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A checking account that makes you pay to access your own money is no friend to your finances. Truth is, plenty of banks charge fees that can chip away at your account balance. Not so at Advancial.
a woman smiling Advancial Checking 101: Smart Ways to Manage Your Money

A checking account that makes you pay to access your own money is no friend to your finances. Truth is, plenty of banks charge fees that can chip away at your account balance. Not so at Advancial. Our checking accounts are designed to benefit your bottom line, not a bank’s shareholders.

Check out the Advancial difference

According to Bankrate.com, the average monthly service fee for non-interest-bearing checking is $5.57 – you’d need an average daily balance of more than $600 to avoid the fee. Interest-bearing accounts charge a whopping $14.35 a month on average (and you’d need to maintain an average daily balance of more than $6,000 to avoid the fee – yikes!). Overdraft fees average $33.23, and the average surcharge to use an out-of-network ATM is $3.02.*

A bank customer with an interest-bearing account who is unable to maintain the average daily balance could end up spending more than $172 a year in service fees. And that’s before adding in overdraft and foreign ATM fees.

In contrast, Advancial’s Ultimate Checking account offers:

  • No monthly service fee
  • No minimum balance**
  • No overdraft transfer fee
  • No foreign transaction fee
  • $0 fee on non-Advancial ATM transactions***
  • Free online and mobile banking
  • Free checks

And that’s not all …

Our Ultimate Checking account also provides benefits you won’t see in most other checking accounts, including:

  • Dividends. Earn dividends on your Ultimate Checking balance.**
  • Debit card rewards. Earn 1 point for each $5 spent on your card. Redeem for travel, cash back or choose from a long list of gift cards and merchandise.
  • Save UpSM program. When you enroll in this program, Advancial rounds up all debit card transactions to the nearest dollar and transfers that amount to your savings account. It’s an easy, automatic way to build your savings or emergency fund. That change adds up!
  • CO-OP Shared Branch Access. Enjoy access to 30,000 surcharge-free ATMs and more than 5,000 locations nationwide through the CO-OP Shared Branching Network.
Teens? Expats? We’re here for you, too

We want our younger members as well as new arrivals to the U.S. to benefit from Advancial’s checking programs:

Dinero Checking is designed for teens age 13 to 18. It offers many of the same features as Ultimate Checking – no minimum balance, free ATMs, no monthly fee, debit card rewards and the Save Up program. Dinero Checking helps teens learn about managing money, while allowing their parents to keep track of their spending (an adult is required to be co-owner of the account).

Inbound USA Checking is designed for recent expats. When you move to the U.S. for work or studies, it may be difficult to open a bank account. Inbound USA Checking makes it simple, with free checking and ATM access as well as no foreign transaction fees. Major banks in the U.S. may also offer expat banking accounts, but monthly fees usually start at $10 a month.

Start making the most of your money today with your Advancial membership. All it takes is a $5 deposit in an Advancial savings account and you’ll be on your way to taking advantage of everything we have to offer. To learn more about eligibility or to apply for membership, visit any Advancial location or go online.

* Source: Bankrate’s 2018 checking account and ATM fee study, bankrate.com.

Getting out of debt may sometimes feel like digging out an entire beach with a child’s toy shovel. But ditching your debt is not impossible.

a couple sitting on the floor looking at bills Ditch the Debt


Getting out of debt may sometimes feel like digging out an entire beach with a child’s toy shovel. But ditching your debt is not impossible. First, it’s important to remember that not all debt is bad. Some debt helps you live a more fulfilling life. For example, student loans may allow you to get the training or degree you need to land a good job. Mortgage loans can allow you to own your own home – few people can purchase a home with cash on hand. Even an auto loan may be considered good debt if it means you can buy a safe and reliable vehicle for transportation.


 

So, what’s bad debt?

Personal loans, credit cards and store cards are not in themselves bad. But having too much debt is bad if you are having difficulty making payments. You may be in over your head if you answer yes to any of the following questions:

  • Do you carry balances from month to month on more than one credit card or store card?
  • Do you pay only the minimum due each month?
  • Do you sometimes exceed your credit limit?
  • Have you had more than one late payment penalty in the past year?
  • Have you ever taken out a payday loan to cover bills?

