Author Archives: VP of Marketing and Business Development Jessica

Tips for Buying Thoughtful Holiday Gifts on a Budget

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The holiday season is a time to show appreciation and love through gift-giving, but that doesn’t mean you have to overspend. With a little creativity and planning, you can give meaningful presents while sticking to a budget. Follow these tips to make your holiday shopping both memorable and affordable.

1. Set a Budget and Plan Ahead

Start your holiday shopping by setting a clear budget. Decide how much you can afford overall, then allocate specific amounts for each person on your list. Focus on spending more on close family members and keeping gifts for extended family or friends more modest. Early planning allows you to take advantage of sales and avoid last minute overspending.

2. Time Your Shopping for the Best Deals

Shopping at the right time can make all the difference. Look out for major sales events and retailer emails that offer significant discounts. Additionally, end-of-season sales can be a great opportunity to find hidden treasures at reduced prices. If you shop early, you can also avoid the stress of shipping delays during the holiday rush.

3. Create DIY Gifts

DIY gifts can be a heartfelt and budget-friendly way to show you care. Consider making:

  • Homemade candles or soaps with customized scents and colors.
  • Baked goods like cookies, cakes, or brownies can never go wrong during the holidays.
  • Knitted or crafted accessories like scarves or mittens to share the warmth of the season.
  • Write down your favorite recipes to craft a custom cookbook that can be passed down for generations.

These gifts offer a cost effective solution while also showing the thought and effort you put into them.

4. Shop Secondhand for Unique Finds

Thrift stores and online marketplaces are treasure troves for one-of-a-kind and affordable gifts. Look for vintage jewelry, home decor, or gently used books with character. Grab a nice wicker basket and fill it with items that remind you of the person you’re shopping for or create themed baskets like ‘pasta night’ and fill it with cookbooks, cooking tools, olive oil dispensers, and so on. Shopping secondhand is also an eco-friendly way to celebrate the holidays while staying on budget.

5. Personalize Your Presents

Personalized gifts make even simple items feel special. Custom photo calendars, engraved ornaments, monogrammed bags, or mugs with a favorite quote can leave a lasting impression without breaking the bank. Adding small, personal touches to affordable and useful items can make any gift more meaningful.

6. Stay Organized and Stick to Your Plan

Keeping track of your purchases and sticking to your budget is key to avoiding overspending. Use a spreadsheet or budgeting app to log each gift and its cost. Take advantage of discounts, free shipping, and promotional deals wherever possible. Sticking to a detailed shopping list will help you limit impulse buys and keep your finances on track.

Celebrate Thoughtfully Without Overspending

The holidays are about showing gratitude and love, not how much you spend. By following these tips, you can give meaningful gifts while maintaining financial stability. At First Financial, we’re here to help you make smart financial decisions during the holidays and year round too.

For more financial tips, subscribe to our First Scoop blog for ongoing advice and inspiration!

Amazon Scams to be Aware of this Holiday Season

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The holiday season is a time of joy and giving, but it’s also a peak time for scammers to target unsuspecting shoppers. With online shopping surging during this period, Amazon scams have become a growing concern. These scams aim to trick you into providing sensitive information or making unauthorized payments. By understanding the most common scams and learning how to avoid them, you can keep your finances and personal information safe this holiday season. 

Common Amazon Scams:

1. Order Confirmation Scams

These scams often involve unexpected, fake communications about unauthorized purchases. Scammers alert you of an unauthorized purchase, urging you to act quickly by clicking a link to confirm or cancel the transaction. They may attempt to convince you to share payment information and login details, or even purchase gift cards to resolve the issue.

2. Tech Support Scams

Scammers create fake websites offering “tech support” for Amazon devices or services, luring victims to call a fraudulent number. They may request remote access to your device or ask for sensitive information. Always go directly to the help section of Amazon’s website when seeking help. If you use a search engine, use caution. Legitimate Amazon links contain Amazon.com such as Amazon.com/support.

3. Prime Membership Scams

These scams falsely claim that your Prime membership is at risk or you owe a large membership fee. Scammers may request payment details or bank information to “reinstate” your membership. Amazon will never ask you to provide payment information for products or services over the phone.

Visit the Message Center on the Amazon website or mobile app to review authentic emails from Amazon. To verify your Prime membership status or make payments, log in to your Amazon account, then go to Your Account and select Prime.

