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Scams to Watch out for in 2024

Posted on: January 22nd, 2024 by Ashley

A new year could bring new scams.

Scammers and fraudsters are constantly looking for new ways to get money from you. It is up to you to protect yourself from falling victim to a scam. Oftentimes scammers are so sophisticated that they can trick you into willingly giving them cash or worse, your account information. If this happens, it’s usually impossible to get your money back.

This year, we are going to take some extra time to chat about scams, and how to protect yourself from becoming a victim. Because these topics are so important, we are including a chance to win one $20 Visa gift card for every blog posted with the topics of fraud and scams. Take the one-question quiz at the end of each blog post about fraud and scams, answer correctly, and you’ll be entered for a chance to win!

Scams in 2024: Artificial Intelligence

Scammers might use new technology, like AI, to add new twists to scams that have worked in the past.

Today, we’re going to talk about AI powered scams. Artificial intelligence can easily create videos, photos, and voices that look and sound like celebrities, your employer, or even your relatives. You are tricked to believe that you are speaking to someone you know and trust, but you are not.

These impersonation scams or deepfake scams are on the rise and can be extremely realistic.

Grandparent Scam

A common AI scam is when a scammer calls someone pretending to be a grandchild (or other type of relative). AI can collect audio data (from social media or other sources) to clone your relative’s voice and sound like them when they speak to you. They will mention a stressful or urgent situation they are in and request money. They may also request you keep it a secret from the family so they will not be embarrassed (affecting your emotions by making you feel special that this “relative” reached out to you, but to also avoid getting caught in their scam). Then, they request a wire transfer of money or that you buy gift cards and give them the information.

To avoid scams like this, confirm the identity of this person. Ask them questions that only your relative would know. Stop the conversation and reach out to that relative by the contact information you have for them. You could also reach out to another relative that would know the situation if it was real.

Typical Scam Elements

Learn to recognize a scam right away by remembering these scam hallmarks:

Stay Vigilant

It is unfortunate that this is the world we live in, but you must remain constantly vigilant and alert when it comes to protecting your money, your accounts, and your identity.

NorthRidge will never ask you for your login information. Do not give your online banking login information to anyone, not even someone claiming to be from your financial institution.

When in doubt, hang up, do not text back, and/or delete suspicious emails.

Chain of Hearts Fundraiser

Posted on: January 26th, 2023 by Ashley

The annual Chain of Hearts Fundraiser has officially kicked off! In 2022, NorthRidge raised over $2,600 to donate to Gillette Children’s. Help us raise over $2,000 again in 2023!

This campaign is a fundraiser for the local nonprofit hospitals of the Gillette Children’s Hospitals. Credit union members, community residents, and area businesses help us raise money by purchasing hearts and links that we proudly display in our NorthRidge lobbies. Every dollar raised supports our local kids! Thank you to all who donate and make our annual fundraisers a success.

Even just one dollar can make a difference at Gillette Children’s Specialty Healthcare!

About Credit Unions for Kids: Credit Unions for Kids is a nonprofit collaboration of credit unions, chapters, leagues/associations and business partners from across the country, engaged in fundraising activities to benefit 170 Children’s Miracle Network Hospitals. Adopted as our movement’s charity of choice, credit unions are the 5th largest sponsor of CMN Hospitals. Since 1996, CU4Kids has raised over $165 million for Children’s Miracle Network Hospitals.

About Gillette Children’s Specialty Healthcare: Gillette Children’s Specialty Healthcare is recognized as a world leader in providing healthcare for children with disabilities. Primary care clinics and hospitals from the Midwest, around the country and the world refer patients to Gillette.

TO DONATE: Stop by one of our branches, ITMs, or call us at 877-672-2848.

Living Paycheck to Paycheck

Posted on: August 5th, 2022 by Ashley

Saving Money

We’ve already posted several times on social media and our blog about saving money. You’ve heard the message. You probably hear it regularly everywhere else too, “Pay yourself first”, “Keep a rainy-day fund”, “Build your emergency savings”. You already know what you’re supposed to do, but why is it so hard to do it?

