IMPORTANT COVID-19 INFORMATION

We are currently experiencing high call volume with longer than usual wait times. Account information can be accessed online. We are here for you during COVID-19 with updates on how We Florida Financial is supporting our Members and what we are doing to stay focused on serving your financial needs while helping to contain the spread of the virus within our communities. Learn more...

We The
Bloggers

Helping you stay financially savvy.


Slider
Sandra

How to Protect Your Credit During Difficult Times

 Credit Rating

 In the throes of a pandemic, keeping your credit score at a good level might not be top of mind if your job is in jeopardy and you are wondering how to keep the roof over your head and feed your family.

It is important nevertheless to do everything to keep your score intact. Your credit report is important. Blemishes stay on your file for seven years and can affect your ability to get a job, rent an apartment, or secure certain types of insurance. Here are some practical ways to achieve that goal.

Prioritize

Write down all recurring bills. If you can pay some of your bills but not all in month, make sure you start by paying secured debts first. These are debts tied to a tangible asset such as a house or a car. Falling behind on these bills might have big consequences. Not paying a mortgage might lead to foreclosure. Not paying your car loan might lead to repossession.  For unsecured debt like credit cards, try to make the minimum amount required.

Use your credit card wisely

Be aware that running up your card balances can affect your score.  Generally, using more that 30% of your available credit will reduce a credit score. Of course, this fact may not be of the utmost concern now but this is information to keep at the back of your mind.  If you need to use your card to pay bills you may be able to help your score by using a program that gives you credit for items not typically included on a report.   One such program is Experian Boost that will give you credit for phone and utility bills. 

Be aware of your protections

Don’t forget that under some circumstances, the recently passed CARES Act (Coronavirus Aid, Relief and Economic Security Act) provides relief by letting you postpone payment on federally backed mortgages.  The Act also suspends payments on federal student loans through September 30.  You may be able to benefit from these protections due to your particular circumstances. Read and research.

Check your credit report

Don’t assume everything is OK. Be sure to keep on top of your credit report. Historically, the big three reporting agencies, Equifax, Experian and TransUnion have long offered a free annual credit report.  Now all three are offering free weekly credit reports for the next year to help consumers protect their score during the coronavirus crisis.  Scrutinize for errors and ask for corrections to be made if there are mistakes on your credit reports.

Contact your lenders

If you are unable to make payments, be sure to contact your lenders right away.  Most financial institutions have offered emergency loan deferments, the waiving of late fees and loan extensions.  For more information on how your credit union can assist you during these troubled times, visit us at WeFloridaFinancial.com/covid-19.

Continue reading
  137 Hits
Sandra

Protect Yourself and Avoid Identity Theft

In the age of data breaches, phishing scams and fraudsters using technology to steal identities, we have to be so careful with our personal information.  Criminals take the information they steal and sell it on the Dark Web.  Not just once, but, many times over.  What is the Dark Web?  It’s a whole different side of the internet that is anonymously used by criminals to buy and sell stolen identities for illegal profits. Once your identity has been stolen, it can take up to 6 months or longer to fix and cost thousands.

Continue reading
  197 Hits
Social Team

4 Ways You Can Save Money While Traveling

Ways You Can Save Money While Traveling

Why is it that your money seems to evaporate whenever you are traveling? It is easy for expenses to pile up once you set out on your travels. Here are some tips to help keep money in your wallet while still having a great time on your vacation.

Continue reading
  743 Hits
Social Team

Can't Save a Down Payment? There's an Alternative.

Zero Down Mortgage Financing from We Florida Financial

The real estate landscape can be tough for first-time homeowners with no equity. Many people struggle to meet the demands of everyday bills and still find space in the budget to put something away for a family home. Let's take a look at how long you could spend saving for a down home. Then, we'll look at an alternative loan program that can help you get into your dream home faster.

Continue reading
  647 Hits
Consolidated Credit

10 Money-Saving Summer Budget Tips

10 Money-Saving Summer Budget Tips

How to have fun in the sun this summer without taking on extra credit card debt.

Summer has officially kicked off, which means that it’s a good time to set a summer budget.

A summer budget can help you maintain stability over the next few months, so you can avoid credit card debt. With that in mind, the experts at KOFE have some tips that can help you build a budget that will help you stay on track this season.

Continue reading
  557 Hits
Consolidated Credit

Financial Literacy Month 30-Day Check List

Financial Literacy Month 30-Day Check List

April was National Financial Literacy Month and to help consumers expand their knowledge and achieve a better outlook, KOFE created a 30-day action plan. It’s designed to help you build your understanding of key financial topics and then take actions related to each topic.

The check list is based on the eight key areas of financial understanding. Each key area is broken up to three specific actions you can take to make sure your financial life is up to speed in that area of interest. You have a few days allocated to focus on each area so you can end the month in a better place financially.

Continue reading
  663 Hits
Sandra

Five Easy Tips for an Enjoyable and Healthy Vacation

Five Easy Tips for an Enjoyable and Healthy Vacation

It’s summer time and the living is easy. For many, it’s vacation season. Time to get away from the daily grind and kick back on a near or distant shore. But before you go, here are a few health and financial tips (5 to be exact) from a seasoned traveler who has explored many a clime and made it back to tell the tale.

Continue reading
  708 Hits
Social Team

Low-Interest Credit Card vs. Rewards Credit Card: Which one is right for you?

Low-Interest Credit Card vs. Rewards Credit Card

Credit cards come in so many varieties that it can be hard to know which one is the best choice for you. Some people like to earn cash back or other rewards while they shop, while others need help avoiding more debt as they pay off their balance.

