Having a savings account is already a smart financial move, but adding a second one can take your strategy to the next level. A secondary savings account helps you manage your money with more clarity, intention, and organization. Whether you’re setting aside funds for a future trip, planning for seasonal expenses, or preparing for unexpected repairs, creating a separate account gives each goal its own space.

Rather than keeping all your savings in one place and trying to mentally divide the funds, a secondary account allows you to visually track and stay on target with individual goals. At We Florida Financial, opening a secondary savings account is simple and comes with no monthly maintenance fees, giving you more control without added cost.

In today's unpredictable world, establishing an emergency fund is a prudent step toward financial security. Such a fund should cover three to six months' worth of household expenses or unexpected events like major car repairs, significant medical bills, or even job loss. This financial cushion acts as a safeguard against unforeseen circumstances. Ideally, your emergency savings should be kept in an account that is easily accessible, offers competitive yields, and is fully insured against loss. Traditionally, options like Certificates of Deposit (CDs) or money market accounts were favored for their higher returns.

Leaving college often means the start of a new job, new living arrangements to pay for and other new expenses to cover. All of this means your finances will likely need an overhaul. It’s time to create your post-college budget.

If you’ve been working with a budget throughout college, you’ll already have the concept down pat. You’ll want to rework the numbers to incorporate your new expenses, as well as your new salary. If you’ve floated by on a wing and a prayer while in school, you’ll have to start at the very beginning as you build a workable budget to manage your finances.

If you’re looking to fund a home improvement project, consider tapping into your home’s equity with a home equity line of credit, or a HELOC.

What is a HELOC?

A HELOC is a revolving credit line allowing homeowners to borrow money against the equity of their home. Borrowers can withdraw money as needed during a set amount of time known as the “draw period,” which generally lasts 10 years.

Consumer debt can be one of the biggest challenges to financial wellness. With some intentional action and commitment, reaching true financial wellness is possible!

Here’s how to pay down or off your debt in five simple steps:

1. Organize your debt

List every credit card you own along with an outstanding balance. Jot down the amount owed to each card issuer. Next, list the interest rate of each card. Repeat these steps for other loans you may have as well. 

How much do you know about credit unions? Test yourself on these 8 myths: How many did you believe until today?

Myth #1: You must meet strict eligibility requirements.

Fact: While credit unions do require that members meet certain requirements to satisfy a common bond, many of these are broad, and few of them truly limit membership.

If you’re in the market for a new car or truck, you’re likely also shopping for an auto loan. Your auto loan will affect your monthly budget for the full term of the loan, so it’s important to do your research and make an informed decision before finalizing it. Here’s all you need to know about auto loans and how to choose the one that’s best for you. 

Tax season is stressful enough without adding vulnerability to identity theft to your list of things to worry about. To keep your sensitive personal information safe, however, you should be a little worried, though – or at least alert and informed enough to know a tax scam when you see one.
Tax scammers have several common tricks they use to lure taxpayers into handing over personal information that can be used for identity theft. Knowing what to look for is key to avoiding tax scams this tax season.

Q: What should be on my financial to-do list this spring?

A: It’s wonderful that you’re using the season to clean up your finances. Let’s review some ways you can improve your money management this time of year.

April 22^nd

August 20^th

When trying to trim a monthly budget, most people don’t even consider their fixed expenses; however, with just a bit of effort and research, most of these costs can be reduced.

1. Consider a refinance

Trim your mortgage payments by refinancing at a lower interest rate. It will cost a bit, but you can roll closing costs and other fees into your refinance loan. Plus, the money you save each month should more than offset these costs. A refinance is especially smart in a falling-rates environment or if your credit score has improved a lot.

If you’re like most Americans, you’ve probably noticed your grocery bills climb to crazy heights during the coronavirus pandemic. Over the past 12 months, all of the six major grocery store food group prices increased, according to the November 2021 Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics (BLS).

Spend less, save more, pay down debt — how can you make 2022 the year you actually stick to these and other financial resolutions? To help answer that, we’ve compiled a list of tips. 

Quiet. Calm. Clean. And empty.

These are just some words that may come to mind when your youngest kiddo leaves the nest. No stray sneakers cluttering up the hallway. No trail of school papers. You may even get the TV remote to yourself!

With the sun setting by 6 pm since we fell back for Daylight Saving Time, it’s more important than ever to brush up on ATM safety. Using a compromised ATM can mean risking identity theft and/or having cash stolen.

Here are tips to help you keep your ATM transactions secure. 

From the outside, banks look sophisticated and glamorous. There’s all that hype advertising and flashy logos. But, when it comes down to it, those things don’t matter much. What counts is how each institution will look after your money and what kind of service you can expect from them. That's why everyday people often consider an alternative to these corporate giants.

As a Member of We Florida Financial, you are uniquely positioned to manage your finances and watch your money grow on the best possible terms. Like a Member of an elite club, you are entitled to exclusive privileges and individualized service, courtesy of your credit union.

Let’s take a quick look at some of the benefits you can enjoy as a member :