As the holidays approach, gift cards remain a popular gift option, but they’re also a target for scammers. These fraudsters use tactics like phishing and tampering with physical gift cards to steal funds before they can be used. To protect yourself and your loved ones this season, it’s important to stay aware of these risks.
Having a well-stocked emergency fund is important. But so is saving for retirement. So how do you know which one to focus on? Well, we’ve got you covered. Here’s what you should know.
Halloween is a time for spooky fun, but it can also bring a scare to your wallet if you're not careful. From costumes to decorations and treats, the costs can add up quickly. Here’s how to manage your Halloween budget and keep your spending under control while still enjoying the festivities.
Now is the moment to turn your attention to your tax obligations. With less than 60 days remaining until the tax deadline now is a good time to prepare your documents and file.
Need a smart strategy to save on essential school supplies? Planning your dream vacation or gearing up for the holiday season? With a club account, you can save for essential school supplies, exciting vacations, and joyful holiday celebrations, making your financial goals more attainable and stress-free.
by Chris O’Shea
Winter is here, which means it’s time to start focusing on your heating bills. If you use gas to heat your home, inflation is going to make things tough. According to a study from the Energy Information Administration, you’ll likely spend about 30 percent more on heating costs this winter. No matter how you heat your home, there are ways to reduce the expense. Here are some tips that should help:
One easy way to save money on heating costs is to lower your thermostat. If you have a programmable unit, set it to lower the heat each day while you’re not at home and at night while you’re sleeping. According to Energy.gov, lowering your thermostat by seven to 10 degrees from its normal setting for 8 hours a day can reduce your heating costs by an average of 10 percent a year. That’s significant!
Just like you, your home will retain a lot more heat if you top it with a hat. A home’s “hat” is insulation. Packing — or replacing — insulation in the attic or roof will do wonders for your heating bill. You can do it yourself, and there’s even a federal tax credit to cover materials, but it can get pretty messy. If you go the professional route, make sure you shop around for the best deal.
Your hot water heater can contribute to expensive heating bills. As The New York Times reports, most hot water tanks are set to 140 degrees. At that setting, your tank can waste money via standby heating. If you set the tank to 120 degrees, you can save an average of $400 per year.
Need help managing your budget? As a member of MVCU, you have access to free financial counseling through GreenPath Financial Wellness.