Category Archives: Financial Advice

How to Choose What Financial Goals are Worth Setting

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save-saving-housing-house-money-cash-e1394569718602Everyone needs financial goals in order to be efficient and successful, but determining which goals to prioritize can be difficult. If you don’t set enough goals, you may not save enough money. However, if you set too many goals it can be difficult to achieve all of them, and repeated failure can get you off track.

It’s best to prioritize how important different goals are in terms of the immediate future, as well as your long-term hopes and dreams. Once you know what is the most important to you, you can figure out which goals you should focus on. Survival should be your first priority; you need to pay for your basic needs first. After that, you can focus on longer-term goals. Consider these five questions as you set your next financial goals.

1. Do I need it to survive?

Obviously, you need food and shelter to survive. Your necessities have to come first. This means that you will need to have enough money to pay your rent and utilities, purchase groceries, and receive medical care when you need it. There are other things that may be necessary depending on your personal circumstances. You will probably require a job, and you might need a car to get there. You also will need clothing, so your first goal should be to afford basic necessities. If you can’t do that yet, then your other financial goals need to wait.

2. Is the goal too big or too small?

Setting goals that you can’t possibly achieve will only bring failure, and can potentially make you depressed or frustrated. If you can barely afford rent for your current one-bedroom apartment, you probably shouldn’t make a goal to purchase a four-bedroom home this year. But you can make long-term goals that include purchases you couldn’t possibly make now. Your income should increase as you become more experienced in your job field, and you can certainly make long-term goals that factor in your anticipated income.

You also shouldn’t spend too much time on goals that are really small. While setting some small goals may build your confidence (such as saving for a new dress or suit), setting too many small goals will pull your priority away from bigger goals.

3. How can I achieve my goal?

You can increase your chances of achieving your goal by taking extra steps to make it happen (outside of just making the goal itself). If you want to purchase a house, but you need to save for a down payment, start small. It’s good to start off by setting up a savings plan, finding out if you qualify for assistance, and cutting back on expenses. You don’t have to purchase a home (or a new car, or whatever else your big goal entails) right now. Make a plan for just how you can obtain your goal.

This is also true of other financial goals, such as moving up at work and making more money. If you want to move up, focus on the ways that you can improve your work performance and set yourself up for a promotion. Consider educational classes if necessary. You also might consider relocating if it will help you advance in your career. Taking proactive steps to achieve your dream will help you get there, and also may make you feel more accomplished and on-task.

4. Am I thinking about the future?

Vacations and fancy clothes can be wonderful, but you need to think about your future, too. Besides basic necessities, you should also prioritize your retirement savings. According to the United States Department of Labor, knowing your retirement needs, contributing to your employer’s retirement savings plan, learning about investment principles, considering using an IRA, and knowing about your social security benefits, can all help you plan for retirement.

Complete the necessary research in order to determine how much you might need to retire, and also to determine where you might want to live, which will affect how much money you need. You also need to consider your future health, and how it might impact your finances.

To get more information on planning for your retirement and schedule your complimentary appointment, contact First Financial’s Investment & Retirement Center at 732.312.1500, or email mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com. 

5. How much time do I need?

This question factors into many of the other questions on this list. One of the best ways to achieve your goals is to set realistic ones, and to figure out when and how you will achieve them. Determine how many years you think it will take you to save enough for the type of home you want, or how much you need to save each year (and for how many years) to be comfortable in retirement. If you want to save for a vacation, consider how you will have to alter your current spending, and for how many months you will have to do so.

Short-term goals often take less planning, but it will still help you to determine how much time you need to achieve those goals. It’s easy to tell yourself that you can save enough for a trip in a few months, but actually sitting down and determining how much you need to save each month, and for how long, will help prevent overspending.

Here at First Financial, our first priority is helping you achieve your financial dreams by defining your dream goals and lifestyle, empowering you through financial education, building your wealth, planning your retirement, and managing your risk. Establishing financial goals is an important part of saving enough money and being ready for the future, and we are here for you! Stop into any one of our branches and sit with a representative to have an annual financial check-up of your finances and portfolio. 

*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.

