Category Archives: Holiday and Seasonal Finances

Summer Garage Sales: What to Buy and Avoid

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Throughout the summer, yard sales are a popular weekend activity for bargain hunters seeking hidden treasures at unbeatable prices. Whether you’re a seasoned yard sale enthusiast or a novice looking to make the most of your budget, it’s important to know what items to buy and what to avoid. Explore the world of yard sales through a money-saving lens, but make sure you consider what you should buy and what to avoid in order to save money in the long run.

What to Buy at a Yard Sale

Musical Instruments -Yard sales can be a goldmine for music enthusiasts. Look out for gently used instruments that are still in good condition. Consider testing them out or researching their value beforehand to ensure you’re getting a fair deal.

Kids’ Clothes – Children outgrow their clothes quickly, so purchasing second-hand items at yard sales can save you a bundle. Look for gently worn kids’ clothes, ensuring they are clean and free from stains or tears.

Kitchen Supplies – Yard sales often offer a wide range of kitchen supplies – such as cookware, utensils, and appliances. Take advantage of these deals to upgrade your kitchen without breaking the bank. Check for functionality and cleanliness before purchasing.

Picture Frames – Decorating your home can be expensive, but yard sales offer an affordable way to find unique picture frames. These can add a personal touch to your living space while saving you money.

Wooden Furniture – Well-made wooden furniture can last for years, be simple to spruce up, and you can find some real gems at yard sales. Look for sturdy pieces with minimal damage, and don’t be afraid to negotiate the price.

Sports and Exercise Gear – Stay active on a budget by browsing yard sales for sports equipment and exercise gear. Items like bicycles, tennis rackets, golf clubs, and weights can often be found at significantly reduced prices.

Books – Bookworms rejoice! Yard sales are a great place to find books at a fraction of their original cost. Dive into a wide variety of genres and expand your library without breaking the bank.

What Not to Buy at a Yard Sale

Open Puzzles and Games with Lots of Parts – While puzzles and games can be a fun addition to your leisure time, it’s best to avoid open boxes with potential missing pieces. Incomplete sets can be frustrating, so opt for sealed boxes or items where you can ensure all the parts are intact.

Electronics and Appliances You Can’t Test – Yard sales often feature electronic devices and appliances, but it’s a challenge to verify their functionality on the spot. Unless the seller allows you to test the item, it’s safer to skip these purchases to avoid potential disappointment and aggravation later on.

Mattresses and Plush Items That Can Carry Pests – While you may find seemingly good deals on mattresses or plush items like stuffed animals, be cautious. These items can harbor pests, such as bedbugs or dust mites. To ensure a hygienic purchase, it’s best to buy new when it comes to bedding and plush items.

Cosmetics – Personal care items like cosmetics should be purchased new to ensure safety and hygiene. Yard sale cosmetics may have expired or have been improperly stored, which can lead to skin irritation or even infections.

Cribs and Car Seats – Safety should always be a top priority, especially when it comes to items for infants and young children. Yard sale cribs and car seats may not meet the latest safety standards or could have hidden defects. It’s best to purchase these items new to ensure the utmost protection for your little ones.

Bike Helmets – Protective gear, such as bike helmets – should always be purchased new to ensure optimal safety. Helmets that have been previously used may not provide adequate protection in the event of an accident.

Non-stick Pans – Non-stick pans can wear down over time, potentially exposing harmful substances. It’s advisable to invest in new, high quality non-stick cookware to avoid any health risks.

Running Shoes – Athletic shoes form to the shape of the wearer’s feet over time. To provide proper support and prevent any foot-related issues, you should always purchase them new.

Yard sales can be a fantastic way to save money while finding unique and useful items. By knowing what to buy and what to avoid, you can make the most of your summer yard sale adventures. Remember to inspect items thoroughly, negotiate prices when appropriate, and prioritize safety when it comes to certain purchases. Happy bargain hunting!

At First Financial, your financial well-being is our top priority. We are dedicated to offering you resources and tools to assist you in reaching your financial goals. To begin your journey, stop by one of our local branches or dial 732.312.1500.

