budget hacks Archives - RMLEFCU Blog

15 Jan

5 Things You Should Stop Spending Money On

An easy way to reach those saving goals is to reassess your budget. We all have things we could trim from our budget and we’ve compiled a list of five things you should stop spending money on, without compromising your quality of life.

Coffee

I’m sure you’ve seen this on every list highlighting ways to save, but it is true! Coffee from your friendly neighborhood coffee shop is expensive. If you’re spending an average of $5 every day on coffee, that can add up to about $1,300 a year! A small bag of ground coffee and/or some sweetener and milk would cost you around $15 and last a few weeks. Newer coffee makers even have a setting to start brewing coffee automatically at a specific time so you won’t waste any precious time in the morning getting it ready. This coffee maker has an option to brew in a carafe or a personal mug. If you really enjoy the fancy drinks, treat yourself to one a week! $260 a year for coffee is far better than $1,300.

Bottled Water

Stop spending money on bottled water and start using a water filter! By using a water filter, you are not only helping to reduce waste, but you’re also helping your wallet! This faucet mounted water filter is easy to install, affordable AND makes your water taste good. Unlike water filter pitchers, you don’t have to wait for the water to filter, it comes straight out of the faucet fresh and ready to drink!

Landlines and Fax Lines

Nowadays, most people have cell phones and, much like payphones, landlines and home phones are being phased out. If you have a landline, this means you also have a separate phone number and it’s much easier and more convenient to use one phone number so stop spending money on that extra line! If in any rare case you need to fax a document, any delivery service store or local office supply store will either have a fax machine you can use or can fax the document for you.

Books and Newspapers

There is something special about holding a freshly printed, new book in your hand, but how often will you reread that book? If the answer is rarely, it’s time to head to the library and check out those books. Don’t want to deal with a hard copy? Within the past few years, libraries have added and expanded their eBook and audiobook collections. These digital copies don’t require a physical trip to the library so you can rent and return right from your digital reading device.

ATM Fees

Your checking account should be free of fees, and if it isn’t, it’s time to switch banks. These fees will take a bite out of your budget when only “a few dollars here and there” start to add up and especially when ATM fees hit a record high for the 14^th straight year in 2018. RMLEFCU provides a Kasasa checking account that’s not only free, but it will refund your ATM withdrawal fees nationwide at participating MoneyPass ATMs. To find one of these MoneyPass ATMs, RMLEFCU has a free app to easily locate the ATM nearest you.

For more great money-saving tips, head over to our blog! If you have any questions regarding your account or setting up an account, call us at (303) 458-6660 or stop by a branch today!

10 Aug

Budget Hacks for Your End of Summer Road Trip

Gas Prices often rise in the summer. The reasons are numerous. More people are traveling by car this time of year = increased demand. Also, there are summer and winter blends of fuel and the former is more expensive as it uses different additives and refineries have to shut down before they process it. Gas is averaging around $2.70 a gallon for regular right now in the Denver area but consider yourself lucky since gas was near $3.69 a gallon last year at this same time.

Solution: Pack light, leave early, check your fluids and air pressure, and don’t speed. These steps will help you increase your fuel efficiency. Read More →

22 Jan

Car Buying Tips: Getting a Fair Price on a Quality Car

So you’ve made the decision to buy a new car! Now it’s time to start the process of looking for and purchasing the right vehicle. It is, most definitely, a process, but with these hot tips from RMLEFCU you’ll be sure to get your car at the best price.

Research online:

This is probably the best car-buying tip we have. From the comfort of your own couch, you have access to millions of customer reviews, professional reviews, videos, photos, price ranges, etc. You can find out anything there is to know about a car except for perhaps, what it actually feels like to be in that car. You can even go so far as to purchase your car online, but we don’t suggest that. Check out our auto resource center powered by Autotrek for help in finding your perfect fit.

