First Financial Foundation Awards Classroom Grant to Manalapan Englishtown Middle School

Posted on by
Reply

Press Release

(Pictured above: First Financial’s Assistant VP of Business Development, Karryne MacLean, First Financial’s VP of Marketing & Business Development, and First Financial’s President/CEO).

FREEHOLD, N.J. – Manalapan Englishtown Middle School seventh grade social studies teacher, Karryne MacLean, was surprised by members of the First Financial Foundation with an Erma Dorrer classroom grant for the 2018-2019 school year.

MacLean submitted a grant application to purchase the My Classroom Economy program. The program is designed to teach students financial responsibility in an engaging and fun way. My Classroom Economy will help students take part in a simulation of a real-world economic activity, learn the value of a paycheck, learn how to budget spending, pay bills, and balance bank accounts, discover the importance of saving money, and find out about paying taxes to the federal and state government.

“My students are what many middle schoolers are – always asking, Why do I need to learn this?” said MacLean. “They want to learn something they can use, something that matters. They are very bright and passionate. With this program, students will learn about economics and will take these skills with them to become successful adults. They will come to appreciate the value of a dollar and see the impact of saving and spending money wisely.”

(Pictured above: Karryne MacLean with her principal and department supervisor).

Since First Financial began with a group of Asbury Park schoolteachers back in 1936, the credit union has not forgotten its educational roots. That is why its Foundation offered current Monmouth and Ocean County educators six (6) classroom grants to use at their schools for the 2018-2019 school year.

“Education has and always will be a pivotal piece of our organization, and we’re delighted to be able to help our local educators enhance their classroom experience,” noted First Financial President & CEO, Issa Stephan.

Stephan also noted that the Foundation committee had a tough job of choosing just six winning teachers out of the numerous applications received this year. “We received dozens of heart warming essays from educators hoping to use the grant money to implement or maintain a variety of creative programs in their schools such as flexible seating, virtual reality glasses, book stands and shelving, new classroom cabinets, and interactive books and games – to name a few,” said Stephan. “We wish we were able to reward each and every one of our participants, and after extremely careful consideration we selected the six classrooms in which we felt the grant money would have the largest impact.”

A Few Things You Can Cut From Your New Year’s Budget

Posted on by
Reply

When it comes to finances, what would you like to do differently in the new year? When looking at your money and the way you spent it last year, what needs to change?

Here are a few things you should remove from your budget in the new year:

Unnecessary daily expenses: We all like coffee every day. But do you really need Starbucks every morning? It’s gets very expensive if you spend at least $5 a day buying coffee. That’s $25 each work week and $100 or more a month!  This will eventually add up to well over $1,000 at the end of the year. Instead, stock up coffee to brew at home and use the price difference to beef up your emergency fund.

Phone apps: The vast majority of phone apps are free, but for a lot of people – spending 99 cents on one here and there doesn’t seem like a big deal. If you’re one of those people who spends a lot of time on your smartphone throughout the day, then it might be time to think about which apps are costing you money (whether it’s up front or from in-app purchases).

Spending with coupons: You’re probably thinking, “this sounds like saving money!” While coupons can be helpful tools, they’re only helpful if the coupon is something you were already planning on buying. Don’t be swayed by a deal or discount if it’s not something you need. Buying things you want (and don’t need), is an easy way to throw money away. Make smart or necessary purchases, and use coupons to make those buys even better.

Kick the new year off right – think savings instead of spending!

 

First Financial Foundation Awards Classroom Grant to Freehold Learning Center

Posted on by
Reply

Press Release

(Pictured above: First Financial’s Assistant VP of Business Development, Laura Dilworth, and Principal Smith with Mrs. Dilworth’s kindergarten class).

FREEHOLD, N.J. – Freehold Learning Center kindergarten teacher of 12 years, Laura Dilworth, was surprised by members of the First Financial Foundation with an Erma Dorrer classroom grant for the 2018-2019 school year. The Freehold Learning Center is located in Freehold Borough.

Dilworth submitted a grant application to purchase Osmo’s Explorer Kits, which would help her students to explore literacy and math in a fun and engaging way. The kits include hands on playing pieces and real world creative tools, to help the students gain knowledge in number sense, reading, vocabulary, problem solving, self expression, and more.

“I teach kindergarten in a Title 1 school, meaning that the majority of our students receive free or reduced breakfast and lunch. For 2018-2019 our school received district funding to build new classrooms for Pre-K and kindergarten. This year I have a classroom with walls! In the past our classrooms had been in an open-area. My students are smart, imaginative, energetic, enthusiastic, loving and well deserving of the best education available,” said Dilworth. “I want my students to become writers, mathematicians, explorers, readers, and independent learners. The best way to ensure this is to offer them the technology and resources that neighboring districts may have. I would love my first year in a classroom with walls to include this amazing learning tool.”

Since First Financial began with a group of Asbury Park schoolteachers back in 1936, the credit union has not forgotten its educational roots. That is why its Foundation offered current Monmouth and Ocean County educators six (6) classroom grants to use at their schools for the 2018-2019 school year.

“Education has and always will be a pivotal piece of our organization, and we’re delighted to be able to help our local educators enhance their classroom experience,” noted First Financial President & CEO, Issa Stephan.

Stephan also noted that the Foundation committee had a tough job of choosing just six winning teachers out of the numerous applications received this year. “We received dozens of heart warming essays from educators hoping to use the grant money to implement or maintain a variety of creative programs in their schools such as flexible seating, virtual reality glasses, book stands and shelving, new classroom cabinets, and interactive books and games – to name a few,” said Stephan. “We wish we were able to reward each and every one of our participants, and after extremely careful consideration we selected the six classrooms in which we felt the grant money would have the largest impact.”

