It is easy to get carried away as you shop online, filling your virtual cart with item after item and spending real money in the process. But there are also ways to beat the online merchants at their own game, starting with the ten money-saving tricks listed below.

1. Download a savings code finding app

Online retailers routinely publish money-saving codes, but seeking these codes can take a long time. Downloading and using a targeted app will help you find the best codes, saving you money in the process.
 

2. Buy discount gift cards and use them online

Several websites sell gift cards at a discount, and buying them could save you 10%, 20%, or even 30% or more. You can even purchase online gift codes that can be used at your favorite retail websites and make your dollars go that much farther.
 

3. Shop with your accumulated credit card points

If you have credit card rewards, you may get more bang for your buck by using them online. Look for special offers that let you use points in exchange for additional discounts and savings.
 

4. Research price protection policies

Speaking of credit cards, the plastic in your wallet may provide additional protection against future price drops, so check out those programs and sign up. In addition, you could get money back via statement credit or cold hard cash should the price of your purchased items fall later on.
 

5. Abandon your cart

Retailers have a vested interest in having you complete your purchases, and they often reach out with additional enticements to close the deal. Adding items to your cart and then abandoning the proposed purchase could get you those extra savings.
 

6. Become a new customer

When you visit a new online retailer for the first time, you may see offers designed for first-time customers. It could be a free shipping offer, a percentage off in exchange for your email address, or even a gift with purchase. Being new has its perks, so take the retailers up on their special offers.
 

7. Look for online coupons

You do not have to go through the newspaper to find some great coupons; there are plenty of money-saving offers online. Some coupons are offered by the manufacturers or by the retail outlets themselves, but they could save you a great deal of money no matter where they originate.
 

8. Sign up for the loyalty club or program

Most grocery stores and online stores offer loyalty programs. If joining the store’s reward club requires opening a credit card, this could adversely affect credit scores, so be cautious. You may have to pay a premium for some, but many are free to join. By signing up, you’ll receive members-only discounts that automatically get deducted at checkout. Wouldn’t it be nice to get free shipping on your purchases?
 

9. Check out resellers for cut-rate deals

Resellers are popular online outlets, and finding them could save you a lot of money. Some resellers specialize in returned and refurbished merchandise, while others focus on overstocks or slightly damaged goods. Just be sure you understand the guarantees and refund policies of these resellers; they are likely to be more restrictive than those of traditional online retailers.
 

10. Add items to your wish list

If you have time to spare, try adding the stuff you want to an online wish list. Many retailers will reach out when prices drop, enticing you to purchase your wished-for items and saving you money in the process.

Shopping online is undoubtedly convenient, with fast and often free shipping and a massive selection of merchandise at your fingertips. But buying online is not always the lowest priced option, and there is no guarantee that you will get the best deal. So before you start, do research, and compare prices. And if you want to save money and enjoy the convenience of online shopping, the tips listed above may help get you started.

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Therefore, if you are having financial trouble, contact your lender immediately. Don’t wait until you have missed a payment or two. Depending on the state you live in, the lender may not need a court order or give advance warning to repossess the vehicle. In some cases, a lender may repossess after just one missed payment.

Before the vehicle is repossessed

You may be able to afford the payments by decreasing your expenses or increasing your income. Review your spending plan carefully to see if there are any areas where you can cut back, or consider obtaining a second or part-time job to add to your income.

If you can’t make spending plan changes that will enable you to afford the payments, you have a couple of options:

• You can contact your lender and ask for assistance.
• If you can get more than you owe on the loan, you may choose to sell the vehicle.
• You may give the vehicle back to the lender. This is called a voluntary repossession. Not only can it save you the repossession fee, the lender may also agree to waive the deficiency balance and not report it as a repossession on your credit report. (Get these promises in writing!)

Do not be afraid to contact your lender. In almost all cases, they don’t want the vehicle—they want you to repay the loan. The earlier you make this contact, the better. If you wait until after you have missed a payment, they may not give you a break.