Maybe you’re living paycheck to paycheck and can’t imagine saving even $5.00 a week. Or, maybe you have money left over after your bills are paid, but you spend it on other things that you enjoy (i.e. eating out, going to the movies, buying more luxury-type items, etc.). It could be that you aren’t sure where or how to save or invest. It could also be that you don’t trust financial institutions. All of these are valid reasons that you might not have a savings account.

But guess what? Everyone can save money. Everyone. Yup, even if you live paycheck to paycheck. Even if you do not plan on giving up the lifestyle you’ve earned. And, if you don’t trust financial institutions, just come in and visit with us. Leave your money at home and just come for a conversation. Tell us your story. Whether or not you decide to open an account is entirely up to you. Unsure on how to start? Again, just come in and have a conversation with us. We are in the ring fighting for your financial future, no matter what your present situation looks like.

Tips on Saving When You Live Paycheck to Paycheck

It can feel overwhelming and impossible to save anything when you live in a cycle of paycheck to paycheck. The frustration, stress, and fear behind your situation is justified (and normal). Not only are you NOT alone in that battle, you don’t have to fight it alone. Come in to NorthRidge and chat with us about how we can help make your situation better. Our members tell us they feel like they have more money after working with us on a creating a budget or a spending plan.

  1. Start small. Review your spending in areas where you might be able to make small cuts: groceries, clothing, eating out, streaming accounts, unused gym memberships, etc… Find $5.00 per week. That’s it. $5.00 per week will grow over time. Set a goal to build it up to $100.00. Once you get there, set another goal. Celebrate your wins.
  2. Don’t pay for cash. Don’t use ATMs that charge you to withdraw (and then get a fee from your bank on top of it!). Go for cash-back when you use your debit card to pay at gas stations or grocery stores.
  3. Think about your income. Can you ask for a raise at work? Can you work overtime? Are you able to add to your income with a second job or by selling items you no longer use or need? If you’re on a fixed income, can you utilize community food shelves to help offset grocery costs? Think about community-based services, like AEOA, that can help you.
  4. Seek more affordable housing. Is your rent or mortgage too much for you? You might consider downsizing. Due to economic changes, this may not be possible at this time, but it’s a thought worth exploring just in case.
  5. Restructure or consolidate your debt. Are your payments to credit cards and other loans too high? Come talk to us about consolidating. We have helped members that have saved hundreds of dollars per month on debt payments after consolidating.

You can save. We can help. Call us to set up a free financial counseling session or just to chat about your current situation: 877-672-2848.

Surviving the Pumps and Inflation

Posted on: July 11th, 2022 by Ashley

Gas stations charging more than you pumped?

A run down on authorization holds.

“Why is there $100 charge on my card for only $30 in gas?!”

Gas stations charging more than you pumped? Did the gas station just charge you over $100 for your $30 gas purchase? If you paid at the pump, that’s normal! Stay with us. That is called an authorization hold. Most gas stations place authorization holds on your card because the final purchase amount is not known at the time you swipe your card. When you pay at the pump, you are swiping your card before pumping your gas. The transaction happens before your total is known. A gas station places a “hold” on funds on your card to ensure sufficient funds are in your account to cover a transaction. The authorization hold is for a higher dollar amount than your purchase. This is done by the merchant, to protect the merchant. This authorization hold amount has been increasing along with the rising gas prices.

“Why won’t my bank or credit union reverse the hold/refund my money?”

The hold is placed on your card by the merchant (the gas station) and your financial institution does not have control over that. The hold will remain on your card until the transaction clears, which can take up to 72 hours (sometimes even longer, depending on the merchant). Your credit union or bank can’t take action on these pending holds.

“What can I do to avoid these (temporary) extra charges?”

Pay inside! When you pay inside, the merchant already knows your total in gas. They do not need to place a hold on your card. Some gas stations require you pre-pay, you can still pay inside and ask for a certain dollar amount to be placed on your pump. Figure out how much to pre-pay by taking your tank’s capacity size in gallons and multiplying by the current price per gallon. The pump stops when your payment is depleted or your tank is full. If you overpaid, you must go back inside after pumping to get your change.

Penalties for Not Paying
Minnesota has penalties for driving off without paying for your gas. These fines add up to much more than your price of gas!

