Wisely choosing a daycare for your baby

You look at your baby for the first time, and feel as though your heart has literally melted. Your world becomes complete in that very instant. You bring the little pumpkin home to cuddle, kiss, and love. You find you are so in love that you can’t keep your eyes off of them, amazed at how perfect they are. Yep, you’re hooked.

Then, after about six weeks, reality sets in and you realize that soon, someone else will be spending the majority of the day with your baby, when you want nothing more than to never leave their side. Ugh, work!! You dread the day you have to return…

Like most mothers nowadays, I have to work full time in order to tackle those little pieces of paper with due dates staring you down, which seem to pile up on the kitchen counter. The result: daycare. My overall experience in the dreaded search was tolerable, with an excellent outcome. After surveying about 10 potential candidates, I made my final decision on who would get the privilege of caring for my little angel while I worked.

For me, the most important thing was how comfortable I felt with the caretakers and their interaction with the babies. Also, cleanliness! An extra bonus, my baby’s teacher is an R.N! Yep, I was hooked. No doubt about it, these people were worthy of caring for my baby. My first day back to work, I drove him to his first day of daycare, and avoided the fact that I could have a panic attack at any moment. The hardest part was knowing how much time I would be away from him and what I could possibly miss out on. Would I miss his first smile, first word, first steps??? I had to trust that someone I didn’t even really know would take as good of care of him as I would. The drop off wasn’t as bad as I thought it would be. I thought I’d be a complete wreck and everyone would have to be throwing tissues my way. But, when I got there, everyone remembered my name as well as my baby’s. They were all so excited to get their hands on him, and also wanted to make sure I was doing okay. They made me feel at ease, and I knew he would be in good hands. So far, he has been!

Lucky for me, my mom worked in a daycare for over twenty years. She was by my side during the search, asking questions that needed to be asked, examining the classrooms and teachers, yada yada yada. These are some of the questions we felt were important to ask while performing the search:

Some of this information should be posted at each classroom, but it’s good to ask the questions as well….

1. What is the child to teacher ratio in all the classrooms?
2. What is the schedule for activities in each classroom?
3. What is the typical lunch/snack menu?
4. Do you offer staff any kind of benefits?
5. Are you accredited or just licensed by the state?
6. What deficiencies did you receive from your last state visit?
7. Is there an outside play area? If so, how often do the children go outdoors?

Now, the list of warning signs (in other words, proceed with caution):
1. Unhappy children
2. Un-cleanliness of children or classrooms
3. Smells (especially in younger classrooms)
4. Unhappy/agitated staff
5. Children seeming bored

There’s just one more thing I feel compelled to add. Remember, daycare really is good for your child. As hard as it is to be away from them, it gives them great social skills. They learn to not only depend on their parents and also how to interact with other children. You’re a mom now. You have that maternal instinct. Use it!

Time for a Cardigan

Fall is in the air, and the morning temperatures say it’s time for a cardigan. As you bring your fall clothes down from the attic or up from the basement, take a look at your spring/summer wardrobe. Are there things that you didn’t wear? Instead of just packing them up, set the clothes you didn’t wear to the side. When spring comes around, have a yard sale to earn some extra cash.

Then, as you pull out the fall/winter clothes, do the same thing. Do you have enough to have a fall yardsale? If so, bust out the clothes racks, poster boards, markers, and pricetags. With the money you earn, head to the mall. Now is the time to stock up on spring/summer items for next year. Most stores are trying to make room for the latest trends, so you’ll benefit from major price reductions.

Windows 7, We’ll Be Ready for You!

In light of the upcoming Windows 7 release (October 22), I’ve talked with some members of our IT department about the possible issues that it will bring to our members’ online banking.  I was assured that preparations are underway for licensing and any potential problems that could arise. 

Incidentally, I’ve done some research on the Windows 7 release.  Reviewers and beta testers are reporting that Windows 7 behaves similarly to Windows Vista in the sense that there are expected compatibility issues.  The up-side is that Microsoft has changed the taskbar entirely to compliment the drag-and-drop interface of Windows Explorer.  You can read more about this as well as other features at laptoplogic.com. 

