Before you start shopping for a used car, do some homework. It may save you serious money. Consider your driving habits, what the car will be used for, and your budget. Research models, options, costs, repair records, safety tests, and mileage – online and through libraries and bookstores.

Before You Buy a Used Car

Whether you buy a used car from a dealer or an individual:

• Test drive the car under varied road conditions – on hills, highways, and in stop-and-go traffic.
• Ask for the car’s maintenance record from the owner, dealer, or repair shop.
• Determine the value of the vehicle before you negotiate a purchase. Check the National Automobile Dealers Association’s (NADA) Guides (www.nadaguides.com), Edmunds (www.edmunds.com), Kelley Blue Book (www.kbb.com), and Consumer Reports (www.consumerreports.org). Some of these organizations may charge for this information.
• Research the upkeep costs for models you’re interested in, including the frequency of repairs and maintenance costs.
• Examine the car using an inspection checklist. You can find checklists in magazines, books, and on websites that deal with used cars.
• Check whether there are any unrepaired recalls on a vehicle. Start by asking the dealer if the vehicle you’re considering has a recall. You also can check yourself by entering the VIN at www.safercar.gov, or by calling the National Highway Traffic Safety Administration’s (NHTSA) Vehicle Safety Hotline at 1-888-327-4236. If there is a recall, ask the dealer to fix it, or to give you information showing it was fixed. Keep in mind that federal law doesn’t require dealers to fix recalls on used cars, so you might need to get the repair done yourself. But don’t wait – according to NHTSA, all safety recalls pose safety risks and left unrepaired, might lead to accidents.
• Get an independent review of a vehicle’s history. Check a trusted database service that gathers information from the state and local authorities, salvage yards, and insurance companies. For example, the Department of Justice’s National Motor Vehicle Title Information System (NMVTIS) (www.nmvtis.gov) offers information about a vehicle’s title, odometer data, and certain damage history. Expect to pay a small fee for each report. The National Insurance Crime Bureau (NICB (www.nicb.org) maintains a free database that includes flood damage and other information. You can investigate a car’s history by its Vehicle Identification Number (VIN). You also can search online for companies that sell vehicle history reports. If the report isn’t recent or you suspect that is has missing or fabricated information, verify if with the reporting company. The information in the reports may not be complete, so you may want to get a second report from a different reporting company. Some dealer websites have links to free reports.
• Consider hiring a mechanic to inspect the car.

Pay in Full or Finance

You have two choices: pay in full or finance over time. Financing increases the total cost of the car because you’re also paying for the cost of credit, including interest and other costs. Consider how much you can put down, the monthly payment, the financing term (such as 48 months), and the annual percentage rate (APR). Rates usually are higher and financing periods shorter on used cars than on new ones.

Dealers and other finance sources (like finance companies, credit unions, and banks) offer a variety of financing terms. Shop around, compare offers, and negotiate the best deal you can. If you’re a first-time buyer – or if your credit isn’t great – be cautious about special financing offers. They can require a big down payment and a high APR. If you agree to financing that carries a high APR, you may be taking a big risk.

• If you decide to sell the car before the end of the financing period, the amount you get from the sale may be less than the amount you need to pay off the financing agreement.
• If the car is repossessed or declared a total loss because of an accident, you may have to pay a considerable amount to repay the loan even after the proceeds from the sale of the car or the insurance payment have been deducted.

If money is tight, you might consider paying cash for a less expensive car.

If you decide to finance, make sure you understand the financing agreement before you sign any documents.

• What is the exact price you’re paying for the vehicle?
• How much are you financing?
• What is the finance charge (the dollar amount the credit will cost you)?
• What is the APR (a measure of the cost of credit, expressed as a yearly rate)?
• How many payments will you make – and how much is each one?
• What is the total sales price – the sum of the monthly payments plus the down payment?

Happy Shopping. WFCU offers low-rate auto loans. Apply today.

Taking inventory of your finances at the end of the year is always a smart move.

Confirm your contact information – Let’s start with the easiest possible task: If you moved during the last year, make sure your financial institutions and employer have your new address. The last thing you want is to miss an important piece of mail and mess up your taxes—so it can’t hurt to double-check.

