Making Money Personal

Quiz: How Secure is Your Online Holiday Shopping? - Money Tip Tuesday

It’s time to start shopping for the holidays again, are you ready? With online shopping, buying gifts for the holidays has never been easier. However, there is also some risk involved with scammers waiting to take advantage of your holiday spirit. We have a quiz for you to see if you know what to do to protect yourself and your finances while shopping online. 
Links: 
Listen to our fraud prevention podcast episode on Fraud Protection Tactics to Keep Your Family Safe with Jose Rivera Hernandez
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. 
Question 1: When shopping online is it better to use your debit card or your credit card? 
It is better to use your credit card. If your debit card is compromised, scammers can take funds directly from your bank account, whereas with a credit card, it just goes on your credit. There are also laws that limit your liability with credit card fraud, so you’re not financially responsible for unauthorized credit card use.  
Question 2: You just received an email from someone claiming to be “Amazon” offering 75% off your next purchase if you click the link. You hover over the link and it does not go to Amazon. Should you: 
Click the link 
Report phishing 
Forward it to your mom and see what she thinks 
Reply to the email asking if this is real 
The answer is B, report phishing. If you are not sure if an email is legitimate or not, it’s better to be safe than sorry. Do not click the link or interact with the sender, and definitely do not forward it to your mom or anyone else. This email is likely from a scammer trying to get your personal information.  
Question 3: You have just finished shopping and are about to check out when you notice that next to the URL there is a triangle with an exclamation mark and it says “Not Secure”. Should you: 
Continue checking out and insert your payment method 
Stop shopping and leave the page 
Refresh the page 
Add more items to your cart 
You should stop shopping and leave the page. Never put in your financial information or any personal information if it says “Not Secure”. Make sure that the website URL you are shopping from starts with HTTPS and there is a padlock icon next to it. This means that any information that you put in is encrypted. 
Question 4: Which of the following should you do before shopping online: 
Update your browser and computer operating system 
Connect to a public WiFi network 
Make sure all of your passwords for online marketplaces are the same so you can login easier 
All of the above 
The answer is A: update your browser and computer operating system. Updating these ensures that your security is up to date and will give you more protection. You should not connect to a public WiFi network, as these are often unsecure which makes getting to your financial information easier. Do not use the same password for everything, because if one password is compromised, they all are. Use unique and complex passwords for each site. 
Question 5: The hottest gift of the year is sold out, but you need to get it. You finally found a seller on eBay but they have marked it up 100%. They don’t have any pictures of the gift except for one that came from the official website. You click on the seller’s profile and they are new. Should you buy from them? 
The answer is of course no. The seller is either a scammer or a scalper. In this case, you can’t tell if the seller even has the item since the picture is from the official website and not from the seller. They might not even have the item. Or they are trying to take advantage of your holiday spirit and upcharge you by a lot. It is probably in your best interest to just wait until this item is back in stock.  
That’s it for this quiz, how did you do? Let us know on our social media pages! 
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.  
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 Pros and Cons of Purchasing a Vacation Home - Money Tip Tuesday