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The 4 Easiest Ways to Budget

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corruption conceptBudgeting strikes fear (or annoyance, or disgust) into the hearts of many people, because we tend to see budgeting as something that is tedious, complicated, and keeps us from having any fun. But budgeting doesn’t have to be a scary word. Here are four ways to make budgeting as easy and painless as possible.

1. Automate It

To make room for savings in your budget, pay yourself first. Set up automatic deductions from your checking to your savings account each pay period so you’re not tempted to spend money you’ve earmarked for your emergency fund or retirement goals.

To avoid late fees and having to keep track of numerous due dates, set up automatic payments for as many bills as you can. The amount due will be deducted straight from your bank account when it’s due, and you won’t need to worry about mailing anything out by a certain date – or paying for postage.

Remove the potential for human error as much as possible, and you’ll find budgeting is already a lot easier!

2. Use Budgeting Tools

You don’t have to go it alone, especially if you’re not mathematically or organizationally gifted.

There are tons of great programs and software out there that can help you create a budget, track your spending and identify areas for improvement. Some are free, and some require a purchase — but they’re all waiting to make budgeting a breeze.

Check out free websites like Mint, that let you view all your accounts at a glance, or use an old-school worksheet to help you track your spending. Whichever tool you choose, make sure it feels intuitive and easy-to-use to you.

3. Adopt an 80/20 Budget

If the idea of tracking every purchase and reviewing your budget line-by-line makes you crazy, you may want to adopt an “anti-budget” or 80/20 budget.

Simply put, an 80/20 budget is where you put 20% of your income into savings automatically. This money becomes untouchable, and you have the other 80% available for the rest of your monthly expenses, such as groceries, utilities, and rent. If you find your monthly expenses go over 80%, then it’s time to trim some fat and find spending areas you can reduce.

You can also adjust the “anti-budget” to fit your own personal financial goals. If you’d like more savings to fall back on, try a 70/30 budget. If you want to aggressively pay down debt, you may want to consider a 60/40 (or even a 50/50) budget until you’re out of the hole.

4. Try the Envelope System

Another alternative is the envelope system, made famous by financial guru Dave Ramsey. If you’re a visual or tactile person, this could be the system that helps you finally see what budgeting looks like in action.

The envelope method involves taking all of the discretionary cash you have for the month and placing it in — you guessed it — envelopes that represent each of your budget categories.

If you can only afford to spend $300 a month on groceries, you place $300 in the “groceries” envelope. Being able to see how much cash you have left for the month helps you stretch out your spending, and if you use up what’s in the envelope before the month is over, you’re forced to make do with what you’ve already spent. (Maybe it’s time to get creative with leftovers, “shop your pantry,” or eat ramen noodles for the rest of the month).

If you’re the sort who tends to swipe a card and not really think about what you’re spending, the envelope system could be a great, old-fashioned way to get back to basics.

Did you know First Financial offers free budgeting seminars throughout the year?  Be sure to check our online event calendar to find out when the next one is, and register online.  Plus, when you attend – you’ll receive a computerized budgeting spreadsheet to use and easily plug in your expenses each month!

4 Times You Should Ignore Good Financial Advice

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finances-e1303266500480It’s so great when someone gives you advice that helps you make a positive change in your life. Sometimes, we can truly learn from the experience and the tips that others provide. However, there are other times when we need to learn to ignore the advice given to us by other people. While it’s often well-meaning, sometimes the advice that other people give can lead us down the wrong path entirely.

Especially when it comes to financial tips and advice, sometimes people become set in a certain way of thinking, or they believe a financial myth because it has been told to them by someone else. It’s important to make your own financial decisions. There are certain financial tips that are either out-dated or conditional. Some tips are just wrong all together.

Here are four financial tips that you definitely should ignore, and how to spot poor financial advice.

1. Avoid credit cards. Credit cards can be dangerous. According to Lifehacker, they make it easy to spend money, we can easily feel peer pressure to use them because so many other people do, and of course, the interest can really add up.