Audit your subscriptions and automatic payments – Recurring monthly payments can really add up over time, so go through your subscriptions and ask yourself what you truly need and what you can do without. One or two nix-worthy line items can free up funds for other uses. Repeat this process for any automatic payments and transfers, especially your internet and/or cable bill. You can often get a lower rate by stating you are going to switch service. Double-check your monthly bill for accuracy, autopay makes billing mistakes easy to miss.

Update your banking passwords – Data leaks happen often, and you really don’t want your banking login compromised. Start the new year with a fresh set of passwords for all financial accounts.

Clear out payment app balances – If you use Venmo, PayPal, or other payment apps, check to see if you’re carrying a balance. Most people are—which means you’ll probably find some free money. Transfer excess balances to your WFCU share account or use it to pay off your credit card debt.

Check in on your savings and debt payoff goals – Whether you’re saving for retirement, paying down debt, or both, it’s a good idea to take stock of your progress this year. Did you meet your goals? If not, what adjustments do you need to make for 2022? Don’t forget to consider factors beyond your own habits namely, interest rate changes. If the interest rates on any of your accounts have changed significantly this year, it’s worth shopping around to see if you can get a better deal at your credit union.

Gear up for tax season – As another January draws to a close, it can only mean one thing: Tax season is coming. Getting your tax documents in order now (and touching base with your accountant) will save you time and effort down the line. Unless the IRS postpones Tax Day for the third year in a row, the 2021 filing deadline is April 15, 2022. This is also the deadline for making tax-deductible IRA contributions, even if you file an extension—so don’t procrastinate on your contributions for too long.

Cleaning up your finances doesn’t have to be a long, drawn-out process. Most of these tasks take just a few minutes to complete. Pick one or two to start with, get them taken care of, and go from there. You’ll start 2022 in a much better place.

LendKey’s Frequently Asked Questions

1. What types of loans can I refinance?
   • You can refinance your private and/or federal student loans that were taken out in your name as the student borrower.
2. How does the student loan refinance process work?
   • The first step to refinancing is to check what interest rates and terms you are offered via a soft credit check that has no negative impact on your credit. If you like the loan options you see, you can then submit an online application with a hard credit inquiry, which may impact your credit.
     • From there, you will select the loan(s) you want to refinance and will be required to provide certain documents such as a government-issued ID, proof of income, and a loan statement from your current servicer for each loan you want to refinance.
     • After the documentation has been approved, you will be able to electronically review your loan disclosures and sign your loan agreement, before we disburse the funds to pay off your old loans and create a new refinanced loan serviced through LendKey.
3. When is the best time to refinance?
   • The first step is to check your rates to see if our lending partners can offer more competitive terms than what you already have. Please keep in mind that if you are currently utilizing an in-school deferment option or grace period you will move into full repayment after your loans have been refinanced.
4. Can I refinance my private and federal loans together?
   • Yes, we can refinance private and federal student loans together that were taken out in your name as the student borrower.
     • Please be advised that there are specific benefits that come with federal loans such as loan forgiveness and income-based repayment options, you will be forfeiting your eligibility for receiving those benefits when you refinance with a private lender.
       • Please see our blog to learn more about refinancing your federal loans.
5. What is the difference between student loan refinancing and student loan consolidation?
   • Student loan consolidation is the Department of Education’s program where you combine multiple federal loans into one, resulting in a weighted average interest rate of your previous loans. Private student loans are not eligible for federal student loan consolidation.
   • Student loan refinancing is done through a private lender and can combine one or all your private and/or federal student loans into one monthly payment. Terms of private student loan refinancing are determined by a credit-based application, meaning if you are approved, you could receive a new interest rate and new repayment term. This may help you save money on interest and/or change the length of your loan term to better fit your financial needs.
6. What happens if I refinance my federal loans with a private lender?
   • If you refinance your federal loans with a private lender, it becomes a private loan.
     • When you do this, you are forfeiting your eligibility to receive the specific benefits and protections that come with federal loans, such as loan forgiveness and income-based repayment options.
       • Please see our blog to learn more about refinancing your federal loans.
7. Can I choose to only refinance my student loans with high interest rates?
   • Yes, after you have been conditionally approved, you can select which specific loans you want to refinance.
     • We will then update the loan amount based on the loans you have selected and provided documentation for.
     • Please be advised that your final loan amount of all the loans combined you want to refinance will need to exceed the $5,000 minimum requirement (Except if you are a resident of AZ: $10,001; CT: $15,001; MA: $6,000).
8. My loans aren’t from the school I graduated from. Is that a problem?
   • No, if you have graduated with at least an associate degree from a Title-IV participating school, you are eligible to refinance if you meet the other eligibility requirements, and it does not matter what school the loans were used to attend.
9. Can I refinance while I am still in school?
   • Yes, if you have graduated with at least an associate degree from a Title-IV participating school, you can refinance your loans even if you are still currently in school.
     • Please be advised that once you refinance, your loans will go into repayment, and you could lose out on in-school repayment options that are associated with your current loans.
10. Can I refinance a loan that was previously consolidated or refinanced?
    • Yes, whether you have previously consolidated your student loans with the Department of Education or refinanced with a private lender, you can refinance again through one of LendKey’s lending partners.
11. Will checking my rates affect my credit?
    • You can check your rates without impacting your credit using the check your rate tool. Checking your rates will show you the rates and terms you may qualify for.
    • If you select a loan option and decide to complete the application, a hard credit inquiry will be performed, which may impact your credit.
12. Will applying for this loan affect my credit?
    • You can check your rates with LendKey without impacting your credit using the “check your rate” tool. Checking your rates will show you the rates and terms you may qualify for.
    • If you select a loan option and decide to submit the application, a hard credit inquiry will be performed which may impact your credit.
      •  It is important to be mindful of how many credit applications you are submitting.

