SafeAmerica Credit Union

Walnut Creek

• By Lisa

Holiday Travel (COVID Style)

We were all hoping the world would be at a better place for holiday travel, yet the holidays are right around the corner. To that affect, it seems like ages ago when we were able to enjoy a cup of coffee at our favorite cafe, enjoy a Sunday brunch with our families, or even have our families/friends over for the holidays. It’s been unbelievable to see how businesses and communities from around the world have been affected. Still, we can use the ever-present opportunity of technology to remind each other that, as with any situation, this too shall pass.

Did You Know...

Humans are social creatures. We need to socialize in order to survive. From teaching each other different life skills, to having a sense of identity as well as belonging, the bottom line is we need to communicate with those we love to ease some of the present tension and anxiety.

Holiday Travel Using The Internet Highway

The present limitations mean holiday travel poses a greater risk for loved ones than usual, but that doesn’t mean we can’t create meaningful memories and experiences through technology. While it may seem silly at first, just remember it is all part of the experience, and more importantly, having those close to you know they are important.

Video conferencing sites can help spread positivity , much needed social connection as well as memories during the holidays.

Take The Northbound FaceTime Highway To Visit Your Family For The Holidays

All activities can be done through your preferred video conferencing sites. They essentially boil down to what is easiest to navigate for you and your loved ones. Some examples include:

- Zoom
- FaceTime through Apple products
- Skype
- Microsoft Teams
- Google Hangouts

Don’t Forget To Bring The Main Dish (Holiday Activities)

Ugly Sweater Contest

Have family and friends join your video conference with their favorite ugly sweater or you could even have them email you a photo of them in it for you to screen share with everyone on your call. The winner can receive an online gift card along with some holiday recognition.

You Can Follow Up The Ugly Sweater Contest With …

Holiday Movie Trivia

There are plenty of online sites that can provide great trivia for your family to participate in. A simple online search can set you in the right direction for any type of movie for all to enjoy. (Yes, even Frozen and Die Hard)

Movie Trivia Followed By Some…

(Insert Holiday Theme Here) Charades

Go around and have everyone act out a scene from a holiday film while others try their best to guess the film. Simple and another activity at your disposal.

Virtual Movie Theater Roulette

To begin, make sure to have everyone get their favorite movie snack in time for this event as well as sending in their favorite holiday movie title. At the time of the event, fill a jar with your choice of small holiday sweets to have your participants guess the amount or even come close, to assist with picking a person to choose a movie that was submitted. By watching the film together and having the video call, this allows everyone to share commentary on any funny or memorable parts. This process can be done weekly to go through all the submitted movies to ensure everyone gets to watch their favorite holiday movie.

The Holidays Have A Very Distinct Look, Feel And Sound, So Toss In A…

Virtual Jukebox (Online Playlists)

Using a similar format to the Virtual Movie Theater Roulette, have everyone send in a few songs and you can either have participants guess who sent in the tune OR what the name of the tune is.

You Have Options To Structure It All Exactly How It Would Best Fit You and Your Loved Ones…

Chubby Elf

Think of “chubby bunny” but with a holiday twist. Have participants munch on their favorite holiday snacks while reciting a line from a film, ALL while having everyone else guess the film.

Take The Exit (Video Call Ending)

Close off the online hangout with some recognition. This year has affected events we took for granted, so make sure to recognize any accomplishments that would have been celebrated in person by giving an online shout out. It’s all about making each other feel special, as we all know everyone can benefit from this.

 

• By Lisa

7 Tips to Get Smart About Debt

Information brought to you by our partner, GreenPath Financial Wellness

Our finances are intertwined with our everyday lives and affected, debt can easily become a problem. It's best to stay grounded and identify where the "leak" is coming from, why the "leak" is happening and what to do next to seal the "leak".

1. Get an idea of what you are currently spending.

To know where you’re going, you have to know where you’re coming from. Are you spending more than you make? Do you have excess money each month that you could be putting toward your debts?

2. Take a look at your spending habits.

Once you have a full financial picture of your monthly surplus (or deficit), figure out what your spending habits are and how you might change them to get out of debt. Maybe you’re spending too much on subscription services – or realize you’re spending more than you allotted for groceries each month.

3. Prioritize expenses and identify areas where you may be able to save.

Once you have an idea of where you are spending and why, see if there are areas where you can cut back.

Hold yourself accountable, and check back in on your spending habits.

4. Check the plan.

Plan your paychecks and check back to see how your actual spending compares with your plan. Use a highlighter to compare your paycheck with where your money needs to be distributed to and make any adjustments needed.