However, credit cards are not all bad, as long as you use them responsibly. If you can afford to pay the balance off immediately, there is no harm in using a credit card. There are actually several positive aspects of credit cards, including the fact that most credit card companies protect you against fraudulent charges (whereas if someone steals $200 in cash, you probably are not getting it back). Also, many credit cards come with excellent rewards.

Did you know First Financial has a lower rate VISA Platinum Cash Plus Credit Card, great rewards and no annual fee? Apply today!*

2. Save first. It is absolutely essential to set savings aside each month toward future purchases, an emergency fund, and your retirement. If you don’t save now, you risk not having enough saved later. However, as important as prioritizing savings is, it isn’t always the right decision for each person. If you are drowning in debt, but you are setting aside hundreds of dollars each month toward savings (while your bills lay unpaid), you are probably making the wrong choice. There’s no use having savings if you are in a bad financial situation, and it’s getting worse because interest and late fees are piling up while you focus on your savings.

We offer a number of Savings Account options, click here to learn about our various accounts and to find one that fits your needs.**

3. Stick to your budget. Many Americans have a hard time sticking to their budgets (and many don’t even have one), and in general, you should try to stick to your budget. However, you actually need to be flexible when things change. If you go from a two-income household to a one-income household, and you are still living on a budget that was designed when you had a lot more money available, you could set yourself up for a lot of debt.

At the same time, when you get a raise, it’s appropriate to change your budget (even if you are just adding the extra income directly into savings or your retirement fund). Circumstances change, and inflation causes prices to go up, so it isn’t fair to yourself, or even responsible, to expect to have the same budget all the time. While in general you should try to stick to your budget each month, sometimes you need to reevaluate it.

Don’t forget to utilize our great financial calculators – they’re free and a great tool to help you get your finances on track.

4. Don’t take a risk. This is another piece of advice that is often well-meaning, but is given by people who usually are more interested in saving everything than taking risks. While it is important to save, unless you take risks, you probably won’t get very much interest back on your savings. People disagree about the best way to handle various financial decisions, but you have to determine what is right for you. You might lose a lot of money by taking a chance on a risky stock, or you might end up rich. Although diversifying your portfolio is often the smartest choice, it might not be the right choice for you. If you want to start your own business, but others advise you against it because of the risk of failure, you have to decide if the risk is worth it to you. There is very little financial advice that fits every single situation.

According to Fox Business, if you are trying to figure out if the advice you are receiving is bad, there are certain signs you should watch out for. If the person giving you the advice has a stake in your decision, they may not be presenting a fair picture. If you didn’t solicit the advice, that could be another sign to watch out for, and they might be trying to scam you. You should also avoid accepting advice that follows the one-size-fits all idea (like don’t take a risk).

Financial advice can be extremely helpful, whether it comes from a financial advisor or even a trusted friend or family member who really wants to help. Just make sure that the advice is really worth listening to. Also, remember to go with your gut. If someone suggests a financial move that you don’t feel good about, don’t do it. Whether the other person is intentionally leading you down the wrong path or not, your intuition might be trying to warn you.

Take advantage of the Investment & Retirement Center located at First Financial. If you have questions about retirement savings or investments, set up a no-cost consultation with our advisor to discuss your brokerage, investments, and/or savings goals. Call us at 732.312.1500 or stop in to see us!***

*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.

**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. Accounts for children age 13 and under are excluded from this program.

***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:

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8 Things You Should Do With Your Money Before the New Year

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Checkbox 3DThe last thing we want to do right now while preparing for the upcoming holidays, is probably think about money. That’s what New Year’s resolutions are for, right? While it’s tempting to put off your finances until the New Year, you might miss some critical financial deadlines or lose the opportunity to save extra money. An end-of-year financial checklist gives you the opportunity to make changes and save before the clock strikes midnight on December 31st.

Here is a year-end financial planning checklist. Use these last few weeks to get your finances organized and under control — a great way to close out the year.