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It’s Time to Spring Clean Your Finances

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Temperatures are beginning to rise and flowers are starting to bloom — spring is here! This season is also the perfect time to declutter your finances, just like you would your home. The change in season presents an excellent opportunity to take a closer look at your financial situation, get organized, and make some necessary variations to improve your financial health. Here are our tips on how to spring clean your finances.

Review your budget

The first step to decluttering your finances is to review your budget. Take a look at your monthly expenses (using our fillable PDF worksheet as a guide) and identify areas where you can cut back. You might be surprised at how much money you can save by canceling subscriptions you no longer use or reducing your spending on non-essential items. This is also a good time to shop around for better deals and discounts on insurance and other utilities.

Consolidate your accounts

If you have multiple bank accounts or credit cards, it can be challenging to keep track of all your transactions. Consolidating your accounts can help you stay organized and simplify your financial life. Consider transferring balances to a single credit card or merging your bank accounts into one. If you’re looking to consolidate credit cards or debt, consider one of our four credit card options that offer low rates and extra benefits.*

Check your credit report

Your credit score plays a crucial role in your financial health, and it’s essential to check your credit report regularly to ensure that it’s accurate. You can request a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year. Review your report carefully and dispute any errors that you find.

Is your credit score on the low side? We’re here to help! Read our blog post on ways to improve your credit score.

Develop a savings strategy

The first step in developing a savings strategy is to set specific financial goals and determine how much you need to save each month to achieve them. Next, automate your savings by setting up a direct deposit from your paycheck or scheduling recurring transfers from your checking account to your savings account. You can also consider using a budgeting app or tool to help you track your expenses and identify areas where you can cut back to free up more money to save.

Related Article: Viral Money Challenges That Help Build Your Savings

The benefits of spring cleaning

By decluttering your finances, you can enjoy immediate financial benefits. Here are some benefits you can expect to see:

  1. Reduced Stress: Financial stress is a common problem that many people face, and it can have a significant impact on your mental health. By decluttering your finances and getting organized, you can reduce stress and improve your overall well-being.
  2. Increased Savings: When you reduce your expenses and sell unwanted items, you’ll have more money to save or invest. Even small changes in your spending habits can add up over time and help you achieve your financial goals.
  3. Improved Credit Score: A clean credit report can improve your credit score, making it easier to qualify for loans, credit cards, and other financial products. By reviewing your credit report regularly and disputing any errors, you can ensure that your credit score accurately reflects your creditworthiness.
  4. Better Financial Habits: Decluttering your finances can help you develop better financial habits – such as budgeting, saving, and investing. By making small changes to your financial habits now, you can achieve long-term financial success.

Spring cleaning your finances is a simple but effective way to improve your financial health. By taking our recommended steps, you can enjoy immediate financial benefits and develop better money habits for the future. Our representatives at First Financial are here to help keep your finances on track. Call us at 732.312.1500 or stop by any of our local branches.

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

*APR varies up to 18% when you open your account based on your credit worthiness. These APRs are 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. 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. See firstffcu.com for current rates.

 

Ways to Spend Less Money This Winter

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If you’re a homeowner, you probably already know staying warm in the winter can be costly. Heating your home itself can make up more than 40% of a utility bill. On top of that, natural gas inventories have dropped this year, causing prices to increase by 300%. Staying warm is important, and luckily there are tricks to cutting those costs without having to completely turn off your thermostat.

Winterize your home

To avoid cold drafts and heat from escaping, winterizing is essential. Don’t get stuck wondering where the cold air is coming from – get ahead of it with this checklist:

  • Seal your windows and install thermal curtains
  • Get a weatherstrip seal to cover door gaps
  • Clean or change your furnace filter
  • Ensure your attic is properly insulated
  • Caulk gaps you find around your windows or on the walls
  • Install a programmable thermostat

Prevent winter damage

Without proper maintenance and preparation, homeowners risk having pricey damage to their homes. Severe winter conditions like snow and ice can lead to strain on your roof and gutters, plumbing problems, flooding in the basement, cracks in the foundation, and even potential fires. This can lead to heavy repair fees and long-term issues. Here’s what you can do:

  • Clear your gutters
  • Hire a chimney sweep
  • Clean your dryer vents at least once annually
  • Install monitoring devices on your water pipes

Use heat alternatives

If you plan on lowering the heat to cut costs, make sure you’re stocked up on blankets, slippers, warm pajamas, and heating pads. A space heater is a good alternative if you’re warming a small area as well. During the day, you’ll want to take advantage of the natural sunlight and keep the curtains open (but close them when the sun goes down).

