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Moneyline Blog

  • PFCU Announces 3rd Annual Art Competition for Students in Grades 3-5

    This month is National Financial Literacy Month. Each April, across the country, the importance of financial literacy and establishing and maintaining good financial practices is promoted. Philadelphia Federal Credit Union’s 3rd annual art competition began last week on April 1, 2014, to coincide with the first day of National Financial Literacy Month.

    While most people agree that teaching good financial habits starting at an early age is a good idea, the truth of the matter ...

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  • Set and Achieve Your Financial Goals

    Establishing goals is a vital first step in any process when preparing for the future. Goals are especially helpful when planning important financial endeavors such as retirement, a child’s education, and as summer approaches, an exciting family vacation. Many people find it difficult to save money and achieve these goals for a variety of reasons, including a lack of focus or a loss of motivation. The techniques that follow will help make your saving process ...

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  • Spring Savings

    In today’s unstable economy, achieving the most “bang for your buck” is crucial for the average consumer. As we patiently await the onset of spring, consumers have more to look forward to than just the warmer weather and budding blooms. Unbeknownst to many, the spring season brings great bargain prices to a variety of household goods and popular consumer products. This in-between season is the perfect time to take advantage of the discounted prices being ...

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  • Things to Consider When Purchasing Your First Home

    Buying your first home can be a challenging task and can require a lot of time, but it’s an important lifetime investment. Though market trends have indicated that people are waiting longer before investing in a home, home sales are currently on the rise. According to the National Association of Realtors, “Overall existing home sales for 2013 reached a seven-year high of 5.09 million.” As the housing market continues to see an upsurge, Realtors expect ...

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  • 8 Tips for Paying Off Credit Card Debt Once and For All (Part 2)

    We’ve been talking about ways PFCU members can pay off credit card debt once and for all. Last week, in Part 1 of our two-part series, we looked at four ways to rid yourself of credit card debt.

    Here are PFCU’s last four tips:

    1. Take advantage of your tax refund. You can use this to pay off some of your credit card bills. A rule of thumb, you never want to go over 30-50% of ...

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  • 8 Tips for Paying Off Credit Card Debt Once and For All (Part 1)

    Tired of feeling as though there’s an ever-present cloud of credit card debt looming over your head, following your every move, taunting your every purchase? Credit card debt is a major issue facing millions of Americans today. Last year, a Bankrate.com study reported that one in four people have more credit card debt than savings. In this two-part series, we’ll share eight tips for ridding yourself of credit card debt once and for all.

    Here ...

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  • Preparing to Prepare Your Taxes

    People often find the process of gathering the forms and documents necessary to prepare their income tax returns more burdensome than the actual act of filing their taxes. Whether you are planning to prepare your tax returns yourself or work with a professional tax preparer to file your 2013 taxes by April 15, the first step is collecting all the forms and documents you will need and gathering them in one place.

    To help you ...

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  • A Resolution Every Parent Should Make in 2014

    If you still have not determined your New Year’s resolution, consider making a promise to teach your kids good financial habits this year. By teaching children in elementary school lessons about budgeting, saving, investing and goal-setting, they will be more likely to grow up to become financially responsible adults. Here are some tips for teaching kids about money:

    1. Envelope System: Give kids their allowances in denominations that encourage saving. If the amount is $5, ...

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  • First Time Home Buyers: What Size Mortgage Is Right for You?

    Perhaps the low mortgage rates for 30- and 15-year fixed mortgages have led you to contemplate whether or not now is the right time for you to buy your first home. The home you buy largely depends on your qualifications for a mortgage. There are several factors that determine the amount of money you can and should borrow from a lender, including the down payment you have set aside and your debt-to-income ratio.

    If you’ve ...

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  • 5 Tips for Scoring the Best Black Friday Deals

    1. Create a Plan: It’s important to have a plan before hitting the stores. PFCU recommends creating a budget for everyone on your list. Take this important step one step further by listing what you want to buy for each person and how much those things typically cost. This way when you are shopping in the stores you know if you’re getting a good deal.

    2. Do Your Homework: Preview the Black Friday sale ads ...

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