1. Look over your spending.

Ideally, you’ve been tracking your spending all year. What were your spending patterns? Did you go over or under in a certain category? Take a look at what you actually spent vs. what you had budgeted for. Do you need to change your expectations? Review your financial goals from last year and consider whether they will work for you in the coming year and make the necessary adjustments. If you paid off a loan, see if you can redirect that money into a paying off another debt or adding to a savings or retirement account. Don’t let the money get eaten up by miscellaneous expenses. If you don’t have a budget, start one now. Mint.com, Level and Check are all good free budgeting tools with features to help you create a budget from scratch, track your spending, and set financial goals.

2. Order your free credit report.

You’re entitled to one free yearly credit report from each of the three major credit reporting bureaus: Equifax, Experian, and TransUnion. Get a report now so you know where you stand before heading into the new year. Look over your report and check for errors or negative information. If your credit history could use some improvement, make this the year you get back on track.

3. Get your credit cards in check.

That means checking your balances, rates, and cash back or other rewards. Make a large payment if you are carrying debt and have extra money to do so. If you can’t pay down a chunk of the debt you accumulated this year, create a debt repayment plan that will get it down next year.

4. Make an extra mortgage payment.

Making just one extra mortgage payment each year can cut your loan down by years, saving you possibly thousands in interest. Also, making an extra mortgage payment means you may be able to claim an extra month of mortgage interest deductions this year. If you can’t afford an extra payment, try to make January’s payment before the first of the month. If the payment gets credited before January 1, it may still be tax-break eligible.

5. Review your insurance plans.

Look over your health, life, homeowner’s/renter’s, and car insurance plans. Do you need to adjust your coverage, premiums, or add any dependents? Do you need to purchase new coverage, like life insurance or disability? Did you get married, have a baby, or buy a house? Do you have any changes coming in the new year that you need to plan for? Those life events all trigger insurance changes.

PS: If you answered yes to any of those questions, you might need to make changes to your W-2, too.

6. Automate everything.

It’s time to finally automate your bills and savings. The more you can automate, the easier your finances will be. Automating helps you pay your bills on time and maintain a regular savings plan. This is also a good time to cancel any automatic subscriptions you aren’t using: video and music streaming, magazines, premium subscriptions, etc.

7. Make a tax-deductible charitable contribution.

If you are going to itemize deductions on your tax return, consider making a charitable contribution to a cause you believe in. The donation must be made to a qualifying organization and the tax benefit only saves you a fraction of what you donate, but you’ll be supporting a good cause to end the year.

8. Use your Flexible Savings Account.

If you have a Flexible Spending Account for healthcare or other qualifying expenses, now is the time to submit any outstanding claims. This is also the perfect time to make any year-end doctor appointments.

If you get your finances in order at the end of the year, it can only help you get more organized for the coming one!

Don’t forget to stop in to have your annual financial checkup before the year ends, or to kick off the beginning of the new year! Here at First Financial, we encourage our members to come in at least once a year to sit down with a representative at any one of our branches to make sure you are currently placed in the correct Rewards First tier for you, and also that you are receiving the best value, products and services based on your financial situation. Give us a call at 732.312.1500 or stop in to see us today!

4 Personal Finance Myths: Busted!

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A computer generated image of a chain with a broken link.Financial myths are a force behind one of the biggest threats to your financial future – yourself. Here are some personal finance myths that could be costing you money and endangering your future security.

Myth 1: Two incomes are better than one. Truth: Today’s families often have two incomes out of necessity. They make more money than a one-income family did a generation ago. But, by the time they pay for the basics – an average home, a second car to get the second spouse to work, child care, health insurance, taxes, and other essentials, that family actually has less money left over at the end of the month to show for it.

The assumption in the myth is that with two incomes you’re doubly secure. But if you’re counting on both of those incomes, then you’re in serious trouble if either income goes away. And, if you have two people in the workforce, you have double the chance that someone will get laid off, or that someone could get too sick to work.

Housing prices are rising twice as fast for families with kids, and a big reason is dwindling confidence in public schools. People are bidding up the prices on homes situated in school districts with good reputations. The only way for a typical family to afford one of those homes is for both spouses to work. Average mortgage expenses have risen 70 times faster than the average family’s primary income, so, families are required to keep two incomes.

When two incomes are a necessity, the question of whether two may be better than one is moot. Busting this particular myth means understanding the true financial stakes involved in deciding to have children and raising a family, based on your personal situation.