As far as whether you should upgrade, I’ve read mixed reviews.  Some say that if you are comfortable with Vista, that it may not be worth your time to go through the hassle of upgrading until the bugs are worked out.  Others say that the upgraded features make Windows 7 more efficient of an operating system.  With the compatibility issues that have arised in beta testing, my personal opinion would be to research your computer’s (as well as your software’s and accessory components’) compatibility before considering an upgrade.  As always, letting those who upgrade early deal with the bugs that come with any most new operating system’s release may be the best course of action.  For more about whether you should upgrade as well as a more positive outlook for Windows 7, read PC World’s review of Windows 7.

As always, Park Community strives to keep our site and our service up-to-date so you can better live your life your way!

Where’s the Party At?

We at Park Community Federal Credit Union try to put emphasis on the community. That being the case, we’re often found at different places in our servicing areas for festivals, shows, events, etc. Sometimes we even host our own events for the community! That being the case, if you ever want to see your community credit union having fun and spreading the word about the credit union difference, you can join us at these events!

September

25 & 26 – Bluegrass Balloon Festival

28, 29, 30 – Eastern KY University

October

1-4 – St. James Festival

5, 6, 7 – Eastern KY University

8 – Discover Dixie

10 – Hillview Safety Day & Southwest Festival

22 – Fern Creek Festival

31 – Zoneton Festival

We hope to see you sometime in the near future!  Also, be on the lookout for our Free Pictures with Santa event coming in December!

What the Credit CARD Act means for you

I know we’ve already posted about this, but since it’s kind of a big deal, I’d like to touch over it again.  The Credit Card Accountability, Responsibility and Disclosure act goes into effect in Februrary of 2010, and there’s a great many changes that come with it.

Interest Rates
The one thing that we associate with credit cards is high interest rates.  Auto loans, mortgages, and even unsecured loans do not even compare to most credit card interest rates.  What’s worse is that rates for younger people without established credit is so high that they could potentially be paying off a balance for years to come.  The Credit CARD act doesn’t force issuers to reduce these interest rates; however, if interest rates go up, your new interest rate will only apply to new purchases rather than to existing balances.  However, keep in mind that card issuers can still raise rates on existing balances until the act goes into effect in February.

How Payments are Structured
In the past, if you had different rates for different card services (purchases, cash advances, fees, etc), and each service had a different interest rate, your payment would go toward the balance that carried the lowest interest rate.  This means that your full balance on the highest interest rate was left alone so that the credit card issuer would acquire more profit.  With the reform act, any payment you make will be applied to the balance with the highest interest rate first.  Remember, another way to avoid being charged extra fees and penalties is to make your payment on time, even if it’s just the minimum payment.

Giving You Ample Notice
Did you know that card issuers can make changes to interest rates at any time they want with no notice?  They can even retroactively change rates and policies on your purchases that are 2 months old.  With the reform act, any change what-so-ever to policies, terms of service, interest rates, etc will require the issuer to notify cardholders with at least 45 days’ notice.

Age Requirement
If you’re fresh out of high school and looking to get started, a credit card may be a very tempting means by which to do so.  With the reform act in place, anybody under the age of 21 will have to have a co-signer to receive a card.  The exception is if the person can prove that they have a job that allows them the means to repay the charges made.  This might be considered a burden; however, there aren’t many people I know who didn’t get into some sort of trouble with credit cards just after graduating high school.

More Time to Pay
Starting in February, issuers will be required to give you at least 3 weeks (21 days) to pay your bill.  I’ve personally noticed that the time between getting some of my bills and the amount of time to pay them on time has been narrowing recently.  I’m not saying that companies are trying to trap people into having late fees and subsequent credit problems, but it kind of makes you wonder.

 

This act will help protect consumers from getting in over their heads with credit cards.  It’s not a miracle law, though.  Responsible financial behavior is still the best policy to avoid the risk of paying high interest fees, late fees, or penalties that come with credit cards.  If you are a Park Community member and need help setting a budget or managing debt, you can call our financial counseling partners at Accel at 877/33ACCEL.  For a list of operation hours, visit parkcommunity.com.

Sources:
TrueCredit.com
PersonalDividends.com

Check Cashing Can Cost You

Did you know that Americans spend over 8 billion dollars a year just in fees incurred when cashing checks?  That’s $8,000,000,000!  It would be over $25 annually each and every American would have to pay from using check cashing service centers.