Surviving Inflation

Inflation is at a high right now, and many people are struggling to keep up. The rising prices in gas, groceries, housing, and just about everything else can feel suffocating. First, breathe. Breathe. Now is the time to reassess your spending habits, create a budget, shop sales and bargains, and strategize your savings.

Your Budget

Download our budget sheet here. If you’ve never created a budget before, we can help you! Here’s a quick how-to budget guide, or you can give us a call and talk with someone on the NorthRidge team that can help! Create your budget now to get ahead of inflation!

Shop Sales and Bargains

While it can be habitual to grab the name brand items you’ve always purchased, it’s often more cost-effective to buy the store brand. One reason name brand products are more expensive is because of the cost to advertise the brand and products to the consumer. Store brand products are not advertising themselves, and can give those cost savings to the consumer. For now, maybe grab the “Chocolate Cookies with Cream Filling” instead of Oreos and save on your groceries. Buying all or mostly store brand products can save you anywhere from 20-40% on your shopping!

Your Savings

Inflation can sometimes mean less interest on savings accounts. Being strategic with your existing savings (and starting a new savings account) is a great way to combat inflation. NorthRidge has great rates on Certificates of Deposit savings, which offer guaranteed returns. We also have great rates on savings accounts and can offer many tips to build your savings, even if you feel like you are living paycheck to paycheck. Come in and chat with us!

If you’re struggling to keep up with loan or mortgage payments, please call us. We will help you find a solution, no judgment here.

Fraud and Scams

Posted on: May 5th, 2022 by Ashley

Learn how to detect fraudulent checks and prevent scams.

Unfortunately, fraud and scams are unavoidable in today’s world (not unpreventable, though). There are varying types of serious fraud and varying types of scams. Sometimes it can feel like someone is always trying to scam you. Scam text messages are as common as scammers calling you, and scam emails are still prevalent. A friendly reminder is to ALWAYS verify you know the sender, and NEVER give personal information about yourself or others out via email, text, or even over the phone unless you called a verified phone number.    

If you are concerned about possible fraud on your NorthRidge account, please contact our fraud department as soon as possible: 1-833-285-1749

Preventing Scams

The best way to prevent scams is by being alert and aware. Scams that are becoming more popular involve dating apps and online dating. Scammers get victims to chat with them after “matching” on an app. They will send photos and other anecdotes to convince the victim they are who they say they are. Then they eventually convince the victim to send them money. Sometimes this happens repeatedly with the same scammer and victim, and the victim sends money regularly, sometimes over several months, before finding out they’ve been scammed. Be alert, be vigilant, and never send money or personal information to anyone you’ve never met in person.

Online Dating Scams. Has an online love interest asked you for money? That's a scam. Scammers know millions of people use online dating sites. They are there too, hiding behind fake profiles. Signs of a Scam. Professes love quickly. Claims to be overseas for business or military service. Asks for money and lures you off the dating site. Claims to need money for emergencies, hospital bills, or travel. Plans to visit but can't because of an emergency. Costless Scam. $201 million lost reported to the FTC in 2019. Reported money losses increased 6 times since 2015. What to do. Slow down and talk to someone you trust. Don't let a scammer rush you. Never transfer money from your bank account, buy gift cards, or wire money to an online love interest. You won't get it back. Contact your bank right away if you think you've sent money to a scammer. Report your experience to: The online dating site, Federal Trade Commission at ftc.gov/complaint, and the Federal Bureau of Investigation at ic3.gov. ABA Foundation. Learn more at ftc.gov/imposters and aba.com/engagement.

Scam text messages are becoming more popular, and sometimes they are very convincing. If you receive a text from a phone number that you do not recognize, claiming to be someone you know, contact that person via the contact information you already have for them. Do not reply to the unknown number.

Email scams are also getting more convincing. Do not click links in emails you were not expecting, and do not reply. Confirm the legitimacy by doing your own quick web search on the supposed sender. Also, think about where you may have recently left your email address (maybe on a new website you found and wanted to get a discount code, etc.).

