Everyday Finance Blog

Everyday Finance Blog

Everyday Finance is your go-to resource for navigating life's financial twists and turns. Whether you're looking for advice on buying a home, financing a car, paying for college, saving for retirement, or something in between, we've got you covered! At Towpath Credit Union, we aim to guide and educate our members, and Everyday Finance is just one of the ways we can help.

Supermarket Struggle 

How to save more at the grocery store.
January 18, 2023
With prices rising at both the gas pump and in the grocery store, it’s become more important than ever to have a plan. Whether it’s a plan for saving or a monthly budget, knowing how much money you’re spending on food and other necessities will
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Make a Savings Strategy 

November 21, 2022 Categories: Budgeting Saving
Dreams. We all have them. But often what distinguishes those who achieve them from those who do not is simply a plan of action. When it comes to life goals involving money, it is no different. Step One: Make a decision to work towards financial
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Temporary Connectivity Issues 

We are working hard to restore access
Posted by Jeremy Wascak June 22, 2022
9:30AM - Update - Connectivity to online banking, the mobile app, and our branch systems is restored. Please contact us if you have any questions, issues, or need to complete a transaction. We appreciate your patience and Membership with TowpathCU.
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Akron Zoo's Backpack Adventure 

Help Akron Public Schools by donating supplies to Towpath CU. Toothbrushes and toothpaste are being accepted at all TCU branches!
June 06, 2022
Join us on our Backpack Adventure! Backpack Adventure is a back-to-school event hosted in partnership with Akron Public Schools by the Akron Zoo. Our goal is to make sure APS elementary students are equipped with the resources they need to succeed
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What is "the Fed" and how do rate changes affect you? 

Understanding the raising rate environment.
May 19, 2022
You might have seen some things in the news recently about “the Fed” raising rates, but many Americans don’t know exactly what the Fed is or how it affects their lives. Turns out, it has a pretty big impact on all of us. The Federal
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Celebrating Black History Month 

Black Credit Union History
February 14, 2022
The concept of the original credit union is a simple one: A community pooling their funds and savings together under a group of elected individuals who make loans to their neighbors. But have you ever asked yourself why that was necessary?
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Towpath CU 2022 Video Scholarship 

Up to two winners will be selected to receive a $1,500 scholarship!
February 01, 2022
Deadline Extended for Towpath CU Scholarship until June 1st! See details below! This scholarship runs in conjunction with 2022 Ohio Credit Union Scholarship opportunity. Entrants may submit the same video to both the Towpath Credit Union
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Temporary lobby closures at some branches 

An important update for our Members.
December 27, 2021
LOBBIES OPEN AS OF 1/10/2022 Your health and safety, along with continuing to provide uninterrupted service at our branches, remains our top priority. As we continue to monitor the latest developments about COVID-19 and make every effort to
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Sock it to Winter 2021  

Did you know socks are amongst the top needs for homeless individuals during winter?
November 09, 2021
Help Towpath Credit Union sock it to winter! We will be collecting new, unopened socks for men, women, and children from November 8th until December 18th. Sock collection bins can be located in each of our four branches in Cuyahoga Falls,
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Submit your name for nomination to the Towpath CU Board of Directors 

Nominations open from November 1 - 30 2021
Posted by Jeremy Wascak November 01, 2021
The most important aspect about our financial institution is that YOU own your credit union. A financial cooperative means that the organization is owned by its Members and governed by a volunteer Board of Directors comprised entirely of Towpath
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Help us celebrate International Credit Union Day! 

Towpath Credit Union will be hosting an art and essay contest for children and teens. Learn more about the contest details below.
September 22, 2021 Categories: Akron Community Saving
ICU Day 2021 is a celebration of the impact credit unions and other financial cooperatives have made—and continue to make for their members. It is also a chance to be thankful for the lives and communities that have been improved by our movement.
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Understanding the Advance Child Tax Credit 

How It Affects You and Your Tax Return.
July 26, 2021
With the new updates to the Child Tax Credit, some in our community have sought greater clarification as to how these changes will affect their 2021 taxes. The opt-out system left many dissatisfied with the fact that they would be receiving
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Juneteenth Federal Holiday 2021 

Join us in celebrating Juneteenth as a new federal holiday.
June 18, 2021
Juneteenth (June 19) is the holiday commemorating the end of slavery in the United States. While many think the Emancipation Proclamation was the end of slavery in the US, it actually persisted for another 2 years when the last slaves in Galveston,
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Mobile Wallet now available! 