These service centers can be convenient.  They usually don’t require a credit score.  They are also expensive.  The national average rate in 2006 for a check cashing service center to cash a payroll check was 4.11% of the check’s value.  That means that it costs over 20 bucks to cash a $500 check!  That’s $20 you could use for lunch, gas, a date, you get the idea. 

We at Park Community would love to be able to save you money by not having to be hit with these kinds of fees.  If you have a credit score of at least 475 and meet our other membership criteria, you can be eligible for a Park Community savings account which would allow you to cash a check for free.  We also offer checking accounts that have low requirements (such as our Fresh Start account) that will allow you not only the ability to cash checks for free, but to write them for free as well!

Statistics were gathered from the REAL Solutions blog.

The Three Rules of Smart Money Management

There’s been a lot of information going around about how to be smart with money, how to invest wisely, where to save and things like that. It’s all good information, and maybe you want to get into that eventually; but the foundation of having no money problems is really very simple. There are just three laws you need to keep. Follow them and you’ll find yourself with extra cash on your hands within just a few short months.

Ready?  Here they are!

1. The Law of Ten Cents.

When you keep this law, you take ten cents of every dollar you earn or receive and HIDE IT. You can hide it in your credit union savings or share certificate account, in your mattress, or in a hole in your backyard. It doesn’t matter. Get used to living on 90% of your income while ten cents of every dollar gets put away. Some people call this “paying yourself first”. Whatever you call it, follow this rule and you will soon be on your way to building a very comfortable nest egg.

You might think that 10 cents on the dollar is not going to get you very far. But consider this: you can get used to living on 90 cents for every dollar you earn, and after ten months, you will have a full month’s salary put away. Not bad, huh? In ten years time, you can technically take a year off. What to do with that nest egg? We can talk about that another time. Meanwhile, the important starting point is to get used to keeping the Law of Ten Cents.

2. The Law of Organization.

Quick – how much money is in your share draft account right now? How about your savings account? How much do you owe on your credit card? If you don’t know, and if it would take you more than three minutes to find out, you’re not keeping a law that’s easily kept. According to the Law of Organization, you should develop a clear picture of what is where at all times and update it frequently.

Set up a system for tracking all your accounts. Microsoft Money is a good one, but there are others too. It’ll take a few hours time to set it up, but once you’ve done it, regular maintenance shouldn’t be more than twenty minutes a week.
Think also of how much you can buy with the money saved on late fees, insufficient funds fees, and all the other expenses of not having your finances in order. The Law of Organization will help you avoid all that and more.

3. The Law of Enjoying the Wait.

It’s widely accepted that good things come to those who wait. If you MUST have things before you have the money for them earmarked, you’ve fallen prey to the great American debt machine. The Law of Waiting states that you PAY, and pay well, for having things NOW. If you can wait until later, and put money away specifically for the purchases you have in mind, you will have outsmarted the debt monster. No debt.

How much do you pay to get things sooner? Look at your interest rate and figure it out. Debt isn’t cheap. Think of how many things you could have bought with that wasted money! When you realize how much smarter is it to buy things when you have the money on hand, you’ll actually begin to enjoy the wait.
If you’re serious about getting your finances under control, you’ll follow the three laws of smart money management.

Article source: CUContent.com

Back to School Supplies and Demands

When you’re a parent of multiple children in school, the “back to school” season can be taxing on your time, wallet, and patience.  To relieve myself of a lot of unnecessary stress, I have a few tips I follow to make the start of the school year less of an issue and more of what it’s really about: my children. 

Tip #1
Combine their supply list and when ever there is a duplicate, buy in bulk  (i.e. glue sticks)
This is especially helpful when you have children in the same age group. Obviously, a teenager won’t have much use for a set of crayons, nor will a kindergartener need the newest graphic calculator.

Tip #2
Definitely watch the sale ads, but a great place to go is a dollar store. 
Saving money, a dollar at a time. Your kids get the supplies they need and at a bare minimum of expense. They may complain about using an off-brand, but the functionality should still be adequate to their school needs. Additionally, bulk packages of pencils, markers, etc can be purchased for considerably less, and then distributed amongst your children equally.

