Author Archives: Chief Marketing Officer Jessica

Summer Savings Challenge: Boosting Your Financial Health in 75 Days

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You’ve probably heard of the 75 Hard Fitness Challenge. Now that it’s officially summer – join First Financial in completing the 75 Hard Financial Wellness Edition. In just 75 days, you can substantially increase your savings, cut down on your spending, learn financial wellness tips that will last a lifetime, and create habits that will put your finances in the best shape of your life. Just as the original 75 Hard Fitness Challenge can transform your physical health through daily discipline, our Financial Wellness Edition will transform your financial health with simple and effective daily money habits.

The rules are simple and are done over a period of 75 days:

1. Put any sum of money in a savings account each day.

Building a habit of daily savings, no matter how small – can lead to significant financial growth over time. This practice reinforces the importance of saving and makes it a non-negotiable part of your routine. Easily set up an automatic transfer of any amount from your checking to your savings account every day.

2. Track your spending in a journal or app.

Keeping a daily record of your expenses increases your awareness of spending patterns and helps identify areas where you can cut back. This practice can reveal surprising insights about where your money actually goes. The First Financial Mobile App allows you to view and track your spending 24/7 from anywhere. You can even control transactions by category – gas, restaurants, grocery store, location, and more, to gain a deeper insight into your spending habits.

3. Read 10 pages of any financial wellness book each day.

Investing time in financial education equips you with the knowledge to make better money decisions. By reading 10 pages a day, you can complete several books in 75 days – enhancing your understanding of topics like budgeting, investing, and debt management. Consider starting with classics like “Rich Dad Poor Dad” by Robert Kiyosaki or “The Total Money Makeover” by Dave Ramsey.

4. Do not take on any new debt.

Avoiding new debt during this 75 day challenge, helps you focus on managing and reducing existing debt while living within your means. This rule encourages mindful spending and prioritizes saving over borrowing. For example, instead of financing a new gadget – this is your opportunity to save up and pay for it in cash, avoiding unnecessary interest.

5. Set a daily spending limit.

Establishing a daily spending limit keeps your expenses in check and prevents impulsive purchases. This habit helps you stay within your budget and ensures you have enough funds for essential expenses and savings goals. For instance, if your daily limit is $20 – you’ll be more selective about your purchases and focus on what you truly need.

6. Cook dinner at least 5 days a week.

Cooking at home is often more cost-effective than dining out, and allows for healthier meal choices. By preparing your own meals, you can save a significant amount of money each week. Plan your meals, shop with a list, and meal prep to make this task easier. Preparing a large batch of soup, pasta, or meat and rice bowls can provide dinners for several days – reducing the temptation to order takeout. Plus, purchasing the ingredients in bulk can be more cost-effective too.

Embracing our 75 Hard Financial Wellness Edition can lead to profound improvements in your financial health. By committing to these six simple rules over the next 75 days, you’ll develop positive financial habits that can last a lifetime. We hope you’ll join us on this journey this summer, and we can’t wait to hear about your financial transformations. Get started today!

For more personalized assistance and tailored financial solutions call us at 732.312.1500, visit a branch, or explore our services online.

Making Sense of Medicare

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Medicare is confusing, with a ton of rules and dates, inclusions, exclusions, and exceptions. But for those who are 65 years of age or who meet certain qualifying conditions, it’s essential to understand its key parts to maximize their benefits and features.

Let’s start with how it’s structured. Medicare includes four parts: A, B, C, and D.

Parts A and B are called Original Medicare. Part A covers hospital stays and Part B covers doctor visits.

In a bit more detail, Part A pays for hospital stays and follow-up costs associated with those stays. It also covers various outpatient medical services, such as home healthcare and physical therapy.

Part B pays for doctor visits and other medical care administered on an outpatient basis. It may also include the costs of medical equipment/devices and tests.

Original Medicare doesn’t pay all of your medical costs. If you elect Original Medicare — that’s Parts A and B — you should still expect to pay out-of-pocket costs, including copayments and deductibles. Additionally, prescription drugs, vision care, dental care, and hearing services are not covered by Original Medicare, so you may want to consider other options for covering those services.

For instance, you can purchase Medicare supplement insurance and a standalone Medicare Part D plan that helps pay for prescription drugs. Otherwise, you can purchase a Medicare Advantage Part C plan.

Part C, called Medicare Advantage, is an option offered by private insurance companies. It generally provides all of the coverage in Original Medicare and adds — usually — Part D prescription drug coverage, along with dental, vision, and hearing services. While Part C covers many items not addressed in Original Medicare, it may restrict your choice of medical providers and treatment options.

Part D is standalone prescription drug insurance. Most Part D plans require that you pay a premium, and you must sign up for coverage at age 65 or else be subject to penalties if you sign up for it later.