Cook at home & buy in bulk

Save money on dining out and cook cozy meals at home like soups, pasta dishes, stews, or pot pies. Not only will these meals warm you up, but they’ll also keep the kitchen toasty from using the oven or stove. When getting ingredients for these meals, it’s best to buy in bulk from membership stores. This way you can save on your grocery bill and spend less on gas by reducing the amount you’re driving to the store.

Choose an inexpensive resolution

The post-holiday season is the time of year when many people choose a New Year’s resolution to start fresh. However, many tend to buy into expensive membership programs that they slowly stop using. If your goal is to get fit, try at-home workouts instead of joining an expensive gym (especially if you’re not really going to use it). Are you looking to break your record on good reads? Get a library card and borrow books instead of buying new ones.

No matter what winter brings, the team at First Financial can help you better manage your money and reach your financial goals. Call us at 732.312.1500 or stop by any of our local branches.

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

Scams 101: What to Look Out for During the Holidays

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Now that Thanksgiving has passed, holiday shopping is in full swing. Even though inflation will affect consumer spending and shopping habits, holiday sales are still expected to reach $1.45 to $1.47 trillion this year. And as with any big shopping event, it’s expected that fraudsters will find ways to scam consumers.

Every year, scammers use similar tactics to trick shoppers. While some are more obvious than others, it’s important consumers stay aware of common holiday fraud patterns so they can protect themselves and their finances. Here’s what you should be on the lookout for this holiday season.

Online holiday shopping fraud

Malls and local department stores can be overwhelming this time of year, so it’s no surprise more individuals are choosing to shop online. In fact, e-commerce sales are expected to increase 14.3% and hit up to $264 billion. Convenience is key when it comes to shopping, but that means there’s more to be on the lookout for too – including scam e-commerce shops.

When looking for specific out-of-stock or pricey items, it may be tempting to purchase a version found on a website resembling a legitimate store. However, these scam shops can take your personal and payment information and then never actually ship the item. Fraudulent e-commerce websites are more common than you think. These fake sites mimicking legitimate stores grew 178% in 2021 with 5,300 new websites per week.

Trust your gut. If you see a site like this, do a thorough Google search to see if the company has legitimate reviews. If you see others mentioning it looks fake or is a scam, do not buy any items from their website.

Online banking scams

More than 65% of people use an online banking service to manage their finances. And as digital services have gotten more popular, scammers are using smarter con methods to access an individual’s finances or take their identity. Here are major online banking scams to look out for.

  • Loan scams: When scammers pretend to be a legitimate bank offering a low-rate loan through an email or convincing website. This is a way for them to take your information and access your bank account.
  • Wire fraud in real estate: A scam where someone will use already occurring real estate transactions to hack the company and make wire transfers to themselves. These transactions can seem legitimate and go undetected if not monitored.
  • Fraudulent checks: When an individual is used as a mule for fraudulent checks. This will look like an email or message from someone they know, asking the person to help by opening a bank account and cashing a check, and promising them a portion of the money. These checks will bounce and cause the victim’s account balance to go negative.

 Related Article: How to Avoid Banking Scams and Stay Safe Online

Seasonal job scams

With the increasing number of remote work opportunities, job seekers are vulnerable to employment scams. Typically with seasonal jobs, you might think of retail or restaurant gigs – but e-commerce roles are also becoming more popular. These scams can look like typical remote work, but contain promises that seem too good to be true. Oftentimes the company will ask you to cover work expenses upfront with the promise of paying you back through a check or transfer. With any job listing you’re applying to, it’s crucial you do extensive research on the company and assess if this is a legitimate opportunity.

