Finance

Common Money Mistakes and Ways to Fix Them

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Article highlights: - Using credit wisely prevents a majority of common money mistakes. - Financial stewardship is easier when you have a plan. - In regards to investing, a little can go a long way. Money management is about numbers. Not only should you spend responsibly, but you should also avoid these common money mistakes. Continue reading our foolproof guide below.  #1. Being scared of credit Credit, in itself, is not a bad thing. While several financial gurus advocate a cash-only system, many find starting that type of lifestyle unrealistic. Instead, consider living in moderation and using credit as a...
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How to Categorize Personal Expenses for a Better Budget

How to Categorize Personal Expenses for Better Budgeting

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Budgeting is a plan for your money’s future. While there are several choices available to manage household finances, the way you categorize personal expenses makes a difference. In essence, a simple system is more reliable. The better you can track your spending, the better you can control it. In this article, we’ll describe how to categorize personal expenses, regardless of your initial budget. Moreover, we’ll list three budgeting options so you can pick the one that’s right for you. Are you ready to talk about income and expenditures? Continue reading for full details. Three types of household budgets Each of...
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Finances of the Highest-Grossing Christmas Movie Ever Made

Financial Figures of the Highest-Grossing Christmas Movie

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It's fascinating to think that a film created in the '90s remains profitable to this day. Thirty years after its debut, streaming services report that the motion picture receives higher views than other holiday competitors. Additionally, last December, it sold over forty-thousand Blu-Ray copies in a single week. What's the name of the highest-grossing Christmas movie of all time? You've guessed it, Home Alone. How Home Alone continues to make money Disney now owns the rights to Home Alone after it completed the $71 billion acquisition of 21st Century Fox assets in March. Before that, the franchise earned money through several well-negotiated licensing agreements. It's an interesting...
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Introducing MemberPass – the simple way to verify your identity

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Achieva Credit Union strives to provide our members with secure and convenient banking solutions. We are pleased to introduce the latest technology to enhance the identity authentication and verification process, protect your personal information and reduce the risk of fraud. Introducing MemberPass™: a simple and secure replacement for identity verification questions, like your birthday and social security number, saving you time and stress when you contact our call center. This service is established through a mobile app called “MemberPass”. Once connected to the app, you’ll receive the MemberPass credential from an Achieva Member Service Advisor over the phone, allowing you...
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Spot Money Leaks with Zero-Based Budgeting

Stop Over Spending with Zero-Based Budgeting

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In response to the pandemic, companies are in search of ways to cut costs. Zero-based budgeting has turned into a popular solution for many businesses. Entities such as General Motors recently made the switch to zero-based budgeting. By initiating cuts to advertising and discretionary spending, they successfully improved their earning power. Changing their budget has not only kept them afloat but also made room for more profitable investments in the future.  The question is, can the method work for individual households? And what is the best way to start? If you need to identify money leaks quickly, consider reading more below. How...
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Balance Transfer vs. Cash Advance: What's the Difference?

Balance Transfer vs. Cash Advance: What’s the Difference?

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Credit card options differ between companies; and, it goes without saying that some have more perks than others. Balance transfer vs. cash advance vs. introductory APRs. What's the difference between these factors, and how do they help me build my credit? Increasing your credit score From the moment you accept your first credit card to the time you become inactive, your credit score fluctuates. Actions that will help your score include: - keeping a low debt-to-income ratio - preventing automatic closures of your accounts - paying more than your minimum balance If you're deciding between a balance transfer vs. cash advance, both can...
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Halloween Spending Statistics: Are you being Tricked?

Halloween Spending Statistics: Are you being Tricked?

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Pumpkins? Check. Fake skeletons? They're in the cart. What else should be on the list? Even after grabbing just a few items of gory decor, the costs quickly add up. Are you being tricked? View the most recent Halloween spending statistics to find out. Halloween 2019 expenditures A 2020 poll showed that only 58% of Americans plan to partake in Halloween activities this year. Yet, the economy expects a surge of expenditures as high as $8 billion. The figures make sense until you compare the Halloween spending statistics of 2019. Last year, 68% of Americans participated, spending $8.8 billion.  Why is there...
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Build Wealth Quickly with an Aggressive Saving Strategy

Decrease Debt Faster With an Aggressive Saving Strategy

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We all want to conserve for the future. Additionally, we strive to grow revenue and perhaps retire early. Living with financial freedom is as quintessential as pursuing happiness. Yet, none of it starts without a plan. To build wealth quickly, we must use an aggressive saving strategy. Then from there, we can make smart investments, such as paying ourselves first.    How does an aggressive saving strategy differ from a regular budget? While figures in a typical monthly budget shift periodically, an aggressive saving strategy remains static. Sometimes referred to as a radical savings plan, participants continue to increase the gap between income...
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What Part Do You Play in a Gig Economy?

What Part Do You Play in a Gig Economy?

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Roughly 70 million people have a side hustle. Self-made entrepreneurs participate in jobs ranging from photography to food delivery. In today's gig economy, what part do you play? What is the definition of a gig economy? A gig economy refers to the abundance of contract workers who take jobs on-demand. To make ends meet, people have either cut their monthly expenses or increased their income by freelancing. The "gigs" equate to small, temporary jobs, such as delivering groceries or providing a Lyft. However, it's quick, legitimate money for someone in need.  Fifty-percent of Millenials have a side hustle. Additionally, those on the...
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Money Advice From a Successful Hispanic Entrepreneur

Money Advice from a Successful Hispanic Entrepreneur

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National Hispanic Heritage Month honors the cultures and history of both Hispanic and Latino Americans. Each year, from September 15th to October 15th, we celebrate the contributions of those from Spain, Mexico, the Caribbean, and Central and South America. This article will highlight the story of a successful Hispanic entrepreneur and the journey he took to gain prosperity. Learn what this Columbian-born millionaire thinks about money, business, and of course, dancing.  Beto Perez had impoverished beginnings As the creator of the highly energetic dancing workout, called Zumba, Beto Perez retains a $30 million net worth. He is world-famous and considered...
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