Add your TCU cards to your Mobile Wallet for secure, contactless payment!
March 31, 2021 Categories: Mobile Pay

Mobile Wallet makes paying easier, secure, and contactless! Towpath CU now offers Mobile Wallet payment options for Apple Pay, SAMSUNGpay, and GooglePay. 

2021 Annual Meeting 

Posted by Jeremy Wascak March 18, 2021

Towpath Credit Union's 2021 Annual Meeting will take place virtually on Saturday March 27, 2021. The link to the meeting will be available the morning of the meeting. Check back for updates!

March 2021 Stimulus Payments 

Posted by Jeremy Wascak March 15, 2021 Categories: Local Saving Taxes
Valued Towpath Credit Union Members, At Towpath Credit Union, we've been serving our communities for 84 years, and we're working hard to make sure our Members continue to improve their financial wellness, no matter the circumstances. That's
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Save up to $15 with TurboTax! 

Get Your Maximum Refund and Special Savings on TurboTax
Posted by Jeremy Wascak February 24, 2021 Categories: Saving Taxes
Getting your biggest possible tax refund has never been easier. From simple to complex taxes, TurboTax® has you covered. Taxes made easy. Just answer questions about your year, anytime and from any device, and TurboTax fills in all
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10 Ways to Save on Back-to-School Shopping 

Posted by Jeremy Wascak August 28, 2020 Categories: Budgeting Saving Shopping
According to the National Retail Federation, the average American household spends $685 on back-to-school shopping for children in elementary through high school and $943 for young people going to college. Here are 10 ways to save this fall and
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Five Tips for Creating Strong Passwords 

You can do so much better than Password123.
Posted by Jeremy Wascak July 29, 2020 Categories: Security
Since the Covid-19 pandemic began, so much of our lives have shifted online, so it’s more important now than ever before to take the necessary steps to keep your information safe. From digital natives to reluctant tech adapters, creating strong
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Managing Your Finances During the COVID-19 Pandemic 

Posted by Jeremy Wascak May 19, 2020 Categories: Budgeting Credit Cards Saving
The COVID-19 pandemic is not only causing fear and uncertainty about our health, but our livelihood as well. Many wonder “What happens to me and my family if my employer has to lay off people or my hours are cut?” Now more than ever, it’s
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5 Tips on Talking about Social Distancing with Your Teens and Young Adults 

Posted by Jeremy Wascak April 22, 2020
We are living in unprecedented times. And parents, in particular, are feeling the stress. You may be working remotely, trying to parent, educate, and keep the household running. You may be in a career where you are an essential employee, needing
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5 Ways to Boost Your Financial Health Amidst COVID-19 

Posted by Jeremy Wascak April 10, 2020 Categories: Budgeting Community Loans Retirement Saving Taxes
Financial decisions can feel complex and hard even under normal circumstances. If the current market volatility has you questioning what are the “right” actions you should take now, you are not alone. Here are five concrete ways for you to
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COVID-19 Scams 

We've been seeing an increase in COVID-19 related fraud. Here's what you need to know.
Posted by Jeremy Wascak April 07, 2020 Categories: Avoiding Scams
Members Getting Phone Calls Pretending to be Towpath CU Employees We have been notified that someone is making phone calls, pretending to be from Towpath Credit Union, asking for personal information. Towpath Credit Union will never call our
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Digital and Distance Solutions 

Towpath CU has plenty of options for banking without branches.
Posted by Jeremy Wascak March 13, 2020 Categories: Akron Community Local Towpath CU Staff
At Towpath Credit Union, we've been serving this community for 84 years, and we're working hard to make sure our Members continue to improve their financial wellness, even during the Coronavirus pandemic. That's why we're committed to serving you
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COVID-19 Response Plan 

Posted by Jeremy Wascak March 10, 2020 Categories: Akron Community Credit Cards Loans Local Mobile Pay
At Towpath Credit Union, people always come first. We are fully committed to protecting our staff and Members in case of a local COVID-19 outbreak and have a business continuity plan in case of a pandemic, natural disaster, or any other situation
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Balance Transfers - What You Need to Know 