While Original Medicare is the same across the U.S., Parts C and D plans vary according to state, region, and county. Make sure you understand what’s available where you reside to maximize your coverage and benefits. Coverage, costs, deductibles, premiums, copays, and coinsurance vary by plan, so it’s important that you confirm these prior to selecting a plan.

Keep in mind that your choices aren’t permanent. As your healthcare needs change, you can change your plan, too, at least once each year during Open Enrollment from October 15 to December 7.

For more information, speak with a financial professional or visit the Medicare website, at Medicare.gov

Contact First Financial’s Investment & Retirement Center by calling 732.312.1534 to speak with professionals who can help steer your finances in the right direction. You can also email 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

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It’s Time for a Mid-Year Financial Check In

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Can you believe it’s June already? The official start of summer will be here before you know it. Being that it’s now mid-year, this is a significant time to re-evaluate your financial goals from January. Think about what is working and what you may need to change up for the second half of the year. Keep reading to get some ideas on how to complete your mid-year financial review.

Organize Your Financial Records

If your financial records are a mess or you don’t know where to find important documents, now’s the time to get organized. Make sure you have original documentation for wills, deeds and any paperwork for inherited assets. Other records of importance? Be sure you are maintaining files on tax returns, retirement plan and investment statements, mortgage records, insurance policies, bills, important receipts, financial account statements, pay stubs, benefits information and any estate planning documents. You can either choose to maintain records of these documents in paper form or electronically on your computer or tablet – just ensure you have some record of this list or know how to access them quickly if needed.

Check Your Credit Score

Your credit score is a good indicator of your financial well-being. Double check your credit score at least annually to look out for any red flags, like missed payments or possible identity theft. Also checking your monthly account statements or regularly logging into online banking or your financial institution’s mobile app, can help you spot any fraudulent account activity right away.

Feed Your Emergency Fund

Credit cards are not substitutes for having cash on hand. It’s important to regularly add to your emergency fund, which should only be accessed for unexpected emergencies – like home or auto repairs. A good way to add to your emergency fund? Allocate your direct deposit. Even if you start with taking $20 out of each paycheck and having it deposited right into your emergency savings account every payday – this can really add up over time and most likely, you won’t even miss it. If you’re not sure how to set this up, ask your Human Resources or company payroll department for assistance.

Put Up Digital Walls

Cyber crimes are increasing in number by the day. It’s time to make sure you’ve updated your online passwords, that you’re using encryption or two-factor authentication to login to websites whenever possible, and that you aren’t sharing sensitive data or doing your banking over public Wi-Fi networks.

Re-Evaluate Your Financial Goals

Do your financial goals still make sense for the rest of the year? A lot can happen in 6 months, and you may have had some scenarios that warrant a second look. Have there been any other major financial changes this year? Think family, income, asset, debt or business related events. If there have already been or you know there will be changes to any of these items before the end of the year – reach out to a financial professional today.

At First Financial, our members are like family and we are here to help you achieve your financial goals. For more personalized financial assistance call 732.312.1500 or visit your local branch today. Don’t miss out on more financial tips and advice – be sure to subscribe to our monthly e-newsletter.

P2P Team Donation Scams

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There’s a new person-to-person (P2P) payment scam out there. It involves young adults going door to door, looking to “fundraise” for a sports team or extracurricular organization. But be leery, this is a scam designed to steal your money! How does it work? We’ll show you exactly how this scam plays out and how you can prevent it from happening to you.

How the Scam Works

  • A group of young adults rings your doorbell or comes up to you in person while you’re out, and tells you they are trying to raise funds for their sports team to buy new uniforms (or for a similar activity).
  • There is a clear spokesperson in the group whose job is to distract you, by explaining a lengthy story on what the “donations” will be used for and how much they would help the team. While you’re listening to the bogus story, another member of the group says not to worry – you can easily donate through Venmo or Zelle, and they’ll quickly put their contact information in your phone for you so that you can do a quick transfer once they leave.
  • While you are distracted with the story and how easy the scammers make the donation options sound, it’s not hard to fall for this scam and hand over your phone without thinking it through – to the individual who asked for it. However, you should never give your unlocked phone to anyone you do not know! This is how the scam unfortunately takes place.
  • Once the scammer has your unlocked phone, they can easily click on your Venmo or Zelle app – and transfer your money over to themselves in seconds. You probably wouldn’t even realize it’s happening as one member of the group continues to talk to you and distract you, while you think the one who has your phone is simply entering their contact information for you to make a transfer later.
  • The worst part of a P2P payment scam, is that you typically can’t get your transferred funds back.

