TCU Savers Club

Vacations: Save Before You Set Sail

Your mind wanders to crisp-blue skies and romantic sunsets, salty ocean breezes, and sand between your toes. Then your telephone rings and you snap back to reality. There are no blue skies or ocean breezes, just your computer monitor staring you down. Do you need a vacation? 

Budgets are tight, but with some disciplined planning and money-saving tricks, that dream vacation can become a reality.

Be careful with plastic. Don't finance your entire vacation on your credit card. That doesn't mean it's off limits, but relying solely on plastic will only lead to stress and heavy interest charges down the road. 

Save, save, save. Try to set aside some of every paycheck in a TCU Vacation Club account. Decide how much you want to have on hand to start your trip. Divide that total by the number of paychecks until vacation, then save that amount in your vacation account. If you are not able to save this much, take a look at your spending habits. Are there places you can make cuts? 

Plan ahead. Booking airfare, hotels, and rental cars in advance could save you a bundle. Consider using public transportation to save cash on a rental car or taxis. And, travel midweek for the best deals. A TCU Travel Representative can also help you plan ahead.   

Talk to TCU Travel. TCU Travel Representatives have been to destinations all over the world so wherever you want to go, chances are they've been there. And don't forget, if you have a TCU Visa® Check Card, you can DOUBLE your rebate when you book travel services through TCU Travel!

Save money and secure your dream vacation. Let TCU Travel help.

Parents: How Your College Kid Uses Credit Cards

In times of economic downturn, college students are turning to credit cards more than ever before, according to Sallie Mae's 2009 National Study of Usage Rates and Trends.

Here are some of the results: 

• Undergraduates are carrying record-high balances—an average of $3,173. Seniors graduate with an average balance of $4,100;
• Eighty-four percent had at least one credit card, and half the students have four or more; 
• Less than one out of five students pay off balances each month;
• Ninety-two percent of students charge textbooks, school supplies, or other education expenses; and 
• Food (84%), clothing (70%), and cosmetics (69%) are also frequently bought on credit.

Despite high credit card usage, more than one-third of respondents have never or only rarely discussed credit card use with their parents. These same students were also more likely to charge tuition or be surprised at a high balance.

Parents: You can help. A large majority of those surveyed expressed interest in more financial literacy education. You can provide guidance throughout middle and high school to help better prepare your student to manage money in college.

Talk with them about money, and start with the basics. Focus on the importance of saving and responsible spending. Encourage them to use direct deposit for their pay checks—a savings account at TCU can help them get started.

If your student does use a credit card, stress the dangers of piling on too much debt. Put the real price tag into perspective--calculate with them how much interest piles on to that new pair of jeans if they do not pay their balances off each month. Also, remind them to keep their credit scores clean by carrying a low balance relative to their available balance, paying all bills on time, and regularly checking accounts for unusual activity. 

Responsible money management is important at all life stages. TCU Representatives can help. Stop by or call us at 800-552-4745.

Keep Your Old Car Running

Maybe this was the year you'd been planning to buy a new car—or at least a newer used one. But after the latest review of the family budget and a look around at the state of the economy, you've decided that you really need to keep that old car running awhile longer and in good condition. 

Here are some steps that will help you to keep rolling.

Make sure you have a good mechanic
With an older car where the warranty has expired, you're almost certain to get the least expensive repairs at an independent auto repair shop. In addition to asking family and friends for recommendations, one of the most stringent certification programs is run by the AAA, based in Heathrow, Fla. You can visit the Web site at www.aaa.com and click "Auto repair shops" for a list of recommendations. Membership in the Automotive Service Association is a good sign. 

If you're considering a new auto shop, start with a simple job like an oil change and see if you have a good experience.

Follow the maintenance schedule
Even if you never have paid much attention to the owner's manual for your car, it's time to give it a careful reading. It will set out what maintenance tasks should be done at various mileage levels. Whatever interval the manual stipulates for oil changes should be fine for most drivers. Stick to the lower mileage interval if you drive in harsh conditions. But don't ignore the often more expensive but less frequent changes of other fluids—brakes, transmission, and power steering. 

Drive carefully
How you drive your car also can affect its longevity. For instance, in cold weather, letting your car warm up while idling can damage the catalytic converter, says Mike Calkins, manager of the AAA-approved auto repair program. Instead, he recommends to start driving about 30 seconds after you start the car, but go easy on the gas pedal for a mile or two until the car warms up. Also, avoid sharp acceleration and sudden braking. 