Are you carrying a balance on a high-interest credit card? Have you considered doing a balance transfer to a new card with a lower rate?
Posted by Jeremy Wascak March 04, 2020 Categories: Budgeting Credit Cards Loans Saving
How does a balance transfer work, you ask? A balance transfer happens when you move a current balance from a high interest rate credit card to a new or existing card, like the Towpath CU EverydayCredit card, that typically has a lower interest
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Bad Money Habits and How to Fix Them 

Posted by Jeremy Wascak January 28, 2020 Categories: Budgeting Credit Cards Saving
Learning how to use money wisely is an essential skill that isn’t always taught to us as children. Some of us pick up bad money habits on our journey to adulthood. Often, we’re just not being mindful of where our money goes. See if you have
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Is My Child's Summer Camp Tax Deductible? 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
Ah, good old summertime – what a wonderful relaxing time of the year. Unless you have kids, of course, in which case there’s a whirlwind of activity in your house as soon as school is out. But then comes the blessed time of summer camp, when
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What Parts of My House Payment are Tax Deductible? 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
While there are plenty of expenses that come along with owning a house, there are some tax benefits too. If you’re looking to get the most out of your home, here are five tax breaks for homeowners you want to stay on top and keep a record of.
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What's the Difference Between a Tax Credit and a Tax Deduction? 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
“Just write it off.” “Go ahead and deduct it.” “I think there’s a tax credit for that.” Although you might have heard or even uttered one of the sentences above, have you ever wondered what it actually means? While both tax deductions and
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Can I Claim My Girlfriend or Boyfriend as a Dependent? 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
Are you living with your girlfriend or boyfriend? Have you ever wondered whether or not you could claim him or her on your tax return as a dependent? Like many things in life, it depends. Even if it feels like an awkward thing to wonder, it’s worth
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Tax Benefits for Having Dependents 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
Kids can be overwhelming when they are cooped up in the house during summer break, but they are also blessed tax-savers when you file your taxes. Even though the dependency exemption of $4,050 was eliminated under the new tax law beginning with
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Tax Tips for Uber, Lyft, Juno and Other Ride Sharing Drivers 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
When you're a driver for a ride-sharing company such as Uber, Lyft, Juno, the most important thing to understand about your taxes is that you are probably not an employee of Uber, Lyft or Juno. Drivers for these companies are usually independent
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I've Started My Own Business, Now What?  

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
Congratulations! As you start to find your bearings and navigating your way as a new business owner, it’s important to remember certain tax implications. Towpath Credit Union breaks down a few tips to get you off on the right tax foot and keep your
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Tax Tips for the Self-Employed 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
Whether you’re a seasoned business owner, newly self-employed or testing out a side-gig, TurboTax has you covered on tax tips, deductions, and tax forms for your business income. Below, we break down common write-offs for different types of
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Can You Deduct 401K Savings From Your Taxes? 

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes
The contributions you make to your 401(k) plan can reduce your tax liability at the end of the year as well as your tax withholding each pay period. However, you don’t actually take a tax deduction on your income tax return for your 401(k) plan
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Will Getting Married Change My Tax Situation? 

Are you planning to get married or are getting married soon? If so, congratulations!
December 18, 2019 Categories: Taxes
As you and your significant other plan for the big day and your life together, there is a lot to take into consideration. And as fun as planning your wedding may be, don’t forget about your taxes as well – just because you have hearts and flowers on
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How Does the Fed Affect You? 

Posted by Jeremy Wascak September 30, 2019 Categories: Credit Cards Loans Mortgages Shopping
You might have seen some things in the news recently about the Fed cutting rates, but many Americans don’t know exactly what the Fed is or how it affects their lives. Turns out, it actually has a pretty big impact on all of us. The Federal
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Cheap Flight Day – Fact or Gimmick? 