5. Automate everything.

Set up direct deposits and automated payments so that you don’t miss due dates and get hit with a late fee. Use alerts and overdraft protection to help you avoid mistakes.

6. Choose a debt payoff strategy that works for your situation.

Many people consider paying the minimum on all debts and focus extra payments on one debt at a time. When you pay one account off, they redirect the monthly payment to the next one in line, adding it to the minimum they were paying already. This way, each time you pay off one debt, your payment on the next one gets bigger. This could be a good approach for you to consider.

7. Look into a debt management plan.

Depending on your situation, there may be options for you to get out of debt more quickly. If you have high-interest credit cards or other unsecured debts, a debt management plan could be just what you need to get out of debt for good.

A debt management plan works with your creditors to bring your accounts current, lower interest rates, and eliminate fees. This means that more of your payment goes toward reducing your account balances. It can help you pay off debts faster and save money on interest.  An added benefit is that once the debt management plan is established, diminishing collection calls and creditor balances help reduce worry and stress about your debt situation.

Learn More

• By Lisa

What is A Debt Management Plan

Information is brought to you by our partner, GreenPath Financial Wellness

Learn how to pay off your debt with GreenPath! They have built one of the nation’s most trusted debt management programs. With more than 60 years of experience supporting people to eliminate debt.

If you want to get out of debt and reduce financial stress, you may find debt relief through the GreenPath Debt Management Plan. If it makes sense for your situation, we will contact your creditors to propose mutually agreeable debt repayment terms. A Debt Management Plan may:

  • Stop collection calls
  • Lower interest rates
  • Lower monthly payments
  • Waive late fees and over-limit fees

A Debt Management Plan is designed to pay off the entire amount that you owe, usually within three to five years. It can help you pay off credit card debt faster, and save money on interest charges.

The first step is a free debt counseling consultation

When you call, you’ll talk to a NFCC-certified credit and debt counselors.  We’ll review your financial situation together, and make a personalized plan to get your finances back on track. We’ll explain the options and give you the information you need to make a choice that works for you.

 How debt management plans work

The debt management plan consolidates your debt into a single payment. Each payday, you automatically deposit money into your GreenPath account, and we use that money to pay on your behalf. We may be able to arrange lower interest rates and monthly payments with your creditors, so you can pay off debt faster and save money. Once creditors agree to the program, collection calls stop and you see your balances start to go down.

When you sign up for a debt management plan, you have an entire team of GreenPath people behind you. You’ll get information and support when you need it. We’re here for you at every step of the journey.

You can call them anytime during business hours to reach a debt counselor if you need advice, or to talk to your Client Success Team about your account. You also have instant access to account information through their online debt management portal.

You also have access to a community of others who are paying off their debt in a private online group. This positive community of support is a great place to ask questions, share tips, and get friendly moral support to make your journey easier.

GreenPath believes in their clients 1000%, and we love nothing more than seeing you succeed.

Help is here

Last year, GreenPath helped more than 65,000 households pay off over $200 million in debt. We do this by putting people — you! — at the center of our work. Our counselors receive training in compassion and empathy. It’s our job to listen without judgment, and to treat our clients with respect.

Learn More

• By Lisa

What to Know About Financial Hardships

Financial stress can be a very uncomfortable issue to deal with. The process of regaining financial control seems like a steep climb but as with any problem, finding guidance with your financial hardship can provide the framework towards regaining control.

If you're struggling to pay your bills every month, you might be dealing with a financial hardship.

What is a Financial Hardship?

A hardship can be defined in a few different ways and usually depends on a number of factors.  Typically, a hardship refers to a situation in which you cannot keep up with your financial obligations due to a circumstance that is beyond your control.

What Causes a Financial Hardship?

There are many reasons for a financial hardship and more often than none, they happen to be a result from an uncontrollable life circumstance. Some of the common reasons for a financial hardship include:

  • Loss of job
  • A cut in hours or pay
  • Divorce of death of a spouse
  • Injury or medical illness
  • Unexpected events/family matters

Common Signs

There are also a handful of identifiers that can serve as a warning that you may be headed for financial distress such as:

  • Not making the minimum payments on financial obligations
  • Continuously making late payments
  • High credit utilization (high credit balances)
  • Using services as payday loans and/or cash advances
  • Using credit to pay for daily essentials
  • Lack of emergency funds

Acting on the warning signs will serve as a preventative strategy that will allow you to plan, organize and eliminate the possibility of falling into a financial nightmare. Simply doing the corrective measures of the previous mentioned warning signs will place you into a better financial position.