You can prevent this or other similar P2P payment scams from happening to you by only sending money to those you know and trust, treating Zelle and Venmo like cash, refraining from giving anyone you don’t know your unlocked cell phone, and if you think something is too good to be true or it feels off – it probably is.

At First Financial, our goal is to help protect our members from scams and identity theft. If you have any concerns or questions about any of your First Financial accounts, please call member services at 732.312.1500 or visit one of our branches.

To learn more about scams and ways to protect yourself, visit zellepay.com/pay-it-safe.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

First Financial Employee Spotlight: Jessica Tortorice

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At First Financial, our dedicated team members are the driving force behind our continued success and unwavering commitment to our members. This month, we are shining the spotlight on Jessica Tortorice, our Vice President of Marketing and Business Development. Jessica has been an integral part of our credit union family for 15 years, starting as a Marketing Coordinator and advancing to her current role with dedication and expertise. Her passion for effective communication and personalized service has helped First Financial grow significantly and brought the credit union closer to the community. Join us as we delve into Jessica’s journey, her contributions, and the role she plays in shaping the future of First Financial.

How long have you worked at First Financial? What was your background/work or education experience in your field before you began working at the credit union? I have been employed by the credit union for 15 years. I started at First Financial as a Marketing Coordinator back in 2008, and at that time I was also going to graduate school to obtain a Master’s Degree in Corporate and Public Communication from Monmouth University. Prior to starting at First Financial, I was a Marketing Coordinator for the Health & Safety Department at the American Red Cross for 4 years. Marketing was my minor at Marist College where I received my Bachelor’s Degree. I have always enjoyed marketing & advertising, and my career path seems to have kept me in the same field.

Can you walk us through one of your most important tasks and explain why it’s significant for our members? My most important task is providing information to our members about our products and services through various communication channels. This includes signage, flyers and brochures within our branches, email communications to our members, social media posts, and digital messaging such as the First Financial website at firstffcu.com. If there is a message which needs to be communicated to our membership, it is my job to make sure that gets done.

What personal values do you bring to your role here at the credit union? How do you see these values reflected in the work of First Financial Federal Credit Union? For me, communication is key when it comes to anything in life – whether it’s at home, work, or in any type of relationship. I try to always ensure the important messages that need to be communicated – whether it’s internally with our employees or externally to our membership, are effectively addressed and made available to those who need them. I see this value reflected in the work of First Financial through the personalized service and communication we provide both internally amongst our staff, as well as to our members. Our employees know our membership and we pride ourselves on being able to give them personalized service and attention that’s tailored to their needs.

How do you personalize your service to meet the diverse needs of our members? My job requires me to be able to communicate to our members across various mediums – whether it’s getting the message across within a branch via advertising collateral and signs, through direct mail, email messaging, social media posts, writing educational blog articles, newsletter publications, or through our website. It’s my job to make sure there are multiple ways to reach and educate our current members and potential future members.

Can you describe the team you work with and how you collaborate? The First Financial Marketing and Business Development Departments began working together as one, over 5 years ago. We recognized at the time that we had the same focus on the importance of communicating with the membership, helping to reach and acquire new members, and get the credit union message out to the local community – as well as provide everyone we could with financial education. This mission is still continued in the work we do together with our community partners throughout Monmouth & Ocean Counties – bringing the credit union message, offerings, and financial education to local school, healthcare, and municipal employees in our area.

In your opinion, what sets First Financial apart from other financial institutions? At First Financial, you’re not just a number. Our frontline staff especially, knows our membership and often greets them by their first name upon walking through our doors. The First Financial Family goes beyond the relationships we have between co-workers, it extends to our members too. If you have a question about something – whether it’s internally between staff or as a member calling in or stopping by a branch, you’re going to actually speak to someone who can help you.

What’s something unique or surprising about you that members or other co-workers might not know? I am an avid photographer, and I also love to bake.

What message would you like to share with the members of First Financial? The credit union is truly here for our members – whether it’s helping you save money on your monthly car payments by refinancing your higher rate auto loan from the dealership, to finding a loan payment and term that fits your budget, or planning for your retirement years – we are here to be your financial partner through it all.

If you could give one piece of financial advice to our members, what would it be? Always save for a rainy day by paying yourself first – you never know when that financial emergency may pop up. Having a bit of a cushion in a savings account can help ease the burden of financial stress, or racking up debt on a credit card that you’ll have to pay off down the line (with interest). It’s easy to allocate even a small amount from each paycheck to go right into an emergency savings fund through your direct deposit. You won’t even miss it!

Jessica’s vision to ensure every member feels informed, valued, and supported in their financial journey epitomizes the core values that define our Leadership Team at First Financial. We invite you to learn more about First Financial and with the guidance of dedicated employees like Jessica, we continue to provide exceptional service and support to our members. Visit our website to discover the First Financial difference.