Tip #3
Stock up on the supplies that you know will run out during the school year and get them now while they are on sale (crayons, pencils, glue sticks)
Fortune favors a prepared mind. Get what you think you need now plus a little extra. You’ll pay less for it now, and any leftovers can be used the next school year. Additionally, extra supplies may be needed if something breaks or is lost (which never happens, right?)

Tip #4
Reuse what is left over from the previous year (backpacks, pencil boxes,)
Following closely with the previous tip, keep what you don’t use and you can use it next year. Most school supplies will retain their level of use for a very long time in a dry atmosphere.

Tip #5
Start putting back money on the last day of school the previous year so you have all summer to save for supplies.
Depending on the number of children you have, you may need more or less time. A good rule of thumb is to think of the highest amount of money you’ll need and add another 10% to your savings goal. This ensures that you aren’t met with an unexpected expense. Additionally, an iPlan account here at Park would be a great way to save up for this expense!

Tip #6
School clothes
Hand me downs from older children (cousins, neighbors), consignment stores, etc are a great way to save money on your child’s wardrobe. If your child goes to a school that requires a specific style of dress or a uniform, find a family that has older children and arrange to buy their school uniforms at a discounted price at the end of the year. You can do the same by finding a family that has younger children (if you yourself don’t) to buy your child’s school uniforms.  This money can be used toward new clothes for your child(ren).  Also, shop for next summer/winter clothes when it is on clearance at the end of the season.

Tip #7
Shoes
Buy one get one free stores are great.  Check out Zappos or other warehouse outlets for deals.  You can also check out outlet malls while you are on vacation.

A La Carte Pays Off, Sometimes

On Fridays, I like to treat myself to a nice greasy burger from one of the hamburger chains near our branch. Even though there isn’t a double cheeseburger combo on the combo menu, I always order a double cheeseburger combo. It’s easier than rattling off 3 different items, and I’ve always assumed I was getting a better deal with a “combo.”

Today, I got stuck behind someone with a really long order. After checking Facebook and tidying up the car, I began to browse the drive-thru menu. I frequent this establishment often, so I already knew my order would come to $4.12. However, as I looked at the price of my individual items I discovered that I was actually cheating myself by ordering a “combo”. By ordering my items individually I would save $0.33, making my total $3.79.

When I finally pulled up to the intercom, instead of ordering the items individually, I still ordered the combo.

“$4.12, please pull around,” she said like clockwork. When I got to the window, I asked her to cancel my order and key them in individually. “That’s not going to make a difference,” she said.

“Humor me,” I said.

“That will be $3.79…hmm, that is cheaper!”

Lesson learned: It pays to take the time to be an informed consumer. Combo meals do often save you money, but take the time to verify your savings. Whether you’re at a drive-thru or sit-down dinner, do the math.

Another tip, some restaurants add things like beans and rice to make it a “dinner” or combo. If you end up not eating those things, order a la carte. It can save you money and keeps you from wasting food.

The Race to Financial Freedom

In the fall of 2001, I joined with a group of friends and began training for the Disney Marathon. We started in September for the race that was scheduled on January 6. Four and a half months of monotonous and tedious training followed, with each of us supporting the others and offering guidance along the way. Just knowing there were others there to help you out and counsel you and offer advice made the experience possible. I can’t imagine doing it alone.

Achieving financial goals is often like a race. We want it to be a short sprint with quick results, but often it is a marathon that requires a commitment over time. Planning for retirement, saving to buy a house, paying down debt or even lifting yourself up from a seemingly deep hole can seem overwhelming. Sometimes you need the support of others to pull you through.

At Park, we recognize that and are launching our first “$aving Families” program to offer our help to the community. We have chosen four families to participate in the program with Park and WDRB-41. We will offer financial counseling and support over a 40 week period to help these families reach their goals. WDRB will follow the progress with periodic reports to be aired on television. In addition, the families will keep a blog on the WDRB website to allow others to follow their progress and offer advice about what methods have worked for them. At the end of the contest, the family that has done the best job reaching their goals will be awarded a cash prize of $5,000.

We at Park are excited about the opportunity to help families in our community. We invite everyone to tune in to WDRB and follow the success these families have over the next few months. Our hope is that other families will “play along at home.”

And as for the marathon….yes I finished.