to avoid freezer burn.  
If you drink coffee once (or twice) a day, you should also buy that in bulk. Buying individual bags, pods, or drinks can quickly add up over time. Buying it in bulk is cheaper, especially if you drink a lot. 
Pasta is another food you should buy in bulk. Pasta doesn’t take up a lot of space in your pantry, plus when it is sealed properly, it can last up to two years. 
While not for you to eat, pet food is a great investment when buying in bulk. Chances are you feed your pet the same thing every day, so you know that you will have to keep buying it. Buying pet food in bulk allows you to save money on pet expenses and keep your pet happy. 
However, there are definitely some foods that you should not buy in bulk. One example of this is fresh fruit. Fresh fruit doesn’t last very long, and chances are you won’t be able to eat all of it before it expires. Buying fruit in smaller quantities allows you to eat all of it before it expires. Plus, when buying fresh fruit in bulk, you most likely won’t inspect the fruit to see if it’s good to eat. If you still plan on buying fruit in bulk, try buying frozen fruit, as it will last longer. 
Another food you shouldn’t buy in bulk is nuts. Although it is tempting since they are a lot cheaper to buy in bulk, the high fat content in nuts can make them turn rancid faster. Similarly, spices are another item to not buy in bulk, as they begin to lose their flavor after 6 months. A good rule of thumb is if the food has a close expiration date, don’t buy it in bulk.  
Moving on from food, paper materials are always a great purchase in bulk. Tissues, toilet paper, and paper towels are a great investment, as you will always need them, they don’t go bad, and they are cheaper when you buy them in bulk.  
Likewise, all cleaning supplies are great and cheaper in bulk. This can include laundry detergent, soap, shampoo, toilet cleaner, and even toothpaste.  
However, if there’s an item that you can buy in bulk but don’t use very often, don’t buy it. Just because it might be cheaper in the long run, doesn’t make it worth it. Remember, you still have to store all of this stuff at your house. Only buy what you know you will use. 
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts. 

What to Consider Before Buying Pet Insurance - Money Tip Tuesday

For many of us, our pets are a part of our family. They bring us excitement and comfort that we enjoy for many years. But pets also come with costs.  
With all the costs you need to dish out for pets, like grooming, food, supplies and more, another expense to consider is pet insurance. With the costs already associated with owning a pet, is it worth paying for pet insurance too?  
Links:
Explore more about the pros and cons of pet insurance 
Follow us on Facebook, Instagram and Twitter!
Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
When it comes to affording the things we want in life, our pets likely sit close to the top of our list.  
But as pet owners often learn, having a pet comes with responsibilities that can take up a lot of resources. One of these responsibilities is keeping your pet’s health which may wind up costing you money in vet bills and care.  
The reality is that pet bills can be expensive.  
It can be devastating when your pet faces a crisis that may leave you struggling to decide between your pet’s life or your financial health. 
Let me tell you a story. A friend of mine got a new puppy and within weeks of getting this little bundle, the puppy had a serious emergency and my friend had to rush him to the emergency vet. The vet was able to save the puppy’s life, but my friend was left with a bill for over 60K for all the costs associated with the care and treatment.  
Regardless of whether you think that’s enough or too much money to spend on an animal, before you pass any judgement, ask yourself how much you’d be willing to pay for your animal and whether it would be worth paying for coverage in case a situation like this arises. 
There’s no right or wrong answer on whether to buy pet insurance, but if you’re serious about dishing out money for expensive care and treatment, it may make sense to purchase pet insurance. 
If you choose the right option, it can give yourself a healthy financial buffer to avoid getting buried in pet medical bills.  
There are three types of pet insurance coverage you should be aware of.  
The first is accident-only. This covers only accidents and includes any testing, procedures and medications related to the accident. It can cost roughly $130/yr for cats and $239/yr for dogs. 
The second is accident and illness. This one includes everything covered in an accident-only policy. It also covers common and serious illnesses your pet may endure as well as certain hereditary conditions. It covers any testing, procedures and medications related to anything from accidents to illnesses and can cost roughly $342/yr for cats and $583/ for dogs. 
The third is routine wellness. This covers routine and preventative care as well as wellness care like routine checkups, vaccines, flea and heartworm prevention. It does NOT cover illnesses and accidents and is considered more of an optional add-on to existing plan coverages 
 If you’re considering pet insurance, here are a few ways to determine if pet insurance is worth it for not only your finances but also your four-legged friend.  
Pet insurance does depend on a few things.  
It depends on the type of pet you have and it’s specific needs. Larger animals like dogs will generally cost more in premiums than smaller animals like cats. In many cases, companies do not cover animals other than cats or dogs so you may have to do some hunting to find a company that might cover your specific pet.  
It depends on how much are you comfortable spending on pet expenses. Sometimes a $1,000 bill is doable, but is a $10,000 bill worth it? If you don’t want to pay for pet insurance, you may want to put some money aside for your pet in case something does happen. Determine your financial limit then set up a sinking fund specifically for pet costs so you can cover any unexpected issue that may occur. 
It’s depends on how old your pet is. The age of your pet will determine how much you’ll pay in premiums. The younger your pet is when you buy insurance, the cheaper your premium will be.  
It depends on what type of breed your pet is. Some pet breeds are more prone to illnesses and health problems than others. If your breed is more likely to develop certain medical issues with age, you may need to prepare for some of the health care costs associated with those genetic pre-dispositions that can show up down the line.  
It depends on whether your pet has pre-existing conditions. Not all insurance may cover these, so make sure you know before signing up for something that won’t cover your costs. 
  