 

Two strategies for paying off debt

How you work towards paying off debt depends largely on what motivates you. For example, if you want to pay the least amount of interest, pay off the highest-interest-rate debt first:

  1. Pay as much as you possibly can each month on the highest-rate debt, while paying the minimum on other debts.
  2. Once that bill is paid off, direct the money you would have paid to the next-highest-rate debt, while continuing to pay the minimum on remaining balances.
  3. Repeat until debt is gone.

If you are more likely to be motivated by seeing entire balances disappear more quickly, try the snowball method:

  1. Pay as much as you possibly can each month on the bill with the lowest balance. Pay the minimum on other debts.
  2. Once you pay off the smallest bill, start paying as much as you can on the next lowest bill. Continue paying the minimum on other debts.
  3. Repeat until debts are paid.

Of course, neither of these strategies will work unless you stop adding more debt to your load. Commit to getting spending under control. Stay away from the mall, opt to pack a lunch and make specialty coffee a nice reward, not a daily habit.
 

Other debt-reduction strategies

Perhaps you’ve accumulated a wallet full of high-rate store cards because of the promotions they offer. In the long run, what you save on promotions is likely far less than what you are shelling out in interest.

Consider doing a balance transfer to a lower-rate credit card. A balance transfer may result in a more affordable monthly payment and fewer bills to keep track of. Plus, you may save hundreds of dollars in interest payments.

If you qualify, the Advancial Visa® Rewards Plus offers:

  • No balance transfer fees
  • No annual fee
  • 0% interest for 12 months on balance transfers and purchases
  • After that, your interest rate will be 8.90% - 14.90% based on creditworthiness – even the highest rate is way less than the average store card!

Imagine how fast debt could melt away if you are managing one monthly payment at a much lower interest rate.


Save on financial products

Another debt-reduction strategy is simply to lower your monthly costs. For example, are you paying a monthly fee for a checking account? Getting hit with foreign ATM fees just to get to your money? Advancial members have access to our Ultimate Checking account , which features no monthly service fee, no minimum balance requirements, unlimited free ATMs worldwide, free mobile banking - you name it, we’ve got it. .

Getting out of debt isn’t easy, but it’s definitely worthwhile. Advancial is here to help you make the most of your money with free products, low rates and superior service the big banks just can’t match.

Who wouldn’t love some extra pocket money? Here are six ideas for easy side hustles. Maybe one or more of them is right for you.  
article preview image Six Side Hustles Anyone Can Do

Who wouldn’t love some extra pocket money? Here are six ideas for easy side hustles. Maybe one or more of them is right for you.  

1.) Play with dogs

When you offer your services as a dog-walker or pet-sitter you can charge as much as $25 an hour, depending on the going rate in your area. Hang flyers to advertise your services, post on the Nextdoor app or sign up with a dog-walking app like Rover or Wag. These Uber-like services match pet owners with sitters or walkers for a small fee.

2.) Social media guru

Offer your services to local and remote businesses as their social media brander. Depending on your skill set, you can write the company blog posts, manage their social media presence or focus on graphic design. 

3.) Yard work

Do you enjoy landscaping or gardening? Are you an expert lawn mower? Get paid for tending to people’s yards. You can charge by the hour or per job. Check out some other local yard workers to get an idea of fair asking prices.

4.) Take online surveys for pay

Make the time you spend online count by taking surveys on sites like Survey Junkie and Swagbucks. Most of these sites will pay you as soon as you complete a survey. It’s an easy way to pad your wallet with extra cash.

5.) Work for a rideshare service

These services allow you to set your own schedule and decide how many hours you want to devote to driving passengers. If you don’t like the idea of strangers riding in your car, consider a similar service but for food ordering and delivery. With this side hustle, you get paid to pick up fast-food meals and deliver them to customers, with the same flexible terms.  

6.)  Tutor

Are you a geometry whiz or a science buff? Offer your services as an individual tutor for school-aged children and you’ll have a meaningful way of earning some extra money.

Use this list to find the side hustle that works for you and start boosting your income!

