What hobbies and savings have in common
Are you a quilter? Race radio-controlled cars? Maybe you spend your spare time gardening, painting, or collecting coins from around the world. For many of us, hobbies and special interests offer a great way to use our free time, learn more about subjects that interest us, and even unleash our creativity. Hobbies are good for us, too. One clinical study showed that time spent pursuing hobbies and similar leisure interests could lower blood pressure and reduce people’s stress levels.
January is National Hobby Month, and it’s a great time to celebrate our members’ hobbies. Two things about hobbies remind us of Indiana Members Credit Union’s family of savings programs. First, both provide a satisfying sense of accomplishment. We’re proud when we create something new, and we’re just as proud when we achieve a savings goal. The other thing is the wide range of hobbies our members enjoy. Just as there are many choices of hobbies, there are so many different ways to save. Continue reading
Savings can head off financial crises
Most people have good intentions when it comes to money. They try to be careful when buying things and look for ways to save a few dollars here and a few dollars there, believing that will put them on the right path for financial security.
What keeps them from achieving that security? Often, it’s life’s unexpected events. Just when everything is going well, the car breaks down and you discover you need a new transmission. Or you get sick and miss two weeks of work. Maybe the washing machine leaks, leading to an expensive repair and having to replace the flooring. Continue reading
Treat yourself with financial security
President Ronald Reagan is remembered for many things, but the tastiest thing he did while in office was to issue a proclamation declaring the third Sunday in July as National Ice Cream Day. That favorite summertime treat has been a part of American life since Colonial times, with First Lady Dolley Madison the first to serve it at a formal White House event. Today, our nation consumes more than 1.6 million gallons of frozen dairy treats annually.
Treating yourself to a sundae, a scoop, or a drumstick makes you feel great for a short time, but if you want a good feeling that will last for years, the best treat you can give yourself is financial security. As a member of Indiana Members Credit Union, you have access to a complete family of savings choices. That way, you can choose the savings account that fits your goals. Continue reading
When many people talk about financial security, they point to outside factors. They measure their security based on how much their employer pays them, how much they’re forced to pay in bills each month, or events that affect their finances, such as car breakdowns or health issues.
The reality is that your financial situation has less to do with outside factors like those, and more to do with choices you make. I’m sure you have a friend who is always stressed about money, but you can’t help but notice that he or she always has new clothes, buys a new car every couple of years, and travels extensively. Continue reading
Are your kids on the right track to financial independence?
For many of today’s young adults, the weakest link lies in learning the basics. According to a 2014 survey conducted by Harris Poll on behalf of Junior Achievement USA (2014 Teens and Personal Finance Survey), 40% of teens do not have a savings account, checking account, or debit or credit card, and 59% of teens do not have money management classes offered at their schools.
Achieving economic prosperity is difficult, and it’s especially hard for young people who’ve never learned how to manage money. Continue reading