Detecting Fraudulent Checks

Fraudulent checks are one of the most common frauds committed. They are so widespread with so many different types that it’s impossible to determine just how many people are affected. Protect yourself by learning how to detect fraudulent checks. Follow these steps to detect some of the most common signs of fraudulent checks:

  1. Research the financial institution on the check. Do a quick web search to find out if the issuing bank or credit union exists. This may seem silly, but there are many, many scammers that send checks from a financial institution that sounds like it is legitimate.
  2. Contact the issuing financial institution. During your web search, if you find the bank or credit union does exist, contact them by a number you find on their actual website (not with contact information you may find on the check). When you are speaking with someone at that financial institution, inform them that you want to confirm the check was issued by them and give them as much information as you can about the check.
  3. Study the check. Many fraudulent checks are done so well that it can be very difficult to tell that it is fake. A closer look can expose flaws, though. Watermarks are typically of poor quality on fake checks. Examine the edges of a check, if there are no perforations on any of the sides, it likely came from a printer. Also look for any missing information like a logo from the bank or credit union, a check number, or the financial institution’s contact information. If any of that pertinent information is not present, the check is likely to be fraudulent.

By being suspicious of things that just “feel” a little off, you can protect yourself from falling victim to frauds and scams. You cannot be over-cautious when it comes to YOUR money and YOUR financial wellness!

fake check scams
Read About Cyber Security

Youth Month

Posted on: April 6th, 2022 by Ashley

Teaching Kids About Finances

April is National Credit Union Youth Month! Not only do we plan on celebrating our area youth this month with some fun activities, but we also want to focus on teaching kids about finances. That’s where you as parents, guardians or other influential adults, come in to help! To be financially literate is to have the skills and knowledge to make efficient decisions regarding money management.  

Youth Financial Literacy Month

Why is financial literacy important for our kids?

We’ve heard it before, “Kids don’t need to know about money.” Don’t they, though? If they aren’t taught about money and budgeting and credit, how will they effectively manage their finances as adults?

Financially illiterate adolescents turn into unprepared adults. Primary financial education creates adults that can make great financial decisions about savings, debt, and large purchases (like cars and houses).

Teenagers are often compelled to choose a college to attend before they graduate high school. Statistically, most of them don’t actually know how to shop around for the best tuition prices. They often aren’t sure how to set a budget to live on their own for the first time. They aren’t aware of how to properly use a credit card to build their credit without building debt.

Financial literacy isn’t yet a part of STEM curriculum in most public schools. It is up to us as influential adults to help our kids learn about money.

How to Teach Children 5 and Under About Money

  1. Save money in clear jars instead of piggy banks. This allows them the visual of seeing their money growing. Talk about it growing with them, “Look, last week you had 4 quarters and 1 one-dollar bill, this week you have 6 quarters and 2 one-dollar bills!”
  2. Let them buy things with money. Allow them to take a dollar or two out of their jar when you go shopping. Allow them to buy something, let them pick it out and pay for it at the register. Help them understand the price versus the amount of money they have.
  3. Open a savings account for them and have them go to the credit union with you to deposit their savings so they witness the interaction. Carefully explain what’s happening while the teller takes the money. 

How to Teach Elementary-Aged Children About Money

  1. Start teaching about opportunity costs by saying, “If you buy that T-shirt instead of the tank top, you won’t have enough money left to buy a candy bar.” Allow them to weigh-in on their decisions.
  2. Instead of just giving out an allowance for nothing, give them a list of chores with dollar amounts attached to each chore they complete. $1.00 per day for doing dishes, another $1.00 per day for vacuuming the living room, $10.00 to mow the lawn, etc. This will help your children understand that money is earned.
  3. Teach them about impulse buying. If they see something at the store they MUST have at that moment, tell them they can use their earned allowance for that; but if it’s over $15.00, tell them that if they still want it the next day that you can go back to the store for it.
  4. Continue bringing them to your credit union so they can check the balance on their savings account. Have them give the teller their money to add to their savings. Have them save their receipts so they can track their account growing over time.

