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Education

Renting or Buying Graphic
EducationLoans

Renting vs. Buying – Should I Purchase a Home or Continue Renting?

by Tampa Postal FCU

Given the rather high upfront costs associated with buying a home, it’s no surprise most young people choose to start their independent lives renting instead. As they advance in their careers, save money, get married, and start families, most end up buying a home. Many older homeowners, on the other hand, are often ready to downsize and end up selling their home and moving into a rental.

Purchasing a home is an investment in your future. It’s a HUGE decision and should not be taken lightly. If you’ve been renting for a long time and feel like you’re ready to buy a home, or are a homeowner wondering if renting makes more sense, you’re in the right place! In this article, we will be discussing the pros and cons of renting and buying. Hopefully we will be able to give you better insight into your options, facilitating your decision-making process.

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Refinance Mortgage Graphic
EducationLoans

When Is the Best Time to Refinance a Mortgage?

by Tampa Postal FCU

If you’re a homeowner, you’ve probably thought about refinancing your mortgage at some point. After all, home loans are long-term; usually ranging from 10 to 30 years. A great deal can happen in that time, including interest rates dropping, your home value increasing, the introduction of new loan types, among other market changes.

While refinancing your mortgage may seem to be extra work for you, lowering your interest rate by just 1 percent on a 30 year mortgage could save you thousands of dollars. Perhaps you’re in the position to pay off your loan quicker and want to reduce your term. There are many perks to refinancing we will discuss in this article.

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Saving Money Graphic
Education

Know Where Your Money Goes

by Tampa Postal FCU

Saving money is hard; especially when the majority of Americans are living paycheck-to-paycheck. It’s a sobering statistic considering most American households are labeled as middle class. Some families have dealt with an unexpected situation that has caused them to fall behind financially. Others may simply not make enough to keep up with their increasing bills. Regardless of the reason, not making enough money to pay bills or deal with an emergency is a serious problem millions of Americans are dealing with today.

The truth is that most Americans don’t have the money management skills necessary to budget effectively. But don’t worry, these are skills you can learn and master with some time and effort. Learning these skills will help you better understand where your money goes, which is the first step in having financial control.

If your family has been living paycheck to paycheck, your best option is to create a budget and get back control of your finances. Most people cringe at the thought of having to stick to a budget, but having a budget is the difference between having to scrape by and finally having enough to save. You need to be aware of where your money is going so that you can take steps toward making better decisions. We’ve put together a guide on how to evaluate your expenses and create a budget; money management skills we know you can master!

Here’s how you can stop living paycheck-to-paycheck by building an accurate and effective budget:

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New Baby Graphic
Education

Preparing for a Bundle of Joy Without Spending a Bundle of Cash

by Tampa Postal FCU

Congratulations! You’re going to have a baby! Now what?! You’re probably wondering how you’ll possibly afford to have a baby. Raising a child can be pretty expensive, but don’t worry. You’ve got plenty of time to prepare for your little bundle of joy financially and emotionally. We’re going to give you some pointers on how you can financially prepare for your baby:

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College Savings Graphic
Education

Small Steps for College Saving

by Tampa Postal FCU

As a parent, one thing that is always looming in the background is your child’s college education. Yes, you want the best for your child – to send them to a good school; to make sure they get a great education. But, all you hear about in the news is sky rocketing college prices. Not to mention you’re trying to save for your own retirement and everyday expenses. So how do you make it all work?

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