Making Money Personal

Library Cards: Your Free Pass to Entertainment and Education - Money Tip Tuesday

A library card opens the door to a vast world of free resources, from books and e-books to movies and educational courses, eliminating the need to spend on entertainment and learning materials. In this tip, we share the many benefits library cards may offer, some of which might surprise you.   
Links:
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.   
If you're searching for ways to save money on things you use every day, look to your local library. Having a library card offers more benefits than just access to books. A library card is a simple way to access digital learning platforms, streaming services, and other surprising benefits.  
Note that the breadth of services offered varies by library, but don't hesitate to look because you'll likely find something worth signing up for.   
Here are some free platforms and tools your library card might provide access to.   
1. eBooks and audiobooks. Most library cards provide access to a database of eBooks and audiobooks for the many people who prefer to read with an e-reader or listen to their books.   
2. Museum passes and attractions. Libraries often provide discounts on tickets or even free passes to local museums and attractions.   
3. Online learning platforms. Many library cards offer access to online education platforms, where users can explore all kinds of training courses, craft tutorials, and even language learning.  
4. Genealogy research. Explore your heritage without the hefty price tag. With a library card, you may have access to popular ancestry platforms to explore genealogy records and family history databases.  
5. Home improvement and DIY tools. Some library cards allow users to borrow tools and equipment for home improvement and other DIY projects. 
6. Cameras and electronics. Your library card may provide access to cameras, tablets, and other electronic items for digital projects.   
7. Streaming services. Many libraries offer access to streaming services and other online entertainment platforms to watch movies and TV shows and even view recorded stage performances and concerts.   
A library card is an excellent resource for accessing unique and valuable resources at low or no cost. It's a ticket that enables you to connect with your community by providing access to opportunities and many resources for enrichment, relaxation, and personal growth.   
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 FB page 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. Check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day!  

Embrace the Season: Strategies for Financial Renewal - Money Tip Tuesday

We're at the beginning of a new season, the perfect time to establish a new habit or plan for the coming months. If you need a few ideas for some money-saving tips this season, we have some for you to try out.  
Links:
Try one of these savings challenges for a fun way to track and save money
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.  
Spring is a time of refresh and renewal, with many using this season as a springboard for new goals and intentions for the coming year.   
There are many areas in our lives where renewal is needed and welcomed. If you're ready to say goodbye to winter's long, stale season, it's time to welcome the refreshing and energizing season of spring.  Like many areas of our lives, our money habits can also become stale. Here are a few strategies to refresh your finances.   
#1 Try a financial challenge to test your discipline and meet a goal.  
To save extra bucks over the next few months, try a savings challenge, such as the 100-envelope challenge, the five-dollar challenge, or even a nickel challenge.  
Challenge yourself to a new financial habit. Try a no-spend month, where you don't spend any excess money for 30 days. Maybe take a break from online shopping for a few weeks. If you're brave, try to avoid using your credit cards for a month and pay with only a debit card or cash.   
#2 Try spring cleaning your devices.   
Clean out your email inboxes. If you get an overabundance of emails trying to get you to shop for their latest styles or products, give yourself a break and unsubscribe. If you're like me, you get multiple emails daily from companies offering new deals or discounts designed to get you to purchase. Go through and unsubscribe to stop getting those tempting messages pressuring you to shop.   
Go through your phone and uninstall shopping apps that you find yourself scrolling through to stave off boredom. Also, turn off push notifications to reduce the temptation to spend money.   
#3 Set up a time for a monthly financial check-in  
Set up a time once a month to review your finances and budget.  
Take time to determine how much money you're bringing in.   
Take note and track how much money you spent over the last month on food, activities, and other expenses.  
The closer you pay attention to your income and expenses, the better control you can adjust as needed.   
#4 Take time to shop around for better pricing.  
Take note of everything you're paying regularly, such as your cell phone bill, internet bill, insurance, and streaming subscriptions.  
Take note of how much you're currently paying for each item, and then explore other providers or vendors and compare pricing.   
When you're ready, reach out to your existing provider to try and negotiate a better price for your existing plan. They may offer an adjustment to lower the bill to keep your business.   
If you're ready to refresh your finances this season, there are many ways to get started. Try a few or all of these ideas to start your spring off motivated and ready to rock!  
If there are any other tips or topics you'd like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.   
Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day! 

