If you are dealing with debt, you aren’t alone. The average American household has an average balance of about $6,600 in credit card debt, and that’s not taking into account home, auto, and student loans. Paying off your debt isn’t always easy, but having a plan can go a long way in achieving your financial goals.
No matter your age or stage in life, it pays to know the facts about personal finances. When you understand the basics, you can set yourself up for success and build a healthy financial future.
Lifestyle creep, or lifestyle inflation, happens to the best of us. As your standard of living improves, your non-essential discretionary purchases gradually increase. You might even start to think your “wants” are “needs.” Some creep is natural and to be expected, but excessive creep can derail your finances.
Do you use others for the barometer of what you should have or deserve to have? Constant exposure to your friends’ vacations, experiences, dining out, luxury purchases, new cars, and house upgrades on social media amplifies “FOMO (fear of missing out)” and the desire to “keep up with the Jones’s.”
Shopping for your first car is exciting, but it can also feel intimidating. It’s a major commitment, but one that will give you the freedom to go where you want, when you want. Before you head to the car lot, set yourself up for success by following these steps:
Moving out and on your own is an exciting step towards independence, but the financial responsibility can also be shocking if you’re not prepared. There are a lot of odds and ends that you need to plan for, as well as a lot of expected (and unexpected) costs associated with the move. Here are some tips to prepare:
Starting a new chapter in your life as an independent adult? One of the most important lessons you can learn is about financial wellness. Give your future self the gift of security by hitting these five financial health goals in your 20’s:
Hand-me-downs are great for starting out on your own, but eventually it’s nice to outfit your home with something that’s truly yours. Every time you use your HomeFREE Checking debit card or Visa® Signature Rewards card, you earn points that can be redeemed for gift cards, appliances, and home decor.
What’s a credit score and why is it so important? A credit score, also known as a FICO Score, is a calculation based on your activity in a few categories that assess the likelihood that you will repay any debt you owe. The higher the score, the more likely it is that you can handle your debt.
Expanding your family with a new furry, feathery, or scaly friend? Whether you’re a first-time pet owner or very experienced, don’t forget to consider the financial impact of a new pet and adjust your budget accordingly.
It’s been a busy quarter behind the scenes as we continue to work for you, our member-owners, and our Central Coast community.
Direct Deposit is now easier than ever, thanks to our new Direct Deposit Switch Tool in Online Banking. Get started managing deposits today!
As of May 17, 2025, SESLOC’s brokerage arm offering non-deposit investment services transitioned from CUSO Financial Services, LP to LPL Financial.
A tax on credit unions is a new tax on you. Take action today: Contact your U.S. representatives and Senators and tell them: Don’t Tax My Credit Union.
No matter where you live, credit unions play a critical role in ensuring a level playing field for everyone to achieve their financial goals.