A quick Google search for a pros and cons list about whether you should buy a vacation home, will give you lots to think about. In this tip we talk about what you should consider before you buy that second home. 
Links:
Learn more about the existing research on home buying National Association of Realtors
Chat with our Mortgage Originators with any questions on buying a second home
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.
Even the name, “vacation home” evokes happiness. Who wouldn’t want a vacation home, simply to associate time there with a “vacation”?
As more and more Gen X thru Z build their wealth and disposable income, vacation home sales are on the rise; according to the National Association of Realtors, second home purchases are up 51% from January – April 2021.
Let’s look at some common pros and cons of owning a 2nd home for the purpose of rest and relaxation:
Real estate is always a good investment. Depending upon when you buy, and how much you pay, real estate is usually a great investment because of the increase in demand and limited land on this planet. I have always heard you make money when you BUY real estate, not when you SELL so work with a real estate agent to make sure you’re not overpaying for that 2nd home. Your agent will run sale comparisons (or comps) of the area to support your offer.
You’ll always have a place to go. When you own the property, you can pretty much depend on its availability. The downside is this is a big world with lots to see; do you want to keep going to the same place? Or if you’re like me, you have to justify the cost per use ratio so you have to go every weekend to get your money’s worth regardless of all the other activities that you’re committed to—it can be exhausting!
You can rent it out and make money. The rise in Airbnb and VRBO have opened the world to rental properties. Once you are on their platforms, which I understand are fairly easy to use, you can make very good money renting out your space. If you want to use your home certain times of the year, you simply block availability.
The downside is: you're sharing your vacation home with strangers; you’re not staying with them, but they’re touching your stuff and using your toilets. There’s a lot to manage. You must set up cleaners and schedules and deal with people because they absolutely need another night and thought they booked it correctly only to find they didn’t, but you must take care of it.
I have some friends who recently looked into a vacation home. The good news is their current mortgage is paid in full and they had a sizable down payment for their vacation home. They did the right thing: they put the cost of ownership into their budget to see if their income would cover the costs. If you can’t pay in cash, you’ll need a mortgage, property insurance, maintenance funds, possibly Homeowner Association (HOA) fees which are highly likely for resort properties, and cleaning fees, if you’re renting it out and, wait for it…property taxes.
When I looked at the listing of the property my friends were considering, I knew they could handle the cots, but the monthly $1200 property tax bill shocked me. If you do need to take out a mortgage for a vacation home, please consult with a good Mortgage Originator, like those at Triangle Credit Union. You may find you need a higher down payment, but they will be able to work with you on your financial plan.
Speaking of financial plan, when you’re about to make a big decision like this, it’s always good to consult your financial planner—this is the person who knows your financial story and can objectively assess your situation. If you have any comments or ideas for additional tips, please email us at tcupodcast@TriangleCU.org. Be sure to follow the Making Money Personal podcast page on Facebook for more great content.
Thank you to our sponsor, Triangle Credit Union, and to you for tuning in!
Have a great day everyone!

Five Fun Things to Do in the Fall - Money Tip Tuesday

Fall is here. The air is crisp with a slight chill and you’ve probably noticed your neighbor’s yards are now decorated with pumpkins, scarecrows and other harvest themed decorations. If you’re a fan of the fall season, make sure you take some time to get out and try at least one of these five fun things to do in the fall.  
Links:
Local Farms to check out: McQuesten Farm, Elwood Orchards, Sunnycrest Farm Lull Farm, Charmingfare Farm
For spooky fun, visit Nightmare New England or Canobie Lake's ScreeemFest
Plan a trip to the White Mountains
Go for a nature walk through Mine Falls Park,  Andres Institute of Art, or NH Rail Trails
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.  
The fall season has finally arrived. If you’ve been in New England long enough, you’ll know that even though winter is right around the corner, there’s still plenty of activities you can enjoy before the cold comes to stay.   
If you like getting out and enjoying all the things a NE fall offers, then keep listening to hear about five fun things you can do during the fall season.  
The first is to go apple picking. No fall is complete without a trip to a nearby orchard to pick some fresh apples. This is a great activity that many families enjoy together with some even making it an annual tradition. You get to find and select a bunch of fresh apples to enjoy right away or to bake pies, make jams, or cook some delicious apple sauce to share with family and friends during the season. My favorite is homemade apple butter. It’s thicker than sauce and quite delicious when served on warm toast.  
Make time to visit a local farm for a variety of activities. Local farms are sure to have an abundance of activities for both kids and adults. Pick up some fresh pumpkins for carving. If the farm has one, try a corn maze. Some also offer tasty treats like apple cider donuts or slices of pie and other baked goods. If you have kids, visit a farm with a petting zoo so your kids can pet and feed the animals. If you’re on the lookout for a local farm to visit, try exploring McQuesten Farm in Litchfield, Elwood Orchards or Sunnycrest Farm in Londonderry, Lull Farm in Hollis and Charmingfare Farm in Candia. There are more than mentioned here, it is NH after all, so do an internet search to see what other farms you can visit in your area. Check other states too like VT, MA and ME to see what their farms have to offer.  
If you’re into scary stuff, try visiting a spooky world or other haunted experience. You can visit one of the many frightful events going on in the area like Nightmare New England at Mel’s Funway Park in Litchfield or Canobie Lake’s Screeemfest in Salem. For a more affordable option, some local area schools and community centers host their own spooky experiences like hayrides and haunted houses you may be interested in visiting. So, this season, if it’s your thing, take the time to get dressed up, put on your scary makeup and have a night of frightening fun.  
Another thing on this list is to go on a hike to enjoy the colorful foliage. Fall is the perfect time to get out and enjoy the great outdoors especially because of the beautiful, colorful foliage a New England fall offers. You can take a day trip up to the mountains for a hike. The White Mountains offer some great hikes for different levels ranging from beginner to experienced. Make it a day trip! Pack a lunch, bring a friend and take lots of pictures. If you’re not into climbing mountains, and you’re looking for something a little less involved, you can enjoy some of the shorter nature hikes in your area and still soak in the beauty that fall has to offer. Check out Mine Falls Park in Nashua, The Andres Institute of Art in Brookline, or any local rail trails in your area.  
And lastly, explore some of the local fairs or festivals. Fall is fair time. If visiting fairs is your thing, try to visit at least one this year. There are so many things you can do at a fair like eating all kinds of different food, checking out local vendors, petting animals and watching live performances. Fairs offer so many fun activities for the whole family and you’re sure to make many lasting memories.  
That’s the list of five fun things to do in the fall. If you enjoy other fall activities that weren’t mentioned, feel free to share them on social media. We would love to hear what others like to do during the fall season.  
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, IG and Twitter pages 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 is Synthetic Identity Fraud? - Money Tip Tuesday