Strategies to Beat Surge Pricing and Save Money - Money Tip Tuesday

You may have heard that a popular fast-food chain wound up in some hot water a few weeks ago over rumors they were planning to implement surge pricing on their menus.
For obvious reasons, people were upset because they didn’t want to see hikes in even more prices. But were the rumors true, and is this pricing structure something we’ll see more of in the future? 
Links:
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.  
If you happened to pick up on the recent news story, Wendy’s received some backlash over a rumor that they were planning to implement surge pricing. 
Although the restaurant responded by saying the rumors were false and the message misconstrued, the topic brings forth an even greater discussion about what surge pricing is and how it affects us as customers. 
So, what is surge pricing, and what does it mean for your money and spending habits? 
Surge pricing, sometimes referred to as dynamic pricing, is when a business changes the prices of their goods and services depending on the measure of demand during certain periods of time or due to certain factors.  
Even if you’re not familiar with this pricing structure, you’ve likely experienced it in your own life. It’s not new. The growing debate about it now is whether we’ll start to see it more frequently. 
Some examples of surge pricing you’ll recognize are: 
Historically, airlines and hotels. It’s commonly known that companies in these industries raise prices during popular travel times like weekends and holidays.  
You’ve likely seen it at movie theaters. Ticket prices tend to be higher on the weekends to accommodate for the larger crowds than during the slower days of the midweek.  
Most recently ride share companies like Uber and Lyft. If you’ve used either of these apps, you’ll notice at times when you’re looking to book a ride that they’ll charge more for rides during bad weather or other periods of high demand. 
Surge pricing affects customers and even potential customers because it ultimately means you’ll pay more for items or services during certain time windows. If you’re looking to book a trip to New York City for New Years Eve, you’ll likely be paying more for your travel and lodging than if it were just a random weekend in the middle of the year.  
Much of this is out of our control and we don’t have a lot of influence over what businesses charge for their products or services, but there are a few things we can do to minimize the effect surge pricing can have on our spending.  
First, awareness is key. Knowing when prices are higher is the first step to avoid paying the maximum price for a good or service. Pay attention to when the prices are the highest and try to plan around it. If it means rescheduling that vacation to a different time of year or choosing to fly a different day of the week, it may be worth considering to save yourself some cash.  
Set up notifications for price drops or specific discounts that might land you a better deal. This can come in handy particularly on hotel rooms or plane tickets. You can also try using price comparison apps and tools to take a few moments to review pricing from different companies before making a purchase. 
And of course, consider doing business with different service providers or businesses. If you’re no longer happy with the prices for the service, there may be another one out there you can take your business to.  
A debate over surge pricing is starting to grow with some arguing that it will soon be the future of pricing and that we might start seeing it pop up all over the place.  
Many argue that as businesses adopt newer technology and particularly AI tools that they’re more likely to use those tools to introduce payment structures with greater flexibility. Their pricing could be more in tune with changes in their industries allowing them to swiftly adapt in real time.  
Much of this is conjecture and may still be far off in the realm of science fiction but as for now, we’ll just have to keep an eye out for shifting prices on the goods and services we use every day, reworking our budgets throughout the process.  
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.   
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day! 