If you're not sure which type of card you need, we're here to help! Here's a brief guide to low-interest credit cards and rewards credit cards to help you choose the best card for your needs!

Continue reading
  842 Hits
Social Team

The Ultimate Guide to Cryptocurrency Investment

Cryptocurrency - what is it?

A cryptocurrency is a digital form of money or medium of exchange built on blockchain technology. Cryptocurrencies use cryptography to secure and verify transactions hence their name. Its developers come up with these cryptography protocols based on computer engineering principles and advanced mathematics to make these protocols impossible to break. This makes them also impossible to duplicate or produce counterfeit. This level of security is achieved by masking the identities of the cryptocurrency users so that it’s difficult to track a particular person’s or group’s funds and transaction flows.

Continue reading
  693 Hits
Social Team

4 Ways to Set Yourself Up Well for Retirement

4 Ways to Set Yourself Up Well for Retirement

Day after day, your ideal retirement date draws ever closer – but are you any closer to being truly prepared? Well before that time comes, you need to build a solid foundation to keep your finances in check, so you can retire on time. Thankfully, you can start perfecting your plans with these four ways to set yourself up well for retirement.

Continue reading
  916 Hits
Social Team

What is a 401(k) Plan and Why Should You Have One?

What is a 401(k) Plan and Why Should You Have One?

Investing in a retirement plan may not be at the top of your list of things to do today, but it should be. Seriously. With most employers offering an easy to navigate, low-risk employee 401(k) plan, this is definitely something you should be taking advantage of. Savvy millennials know that making smart investments now will lay the groundwork for a bright financial future.

Continue reading
  819 Hits
Social Team

Best Ways to Make Money Online

Best Ways to Make Money Online

Thanks to the Internet, there are many ways to make cash online. Whether you want to make a living working on the Internet or simply earn some cash on the side, here are a few of the best ways to make money online.

Continue reading
  931 Hits
Social Team

3 Differences Between Credit Unions and Banks that Matter

3 Differences Between Banks and Credit Unions

It's obvious that big banks spend heavily on marketing and advertising to attract new customers. But many of us remember the financial crisis and how massive corporate institutions mishandled hard-working Americans' money. That's why everyday people often consider an alternative to these corporate giants.

Continue reading
  893 Hits
Social Team

Think About a Higher Paying Job

Think about a higher paying job.

Virtually no one would frown upon the idea of making more money doing what they love. There's nothing wrong with striving to increase the size of your paycheck. In fact, the Society for Human Resource Management conducted a survey and found that 63 percent of respondents said that compensation was a major contributing factor to job satisfaction. Here are a few tips that will help you score the higher paying job of your dreams.

Continue reading
  729 Hits
Social Team

Benefits of Using E-statements

Benefits of Using E-statements

In this day and age, doing good for the environment should be a priority on everyone's mind. From cleaning up trash to reducing waste, people from all over the world are doing what they can to improve this planet. One way that’s done involves using e-statements over traditional paper statements. Although it seems like a minimal change, using e-statements can lead to some amazing benefits. While environmental change is a leading benefit, using e-statements poses some other incredible advantages. See below for a list of the benefits.

Continue reading
  626 Hits
NXG Strategies

It’s Open Season on Tax Fraud. Stay Safe!

Protect yourself from Tax Fraud.

Tax time is here! As you prepare your returns this year it is important to remember that it’s peak season for tax fraud schemes. Tax fraud happens when someone uses your Social Security Number (SSN) to apply for your refund or to intimidate you into paying money that you do not owe. Criminals can also use your SSN to get around employment verification requirements or avoid being found out if they are on a list such as a sex offender registry.

Continue reading
  567 Hits
Social Team

How Regular Car Maintenance Can Prevent the Need for Expensive Repairs

How Completing Regular Car Maintenance Can Protect Your Finances

If your car seems to be chugging along perfectly fine, why should you fork out the dough for service work? When this thought flows through your mind unabated, you could be setting yourself up for trouble in the future. Whether they are driven often or not, modern vehicles require regular maintenance to remain in optimal condition. If you neglect to complete timely maintenance, you could end up paying far more than you would have otherwise to fix whatever broke. To ensure you do not make this costly mistake, utilize this guide to better understand how regular car maintenance can prevent the need for extensive repairs.

Continue reading
  831 Hits
Social Team

Millennials and Retirement: How To Avoid Falling Short Of Your Goals

We Florida Financial helping Millennials reach their retirement goals.

When millennials entered the workforce at the turn of the present century, they faced an economy impacted by the Dot.com and mortgage industry bubble collapse, and both the automotive and mortgage industries were in crisis. For this highly educated workforce, the uncontrollable economic impact would threaten to leave Millennials employed at lower wage levels - and many without the corporate benefit of a retirement plan.

Continue reading
  773 Hits
Social Team

We Boost Financial Fitness for Millennials

We Boost Financial Fitness for Millennials

As a massive group of individuals that recently transferred into adulthood and the largest generation currently in the labor force, millennials have a big impact on the financial landscape in many ways. As a generation, they stress a number of ideals that impact their relationship to finance, as well as their spending, saving, and investing habits.

Continue reading
  656 Hits
Social Team

4 Tips for First Time Homebuyers

first time home buyer

Buying your first home can be an exciting experience. Yet, with that excitement can come a laundry list of items to address to ensure your purchase goes off without a hitch. Give yourself the best chance for success by following the tips for first-time homebuyers listed below.

Continue reading
  755 Hits