4. Account Suspension/Deletion Scams

These scams claim your Amazon account will be suspended or deleted unless you take immediate action, such as providing login credentials or clicking a suspicious link. Always remember that Amazon will never ask you to disclose your password or verify sensitive personal information over the phone or on any website other than Amazon.com.

How to Spot and Avoid Scams:

Go Directly to the Source

Amazon will never ask for your password or sensitive information via phone or email. Check your account status by logging into Amazon directly and reviewing notifications in the Message Center.

Verify All Communications

Legitimate Amazon messages are stored in your account’s Message Center. Always check within your account if you receive suspicious emails, texts, or calls claiming to be from Amazon.

Beware of Urgency Tactics

Scammers often try to create panic or urgency, pressuring you to act quickly. Legitimate companies rarely demand immediate action.

Use Official Channels

Always make payments or update account details through the Amazon website or mobile app. Never enter sensitive information into third-party websites or unsolicited links.

Secure Your Login Credentials

Never share your password or sensitive information over the phone or through email. Enable two-factor authentication for an extra layer of security.

Monitor Financial Activity

Regularly review your bank and credit card statements for unauthorized charges. Contact First Financial immediately if you notice anything unusual or believe you have been a victim of fraudulent activity on your First Financial accounts.

Report Suspicious Activity

If you encounter a scam, report it directly to Amazon using their self-reporting tool or contact their customer service team.

If you think you’ve been targeted by a scammer, visit Amazon’s Identifying a Scam webpage. Amazon has partnered with the Better Business Bureau to provide consumers with a searchable Scam Tracker. This enables you to search for suspicious communications reported by others via email, URL, phone number, and more. Scams are constantly changing and adapting as consumers become aware of new tactics – visit Amazon’s Latest Scam Trends page which is updated monthly with new scams and details you should know.

Stay Safe This Holiday Season with First Financial

At First Financial, we’re committed to helping our members protect their finances and personal information during the holiday season and beyond. By staying informed about common scams and following best practices, you can shop online with confidence. For more financial tips or to report suspicious account activity on your First Financial account, call us at 732.312.1500 or visit a branch today.

 

Your Year End Financial Checklist

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Aspects of Your Financial Life to Review as the Year Closes

The end of the year can remind us of last-minute things we need to address and the goals we want to pursue. Here are some aspects of your financial life to consider as this year leads into the next.

Keep in mind that this article is for informational purposes and is not a replacement for real-life advice. Contact a tax or legal professional before modifying your tax strategy. The ideas presented are not intended to provide specific advice. Also, tax rules are constantly changing, and there can be no guarantee that the rules will stay the same for any period of time.

Investments & Retirement Strategy: If you aren’t already, you may want to consider contributing the maximum to your retirement accounts and review any existing retirement accounts from work. If you are eligible to make any catch-up contributions, it may be a great time also to consider making that decision.

Taxes: It’s a good idea to consider checking in with your tax or legal professional before the year ends, especially if you have questions about an expense or deduction from this year. Also, it may be prudent to review any sales of property as well as both realized and unrealized losses and gains. Look back at last year’s loss carried forward. If you’ve sold securities, gather up cost-basis information. As always, bringing all this information to your financial professional is wise.

Charitable Gifting: Plan charitable contributions or contributions to education accounts and make any desired cash gifts to family members. Such gifts do not count against the lifetime estate tax exemption amount as long as they stay beneath the annual federal gift tax exclusion threshold. Besides outright gifts, you can explore creating and funding trusts on behalf of your family. The end of the year is also an excellent time to review any trusts. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional familiar with the rules and regulations.1

Life Insurance: The end of the year is an excellent time to double check that your policies and beneficiaries are up to date. Don’t forget to review premium costs and beneficiaries and consider whether your insurance needs have changed. Several factors could impact the cost and availability of life insurance – such as age, health, the type of insurance purchased, and the amount purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, you may pay surrender charges, which could have income tax implications. Before implementing a life insurance strategy, you should consider determining whether you are insurable. Finally, remember that any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

Life Events

Evaluate any significant life changes in the last year:

  • Marital status
  • Moving
  • Changing jobs
  • Buying a home
  • Starting a business
  • Inheritance
  • Gifts
  • Additions to the family

All these circumstances can financially impact your life and how you invest and plan for retirement and wind down your career or business. While it’s likely that you have discussed these matters with your financial professional already this year, don’t forget to bring them up in your review.

You can call or email the financial professionals in the First Financial Investment & Retirement Center at 732-312-1534, mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual.