Episode 67: Strategies to Improve Financial Communication as a Couple

Arguments are common in relationships, especially when it comes to finances. If you're tired of bickering about money with your spouse or partner, then keep listening.
In this episode, we discuss a few reasons why couples often fight over money, and we'll share some specific ways you can work together to reach common financial ground. 
Links:
Check out any upcoming webinars for budgeting and debt reduction strategies or watch on demand on our YouTube playlist
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 

Check Your Financial Health with an Assessment - Money Tip Tuesday

How satisfied are you with your overall financial health? When was the last time you even checked it? If you’re not sure where you stand financially, assessing your existing financial situation is an important place to start.
Stay tuned to learn more about the steps you can take to improve your financial health and wealth. 
Links: 
Triangle's Financial Assessment tool
Check out our Budgeting 101 webinar 
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. 
According to research with online financial experts, the beginning of a new year is the perfect time to assess your financial health and future. Many people recommend doing an assessment right at the beginning of the year because it’s a pivotal time to start fresh. But if you feel a bit behind because you haven’t done it yet, the good news is that there is no bad time to do a financial assessment.  
So, where should someone start with a financial assessment? Here are a few steps to take to get started.  
The first step in a full financial assessment is your monthly spending. Does your income meet or exceed your expenses? How will know if you don’t do a budget! To learn more about budgeting, we encourage you to check out our YouTube channel for our Budgeting 101 webinar. This webinar provides all the information you’ll need to start a budget, including a dynamic Excel spreadsheet that is easy to navigate and fun to use. 
Second, we recommend looking at your income. How much did you earn last year? Is your salary in line with and competitive with similar jobs in your area? If not, a candid conversation with your employer may be in order. As you prepare for this discussion, make sure you do your research and provide collaborating documentation for your presentation. While this type of meeting may be uncomfortable for you and your employer, more employees are sharing their concerns and salary information—not to be negative, but to stay competitive.   
Third, make sure your financial checkup includes a credit check. You can access your credit report for free through annualcreditreport.com. Examine your report closely to ensure there are no discrepancies, especially credit card balances. Identity theft often starts with credit card fraud, so your close examination can guard against fraudulent activity. 
Last, assess your financial progress with savings goals, wealth-building investments, and retirement. Triangle offers a variety of financial planning tools including a new financial wellness assessment tool that provides an immediate snapshot of your shortcomings and recommend steps to improve them. This assessment takes less than 5 minutes, but the outcome is worth it! Check it out at trianglecu.org.  
A solid financial position is essential for a healthy and secure future. An annual assessment can help you make intelligent decisions about your financial health today and prepare you for a wealthy tomorrow. 
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 on Healthcare Costs - Money Tip Tuesday

Being healthy should always be a priority, and taking care of yourself is very important. However, things happen, and you may become sick or injure yourself.
Healthcare, which many need, can often be expensive and even unaffordable to some. Here are some ways to save on healthcare.
Links:
Check out TCU University for more financial education tips and resources! 
Follow us on Facebook, Instagram and Twitter! 
Learn more about Triangle Credit Union 
Transcript:
Welcome to Money Tip Tuesday from the Making Money Personal podcast.   
If you’re looking for ways to save on healthcare, we have tips for you! 
First, choose a healthcare plan that works for you. Low-deductible plans have higher monthly premiums but will cover more of your health costs. This plan suits those with health issues who need regular care. High-deductible plans have lower monthly premiums, but you must pay more out of pocket. This plan is suitable for those who rarely need medical care. If you have a high-deductible healthcare plan, you should enroll in a Health Savings Account, or HSA for short. HSAs are great for saving money for medical expenses, medical bills, and higher deductibles and any money you contribute to an HSA are tax deductible, or if made through payroll deductions, are pretax which lowers your overall taxable income. Ans your funds grow tax free in the HSA. When you need to make a withdrawal, if it is used to pay for a medical or dental expense (as dictated by IRS rules), you will not pay taxes on that money. 
The HSA limit for 2024 is $4,150 for individuals, and families can contribute up to $8,300.  
HSA is a great way to reduce your tax base and it covers expenses in your high deductible health plan. For example, our medical plan has a $2,500 individual deductible annually. Rather than paying a high premium, I personally would rather put the money I pay in premium into an HSA and use a high deductible plan. 
Second, check your past usage of your healthcare plan. If you are using it sparingly, you're most likely over-insured. If you're paying more out of pocket, you're underinsured. If you have medical insurance through your employer, check with your HR or Benefits Administration Department – they should be able to offer some advice in this area. 
Third, if possible, only go to healthcare providers covered by your health coverage. Choosing healthcare providers who are in-network is cheaper than selecting those who aren't in-network. This is because in-network providers have a contract with your health plan and can charge you lower rates.   
Fourth, if you take medications, there are a few ways to save money on your next prescription. If you're taking a name-brand drug, ask your healthcare provider if you can switch to a generic. Generic drugs should have the same ingredients but at a lesser cost. You can also ask your healthcare provider if a less expensive medication can treat you.   
Fifth, if you have a procedure, ask your healthcare provider if you can do it at an outpatient surgical center rather than a hospital. Outpatient clinics are typically 45 to 60 percent less expensive than a hospital. This is because outpatients are smaller businesses with less overhead and are generally cheaper to run. Also, you typically won't be spending the night and will only be there for the day, substantially cutting the cost of being in a hospital.    
Lastly, participate in preventative care. Eating well and exercising will make you healthier and less likely to become ill. If you are sick, the doctor will likely catch it before it becomes too severe.    
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. Be sure to check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day!  
   

