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Shopping Smart On Black Friday

Are Black Friday deals really worth the budgeting? The holiday is famous for steep discounts limited to a single day, but not all the sales you’re bound to see are truly worth the rush. With tips from The Real Deal, we’re providing a guide to what you should snag this Black Friday for the best savings and what you’re better off buying at other times in the year.

What To Buy On Black Friday

1. Small Kitchen Appliances

Best time to buy: Black Friday and Cyber Monday

From the seasoned chef to the humble home cook, holiday sales are a great opportunity to expand the wares in your kitchen. Appliances like air fryers, blenders, and coffee makers tend to be steeply discounted on Black Friday. Look to big brands like Walmart, Kohls, Macy’s and Bed, Bath & Beyond who often offer up to 50% off on these items. Rather than wait until later in the year to upgrade your cooking gear, Black Friday deals on kitchen appliances may save you money in the long run.

2. Smart Home Gadgets

Best time to buy: Black Friday, Cyber Monday, and Prime Day (July)

Looking to upgrade your home security? Black Friday is prime time for deals on smart home devices like smart speakers, thermostats, and security cameras. This is a great time to set up a smarter, safer home while still saving big. Check Amazon and Google for the best price drops. If you miss these sales, watch for similar discounts on Amazon Prime Day later in the summer.

3. Video Games & Consoles

Best time to buy: Black Friday and Cyber Monday

While popular gaming systems like the PlayStation, Xbox, and Nintendo Switch tend to stay the same price on Black Friday and Cyber Monday, stores like Walmart, Target, Best Buy and GameStop often offer discounted bundles that include games and freebies. Video games themselves frequently see the biggest discounts during this time of year and are the perfect gift for your resident gamer.

4. Laptops & Tablets

Best time to buy: Black Friday, Cyber Monday, and Back-to-School Season (August)

Black Friday offers some of the year’s best prices on laptops, tablets, and other tech gadgets. Great deals can be found at Best Buy on quality computers without paying full price, as well as on Apple and Dell’s home websites. If a tablet is more your speed, Target, Amazon and Best Buy are the best places for deals on Samsung, Apple and Amazon models. However, you can also find great deals during the back-to-school season, especially for students and teachers looking to upgrade before the new school year.

5. Wireless Earbuds and Headphones

Best time to buy: Black Friday, Cyber Monday, and Super Bowl Season (January-February)

Brands like Bose, Sony, and Apple frequently offer significant discounts on headphones and earbuds during this time. This Black Friday, visit Walmart, Target or Amazon to upgrade your audio gear without breaking the bank. If you miss the sales during the end of the year, some brands also offer great markdowns in January, particularly on models designed for sports and fitness.

6. Children’s Toys

Best time to buy: Black Friday, Cyber Monday, and After-Holidays Sales (Late December to Early January)

Toy stores and online retailers know parents are going to be holiday shopping, so look out for substantial markdowns on popular toys during this time. Black Friday deals often offer up to 30-50% off on trending toys specifically. You can also find clearance sales on toys right after the holidays. So if you’re buying gifts, it’s worth grabbing them now, but for general purchases, it’s best to wait until January.

7. Smartwatches & Fitness Trackers

Best time to buy:  Black Friday, Cyber Monday, and New Year’s Sales (January)

Fitness trackers and smartwatches get heavily discounted on Black Friday, so expect to see markdowns on brands like Apple, Garmin, and Fitbit. But if you miss these, watch for New Year’s promotions in January, as brands cater to those starting fresh health goals at the beginning of the new year.

8. Home Goods (Sheets, Blankets, and Towels)

Best time to buy: Black Friday, Cyber Monday, and White Sales (January)

If you’re looking for linens and home essentials like towels and bedding, expect to see excellent discounts on Black Friday. You can often find quality sets at half price or less as well. White Sales in January also offer similar deals, so you can wait if you’re not in a hurry.

9. Major Appliance Bundles

Best time to buy: Black Friday, Presidents’ Day (February), and Memorial Day (May)

Many retailers offer bundles or package deals during Black Friday, especially for kitchen and household items. Bundling these items can result in significant overall savings, especially if you’re looking to replace multiple items at once. If you’re looking to bundle appliances, Black Friday has some of the best deals. However, Presidents’ Day and Memorial Day also offer significant discounts if you miss out.

