Everyday Finance

Everyday 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.

Millennials Have Difficulty Leaving the Nest 

February 05, 2018 Categories: Credit Scores Millennials Mortgages Student Loans
Millennials, also known as Generation Y have had a difficult time leaving the nest. While there are different ranges given for their birth years, they can be roughly defined as those born between the late 1970's and the year 2000. Many define the
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Time to recover from the holiday hustle! 

Posted by Jeremy Wascak January 17, 2018

with a special, “catch-your-breath” rate for 12 months on balance transfers and new purchases.

Click here for complete information.

Getting Through The Winter Blues 

Posted by Jeremy Wascak January 17, 2018
Winter brings cozy fires, happy holidays and fun sports like ice skating and skiing. Sometimes, though, winter brings other, less welcome things. With sunshine being scarce, many people get the winter blues. This depressed state is often made
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Announcing an upgrade to your Online Bill Pay! 

Posted by Jeremy Wascak January 16, 2018

Starting Wednesday, January 17, your Towpath Credit Union Online Bill Pay homepage will be an account dashboard that allows you to monitor payment activity at a glance.

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Your Credit Union is Closing Early Today 

We will reopen tomorrow at 9:00 AM
Posted by Jeremy Wascak January 12, 2018

Due to the severe weather conditions, all branches of Towpath Credit Union will be closing early today, Friday, January 12, at 1:00 PM. All branches and drive-thrus will reopen tomorrow, January 13, at 9:00 AM.

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New Year, New Car 

Posted by Jeremy Wascak January 10, 2018

We're extending our Special Holiday Rates until the end of January! Get a 2017 or 2018 vehicle for as low as 2.95%* for up to 60 months!

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The Ten Worst Attitudes About Money 

Posted by Jeremy Wascak January 05, 2018

Do you struggle with talking yourself into keeping to a budget every month? Maybe you think you already have a handle on your spending, or maybe you just want your dessert first! We have some suggestions on how to fix a money mindset that isn't serving you.

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Another Year, Another Diet? 

We Weigh in on Weight Loss Apps
Posted by Jeremy Wascak January 04, 2018

If you’re looking to make 2018 the year you actually shed those pounds and keep them off, you might want to try a super-convenient weight-loss app. To help you find the one that best fits your needs, we’ve reviewed the top apps and highlighted the different features they offer.

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Fitness For Your Body And Wallet: Shedding Pounds Without A Gym Membership 

Posted by Jeremy Wascak December 18, 2017

If you want to get fit without spending a ton, here are some budget- and body-friendly ideas to help you have a healthier 2018!

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How To Be The Host With The Most Without Draining Your Account 

Posted by Jeremy Wascak December 18, 2017

Fortunately, it's possible to be a great host and a great saver at the same time. It's not easy, but you can put on a great holiday meal without breaking the budget. Try these three handy tips to save this year!

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Need a New Car? 

Put Your Tax Refund to Work for You!
Posted by Jeremy Wascak December 14, 2017

Take advantage of your tax refund to help finance your next car purchase. Let our team of loan professionals guide you through the lending process and put a new car in your driveway!

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Can You Put A Cap On Your Holiday Shopping At The Mall? 

Posted by Jeremy Wascak December 12, 2017

Don’t want to spend this coming January and February paying for your December shopping? Here’s how to watch the buck while cruising the aisles with thousands of fellow holiday shoppers.

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Surviving the Holidays With Your Sanity Intact 

Posted by Jeremy Wascak December 05, 2017

Read on for fantastic pre-and post-holiday tips to ensure you'll have a holly, jolly December without breaking the bank.

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Veterans Day 

Posted by Jeremy Wascak November 10, 2017

All branches will be open regular hours today, Friday November 10 and will be closed Saturday, November 11 in observance of Veterans Day. All branches will reopen Monday at the normal hours.