How to Know it’s Time to Buy a New Car – Money Tip Tuesday

How do you know it’s the right time to buy a new car? Are there signs to recognize the need for an upgrade or replacement? If you’re on the fence about whether to start looking for a new car, there are a few things to consider first before jumping into the process.  
Links: 
View the Consumer Reports article for more information 
Check your car’s value with Kelley Blue Book  
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. 
To buy or not to buy. That is the question.  
Most of us have a car. We use our cars every day. For many people, it seems they’re getting a new car every other year. But for others, determining the right time to replace an existing car can be challenging. Have you been mulling over it for a while or rather lured into it by that recent commercial for a brand-new luxury model?  
If we want to make the right decision when it comes to buying a new car, it’s important to make sure we’re making it from a reasonable perspective rather than an emotional perspective.  
How do you know it’s time? What are some of the signs you’re ready for a trade in? According to an article by Consumer Reports, there are a few reasons why someone might start their search for a new car. These are: you want to save money, you’re concerned about safety, or you want more features in general.  
We’ll start with the first one, Saving money: 
Cars always cost something to run. You’ll pay for fuel, maintenance, repairs and insurance – the list can keep going. Is your car getting too expensive for you? Are you dishing out hundreds or thousands of dollars for repairs every year? This might be the time to consider trading it in.  
But is paying the price of a new car worth trading in the existing one? The sticker price of a car is in the tens of thousands where repairs could be in the hundreds, maybe thousands. Do the math, compare your car’s value by checking Kelley Blue book .com and compare that with the amount of money you’ve been spending in repairs.  
If the value of the car is less than the amount of money it’ll cost to repair, then it’s most likely time for a trade in. If the car is only in need of low-level repairs or maintenance that doesn’t cost too much or you could even do yourself, then it may be wise to keep it around for a few more years.  
The second one to address is if there are concerns about safety. 
If the car can’t get you reliably from point A to point B then it’s time to start looking for a new one. But even if an older model is still reliable, it’s also important to review the quality of the safety features of that car. 
Newer models have upgraded safety features like blind spot alerts, backup cameras, refined airbag technology, frame design, and braking systems with improved capabilities to keep passengers safe. Older models lacking those designs might not be as trustworthy in accidents or situations. 
Consider the safety of your existing vehicle to determine whether it’s still meeting all the safety needs of your family. If safety is important to you, then upgrading to a newer car may give you better peace of mind because you’ll know your car is equipped to protect everyone traveling in it.  
The third reason you may consider a new car is just for more features in general: 
Older vehicles provided many things that seemed cutting edge back in the day but have now pretty much gone obsolete. Today, there may still be an occasional car with crank windows, a cassette player and even an ash tray. 
But many of today’s drivers have no need for those features and are now interested in other things like new GPS capabilities, voice commands, built-in navigation, and other automatic features. As new models roll out, manufacturers are adding newer and more sophisticated technology to improve the driving experience. 
If you like the idea of heated seats because you’re driving to work at 3:30 am on a snowy morning, a newer vehicle will have just what you need.  Some people are okay driving with older features and foregoing the new tech for a bit to save some money, but if after a while you find you’re in need of some more improved tech, then it may be time to trade in. 
To wrap up, determining why you want a new car in the first place helps provide better insight into whether it’s the right time to start the process or to wait for a little bit. 
If you have made the decision to find a new car, or a new to you car, we’ve got you covered. Check out our competitive rates and get preapproved at trianglecu.org to head confidently to the dealer when you’re ready to buy.  
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! 

