10 Feb

Getting Your Finances Ready for 2015 Part 2

Planning and Saving in 2015, Your Best Financial Year!

The holidays may be a distant memory past, but the debt you incurred while trying to make sure you gave everyone the present of their dreams has not. It’s time to get out of the red and into the black with some easy tips on budgeting and saving in the New Year!

Planning and Saving in 20151.) Make sure you’re getting the most out of your financial institution. Not all banks are created equal, and certainly not many (or any!) banks are better than credit unions (in our humble opinion). Does your financial institution offer free checking? Low interest rates on auto loans and mortgages? ATM fee refunds? Make sure you shop around and find a place that suits your service and financial needs.

2.) Establish your financial goals and then prioritize them. People often feel overwhelmed with everything they should be saving for, like paying off debt, buying a car, and/or building savings. It can feel a lot less impossible if you work towards one goal at a time. Decide what is the most important to you, and save for it. When you reach that goal, you’ll feel so good you’ll be ready right away to jump into your next savings project. Be sure to check out RMLEFCU’s Custom Savings Accounts!

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14 Oct

Gifts That Grow a Lifetime

Kids savings account RMLEFCU DenverIt’s hard to know what to get kids these days. The hottest toys one week can be quickly discarded the next. However there is one gift you can get a child or grandchild that never goes out of fashion, and that is teaching them the value of saving.

Opening a Rocky Mountain Law Enforcement Federal Credit Union account for a child now will help them develop a habit of saving that will last a lifetime. Unfortunately too many people have learned (and some who still haven’t) their lessons concerning living outside of their means. Using credit cards irresponsibly and spending more than one has can have lasting negative impacts on someone’s financial future. Teaching a child about the benefits of saving and financial responsibility will benefit them throughout their entire lives. Set up a child for financial success with a RMLEFCU account.

Need some more reasons? Here are 5. Read More

14 Jul

Retirement Planning for Young People

RMLEFCU Retirement SavingsSo you are in your twenties or thirties. Retirement seems like a long ways off. There is plenty of time to save and invest… right? Although retirement may be quite a few years away, what you do now to prepare for it will have a huge impact on your quality of living when you do retire. A dollar saved today can be worth ten dollars years from now!

Saving for retirement is very important. The earlier you start, the longer amount of time you give your money the opportunity to compound and grow. Unfortunately, one cannot expect to put their money in a traditional savings account and call it a retirement plan. Where you keep your retirement savings matters. Savings accounts, money markets, and CDs are all great places to keep money in the short term, however none of those accounts has historically kept up with inflation in the long run! That means your savings will be worth less when you retire!

Here are some tips to help you get started with retirement planning. Read More

24 Jun

5 Summer Saving Tips

Summer Savings Tips by Rocky Mountain Law Enforcement Federal Credit UnionThe 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!

  1. 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!

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