Want to join the team at First Financial? Check out our careers webpage and apply online for current employment opportunities.

How to Plan a Budget-Friendly Honeymoon

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Are you dreaming of a romantic getaway but worried about the cost? Planning a honeymoon on a budget doesn’t mean sacrificing the magic. With some savvy strategies, you can have the trip of a lifetime without breaking the bank. Let’s explore 12 tips to help make your dream honeymoon a reality without emptying your pockets.

1. Set a Realistic Budget: Outline your essentials and prioritize experiences that matter most to you and your spouse. With a clear budget in mind, you can make informed decisions and allocate funds accordingly to ensure a memorable honeymoon without financial stress.

If the money isn’t readily available, financing can be an option for some couples. Some things in life are non-negotiables – especially things you’ve been dreaming of for as long as you can remember. At First Financial, we know the money just isn’t always there. With our Financial Helper Loan, you can borrow up to $25,000 to help with the costs of your dream honeymoon at a competitive rate.*

2. Embrace Low Season: Off-peak travel not only offers savings, but also provides a chance to immerse yourself in the destination without the crowds. Take advantage of quieter beaches, shorter lines at attractions, more intimate atmospheres, and lower rates during your honeymoon.

3. Quality Over Quantity: A shorter honeymoon doesn’t mean compromising on luxury or adventure. By focusing on quality experiences over an extended timeframe, you can savor each moment of luxury and exhilaration without losing the charm, all while staying within your budget.

4. Discover Affordable Destinations: Explore hidden gems and emerging destinations where your budget goes a little further. These lesser-known locales often offer unique cultural experiences, stunning landscapes, and authentic cuisine without the premium price tag of more popular destinations.

5. Plan and Book Early: Early booking not only secures the best deals, but also allows for greater flexibility and peace of mind. By planning ahead – you can take advantage of promotional offers, secure preferred accommodations, and tailor your itinerary to fit your budget and preferences.

6. Mix-Up Accommodations: Strike a balance between budget-friendly stays and occasional splurges to create a diverse and memorable honeymoon experience. Consider opting for luxury accommodations for shorter stays or unique locations, while saving on one-night stays to stretch your budget further.

7. Consider Group Tours: Small group tours offer the perfect blend of convenience, affordability, and adventure. With expert guides leading the way, you can explore off-the-beaten-path destinations, participate in unique activities, and forge lasting connections with fellow travelers — all while staying within your budget.

8. Research Dining Options: Planning your dining experiences in advance ensures you enjoy delicious meals without breaking the bank. Look for local eateries favored by residents, explore street food for authentic flavors, and consider cooking your own meals using fresh ingredients from markets or grocery stores to save money while still indulging in culinary delights.

9. Consult a Travel Agent: A knowledgeable travel agent can help you navigate the complexities of honeymoon planning while maximizing your budget. From securing exclusive deals and upgrades to providing insider tips and personalized recommendations, their expertise can turn your honeymoon dreams into a seamless and budget-friendly reality.

10. Create a Honeymoon Registry: Customize your honeymoon registry to include specific experiences or aspects of your trip that guests can contribute to. Whether it’s a romantic dinner, a couples’ massage, or a once-in-a-lifetime excursion – allowing loved ones to support your honeymoon fund ensures meaningful gifts that enhance your overall experience.

11. Opt for a Delayed Honeymoon: Postponing your honeymoon allows for additional time to recover from wedding festivities and save money for your dream trip. By choosing a later departure date, you can take advantage of off-peak travel discounts, seasonal promotions, and special offers to stretch your budget further.

12. Utilize Points and Loyalty Programs: By strategically leveraging loyalty programs and cash back rewards – you can enjoy upgrades, discounts, and exclusive perks that enhance your honeymoon experience without increasing your overall budget. The First Financial Cash Plus Credit Card offers customized rewards that can be used on travel experiences and more – with 1% unlimited cash back everywhere.** You can use our credit card for some wedding purchases you were planning on anyway, make your payments on time, and enjoy the fruitful rewards!

As you embark on the journey of planning your dream honeymoon, remember that financial constraints don’t have to dim the sparkle of your romantic getaway. By following these savvy tips, you can craft a budget-friendly honeymoon filled with unforgettable experiences and cherished memories. For more personalized assistance and tailored solutions – call 732.312.1500, visit a branch, or explore our services online.

*APR = Annual Percentage Rate. Rates are subject to change. Maximum loan is $25K and maximum term is 60 months. Not all applicants qualify, subject to credit approval. A First Financial membership is required to obtain a Personal Loan, and is open to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. See credit union for details.

**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.