Do you know that identity thieves don’t need to steal your entire identity to use your information? 
Sometimes a single piece of information is all they need to build a whole new identity in a practice known as synthetic identity fraud. 
Links: 
Learn more about Triangle's Better Checking account with IDProtect*
Have a Better Checking account? Register now at idprotectme247.com. Contact Triangle CU with any questions on getting set up.
Learn more about the Big Three credit bureaus: Experian, Equifax, TransUnion
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.  
Experian.com mentions that synthetic identity fraud is one of the fastest growing types of financial crimes out there. 
This type of identity fraud is when someone steals an identifying piece of information, typically, a social security number, and they use it with other information they’ve made up to create an entirely new identity.  
There are many ways a thief can get social security numbers, with one of the most popular places being the dark web. Once they get it, they create a new identity and use it to establish credit, apply for government programs, open bank accounts and for other criminal ways. Oftentimes they use the single number to create many different identities.  
If you want to keep your identity safeguarded, you need to protect as much of your information as possible. Here are a few things you can do to keep your information out of thieves’ hands.  
The first is to monitor your credit by checking it regularly. Pay attention to statements, reports and notifications related to your identity.  
Another thing to do is request a credit freeze or lock. You can contact each credit bureau to freeze or lock your credit so no one can gain access to your report. It blocks authorized access as well as unauthorized access so make sure you unfreeze or unlock it first before you choose to apply for anything that requires a credit check.  
You can also freeze your kids’ credit. Kids are often victims of identity fraud. Thieves can steal their social security numbers and personal information. You can freeze your kids’ reports by making a request to each of the credit bureaus. They’ll create a report and then freeze it to keep anyone from stealing their SSNs and other information. 
Make sure you are careful where you share information. Social media can be a gold mine for fraudsters who are looking for identifying information. Be careful when sharing personal information like birthdays or addresses on social sites.  Also, if you’re providing information to a new company or business and it asks you for your or your child’s SSN, you can push back and ask them if it’s necessary, and if you could use another form of identification instead. 
Keep an eye on your mail and other documentation. If you get notices or pre-approved credit offers in your child's name, that could be a sign of identity theft. Also, make sure you shred any mail, paper statements and pre-approved credit offers you don’t need. Dumpster diving is still a thing and people can still get personal information from digging through trash.  
Get id protection in case something happens. Monitoring and notifications are the first line of defense when it comes to safeguarding your identity. But sometimes things can still happen. Get set up with an identity theft protection service so if you ever become the victim of identity fraud, you’ll have an advocate who can help you manage it and recover.  
If you don’t have identity protection, Triangle Credit Union offers a Better Checking account with ID Protect. This service provides credit monitoring, fraud resolution, and monthly credit reports to help you keep an eye on your identity. If you’re looking for a first step, that’s a good place to start.  
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, IG and Twitter pages 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! 
*ELIGIBILITY: IDProtect service is a personal identity theft protection service available to personal checking account owners, their natural person joint account owners and their eligible family members (as defined below). The service is available to non-publicly traded businesses and their business owner(s) listed on the account and their eligible family members (service not available to employees or authorized signers who are not owners). For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s) and their eligible family members. For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member, and the beneficiary’s eligible family members (Fiduciary is not covered). Service is not available to a ""signer"" on the account who is not an account owner. Service is not available to clubs, organizations and/or churches and their members, schools and their employees/students. Eligible Family Members include: Spouse, persons qualifying as domestic partner, and children under 25 years of age and parent(s) who are residents of the same household. Insurance product is not a deposit; not NCUA insured; not an obligation of credit union; and not guaranteed by credit union or any affiliated entity. Registration/activation required.
Triangle Credit Union membership is available to anyone working or residing in the Hillsborough, Merrimack, Belknap, Rockingham, and Cheshire Counties of New Hampshire, as well as the Franklin, Worcester, Middlesex, and Essex Counties of Massachusetts.
 

