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We want your financial wellness education experience to be unlike any other you've experienced before. That's why we've partnered with Balance Financial Fitness, a not-for-profit dedicated to providing financial education tools and resources free of charge to our members.

Explore the categories below and look for Financial Wellness U throughout our site to gain access to our online toolkits featuring: educational tutorials, videos, and resources that make you a more empowered consumer.

Tip of the Month:

How to Handle a Money Emergency

First things first: take a breath.

If you recently received a big bill that threatens to eat up all your available cash, you know how fast stress and fear sets in. But don’t let these feelings paralyze you. As dark as it may seem, you still have options.

So breathe deep, and get ready to meet your problem head on. Here are five helpful tactics to consider when tackling your money emergency.

1. Find immediate ways to save
You need to free up some cash—fast. If you don’t already have a budget, access your checking account statement and review your expenses. Are you spending money on things that you don’t really need? Do you eat out a lot? Have an expensive cable bill?

Tighten your budget ASAP. If it’s a true emergency, you may need to make some tough decisions, but having the extra cash will be worth it.

2. Ask a relative
Before you max out your credit cards, do you have a relative you can ask for help? Obviously, you need to pay them back in a timely manner, but the so-called Bank of Family typically has more flexible terms than most financial institutions.

But remember this—some people draw a line at mixing family or friends with finances. So make sure you have a secure relationship with the person, and be honest about your ability to repay when you ask to borrow money.

3. Use credit carefully
If putting your emergency debt on a credit card or getting a personal loan is your only option, be careful. You may get immediate relief, but high interest rates can dramatically increase the size of your debt.

4. Be wary of payday loans
Payday loans can be a quick way to access money if you have bad credit. However, like other lines of credit, they can be expensive—really expensive.

These types of loans are notorious for gouging consumers with sky-high rates. In other words, you’ll end up paying much more than your current balance in the long run. And if you miss a payment, the fees aren’t pretty.

5. Seek professional guidance and support
Remember, you’re not alone. No matter how helpless you might feel in a money emergency, McGraw-Hill FCU has a team of dedicated financial professionals who will assist you in making a financial plan. We can identify the most productive ways to save, and review the best options for paying off your debt.

Schedule a one-on-one Financial Wellness Check-Up today >>

 

Money Saving Apps*

Flipp - Far fewer people get the Sunday papers these days. But all the ads, sales, coupons, and other special offers from the Sunday circulars can be browsed with Flipp. The app covers weekly ads from some 800 retailers, including supermarkets, dollar stores, pharmacies, and big retailers such as Target and Walmart. If you add your loyalty-program numbers, some discounts will automatically be applied when your loyalty card is scanned at checkout, without any physical coupons.

RetailMeNotSmart shoppers consider the list price merely a starting point that they’ll inevitably be able to beat with a few clicks of a mouse or swipes of a smartphone. The RetailMeNot app is a must-have for savings, with promotional codes, coupons, and other discounts at 50,000-plus restaurants and major retailers, and deals for physical stores and online purchases alike.

ShopSavvyThe ultimate “showrooming” tool, ShopSavvy allows you to inspect merchandise in the store and scan the bar code to compare prices from dozens of online competitors and local stores (but not Amazon, unfortunately). The app offers special cash-back deals from major retailers, and you can set up notifications to alert you when a desired product goes on sale.

*Despite the presence of links and mobile apps listed above, McGraw-Hill FCU makes no warranty or representation regarding, does not endorse, is not affiliated with, and is not in any way repsonsible for the linked website or any content that appears on it. If you decide to visit any linked website, you do so at your own risk and it is your repsonsibility to review the terms of use, privacy policy, and any other relevant legal notices of the relevant linked website. Article Source: Time.com


Consumer Education |

General consumer awareness resources that help you protect your identity, manage your credit report, or recover from a natural disaster or recent unemployment.

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Deposits and Checking |

Managing these accounts is critical to everyday life. If you've been saving for years - gain the insight to maximize your plan. If you're just starting out, get the tools to help launch a lifetime of financial wellness.

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Loans and Real Estate |

Consumers get loans for some of the most important purchases in their lives. Buying a car, purchasing a home, or going to college. Make sure you're ready by exploring these essential tools and resources.

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Retirement Planning |

You've worked hard your entire life - it's time to enjoy a stress-free retirement. No matter your goals, these educational toolkits will empower you with the tools to enhance your financial quality of life.

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