Tips to Keeping Connected Devices Secure - Money Tip Tuesday

Identity theft can be expensive. It costs you not only time to fix, but money and resources too. When it comes to keeping your information secure, even the newest technology still has weaknesses, and it’s up to you to stay aware of what those weaknesses are.  
Links:
Learn more about KnowBe4 Security Awareness 
Protect your identity with Triangle's Better Checking account with IDProtect
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.  
This tip comes from an article provided by KnowBe4 Security Awareness and training. 
We’re going to explore the future of connected devices, how these devices may impact cybersecurity, and what you can do to stay safe. 
New innovations in technology are being developed at a rapid rate. But new technology comes with new risks. Let's go over some examples of how technology will change in the future and ways you can stay safe.  
5G Cellular Networks 
You may think a cellular network is only used for cell phones, but it can also be used for GPS devices, wifi hotspots, logistics tracking, and more. 5G stands for the fifth generation of cellular networking. In short, 5G is a dramatically faster and more stable way to connect to the internet. 
While this is great for connectivity, it could be a major struggle for cybersecurity. Current security monitoring methods may not be strong enough for the speed and amount of traffic created on a 5G network.   
The Internet of Things 
The Internet of Things, or IoT, is a network of connected devices designed to work together using an internet connection. A common example of this is the use of “smart” devices in the home. Smart devices connect and communicate with one another using your wifi network. IoT is being used and developed across a number of industries, from healthcare to logistics. 
Each device within an IoT network is a potential risk. As more devices are connected to one another, an organization’s attack surface grows. Meaning, there are more targets for cybercriminals to attack and more points of entry to protect. As these networks grow, it is essential that cybersecurity measures grow with them.   
Safety Tips for Now and Later 
Stay Informed
No matter what the future holds, it is always harder to fool an educated person. Follow trusted news and media outlets for the latest updates in technology and cybersecurity.  
Be Suspicious
As technology changes, cybercriminals will find new ways to attack. If something doesn’t look or feel right, report it. It is better to be safe than sorry!  
Time Travel to the Past
Maybe technology isn’t quite there yet, but you can use classic communication to outsmart cybercriminals. For example, if you receive a suspicious email, reach out to the sender by phone to verify that it’s legitimate.   
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! 