Taking care of your beloved pets and your financial health should both be at the top of your priority list. That’s why it’s important to weigh the options to make sure you take the best care of not only your pet’s health but your financial health as well.  
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

This Simple Tool Can Help You Defeat Debt - Money Tip Tuesday

Have you been burdened by an ever-growing credit card balance? According to CNBC, the average American carries around $5,733 in credit card debt. Some have more, others less. But almost everyone wants it gone.  
Believe it or not, there’s a simple method to reversing that growing credit card debt. It’s not the easiest method, but once you perfect it, you can kiss all that accumulating debt goodbye.  
Links:
Learn more about Triangle's Checking Account and how to get your debit card
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.  
How many credit cards do you have? 
If you’re like me, you probably have at least two or three.  
Do you pay them off regularly?  
I’ve been one to pay my card balances regularly, but with increasing costs of goods and the occasional impulse purchase, a couple small vacations and a few home repairs, those balances grew faster than I was able to keep track of.  
So I started the credit card juggling act.  
If one card balance was coming due, I’d simply start putting charges on a different card. I’d pay off the card balance that came due but continued to add other cards in the mix until I was juggling four separate cards with revolving balances all due at different times of the month.  
Talk about a headache. Not to mention how confusing it can get trying to make sure I had enough money in my bank account to cover each balance as it came due.  
I crunched a lot of numbers, studied calendars, set up notifications to keep myself on track. And the credit card carousel went around and around and around.  
As I worked my way through these financial gymnastics month after month, I started to realize my balances weren’t going down. Instead, my debts were accumulating week by week. As a result, I needed to do more math and pay even closer attention to the charges I was making.  
But they were necessary expenses. Or so I thought. Aside from groceries the other highest expense category was dining out. And we all know that hasn’t gotten any cheaper over the last year.  
That’s when I decided, in order to keep my financial health in check, I needed to make a change. And I’m glad I did. 
If you’re riding that carousel too and juggling credit cards month over month, accumulating debts and getting stuck paying interest every month, then it’s time for you to make that change too. With some planning and discipline, it’s entirely possible and I’ve been able to eliminate my credit card debt doing this. 
This is one simple change even you can make and you’re likely already holding the key.  
The key I’m talking about isn’t a fancy debt consolidation loan or balance transfer, though sometimes those help, this one is common, convenient and doesn’t cost a thing. It’s your humble debit card.  
As my revolving credit cards kept digging me deeper and deeper into debt, I realized it was time to break out that dusty debit card sitting forgotten at the bottom of my wallet.  
This little card was going to save my accounts from sinking deeper into debt.  
Now that I had the tool, the next thing was to come up with a strategy on how I would use it to pay down the debt.  
This is where the planning and discipline came in.  
The plan was simple. Any and all new charges had to be put on this card. No more credit cards allowed. 
The practice was a little harder to implement.  
All of my charges went on debit card. 
I didn’t add any new charges to my credit cards. Yes, I had to say goodbye to earning points and miles, but for the sake of financial security, it’s the better choice.  
I cut back on things I was purchasing. I’d scope out the deals, avoid impulses, stopped buying extra things online. Essentially stretched my dollar a little bit more.  
I had to keep a close eye on my checking account because once that number went too low, I could no longer spend any more. All I could spend was what I had.  
Then as paychecks came in, I would pay any credit card bill I had as best I could.  
After making sure I had enough money in my checking account to cover necessities, I would put extra towards any of my remiaing credit cards. 
If I could throw an extra $100 towards a bill I did. If I could throw an extra 50 I would. It depended on how much I had at the time but any amount counted. 
This process took a few months to work through, and for some it might take longer than that, but if you plan it right and stick with it, it will work.  
Credit cards give you a lot of convenience, but they often tempt you in more ways than you realize.  
The juggling act can work for a time, but it can send you dangerously towards racking up more debt than you can pay off.  
Using your debit card keeps your spending in check because it stops you from spending money you don’t already have. You’re forced to make more thoughtful purchases and pay closer attention to the items you buy.  
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

