Author Archives: VP of Marketing and Business Development Jessica

3 Simple Suggestions for a Budget-Friendly Halloween

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Think back to when you were a kid. What was your favorite thing about Halloween? Was it the costumes? The candy? The spooky decorations around your neighborhood? All the above? Now, think about your little ones. Which Halloween traditions excite them most? There’s a pretty good chance they love the same things you did.

That timeless trio of candy, decorations, and costumes account for more than 80% of Halloween spending. How much do people actually spend on Halloween? According to a National Retail Foundation survey, Americans spent an estimated $9.1 billion in 2017, and the number is expected to top $9 billion again in 2018.

From shopping for the newest costume to overspending on premium candy for trick-or-treaters, it’s easy to get caught up in the fright-filled fun and spend more than you intended. So, how do you give your little ones a Halloween filled with fantastic childhood memories without blowing up your budget in the process? We’ve got a few ideas.

By following these tips, you can save money on candy, decorations, and costumes and help your kids enjoy a Halloween that’s a little less trick and a lot more treat:

Candy

Based on the survey mentioned above, a whopping 95% of Americans plan to buy candy this Halloween. If you’re looking for easy ways to save, steer clear of the brand name selections and buy in bulk. If you’re trying to be that house, the one all the kids talk about because you’re the ones that give out the “good stuff,” be sure to scan local sales and be patient. Stores will often discount candy on Halloween morning. A little last-minute shopping can give you the chance to get more for your money.

Decorations

Hosting a Halloween party for neighborhood friends? Instead of rushing out to a specialty store and buying elaborate displays and mass-produced trinkets, add a personal touch by letting your kids design decorations of their own. Your children will love showing off their handiwork to all their guests! Need some suggestions to get your family’s creative juices flowing? The home decorating experts at HGTV can help you scare up a great idea!

Costumes 

When it comes to finding great deals on Halloween costumes for your children, thrift stores are your friend. If you shop early enough, many secondhand stores will have a selection of costumes that were only worn once or twice before the previous owners outgrew them. If you’re getting down to crunch time and you don’t have your kiddo’s costume figured out, Pinterest is a great place to find creative DIY ideas.

Now, before you get carried away with crazy ideas about how to spend all the money you saved this Halloween, remember, Halloween savings can help ease the financial stress of holiday shopping. That’s right – once Halloween is over, there are only 32 shopping days until Hanukkah and 54 shopping days until Christmas. Now, THAT is scary!

Small Business Spotlight: The Best Auto Reconditioning Center in Neptune

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We are pleased to present a blog post which features one of our current businesses, how they got started, and how First Financial has helped them grow their business. If this inspires you to want to expand your business goals or see how First Financial can assist you further, feel free to reach out to us. Keep reading to learn more about our featured Business of the Month, Daryl Jackson: Owner of The Best Auto Reconditioning Center. 

Daryl Jackson: Owner of The Best Auto Reconditioning Center

Protect your investment with The Best! Owner Daryl Jackson has been in the car detailing business for over 40 years, and has owned The Best Auto Reconditioning Center since 2011. The Best Auto Reconditioning Center takes great pride in detailing, and recently received a five star rating on Google. Daryl’s shop on Route 35 in Neptune is friendly, knowledgeable, and always has unique smooth jazz playing in the background. Having your car washed and waxed regularly is one of the easiest ways to preserve its paint and keep it looking great! To learn more visit @BestDetailNJ on social media or thebestautoreconditioning.com. 

Owner: Daryl Jackson

Years in Business: 40+ years – 8 owning The Best Auto Reconditioning Center.

What do you love most about the business?

The thing I love the most about my business is making people happy.

What has your biggest challenge been in business?

Trying to respect other detailers and looking out for my customers’ best interest, but also making them understand that I am going to do a great job.

What do you like most about banking with First Financial?

The thing I like the most about banking with First Financial, would probably be how simple it is to do business there.

What is your key to success?

LOVING what I do!

Ready to grow your business? Call the Business Development Department at 732.312.1500, email business@firstffcu.com or stop by any branch location. Learn more about our Business Account products and services on our website.

4 Ways to Quickly Raise Your Credit Score

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1. Don’t miss a payment.

