Author Archives: VP of Marketing and Business Development Jessica

How to Get Dorm Room Essentials on a Budget

Posted on by
Reply

One of the most exciting parts of college is decorating your dorm room. Whether you have a single, double, or triple room, you can still make your space uniquely you – even while on a budget. While there are many dorm room essentials you’ll need, there are always inexpensive options and tricks that can help bring out your personal style.

Here are our top ways to shop for your dorm room while on a budget.

Make a realistic shopping list

Before you start putting together a shopping list, confirm the room dimensions, bed size, and included furnishings. This will help you avoid purchasing any unnecessary items or incorrect sizes. See our handy shopping checklist below and evaluate what you already have, what you don’t actually need, and what you can potentially share with your roommate.

  • Bath & bedding: A comforter, throw blanket, sheets, pillows, pillowcases, mattress pad (you’ll thank us later for this one), bath towels, washcloths, shower shoes, shower caddy, bathrobe, shower cap, heating pad.
  • Health & beauty: Shampoo, conditioner, hair styling products, deodorant, hairdryer, brush, body & face lotion, sunscreen, toothbrush, toothpaste, floss, mouthwash, q-tips, portable makeup holder, your preferred makeup essentials, nail clippers, loofah, razor, shaving cream, first aid kit, pain relievers, cold & flu medications, sanitary products.
  • Laundry & clothing: Laundry basket, detergent, softener, bleach, dryer sheets, lint brush, iron or steamer, ironing board, luggage.
  • Storage: Clothing hangers, shoe rack, storage for under your bed, desk organizer, hanging closet organizer, cube organizers, trash can.
  • Decor: Sticky wall mounts and adhesive hooks, rugs, floor lamp, desk lamp, step ladder, bed riser, fan, additional seating, bulletin board, picture frames.
  • School supplies: Backpack, laptop protective case, calendar, pens, notebooks, sticky notes, highlighters, stapler, extension cord, markers, computer mouse, whiteout, tape, scissors, index cards.
  • Electronics & appliances: Computer or laptop, TV, speakers, gaming system, tablet, HDMI cord, coffee maker, microwave.

Keep in mind that not all of these items are necessary for your dorm room and many of these you may already have. For your more common dorm room essentials, check larger department stores or online retailers like Amazon. This way you can compare prices and find bigger savings.

Find secondhand items

Thrifting isn’t just great for finding one-of-a-kind clothing items, you can snag some cool furniture, art, and decor, too. It’s also a great way to shop sustainably while being easier on your wallet. Stores like Goodwill and The Salvation Army resell donated furniture while also reinvesting in their own communities through job training programs and more. You can find thrift stores near you through The Thrift Shopper’s directory.

Source online marketplaces

You can spend hours looking through Poshmark or Facebook Marketplace for home goods, clothing, and unique finds. Some sites even let you negotiate a better price, especially if you’re bundling multiple items. Make sure to check with your college, since many universities also have an online marketplace just for students.

Share items with your roommate

You probably don’t need two TVs or Keurig machines in one small space. Before you dive into shopping, touch base with your roommate on what they plan on bringing and what you can share. Dorm rooms are limited in space, so having duplicates of everything is unnecessary.

Get crafty with DIY decor

Did you know you can download digital versions of famous art for non-commercial use? That means you can download, print, and frame your favorite artwork from museums like The Metropolitan Museum of Art for your dorm room. If you want to get a bit creative, you can also upcycle old magazines to make wall art or use string to make a geometric photo display. With time and inspiration, you can make your own decorations that will help you feel at home in your new space.

No matter what your budget is, making your dorm room your home-away-from-home is still within reach. Enjoy this milestone in your life, but don’t forget to stay safe and be responsible for how you spend your money as well. If you’re looking for more college-friendly financial tips, check out our blog, What We Wish We Knew About Money in College.

Want to see more articles like this? Subscribe to First Financial’s monthly newsletter for financial resources and advice.

 

What We Wish We Knew About Finances in College

Posted on by
Reply

Being on your own for the first time is one of the most empowering feelings. Whether you’re living in a dorm, an off-campus apartment, or are commuting from home – college life will give you your first taste of independence. And while adulthood may sound glamourous, there’s certainly more responsibility to manage – and that includes your finances.

One of the most important factors of growing into adulthood is how you manage your money. Those habits you make now will have a lasting impact on your financial wellness down the road. Here’s what we wish we knew about money management when we were in college.

Start building credit, but avoid credit card debt

You might be thinking more about classes right now, but after you graduate college – your credit score will have an even bigger impact on your life. Your credit score essentially determines your creditworthiness to lenders when you apply for a credit card or a loan. So, if you have a low score, it will be far more difficult to buy a car or even secure housing in the future.