10. Gift cards

Best time to buy: Black Friday and Holiday Season (December)

Keep an eye out for brands that offer gift cards at a discount or as bonuses with purchases on Black Friday. This is a great time to snag extras for holiday gifts or future savings alongside your seasonal purchases!

What to Skip on Black Friday

1. Clothing

Best time to buy: Cyber Weekend and Winter Sales (January)

You’ll often find quite the deal on clothes during Black Friday, but they typically only apply to specific articles of clothing rather than a large array. Hold off until Cyber Weekend to take advantage of promo codes for up to 60% off of your whole cart, and the end of January for winter clothes as stores start to clear out for spring designs.

2. Furniture

Best time to buy: Presidents Day Sales

If new furniture is on your holiday wish list, skip the sales ads during Black Friday and wait until Presidents Day when most furniture and retail stores offer their largest discounts of the year.

3. Flat Screen TVs

Best time to buy: Super Bowl Season (Late January to Early February) 

Black Friday has a reputation for “doorbuster” TV deals, but these often feature lower-quality models. If you’re after a high-end TV, wait until late January when Super Bowl deals bring similar savings on better models.

Shopping Smart All Year Long

Knowing when to buy items throughout the year is a budgeting tip that can save you more in the long run rather than impulsively overspending on Black Friday deals. Keep an eye on seasonal sales and discounts, and you’ll get the best value for your money without splurging on everything at once. Incorporating these tips will have your savings account thanking you all year long! 

Financial Horror Stories: Avoiding Common Money Mistakes

When it comes to managing money, even the most careful planners can fall victim to financial fright. From unexpected fees to budgeting slip-ups, money mishaps can haunt us if we’re not prepared. In the spirit of Halloween, we’re sharing some examples of real-life financial horror stories to help you avoid common money mistakes. Whether you’re looking to sidestep credit card troubles, avoid impulse spending sprees, or dodge loan regrets, these tales offer valuable lessons to keep your finances safe and sound. Read on—if you dare—and learn how to avoid the most bone-chilling blunders!

Paying Bills On Time

Missing a payment can haunt your finances long after the due date. Late fees add up quickly, and falling behind can hurt your credit score, which affects everything from loan approvals to interest rates. Avoid this horror story by setting up reminders for yourself or automating your payments so you can rest easy knowing your bills are paid on time. A little organization now can save you from a financial nightmare later!

Saving Money Consistently

One of the scariest mistakes people make is not putting enough focus on saving money. It may seem harmless to skip setting aside funds each month, but over time, a lack of savings can leave you vulnerable. To escape this trap, make it a habit to put away a small amount from each paycheck, even if it’s only a few dollars. By consistently saving, you’ll be better prepared for bigger goals—and avoid the fright of living paycheck to paycheck.

Building an Emergency Fund

Life is full of unexpected twists, and failing to plan for them can lead to financial chaos. Without an emergency fund, surprise expenses like car repairs or medical bills can set you back or force you to take on debt. Start building a cushion by saving three to six months’ worth of living expenses. This fund can be your safety net when life throws you a curveball, ensuring you’re prepared for the unexpected.

Having Adequate Insurance

It’s easy to overlook insurance—until you actually need it. Whether it’s health, car, or renters insurance, lacking proper coverage can turn an unfortunate incident into a financial nightmare. Insurance protects you from large, sudden expenses that could deplete your savings. Take time to review your insurance policies and make sure you’re covered; it’s better to be safe than haunted by unexpected costs.

Avoid Overspending on your Credit Card

Credit cards offer convenience, but they can also lead to monstrous levels of debt if not managed carefully. Overspending on credit can quickly snowball, thanks to high-interest rates and minimum payments. To avoid this pitfall, only use your credit card for purchases you can pay off by the due date. By managing your credit wisely, you’ll stay debt-free and dodge the financial hauntings that come with high balances.