This is the number one thing that credit bureaus look at when determining your credit score. Your payment history makes up 35% of your FICO score. If you have trouble remembering to pay your credit card on time, set a reminder on your phone or automatically schedule your payment to be deducted from your account on the same day each month.

2. Pay as often as you can.

Going a step further, pay on your debt as often as you can. Just because your payment isn’t due for 3 weeks, doesn’t mean you shouldn’t go ahead and make a payment. You don’t know when your credit card company reports your balance to the credit bureaus, so try to keep your balance as low as possible.

3. Reduce your debt.

Even if you’re making regular payments on your credit card, the goal is to get it paid off. If you’re keeping a balance from month to month, you’re getting charged more interest than you should be. Try and pay off your balance each month, but if that’s not possible, keep your balance as low as you can and your credit utilization under 30%.

4. See if you can increase your credit limit.

This is more of a trick than a solution, but it can work for you. If you’ve used $950 on a $1,000 limit, try calling your credit card company and getting that limit raised to $2,000. Then you’ve got a card that’s only 50% utilized as opposed to one that’s nearly maxed out. It doesn’t hurt to at least ask!

Learn about managing your credit and reducing debt with our guide.

Article source: John Pettit for CUinsight.com

 

5 Ways to Protect Your Financial Info from Hackers

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Information breaches that would have been difficult to fathom years ago are now common. And people are rightfully worried. After all, if the federal government can get hacked and its employees’ data stolen, how vulnerable is a personal account held at a bank or brokerage?

So what actions can you take to protect yourself in what feels like an endless battle to keep your data secure? Here are five steps to consider:

 1. Diversify your passwords – and change them.

For the user’s convenience they often use the same password across multiple websites, which is a big mistake. It’s like giving an intruder a key that opens every lock. You want to make it extremely difficult for a hacker to access your sensitive information. Create unique password combinations (including letters, numbers and symbols) for each of the financial websites you log into, and establish a bi-annual schedule to change them.

2. Use an online password manager.

All of those hard to crack passwords can be a nightmare to remember and store, so utilize a reputable password manager. The best managers include password generators that create strong and unique choices. Most password managers allow you to sync your passwords across all electronic devices, making it easy to maintain multiple passwords.

3. Make life hard for crooks.

Shredding confidential documents, avoiding simple passwords, and keeping sensitive information off of unsecured channels are all effective actions. Thoroughly checking credit card statements for suspicious activity, and being aware of your surroundings when using ATMs, are security measures that remain effective. Don’t let your guard down. Learn more about preventing fraud at the ATM here.

4. Check your credit reports at least annually.

Periodically checking your credit report is a smart way to stay ahead of the bad guys, but many people don’t because of common misconceptions like the belief that you have to pay a fee to see your report, or that you must subscribe to a service.

The goal is to check for discrepancies, inconsistences and inaccuracies that might suggest identity theft. Annualcreditreport.com is a great (free) place to start.

5. Keep your guard up when it comes to emails.

Be wary of any email that requires you to click on a hyperlink to update a password or confirm confidential material. These emails are often “phishing” attempts seeking to scam you. They appear to come from familiar places such as your bank, an online retailer, or even the IRS. But – they are not legitimate, so be very careful before you open them!

It’s understandable to feel helpless in an age of smart criminals who conduct endless assaults on privacy. But simply putting the threat out of mind is not a solution or thinking it can’t happen to you. Think first because there’s harm in not knowing!

9 Things to Remember When Using Your First Credit Card

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Getting your first credit card is a significant financial milestone. After sorting through an endless array of program options and promotional offers, you made your choice, filled out the application, and saw those two magic words: You’re approved!

After the initial excitement wears off, it’s important to remember that just like your first car, your first credit card comes with a lot of responsibility. While it may be tempting to grab some friends to take the new plastic for a test drive, it’s a good time to exercise a little restraint. The financial decisions you make now will have long-term effects. It only takes a momentary lapse in judgement, to make a mistake that could follow you for years to come.

Before you start exercising your newfound financial freedom, here are a few tips to make sure your first credit card experience is a positive one:

1. Pay attention to the fine print. Even if you don’t need reading glasses, you may want to have a pair handy. The big credit card companies tend to sneak stuff in the small print. Introductory interest rates can be attractive (like 0% APR for a certain amount of time), but once those offers expire, you could be left paying higher interest on your purchases. Not to mention, if you are carrying a balance when your 0% offer expires – you could be left to pay an extremely high APR on that balance.

