Auto Buying 101 Workshop

Join us for the TFCU Auto Buying 101 Workshop

This workshop will cover everything you need to know about the auto buying process from budgeting for a payment, choosing a dealer and insurance requirements.


When: Saturday September 26, 2009, 9:00 am - 10:30 am

Where: Tucson Realtors Association 2445 N. Tucson Blvd (Just north of Grant and Tucson Blvd)

RSVP: Jacquelyn Valdez, Financial Education Specialist (520) 322-7401 or emailjvaldez@tucsonfcu.com by Friday September 25, 2009

Airline Priorty Boarding System

There is nothing more exhausting than waiting to board a flight at the airport. Between gold member card holders, diamond card holders, passengers with children and those that just check in online at exactly the 24-hour mark, it can take up to 20 minutes just to get on the aircraft.

Well the wait is finally over! According to Fox News, Southwest Airlines has introduced a new program that would allow passengers to purchase priority boarding. U.S. passengers may now choose the option "Early Bird Check-In" for a $10 fee, in order to allow them board with the priority passengers.

It appears that Southwest is hurting due to the economy and is exploring other ways to boost revenue. However, others have criticized Southwest for their decision to allow for priority boarding, suggesting they join the other airlines and charge passengers for the bags that they check in. Earlier in the year, Southwest announced that small pets could now travel on their flights for an $85 fee.

Will you take advantage of either of these new flight options?


Resources:
http://www.foxbusiness.com/personal-finance/lifestyle-money/index.html

Back-to-School Shopping on a Budget

Each August barbers, salons, malls and retail stores fill up as families begin their back to school shopping. From pencils and ruler, to haircuts and new shoes, back to school shopping can add up. Here are some tips to help you get the essentials, without spending more than you need to and can afford:

Reuse some of last year's supplies including backpacks and lunchboxes that are in mint condition.


Compare online prices with physical store prices. Online coupons and free shipping may get you a better deal online than in a real store.

Stick to a list. Buy only what’s necessary and stick with the basic model. Don’t be swayed by “great deals,” the hype of back to school, or the begging of your kids.

Plan your budget now. Don’t wait until three days before school starts to think about this. Go ahead and figure out how much you’ll need and start putting a little extra money away to cover it.

Start early. Buy a little at a time as you find sales, coupons, and great buys. It may be easier to buy everything in one trip, but that is rarely the most cost effective method.

You don’t have to buy a whole new wardrobe before school starts. Get one new outfit to “make a good impression” on the first day and let them wear other clothes the rest of the time. Buy new clothes as needed, not just because “it’s back to school.”

Look for freebies and keep them throughout the year in a “back to school” stash. How many times have you picket up free pens, pencils, memo pads, etc. from conventions, expos, or hotels? Keep them and put them to use when school rolls around.


Resources:
http://www.savingadvice.com/blog/2009/07/13/104827_back-to-school-shopping-on-a-budget.html

Lose to Win: Financial Education

I recently had a coworker forward me a link to a website that they thought I might enjoy. Upon arriving to the site, I noticed that it was a challenge, similar to the show The Biggest Loser. However, instead of shedding pounds and gaining muscle, these contestants are competing to lose debt and gain wealth.

There are four teams competing: the Hall Family, the Ridings Family, the Smith Family, and the Willis Family, all competing to win $10,000! This website allows you to learn more about the families, follow their blogs throughout the challenge, and learn about how YOU can lose debt and gain wealth. Click here to view the website.


Resources:
http://www.losetowinfe.com/

“UN-BROKE: WHAT YOU NEED TO KNOW ABOUT MONEY”

Schools teach us almost everything, but not "Money 101." For the basics on finance, turn to "UN-BROKE: What You Need to Know About Money." It's an unconventional look at the fundamentals of everyday finance with all the facts about credit cards, mortgages, stocks and bonds, investing and 401(k)'s, in a fresh new format combining information and humor. The one-hour special airs FRIDAY, MAY 29 (9:00-10:00 p.m., ET) on the ABC Television Network.