Start by working on building your credit now. You can do this by applying for a credit card and having your parents added as authorized users (or vice versa). At First Financial, we offer a Visa® First Step Credit Card that’s specifically designed to build or establish your credit.*

Having a credit card is crucial for building credit, but you need to also make sure you’re paying it off in full each month. It can be easier than you think to pile on credit card debt. Some people use their cards like they’re free money, but in reality – you should only be making purchases that you can afford. Otherwise, paying your balance will become more difficult and interest will quickly add up.

Check out our blog post on credit card tips for beginners to learn more.

Always have an emergency fund

Part of adulting is having a back-up plan for when things go wrong. And most of the time, that means having a lump sum of emergency funds in case you have a large medical expense or car repair. As you get older, saving money will become increasingly important – so getting in the habit now is a great way to set yourself up for success.

Open a separate savings account and deposit a small amount of money into it regularly from any paychecks or gifts you receive. The amount you choose should be based on what you can afford. Even starting with putting away $25 per paycheck is a great, because it will add up overtime. The goal is to eventually allocate 20% of your paycheck to your savings, but everyone has to start somewhere!

Utilize student discounts

Companies know college students are on a budget, and many create affordable deals and memberships just for them. Don’t overlook how much money you can save by asking for a student discount. Trust us – you’ll miss it as soon as those perks go away! Many services like Amazon Prime, Hulu, Amtrak, and more offer discounted subscriptions and fees for students. Even insurance companies may offer lower rates for those in high school or college full-time.

While it’s important to balance your classwork while managing your money, you should also prioritize fun and safety. College goes by faster than you think – and the more you learn and enjoy yourself during these years, the better!

Want to see more articles like this? Subscribe to First Financial’s monthly newsletter for financial resources and advice.

*APR varies up to 18% for the Visa First Step Credit Card when you open your account based on your credit worthiness. This APR is for purchases and 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 Fees. Other fees that apply: Balance Transfer and Cash Advance Fees of 3% or $10, whichever is greater; Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. No late fee will be charged if payment is received within 10 days from the payment due date. A First Financial membership is required to obtain a VISA Credit Card and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties.

 

Don’t Get Scammed While Back to School Shopping

Posted on by
Reply

It’s that time when all you parents out there are probably shopping online, trying to get the best deals on school supplies and clothing for the upcoming academic year. While you’re busy shopping and trying your best to save money, be on the lookout for scams. Continue reading about some of the most common ones that are out there.

Do your research. Are you clicking and adding to cart on a new website you’ve never used? Before you actually make a purchase, do a quick online search for the merchant’s name. See if anything comes up that mentions a multitude of complaints or lists any scams associated with the company name. You can also check the company’s social media sites to see reviews and comments, as well as look on the Better Business Bureau’s website. If you are browsing around a website and see misspelled words or unclear sentences, this is another indicator that it may be a fraudulent website.

Take precautions with online ads. Don’t think that scammers can’t purchase ads on social media sites. If you see something too good to be true, or that follows the website criteria we just mentioned – it’s best to shop elsewhere.

Review the price and availability. Are you looking for something in particular that you can’t seem to find anywhere else, but seeing it available at a great price on an unknown website or ad? Be leery of this. It could be a trap to lure you to the fraudulent website, and pay for merchandise you’ll never receive – or be able to get your money back.

When checking out, make sure the web browser is secure. How to know a website is legitimate and secure? The web address and payment page URL will begin with https:// and you should see a lock icon at the top. Also, if paying via PayPal through the merchant’s website is an option – take it. This protects your card information and also would help with reimbursement to you should there be any issues with your purchase.

Shop with a credit card. When you can, it’s always better to shop online with a credit card. This protects you if there is a dispute for charges you didn’t approve. If you use a debit card, the funds actually get deducted from your bank account and while you can still file a dispute and get your money back – it may take awhile. Credit cards typically also offer higher daily purchase limits. Read more about our advice on this topic in our credit vs. debit guidebook.

Check the fine print. Before purchasing, be sure to review the merchant’s return policy to make sure you can return items you purchase, if there are any restocking fees, or if you’ll need to pay for return shipping. You’ll also want to read any additional fine print details and see how long shipping might take, as well as where your order is shipping from. Will tracking information be provided and notifications, once your items have shipped?

What do you do if you were scammed? Hopefully you either paid with a credit card or through PayPal. If so, you’ll want to call your credit card company right away, and with PayPal you can open a case online. You should also report the fraudulent website to the Better Business Bureau and FTC websites.

This back to school season, stay safe online and prevent fraud from happening to you! Questions about a scam involving any of your First Financial accounts? Contact us right away.