2. Don’t be a card counter. If you have multiple cards, it can be tempting to spend more than you intended. Also, it makes your wallet pretty large – which makes for uneven seating or a heavy purse. Simplify your life – stick to a single card, and keep the credit limit sensible.

3. Consistency pays off. This simple step will help you avoid additional interest charges, and it’s an effective way to build an excellent credit rating.

4. Always pay your bill on time. Late payment charges are usually more expensive than your minimum payment, which can make it hard to keep up with your bill. If you’re worried that you’ll forget the due date, most cards offer an automatic payment option. Use it. Or set a recurring reminder for yourself on your phone or a computer calendar.

5. It’s your budget, don’t fudge it. Try to think of your credit card as for emergencies only. Do your best to continue using your checking account or cash to cover everyday expenses. Your credit card is like that friend you call when you need help moving or a ride to the airport. There when you need it, but not to be overused.

6. Steer clear of cash advances. These advances usually charge a higher interest rate than regular credit card purchases. The convenience isn’t worth the cost.

7. Keep your monthly credit card payments to less than 20% of your income. Once your bill exceeds that amount, it becomes exponentially more difficult to stick to a sensible, reasonable budget.

8. Review your credit card statements each month. In addition to being a smart way to track your spending, regular monitoring is the most effective way to combat credit card fraud and identity theft.

9. Be honest with yourself. If you find that your spending gets out of hand, there’s no shame in putting your credit card away (or getting rid of it all together), until you correct your bad financial habits.

Credit cards can be useful tools for emergencies, and when used properly, they can help you maintain a strong credit rating. But with so many card options available today, it is essential to choose the one that’s right for you.

If you haven’t secured your first card yet and are wondering where to find a trustworthy offer, First Financial Federal Credit Union offers a variety of Visa Credit Cards to meet your financial needs. If you live, work, worship, attend school, or volunteer in Monmouth or Ocean Counties in NJ – we’ve got the perfect credit card to fit your lifestyle. Learn more here, and apply online 24/7.

*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.

5 Ways to Slash Halloween Costume Costs

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October is not just about getting that pumpkin spice fix, but also finding the perfect Halloween costume.

According to the National Retail Federation Halloween survey, Americans are expected to spend $9 billion on the holiday. Because both adults and children celebrate Halloween, 8% of shoppers plan to buy costumes for a projected total of $3.2 billion.

Here are 5 ways you can avoid feeling haunted by sticker shock this Halloween season:

Expand your store options: Don’t just limit yourself to your standard go-to’s like Walmart, Target or Spirit of Halloween. Check out Walgreens, the dollar store, Party City, TJ Maxx, Marshalls, Kohls, warehouse stores like Costco, Sam’s or BJ’s, thrift shops and consignment stores. You may be surprised by the finds and discounts available.

Take a detour from the Halloween aisle: Sometimes finding a deal on kids’ costumes means exploring other areas of the store. You really do pay more for seasonal costumes set aside for Halloween. Try checking the toy aisle for dress up outfits or the kids sleepwear section for action hero or princess options with a cheaper price tag. If your kids are into sports, take a look at the athletic/active section of the store.

Explore online deals: Check online coupon offerings found on deal sites like RetailMeNot.com or Groupon.com.

Get creative: Why not get crafty this year and make your own costumes? Or, build an outfit around a staple piece like a wizard’s cloak (dust off that graduation cap and gown), a cape or a mask. Let your imagination run wild. Maybe you could put your own twist on a popular character, superhero or villain. Just make sure your ambition doesn’t lead to spending more money (or time), to bring your vision to life.

Timing is everything: Either buy your costumes early on or just before Halloween to find the best bargains. If you don’t mind having your options limited to whatever is left, then wait until the last minute for deals on the Halloween items retailers want to move. The BEST time to buy costumes and decorations is actually AFTER Halloween. Hitting the stores November 1 will land you savings of anywhere from 50% to 75% off – perfect for next year!

Article Source: Myriam DiGiovanni for Financialfeed.com