 

article preview image Advancial mourns the loss of longtime volunteer
Advancial is saddened by the loss of Carl Young, longtime credit union advocate and Advancial’s Chairman of the Board, who passed away on July 24, 2019.
 
Carl joined Advancial in 1963 when he was a young executive at Atlantic Richfield. He began his service to the credit union more than 40 years ago when he was asked to serve on the Supervisory Committee in 1977. A few years later, he transitioned to the Board of Directors and rose to Chairman where he has served ever since.
 
Carl’s dedication and commitment to Advancial and our members has been a vital part of our growth and success. His wisdom and long-term perspective helped guide and shape Advancial through many transitional moments in our history. We have been privileged to have his service for more than four decades and he will be forever remembered as a great leader, colleague and friend.
 
Advancial extends its deepest sympathies to Margaret, his beloved wife of nearly 62 years, and the entire Young family.  Thank you for being part of the Advancial family and for sharing Carl with us all this time. We are honored to have known him.
 
Steep cab fees and car rentals are some of the best ways to kill a vacation budget. Read on for five ways to get around for less while on your dream vacation. 
article preview image 5 Ways to Save on Vacation Transportation Costs
Steep cab fees and car rentals are some of the best ways to kill a vacation budget. Read on for five ways to get around for less while on your dream vacation. 
 
1.) Share a ride 
Ridesharing companies, like Uber and Lyft, are changing the way people get from point A to point B all around the world. If you haven’t already done so, download each service’s app and input your information so you can order and pay for a ride in just seconds while on vacation. To compare prices from both services at a glance, check out apps like RideGuru and RideshareApps. 
 
2.) Hop on a bus or board a train 
Buses and trains can be an affordable, convenient and enjoyable way to get around in many countries. Western Europe, in particular, is famous for its super-efficient public transportation system. 
Do your research before using public transportation. It may be worth your while to purchase a daily or weekly pass for unlimited rides on the city’s bus or train system. If you’ll be visiting several different countries in Europe, consider purchasing a Eurail pass to help you get from country to country in an easy, inexpensive way. 
 
3.) Rent or borrow a bike 
Pedaling your way through town is becoming increasingly popular in major cities throughout the world. For a nominal fee, you can explore the city up close, help keep the air clean and get a wonderful workout at the same time. 
 
4.) Take a walk 
Instead of calling a cab or Uber, consider walking. In many crowded cities with an impossible traffic problem and expensive parking fees, this can actually be a faster way to get around. 
 
5.) Rent a car 
Sometimes, the best way to get around when on vacation is by rental car. This is especially true if you’re traveling to a city that is not known for its efficient public transportation system and/or if you’ll be staying in your vacation spot for a while. 
 
Before you sign up for a rental, keep these tips in mind: 
 
  • Book early. For the best deals, keep a watch on car rentals in the area you’ll be visiting in the weeks (or even months) leading up to your vacation. Car rentals sometimes offer random deals on their rentals, but only for tourists who book during a specific window.
  • Don’t rent a car at the airport. On-the-spot car rentals at the airport tend to inflate their prices according to demand.
  • Go small. A compact car will be cheaper, easier to maneuver through narrow roads and simpler to park in crowded spaces.
     
Happy travels! 
 
SOURCES:
https://travelmamas.com/tips-saving-money-vacation-transportation/
https://ordinarytraveler.com/save-money-travel-transportation
https://www.mintnotion.com/travel/10-travel-expenses-youre-forgetting-vacation-budget/
 
 
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Savings Tips for Every Life Stage
Whether you’re just starting out in your career or nearing retirement, maximizing your savings may help you reach your goals and overcome any financial bumps in the road. In your twenties Young adults may be faced with rent, vehicle a…

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Six Side Hustles Anyone Can Do

Who wouldn’t love some extra pocket money? Here are six ideas for easy side hustles. Maybe one or more of them is right for you.  
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Consider the Benefits of Using More Energy-Efficient Appliances

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Young accumulators in the workplace

Understanding your employee population helps you target and assist varying degrees of financial life-stages, personality types, behavioral influencers and current needs. According to the U.S. Bureau of Labor Statistics, workers between the ages of 16-34 will make up 33% of the labor force by 2030.
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