Episode 49: Marketing Best Practices for Your Small Business with Terri and Liz

If you're a small business owner and interested in how to boost your marketing, in this episode Terri, Marketing Manager at Triangle Credit Union and Liz, Marketing Media Producer, discuss setting brand goals for marketing your small business. We cover best practices, trends and strategies you can adopt to create your next marketing game plan. 
Links: 
Have any questions about this episode? Email us at tcupodcast@trianglecu.org
Follow our Facebook, Instagram and Twitter pages!
Learn more about Triangle Credit Union
View episode transcript.
 

The Pros and Cons of Working from Home - Money Tip Tuesday

Working from home is starting to become the new normal now, with many people opting to continue working from home instead of returning to the office. Is working from home right for you? Here are some pros and cons that you should consider. 
Links:
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. 
To begin with, the commute is completely eliminated when working from home. No more fighting the traffic to get to work on time. You will also save money on gas by not driving back and forth between your home and the office. When you work at home, all you have to do is boot up your computer and you are already there. This also means that you can live wherever you want. By not having to commute into the office, you could live thousands of miles away and still make it to work on time.  
Working from home also allows you to be more flexible. If you need to keep an eye on your kids, walk the dog, or go to a doctor’s appointment, you can do that much easier now. 
Several studies have actually found that people who are working from home are more productive than when they were in the office. The statistics show that productivity increases by up to 77% when working at home. This may be in part to fewer interruptions in the workday.   
If you’re more of an introverted person, working from home gives you more time to recharge before you go out again. Now, you will only see your coworkers in online meetings. However, if you’re more of an extroverted person, this is more of a con than a pro.  
One downside of working from home is the expense of a home office. First, you will need to have a physical space where you can work without having any distractions. You might have to buy a few office supplies such as a desk, a comfortable chair, and whatever else you will want. There will also be the additional cost of utilities since you will now be spending more time at your home instead of the office.  
Another downside is that you won’t get a change in scenery very often. Working and living in the same place might be convenient, but you’ll quickly get tired of being in the same environment every day. You will need to make an effort to get out of the house every once in a while, to get a change in scenery.  
Communication can also be a bit tricky when working from home. Since most of your interactions will now be digital, you need to be conscious of your “electronic tone” when sending messages. Conveying your tone over messages or email can be difficult since people can’t read your facial expression, body language, and other cues to understand your tone. Make sure that your messages are clear, concise, and positive.  
You also need to consider how self-motivated you are as a worker. Without a boss physically there, you may find it easy to procrastinate while the deadlines sneak up on you. Being self-motivated means that you actually work on the projects instead of letting them all pile up.  
These are the pros and cons of working from home. It’s a lot to consider, but in the end it comes down to if you think working from home or in the office is right for you. 
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 and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn 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! 