Travel and vacation fraud

Holiday travel and family vacations are a desired market for fraudsters. In 2021, there were over 4,000 mentions of fraudulent airlines and hotel offers featured on the dark web. With such a large industry – travel fraud can take on many forms, including frequent flyer mileage scams, currency exchange, bogus travel agencies, rental cons, fake hotel or flight listings, and more. This is yet another way for scammers to take your information and access your finances. When it comes to travel (and any purchase), it’s important to buy from websites and companies you know and trust. If you see a package deal, do your research to ensure it’s a real offer.

You can count on First Financial to go above and beyond to help you avoid fraud and protect your finances. If you ever see something suspicious, you can always contact one of our financial experts to help you determine if the offer, website, or service is legitimate. Contact our member services department at 732-312-1500 or visit one of our branches.

We hope you have a safe holiday shopping season!

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

Budget-Friendly Holiday Shopping Tips

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The holiday season is one of the most joyful times of the year – and the most expensive. Between parties, travel, and gift giving – November through January can be a big weight on your wallet. While you may want to spend hundreds on gifts to treat your loved ones, your budget could be heavily impacted by doing so. If you play your cards right, you can still get everything you need for the holiday season at a reasonable price. Here’s how.

Take care of your bills and consider loan options

Ahead of shopping, it’s crucial to take care of all your essential bills first – like rent, utilities, and groceries. This way you know what you have left to spend on gifts and can make a realistic budget that fits within your means. If you’re working with debt that needs to be paid off, we recommend considering a consolidation loan to help reduce your monthly expenses by centralizing your high-rate credit card payments and other loans into one simple payment. At First Financial, we also offer a holiday personal loan that’s available through mid-January, to make paying for all the gifts on your list easier than ever.*

Make a holiday shopping list – and stick to it

One of the best ways to avoid overspending and impulse buying is to make a list of every single item you need to purchase. This includes who you’re shopping for, what the gift will be, about how much it will cost, which decorations you need for your home, food items you may need to buy for holiday baking, and more. Are you taking a trip to visit family or friends? You’ll also need to add travel expenses to your list and check it twice!

You don’t only need to shop on Black Friday and Cyber Monday

There’s so much pressure for consumers to go ham on Black Friday and Cyber Monday, but those big deals can cause impulse buys and have you end up spending more than you intended. Retailers can be clever and create deals that make it seem like you’re saving, but really they could be encouraging you to purchase more at once.

Instead, you should be strategic about when you’re buying your gifts. Sales happen over the course of the year, so there’s never a shortage of opportunities to buy. Refer to your shopping list and search when those items typically tend to go on sale. Of course, this method isn’t the easiest if you’re shopping last minute. Experts recommend instead focusing on finding savings on your everyday purchases around the holidays so you have more room in your budget for gifts.

Get decorations and small gifts at discount stores

You don’t need brand name items for your holiday decorations. You can find lights, garland, ornaments, cards, and gift wrap all at your local discount store for the best prices. Dollar Tree, Dollar General, Christmas Tree Shops, Big Lots, and outlet stores all have the tchotchkes and decor you’ll need to get in the holiday spirit without spending a small fortune.

Consider DIY gifts

Do you need to get gifts for your colleagues, extended family, teachers, or neighbors and are you cutting it close to your budget limit? Make something thoughtful or delicious instead. Bake cookies, make festive jams, create an ornament, paint a special wine glass, make homemade soaps or candles, put together a framed photo album or collage, thread up a scarf, or whip up your own bath bombs – the options are endless and thoughtful.

No matter how you’re celebrating this year, we’re wishing you a wonderful and safe holiday season!

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

*APR = Annual Percentage Rate. APR as low as 9.99%, terms up to 24 months, minimum loan amount is $500, and maximum loan amount is $2,500. Loan payment example: A $1,000 Personal Loan financed at 9.99% APR for 24 months, would have a monthly payment amount of $46.14. Actual rate will vary based on creditworthiness and loan term. Subject to credit approval. One holiday loan open per member. Refinance option for prior holiday loan is available, see credit union for details. Maximum dollar amount able to borrow is based on creditworthiness and loan term. A First Financial Federal Credit Union membership is required to obtain a 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.