Cosigner Information

1. Can I refinance loans that I took out as the parent?
   • At this time, loans that were taken out in the name of the parent as the primary borrower, such as Parent PLUS loans are not eligible for refinancing through LendKey’s lending partners.
2. Can I refinance loans that my parents took out on my behalf?
   • Currently, only education loans that are in your name as the student primary borrower are eligible for refinancing through LendKey’s lending partners.
   • Can my spouse and I refinance all our loans into one?
     • Currently, LendKey’s lending partners only refinance education loans that are in your name as the primary borrower.
3. Can I refinance my credit card debt with my student loans?
   • No, LendKey’s lending partners can only refinance qualified student loans that are in your name as the primary borrower.
4. Who should be my cosigner?
   • Typically, your cosigner may be a parent, grandparent, guardian, or other adult who is creditworthy and willing to assume legal responsibility for the loan liabilities along with you.
   • A cosigner may increase your chances of approval or help you qualify for better terms.
5. How do I cosign my student’s loan?
   • After the borrower part of the application has been completed an email will be sent to the cosigner with a link to click to enter the cosigner’s information.
6. What responsibilities do I have as a cosigner?
   • The cosigner shares the same responsibilities as the borrower for the loan.
     • This includes ensuring on-time monthly payments.
       • That means as the cosigner, you may experience the same positive impact on your credit score as the borrower for making on-time monthly payments but will likely face the same negative credit impact for late or missed payments.
7. If I cosign for a student loan refinance, can I be released later?
   • Yes, cosigner release is subject to lender approval.
   •  To qualify, the borrower, alone, must meet the following requirements:
     • Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock.
     • The account cannot be in delinquent status
     •  The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment.
     • No bankruptcies or foreclosures in the last sixty months; and
     • No loan defaults. For more information regarding this benefit, please give us a call at 888-549-9050 or email us at customer.care@lendkey.com.

Apply today: Student Loan Refinancing: Compare Your Rates & Save Money Now (lendkey.com)

Getting into college was only the beginning of your higher education journey. If your sophomore year is coming up or about to end, it might be time to seriously consider committing to a degree plan. The sooner you declare a major, the sooner you can graduate and work in your desired field. Many college students declare a major too early and repeatedly change their minds. Others wait longer than necessary and rack up extra courses that won’t count toward their degree. Both situations could result in paying for nonessential classes that do little to move you closer to your credential.

While college is a time to explore various interests through elective courses, consider focusing on a specific major before beginning upper-division coursework.

Here are five questions you should ask before next semester.

1. What’s it like to work in the field?

Get to know career service staff members at your school. They might offer to connect you with alumni with in-field experience. You could also visit O*NET OnLine to perform a job analysis. Use their Find Occupations feature to uncover detailed work activities, work styles, and work values associated with a specific position. As you learn more about the realities of a specific occupation, you might find yourself reconsidering your career goals.