Can You Answer These 5 Financial Questions? - Money Tip Tuesday

How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.  
Links:
Learn more about APR
Listen to our Calculating Your Net Worth Money Tip Tuesday episode
Freddie Mac information about credit scores
Podcast episodes on credit:
What the Heck is Credit and Why is it Important? 
Strategies to Build Your Credit
Listen to our Starting Your Emergency Fund Money Tip Tuesday episode 
Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
How much do you know about some basic finance terms and concepts? Test your knowledge with this Money Tip Tuesday financial quiz.  
Think you’re up for the challenge? Give it a shot and see how well you do!  
Good luck and let’s begin! 
 
Question 1: What does APR stand for?  
APR stands for Annual Percentage Rate.  
Investopedia defines APR as “the yearly interest generated by a sum that's charged to borrowers or paid to investors.” If you borrow money from a lender, you’ll be charged interest on your payments. The APR tells you the percentage rate that you can expect to pay over a one-year period. In many types of loans, the rate and the APR are the same, but other times they can differ due to additional fees or charges associated with the loan. 
Next time you’re rate shopping, take note of not only the interest rate you’ll pay, but that APR as well.  
 
Question 2: Net worth is calculated by subtracting your debts from your what?  
Net worth is calculated by subtracting all your debts (or liabilities) from your assets.  
Assets are things you own that have value. Things like investments, cash and savings accounts, collectibles and jewelry are considered assets. On the flip side, your debts are everything that you owe money on. Things like your mortgage, auto loan, and credit card balances are all considered debts. When you calculate your net worth, you subtract the total number of your debts from the total number of your assets.  
If you’re interested in learning more about how to calculate your net worth, we have a Money Tip Tuesday episode that walks you through the steps on how to do it.  
 
Question 3: If you want a healthy credit score, you should keep your debt to credit ratio below what percentage?  A) 80%  B) 30%  C) 50% 
Answer: B) 30% 
Your debt to credit ratio is used to describe how close you come to reaching your credit limit. A 100% debt to credit ratio means you’ve borrowed 100% of your credit line and essentially maxed out your card. This does not look good for your credit.  
If you want to maintain a healthy credit score, you should aim to keep your debt to credit ratio at 30% or below. For example, if you have a $10,000 credit limit, you should be keeping your charges at or below the $3,000 amount.  
 
Question 4: What are the 5 main factors that add up to make your credit score?  
According to Freddi Mac, the main factors are: Payment History, Amounts you Owe, Length of Credit History, Credit Inquiries, and Types of Credit You Use. 
These are all factors used to determine your credit score. Each carries a different weight so some are more important than others.  
If you’re trying to find ways to boost your credit score you can look at these factors. Pay attention to each one and how they can affect your personal credit history.  
For more information about credit, you can listen to our prior episodes, What the Heck is Credit, and Strategies to Build Credit. 
 
Question 5: How many months' worth should you have saved in an account for a healthy emergency fund? A) 1-2  B) 10-12  C) 3-6 
Answer: C) 3-6 months 
Your emergency fund is an account of money that you have set aside for emergency purchases. You should aim to have 3-6 months’ worth of expenses set aside in this account in case something happens. For example, if your living expenses are around $5,000 a month, a healthy emergency fund would have $15,000 – $30,000 saved in it. 
Having an emergency fund is an important financial goal to meet because it provides a lot of flexibility and assurance if life brings about unexpected challenges.  
If you don’t have an emergency fund yet, it’s a good idea to start one. If you can’t save the full 3-6 months right away, don’t worry. Just start saving something and make that 3-6 months your next financial goal to meet.  
This wraps up our quick financial quiz.  
How did you do? Let us know on social media!  
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, IG and Twitter pages 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! 