1. IRS.gov, September 15, 2023

5 Simple Ways to Save Money on Holiday Travel

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The holidays are a magical time for reconnecting with family and friends, but traveling during this season often comes with steep costs. Fortunately, with a bit of planning and strategy, you can enjoy your holiday travels without overspending. Here are five simple ways to save on holiday travel in 2024 while making the most of the season.

1. Use Miles or Points for Flights and Hotels

Reduce your travel expenses by redeeming credit card points, airline miles, or hotel rewards you’ve accumulated throughout the year. Many cards and loyalty programs allow you to book flights, hotels, and even rental cars with points – saving you from dipping into your savings.

Key Tip: Don’t hold onto your points for too long, as “points inflation” can devalue them over time.

First Financial’s Visa Signature Cash Plus Credit Card offers 1% cash back on all purchases and uChoose Rewards, which can be redeemed for flights, hotels, and cruises.* Additionally, some hotel loyalty programs provide perks like free nights when booking with points — perfect for extended holiday trips.

2. Be Flexible with Travel Dates

Timing is everything when it comes to holiday travel savings. Flights tend to be cheaper on less popular travel days, such as the holiday itself. For example, flying on December 24th or 25th could cost significantly less than flying on the 22nd. Similarly, shifting your arrival or return date by a few days can help you snag better deals. Depending on your work situation, try to travel early and see if you can work remotely from your destination before and after the holiday. Being flexible with your travel dates can make a noticeable difference in cost.

3. Consider Travel Insurance

Protect your travel investment by purchasing travel insurance, which can cover unexpected disruptions such as cancellations, delays, or lost luggage. While it’s an added cost upfront, travel insurance can save you significant money and stress in the event of unforeseen issues. It’s especially helpful if your plans involve non-refundable bookings or international destinations. Compare policies to find one that suits your needs and provides peace of mind.

4. Lock in Currency Exchange Rates

If your holiday travels take you abroad, consider locking in favorable currency exchange rates. First Financial offers convenient foreign currency exchange services, allowing you to secure your currency at a branch or have it delivered to your home. Currency price protection ensures that fluctuations in exchange rates won’t cost you extra, making it easier to stick to your travel budget.**

5. Use Apps to Monitor Flight Prices

Stay on top of flight deals using tools to track airfare changes. Apps like Expedia and Google Flights allow you to set alerts for price drops, ensuring you book your tickets at the lowest possible cost. If your travel dates are flexible, these tools can help identify the most budget-friendly options. Signing up for travel newsletters or airline sale alerts is another effective way to catch last-minute deals.

Enjoy Stress-Free Holiday Travel

With these simple strategies, you can save money on your holiday travel and focus on what truly matters — spending time with loved ones. At First Financial, we’re here to help you make the most of your finances all year round.

For personalized financial advice or assistance, call us at 732.312.1500 or visit a branch today. Don’t forget to subscribe to our First Scoop blog for more money-saving tips and financial insights.

*APR varies up to 18% for purchases, when you open your account based on your credit worthiness. The APR is 18% APR for balance transfers and cash advances. APRs will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fee. Other fees that apply: Cash advance fee of $10 or 3% of the total cash advance amount—whichever is greater (no maximum), Balance transfer fee of $10 or 3% of the balance—whichever is greater (no maximum), Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. A First Financial membership is required to obtain a Visa® Credit Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties. Your First Financial Visa® Cash Plus Credit Card will earn cash back based on your eligible purchase transactions. The cash back will be applied to your current credit card balance on a quarterly basis and be shown cumulatively on your billing statement. Unless you are participating in a limited time promotional offer, you will earn 1% cash back based upon eligible purchases each quarter.

**You may purchase Currency Price Protection (CPP) for an additional $10.00 in order to protect the purchase rate of transaction. The protected dollar amount may vary based on selection of currency. There is also a purchase/shipping cost for $14.50 per transaction.

7 Ways to Make Your Business Stand Out During the Holiday Season

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The holiday season brings both excitement and competition for businesses, with many eager to capture customers’ attention and increase sales. Standing out can be challenging, but with a little creativity – you can make your business shine during this festive time. Here are seven effective ways to make your holiday marketing memorable and impactful.

1. Share Your Holiday Traditions

Build a stronger connection with your customers by sharing glimpses of your holiday preparations. Behind-the-scenes photos or videos of your team decorating, preparing holiday orders, or celebrating the season can create a warm, relatable connection. When customers feel like part of your holiday traditions, they’re more likely to stay loyal long after the season ends.