2. Which majors are likely to land me an entry-level position in my chosen field?

The Occupational Outlook Handbook can answer questions related to minimum education requirements, expected pay, career outlook, and degree requirements. High schoolers and even college sophomores might find this reference tool helpful when exploring career options. If you’re already well into your junior year and haven’t declared a major, this research could bring good news. Depending on the coursework you’ve already completed, you might be closer to finishing a degree than you previously thought.

3. Will I need to improve my math skills?

If you intend to major in science, technology, engineering, or math (STEM), you could be on the path to earning one of the highest starting salaries for college graduates. But, if your math skills are weak, you may need to factor in a few extra courses to boost your problem-solving and analytical skills. This could be one occasion when it would be worth taking additional remedial courses that may not count toward your degree.

4. Who can I speak with at my college about declaring a major?

Some colleges require students to meet with a faculty member or academic department head before or as part of picking a college major. Speaking with someone early can help you gather additional resources to ensure you’re following a degree plan aligned with your career goals. They should also be able to tell you how many other courses you must take if you later decide to switch majors.

If you recently declared a major and discovered you must attend school longer than planned, an extra tuition bill might be in your future. When federal financial assistance or savings isn’t enough to cover the cost of the remaining courses to complete your degree, a low-interest rate private student loan could help cover those educational expenses.

WFCU through our partner LendKey offers variable and fixed-rate private student loans to help you pay for gaps in funding. Apply today!

Source: LendKey

What is the definition of debt consolidation? Debt consolidation is the process of transferring all your outstanding debts and loans into one loan. These types of loans should lower interest rates and help you pay off your debt faster.

Debt consolidation should be considered whenever you feel overwhelmed with monthly payments because it can get you out of debt faster with less money spent. Whether you’re struggling to make ends meet or just want to use your money more wisely, debt consolidation may be for you.

Know Your Credit Score – Whether true debt consolidation is a viable and smart strategy will depend on the terms you receive. Those terms will depend on your credit score. Therefore, you need to take inventory of where you stand in order to assess which realistic options will be available to you. If you have a great credit score, then a balance transfer may be a good option. If your score is on the low end, then the terms on a balance transfer or loan will not be as appealing and could create more harm than good.

Balance Transfer – A balance transfer involves opening a new credit card with a low or zero-percent interest rate (for a promotional period). You then move your previous debt(s) to this new credit card. In effect, you will have reduced your interest rate from a high rate on the old debt to a lower rate on the new card.

You will typically pay a fee for the amount you transfer (although some cards waive the fee for applicants with excellent credit), and there will be a limit to how much you can transfer (meaning you may not be able to transfer all of your existing debt).

A Debt Consolidation Loan – A consolidation loan works much like a balance transfer, but you would be receiving a loan rather than a line of credit. The process would involve opening the loan, using funds from the loan to pay off the previous debt(s), and then repaying the loan. Like with balance transfers, better terms will be reserved for borrowers with good to excellent credit.

To make this strategy worth it, a borrower should only accept a loan with an interest rate significantly lower than the rate on the existing debt(s). Some lenders may charge origination fees, but borrowers should shop around and try to avoid such fees.

As you can see, a lot goes into the decision to pursue debt consolidation. A balance transfer or consolidation loan may be the right solution for those who can secure good interest rates and avoid fees.

To learn more about where you stand and which path forward may make sense for you, speak with a credit counselor.

There are more reasons than ever to love being a member of Wheatland Federal Credit Union.

Your credit union membership is about the trust and care of community, built around where you live, work and play. That’s why WFCU membership saves you money through exclusive member-only offers through our trusted partners. Through Love My Credit Union Rewards, credit union members have saved over $2 billion with offers like:

»   Members can save up to $360 on their wireless bill by switching to no-contract wireless.

»   Members can save up to 35% on IdentityIQ credit report monitoring and identity theft protection.

»   Savings up to $15 on TurboTax federal products.

»   Exclusive access to home tech support and protection with Asurion Home+.

»   Exclusive discount from the TruStage Home & Auto Insurance Program.

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»   Exclusive access to the Love My Credit Union Rewards Powersports, RV & Boat Buying Program.