Fraud Prevention for Phone Scams - Money Tip Tuesday

Dangerous fraud scams are all around us. In fact, they are getting more sophisticated and convincing by the day. If you get suspicious phone calls from your bank, stay calm and don’t panic, because you just might be getting scammed. 
Links:
If you believe you've been scammed, you can report it right away to the authorities. Visit usa.gov for more information.
Did you know? Triangle's Better Checking account offers ID Protection that monitors your identity for fraud. 
Follow our podcast Facebook, Instagram and Twitter
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
Scammers are using more sophisticated technological tricks to get you to hand over your sensitive information. 
Some latest scams appear to be convincingly from trusted financial institutions.  
Here’s a story about someone who recently faced a scammer claiming to be from their bank. Let’s call this person Jack.  
One day Jack received a phone call.  
The caller claimed to be from Jack’s bank and the caller ID even showed the bank phone number.   
The caller said they were from the fraud department and was calling about Jack’s debit card ending in... and rattled off the correct last four digits of Jack’s debit card.  
The caller then asked if Jack had been traveling recently and then stated that there were reports of suspicious card activity in some out of state stores.  
Jack is a little alarmed and stays on the line to find out more. 
He confirmed he didn’t make any purchases at those stores and the caller then said they could get him a new card if Jack could confirm his address and phone number.  
Then the caller reads off Jack’s correct home address and phone number, and even sends a verification code to Jack’s cell phone.  
Then the caller asks for Jack’s PIN to deactivate the debit card.  
This set off a red flag and Jack refuses to give out his PIN. 
The caller pushes back by pointing out that the caller ID number matches the service phone number on the back of Jack’s card.  
But, because things seemed too suspicious and Jack didn’t trust the caller, he said he would hang up and call the bank back himself.  
At this point, the caller abruptly hung up the phone, further confirming Jack’s suspicion that the call was a scam.  
Calls like these can happen to anyone. To keep your information secure you must remain on guard and aware of the threats. Question everything and brush up on your bank’s communication policies. Many will provide a list of things they will never ask you for over the phone, or in any email or text message. 
Here are a few key identifiers for fraudulent messages to keep in mind in case you ever come across a scam like this.  
Usually if the message has an urgency to it, it’s fake. Messages that alarm you and then immediately ask you to act prey on your emotions and get you to impulsively hand over all kinds of sensitive information without stopping to think about it.  
If the message asks for you to provide sensitive information like login information, PINs, social security numbers and bank accounts it’s most likely a scam. 
If the message is offering you a special prize or tells you you’ve won a lottery or sweepstakes and then it requires you to pay a fee to get it, it’s a scam.  
Stay on guard with every message, be it a phone call, text or email. Scammers can be very convincing so make sure you stay aware of their tactics so you can keep your personal information safe.   
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 be sure to check out our other tips and episodes on the Making Money Personal podcast.  
Have a great day! 