How to Teach Teens About Money

  1. Teach them about not comparing what they have to what others have. If they complain about how their car is older than everyone else’s at school, let them know that their car still gets them from home to school and work, and that’s all cars are for anyways. Or if they want to buy name-brand clothing, let them know they can do that or they can save that money for a summer concert and be creative with their current wardrobe.
  2. Give them ownership of their accounts at the credit union. Open a checking account for them and give them a debit card. Help them track and balance their account weekly.  
  3. Teach them about credit cards before they turn 18 and get all those offers in the mail. Credit cards are not bad, but they need to be used properly to grow credit.
  4. Help them find their first job to make their own money. When they get a job, show them how to set up direct deposit into their account, or how to do a mobile check deposit.


Financially literate adults in the future start with us now! Give your kids the gift of financial freedom. It’s time to start teaching kids about finances!

Financial Freedom

Posted on: March 1st, 2022 by Ashley

The Ultimate Secret to Financial Freedom

Okay, that is a big headline. And this is a hard topic for some. But there really is just one secret to financial freedom to learn. And no, it is not how to write the perfect budget or consolidate all your debt with the perfect debt consolidation loan. Those things can be extremely helpful, but they aren’t your big tickets to freedom.

What does financial freedom even mean?

It is not the ability and freedom to spend however much you want, whenever you want, on whatever you want… that would be called obscenely rich and that’s not what this ultimate secret is going to do for you.  Financial independence is having enough income, savings, and assets to cover your living expenses, inflation, and the occasional dinner and a movie for enjoyment. Financial freedom is in addition to financial independence, and it is about having enough savings to cover your car’s engine blowing, or splurge on a fancy vacation once every couple of years. Financial freedom is the freedom to live your life without worrying about money. Financial freedom gives you the ability to live a life that is full of meaning, fulfillment, and purpose.

Being stuck in financial imprisonment might look like:

43% of Americans carry over credit card balances every month, and Americans that carry debt, spend 33% of their monthly income to pay it off. That is what financial imprisonment looks like.

It’s time to break free.

The Ultimate Secret

Image text "Change your mindset and you can break free from financial imprisonment."

The ultimate secret to financial freedom is that you need to change your mindset regarding money. The way you feel and think about money has the biggest impact on how you spend it. More than a budget. More than a financial counselor. More than anything. Preparing a budget is a great tool that will tell you what you can afford to spend. Budgets are important in this way. But a mindset of saving and being financially free asks you what you should spend.

Remove the emotional feelings from money and it becomes just a tool. Just like any other tool you would use to build something you want. Say you’re building a house. You have tools (hammers, nails, and wood) that you need. You wouldn’t destroy your hammer putting down the floor, because then you wouldn’t have it to build the walls later. You wouldn’t use all your wood and nails on the walls because then you wouldn’t have a roof later. Money is the hammer, wood, and nails for your financial freedom. Just a tool, and you must use it wisely.

The ultimate secret is that you need to stop thinking about how much your friends spend on their designer handbags or golf clubs. Stop thinking about what your neighbor has and stop thinking about what the other parents at your kids’ school drive.

The ultimate secret is that most people do not care what you drive, what you’re wearing, or what brand your 9 iron is. They are not going to look down on you. And if they do look down on you for those trivial things, they were going to find a reason to look down on you no matter what.

There is nothing wrong with driving a really nice vehicle or carrying the best handbag, but you need to think about what you’re losing in your future to have those things.

The Ultimate Mindset

The mindset that you need to have requires patience. It is about saving. It is viewing money as a tool, and not as something to use on every want. It is a mindset that tells you, “I’m not spending $5 on a cup of coffee when I have coffee at home or at the office.” Do you need that coffee, or do you want it? (Hint: We’re pretty sure no one has ever died from NOT drinking a Caribou or Starbucks coffee, no matter how much we all love it.)

Be honest with yourself when it comes to wants and needs. Do you need a brand-new Chevy Camaro, or will a used Honda Civic get you there? That’s an extreme example, but the point is the same. Do you need a brand new snow blower, or will a used one from your local shop move your snow? Would you rather have that brand new, elite Driver for golf season now, or pay off a debt later and be more financially independent?

The mindset is in postponing your wants, refusing to pay top dollar for things that you can get for less, and not borrowing for things that you really don’t need.

