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This Week @ Founders Federal Credit Union

A woman covering her eyes as if she made a big mistake.

Avoiding Common Financial Pitfalls

Each stage of life brings new financial responsibilities and challenges. Let's take a look at some common financial pitfalls people experience in each decade.

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Featured Resources

Topics chosen by Founders Federal Credit Union experts.

Hand running credit card through credit card machine.

Credit vs. Debit Cards
Credit and debit cards each have pros and cons. When should you use each?

Boy Scout in uniform with hand raised for Scout Pledge. Boy Scouts written above.

Credit Reports and Scores
Credit reports and scores determine the rates you pay when borrowing and can affect your ability to get certain jobs.

Pile of different credit cards.

Risks and Benefits of Credit Cards
Credit cards offer benefits for many consumers, but it's important to understand the risks of unsecured credit.

Credit Report with Score

Building Credit
Understanding the decisions and behaviors that can lead to improved credit scores.

Stack of credit cards.

Understanding the Credit Card Act of 2009
How the new regulations work to protect card holders.

Printed Credit Report with Pen next to it.

Reading Your Credit Report
A detailed description of what to expect and look for when viewing a credit report.

Select Courses

Guided learning experiences created by Founders Federal Credit Union.

Understanding Insurance

33 minutes

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Understanding the common types of insurance, including auto, renters, health, plus more.

  • Insurance
    Understanding how insurance plays an important role in our financial lives.
  • Auto Insurance
    Types of auto insurance, factors influencing cost, and choosing a policy that's right for your situation.
  • Life Insurance
    Who needs life insurance, types of policies, and how to determine coverage.
  • Renter's Insurance
    Understanding the benefits (and potential pitfalls) of this type of inexpensive insurance.
  • Health Insurance
    The various health insurance choices.
  • Disability Insurance
    The benefits and costs of these often complex policies.
  • Grade
    Calculates the grade for a course.

Saving and Investing

36 minutes

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Why and how to invest, including how to save money now.

  • Saving and Investing
    The difference between investing and saving, and how to tell what's the best option for your needs.
  • Types of Investments
    The pros and cons of stocks, bonds, and cash. The concept of asset allocation is explained.
  • Investment Accounts
    The types of accounts available to investors, including both taxable and tax advantaged accounts.
  • Saving for Retirement
    Why save for retirement and the impact of fees on investment performance.
  • Retirement Saving Strategies
    How to develop a comprehensive retirement savings strategy.
  • Retirement Accounts
    An overview of the major retirement accounts, include Individual Retirement Accounts, Simplified Employee Pensions, and 401(k) plans.
  • Retirement Savings Ideas
    A few simple things to keep in mind when starting a retirement savings plan.
  • Individual Development Accounts
    Understanding the benefits of IDAs, how to qualify, and where to find a program.
  • Grade
    Calculates the grade for a course.

Paying for College

54 minutes

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The basics of financial aid, including the types of aid, applying for aid, borrower responsibilities, and repayment strategies.

  • Financial Aid Introduction
    Whether you're considering higher education for yourself or starting to plan for the education of your kids, understanding the financial aid process is the first step to meeting your education goals.
  • Understanding Financial Need
    Some aid is based on financial need and some is not. What exactly is "financial need?"
  • Independent Student Status
    Understanding your financial aid dependency status, including a discussion of what to do if the parents of dependent students refuse to help them pay for college.
  • Creating an Aid Strategy
    Considerations when planning to pay for school, including school choice, employment options, accounting strategies, and the importance of borrowing wisely.
  • Types of Financial Aid
    The main types of financial aid are education loans, grants and scholarships, work-study, and service programs.
  • Applying for Aid
    The aid application process, including descriptions of the FAFSA and Profile forms.
  • Education Loans
    A description of the main types of student loans, including government loans, consolidation loans, and private loans.
  • Choosing the Right Loan
    Questions every student should be able to answer before taking on a student loan.
  • The Master Promissory Note
    An introduction to the agreement that specifies your rights and responsibilities when accepting a student loan.
  • Repaying College Debt
    Common repayment plans are outlined, as well as instructions for finding your loans and the consequences of non-payment.
  • Choices About Colleges and Careers
    From a financial perspective, the most important decision you can make about college is whether or not you go and what you plan to study.
  • Borrowing Wisely
    Making smart choices about student loans, including a description of the impact of loan capitalization.
  • Dealing with Too Little Aid
    Why some students find themselves with too little aid and what can be done to make ends meet.
  • Grade
    Calculates the grade for a course.

Managing Student Loan Debt

47 minutes

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An introduction to student loan repayment choices and strategies. Visit the Library for in-depth coverage of repayment plan options.

  • Making Smart Repayment Decisions
    Flexible federal student loan repayment plans can help you avoid financial trouble and reach your financial goals.
  • Repayment Strategies
    To repay your student loans, you need a comprehensive strategy to put your education debt in a larger financial picture that includes your income, non-education debt, and long-term goals.
  • How Repayment Plan Choices Affect Loan Cost
    Your repayment plan choice can greatly affect your monthly payment and the total cost of your student debt.
  • Deferment and Forbearance Options
    Both deferment and forbearance can help you avoid financial trouble. If you think you might qualify, reach out to your loan servicer as soon as you first experience financial difficulty.
  • Managing Loans in Times of Financial Distress
    You can’t always prevent financial stress, but how well you manage it will make all the difference in how successful you’ll be in meeting your repayment obligation.
  • Grace and Deferment Period Strategies
    Federal education loans all offer a grace or deferment period – a set amount of time during which repayment is not required. How you manage loans during your grace period can make a big difference.
  • Public Service Loan Forgiveness
    If you work in certain fields or for certain employers, a portion of your Direct Student Loan debt may be eligible for forgiveness.
  • Loan Consolidation
    Loan consolidation can simplify the loan repayment process, but you must review the loans you plan to consolidate carefully – once consolidated, there’s no going back.
  • Grade
    Calculates the grade for a course.

 Upcoming Events

Living on Your Own: Factors to Consider

Thursday, August 8 at 2:00 PM EST
Online Meeting
Host: Money Management International

More Info

Preparing for Emergencies: Important Readiness

Thursday, September 12 at 2:00 PM EST
Online Meeting
Host: Money Management International

More Info

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