The True Cost of Purchasing a Car - Money Tip Tuesday

You just passed your driving test and you’re ready to hit the open road with new wheels. Before you start looking for your first car, you need to consider all the costs of auto ownership. 
Links:
Visit Car Max, Car Gurus, AutoTrader to search for cars
Try using Triangle's AutoSmart tool to find your next car
Check out Triangle's current vehicle rates
Follow our podcast Facebook, Instagram and Twitter
Transcript: 
Welcome to Money Tip Tuesday from the Making Money Personal podcast.
New drivers are excited about the newfound freedom that comes with a drivers’ license, but to really experience true liberation you have to have your own vehicle. We just went through an auto purchase with my 18-year-old daughter who needed a car for college. Here’s what we found out: the sticker price is only the beginning.
Once you know your budget, you can do online searches through third-party apps like CarMax, CarGuru, AutoTrader—the list goes on and on. I would tell you it’s a quick search, but it’s not. We spent weeks searching for the right vehicle online. I knew the make and model of the car we were looking for and, with some online searching, I soon realized my budget was unrealistic unless I wanted an older vehicle or one with a lot of miles. 
When I mentioned that the search results were producing vehicles from three states away, my older daughter suggested I look at some used car lots in a town nearby—this area is notorious for small used car dealerships. I knew I didn’t want to drive 5 hours to look at a car I might not buy, so I searched used car dealerships in that town. This search produced a list of eight used car dealerships. At this point, I just went to each dealerships’ website to see what they had for inventory.
We found the perfect car and made an appointment to look at it. The following day we arrived after school and were notified the car had already been sold. While we disappointed, we were optimistic we could find a good car with this dealer. My daughter and I were invited to walk the lot to see if there was another vehicle that would be a good fit for her. We found it and took it for a test drive!
Now here’s where it gets interesting. The sticker price for the car was $8,500. The dealership fee (which is a fee the dealership must pay to our state is $250) so now the price is $8,750. I have purchased three cars within the past two years and every dealership, no matter the size, must comply with this fee, which means it’s passed on to you, the consumer. If you buy from a private seller, you shouldn’t have this additional cost.
Before we left the lot, we added insurance on the car. I made a quick call to my insurance company, which is national insurance provider, and added the car to my policy. There was an immediate payment due of $224, which is part of the prorated premium for the current insurance period.
The next step is to register your car. This is a trip to the DMV, which I would pay $1000 for someone to do for me; actually, that’s an exaggeration, I would pay someone at least $100. In any case, you don’t have to pay anyone to go to your local DMV, but you do need to register your car. The cost of registration varies and is based upon the age and weight of your vehicle. I’m not aware of the actual formula, but for my daughters 2016 Nissan Versa sedan the registration cost for state and city was $180. For newer, heavier vehicles, like a 2022 pickup, the registration costs will be much higher. 
You will also need to have your car inspected, which is about $50 depending on where you live and where you have your inspections done. If you’re buying a car from a dealer, the dealership will do the inspection, so the vehicle has an updated inspection sticker. 
OK, so let’s add up our numbers: price of car ($8,500), plus dealership fee ($250), plus insurance ($224), plus registration ($180), plus inspection ($50) is $9,204. Since my daughter’s car had the inspection sticker, the true cost of purchasing her car was $9,154 -- $654 above the sticker price. This may or may not be important, depending upon your income or budget, but these costs are something to remember and consider before you purchase that first car.That’s today’s Money Tip. If you have any other tips that could be helpful to other listeners, let us know at tcupodcast@trianglecu.org. Be sure to check out our other tips and episodes on the Making Money Personal podcast and follow us on Facebook and Instagram. 
Thank you to our sponsor, Triangle Credit Union, and thanks for listening.
Have a great day everyone!

Tips to Saving Money while in College - Money Tip Tuesday

Paying for college is expensive, from tuition to housing to room and board. On top of all that, there are other things you are going to need to buy plus you will want to have some money to have fun. Here are some tips to save money while in college.
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Welcome to Money Tip Tuesday from the Making Money Personal podcast. 
Food is one thing that you should be thinking about when it comes to saving money. While at college, you’re definitely going to want to skip the cafeteria and either go out to eat or make your own food at some point. If you plan on making your own food, you’re going to have to go grocery shopping. Before going grocery shopping, make a list of everything you need, and stick with the list. If you go into the grocery store without a plan, you’ll probably leave with more food than you really need. Try to stick to your list and don’t overspend.  
When buying food, look to see if the grocery store has any deals going on. There’s usually tons of options for the same item, so find the best price for what you want. Usually store brand foods are cheaper than name brand. 
Always check the expiration date. If you don’t think you can finish it before then, find one with a later date. Throwing out expired food is like throwing out money.  
Another way to save money at college is to go thrift shopping. Thrifting is a great way to find name brand clothing for a cheap price. You can also find movies, games, dishes, furniture, and even textbooks at a thrift store, all for a lower price than if you bought them new.  
You can also save money on gas by carpooling with friends. This will definitely save you a lot of money if you don’t have a car, because now you don’t have to buy one and its cheaper than hiring an Uber every time you need to go out. Instead plan a day with your friends when you can all go shopping together. It’s gas efficient and fun! 
Utilize your student discount. A lot of places offer a student discount, and it can save you a lot of money in the long run. Big name brands like Apple will offer a discounted price on computers. Spotify premium offers a student discount that includes Hulu and Showtime. Anything from seeing a movie to buying clothing, you may be able to get a discount on if you ask and show your student ID. 
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 and Instagram pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn 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!