Unify Your Goals, Unify Your Family, Unify Your Life.

August 2016 * Issue 1, Vol 37

Common Cents

NCUAYour savings federal insured to at least $250,000 and backed

by the full faith and credit of the United States Government

National Credit Union Administration, a U.S. Government Agency

BOARD OF DIRECTORS

Lisa Wimberly, Chairman

Ray Sides, Vice Chair

David Pontius, Treasurer

Dolly Bugg, Secretary

Mary Jane Bevill, Director

Jerome Carr, Director

Teresa Mason, Director

Gordon Neighbours, Director

Bobby Simmons, Director

UPCOMINGCREDIT UNION

HOLIDAY

Labor DaySeptember 5

Shelby County Federal Credit Union

Routing Number:

284085197

Back to School BudgetingThe average family will spend almost a whopping $600 to gear up each child for a new

school year. New clothes, school supplies, backpacks will add up to big expenses, par-

ticularly if you don’t have a smart shopping plan. Check out these tips to see how you

can get an A+ on savings.

Inventory What You Have Already

Comb through drawers, file cabinets and

desks and you’re bound to cross off pens,

pencils, glue sticks and other supplies on

your list. If you can, reuse last year’s back-

pack, pencil case and other hardware that

costs a bit more.

Shop Smart

Dollar stores, thrift stores and garage sales

can be a treasure trove of deals for back

to school supplies. Backpacks, gently used

shoes, clothing, and even school supplies

can be picked up for a song. Shopping

online can result in big savings particular-

ly when shopping for clothing. Amazon

often carries department store brands but

at much lower price points.

Set Budget Limits

As kids get older, they’re more likely to want expensive designer clothes and school

gear. Trendy clothing can especially take a toll on the cost of your shopping card. Talk

with your kids and give them limits on their clothing and supply budgets. If they still

can’t live without their designer garb, make them earn it by doing chores or getting jobs

around the neighborhood. They’ll quickly learn the value of those expensive pieces.

Avoid Peak Shopping Months

August and January are the months when school supplies are most expensive. If you

can wait a bit, most of the supplies will be heavily discounted once school starts.

Join Loyalty Clubs

Stores likes Target, Walmart and Office Depot will send their loyalty club members texts

about special deals and coupons. Go to the website of your favorite store to what

types of programs they offer.

Contact a Loan Officer to see if you are

eligible!

Downtown Main Branch150 Washington, 3rd Floor, 222-1900

Sycamore View1160 Sycamore View, 377-8929

ShelbyCountyCU.com

Protect Yourself from ATM SkimmingATM fraud, or skimming, is when an illegal device is covertly attached to an ATM reader in order to steal a card holder’s card information. Unfortunately, ATM skimming is drastically rising. ATM users need to be aware of some important ways to protect themselves from this kind of fraud.

Stick with ATMs inside of banks. Avoid ATM machines that are in gas stations, convenient stores or located on the street where a criminal may have access to install the device. ATMs that are located inside the vestibule of a bank are under video surveillance and are much less likely to be hacked.

Examine the ATM machine. If the ATM machine slot looks slanted, if there’s a new keypad on the machine that doesn’t match the rest of it, or if it looks odd in any way, there might be a chance that it has been compromised. Your best bet is to walk away and a different machine.

Cover Your Card. Thieves will install a camera to observe the PIN number you enter. Be sure to always cover the keypad when you enter your PIN, even if you think you might offend other cus-tomers behind you. Better to be safe than sorry.

Chip Reader Cards. Chip reader cards contain a code that makes it harder for thieves to counterfeit. Shelby County Federal Credit Union will be switching all of our cards to chip tech-nology starting this October, so be on the lookout for your new, more secure cards!

Take 5! A Budget That’s Easy to UnderstandLeave it to Oprah to come up with a budget that just makes sense for everyone! The 5 category debt diet can get your fi-

nances in order in no time!

Housing should comprise of 35 % of your take home income. That includes the mortgage or rent, all home repairs and maintenance, property taxes, utilities such as electricity, gas, water, and sewer, and homeowner’s or renter’s insurance.

Transportation should take up no more than 15 % of your take home income. That in-cludes any car payments, gasoline, car insurance, repairs and maintenance, parking, train or subway tickets. Remember, transportation doesn’t just include your car payment. It includes everything: your car payment, your oil changes and your tune-ups, etc.

Other living expenses, which are predominantly discretionary expenses, should take up 25% of your income. This includes eating out, buying concert tickets, buying new clothes, going to sporting events, and taking the family on a nice vacation.

Savings should consume 10 % of your budget. This is predominantly for retirement as well as building an emergency fund.

Debt Payoff should consume 15 % of your income. This includes your credit cards or student loans. It does not include your minimum mortgage or car payment, which are listed under “housing” and “transportation.”