Simple Ways to Save Money - Money Tip Tuesday

If you’ve been crunching those numbers lately trying to figure out how you’ve been spending your money you might have come to the realization you need to cut some expenses. 
With a quick review and a few simple hacks you can cut back on unnecessary spending and free up some cash. 
Links:
Resources and statistics mentioned in this tip:
Interesting coffee facts
Stats on the cost of dining out
Forbes survey results on the cost of streaming services
RunRepeat survey results for the cost of gym memberships
Find how much handyman and home jobs on AllBetter app might cost you
Learn how much you could save shopping secondhand or used items 
Follow our Facebook, Instagram and Twitter pages!
Learn more about Triangle Credit Union
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.  
Saving even a little bit of money these days can make a world of a difference for your finances.  
Here are a few places you can look to start if you’re ready to cut back on your spending.
  
Number 1: Consider cutting out that regular cup of coffee.  
If you’re used to buying your daily cup of joe, you may be spending more than you realize.  
As of 2023, the average cup of coffee in the US costs $3.28. If you’re a regular drinker, that means you spend roughly $10 – $16 a week depending on how often you purchase your coffee. And that doesn’t even include tip.  
If you’re buying your morning brew 3 times a week that means you’ll be spending roughly $520 a year on coffee. If you buy one every day of the week, then you’re spending around $832 a year on your coffee.  
If you don’t like the thought of spending half a grand to almost a grand on coffee a year, then there’s an easy fix for you. Simply cut back buy buying less frequently or make your own coffee at home.  
 A cup of homemade coffee can cost between 18 - 27 cents. That’s a big difference from buying one from your favorite coffee shop.  
 
Number 2: Dial back on dining out. This one is pretty obvious. Many of us spend more than we realize on dining out. 
According to the Bureau of Labor Statistics, the average American dines out 5.9 times per week and the average household spends roughly $3,500 a year on it. That’s around $291 a month.  
Are you comfortable affording that? 
If that seems like too much for you to afford, then it’s time to take a closer look at how much you’re spending on food you don’t cook at home. 
If you’re not ready to cut it out entirely, because it provides some relief from a hard day’s work, try cutting back on the number of times you go out, choosing cheaper establishments, or cutting out expensive options when you do go out like alcoholic drinks, apps or desserts.  
 
