5 Ways to Spend Less on Food

When it comes to our finances, most people underestimate just how much they spend on food.  And while we can get rid of other expenses, food is the one line item that we cannot eliminate. We can however, spend a lot less with a bit of thought and planning.

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How to Choose the Right Loan – the Ins and Outs

If you are looking for a mortgage, a home equity loan, an auto loan, or a personal loan, you want to feel like you are getting the best loan available. Keep these items in mind while you are shopping for a loan:

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Five Ways to Get Out of Credit Card Debt

Depending upon how much credit card debt you have, being debt-free can seem daunting or even unattainable. Developing a plan is the most important first step to attaining a debt-free life. Without a plan, it can feel like you’re not making any noticeable progress. Here are five important steps to take to get rid of your debt.

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5 Tips on Caring for Your Aging Parents Without Going Broke

“Once a man, twice a child.”  People from the Caribbean know exactly what that means.  It’s the inevitable circle of life.  Humans begin life as helpless children and later, we again become dependent on others for assistance. In our forties and fifties, we will all see our parents aging and becoming more dependent.  Then before we know it, the tables become completely turned and we begin to assume the role of caretakers.

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Tips to Keep You Safe During Tax Identity Theft Awareness Week, January 29 - February 2, 2018

It’s tax time! Have you ever considered that you could be at risk for tax identity theft? Tax identity theft occurs when a thief files a fraudulent tax return using your Social Security number and collects your refund. It also occurs when someone uses your Social Security number to earn wages and sticks you with the tax bill. Often, people do not realize they are the victim of tax identity theft until after the crime, when they try to file their taxes.

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The End of the Home Equity Loan Interest Deduction – What Does It Mean For You?

As the saying goes, all good things must come to an end. Homeowners have been able to deduct interest paid on home equity loans and lines of credit for decades. Thanks to the new tax law, that deduction is now gone.

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10 Ways to Save on Holiday Shopping

‘Tis the season.  No matter what we say, most of us will end up spending a significant amount on holiday gifts. After all, no one wants to be a Scrooge. But never fear.  There are ways to save hundreds of dollars this year on your holiday shopping, both online and in person.  Here are 10 suggestions:

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Avoiding Flood Damaged Cars

After the recent catastrophic storms in the southern United States, it is estimated that as many as 500,000 cars may have been flooded and seriously damaged.  A large percentage of these vehicles will find their way into the market for re-sale.

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We Florida Financial Celebrates People-First Banking

On October 19, 2017, We Florida Financial, along with more than 56,000 credit unions around the world, will celebrate International Credit Union Day (ICU Day), and the philosophy and achievements of the credit union movement.

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Determining Wants vs. Needs to Reach Financial Independence

Here’s something we can all agree on: it would be nice to save more money. But you don’t necessarily have to earn more in order to save more.

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Credit Union Memberships: Debunking Common Misconceptions

When it comes to credit union memberships, a lot of people are hesitant about joining because of common misconceptions. Despite the high interest rates and fees imposed by banks, people still choose them over credit unions when in fact, there are numerous benefits to becoming a member—benefits you won't receive from traditional financial institutions.

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Car Loans Through We Florida Financial

Do you have your eye on a shiny new vehicle that would fit perfectly in your driveway? Or will you soon need a bigger car, an additional car for a new driver, or a more energy-efficient vehicle? Purchasing a car or truck is a big decision with many variables, and we’d like to alleviate worries about one of those variables: the car loan.

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Retirement Planning 101

Retirement. It’s not exactly like death and taxes but it’s pretty much inevitable. So like everything else in life, it pays to do a little planning. With this wise thought in mind, I headed off on Tuesday, June 13 to the Members Financial seminar on Social Security at the credit union’s Pembroke Pines branch.

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Mortgages in Florida

Reasons To Be Optimistic About Mortgages in Florida

Home prices in Florida are steadily rising. This means it's a more advantageous period for buyers who want to buy or swap homes, especially compared to market conditions years ago. For mortgages in Florida that suit every type of budget, We Florida Financial is a trusted name among credit unions in the area.

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Vehicle Refinancing with We Florida Financial

When Should You Look into Vehicle Refinancing

First-time car owners aren't all the same. Some may spend plenty of time finding the best deal while others let down their guard and trust whatever financing the local dealership offers. If you've realized too late that you signed up for a bad deal, vehicle refinancing can give you some breathing room in your budget and extra savings in your wallet.

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Four Major Myths about Credit Unions

While credit unions have been around for more than a century, plenty of consumers are often faced with myths about what credit unions are – or aren’t. Credit unions are an excellent alternative to banks, and often have plenty more to offer. Let’s take a closer look as we debunk some misconceptions about credit unions.

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Join a credit union: Why it's recommended for new graduates

Why New Graduates Should Join a Credit Union

Being a new graduate, and presumably headed towards joining the workforce, becoming a member of a credit union is a wise move. But why should you join a credit union? First of all, it can provide the assistance required when learning the ins and outs of saving and borrowing—better than a bank. Credit unions also cater to fewer "clients," which means that your financial questions and needs are given more attention.

When the time comes that you need to take out a loan—whether you need the money to purchase a car, finance a home, fund your startup, or for other purposes—a credit union can provide you with the cash you need, usually at lower interest rates than banks.

For questions and more information on how to join a credit union, please call us at 954-745-2400.

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Car Loans: What Lenders Look For

Increasing Your Approval Rate for Car Loans

When shopping for car loans, you may be wondering how different lenders come up with a range of rates for you. While they may have their own formulas and calculations, they are generally guided by the three C’s: collateral, capacity to repay, and credit history.

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Home Equity Lines of Credit vs. Home Equity Loans

Home Financing 101: Home Equity Lines of Credit vs. Home Equity Loans

When it comes to home financing, a home equity loan can be categorized in two ways: a home equity line of credit and a home equity loan. While they may appear similar at first, they have fundamental differences that make one more appropriate than the other, depending on your needs.

A home equity line of credit is a revolving credit line with a credit limit. Similar to how credit cards work, you can borrow against your line of credit multiple times, when you need it. As you pay it back, the funds are available to you to use again.

A home equity loan works differently. You receive a one-time lump sum and pay it back in equal monthly installments over the term of the loan.

Both types of loans use your home as collateral, and may be used for educational expenses, home improvement, or to pay for other unplanned expenses.

For information on home financing and home equity loans, please contact us at 954-745-2400.

 

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Mortgages: Should you go for a fixed rate or adjustable rate?

Why Should I Switch to a Fixed Rate Mortgage? Or Adjustable?

Generally, mortgages can be categorized as fixed rate and adjustable rate. As their name implies, fixed rate mortgages will mean you have a fixed interest rate and steady monthly payments. An adjustable rate mortgage means your monthly payments could change if interest rates change.

Both types of mortgages have their advantages. For example, when interest rates are low or if you think rates will go up in the future, it makes more sense to switch to fixed rate mortgage from an adjustable rate mortgage. This makes the most sense if you know you are going to stay in your home a while.

On the other hand, if you see yourself selling your home in a few years or are looking to pay off your loan quickly with the lowest rate possible, consider moving to an adjustable rate mortgage from a fixed rate mortgage. If you can afford it, pay more than the required payment; the extra money will pay down your principal balance.

To find out which solution is best for you, contact a Mortgage Loan Officer in your area. They can help you calculate the costs and savings to determine which type of mortgage is best for you and your family.

 

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