Everyday Finance

Everday Finance Blog

Everyday Finance is your go-to resource for navigating life's financial twists and turns. We'll share advice on buying a home, financing a car, paying for college, saving for retirement, and everything in between. At Towpath Credit Union, we aim to guide and educate our members, and Everyday Finance is just one of the ways we can help.

5 ways to avoid overpaying on your car loan 

By PHILIP REED, NerdWallet/Jul 13, 2017
Posted by Michael Thompson July 14, 2017
When people go car shopping, they usually focus on the vehicle they want — not the loan that will pay for it. But good financing is the bedrock of a solid car deal, and missteps could cost you thousands. "Once you shake hands with the car
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Is refinancing your car loan worth it? 

Let's do the math and find out.
Posted by Michael Thompson July 13, 2017
A $20,000, 6 year car loan at a 10.4% rate equals monthly payments of about $375. After two years, the balance on the loan would be $14,657; but the consumer would still be facing $18,000 worth of payments ($375 for the next 48 months). If the
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Stop wasting money! 

How to cut back on “convenience vices” — but still have fun.
Posted by Michael Thompson July 10, 2017
From Mic.com You know perfectly well that eating out and hitting Starbucks more than a few days a week can wreak havoc with your budget. And while anyone can tell you that an easy way to save money is by cooking at home and avoiding coffee shops
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Get a $100 Cash Reward for Every New Line You Switch to Sprint 

Posted by Michael Thompson June 30, 2017
This new exclusive cash rewards offer is our best one EVER! Now, as a credit union member, you can earn $100 for every line when you switch to Sprint®. Here’s how it works: Members get a $100 cash reward for every new line when you switch
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Text Banking is Here and Ready to Go! 

Posted by Michael Thompson June 28, 2017
Text Banking is now available and it’s the easiest way to access your accounts. Whether you have a smartphone or a “dumb” phone, you will have access to your accounts in an instant. To get set up to use Text Banking, you must have your phone set
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How To Establish Credit Part 2: Cash Payments 

Posted by Michael Thompson June 22, 2017
I’ve paid for cash for everything my whole life. I’m not in any debt, isn’t that worth something? No. Unfortunately not. But Congratulations - You have the credit health of a eighteen year old! That’s okay though because you a have much more
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How To Establish Credit Part 2: Bankruptcy 

Posted by Michael Thompson June 20, 2017
My credit is horrible, I just got out of a bankruptcy. Sure you did, but you also just got a chance to start over. Actually, credit card companies are going to love you after a bankruptcy. Why? You can’t file again for a long time and they want
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How To Establish Credit If You’re A Young Adult, Recent Bankrupt, or Cash Buyer 

Posted by Michael Thompson June 16, 2017
Three very different people. Three very similar credit situations. On one hand they are extremely risky to a lender as they have no established history showing they pay people on time. On the other hand, they are a lender’s best opportunity for
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Consumers, be wary: Identity theft is on the rise 

Posted by Michael Thompson June 05, 2017
If you’ve been a victim of identity theft, you’re not alone. Thirty-three percent of Ohioans reported that they'd been victimized by fraud and/or identity theft in a year-end 2016 survey conducted by the Ohio Credit Union League. More could have
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Summer Vacations: 3 More Ways to Get More for Less 

Posted by Michael Thompson May 23, 2017
Part 2 on how to save on your Summer Vacation. 3. Book airfare the smart way and be flexible Airfare is one of the biggest costs of travel and also one of the most variable. Prices are based on supply and demand and change frequently.
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