Myth 2: Owning is always better than renting. Truth: The money you pay for rent is a necessity like your other living expenses. Do you consider the money you spend on food to be wasted? What about the money you spend on gas? Both of these expenses are for items you purchase regularly that get used up and appear to have no lasting value, but are necessary to carry out daily activities.

If you own a home, unless you paid cash for it, you pay a mortgage (and it’s likely as much as you’d be spending on rent), plus other expenses like property taxes, insurance, maintenance, etc.

The choice between owning and renting is often a financial toss up. Busting this myth means understanding the most important reason to buy a home. Decide how badly you want to settle down for the long-term and invest in a permanent residence.

First Financial offers a number of great mortgage options, including refinancing – click here to learn about our 10, 15, 20, and 30 year mortgage features and see what a good fit for your home is!*

First Financial also offers a Mortgage Rate Text Messaging Service so you can receive updates on our low Mortgage Rates straight to your mobile phone. You can subscribe to our Mortgage rate text message service by signing up for text alerts, and receive instant notification when our mortgage rates change.**

Myth 3: A near-perfect credit score will get you the best loan rate. Truth: Every expert, credit bureau, and loan officer has a different opinion as to where the threshold for excellent credit lies. In addition, “near-perfect” can be a relative term. Do we mean “near-perfect” as in “excellent,” or as in “perfect,” which doesn’t exist? Different loans and lenders have different standards.

Generally, any credit score in the mid-700 range and up is considered excellent credit, and will get you credit approvals and the best interest rates. But at this high end of credit scoring, extra points don’t always improve your loan terms much. Sure, the higher your score, the better. But even an extra 50 points in this range doesn’t always help you get a better rate on your next loan.

Those extra points can serve as a buffer if a negative item shows up on your credit report, however. For example, if you max out a credit card, you can get dinged 30-50 points. An extra 50 points would absorb the hit and minimize the possible damage.

So, there really is no “magic number” when it comes to credit scores. Busting this myth means understanding that more than just your score is taken into consideration. To get the loan you want, you may need a high credit score, no negatives in your credit file, and adequate income to afford it.

Myth 4: You need to earn more to save more. Truth: Your ability to save is defined by your discipline to sacrifice and set aside a percentage of your spending. Your income level is not really a factor. And no matter the amount, the younger you start saving, the more years you’ll have for your money and any interest earned to work its magic. You may decide you want to invest some of your savings too – talk to a financial planner and decide if investing in stocks and mutual funds might be a good option for your savings goals.

So, savings is not some arbitrary amount – but a discipline. Busting this myth means understanding that you need to sacrifice some of your spending now for financial security later. You simply have to decide how important that security is to you.

Consider how these personal finance myths and others like them could be contributing to money problems you’re experiencing now, and pose more serious trouble for your future.

“Busting” these myths offers the answers you need to take action and change your behavior with money – and assure your financial security.

Article Source: http://www.nasdaq.com/article/why-these-4-personal-finance-myths-perpetuate-money-problems-cm396086

*APR = Annual Percentage Rate. Subject to credit approval. Credit worthiness determines your APR. Rates quoted assume excellent borrower credit history and are for qualified borrowers. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. Higher rates may apply depending on terms of loan and credit worthiness. Minimum mortgage loan amount is $100,000. Available on primary residence only. The Interest Rates, Annual Percentage Rate (APR), and fees are based on current market rates, are for informational purposes only. Rates and APRs listed are based on a mortgage loan amount of $250,000. Mortgage insurance may be required depending on loan guidelines. This is not a credit decision or a commitment to lend. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. See Credit Union for details. A First Financial membership is required to obtain a Mortgage and is open to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

**You must check the Text Message Signup box when registering in order to receive rate change text messages.+ If you do not receive an automated confirmation message after enrolling, please text “Yes” to (201) 808-1038

+The Text Message Signup box must be checked in order to receive text messages. Standard text messaging and data rates may apply.