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Four Steps to Organizing Your Finances 

Posted by Jeremy Wascak October 26, 2017

A majority of the population will say they've been too busy with life to get a handle on their finances. Fortunately, there's a 4-step action plan to help you take control of your money.

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Home Equity Loans: Low-Cost, Tax-Advantaged Credit 

Posted by Jeremy Wascak October 03, 2017

If credit card payments are eating up your disposable income each month, or if you need cash to remodel your kitchen – or to buy a new car – a home equity line of credit (HELOC) might be your best bet.

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Should You Refinance Your Current Auto Loan? 

It's the final week of our Summer Savings Event
Posted by Jeremy Wascak September 25, 2017

As the auto industry continues to encourage longer-term, higher-dollar-value car loans, the calculus toward auto loan refinances continues to tip in consumers' favor.

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TowpathCU APP Update 

Posted by Jeremy Wascak September 19, 2017

Take your Credit Union with you wherever you go! Our APP has everything you need for complete mobile banking and we've just finished updating its best features.

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Our Drive Thru Hours are Changing 

Posted by Jeremy Wascak September 12, 2017

Beginning Monday, October 2 our Drive Thru hours will change.

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Financial Advice You Should Never Follow 

Posted by Jeremy Wascak September 11, 2017

There's a lot of content floating out there about how to manage your money and build long-term wealth, but not all of it is good. Learn how to look for and develop trustworthy sources.

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Ohio CU Foundation sends $10,000 to CU brethren affected by Harvey 

Posted by Jeremy Wascak September 07, 2017

As a Movement, we carry each other in times of need, which is why the Ohio Credit Union Foundation sent $10,000 in disaster relief to CUAid’s “Tropical Storm Harvey Relief” Fund on behalf of Ohio’s credit unions.

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The Payday Lending Trap 

Posted by Jeremy Wascak August 28, 2017

You're in a financial bind and need some quick cash. You've seen payday loan stores all over town and think "Maybe I should try that ... ." Don't fall into that trap!

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Five Ways to Avoid Overpaying on Your Car Loan 

Posted by Jeremy Wascak 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.

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Is Refinancing Your Car Loan Worth it? 

Let's do the math and find out
Posted by Jeremy Wascak July 13, 2017

There are no solid rules, but consider this – for every $10,000 borrowed, a drop of 1 percentage point is worth about $5 per month over 48 months.

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Stop Wasting Money! 

How to cut back on “convenience vices” — but still have fun
Posted by Jeremy Wascak July 10, 2017

"Convenience vices" can stall your financial growth — and keep you living paycheck to paycheck. Here are 5 specific ways to start reining in the convenience expenses that have gotten out of control:

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Get a $100 Cash Reward for Every New Line You Switch to Sprint 

Posted by Jeremy Wascak 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®.

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Text Banking is Here and Ready to Go! 

Posted by Jeremy Wascak June 28, 2017

Whether you have a smartphone or a “dumb” phone, you will have access to your accounts in an instant.

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How To Establish Credit Part 3: Cash Payments 

Posted by Jeremy Wascak June 22, 2017

Take out the credit card. Buy your gas with it every month, and pay off the entire bill when it comes. You just built credit history, it cost you absolutely nothing (don’t get a card with a fee), and you maybe even got some rewards in the form of cash back or miles. Don’t be afraid of a credit card, be afraid of going into credit card debt.

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How To Establish Credit Part 2: Bankruptcy 

Posted by Jeremy Wascak June 20, 2017

Credit card companies are going to love you after a bankruptcy. Why? You can’t file again for a long time and they want to make their money back.

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How to Establish Credit if You’re a Young Adult, Recent Bankrupt, or Cash Buyer 

Posted by Jeremy Wascak June 16, 2017

It’s almost never too early to start establishing credit as a young adult. The sooner you can establish your credit history as positive and get that awesome FICO score we all want, the better off you will be.

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Consumers, be Wary: Identity Theft is on The Rise 

Posted by Jeremy Wascak 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.