2. Reward Loyal Customers

Consider special offers to show appreciation for your loyal customers. Simple incentives like a free item with a minimum purchase or offering free shipping, can make customers feel valued. Hosting a holiday-themed contest or sweepstakes on social media is another fun way to engage your audience and boost excitement around your brand, attracting new and returning customers.

3. Give Back to Your Community

Show your brand’s heart by supporting a local cause or volunteering as a team this holiday season. Instead of just making a monetary donation, consider actively participating in a holiday event or hosting a community drive. This helps those in need while strengthening your brand’s image and demonstrating a commitment to positive community impact.

4. Personalize Your Promotions

During the holiday rush, personalized marketing can make all the difference. Tailor your messages, ads, and promotions to match the needs of specific customer groups. For example, segment your email list by past purchases or preferences and offer relevant recommendations. Personalization shows customers you care about their unique needs and helps your brand stand out in a sea of generic holiday offers.

5. Promote a Donation Match

Instead of the usual holiday discounts, consider setting up a donation-matching campaign for a cause that resonates with your audience. Matching a portion of customer purchases to a charitable donation supports a good cause, while also strengthening brand loyalty. This approach can inspire purchases from customers who value giving back and appreciate brands with a purpose.

6. Offer a Gift Guide

Help your customers find the perfect gifts by creating a holiday gift guide featuring your products and services. A well-curated guide simplifies the shopping experience and highlights your best offerings, making your business an easy solution to consumer needs. If you sell different types of products, create guides for various interests or recipients such as husband, wife, best friend, sibling, etc. Take inspiration from Etsy where there are gift guides for countless occasions, interests, and personas. This thoughtful touch can attract customers looking for tailored gift solutions, making your brand a convenient go-to this season.

7. Craft a Story Around Your Brand

Holiday shoppers connect with stories, so use this time to share meaningful stories that highlight your brand’s values and mission. Whether it’s the inspiration behind a product or a story about how your brand brings people together, storytelling creates an emotional connection with customers. A genuine story can differentiate your business and make a lasting impact.

With these creative strategies, your business can stand out during the holiday season and build stronger customer relationships and connections. At First Financial, we’re here to support your business every step of the way. For more insights, be sure to subscribe to our First Scoop blog for ongoing financial advice and business tips.

Retiring Debt When You Retire

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Many Americans rely on credit cards for their everyday purchases. After all, it’s so easy and tempting – that new pair of shoes looks great, and while they’re expensive, you can pay them off over time, you think, barely giving things a second thought as you tap your smartphone or swipe your card for payment.

But these spontaneous purchases come at a cost – interest that accumulates if you fail to pay your charge card bill in full each month. That debt is bad enough at any age, but when you’re facing retirement and need to live on a fixed income, it can be a brutal financial strain.

While you may not be willing to part with your credit card as you reach your Golden Years, there are a few key considerations for using it when relying on a fixed monthly income.

1. Recognize that not all credit cards are alike. When trying to decide whether to sign up for a card, think about your intended use. While it may offer an attractive rewards program, if you’re not paying off the balance each month, you could pay far more in interest than any rewards would provide. Additionally, these cards typically come with large annual fees and even higher interest rates. Think twice before agreeing to that new card and instead look for a card with a lower interest rate.*

2. Building up a good credit score can help you get a lower interest rate on a credit card. To improve your rating, make sure that you pay your bills on time and minimize your debt. It’s a catch 22 – if you could pay your bills on time each month, you wouldn’t necessarily need a credit card.

3. Try your best to reduce your debt each month. While doing away with all credit cards may be impractical, reducing your debt will help keep your finances in order and your fixed income more predictable.

If you need help reducing your debt, talk to a financial professional who could help you develop a plan that works for your habits and lifestyle.

Call or email the financial professionals in the First Financial Investment & Retirement Center at 732-312-1534, mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com.

 Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

This material was prepared by LPL Financial, LLC

Tracking #1-05363571

*APR varies up to 18% for purchases, when you open your account based on your credit worthiness. The APR is 18% APR for balance transfers and cash advances. APRs will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fee. Other fees that apply: Cash advance fee of $10 or 3% of the total cash advance amount—whichever is greater (no maximum), Balance transfer fee of $10 or 3% of the balance—whichever is greater (no maximum), Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. A First Financial membership is required to obtain a Visa® Credit Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.