I’m never really sure how I feel about exemptions and withholding…do I want to have less withheld so that I have more monthly cash flow to work with and then risk having to pay additional taxes at the end of the year? Or should I pay an extra amount to withholding from each paycheck to ensure that I don’t have the shock of having to come up with tax money in April and maybe get more back in a refund?(granted, Uncle Sam would get to use my money all year long that way.)  I’ve had years where it worked out one way and then years where it worked out the other.  I guess with the way that tax laws are always changing you never know which way is going to work better for you.

And speaking of tax laws…. About five years ago I started using TurboTax because NWGACU offered the software program at a discount, and they still do – check out the member discount page.  This took all of the guesswork out of the changing laws. It walks you through all of the possible deductions, and exemptions, and whatnot.  Lots of questions I wouldn’t even think to consider.  If there is something that you can claim or can’t claim, I feel pretty confident that TurboTax will find it.   I did take my taxes to a “professional” for two years but they didn’t get me any more of a refund than I was figuring out on my own.  Since I’m all about saving money, I’m back to doing my own taxes at half the price of having someone else do them and I never had to leave my house!  Cool!  Doing taxes while sipping tea in time for tee-off! Now that is what I call Un-banking!

We believe in un-banking…something you can only find at a credit union. We believe that banking is all about relationship. We care about your financial well-being because we want to see you succeed—no strings attached. Because our members are the owners of the credit union, when you do well, we do well.

Financial services should be affordable and convenient. It should be about a relationship with people who will go out of their way to help you out and keep things uncomplicated. It’s all the conveniences of a bank without the hassle of, well, the bank. It’s being smart, savvy and responsible with your money. It’s called un-banking, and it’s pretty unbelievable.

So, how do you un-bank? Do you find deals or coupons online? Do you go to the grocery store on a full stomach? Do you bargain shop? Tell us about it on Twitter between February 15 and March 1, and you will be automatically entered to win one of two $100 VISA gift cards! Follow @NWGACU and mention us with the hash tag #UnBank.  We will be looking for your tweets!

Teachers and parents: here’s your chance to deepen the knowledge of your student’s financial education straight from the people who know it best. Check it out here!

A: Well besides having expertise in personal finance, they love credit unions! Here is what they have to say about credit unions and how anyone can benefit from becoming a member of a credit union. Their opinions are gathered from different sources and quotes on their websites. Visit one of the sites by clicking on their name below.

Dave Ramsey answers a question posted on his site about banks versus credit unions. Ramsey says he hasn’t done business with the mega-banks for years because of poor customer service. He uses a local community bank for his banking as well as credit unions. In most cases, credit unions and small banks don’t get involved in the subprime mortgage debacle. Credit unions are an excellent place to have money.

Clark Howard wrote an article explaining why credit union credit cards are easier to use when traveling overseas. He writes that the New York Times reported that credit unions are beginning to step up and issue cards with the chip and pin technology in place to adopt to the international standard. He also states that it’s often been said that there are no free lunches, but he thinks that credit unions are darn pretty close. Howard writes, when it comes to credit cards, most credit unions offer Visa and MasterCard with interest rates that are about 20% lower than the giant monster mega-banks. He notes that credit unions are a wonderful option available to most adults, but only about 1 in 3 actually is a member.

Suze Orman interviewed with KMBC.com back in 2009 shaming credit card companies, but she also explains what the answer is to these problems. She states, “Here’s the answer: credit unions. They are different than banks. Most banks are owned by their shareholders. They’re responsible to these shareholders and it happens to be on the stock exchange, so anything to increase earnings and profits. Credit unions have members. They’re responsible to the members. So, many credit unions — not all — are giving you no balance-transfer fees, low-interest rates. They’re being ethical and honest.“

 So there it is folks, aren’t you glad you chose a credit union? And if you don’t have a membership with us or another credit union, did this convince you?

The Visa Platinum Credit Card is a simple, honest card that is totally free of ridiculous fees that have become so common with banks and credit card companies. Here are some fun facts about our credit card:

• Non-variable rate as low as 9.9% – our card holds one of the lowest rates in the country!
• No annual fees
• No surprise rate changes
• A 25-day grace period

Member Benefits:

• No default penalty rate for late payment
• No fees for cash advances or balance transfers
• Make payments online or in our branches
• Earn ScoreCard Bonus Points with every purchase

ScoreCard Bonus Points are earned on every purchase, and they can be redeemed online for:

• Travel Perks
• Gift cards
• Merchandise
• Airline tickets – at the 20,000 point level! Most credit cards require 40,000 – 50,000 points.

Right now is a great time to transfer your credit card balance for 5.9%APR* and get a free sock monkey while supplies last! *Some restrictions apply. 

Money-Saving Tip of the Day    

HouseholdTipNo.11: Turn off tap water when you’re brushing your teeth or shaving. Every minute the water is running, you are using up to 2.5 gallons, according to the Environmental Protection Agency.