Broke? 5 Basically Free Holiday Gift Ideas

Posted on by
Reply

Is your credit card maxed out and your savings account dried up? Don’t let a light (or empty) wallet have you saying bah-humbug. If anything, a shoestring budget opens up unique gift giving possibilities. Instead of searching online or fighting crowds to find just the right gift over the next few days, create your own.

A jar of gratitude: Think of this as an anytime mood boost. The container really doesn’t matter as much as what’s inside – all the reasons you love and appreciate gift recipient. So, the next time your friend or family member feels down, they can reach in and be reminded of all the ways they are awesome. It’s the gift that keeps giving all year long!

Regifting: How many items do you have in the closet that still have tags on them or may even still be wrapped? How about those gift cards to the movies or restaurants you’ll never visit? To avoid any awkward moments, be sure you know who gave you the gift, and if going the pay-it-forward gift card route, verify the expiration date and that it has never been used.

Be a game master: Laugh and reminisce while learning more about your family and friends by creating games about moments shared together. Create your own version of Pictionary to play based on family stories of grandparents, great-grandparents, aunts and uncles. Or create a family version of Would You Rather, where players guess which family member would be more likely to do something. Try playing favorite songs and guessing which friend or family member is most likely to have it on their playlist. The possibilities are endless!

Create your own coupon book: Studies show that experiences deliver more lasting happiness than material items. So, fill a homemade coupon book with meaningful experiences. For some, that might mean breakfast in bed or sleeping in, for others it could mean a day of watching sports without any complaints. Give your kids coupon books to get out of chores, extra video game time and a day of yes (with the fine print disclaimer that sets a price limit for “asks”).

Recipe book: This one is perfect for the foodies in your life. Print out or make a PDF of your favorite recipes or new recipes that your recipient will enjoy!  Include notes, photos, or specific recipes tailored to the recipient’s taste to add a personalized touch too.

Never underestimate the effectiveness of a thoughtful gesture!

Article Source: Myriam DiGiovanni for Financialfeed.com

Don’t Let These Mistakes Ruin Your Credit Score

Posted on by
Reply

When it comes to your finances, your credit score can be a big deal. A good credit score can mean big savings (or costs) if you take out a loan. Good credit can also mean lower costs when you get car insurance in some states.

If you have good credit, you’ve worked hard to manage your finances and your loans in a way that shows you are responsible. You are proving that you are a solid risk. But what happens if you slip up? How much could that ruin your score?

According to the major credit bureaus, the damage affects different people differently. One late payment will affect a person with a lower score, but it’ll have a much bigger impact on someone with a really high score. That’s right: if you have great credit now, a mistake could mean a bigger hit to your credit score. Someone with mediocre credit won’t see the same impact as the result of a mistake.

Do you have an excellent credit history and want to keep it that way? Here are some things to avoid if you want to keep that credit score in the good to excellent range:

Missed Payments

The biggest factor in your credit score is your payment history. One missed payment can tank your credit score, if you have excellent credit – by as much as 100 points, according to Equifax.

The longer you wait to pay your bill, the worse the impact. If you are just a couple days late, you might not see a huge change. However, once you reach that 30-day late mark, it’s a big problem.

Do your best to plan your finances so you make your payments on time and in full. Easier said than done, but it’s much easier to stay on track if you have a budget. If you don’t, get working on one. Check out our free budgeting guide.

High Credit Utilization

If you have excellent credit, there’s a good chance you carry small balances on your cards — if you carry them at all. Best results come when you use 30% or less of your available credit each month.

But when you start charging, and that credit utilization number starts to climb, you can see changes to your credit score without realizing it. The closer you are to your limit on the credit cards, the more it impacts your score.

If you end up over the limit on your cards, then your score will suffer. Try to continue keeping balances low. Better yet, pay off your cards each month if you can and avoid paying the interest.

Cosigning on a Loan

One day you may want to help your child or sibling by cosigning on a loan. It might seem like a good idea to cosign on a loan to give them a boost, but think twice before you commit.

Your credit is on the line as soon as you sign on the dotted line, because you accepted responsibility for all payments as a cosigner. Plus, it will look like you have that debt — even if you don’t, and that can affect how much you can borrow if you were to, say apply for a mortgage on a dream home. If the borrower misses a payment, that’s on you as well. You can see your credit score fall.

And if you do cosign, make sure the borrower keeps you up to speed. It may not be ideal to make their loan payments, but at least it can save your credit if you do.

Article Source: Miranda Marquit for Moneyning.com

What Not to Buy in December

Posted on by
Reply

December may be one of the best shopping months. No matter where you look, it is easy to find either a holiday or year-end deal or discount for almost anything you can imagine.

However, despite all of the December sales extravaganzas, not everything is a great deal. Here are few purchases Consumer Reports and NerdWallet say are worth postponing until the new year.

Jewelry: If you want to really get the best deal wait until late January to buy any diamonds or jewelry. That sweet spot between the end of the holidays and just before Valentine’s Day is generally when jewelers and department stores launch their deepest sales discounts.

Fitness equipment: The very best deals are in the warmer months – however, there are usually sales available in early January if your fitness goals simply can’t wait.

Bedding: Nothing beats 50-75% off deals during January white sales. If you can, hold off until then to buy blankets, sheet sets, and towels. Imagine how much better you’ll sleep knowing you got them at such a discount!

Winter clothing: The end of January through early February is the best time of year to get your winter gear for less.

Televisions: Black Friday deals are hard to beat. If you missed them, try shopping for your next high-end television in late January/early February (for upcoming SuperBowl deals).

Article Source: Myriam DiGiovanni for Financialfeed.com