Personal Finance: 5 Areas You Shouldn’t Ignore

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piggy bank savings - top viewPersonal finance is not just something to think about now and then, such as when you review your bank statement – it affects your life on a daily basis. Ask yourself how well prepared you are in each of the 5 personal finance items below, and how you might be able to do better.

1. Credit and Debt

If you have significant credit card debt, you should pay it down as quickly as you can. Fortunately, it can be done. One good strategy is tackling your highest-interest-rate debt first. Switching to paying for most things with cash instead of credit cards can also help by reining in spending.

Beyond that, you need to strive for a spotless credit report and strong credit score. Check your credit report regularly, have errors fixed, and build a high score. Healthy credit is a key aspect of personal finance.

2. Insurance

Yes, you might have home insurance, car insurance, and health insurance, but how about life insurance if anyone relies on your income? How about renter’s insurance if you rent your home or apartment? This personal finance category also includes umbrella insurance that offers excess liability protection, which insures you against lawsuits. Disability insurance can protect your income stream in case you become unable to work. Long-term care insurance can support you if you need to be cared for at home or in an assisted-living facility for a while. It’s well worth exploring, as you’re more likely to need it than you might expect, and buying it while you’re relatively young can save you money in the long run.

3. Real Estate

This personal finance category includes buying a home, owning and maintaining one, and selling it at some point. To do well in this category, you need to maintain a strong credit rating and qualify for a low-interest-rate mortgage. You might opt for a 15-year mortgage to build equity faster. It’s important to take good care of your home but you should also think twice before embarking on expensive remodelings that might not let you recoup most of their cost.

It’s also smart to consider refinancing your mortgage at some point. Conventional wisdom suggests that it’s smart to do so when you can snag an interest rate about 1 percentage point lower than your current one. That’s not enough of a reason though, be sure that you plan to stay in the home long enough for the savings to outweigh the closing costs.

If you’re looking to purchase or refinance a home, First Financial has a variety of options available to you, including 10, 15, 20, and 30 year mortgages. We offer great low rates, no pre-payment penalties, easy application process, financing on your primary residence, vacation home or investment property, plus so much more! For rates and more information, call us at 732.312.1500, Option 4 for the Lending Department.*

4. Taxes

Smart taxpayers make smart tax decisions all year long. Here’s a tip that not enough people take advantage of: Set up and use a flexible spending account throughout the year. It lets you put aside pre-tax dollars to pay for qualified health care expenses.

5. Estate Planning

This is another critical area of personal finance. Your estate plan might include a will, a durable power of attorney, a living will, advance medical directives, beneficiary designations on financial accounts, and possibly a trust. Don’t assume you have everything covered with just a will, as you might be able to save your loved ones a lot of headaches, heartache, and money with some more planning and preparation. A living, or revocable trust, for example, can let you avoid the sometimes long and costly (and public) process by directing how your property is to be handled before and after your death.

There’s a lot more to learn about each of these personal finance topics. Spend a little time on them, and you may find that they’re not so boring, and the prospect of saving a lot of money (and being able to spend it now or in retirement) is exciting. And if you need help, don’t be afraid to consult a financial professional.

Questions about retirement savings, estate planning, or investments?  If you would like to set up a no-cost consultation with the Investment & Retirement Center located at First Financial Federal Credit Union to discuss your savings goals, contact us at 732.312.1500 or stop in to see us!**

*APR = Annual Percentage Rate. Subject to credit approval. Credit worthiness determines your APR. Rates quoted assume excellent borrower credit history and are for qualified borrowers. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. Higher rates may apply depending on terms of loan and credit worthiness. Minimum mortgage loan amount is $100,000. Available on primary residence only. The Interest Rates, Annual Percentage Rate (APR), and fees are based on current market rates, are for informational purposes only. Rates and APRs listed are based on a mortgage loan amount of $250,000. Mortgage insurance may be required depending on loan guidelines. This is not a credit decision or a commitment to lend. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. See Credit Union for details. A First Financial membership is required to obtain a Mortgage and is open to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

**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:

Article Source:  http://www.fool.com/how-to-invest/personal-finance/2014/08/10/personal-finance-5-areas-you-cant-ignore.aspx by Selena Maranjian.