Now that you’ve looked at your cash flow and know what you have to work with, you can begin to negotiate. Explain your situation: whether it is temporary or permanent, and how much money you have (if any) to go toward the payment. Your options for resolution may include:

• Making no or reduced payments for a period of time. When that time frame is up, you either increase your future payments until you repay the balance due, or add the amount you owe to the loan and make extra payments at the end.
• If your credit rating is good and the value of your vehicle is greater than the loan balance, you may be able to refinance the loan with a better interest rate or longer term. For example, if you have two years left on your contract, you may be able to get a new loan where you have five years to repay, which will reduce the payment because of the longer time frame.

Neither of these options is guaranteed. When you took out the loan, you promised to make the payments as agreed. However, it does not hurt to ask, and if you have a long and positive relationship with your lender, you may very well be able to work out a deal.

After the vehicle is repossessed

If you are unable to make an arrangement with your lender and do not make your payments, eventually they can take the next step and hire someone to repossess the vehicle.

Once that happens, you may have a few options. Depending on your state and the contract, you may have the right to reinstate the contract (pay all past due installments, including late fees and costs the lender has incurred in repossessing and storing the property), or redeem the car (pay off the whole debt for the car in one lump sum, including late fees and costs the lender has incurred in repossessing and storing the property.) Not all states include these options, nor do all contracts, so you will want to check with your lender on what options may be available to you after a repossession.

If you are unable to reinstate the contract or redeem the car, the lender will then sell the car at auction. They will notify you of the auction date, and you may attend and bid on your vehicle.

Whether you or someone else buys it, however, you will be responsible for the deficiency balance if the vehicle sells for less than the loan amount. A deficiency balance is the difference between the amount that you owed on the loan and the price the vehicle sold for at auction – plus repossession, storage, and auction costs.

This deficiency balance is an unsecured debt. Some lenders may sue for this sum, while others may forgive it. If the lender does forgive it, the IRS will consider that amount income, and will assess tax due.

Summary

Dealing with a vehicle payment problem quickly, knowledgeably, and aggressively is very important. If you are having trouble making your payment, don’t wait until the “repossessor” is at your door; contact your lender as soon as you can.

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Prepare for the unexpected

Planning ahead is key to minimizing the financial impact of a natural disaster. Learn how to safeguard your finances before an emergency happens.

Recover financially after a disaster

Rebuilding after a disaster takes time and careful planning. These resources will guide you through financial relief options and strategies to get back on track, including managing debt and communicating with creditors.

Protect yourself from scams and fraud

Disasters can leave people vulnerable to scams and fraud. Learn how to recognize and avoid predatory financial schemes.

The post Natural Disaster Toolkit appeared first on Kaiperm Credit Union.

The Down Payment

The down payment will be the most significant outlay of your pre-purchase costs. The rule used to be that you needed to put down 20% of the purchase price, and you would obtain an 80% mortgage. Today, homebuyers can buy a home with as little as three to five percent down. If you do put less then 20% down, you will probably have to purchase private mortgage insurance, which will cost you between .5% to 1% of the loan amount until your equity reaches the full 20%. Keep in mind that the more you put down, the less your mortgage payment will be.

Earnest Money

Earnest money is a cash deposit you make when you submit your offer, which proves to the seller that you are serious about wanting to buy the home. Your real estate broker will deposit the money into an escrow account, and if your offer is accepted, it will be applied towards the down payment. If the offer is rejected, it will be returned to you. Typically the earnest money deposit will be about two percent of the price of the home.

Closing Costs

Closing costs include all fees required to execute the sale transaction, such as attorney fees, title insurance, appraisals, points, and tax escrows. Typically these fees are paid up front. The average cost is three to five percent of the purchase price.