How to Keep Holiday Shopping from Draining Your Finances

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If you’re stressed and money is a worry this holiday season, you’re not alone. According to a recent survey, 61% of Americans worry about extra spending during the holidays. Last year, 1 in 3 consumers went into debt after the holidays. Half of those consumers took 3 months to pay their holiday spending back, while others needed 5 months to pay it back.

Keep reading to find out a few ways you can financially prepare this year, and soften the blow to your budget.

Be sure to set a strict holiday budget

The first thing you want to do, is see if you can figure out how much you spent last year during the holidays and look at the gifts, food, and decorations you bought. Did your shopping last year leave you financially strapped and did it take multiple months to pay off? If so, you’ll want to rethink this year’s spending.

Create a gift idea list and approximate costs for this year. If you can’t afford the grand total on your monthly income after your necessities are paid (housing, utilities, food, gas, etc.) you will need to reconfigure your list. You also don’t want to stray from your list, once it’s done it needs to be done – don’t keep spending money on extra items.

Think of ways you might be able to cut back this year – do you really need to buy gifts for every person in your family or for all your friends? Perhaps in a larger family or a group of friends you can suggest doing a Secret Santa with an affordable purchase limit. This way you’re only buying one gift instead of multiple. In your group of friends, can you skip giving each other gifts and just go out to dinner or have a potluck meal together at someone’s home instead? These are all ways to keep your holiday spending budget down.

Take a look at your regular spending habits

In November and December you might need to cut back on your regular entertainment or dining out expenses in order to put those funds toward holiday gifts. How often do you go out to eat, stop at the nearest drive thru for a seasonal coffee, or use delivery services like DoorDash? These purchases can really add up. Try to cut back or cut them out altogether during the holiday season, and use that money toward your gift list instead.

The same goes for other entertainment expenses. Take a look at your subscription and streaming services – how many services are you paying for and are you even using them during such a busy time of year? Maybe pausing them for a month or two will pay for another gift on your shopping list.

Add to your monthly income

Do you have any extra availability on nights or weekends to pick up a part-time job for the holidays? Depending upon where you work, you may even gain an employee discount to help you save a little on gifts you can buy. You’d also be able to bring in additional income to help you afford holiday expenses.

Do your research on sales and discounts

Black Friday and Cyber Monday are coming up, but many retailers will also offer sales and promotions all season long. Be sure to research the retailers you plan to purchase from this year, follow them on social media and sign up for their emails. A lot of times, signing up for emails or texts gets you a first-time enrollment discount too. If you know you’d like to purchase gifts from a particular store, check your email in the morning and see if they have any promotions, coupons, or discounts going on that day.

Don’t forget your rewards credit card

Do you have a rewards credit card that offers cash back for purchases during the year or offers merchandise and gift cards? Login to your account before you start shopping for gifts. If you have money you can redeem for cash back, you can use these funds to buy gifts on your list. If your rewards credit card has a merchandise catalog you can redeem points earned for or merchant gift cards, cash in and you might be able to check some more off your gift list!

Our First Financial Cash Plus Cards offer cash back, merchandise, retailer gift cards, travel experiences and more – through uChoose Rewards. Learn more and apply today!**

Plan ahead for next year

It’s never too early to start saving money. If you don’t want to feel stressed about the holidays again next year, look for ways you can start saving now. For instance, at First Financial we have a Holiday Savings Account which can help you save for all your holiday expenses during the year. This account will allow you to have money deducted from each of your paychecks and sent to your Holiday Savings Account. Come next October, it will have accrued for you all year long and be available for you to use.

Don’t let the holiday season become stressful or a drain on your budget. With careful planning and saving – you’ll find you can afford the extra expenses this time of year often brings, and help spread some holiday cheer at the same time!

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

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. Click here to view full Rewards First program details. Some restrictions apply, contact the Credit Union for more information.

 **APR varies up to 18% for the Visa® Cash Plus 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. 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. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan.