Scammers are working around the clock to access your private information and money. Safeguard yourself and your family by implementing these protective tips into your life. 

Strengthen Usernames & Passwords: 

Ideally, your usernames and passwords should be a combination of upper and lowercase letters, numbers, and symbols. You’ll want to avoid using key personal information like your social security number or birthday. It may seem easier to find one good strong option and use this for all your accounts, but that will leave you more vulnerable to hackers. If one account is breached, hackers are more likely to get more of your information by using those same credentials all over the web. Try your best to make each password memorable but different. You may benefit from using a secure password manager to keep tabs on what accounts use which login credentials. 

Sign Up For Two-Factor Authentication: 

Two-factor authentication is an extra layer of security you can opt into that verifies your identity by sending a code via email, text, or phone call before granting access to your account. Two-factor authentication is a better option than security questions that you may forget the answers to or that hackers can figure out easily with social media. 

Set Up Account Alerts: 

Take a couple of minutes to agree to receive alerts to your phone or inbox. These fraud alerts will allow you to monitor irregular account actions and suspicious charges. By being in the know, you’re less likely to be the victim of data theft. 

Avoid Using Public Wi-Fi: 

It may be tempting to use the free Wi-Fi available at grocery stores, the library, or doctors’ offices for a few minutes so you can have a speedier internet connection, but this quick use can have long effects. Hackers can easily steal your information from your favorite coffee shop’s free Wi-Fi and get access to your accounts and private information.

Use Your Smartphone At Checkout: 

Keep your transactions safe by using Digital Wallet tools such as Apple Pay or Google Pay. Adding your debit and credit card to your favorite mobile device will help you check out at thousands of retailers all over the world safely. Since each transaction creates a unique code, scammers aren’t able to get access to your card number or security code. 

Taking a few preventative measures can save you the financial and mental stress that hacking can cause. Share these tips with your loved ones and friends or send them this article.

Sharing your life with your long-term partner is a huge commitment that will be full of ups and downs. It’s important to discuss your financial preferences about how to manage your money to avoid unwanted misunderstandings. Here are some of the common ways couples handle their finances together.

Joint Finances: 

Some couples choose to combine their funds into one account. This option may provide a clean slate where each person contributes 50/50 to the household. If this strategy appeals to you, be sure to have an understanding of how much they each bring home in a pay period and that each person has a say about how the shared cash is spent. 

Separate Accounts: 

It may be easier to keep your finances separate, so you don’t have to change too much. While this option is convenient, you’ll need to put your heads together to break down which expenses each partner is responsible for. While this may seem easy, there can be challenges when the number of expenses is divided up but isn’t truly equal when you consider the amount each person earns, how much debt they have, and the amount their expenses total up to. 

Hybrid Funds: 

This approach allows each partner to have both a separate and joint account with the idea that mutually agreed upon expenses are paid out of a joint account. It’s still important to communicate with one another about both the joint and separate accounts in this situation to ensure transparency.

No matter what approach you think is best for your situation, here are some additional tips to help you.

• Make time to create and check-in with a realistic budget, so you and your loved one have a road map about how you handle your money.
• Set up automatic payments so no one can play the blame game when it comes to who forgot to pay what bill. 
• Communication is key whether it’s saving for a vacation, planning for retirement, or planning to grow your family, each next adventure will require some money, and you both  need to be on the same page.

AFFCU members have access to a wide range of savings, checking, and loan products to help you manage your joint and separate finances.

Your furry friend is more than a pet, its family member. Many pet owners take their pets’ needs into consideration in all aspects of their lives and home buying is no exception. If you are in the process of house hunting or will be in the near future you may want to keep the following recommendations in mind.

HOA PET REGULATIONS

• If the home or condo development you are interested in has a Homeowners Association (HOA), you should be aware of the pet restrictions. Many HOAs limit the number of pets that you can have in your dwelling. If you have more than the allowable number of pets, you might consider moving on to the next property on your list.
• In addition, HOAs may have breed restrictions. Breeds such as German Shepherds, Rottweilers, Pitbull Terriers, among others may not be allowed to reside within the community, because they’re considered aggressive breeds. Bring this up with your realtor so he or she can add this to the filter when searching available listings.

 

OUTDOOR CONSIDERATIONS

• Fencing and Yard Stipulations– Some HOA contracts prohibit electric fencing because a dog may still run through the boundary line making this an impractical barrier for your pet and your neighbors. HOA’s can stipulate the maximum height of an outdoor kennel and the size of a dog run or in some cases prohibit them all together.
• Car Traffic– If your dog is prone to getting out of your yard, you should consider neighborhoods that are not situated on busy roads or by a highway. You’ll also want to take into consideration how close you are to a greenbelt where native wildlife can pose a risk for s pets.

 

INDOOR CONSIDERATIONS

• Pet-friendly Flooring– Should you get wooden flooring or carpeting? From a dog’s perspective, the answer is most certainly carpet, since it’s padded and softer than wood floors. If you opt for carpeting, keep in mind that pet dander will accumulate and can trigger allergies.

 

SENIOR PETS & STAIRS

• Animal lovers typically allow their pets to sleep with them in their beds. If your bedroom will be located upstairs and you have a senior dog that is not very mobile, perhaps a one-story house is a better option.
• Maybe the house under consideration has a lovely patio but has steep steps leading down to the yard.  Senior dogs, especially those with arthritis, may find it difficult to climb. You will need to determine if a ramp will be needed.

Pets provide their owners with some much love and affection that it stands to reason we would want to make their lives as comfortable as possible. Buying a home is a huge commitment and for pet lovers, their four-legged friend’s needs are just as important.

If you would like to apply for a mortgage loan, AFFCU can help.

Your credit score may seem like an ambiguous number, but it can have a BIG impact on your financial life since it provides financial institutions and other companies with a snapshot of how “creditworthy” you are. 

Your credit score is a three-digit number typically ranging from 300 to 850 calculated by the three main credit reporting bureaus: Equifax, Experian, and Transunion. The information gathered is put into a scoring module, the most common being FICO.

How is your credit score calculated?

The higher your score is, the less risky you are to lenders. Your credit score is based on five areas and makes up a different percentage of your credit score.

• Payment history is the most important factor since it makes up 35% of your score! It also lets potential lenders know what your payment habits are. 
• Credit utilization makes up 30% of your credit score. The bureaus look at the entire amount of debt you owe, the amount of money you borrowed compared to the credit available to you.
• Credit history is the length of time you’ve had your accounts and the age of your credit history. This section makes up 15% of your credit score.
• Credit mix is the number of accounts you have open and the variety of account types you have in your name. This is worth 10% of your score.
• Credit inquiries are the number of recent credit inquiries or recently opened lines of credit and are worth 10% of your credit score.

What is a good credit score?

The range of good credit may vary depending on the credit scoring model. Usually, scores lower than 630 need some improvement, while any credit score of 670 or higher is considered a “Good” rating and scores above 740 are deemed “Excellent.”

How can you check your credit score?

Reviewing your credit report regularly is a great way to check for errors and determine areas for improvement. You can get a free copy of your annual credit report at annualcreditreport.com. Your financial institution may also provide free access to your credit score for free within their digital banking platforms too.

What can you do to improve your credit score?

• Keep your accounts open: Even if your balance is paid off it looks good to keep an existing account open to prove your creditworthiness.
• Stay up to date on your payments: Your payment history is the most important component bureaus use to calculate your score, so it’s important to at least pay your minimum balance on time. 
• Follow the 30% rule: A good rule of thumb is to keep your balance under 30% of your total credit limit. Potential lenders may think that you are managing your finances poorly if you max out your credit card every month.

Understanding how credit scores and reports can seem like a lot of work, but with a bit more knowledge you’ll be able to achieve your financial goals like buying a home or car. 

Let AFFCU continue to help you with your next goal. Learn more about our mortgage loans or auto loans any time.