Post-purchase Reserve Funds

You may also need to prove to the lender that you have some reserve funds to protect against potential cash flow problems. This not only is assurance for the mortgage holder, but is also for your peace of mind. Post-purchase reserve funds should be at least two to three months’ worth of housing payments. This money is recommended to be in a savings account and accessible without penalties for early withdrawal (though money in a retirement account can also be counted toward the reserve requirement).

Cost Breakdown

So how much money will you need to come up with to buy a home? The actual figure depends on many factors. You may have to save more or less for the same home depending on current interest rates, whether you get a fixed or an adjustable rate mortgage, repayment terms, and your credit rating. Other expenditures you may want to save for are landscaping, immediate repairs, redecorating, furnishings (particularly if you are moving into a much larger space), and moving expenses.

Example for a $300,000 Property:

20% Down payment $60,000
3.5% Closing costs $10,500
3 Month reserve fund* $5,625
Total estimated pre-purchase costs $76,125

* $1,875 per month for Principal, Interest, Taxes and Insurance. Example based on a 30-year fixed mortgage, 6% interest, $2,436 annual property tax and $2,796 annual homeowners insurance.

Want to review the costs for a different property price? Check out our Mortgage Qualifier calculator.

Educate yourself

Obtaining high quality, objective home ownership education is essential for first time homebuyers. The Department of Housing and Urban Development (HUD) can put you in touch with the nearest housing counseling professional in your area by calling (800) 569-4287. You will learn how to develop a reasonable savings goal and time frame, how large a mortgage you qualify for, and the approximate price range in which you should be looking. You will also be given feedback about your credit score, and what you need to do in order to make improvements. Suggestions may include increasing income, paying down debt, closing unused accounts, paying collection accounts, correcting errors, and making timely payments for a specific time period.

Review your spending plan

Analyze your current financial position by reviewing all assets and liabilities. Do not overlook any source of funds. Include all checking and savings accounts, CDs, stocks, mutual funds and savings bonds. Retirement funds such as a 401k or an IRA can be counted toward the reserve requirement. You may even be able to borrow against your 401k plan and use the proceeds toward the down payment (check with your human resources department for details and restrictions).

Prepare a cash flow spending plan to determine how much you can realistically save each month. You may choose to sacrifice some expenses or delay the purchase of non-essential items in order to meet your monthly goal.

Save effectively

Some good techniques for effective saving include:

• Set up direct deposit with your employer, where a portion of your income is siphoned directly to a savings account. What you don’t see, you don’t miss.

• Track your spending. Awareness leads to diligence and thrift.

• Get the family involved. It is easier to save when everyone is excited and working towards the same goal.

• Tape a photo of the home or type of home you are saving for on the refrigerator or computer. It will be a constant reminder of your objective.

Ultimately, saving for a home is a choice. If you find your savings plan to be unfeasible, consider extending the time frame.

Conversely, if you really want to stick with the original time frame, you may want to buy a home that has a smaller purchase price—and buy “up” later. The idea is not to abandon the dream, but to reassess, reorganize, and reengage!

The post Saving for Homeownership appeared first on Kaiperm Credit Union.

Increase retirement plan contributions by 1% (or more).

Most people want to retire someday. If you’re one of them, vow to make those later years more financially comfortable. Raising retirement contributions by 1% in the year to come is a good starting point. Of course, it can always be increased as the year progresses, but starting with 1% is an easy thing to do.

Add $50 (or more if possible) to emergency savings each paycheck.

Sometimes the smallest goals may be the easiest to reach, so vow to set aside $50 from every paycheck. Automate the process by using direct deposit to a savings account or move the funds manually each month.

Choose one bill a month and negotiate it down.

The ability to negotiate with a cable company, internet service provider, phone company, and more may improve your finances in the coming year. Choose one bill a month, pick up the phone and negotiate to get fees and rates reduced.

Fine-tune or create your budget.

Hopefully, your budget is already in place. If not, now is the time to create one. If you have a budget, make a resolution to fine-tune it even further. Make adjustments that create a higher level of control over expenses and income.