»   Save on car maintenance + get $10 off your first service using CarAdvise.

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Learn all about how your Wheatland FCU membership gets you all these exclusive savings and more at LoveMyCreditUnion.org. Check them out and start enjoying credit union member benefits you never knew you had.

A Financial Warm Up

Most of us know it is smart to save money for those big-ticket items we really want to buy – a new television or car or home. Yet you may not realize that probably the most expensive thing you will ever buy in your lifetime is your retirement.

Perhaps you’ve never thought of “buying” your retirement. Yet that is exactly what you do when you put money into a retirement nest egg. You are paying today for the cost of your retirement tomorrow.

The cost of those future years is getting more expensive, for two reasons. First, we live longer after we retire – with many of us spending 15, 25, even 30 years in retirement – and we are more active.

Second, you may have to shoulder a greater chunk of the cost of your retirement because fewer companies are providing traditional pension plans. Many retirement plans today, such as the popular 401(k), are paid for primarily by the employee, not the employer. You may not have a retirement plan available at work or you may be self-employed. This puts the responsibility of choosing retirement investments squarely on your shoulders.

Approximately 50% of employees are earning retirement benefits at work but are not familiar with the basics of investing. Many people mistakenly believe that Social Security will pay for all or most of their retirement needs. The fact is, since its inception, Social Security has provided a minimum foundation of protection. A comfortable retirement usually requires Social Security, employer-based retirement plan benefits, personal savings and investments.

In short, paying for the retirement you truly desire is ultimately your responsibility. You must take charge. You are the architect of your financial future.

That may sound like an impossible task. Many of us live paycheck to paycheck, barely making ends meet. You may have more pressing financial needs and goals than “buying” something so far in the future. Or perhaps you’ve waited until close to retirement before starting to save. You still may be able to afford to buy the kind of retirement you want. Whether you are 18 or 58, you can take steps toward a better, more secure future.  

It starts with a dream, the dream of a secure retirement. Yet like many people you may wonder how you can achieve that dream when so many other financial issues have priority.

Managing Your Financial Life – Besides trying to pay for daily living expenses, you may need to buy a car, pay off debts, save for your children’s education, take a vacation, or buy a home. You may have aging parents to support. You may be going through a major event in your life such as starting a new job, getting married or divorced, raising children, or dealing with a death in the family.

How do you manage all these financial challenges and at the same time try to “buy” a secure retirement? How do you turn your dreams into reality?

• Start by writing down each of your goals. You may want to have family members come up with ideas. Don’t leave something out because you don’t think you can afford it. This is your “wish list.”
• Organize your goals into two categories. Put all goals you want to accomplish within the next 5 years or less in the “-5” category. Put all goals that will take longer than 5 years in “5+” category.
• Organize your goals in order of priority. Make retirement a priority! This needs to be among your goals regardless of your age.

Beginning Your Savings Plan

• Calculate your net worth.
• Review your net worth at least annually.
• Identify other financial resources not included in your net worth.
  • Life insurance policies.
  • Social Security survivor’s benefits.
  • Health care coverage.
  • Disability insurance.
  • Liability insurance.
  • Auto and home insurance.

Envision Your Retirement – Retirement is a state of mind as well as a financial issue. You are not so much retiring from work as you are moving into another stage of your life. Some people call retirement a “new career”.

What do you want to do when you retire? Will you move? Will you work? The answers to these questions are crucial when determining how much money you will need for the retirement you desire – and how much you’ll need to save between now and then.

Planning for Retirement While You Are Still Young – Retirement probably seems vague and far off at this stage of your life. Besides, you have other things to buy right now. You will probably have to pay for more of your own retirement than earlier generations. The sooner you get stated, the better.

You have one huge ally – time. You can start small and grow. Even setting aside a small portion of your paycheck each pay will pay off in big dollars later. Company retirement plans are the easiest way to save. If you’re not already in your employer’s plan, sign up today.

You can afford to invest more aggressively. You have years to overcome the inevitable ups and downs of the stock market. Developing the habit of saving for retirement is easier when you are young.

How to Prepare for Retirement When There’s Little Time Left – What if retirement is just around the corner and you haven’t saved enough?