Get preapproved for a car loan

This is key in a few different ways. First of all, financing through the dealership will only allow them to squeeze that much more money out of you through “financing deals” and “special interest”. Having the money ready from a different source cuts their negotiating power and adds to yours. Second, getting a preapproved loan allows you to shop around, in no hurry, for the best deals. While most dealerships won’t go below 4% interest, a lot of credit unions, like RMLEFCU will often go as low as 1.99% APR*. That’s practically free money! During February, 2015 we are sweetening our already great rate by offering no payments for 90 days! Read More →

17 Oct

7 Helpful Tricks to Help You Save for the Holidays

The holidays are an expensive time of year. Between travels, gift giving, and food costs your bank account can really take a hit. Here are some tips to help you save money leading up to and going through the holiday season.

Pack it in – If you don’t already pack a lunch to work, its time to start. Do you buy your coffee on the job? That $3 cup of coffee every day adds up. Especially when you can make coffee at home and bring it with you for a fraction of the cost. The same goes for water. You can save a bunch of money by refilling a water bottle rather than buying a soda from a vending machine. Plus, it’s good for you!
Cook what you have – While we are on the topic of food, cook what you have sitting in your cupboards! If you are like me, the cans of refried beans and boxes of rice seem to be multiplying in the drawers. Now is a great time to use up the non-perishables tying up your holiday cash. There will be plenty of time to indulge over the next couple months. Hate this idea? Donate your non-perishables to a food pantry so someone less fortunate can enjoy them.
Use a Rewards Card – Start using a RMLEFCU rewards credit or debit card for all your purchases and earn points. Redeem those points for electronics, gift cards, and other gifts. Put your spending to work twice!
Recycle your electronics – Have an old phone or a tablet you’re not using any more. Electronics recyclers like Gazelle or Glyde will pay good money for used devices that are sitting around unused in your home.
Plan Ahead – Planning your gift giving ahead of time will allow you to be more price conscious. Shop around, set limits on gift spending, and take advantage of crazy sales like Black Friday and Cyber Monday. When you scramble to buy gifts as the holidays approach you will undoubtedly overpay and overspend.
Second guess your purchases – This isn’t as fun as buying a new shirt or getting a tasty candy bar from that convenient vending machine down the hall but it can save you lots of money to spread more holiday cheer. Every time you pull out your wallet say to yourself: “Self, do I really need this?” You’ll be amazed at how well it works.
Get help from RMLEFCU! – At RMLEFCU we try to make the holidays easier where we can. If you really need some extra money during November and December, we can help.

Holiday Loan SlideBy – Skip a loan payment in November or December! Learn more and get the form in our quarterly newsletter The Dispatch.
RMLEFCU Holiday Loan – Need a little extra money. Borrow up to $2500 through December 31^st and take 12 months to repay. Interest rates start as low as 7.95% APR*. Call (303) 458-6660 for more information.
Get a HELOC – With rates as low as 3.25% APR** a Home Equity Line of Credit is another great way to get some cash for large purchases and home improvements. Currently we are running a great promotion. HELOCs of $10,000 or more will receive a Carnival Cruise for two! Why not just avoid the holidays all together and go to the Bahamas?

5 Summer Saving Tips

The summer is finally here! It is time to get out of town and go on vacation or just enjoy the summer in the city. Whatever you decide to do this summer, consider these 5 budget hacks for saving some money so you can enjoy your favorite activities even more!

Drive Green – You don’t need to go out and buy yourself a hybrid to save money on driving. There are many things you can adjust about your driving habits that will save you money. However, if you do need a new vehicle anyway, check out the fuel-efficient options at AutoTrek and check out the great car buying tools in our auto resource center.

Combine Trips – Combine your errands and think of the most efficient route to cut down on miles driven.
Lose the Weight – Don’t leave extraneous items in your car. The more weighed down your car, the more energy it takes to get you moving.
Don’t Resist – Take off Thule boxes and unused rack attachments. The less wind resistance on your car, the better your fuel economy will be.
Drive the Speed Limit – You should be doing this anyway but if not, try driving the speed limit, it can save you some serious dough.
Don’t Race Away – Accelerate slowly. The quicker you accelerate, the more fuel your vehicle will use.
Carpool – The more people you can cram into your car, the less fuel per person!