Improve your job skills.

A great way to improve finances for the coming year is to strengthen one’s earning power. Take a class, enroll in community college, attend a seminar, and do other things that will help to earn more money. Better job qualifications may result in additional promotions.

Interview a new financial planner.

There is nothing wrong with shopping around, even if a current financial planner is providing good service. Getting a second opinion from another financial planner is one smart way to see the options available.

Record or update the information for all online account logins, keep them somewhere safe and let a loved one know where they are.

If death or incapacitation occurs, loved ones will be unable to access financial accounts without the correct information. Do them a favor by recording the information and keeping it in a safe place that they can access.

Review all insurance coverage.

Insurance is not a set-it and forget-it kind of thing, and an annual review should be on everyone’s to-do list. Making sure the proper insurance coverage is in place should be part of the review process. Removing unnecessary coverage may result in monthly savings that can be used elsewhere.

Set up an estate plan.

Make this the year to finally set up an estate plan. Having an estate plan in place is one of the best things someone can do for loved ones. It’s just a smart way to provide financial protection for family members.

Invest in good health.

Last but not least, make the promise to focus on good health and well-being throughout the year. Exercising more, eating right, and taking care of oneself should always be a priority. The positive financial impacts of better health are numerous.

Making resolutions is a common activity. As the calendar rolls over and the old year gives way to the new, people everywhere will be looking for ways to improve their lives, and that includes their finances. The ten resolutions outlined above may be a way to enjoy a better today and a better future.

The post 10 Money Smart Resolutions for Any Year appeared first on Kaiperm Credit Union.

Common phone scams to be aware of include:

• The "Grandson" Scam: Posing as a relative in distress and asking for immediate cash.
• Fake Bank Representative: Claiming suspicious account activity, needing “verification” of your account details.
• Government Impersonation: Posing as Social Security, the IRS, or some other agency in order to demand money or personal information.

Red Flags to look out for:

• Pressure and urgency to take action immediately.
• Threats of severe consequences if one does not comply, such as legal problems.
• Requests for money transfers, or other sensitive information like Social Security numbers, PINs, and credit card numbers.
• Odd language, miscommunication, or discrepant information.

How to Protect Oneself:

• Stop and Think: Never do anything because of pressure from a caller.
• Verify the Caller: Hang up and then call the institution's official number or person to verify any call.
• Take Counsel from Someone: Discuss this mysterious call with someone close, like family members, friends, or siblings that you can trust.
• Protect Your Data: Never disclose personal information, passwords, or any form of authorization by telephone.
• Be Tech-Savvy: Never install apps or software at someone's request; it may give them remote access to your device.
• Transfers to Avoid: Never withdraw or transfer money at the urging of a caller.

Your Safety Matters to Us

If you think you may have been the victim of fraud, contact Kaiperm Credit Union immediately at (925) 939-5626. Let's stay vigilant and stop these scammers together!

The post Stay Alert: How to Protect Yourself Against Phone Number Spoofing Scams! appeared first on Kaiperm Credit Union.

Here's what you need to know to stay safe:

Impersonation Scams

Fraudsters may call pretending to be from Kaiperm, attempting to verify transactions. They may request confidential information, especially your online banking login information. If any person contacts you requesting your Kaiperm login information, know that it is a scam. Kaiperm will not ask for any:

• User ID
• Password
• Any of your login information

Phone and Text Scams

Scammers may also use Kaiperm's name to ask members for online security passcodes generated by Multi-Factor Authentication on our online and mobile banking systems. No legitimate Kaiperm representative will ever ask for your security passcodes. These passcodes protect you—keep them confidential.

Spoofed Caller ID

Fraudsters can spoof caller IDs, which would display a valid Kaiperm phone number, making it appear that the call originated from us. If you receive a call from what appears to be our official number and the caller requests any of your login information, hang up and call us directly at (925) 939-5626.