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Summer Vacations: 3 More Ways to Get More for Less 

Posted by Jeremy Wascak May 23, 2017

Ready to continue saving? Read the second part on how to save on your summer vacation.

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Summer Vacations: Ways to Get More for Less 

Posted by Jeremy Wascak May 23, 2017

According to American Express, $1,145 is the average cost of a vacation for someone in the United States. Let's beat the average and get more for our money. Here are six ways to do so.

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Tips for Better Passwords 

Here are a few ways to keep your personal info safe
Posted by Jeremy Wascak May 22, 2017

Courtesy of Consumer Reports, here are some tips for creating strong passwords and keeping your online accounts safe.

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An Online Safety Checklist 

Posted by Jeremy Wascak May 12, 2017

Whenever you’re unsure about a link in general, this is the expert knowledge you can refer to for checking if it’s safe to click on or not.

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Online Security - What to do if You Have Clicked a Suspicious Link 

Posted by Jeremy Wascak May 11, 2017

If you’ve been taken in by a phishing link and already entered your login details or other sensitive data into the site, then you should go to the real website immediately and change your passwords and login details. Also contact the organization concerned and inform them about the incident.

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Online Security - Recognizing Suspicious Links 

Posted by Jeremy Wascak May 10, 2017

Nowadays, online scam is a bigger deal than ever before. The creators of malicious links are called phishers and mostly try to disguise themselves as known financial service websites.

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Online Security - Is That Link Safe to Click? 

Posted by Jeremy Wascak May 09, 2017

There are a number of ways identity thieves will try to steal sensitive information from you, and some are literally a click away. Learn some helpful tips on how to identify potentially unsafe links.

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Five Financial Reasons to Love Akron 

Posted by Jeremy Wascak May 08, 2017

Just as the founders of Akron’s rubber companies chose Akron for its unique economic advantages, there are plenty of financial reasons to love Akron today. Here are five!

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Will I Get All My Money Back from Home Improvements? 

With Guest Blogger Dawn Lawson
Posted by Jeremy Wascak May 05, 2017

One of the hardest concepts for homeowners to understand is that the market value of land is what appreciates while home improvements depreciate. It is understandable that people want to see a decent return on their sweat equity. However, taking the fair market value of their home and then adding on the money spent to update or maintain the property does not necessarily reflect a change in value.

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Why Staging Your Home is Important 

With Guest Blogger Dawn Lawson
Posted by Jeremy Wascak May 04, 2017

The more stunning your home, the longer the buyer will linger. I’ve even had people so in love with the condition of a home that they tried to figure out a way to make it work even though the home didn’t have their key features.

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What is Happening in Today’s Market? 

With Guest Blogger Dawn Lawson
Posted by Jeremy Wascak May 03, 2017

In a balanced market, we typically see homes taking 90 to 180 days to sell (3 to 6 months). However, due to supply and demand, we are in a seller’s market. We still have a shortage of inventory which increases the chances of multiple offers on listings.

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The Thought of Moving Exhausts Me! 

With Guest Blogger Dawn Lawson
Posted by Jeremy Wascak May 02, 2017

You’ve been thinking about moving for a while ... actually for quite a while. Every time the topic comes up you are faced with the realization all your possessions either have to be packed, donated, or pitched. Believe me, I know! Nothing makes you drag your feet more than facing that seemingly impossible task.

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Is Condo Living Right For Me? 

With Guest Blogger Dawn Lawson
Posted by Jeremy Wascak April 27, 2017

You are thinking about downsizing but just not sure what would be the right fit. Do you look for a smaller ranch style home or do you consider purchasing a condominium? Condominium living is more than just "downsizing." It is a lifestyle.

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Mortgage Trail Guide 

Directions on the path to Home Ownership
Posted by Jeremy Wascak April 21, 2017

Looking for a little bit of knowledge to carry along with you on the path to home ownership? Well, our Mortgage Professional Amanda is offering FREE classes in how to go about obtaining a mortgage.