Your homework is to really consider your wants and needs. Be honest with yourself. What do you currently own that was purchased because of a want and not because of a need? What do you currently own that you could potentially sell and replace with a less expensive version?

Change your mindset and you can break free from financial imprisonment.

American Heart Month

Posted on: February 2nd, 2022 by Ashley

Financial Stress and Your Heart

February is American Heart Month. We talk a lot about how your mental, physical, and financial health all play a role in your overall wellbeing. Poor financial health can cause stress and affect your mental health. And, as we all know, stress can seriously affect your physical health (especially your heart!).

We hear it all the time, heart disease is the leading cause of death in America. This is due to many different factors, but stress plays a significant role in that statistic. According to the University of Rochester Medical Center, “long-term stress can increase blood cholesterol, triglycerides, blood sugar, and blood pressure.” All the above are commonly known risk factors for heart disease. Stress can also make people react in unhealthy ways, such as smoking, drinking in excess, not getting enough sleep, and eating unhealthy foods.

The leading cause of stress in America? Finances. The American Psychology Association’s Stress in America survey showed that 72% of Americans feel stressed about money. It’s unsurprising, due to the recent inflation, the pandemic, the housing market, and so many other factors. But how do we combat financial stress?

Tips to Feel Less Stressed About Finances

  1. Set and keep a budget. The more control you feel over your finances, the less stressed you will be, regardless of your income. Knowledge is power, so get to know everything you have coming in and going out!
  2. Understand your debt. Take control by consolidating debt, selling things you don’t need or use to pay off smaller debts, and try to avoid using your credit card for regular spending (that is, if you’re not in the habit of paying it off right away – using your credit card regularly and paying it off regularly is a great way to build your credit).
  3. Make a plan and set an achievable timeline to pay off your debt. Again, feeling in control eases stress.
  4. Make sure you understand how your credit score works. Check out this blog post to learn more about credit scores!
  5. Call NorthRidge Community Credit Union to get help with any or all of the above if you’re not sure where to start! 877-672-2848
  6. Don’t neglect general stress management. Eat healthy most of the time, exercise for 30 minutes a day (even a nice walk over your lunch break counts), drink more water, and strive for 7 to 9 hours of sleep every night.  

This month, pledge to take care of your heart, pick 2 or 3 of the above things that you can do right now to get started on your path to de-stress!

New Year, New (Financial) Goals

Posted on: January 3rd, 2022 by Ashley No Comments

First and foremost, Happy New Year to our members and communities! Thank you for your amazing support in 2021. NorthRidge continues to grow and prosper. We are so excited for what’s coming in 2022 that helps us to serve you even better. Mobile wallets have been activated on your NorthRidge cards, our new building in Hibbing is opening this summer, and many more things are coming later this year!

A new year brings new opportunities and new goals. Have you spent some time thinking about financial goalsetting? If not, let’s do it now. It can be difficult to set goals if you aren’t sure where to start. Let’s talk about two things that can make a huge difference in your money goalsetting: compound interest and debt consolidation.

Compound Interest

Compound interest is a topic that can be confusing, so let’s do a quick refresher. The simplest definition is that compound interest is interest that is earned on interest. For easy math and demonstration, say you have $100 that earns 5% interest per year. At the end of the first year, you’ll have $105. At the end of the second year, you’ll have $110.25 – This is because you earned interest on the $100, but you also earned $0.25 on the $5 of earned interest from the previous year. While $0.25 seems small, it adds up fast. And remember, this is earned without even having to add any additional money to your initial investment. Imagine how fast it builds when you’re adding money every month. 

Graphic of compounding interest

A simple equation to determine approximately when your initial investment will double in value (without adding any more to it) is the Rule of 72. The Rule of 72 is 72 divided by your interest rate. Using the numbers from the above example, 72 divided by 5 is 14.4. That means every 14(ish) years, your investment would double in value without ever adding anymore money. Imagine if you saved $50 per month, $600 per year, at 5% interest. After 10 years, you’d have over $7,600 from saving $50 per month ($1,600 more than if you were not earning any interest). Use this calculator from Investor.gov to help you set some savings goals!