Can you really save on airline tickets on August 23?
Posted by Jeremy Wascak August 21, 2019 Categories: Budgeting Fall Saving Shopping Summer Vacations
This Friday, August 23, is known as “Cheap Flight Day” across the internet. As the name implies, many websites are claiming that August 23 is the best day to save money by booking a cheaper-than-normal flight. So just how much truth is there to this
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Equifax Data Breach Settlement 

Did you know that if you live in Ohio, there’s a 45% chance that your personal information was exposed in the 2017 Equifax data breach?
Posted by Jeremy Wascak July 30, 2019 Categories: Avoiding Scams Credit Cards Security
The Federal Trade Commission recently announced that Equifax is required to pay a settlement of up to $700 million, including $425 million to the consumers it affected. Towpath CU wants to be sure our valued Members know their rights under this
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SCAM ALERT - Mystery Shoppers 

“Mystery Shopper” Scams are increasing in frequency – Do you know how to spot a scam?
Posted by Jeremy Wascak July 18, 2019 Categories: Avoiding Scams Security Shopping
Towpath Credit Union has noticed an increase of Mystery Shopper Scams in recent weeks. While it may seem like an easy opportunity to make a profit, it’s probably a scheme to steal from you. Here's how it works: The scammers will send you a
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Share Certificates 101 

Posted by Jeremy Wascak July 01, 2019 Categories: Saving
A share certificate is a type of savings account that has a fixed dividend (or interest) usually higher than a regular savings account. Share certificates also have a maturity date, or a predetermined length of time where funds are not accessible.
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Saving with Towpath CU 

Here's what you need to know about savings products.
Posted by Jeremy Wascak July 01, 2019 Categories: Local Saving
​ When you choose a financial institution, you're choosing more than just where to keep your checking account or where to finance your car from. When considering where to do your banking, it's also important to look at where and how you choose to
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The Longest Day - Parking Lot Cookouts 

The Day with the Most Light is the Day We Fight!
June 05, 2019 Categories: Akron Community Fundraising Towpath CU Staff
Help us raise money to find a cure for Alzheimer's disease! June is Alzheimer’s and Brain awareness month. That is why Towpath Credit Union is partnering with our local Alzheimer’s Association Chapter to raise awareness about this
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2019 Professional of the Year  

Towpath Credit Union President / CEO Named Professional of the Year
April 18, 2019 Categories: Towpath CU Staff
Rose Bartolomucci, President / CEO of Towpath Credit Union has been named the 2019 Professional of the Year by the Ohio Credit Union League. This award, which was presented to Bartolomucci during the Ohio Credit Union League’s annual convention in
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How to use Mobile Deposit 

A Step-by-Step Guide
Posted by Jeremy Wascak February 21, 2019
Mobile deposit allows you to deposit paper checks from anywhere! You will need a compatible smartphone, the TowpathCU app, and you must be enrolled in TowpathCU online banking. Remember that we currently place a three day hold on all checks
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Member Appreciation Days 

Cookies and coffee and cocoa, oh my!
Posted by Jeremy Wascak January 22, 2019 Categories: Member Appreciation
We can't thank you enough for being a Member of Towpath Credit Union...but we're going to try! To show how much we love our Members, we're hosting a Member Appreciation Day on January 25 (beginning at 1:00 pm) and January 26 (beginning
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2019 New Year's Resolutions 

New Year's Resolution Suggestions to Improve your Financial Wellness
Posted by Jeremy Wascak January 01, 2019 Categories: Budgeting Credit Cards Credit Scores Saving
It's not too late to choose a New Year's Resolution to start your 2019 off right! Here are five simple ways you can boost your financial wellness this year. Start a Budget. An important step toward financial wellness is keeping track of
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Happy New Year! 

A New Year's Message from Rose
December 31, 2018
As the holiday season winds down, I would like to take some time to thank each of you for your membership and trust in Towpath Credit Union. Since 1936, we’ve worked hard to offer all of our members top-notch care and individualized attention, and
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Revolving Credit Utilization 

Revolving Credit Utilization Plays an Important Role in Your Credit Score.
Posted by Jeremy Wascak December 24, 2018 Categories: Credit Cards Credit Scores Loans
Two people walk into a credit union to apply for a loan. The first person has $1,000 in credit card debt. The second person has $5,000 in credit card debt. If the rest of their finances are the same, who has a higher credit score? It’s impossible
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What To Grab And What To Skip In June 