Hosted by "Good Morning America" contributor and President of Ariel Investments Mellody Hobson, the special features Will Smith, Samuel L. Jackson, the Jonas Brothers, Christian Slater, Cedric the Entertainer, Seth Green, Sesame Workshop's Oscar the Grouch, Rosario Dawson and the E*Trade Babies, among others. Hobson said: "Financial education is critically important, and 'UN-BROKE' proves that it doesn't have to be boring. The economic crisis was a harsh wake-up call that we can't keep doing the same thing in the same way. To me, that meant taking a fresh look at my own approach to financial education. This will make people laugh while they learn."
The special's take on basic money sense includes:

• Will Smith, who gets down to basics with a boardroom full of corporate finance executives.
• Samuel L. Jackson, who appears as a bestselling author of self-help books and who is "Broke as Hell and Not Going to Take it Anymore!"
• The Jonas Brothers, who teach screaming teenage girls the mysteries of the stock market.
• Seth Green, who explains the fundamentals of a smart mortgage from his "crib."
• Cedric the Entertainer, who talks back to credit cards.
• Christian Slater and Rosario Dawson, who visit an office workplace to explain the importance of investing in a 401(k) retirement plan.
• The E*Trade Babies, who meet Mellody for an online chat from their high chairs.

"UN-BROKE: What You Need to Know about Money" is a co-production of Lincoln Square Productions and Overbrook Entertainment. The executive producers are Mellody Hobson and Rudy Bednar. A TV parental guideline will be posted closer to airdate.

Found on http://abcmedianet.com/web/dnr/dispDNR.aspx?id=051209_05

The Games of Money

While out in the classrooms, teachers are constantly asking how they can enhance their money lessons with a more authentic experience. I tell them simulations, role-playing and games. Games are a fun and easy way to not only express the financial concepts, but a way for the students to act out what it is they are learning about. It's easy to read about paying bills, or take notes on credit cards, but one can only fully understand it once they have experienced it. Here is a list of great games (board games and online games) that can help enhance your lessons on money and achieve the desired levels of comprehension.

Monopoly- Students can buy and sell properties, and collect rent. Monopoly is a great money game for kids learning how to count money and make tough financial decisions. You can either play the classic Monopoly with paper money or the new Monopoly with Electronic Banking. I recommend both!

Life- Students make decisions about money, careers and other life decisions. The decisions made, affect the income received and how money is spent.

Moneywise Kids- Two different games are included in Moneywise Kids, one for making change and the other for budgeting money. Players must account for food, clothing, and housing in the play option focused on money management.

Payday- Students learn how to manage a paycheck, pay bills and still try to have money left over to save and spend!

Online sites with money games:
Piggy Bank-students learn about coin denominations and how to make change
Change Maker- students learn how to make change by doing addition and subtraction
Money Flash Cards- students learn how to add money
H.I.P. Pocket Change- US Mint website with several games and lessons for students on money
It's My Life- students learn how to budget for a month with a set amount of money

Resources:
http://kidmoney.about.com/od/teachingchildren/tp/6-Money-Games-for-Kids.htm
http://www.kidsmoneystore.com/bdgame.htm

More Fun Money Facts

I posted a blog a few weeks ago discussing interesting money facts. I received great feedback from this posting, therefore I decided to share more fun money facts. Who would have thought that learning about money could be almost as fun as spending it?

• During the fiscal year of 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 million.
• If you had 10 billion $1 bills and spent one every second of every day, it would take 317 years before you went broke.
• A stack of currency one mile high would contain over 14½ million notes.
• You can double fold a note 4,000 times before it will tear.
• Contrary to popular belief, the automobile pictured on the back of the $10 bill is not a Model "T" Ford. It is a creation of the designer of the bill.
• All 50 states are listed across the top of the Lincoln Memorial on the back of a $5 bill.
• There is more Monopoly money printed in a year, than real money printed throughout the world. The amount of money in a Monopoly game is $15,140.
• There are 293 ways to make change for a dollar.
• Nine thousand years ago, people used cows for money!
• The words "The United States of America" appears on the $100 note 12 times
• 3 in every 10,000 US bills is counterfeit.

References:

http://www.moneyfactory.gov/document.cfm/18/106

http://www.delraycc.com/InterestingMoney/12MoreAmazingMoneyFacts/tabid/183/Default.aspx

http://www.happyworker.com/magazine/facts/weird-and-wonderful-money-facts