Debt Consolidation

Debt consolidation is exactly what it sounds like: consolidating your debt (from credit cards, higher interest loans, etc.) into just one payment. We talked about compound interest… debt also has compounding interest, but it works the exact opposite by creating more debt. Most credit card companies compound interest daily, so at the end of the month you’ve got a pile of interest to pay in addition to your principal.

Debt consolidation

By consolidating your high interest debt with a lower interest loan, you will save money on interest and pay down your debt faster. Here’s a situation when debt consolidation would make sense: Let’s say you have 3 credit cards with various interest rates that range from 18.99% to 24.99%. You always make your payments on time, but you’re only able to afford the minimum payment on all 3 cards (and it takes a looong time to payoff credit cards when only making the minimum payment). With a debt consolidation loan, your interest rate could be cut in half or better, and your monthly payment would likely be less than the combined 3 payments you make on your credit cards. This saves you money every month and gives you a sooner payoff date. Now… take that money you save every month and throw it into an savings or investment account with compounding interest, and you’re making some great money moves!

NorthRidge has many options for debt consolidation loans, we have helped many of our members save money and get out of debt faster. Give us a call to find out how we can help you!

Smart Money Moves for November!

Posted on: November 3rd, 2021 by Ashley

piggy bank

 

 

While you work on recovering from your Halloween candy coma, let’s chat about some end of year finances! This time of the year can fly by, and it’s easy to get caught up in a spending tornado when it comes to buying gifts and traveling for the holidays. Here’s a few tips to help keep your budget in check during “the most wonderful time of the year!”

 

  1. Get a solid game plan for holiday shopping. This year is likely going to be a little wonky with the recent supply issues, so make sure to plan ahead and start early enough to ensure any online orders arrive on time (shipping times have slowed down, too!). To make sure you’re not over-spending, be picky with your purchases. Even with Black Friday and Cyber Monday deals, do your research in advance so you know which deals are real, and which deals are just the regular price made to look like a deal. Also, avoid just browsing when you shop. Write down what you need before shopping to prevent making unnecessary impulse purchases.

 

  1. Consider the rising prices of gas when you plan your traveling. If you’re driving, use an app like “GasBuddy” to help track the prices of gas in the towns and cities you’ll be traveling through. The national average price per gallon of gas is approximately $3.36 right now (it was around $2.16 this time last year). If the higher costs put you over your budget, consider spending less on gifts this year, or having virtual visits with family instead!

 

  1. Check on open enrollment for employee benefits and healthcare benefits. November is typically open enrollment season for benefits that may be offered by your employer. Open enrollment on Healthcare.gov or any state-run health marketplace runs from November 1 to January 15, 2022. If you currently have a plan and take no actions, you will be re-enrolled for the same plan and coverage. But you may be able to save some money by reviewing what you did or didn’t use in the last 12 months and revising your plan based on your review!

 

  1. Get a seasonal part-time job to help recoup some cash! The job market is hurting for workers right now, and they need even more employees to prepare for holiday consumerism. There are so many options for seasonal jobs from UPS to local retailers, to restaurant bartending and serving. If you have a couple nights a week or weekends to spare, it might be worth it!

 

  1. Consider a NorthRidge Holiday Loan! Now through December 15, you can borrow up to $1,200.00 at 15% APR* for 12 months. No credit check is required for current NorthRidge members** and you can typically plan on getting your cash within a few business days of applying! The cash is yours to use on anything you’d like – holiday gift shopping, traveling, bills, whatever you need. Just bring in your last 30 days’ of paystubs! You can fill out an application here. (Please allow up to 48 to 72 hours to hear from a loan office. They are working as fast as the can to reach out in a timely manner, but we have experienced a high volume of loan applications.)

 

 

Give Thanks

We are thankful.

Finally, as we move closer to the end of the year, November gives us the opportunity to be thankful. NorthRidge has many things to be thankful for this year: our members, our team members, and the successful purchase of the property at 4125 9th Avenue West in Hibbing for our new Hibbing building. Our credit union continues to grow with our communities, and we are so excited to provide even better service and support for our communities!

But, mostly, we want to thank YOU. Our members. Thank you for your continued support and trust in us as your financial institution!

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