Well for some, adulthood hits them right when they graduate high school and they either get a job, go to college, or do a little bit of both. For others, adulthood hits when they graduate college and start the job search. Maybe in between all of that, some got married – now that is some serious adulthood. Whenever it hits you, it seems as though you’re in this weird phase of life when you finally have freedom and at the same time you wish you were a kid again. You’re making money at your job, but you still expect your parents to help you out a little. If you’re like me, then you find yourself living in eight different places in the past four years. That’s including each dorm I’ve lived in and the different places I’ve stayed for the summer. But there’s always that one place I call home and that is where my parents live. Now I find myself thinking, “I’m never moving back home because the next place I live will be permanent (at least for a while)”. This is where I consider myself to be officially in adulthood.

So what should every twenty-something, including myself, be thinking about financially when branching out beyond the parents and the home? Now – I’m only in my second year of being a twenty-something, so I gathered useful information from other sources including: NPR, Dave Ramsey,  and Clark Howard.

First, when marking your financial independence – the key word for rest of your life is SAVE. Without this word constantly running through your mind, you won’t be able to pay off that student loan quickly or ever set your financial mind at ease. Saving is key for any age group, but the earlier you start saving – the better.

Second, look into a credit union membership. Many twenty-somethings may not even know how a credit union works. Credit union loan rates, especially for twenty-somethings, are substantially cheaper than they would be through a car dealership or a bank.

Third, spend below your income. This may seem obvious, but saying it is a lot easier than doing it. By spending below your income you can pay off credit card debt you may have or even put a percentage of your income into your 401 (k) plan. And yes, it’s never too early to think about your retirement savings.

Lastly, know how to manage your money. Without this vital skill, it could cause you to go deeper into debt or even file bankruptcy.

Hope this helps you twenty-somethings out there, I know it will help me!

50 Tips in 50 Days

ShoppingTipNo.27: Be a smart shopper by buying quality when it counts. Consumer tools such as Consumer Reports and Good Housekeeping reports can help you to get the best quality for the least money.

• It’s totally free!
• It comes with free eBranch services, free Teller Line, and a free Visa Debit Card.
• No minimum balance requirements.
• Direct deposit and payroll deduction available.

I see a pattern here… the word free, maybe? You’re missing out on a lot if you don’t already have our checking. Get the details here.

50 Tips in 50 Days

GroceryTipNo.36: Stick to the outer aisles of the supermarket. You’ll find the widest selection of unprocessed foods, which also happens to be less expensive and healthier!

Purchasing?

Until May 31, any Northwest Georgia Credit Union member who purchases a vehicle from Enterprise Car Sales and finances it with us will get a 32″ flatscreen HDTV! With our used auto loan rates as low as 3.99% APR and Enterprise’s trustworthy used auto reputation, we’re excited to sweeten the deal for our members. You can view the current Enterprise vehicle inventory at www.cuautodeals.com.

Refinancing?

If you aren’t interested in buying a new vehicle, then what about refinancing your current auto loan with NWGACU for free? If you have a vehicle financed with another financial institution or an auto dealer, you can save big when you bring it back to NWGACU. You can refinance your auto loan with us by August 5, 2011 and get rates as low as 3.99% APR on used vehicles! And if you’re shopping for a brand new vehicle, our new auto loan rate is unbeatable too at rates as low as 3.49% APR. When refinancing your vehicle, it often lowers your monthly payment and can help you save big over the life of your loan!

When coming by the credit union to open the loan, you’ll need to bring your latest loan statement with your current balance and interest rate, or your original loan documents, your latest pay stub, and the vehicle you want to refinance.

We work hard to make refinancing an easy, quick, and free process for you.

Questions? Visit www.nwgacu.org

Here’s what we’ve got planned:

• Free photos with Curious George
• The first 100 kids to open their Little Sprouts or Acorn Club account will not only get a free sock monkey, but they’ll also get $25 in their account for free! (Don’t forget to bring your child’s social security card!)
• Games on the lawn (shhh, don’t tell your kids, but they’ll be educational games.)
• Giveaways, fun, and food!

Don’t miss this! It’s open to the community, and it’s just our way of giving back. We’ll be there, rain or shine.

1. Who owns a credit union?

A. Stockholders

B. Members

C. Board of Directors

2. Credit union boards of directors are monetarily compensated for their time and service.

A. True

B. False

3. Credit unions are:

A. Not-for-profit

B. Non-profit

C. For-profit

4. Credit union boards of directors are:

A. Members of the credit union just like you–local professionals who want the same things you want from your financial institution.

B. Not necessarily members of the credit union–they are just local professionals offering guidance.

5. Service at a credit union is more personal and meaningful than a bank. Why?

A. Because we’re nice folks.

B. Because banks so many customers, so they are simply too busy to spend time with you.

C. Because members are the owners, we’re freed up to focus on our mission of helping people, rather than preserving a profit.

Ready for the answers?

1. B, 2. B, 3. A, 4. A, 5. C