If you have found an auto shop you trust, urge the staff to look over your car carefully whenever you come in for an oil change or other routine procedure. If your mechanic can spot a developing problem, it likely will cost you a lot less to fix now than later.

Consider starting a savings account set aside for potential auto repair. If you don't end up using it for repairs, it can become your down payment and reduce the size of a credit union loan for your next new car. The professionals at TCU can help you set up a savings plan for car repairs. Call us at 800-552-4745 or click here to visit our website.

Talking to Your Kids about the Economy

It's a good idea to find out what your children have heard and are thinking about the economy, and to reassure them if necessary. You may see warning signs that they're concerned. "They may act withdrawn, or different from normal," says Francie Alexander, chief academic officer at Scholastic Inc., New York.

"You can say, ‘It looks to me like you're worried; let's talk about it,' " she continues. "Start by listening or asking questions, and then share information appropriate to their ages and stages." 

It's important to be factual, and to speak at their maturity levels—which aren't always the same as their age levels, adds Rick Kahler, CFP, president of Kahler Financial Group in Rapid City, S.D. "Obviously you'll tell a teenager more than a four year old, but that's why you start by asking questions, so you can build on what they already know."

They need to know the situation and that you have a plan. You might say, "Mommy's company ran out of money and she's looking for a new job," says Alexander.

"You don't need to say much more to younger children, but they're comforted when they know what's going on, what might change in their lives—such as not going to the movies for a while—and that you're working on it," she says.

Children who are a little older and more mature may ask further questions. Answer them directly, but without complicated theoretical discussions that could cloud the issue.

Teenagers will generally appreciate more details. "I might tell them there'd been company-wide lay-offs, that jobless numbers were going up in the community, and that I was concerned," Kahler says.

Teaching children how to use money is an important skill in today's world. "If you haven't done that, take this crisis as an opportunity," advises Alexander. TCU has free resources and programs that can make it easy.

Copyright 2009 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

'Tis the Season of Weddings

Did you know in 2008 the average wedding cost around $22,000?  To some that might not seem like a lot to spend on such a special day but to others that can be a lot especially when the bride and groom are paying.  Here are some tips on ways to save when planning for that big day.

• Start off by making a realistic budget for the wedding.
• Make a list of what you want for the wedding and then rank the importance of
• Shorten the guest list.
• Negotiate; you’ll be surprised how many people are willing to negotiate price on catering, flowers, entertainment, the hall, etc.
• Get crafty!  If you like to do crafty projects then why not make your own wedding invitations, flower arrangements or programs, not only will it save money but also makes it more personalized.
• Buffet style is less expensive than a sit down dinner.
• Alcohol can get pricey, so either have a cash bar or just wine/beer.

A Penny Saved is a Penny Earned

Who really likes getting change anymore? It can be such a hassle to find a place to put all those coins, especially pennies. One place you can start putting those pennies and other loose change is in a piggy bank. It’s a great way to unload unwanted change if you don’t like carrying it around.  Just place a jar or bank in a centrally located area in your home so it can be a reminder to some one that walks by it to drop off their change. Then after an allotted period of time or when the bank gets full, take it to the nearest TCU or Coinstar to find out how much you earned. You’ll be surprised how much it can add up in the end. This can also be a fun activity for the whole family in seeing how fast or how much you get in the bank. Then with that extra money you can start a Vacation Club Account or college fund at TCU.

It’s Off to School We Go

It feels like summer has just begun but going back to school is right around the corner. Here are some tips on how to save when back-to-school shopping.

• Try to re-use school supplies from previous years. You’ll be surprised what supplies you can use over again.
• Write out a list of the needed supplies to help stay on track when shopping.
• Go to dollar stores. They usually carry the same supplies but are less expensive.
• Be on the look out for back to school coupons or other sales.
• Late July is when most the back to school sales are taking place.
• For college students, look at www.half.com for deals on cheaper text books
• It’s never too late to look/apply for scholarships for the following semester and year too.

Take your kids to TCU and have them open up a Treasure Chest Club or Teen Club Account. Have your college bound students look into student loans/checking or using their TCU Visa Check Card at school. For more information visit www.tcunet.com or your local TCU Service Center.

