Education Articles

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After Lengthy Decline, Certificates Rebound

CDs have experienced a renaissance of sorts and are well worth a look, with the highest rates in a decade, and SELCO’s among the best anywhere. The year was 1981. The United States was feeling the sting of  two full-blown recessions . Inflation rates hovered around 10–13%, unemployment rose to 10%, and interest rates skyrocketed to 21%. Until th...
Planning Your Future Forming Money Habits

Signs You Might Be Living Beyond Your Means

In an age of plastic spending and mobile payments, living within  your means can easily slide into living  beyond  your means. And many of us fall into this trap without realizing it. Getting out of this trap can be “easier said than done,” said Nick Manley, Financial Advisor for SELCO Investment & Retirement Services. “Living within your means...
Mastering Credit Planning Your Future Forming Money Habits

What To Know About ‘Buy Now, Pay Later’

They’re so easy to use, they almost seem too good to be true. Is there a catch? With Buy Now, Pay Later (BNPL) services, you can walk away with that expensive exercise bike, entertainment system, sectional sofa, or anything else that catches your eye, even if you can’t cover the costs in the moment. And in return, retailers can make more sales b...
Forming Money Habits Knowing Your Payment Options

Looking To Consolidate Debt? Try a HELOC.

What would you rather have—several hundred dollars in monthly payments spread across all your credit cards or one smaller payment over a set number of years? If you’re a homeowner, a home equity line of credit (HELOC) may be what you need to reel in that pesky debt. Aside from being fun to say, a HELOC (hee-lock) can be more than just a means of...
Planning Your Future Forming Money Habits

Crypto May Be Hot, But These Investment Options Are Safer

If you haven’t heard, cryptocurrency is the flavor of the month in the investment world. More than 20 million Americans own some form of  cryptocurrency . With Bitcoin leading the way, the  global market capitalization  of crypto is hovering around $2 trillion. El Salvador became the first country to  adopt Bitcoin as legal tender . Crypto was...
Planning Your Future Forming Money Habits

5 Misconceptions About CDs

A certificate of deposit (CD), known as a certificate at credit unions, is a safe way to invest money for a fixed period of time at a specified interest rate. There’s a lot CDs have to offer (and not only for those with money to burn). Interest rates continue to rise, so there’s no time like now to consider this investment option. Here are a few...
Planning Your Future Forming Money Habits

Start Saving Now for Your Child’s Education

It should come as no surprise that college tuition costs are rising, but the extent to which these costs are outpacing inflation can be alarming. In the past 30 years, the  average cost of tuition  at public four-year institutions has more than tripled. And this doesn’t even account for costs of housing, books, meals, etc. If the trend continues...
Planning Your Future Forming Money Habits

Time to Rethink Your Savings Strategy

If you’re like many Americans, chances are in recent years you have put saving on your back burner. The personal savings rate across the nation dipped to 2.4 percent of disposable income earlier this year, the lowest rate since 2005, and that trend is certainly alive and well in Oregon. The low savings rate sounds alarming. In context, though, i...
Planning Your Future Forming Money Habits

Wants vs. Needs: Finding the Perfect Balance

The end of the year (or beginning of a new year) is a great time to take a look at your household’s budget and start planning for the new year. Whether you’re creating a new budget from scratch or reviewing previous months’ expenses, it’s helpful to consider if those expenses fall into the category of a  want  or a  need . What’s the difference?...
Forming Money Habits

Organizing Your Household Finances

Stop for a moment and think about all the bills, receipts, paystubs, account statements, and other essential financial paperwork that comes your way on a monthly basis. It’s enough to make your head spin. Thankfully, an organizing system for your financials that you’re comfortable with can make all the difference. File it all away Whether it’s i...
Forming Money Habits
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