Article Source: News12.com

Tips for Saving on Summer Energy Bills

Posted on by
Reply

Ah, summertime. The time of year when air conditioners are on full blast and families are flocking to the pool or beach. If you haven’t already noticed how hot it’s been this season, then you certainly will when you receive your next energy bill. You don’t need to have a hefty bill just to stay cool. Here are our tips for saving energy in your home this summer while keeping costs down.

Stop hot air from entering your home

You might not realize it, but there’s likely pesky hot hair leaking into your home through windows. About 30% of a home’s heating energy is lost that way. You can stop this from happening by installing window coverings like drapes, shades, plastic films, shutters, awnings, or storm windows.

Heat is also able to make its way into your home through cracks. You may want to consider hiring a weatherization expert to assess your home for air tightness. In the meantime, you can caulk, weatherstrip, and seal air leaks in doors, windows, plumbing, floors, ceilings, and areas where electrical wiring comes through walls. Keep in mind that air sealing is a temporary solution to reduce heat flow and proper insulation will eventually need to be applied.

Adjust your energy use

Rethinking the way you use energy in your home is easier than you think. From lighting and water use, there are so many small adjustments you can make that can have a big impact on your final bill. Here are a few to get you started:

  • Switch to LED lighting – it uses 75% less energy and lasts up to 25 times longer!
  • Take advantage of natural daylight, but keep the curtains closed to avoid getting too hot.
  • Wait to use energy until “off-peak” hours such as early mornings or later at night.
  • Ensure all devices are unplugged when not in use.
  • Wash full loads of dishes and clothes in bulk for better efficiency.
  • Doublecheck that your refrigerator and freezer doors are sealed airtight and try limiting the number of times you open them.

Keep your cooling system up-to-date

Aside from getting regular maintenance, there are other ways to ensure your cooling equipment is running as efficiently as possible.

  • Regularly clean or replace your air conditioner filter or coil.
  • Move your air conditioner away from lamps, TVs, and other appliances that can cause the thermostat to sense heat and run longer than necessary.
  • Ensure furniture and other objects are not blocking airflow from your cooling system.
  • Consider a programmable thermostat that will automatically be set warmer when you’re away and cooler when you’re home.
  • Avoid setting your thermostat at a colder setting than normal when you first turn on your air conditioner.
  • Utilize fans and ventilation in rooms with extra humidity, like your bathroom or kitchen.

Saving energy isn’t just a summer consideration – it’s something that can be done all year long. Getting into good habits now will help you reduce waste, improve efficiency, and save money. In the meantime, we hope you’re able to stay cool and enjoy the beautiful weather this summer. Don’t forget to stay hydrated, too!

Want to see more articles like this? Subscribe to First Financial’s monthly newsletter for financial resources and advice.

Backyard Cookout Ideas on a Budget

Posted on by
1

The smell of a sizzling barbecue, sunscreen, and freshly mowed grass fills the air – summertime is indeed in full swing. And chances are, you’ve already been to a backyard cookout or pool party this season. If you’re looking to host friends and family for some grilling and fun, there are plenty of ways to have a party without breaking the bank.

Here are our top inexpensive grilling ideas for your next summer cookout!

Start budgeting and planning

Before you start shopping for grilling and party supplies, it’s always a good idea to start with a list of what you need to budget for. You may even want to consider having a maximum amount you can spend. Once you have a rough starting point of what you’d want for your cookout, you can determine what is essential and what is a wish list item.

Your cookout shopping list might look something like this:

  • The main course: Hamburgers, hotdogs, meatless alternatives, rolls, and buns
  • Side dishes: Vegetables, potato or pasta salad, coleslaw
  • Condiments: Ketchup, mustard, relish, and other grilling staples
  • Starters: Dips, chips, crackers, cheese platters
  • Desserts: Watermelon, ice cream, cookies
  • Beverages: Soda, water bottles, seltzer, iced tea, beer, wine, and fixings for cocktails
  • Utensils, napkins, cups, and paper plates
  • Insect repellent
  • Decorations & games
  • Grilling accessories
  • Cooler(s) and ice

Do you already have condiments at home? Or perhaps you don’t need to buy new decorations and outdoor games. Try to think where you can cut back from your list, and figure out how much you can afford for party expenses.

Stick to the grilling basics

Grilling enthusiasts might hand you a detailed list of pricey grilling accessories, but don’t be fooled. You actually don’t need as much as you think (even if those items are helpful). The only essential tool for grilling is wood, which enhances the flavor of the food you’re grilling or barbecuing. Another helpful instrument is a meat thermometer, which is relatively inexpensive. The internal temperature of your meat is the best way to ensure it’s cooked properly.