Find an adventure in your own backyard

With this economy everyone seems to be cutting back on a lot of things, especially vacations. Everyone needs a vacation even if it’s just for a weekend. There are many opportunities for you take “mini” vacations close to home with a small budget. Here are some examples:

• A Zoo
• Site seeing in Chicago or Indianapolis
• The beach (Lake Michigan)
• Camp at a nearby state park
• Pack a picnic and spend the day at a local park
• Visit local attractions your community has to offer
• Beat the heat with a matinee at the movies or play
• Check out different counties’ 4-H fairs or other fairs and festivals 

There are many places through out Indiana, Illinois and Michigan. These destinations provide the feeling of being in a new place but are only a short drive away. Check out www.tcutravelagency.com, www.in.gov/visitindiana/, www.puremichigan.com or www.illinois.gov/visiting for more on these spots. If you have some extra money to splurge on a bigger vacation, here are some ideas to save on those trips: 

• Book flights and hotels in advance so you can get the best deals.
• If you can, traveling during the week is the best time for cheaper flights and hotels.
• Book a hotel room with a kitchenette so you can buy groceries instead of eating out every time.
• Many Walt Disney World® vacation packages have great deals for families
• Travel to a destination during its off-season

Contact TCU Travel to help make your travel plans! Remember, it’s never too late to start saving for spring break or next summer’s vacation. Contact TCU to open a holiday/vacation club account and start saving today.

Q-pon or Cou-pon?

It doesn’t matter how you pronounce it, the bottom line is, coupons save you money! We all remember mom cutting coupons out of the Sunday newspaper flyers or pulling out an envelope full of them at the store. Well we’ve got to admit–like always–mom is right. With more and more people watching how they spend, clipping coupons is a great way to save money on necessities.  That is why they have coupons, to help you save money! If you take a few extra minutes after reading the Sunday paper to flip through the coupons, you can find surprisingly good deals on items that you need. Or you can find printable coupons online at www.shortcuts.com or www.coupons.com.
 
Once you have collected the coupons try to use them at stores with discount shopper cards for even more savings. These cards that are usually free and the cashier can usually sign you up quickly. They are offered at most grocery stores (Kroger’s, Martins), convenience stores (Walgreen’s, CVS) and many other department or chain stores. Most stores have weekly savers’ advertisements in the newspapers on certain items when you use your card. So plan your shopping day to pick up those items at these stores.  
 
Another way to save some money is use your TCU Visa® Check Card as credit instead of debit on purchases. It still takes money from your checking account and TCU will pay you 0.5% as a rebate* on your purchase. We’ll even double your rebate if you use your rebate towards a new TCU service, such as a mortgage, auto loan or a travel service through TCU Travel!  
 
TCU Everyday Savings is also an easy way to save. With Everyday Savings all your TCU Visa Check Card purchases are rounded up to the nearest dollar amount and the difference is automatically transferred from your checking account to your savings account. For example when you buy a large coffee for $2.15, we’ll round your purchase up to $3 and put the difference (.85¢) in your savings account. (In this case $3 is being taken out of your checking account.) Building your savings has never been easier. Contact a TCU Representative for details.

Go Green to Save Green

Going green and saving money are two items that are at the top of most people’s list these days. Here are some tips you can use to help keep the world beautiful while saving money at the same time!

• Unplug appliances that are not being used or turn off lights when rooms are vacant, it saves energy and keeps those nasty electric bills down.
• Another way to save money on the electric bill is by going as long as possible with out using the air conditioner in the summer. In the winter months set the thermostat lower, and those sweaters in your closest do need to see the light of day sometime. Nothing is better than cuddling up in a nice warm blanket on a cold snowy night anyway! 
• Find a friend that you can carpool with. Try it for a week and you’ll be amazed how much you save in gas. Or, if you live close enough to work, ride your bike or walk. It’s great exercise and you would be doing your part in saving the environment.  

Here are a few other ideas to Go Green to Save Green

• Use reusable water bottles, anything made from plastic is still around today and will be years from now
• Donate and recycle your old computers, cellphones, and PDAs
• Compact fluorescent light bulbs (CFLs) not only last longer (some up to two years) but save energy too
• Line dry clothes on nice days (plus they smell amazing too)
• Rain barrels that catch rain water keep the toxins out of the ground and great way to get water for your plants
• Instead of paper towels use old washcloths to wash/dry dishes (also trying hand washing dishes)
• Pay bills online, TCU offers an amazing bill pay service, check it out and sign up today at tcunet.com
• Go paperless. Sign all of you accounts up for e-statements. It’s usually a free service offered by many institutions.

If Going Green is too much of a hassle TCU offers many other tools to help you save and budget money at www.getthebearessentials.com.

Do you have tips to share about saving money and going green? Please share them by adding a comment.