Try This Five Point Debt Payoff Plan - Money Tip Tuesday

Debt is a familiar burden most Americans face daily. Whether the debts are small or large, many are becoming fed up and joining a movement to pay off debt and reach financial freedom.
If you’re one of those looking for a way out of debt, it’s time to put together a debt payoff strategy to set you up for success. 
Links:
Get your budgeting tools on our TCU University resources page
Watch our pre-recorded financial freedom webinar for a more in-depth explanation of this debt payoff plan
Check out our upcoming events for new webinars and workshops
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.  
Getting out of debt can be overwhelming. Staring at a large number, wondering how in the world you’ll be able to pay it off, is enough to make anyone want to give up and say, “Never mind.”  
But debt and the burden it brings does not have to haunt you forever.   
With a simple, five-point plan, you can tackle that debt burden and finally get onto a path that will eliminate it forever.  This plan breaks the debt payoff journey down into manageable, actionable steps to stay on track to meeting your goal.   
Step one: Acknowledging you have a problem  
Debt is no different than any other personal challenge we face. Once we determine the problem affecting us, then we get the resolve to do something about it. Is your debt affecting your mood? Your relationships? Your health? If you answered yes to any of these questions, it’s a burden in your life that has to go. Be honest about where you are now and where you want to be.  
Acknowledge all your debts. Then list them all from credit cards, personal loans, student loans, medical bills, car payments, everything. With it all out front and visible, it’ll be easier to assess how much work you’ll need to put in to pay it off.  With the debt problem illuminated, it’s time to move to the next step.  
Step two: Resolve to do something about it  
This step is where you take ownership. You’ve admitted you have a debt problem, and now it’s time to do something about it.  
This step involves finding all the information needed for a proper strategy. Seek out resources that provide education and insight into solving your problem. If that’s a trustworthy friend or professional, a webinar, online course, book, or even blog, take that first step of resolving to commit to this journey.   
Step three: Create your plan  
This step is all about laying out the strategy you’ll follow, and the very first step in this plan is to create a budget. Know your income and expenses and put them all onto a budget sheet. This process organizes your money into categories so you can see all the money coming in and going out. If you need access to a budget sheet, we’ll link to one in the show notes you can download and use. 
Within the budget process, determine to put any extra income towards debt. That means you'll need to pause additional spending on fun and other frivolous things for some time. Put all your remaining money towards that debt pile to reach that debt-free goal sooner.   
It’s also essential to choose the order in which you’ll pay your debts off. Many people use one of two popular debt payoff structures for this – the debt avalanche or debt snowball.  
The debt avalanche method involves paying off the highest-interest debt first, eventually working down to the lowest-interest debt. The debt snowball consists of tackling the debt with the smallest balance and then working up to paying off the largest balance.   
The principles of both plans are the same. Tackle one debt with any extra money while paying the minimum balance on other debts. Once one debt is paid, use that money that you had been paying to pay off debt to the next one—keep doing this same process until all debts are paid off. 
Step four: Execute your plan  
This step is where the rubber meets the road. It’s time to act upon everything in the plan.  Find a trusted person to hold you accountable throughout this process. If you decide to stop using credit cards, this is where you’ll cut them up. Establish your target date to be debt-free. Do you want to be out of debt in a year? Maybe two? This number will differ for everyone depending on the amount of debt and their net income.   
If you’re looking to work an extra job or hours, this is the time to start. Start working out your debt reduction plan, whether the debt avalanche or the debt snowball method.  
Step five: monitor your results and repeat  
This step is the only way to determine if your plan is working. Keep an eye on it and monitor it regularly to stay on top of it.   
Print out your sheet or save it somewhere you’ll see it daily. Putting it on a poster is a super effective way to keep it top of mind. Tape it to a bathroom mirror, bedroom mirror, or fridge to keep it visible.   
The key is remembering it. You want it to be a daily reminder of the goal you set for yourself.   
Check-in on your progress regularly. Weekly, monthly, however frequently you think is best.   
With these five steps, you can tackle almost any challenge, debt being one of them.   
If you’d like to dive deeper into these steps, check out Triangle’s Paying off Debt webinars, which are available to join live throughout the year or watch them on-demand on our YouTube channel.  
If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page, and look for our sponsor, Triangle Credit Union, on social media to share your thoughts.   
Thanks for listening to today’s Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.   
Have a great day! 
 

Episode 66: Support a Local Nonprofit with Share 'Cuz You Care

Caring for our community has been part of Triangle's DNA since we incorporated 85 years ago. Community means so much that we added it as one of our core values.
Through volunteerism, donations and sponsorships, Triangle supports over 50 charitable organizations that help our communities for those who need a helping hand. Stay tuned to hear from local charities, how they help others, and how you can help with a simple vote in our Share 'Cuz You Care campaign.
Links:
Learn more about the three organizations featured in the episode:
Harbor Care, Nashua, NH
The Upper Room, Derry, NH
Webster House, Manchester, NH
Visit our Share 'Cuz You Care campaign page to vote DAILY for the nonprofit you'd like to see win the top donation of $1,000 from Triangle Credit Union. 
Learn about Triangle's financial planning resources 
Check out other financial resources and blogs at TCU University
View episode transcript.