SIU Credit Union Blog

Category: Financial Resources (page 1 of 10)

Feeling Stuck In Your Car Loan? Might Be Time To Shop Around!

Some bills can’t be changed. For other bills, though, a little legwork can make a big difference in your monthly payment. Your car payment is a great example. Refinancing your vehicle loan can lead to a lower monthly payment, a shorter payment term or both! It depends on various factors, including the value of your vehicle, how much you owe and your credit standing.

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Find out your credit score – for free!

What’s your credit score? Find out for free

Your credit score shouldn’t be a mystery. That’s why SIU Credit Union has teamed up with NerdWallet to bring you a free weekly credit score, detailed credit report and credit monitoring.  Sign up, free here.

 

Why should you think about your credit score? More money in your pocket

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Bring Back The Brown Bag: Saving Money On Lunch The Old-Fashioned Way

Although it’s been said breakfast is the most important meal of the day, there may be a new contender rising. Recent studies are showing that employees who take a designated lunch break are more likely to be productive in the afternoon and avoid long-term burnout. Breakfast has clearly been shoved out of its once-coveted role of “most important meal,” and the reign of lunch has begun.

Lunch’s sudden rise to popularity hasn’t come without one or two negative side effects. The most worrying of these is how often Americans are dining out for lunch per week and how much they’re spending when they do. If you’re looking for an alternative to eating gourmet sushi five times a week, the best option is one that’s been with us since we were children: the brown bag lunch.

When you’re actually paying for one lunch, it might not seem that expensive. Eating four lunches out a week at $10 each has to be cheaper than throwing away $50 on groceries at the start of the week, right? Actually, studies have shown that eating out for lunch can drain anywhere between $1,500 and $2,500 per year from your budget, depending on where and how often you go out to eat. That might seem like an outrageous amount, but the math is pretty clear. Eating out four times a week, with each meal costing about $12, for 48 working weeks in the year, gives us a total of $2,304.

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Do’s and Don’ts of Home Office Tax Deductions

If you run a business from your home or telecommute for your employer, you may be eligible to claim some expenses on your federal income taxes. Home office deductions can be tricky, and many people have gotten into trouble with the IRS for being too liberal with these deductions. However, the IRS has simplified the rules in recent years to make it easier for people working from home.

Follow these do’s and don’ts to maximize your deductions and minimize your risks:

Do make sure that what you’re claiming as your home qualifies as a home. According to the IRS, this includes renting or owning a house, condominium, apartment, townhouse, boat or mobile home. It doesn’t include a hotel, motel or inn.

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INFOGRAPHIC | Your Road Map to Debt-Free Land

Your Road Map to Debt-Free Land

Via: NerdWallet

Shovel Away Holiday Debt

Visa Balance Transfer

Is your post-holiday debt piling up? Shovel away holiday debt when you move your balance to a low-rate SIU Credit Union Visa® credit card. Introductory rates are 3.9% APR* for 12 months and no balance transfer fees.

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