Posted by Jeremy Wascak May 29, 2018 Categories: Shopping Summer
June is the month of sun-kissed beaches, dripping ice cream cones, backyard BBQs … and spectacular sales. There’s lots to celebrate this month, but June sales aren’t just for “dads and grads.” If you know what to look for, you can find great
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Five Things To Do Outside In Akron This Weekend 

Posted by Jeremy Wascak May 18, 2018 Categories: Akron
Looking to do something different this weekend in the Rubber City? Here's our short-list of options. 1. Stan-Hywet Hall & Gardens - If you haven't yet been, this is a must see. The 70-acre estate was the home of F.A. Seiberling,
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6 Ways To Turn Your Dream Vacation Into A Reality 

Posted by Jeremy Wascak May 09, 2018 Categories: Saving Vacations
You’re sipping a pina colada on a beautiful, white-sanded beach while watching the cerulean waves lap at the shoreline. You might be pulling muscles and riding high on adrenaline while scaling Mount Greylock, up in Massachusetts. Or, maybe you’re
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The 20% Down Myth 

Posted by Jeremy Wascak May 07, 2018 Categories: Millennials Mortgages
If you’re desperate to own a home of your own, you are likely saving up until you have 20% of your dream home’s total value. All that’s great, but the fact is you don’t need to put down 20%. The 20% myth is leftover from the era after
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Understanding Share Secured Loans 

Posted by Jeremy Wascak April 30, 2018 Categories: Credit Scores Loans
As a member of Towpath Credit Union, you already know we’re here to help you manage your money and let it grow in the best ways possible. That typically involves wisely using only the products and services best suited to your needs and
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How to Talk Money with Your Partner 

Posted by Jeremy Wascak April 27, 2018 Categories: Budgeting Saving
What happens when you and your partner have different approaches toward money? It’s a common scenario. One partner seemingly knows where every earned dollar goes, while the other is a carefree spirit who thrives on
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6 Ways To Avoid Getting Taken By A Car Dealer 

Posted by Jeremy Wascak April 26, 2018 Categories: Cars Credit Scores
Purchasing a vehicle is an important life decision. Slow down, take your time, and do it right. You don't want to have buyer's remorse over any part of the transaction: the vehicle, the financing, or the process. 1. Do your research before
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Six Things That Do Not Impact Your Credit Score 

Posted by Jeremy Wascak April 23, 2018 Categories: Credit Scores
Monitoring your credit scores and reports has never been easier. With the free tools provided by websites likes Credit Karma and many credit card companies, getting help monitoring and understanding our credit is never more couple clicks
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Understanding Stock Fluctuations 

Posted by Jeremy Wascak April 17, 2018 Categories: Investing Retirement Saving Stocks
If there’s one constant in the stock market, it’s that the stock market is never constant. It will continue to fluctuate every single day. This means share prices are constantly rising and falling. Consequently, so do the market values of
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Real Mortgage Pre-Approvals 

Posted by Jeremy Wascak April 16, 2018 Categories: Millennials Mortgages
So, you are hoping to be pre-approved to purchase a home. Did you know that there are different types of pre-approvals? Some lenders pre-qualify you based on information you tell them, some ask for a little bit of documentation and issue a
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Don't Make Budgeting Harder Than It Should Be!
Posted by Jeremy Wascak April 13, 2018 Categories: Budgeting Millennials
Budgeting is to personal finance what diet & exercise is to health. If you aren't deliberate​ about where your money goes every month, the chances of you getting out of debt, building an emergency fund, and preparing for retirement properly
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Why Do I Need To Get Pre-Approved For A Mortgage? 

Tips from Amanda, Our Mortgage Specialist
Posted by Jeremy Wascak April 09, 2018 Categories: Mortgages
Q: I'm in the market for a new home, and everyone I talk to, from friends to financial advisors, suggests I get pre-approved for a mortgage before I start house hunting. Why is this so important? A: You're actually on the
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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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Five Financial Reasons to Love Akron 

Posted by Jeremy Wascak May 08, 2017 Categories: Akron

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 Categories: Mortgages

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 Categories: Mortgages

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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Can Refugees Save a Town? 

Posted by Jeremy Wascak March 13, 2017 Categories: Akron

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 Categories: Millennials Student Loans

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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