Financial Hardship

What To Do

If you experience a sudden change of income, it is often recommended to create a baseline budget that will cover all of your priorities. Writing out your priorities, in order of importance, and labeling them as such, will provide understanding on which priorities have a certain amount of flexibility. While it is never easy, making the needed budget cuts will allow you to keep the baseline income flowing into your priorities.

Speaking to your lender/financial institution about your specific circumstance will help determine the best solution for you and can provide some financial relief when it’s needed most. There may also be other programs and resources in your community that could be taken advantage of.

SafeAmerica Can Help

As a member of SafeAmerica Credit Union we have resources available to assist you.

Begin the process of a healthy and stress-free financial way of living through our nonprofit partner, GreenPath Financial Wellness. They can assist with:

  • Creating a debt management plan
  • Financial Counseling
  • Housing Services
  • Student Loan Counseling
  • Credit Report Review
  • Financial Education
GreenPath Financial Wellness

Financial hardships are deemed as a last resort resource and are not structured to be supplemental to any variations of money saving methods. To increase the possibility of being accepted for a financial hardship, one should be able to provide details and/or documents from resources they took advantage of before making contact for a financial hardship.

Important Links

GreenPath Financial Wellness
Foreclosure Prevention Strategies
Financial Hardship Assistance

If you need insight, guidance or a plan of action with your SafeAmerica Credit Union loan, our collections department is available at CollectionsDepartment@safeamerica.com.

• By Lisa

How to Plan for Back to School Expenses in a Time of COVID-19

Information brought to you by our partner, GreenPath Financial Wellness

As families track the latest news about their communities K-12 reopening plans, it’s clear this is a school year like no other – especially as families plan for back to school expenses.

Will students return in the classroom? Will a K-12 student school year involve a mix of online and in-class learning? Or will school districts mandate that the school year be online, virtual learning?

A national organization that monitors retail activity shows that households tentatively plan to spend a record amount to prepare students for school and college. If districts aren’t providing laptops, many families will buy laptops and computer accessories in anticipation that at least some classes will take place online because of the coronavirus pandemic.

The retail survey shows that parents with children in elementary school through high school anticipate spending an average of $789.49 per family, topping the previous record of $696.70 they said they would spend last year.

While it isn’t a typical year when it comes to back to school shopping tips, with the right information, families can reduce their stress.

6 Steps to Plan for Back to School Expenses

The good news is that with a little planning, you can successfully manage additional expenses even in the midst of a pandemic.

As you plan for back to school expenses, shared here are six steps you can take.

1. Check in with your school district.

Whether preparing for online or in person, be sure your spending plan reflects what technology tools might be needed. Watch the news or local websites to keep tabs on what your district is planning for back to school. Check with your district if they will be providing school-aged children with laptops or other technology.

2. Think about your spending plan.

The pandemic has changed household finances, given unexpected loss or changes in monthly income. GreenPath’s budgeting worksheet is a great way to get a handle on the situation in terms of tracking income against expenses. Once you have a good handle on your current financial state, determine how much you truly feel comfortable spending.

3. Is it a “want” or a “need?”

Prioritize your needs list. What do you need to buy before school starts and what can you purchase later?

When thinking about virtual learning, does the family already have access to high-speed internet and a family computer, or are these items that need to be purchased? Will your district provide needed technology? What really needs to be replaced or what can be reused?

If new clothes are a need, watch for sales or online stores offering the most competitive pricing.

4. Avoid impulse buys.

Whether heading to the computer store to support online learning or buying a new backpack, stick with the plan.

Make it a family affair. Write out the shopping list together. If the kids want something that isn’t in the budget, offer them the option to chip in their own money.

Look at school shopping as an opportunity to get kids more involved or even suggest spending more of their own money on back-to-school supplies.

5. Watch those credit card balances.

If you use a consumer credit card, keep a close tab on the balances. This can be a simple process of assembling printed receipts in an envelope after each shopping outing. That way you’ll have a clear reminder of the credit card balances as they are incurred.

6. Consider teaming with a helpful resource.

Families looking for additional support before they head to the stores this fall have another option.

GreenPath’s professional, caring Financial Wellness Experts will assist you in assessing your financial situation and guide you to create a personalized plan to achieve your goals.

GreenPath works with thousands of people each week to pay off debt, improve credit, and lead a financially healthy life. When looking ahead to an uncertain school year, it’s helpful to start a conversation with a GreenPath a Financial Expert.

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