Number 3: Cut back on streaming services, or other subscriptions. 
If you’re like me, you’re probably paying for more than one streaming service every month. According to a 2023 Forbes survey, the average person is subscribed to 2.8 streaming services with some subscribing to five services at a given time.  
The survey also showed that the average person spends $39 a month on streaming services which can add up to $486 a year and it also showed that 47% of people are paying for streaming services that go unused. 
If you find you’re paying too much simply cancel some and stick with the one you like the most or cancel all and opt for free TV instead. You’ll likely have to endure commercials, but that can be a small price to pay for the money you’ll save over time.   
 
Number 4: Lose your unused gym or fitness memberships.  
Gym memberships can be costly. 
According to a 2021 survey done by RunRepeat, the average cost of a gym membership is around $37.71 a month. That comes to about $452 a year.  
The saddest part of this is that most people don’t end up using the membership as often as they planned, with many not using it at all. Even if you’re only paying $10 a month fee, it’s still a waste.  
Pay attention to how much you’re dishing out for your fitness and if you find you’re one of those people paying for something you’re not using, cancel your membership and opt for other, cheaper ways of training instead.  
Walking or running outside, getting involved in recreational activities, even free YouTube videos are great ways of keeping up with your fitness goals without paying for an unused membership.  
 
Number 5: Learn how to DIY things. In many cases, it’s cheaper to do a job yourself than to pay someone else to do it for you. 
Things like learning how to change your own oil, repair drywall, change out light fixtures or unclog a sink can save you a lot of money when you take a little time and effort to do it yourself. 
Allbetter app, an app for handyman and other services, lists some of those basic jobs starting at $100. If you’re up for the task and want to save a little bit of money, look up how to do the job or repair on YouTube or other websites to take it on yourself. You could even ask a friend or family member to guide you if they have experience in home repair.  
If you’re currently paying for cleaning services you can cut back by budgeting some of your time to handle those chores yourself. 
Taking over some of those basic home projects on your own instead of paying someone else to do it for you can save you hundreds of dollars a year.  
 
Number 6: Shop for secondhand items.  
For certain things secondhand and gently used items can be just as good as new but with a lower price tag. 
Some of the best items to buy used are gym equipment, hand tools, and furniture.  
For items like these buying used can save you around 25% off the retail price. Try searching places like Facebook Marketplace or Craigslist if you’re hunting for a bargain on used items. 
Another favorite for many people is to buy used clothing at retail thrift shops or online apps like Poshmark and others.  
If you’re a savvy recommerce shopper you can save around $150 a month which adds up over time to around $1,760 a year on average.  
Be careful when buying from secondhand sellers to make sure you’re not getting scammed and if you’re looking at something electric or mechanical, remember to test it before buying. 
 
To wrap up, finding ways to cut costs may not be too difficult when you know where to look. Stay aware of your expenses, budget and adjust your lifestyle accordingly because cutting back on the small stuff can save you more than you realize in the long run. 
To quote Ben Franklin: "Small expenses add up over time and can slowly sink our money into the abyss. The worst part, we typically won’t know until it’s too late." 
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org.  Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.  
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 
 

Episode 59: Using Real Estate to Generate Passive Income | Mariana Silva

Real Estate Investing was once out of reach for many of us, but not so much anymore. In this episode we talk with Mariana Silva, local Realtor, real estate investor and owner of Invest Realty Group, on the strategies she's used to build her impressive real estate portfolio and how you can too. 
Links: 
Visit Invest Realty Group's website
Follow Invest Realty Group's Facebook, Instagram, Twitter and YouTube Pages
Contact Mariana Silva 
Learn more about Triangle mortgages
Follow Making Money Personal on Facebook, Instagram and Twitter pages!
Learn more about Triangle Credit Union
View episode transcript.