• It’s never too late to start. It’s only too late if you don’t start at all.
• Sock it away. Pump everything you can into your tax-sheltered retirement plans and personal savings. Try to put at least 20% of your income.
• Reduce expenses.
• Take a second job or work extra hours.
• Make sure your investments are part of the solution, not part of the problem.
• Retire later. You may not need to work full time beyond your planned retirement age. Part time may be enough.
• Refine your goal. You may have to live a less expensive lifestyle in retirement.
• Delay taking Social Security. Benefits will be higher when you start taking them.
• Make use of your home. Rent out a room or move to a less expensive home and save the profits.

Now that you have a clearer picture of your retirement goal, it’s time to estimate how large your retirement nest egg will need to be and how much you need to save each month to buy that goal. This step is critical.

Estimate How Much You Need to Save for Retirement

• How much retirement income will I need?
• How long will I live in retirement?
• What other sources of income will I have in addition to Social Security?
• What savings do I already have for retirement?
• What adjustments must be made for inflation?
• What will my investments return?
• How many years do I have left until I retire?
• How much should I save each month?

Now comes the tough part. You have a rough idea of how much you need to save each month to reach your retirement goal. But how do you find that money? Where does it come from?

“Spend” for Retirement – There’s one simple trick for saving for any goal: spend less than you earn. That’s not easy if you have trouble making ends meet or if you find it difficult to resist spending whatever money you have in hand.

A spending plan is a guide for how we want to spend our money.

• Income.
• Expenses.
• Include savings as an expense.
• Subtract expenses from income.
• Cut expenses.
• Increase income.

Tips – even after you’ve tried to cut expenses and increase income, you may still have trouble saving enough for retirement and your other goals.

• Pay yourself first.
• Put bonuses and raises toward savings.
• Make saving a habit.
• Revisit your spending plan every few months.

Cook hearty, seasonal meals. Squash, apples and roots are in plentiful supply this year, which means making roasted vegetables, pies and fruit crumbles has never been more affordable, either. Whether you pick you own at local farm or stock up at the grocery store, you can save.

Take advantage of fall sales. The back to school deals and Black Friday sales tend to grab the spotlight, but there are more under the radar discounts you can find if you know where to look. Halloween, Veterans Day and Small Business Saturday all feature steep discounts at participating stores.

Gear up for the holidays. Planning your holiday shopping list weeks and even months in advance is the key to staying within your budget. Make a list of your gift recipients, a budget, gift ideas and then actual gifts purchased. This level of organization prevents duplicate purchases and waste.

Protect your money. Scammers pick up the pace during the holiday shopping season. Be prepared. If you get an email that looks like it’s from your credit union or bank or a familiar retailer and it’s requesting information from you, treat it skeptically. Scam artists often operate by masquerading as a legitimate business and pursuing the victim to share personal information.

Enjoy the football season on a budget. Football season has started and rooting for your team can be a pricey hobby. Instead of stocking up on expensive apparel and blowing your budget on tailgating parties, buying team apparel in the offseason, getting you bit TV for watching games on Black Friday and hosting potlucks around the big games.

Prep your home. Cleaning out your furnace filter, making any necessary roof repairs and checking up on your insulation are all part of a smart and frugal plan for preparing your home for winter. To save money, you can tackle many of these tasks yourself, especially is you already have basic tool kit on hand. For safety, don’t forget to replace your smoke detector batteries, too.

Audit your normal spending. Most of us experience a big shock to our budgets over the holidays, but you can help prepare for the seasonal expenditures by reviewing your typical monthly spending carefully. If there are areas you can cut back, such as on restaurant meals or entertainment, then you’ll be able to manage the cost of gift purchases more easily.

Make your tax deadlines. The end of the year also mean deadlines are approaching for flexible spending accounts and other purchases and expenditures with tax implications. If you haven’t used up all your flex spending budget for health care, commuting or childcare costs, be sure to do so before it’s too late.

Save more for retirement. Maximize your contributions. If you’re not sure how much you’ve put into your retirement account for the year, you can check with your benefits provider and make necessary adjustments for this year limits.

Check up on your insurance policies. Disability and life insurance aren’t cheery topics but making sure you have all your essential paperwork and policies in place can help you relax and enjoy the season. Take time to make sure everything is up to date and you have the coverage you and your family need.