What to Watch Out For

Kaiperm will not ask you for:

• Online/Mobile Banking login and/or Password
• Full Social Security number
• Your card PIN or CVV number
• Security Questions and/or Answers
• Multi-Factor Authentication Passcode and/or Security Codes

Any request for this information is a red flag.

What to Do If You're Targeted by a Scam

• Report the Message: Forward the message to 7726 (SPAM)
• File a Complaint: You can report the incident at ReportFraud.ftc.gov
• Contact Kaiperm: If you suspect fraud of any kind, please call/text us immediately at (925) 939-5626 or email us at info@kaipermcu.org

Stay alert and safeguard your financial details; ensuring your security is our top focus.

The post Watch Out for Fraud Schemes Affecting Kaiperm Members appeared first on Kaiperm Credit Union.

]]> https://www.kaipermcu.org/blog/child-care-options-that-wont-leave-you-crying/?utm_source=rss&utm_medium=rss&utm_campaign=child-care-options-that-wont-leave-you-crying Thu, 15 Aug 2024 22:05:37 +0000 https://www.kaipermcu.org/?p=5826 Certain line items on your spending plan you may feel fairly comfortable skimping on, like paper towels or toothpaste. The supervision of your offspring likely isn’t one of those areas, though. Getting the best care […]

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]]> Certain line items on your spending plan you may feel fairly comfortable skimping on, like paper towels or toothpaste. The supervision of your offspring likely isn’t one of those areas, though. Getting the best care for your child means shelling out major cash each month, then, right? Not necessarily. Check out these childcare options that won’t force you to empty your child’s college fund in the process.

Family or close friends

The idea of having your adult or teen loved ones looking after your little loved one(s) can be very comforting. Plus, it’s typically less expensive than traditional childcare. Do your best, though, to make the caregivers not feel like they’re being taken advantage of. That can cause the situation to turn sour quickly and leave you back at square one.

Local low-income childcare programs

If your income level qualifies you, certain city, county or state programs may be available to help you get access to special childcare programs. Check with your local social services office to learn more.

Co-ops

More and more babysitting or childcare cooperatives are springing up in response to the high costs of traditional daycare. The savings over regular daycare can make all the difference. Some co-ops let you earn points by providing childcare for others. Then you can exchange these points for the care of your own child and end up paying little to nothing. Read reviews online to find a reputable group. If one doesn’t exist, research how to create one!

In-home daycare

Often, enterprising parents will create a daycare in their home to make some extra money while watching after their own children. Once again, the savings versus a traditional daycare facility can be amazing. Check to make sure the proprietor of the home daycare has the appropriate licensing for your state. It’s also a good idea to ask for some references.

Nonprofit organizations

The YMCA is probably the best-known nonprofit providing affordable daycare but check to see if there are any other non-commercial groups in your area offering this service. Because there’s no profit motive, the costs are kept down. And often there are just as many, if not more, activities for the children to participate in.

Care sponsored by an employer, college or place of worship

All these organizations have been known to provide or subsidize childcare programs. While they may not always completely meet your needs, it’s wise to check what kinds of programs are available before you make any decisions. Keep in mind that your employer’s benefits may be offered through an employee assistance program.

Extended baby-sitting or nanny care

Before you dismiss this possibility, consider how many young people there are out of work these days. You may find that because of the competition among young people to provide childcare services, you can actually get a reliable and conscientious person to look after your child for much less than you had anticipated. Various childcare sites and apps provide a list of caregivers in your area who have background checks and come with references.

You’ve probably heard a lot of fretting over the years about the cost of childcare and the lack of affordable options. However, where there are needs to be filled, services usually spring up to fill the gaps. With some dedicated research, you might just find kind and gentle care that gives your child the attention they deserve while minimizing the impact to your bank account.