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The State of American Saving - Taxes and other Considerations 

Posted by Jeremy Wascak April 20, 2017

As you start to earn really substantial returns on your money, it will be important to limit the amount of taxes you pay on those returns. For instance, if you go into the stock market with your money without consulting a financial adviser and accountant, you could end paying all your returns in taxes when you could have uses a tax-shielded vehicle.

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The State of American Saving - Maximize Your Rate of Return 

Posted by Jeremy Wascak April 20, 2017

Now is the time to start considering the returns you are earning on your money. As I mentioned before, this conversation should be had with a licensed financial adviser that you trust who can come up with a plan and recommended products based on your needs and goals.

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The State of American Saving - Self Motivation 

Posted by Jeremy Wascak April 19, 2017

Self motivation can be difficult but I think I’ve come up with a few tricks that might help.

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The State of American Saving - Stay Focused 

Posted by Jeremy Wascak April 18, 2017

I truly believe personal finance is only 10% knowledge and 90% is behavior. The behavior of refraining from spending and instead saving that money is what makes the difference in savings rate. You can be the best investor in the world and you will end up broke if you do not budget and control your spending impulses.

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The State of American Saving - Saving Rate vs Interest Rate 

Posted by Jeremy Wascak April 17, 2017

One of the biggest advantages of actually saving money is you are going to get paid by someone to hold onto that money for you! Woohoo, free money!

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The State of American Saving - Other Savings Opportunities 

Posted by Jeremy Wascak April 14, 2017

Your credit union is a great place to set up individual accounts for each of your "buckets." Speak with any of our Member Service Representatives and they will be happy to assist you.

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The State of American Saving - Savings "Buckets" Part 2 

Posted by Jeremy Wascak April 13, 2017

After you have established The Emergency Fund you need to focus on Retirement savings. Why is that? Well if you don’t establish The Emergency Fund first, you may find yourself having to dip into these accounts.

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The State of American Saving - Savings "Buckets" 

Posted by Jeremy Wascak April 12, 2017

Saving is one of those things that can be both simple and complicated. What's simple about it? Well, saving simply means spending less than you make, and putting the extra somewhere for future use.

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The State of American Saving - Retirement 

Posted by Jeremy Wascak April 12, 2017

The other big savings problem is saving for retirement. While so far I have spoken in terms of short term emergencies, saving is more complicated than that. Life’s little emergencies aren’t the only reason to save.

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The State of American Saving 

Posted by Jeremy Wascak April 07, 2017

According to the Motley Fool, the bottom 30% of Americans (in terms of saving) have $0.00 saved. Nothing. They are standing on a financial cliff of doom.

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Can Refugees Save a Town? 

Posted by Jeremy Wascak March 13, 2017

A few weeks ago the Christian Science Monitor ran an article about Akron written by Simon Montlake, a staff writer with the magazine titled "Can Refugees Save a Town?"

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The Parent-Child Student Loan Conversation You Need to Have 

Posted by Jeremy Wascak February 21, 2017

I understand you want your children to succeed. I acknowledge that education is the ladder that allows people to be upwardly-mobile in the workforce. I believe higher education to be very important for many reasons, and I want to see every student that is qualified and able to attend.

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Overdraft Protection 

Posted by Jeremy Wascak February 09, 2017

Have you ever made a mistake balancing your checkbook? Found yourself "a little short?" Had unusual or unforeseen expenses at just the wrong time? Relax, you deserve consideration! Rather than automatically returning unpaid any insufficient funds items that you may have, we will consider, without obligation on our part, payment of your reasonable overdrafts.

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Everyday Finance with Jeremy - Mortgages Part 3 

Posted by Jeremy Wascak February 01, 2017 Categories: Mortgages

I have noticed that one of the hardest parts of the pre-qualification process is having enough money for a down payment and closing costs. Focus on saving.

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