Getting Outdoors This Fall. The air is getting colder, the wind is picking up and your instincts are starting to tell you that it’s time to hunker down indoors. Don’t do it.

Fall is the best time of year to get outside and enjoy the fresh air before winter’s chill numbs your fingers. It’s a great time to get your kids some exercise and make memories that will last a lifetime.

Regions across the United States become playgrounds in the fall. Whether you are out raking leaves or building your first campfire, everything becomes more fun. Kids especially love to be outside exploring and trying new things as the weather cools down. The good news is that budget-friendly activities are as plentiful as apples in the fall…

• Visit a U-Pick – Fall is harvest season, which means there are plenty of opportunities to pick pumpkins, apples, pears, and blackberries, and to indulge in home baked apple pies and homemade apple cider.
• Take a Road Trip – Fall is best experienced in person, in the thick of the woods, so that you can use all your senses. Visit a local city, state or national park – take the drive, and step outside.
• Run a 5K, 10K or Marathon – Fall is a great time to get in shape for a challenging race because it’s far easier to run in colder weather. You’re also more likely to stay in shape over the winter season and keep off those holiday pounds if you establish a fitness routine in the fall.
• Plant Spring Bulbs – Plant the following bulbs in the fall for spring blooming: Tulips, Crocuses, Daffodils, Hyacinths, Irises & More.
• Go Tailgating – Create a football fund. One of the best ways to tailgate on a budget is to invite plenty of friends and ask them to bring drinks and a dish to share. Essential tailgating supplies include: A small grill, disposable plates, cups and utensils, garbage bags, table and chairs, a cooler, ice, water and soda, adult beverages, paper towels, a tent, music, FOOD.
• Volunteer – Your family can volunteer time to help seniors with fall chores. You might already know someone in your neighborhood that could use a helping hand. If not, contact your local senior center.
• Head to the Beach – Fall is a great time to visit the ocean because the summer crowds are gone, overnight accommodations and restaurants are usually cheaper by 25%+, and the temperatures are no longer sweltering. Another bonus is that fall storms frequently dredge up long-buried treasures like sea glass, which are easier to find when you are the only person on the beach.
• Other fun activities include – Visit a vineyard. Make S’mores. Visit a haunted house. Go Stargazing. Cook a meal over a campfire. Jump in a leaf pile. Collect pinecones and twigs to make a fall centerpiece for Thanksgiving. Go for a walk around the neighborhood with your kids. Visit a local Oktoberfest. Host an outdoor Thanksgiving this year. Take your kids fishing. Exercise or do yoga outdoors. Visit your local zoo. Play hide and seek.

Autumn will come and go before you know it, which is why trying to get outside and enjoy it is so important. Soon, you’ll be holed up indoors kicking yourself for not going apple picking when you had the chance. So, get out there. What is your favorite part of fall? Do you have any favorite activities you enjoy doing with your family?

Part 3 – Opening a brokerage account.

Signing a new account agreement.

• You should carefully review all the information in this agreement because it determines your legal rights regarding your account.
• Do not sign the new account agreement unless you thoroughly understand it and agree with the terms and conditions it impose on you. Do not rely on statements about your account that are not in this agreement. Ask for a copy of any account documentation prepared for you by your financial professional.
  • The new account agreement requires that you make critical decisions:
    • Who will make the final decisions about what you buy and sell in your account?
      • You will have final say on investment decisions unless you give “discretionary authority” to your broker. Do not give discretionary authority to your broker without seriously considering the risks involved in turning control over your money to another person.
    • How will you pay for your investments?
      • Most investors maintain a “cash” account that requires payment in full for each security purchase.
      • A “margin” account instead of “cash” allows you to buy securities by borrowing money from your broker for a portion of the purchase price. Be aware of the risks involved with buying stocks on margin. Beginning investors generally should not get started with a margin account.
    • How much risk should you assume?
      • In a new account agreement, you must specify your overall investment objective in terms of risk. Categories of risk may have labels such as “income”, “growth”, or “aggressive growth.” Be certain that you fully understand the distinctions among these terms and be certain that the risk level you chose accurately reflects your age, experience and investment goals. Be sure that the investment products recommended to you reflect the category of risk you have selected.

How can I protect myself?