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]]> https://www.kaipermcu.org/blog/how-to-apply-for-unemployment-benefits/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-apply-for-unemployment-benefits Thu, 15 Aug 2024 22:00:50 +0000 https://www.kaipermcu.org/?p=5824 Unemployment benefits provide individuals with partial wages if they lose their job (without getting fired).  However, some folks are reluctant to accept an unemployment check. They feel it is a “handout” or somehow indicative of […]

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]]> Unemployment benefits provide individuals with partial wages if they lose their job (without getting fired).  However, some folks are reluctant to accept an unemployment check. They feel it is a “handout” or somehow indicative of a personal failing. But the bottom line is that, while you were working, you were paying into the unemployment pool. So if it helps, look at unemployment benefits as reclaiming some of your own hard-earned money.

Here’s how to get it back:

Gather the required documents/information

Before contacting the appropriate agency, gather the information that might be required of you during the application process. This usually includes the normal identifying information like social security number or driver’s license number, but can also include dates and contact information of former employment, your earnings for the past two years, and the Federal ID number for the former employer (found on your W-2 tax form). You should also have handy the bank account information for the account where you would like your money deposited, since most states offer direct deposit for unemployment benefits.

Don’t delay

Apply immediately with the unemployment insurance program for the state where you worked since it can take 2-3 weeks for the payments to start. After you find your state agency, you may be able to apply online or over the phone, depending on the state’s rules.

Keep looking for work

Be aware that should you receive unemployment benefits, you may need to provide proof that you are actively seeking work. You may also be asked to file a claim once or twice a month to continue to receive benefits, so mark your calendar accordingly.

It’s a good idea to also register with the state’s employment services office to make yourself aware of any free help you may be eligible for while you’re between jobs.

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]]> https://www.kaipermcu.org/blog/three-steps-to-finding-the-perfect-realtor/?utm_source=rss&utm_medium=rss&utm_campaign=three-steps-to-finding-the-perfect-realtor Thu, 15 Aug 2024 21:54:52 +0000 https://www.kaipermcu.org/?p=5822 When you are ready to buy a home, a real estate professional can help you sort through all the important details, financial and otherwise, involved in the home buying process. A real estate broker will […]

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]]> When you are ready to buy a home, a real estate professional can help you sort through all the important details, financial and otherwise, involved in the home buying process.

A real estate broker will be well acquainted with all the facts about a neighborhood that matter most to you. For example, you may be particularly interested in the quality of the schools, the number of children in the area, the safety of the neighborhood, public transportation access, traffic volume or some other issue that affects you or your family.

Your realtor will help you figure out a price range you can afford and search classified ads and multiple listing services for homes you’d like to see. With inside information and immediate access to homes as soon as they are put on the market, the broker can save you hours of wasted driving time. When you’re ready to make an offer on a home, the broker can also point out ways to structure your deal to save money.

The real estate broker will explain the advantages and disadvantages of different types of mortgages (though better to leave that to a loan broker), guide you through the paperwork, and be there to answer last minute questions when you sign the final papers at closing. And the best part of using the services of a real estate broker is that they’re free! Brokers receive a commission which is paid by the home seller, not you, the buyer.

Steps to Choosing a Realtor

You’ll want to start searching for a broker as soon as you decide to buy a home. Talk to several, and find someone you think you’ll be comfortable working closely with.
Here are three proven ways to go about finding a broker that’s right for you:

1. Ask for referrals:

   Many of your friends and relatives have probably bought and sold their homes through brokers. Make some phone calls and get the names of the real estate professionals they’ve had good experiences with.

2. Search by area:

   You can find out which brokers specialize in the kind of home or the area you want by looking in the Yellow Pages or your local newspaper’s classified real estate ads. Or, drive though neighborhoods and note the brokers’ names on the “for sale” signs.

3. Comparison shop:

   Talk to several prospective brokers, ask questions about the areas and types of homes in which you’re interested. Do they seem knowledgeable? And, most importantly, is their personal style a “good fit” with your own?

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