Consider alternatives and shop sales

If you’ve been in a grocery store recently, you’re likely aware that meat prices are soaring. This is forcing many shoppers to consider alternative options for their barbeque parties and meal plans. Don’t get discouraged just yet, though. There are a few different ways you can approach saving on meat costs.

Here are a few we recommend:

  • Explore meatless options: Stock up on veggie burgers, and look into cooking vegetable-based entrees (grilled portobello mushrooms are delicious, and some are as big as a burger anyway!). Also, have you ever tried grilled pineapple or watermelon? If not, it’s a must!
  • Make your own patties: Instead of getting more expensive pre-made patties for convenience, consider using ground beef and making your own.
  • Shop sales: This may go without saying, but you should always keep an eye out for sales on meat products – and try to buy less expensive cuts like chicken and turkey.

Make it a BYOB or potluck party

Don’t be afraid to ask your friends and relatives to bring their own beverages. Beer, wine, and liquor prices really add up fast – and your guests probably all have their own preferences. Another approach is to make your backyard cookout a potluck party. This way, each person can bring their favorite dish, and the guests can plan who’s responsible for bringing what. Either way, this will take some of the weight off your shoulders and will be easier on your wallet.

Make your own sauce

You don’t have to be a master chef to make a delicious rub or BBQ sauce. Plus, you likely already have all the ingredients in your kitchen. All you’ll need is salt, pepper, ketchup, vinegar, and mustard. For an easy to make rub – we recommend salt, sugar, pepper and paprika. Of course, your sauces can be a bit more flavorful if you’d like – try some of these homemade BBQ sauces for inspiration.

No matter the size of the cookout, there will always be ways to save on the final grocery bill. The first step is to determine how much you can actually spend, and then give yourself a cap. Without that max budget – your shopping list could get out of hand, and the idea is not to accumulate debt by having a fun summer get together. We hope you enjoy the rest of your summer and get to spend some backyard time with family and friends!

Want to see more articles like this? Subscribe to First Financial’s monthly newsletter for financial resources and advice.

 

 

What You Need to Know About Gift Card Scams

Posted on by
Reply

Picture this – you get an email from your boss asking you to purchase gift cards for a client. While it seems out of the norm for your boss to ask this, you’re willing to help out with whatever is needed. Right before making the purchase, you notice the email is from an address you don’t recognize and is not actually from your boss.

Does this sound familiar to you? This is what we call a gift card scam, which is more common than you may think. One in three adults have been targeted by these types of scams, but there are plenty of ways to spot and prevent them from happening to you.

What is a gift card scam?

Think about it this way – gift cards are meant for gifts, not to make payments. However, scammers tend to use gift cards because they’re easy for people to buy and are similar to cash – since the money is gone once the gift card is purchased.

Gift card scams can look different depending on the situation, but usually follows a similar pattern. You’ll receive a call or email asking that you pay with gift cards, and once they have your gift card number and PIN – they have your money. Scammers can be convincing by making it seem like they need the card urgently, which is how so many people fall into these unfortunate types of scams.

How do you know if it’s a scam?

If you’re being asked to pay someone through a gift card, it’s safe to say it’s a scam. That may sound simple, but scammers can be convincing by pretending to be someone you can trust. This is how they trick so many people.

Here are some common situations for gift card scams:

  • The caller says they’re from your power company and threatens to cut off your service until you pay them (with a gift card).
  • An employer says they are ready to hire you but need you to pay for your computer or other equipment through a gift card before you start.
  • Someone says you’ve won a contest, but you’ll have to pay fees with a gift card before you can claim your prize.
  • The scammer pretends to be a friend or family member saying they need money immediately for an emergency to be put on a gift card, but tells you not to tell anyone.
  • You receive a call from the IRS or Social Security Administration saying you need to pay taxes or a fine immediately, via gift card only.
  • You meet someone on a dating app who needs money and asks you for help.
  • The person asking for you to make a payment through a gift card asks for you to purchase it through specific retailers like Amazon, Target, or Walmart. They may also ask you to purchase a certain gift card such as eBay, Google Play or iTunes.

These are just a few of the many ways scammers can try to convince you to give them your money. If anything seems out of the blue or suspicious, it’s probably a scam!

What to do if you’re being scammed

Do not respond to anything you think could be a scam, even if you’re unsure. If you already paid a scammer with a gift card, tell the merchant that issued you the card right away. Check the retailer’s website for resources on reporting scams as well. If the card issuer is hard to reach or is unable to help, report it to the FTC. Even if you didn’t actually pay the scammer, it’s a good idea to report it anyway to prevent this type of scam from happening to anyone else.

At First Financial, we are here 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.