• Ask questions! You can never ask a dumb question about your investments and the people who help you choose them, especially when it comes to how much you will be paying for any investment both in upfront costs and ongoing management fees.
  • What training and experience do you have? How long have you been in business?
  • What is your investment philosophy? Do you take a lot of risks or are you more concerned about the safety of my money?
  • Describe your typical client. Can you provide me references, the names of people who have invested with you for a long time?
  • How do you get paid? By commission? Based on a percentage of assets you manage? Another method? Do you get paid more for selling your own firm’s products?
  • How much will it cost me in total to do business with you?

How should I monitor my investments?

• Some people like to look at the stock quotations every day to see how their investments have done. Some people prefer to see how they’re doing once a year. What’s best for you is most likely somewhere in between. A quarterly update call with your financial professional is a smart strategy.
• It’s not enough to simply check an investment’s performance. You should compare that performance against an index of similar investments over the same period to see if you are getting the proper returns for risk that you are assuming. You should compare the fees and commissions that you’re paying to what other investment professionals charge.
• While you should monitor performance regularly, you should pay close attention every time you send your money somewhere else to work.
• Every time your buy or sell an investment you will receive a confirmation slip from your broker. Make sure each trade is completed to your instructions. Make sure the buying or selling price was what your broker quoted. And make sure the commissions or fees are what your broker said they would be.
• Watch out for unauthorized trades in your account. If you get a confirmation slip for a transaction that you didn’t approve beforehand, call your broker.

Part 2 – Making Money Grow

The two ways to make money.

• You work for money.
• Your money works for you.

Your money can work for you in two ways.

• Your money earns money.
• You buy something with your money that could increase in value.

The differences between saving and investing.

• Saving – Your savings are usually put into the safest places, or products, that allow your access to your money at any time. Some deposits in these products may be insured by the FDIC or the NCUA.
• Investing – When you invest, you have a greater chance of losing your money than when you “save”. The money you invest in securities, mutual funds, and other similar investments typically is not federally insured. You could lose the amount your have investment. But you also have opportunity to earn more money.

What about risk?

• All investments involve taking on risk. It’s important that you go into any investment in stocks, bonds, or mutual funds with full understanding that you could lose some or all your money in any one investment.
• It is often said that the greater the risk, the greater the potential reward in investing, but taking on unnecessary risk is often avoidable.
• Investors best protect themselves against risk by spreading their money among various investments – “diversification.” “Don’t put all your eggs in one basket.”

What are the best investments for me?

• The answer depends on when you will need the money, your goals, and if you will be able to sleep at night if you purchase a risky investment where you could lose your principal.

What are investments all about?

• When you make an investment, you are giving your money to a company or enterprise, hoping that it will be successful and pay you back with even more money.

The main differences between stocks and bonds.

• Stocks – If the company profits or is perceived as having strong potential, its stock may go up in value and pay dividends. You make more money than from bonds.
  • Risk – The company my do poorly, and you’ll lose a portion or all your investment.
• Bonds – The company promises to return money plus interest.
  • Risk – If the company goes bankrupt, your money will be lost. But if there is any money left, you will be paid before stockholders.

Mutual Funds – What are they?

• A mutual fund is a pool of money run by a professional or group of professionals called the “investment adviser.” In a managed fund, after investigating the prospects of many companies, the fund’s investment adviser will pick the stocks or bonds of companies and put them into a fund.
• Investors can buy shares of the fund, and their shares rise or fall in value as the values of the stocks and bonds in the fund rise and fall.

Do I need an investment professional?

• Are you the type of person who will read as much as possible about potential investments and ask questions about them? If so, maybe you don’t need investment advice. But if you’re busy, you may need professional investment advice.
• Investment professionals offer a variety of services at a variety of prices. It pays to comparison shop.

Before you invest always check with the SEC and your state’s securities regulator.

• Is the investment registered?
• Have investors complained about the investment in the past?
• Have the people who own or manage the investment been in trouble in the past?
• Is the person selling me this investment licensed in my state?
• Has that person been in trouble with the SEC, my state, or other investors in the past?

The best way to choose an investment professional.

• Ask your friends and colleagues who they recommend.
• Get several recommendations and meet with potential advisers face-to-face.
• Make sure you get along.

Make sure you understand each other. After all, it’s YOUR money.