Steering Clear of Careless Spending

Small, impulsive purchases may not seem harmful at first, but over time they can drain your finances. Careless spending on things like daily coffee runs, online shopping sprees, or takeout can add up and disrupt your financial goals. Instead, practice mindful spending by budgeting for “fun” purchases each month. This way, you can treat yourself without the tricky risk of budget-breaking regrets.

Protecting Your Private Information

Identity theft is a real-life financial horror that can lead to stolen money, ruined credit, and months of cleanup. To protect yourself, be cautious with personal information. Avoid sharing sensitive details over email, and ensure you’re using secure websites for online transactions. Regularly monitor your accounts for suspicious activity, so you can catch any issues before they become a full-blown nightmare.

Tracking Your Spending

Not tracking your spending is like wandering through a haunted house blindfolded—you never know what will jump out at you. Keeping tabs on where your money goes helps you identify areas for improvement and stay within your budget. Consider using budgeting apps or reviewing your expenses weekly. By knowing where your money is going, you’ll have the power to make smarter financial choices and avoid budgetary scares.

By learning from these financial horror stories, you can steer clear of common money mistakes and take control of your finances before things get spooky. At York Educational Federal Credit Union, we’re here to help you make wise financial choices, offering tools to build a solid financial foundation. If you’re looking to boost your credit score, our Credit Builder Loans provide a safe way to build credit without risk, while our Holiday Loans offer an easy solution to cover seasonal expenses or unexpected costs. Remember, you’re never alone in your financial journey—your credit union is here to support you every step of the way!

Summertime Savings

Saving money is a goal that most people have year round, but as the seasons change the more likely we are to spend on things like travel, entertainment and recreation. Summertime is no reason to give up on your financial goals! These five financial tips for summer can aid in your pursuit to save money and reach your budgeting goals. 

1. Set a Specific Goal

You’re more likely to reach your desired budget by being specific about how much you want to save. Saying to yourself, “I need to stop spending so much this month” is a great start, but doesn’t create a goal that seems attainable. Instead, sit down and decipher a reasonable amount of money you’d like to save up to within a certain period of time. “I would like to have $5,000 more in my savings by September” gives you an actual number and time frame for you to work towards.

2. Host Instead of Head Out

Summer is the perfect time to get together with friends and family, but frequent public gatherings can become pricey. Rather than going out during your next event, host at your home or local park to cut costs. This allows you to have more control over things like food and entertainment along with the added benefit of ending your day without a hefty bill. 

3. Schedule Later Vacations

It’s no surprise that early summer is the busiest time of year for sought after travel destinations. This means the prices for things like hotel rooms or airfare can skyrocket during June and July. Scheduling your next big trip in August could lead to cheaper rates. According to Protective Life Corporation, “Data from Tripadvisor suggests you’ll spend 23% less if you travel after the early summer rush.” 

4. Support Local Events

Going to local events is a great way to support your community while saving money on travel costs. Here in York, there are multiple events during the summer such as First Fridays held by Downtown Inc. and the York State Fair that are great for the whole family. Look up the city you live in to see if they have any summer events that catch your eye – you might be surprised at what you find! 

5. Save on Road Trip Snacking

Road trips are a great way to see new places and spend time with loved ones. They also encourage passengers to overindulge on snacks during a stop at a gas station or rest stop. The next time you hit the road, buy (or make!) the food you want before the trip rather than overspend when you stop. 

 If you or a loved one need extra help regarding structured plans to improve spending habits, increase savings and better understand your finances, look no further than YEFCU’s Financial Counseling services. Our staff is immensely knowledgeable, readily available and those with their Credit Union Financial Counselor certification can help aid those in need of assistance.

YEFCU’s New Website

Welcome to the new YEFCU website! We’re so excited that you’re here.
This feature is one of many that we’ve included with the intent to deliver a steady
stream of financial resources to you, our membership! While there have been many
changes to YEFCU’s online presence, the quality of our content will always continue to
be as reliable as it has been for the last 55 years. So sit back, take a look around and
allow us to help you navigate the most notable upgrades to our website!

1. Color Scheme and Logo

YEFCU’s logo and color scheme have been around for almost as long as
the company itself, having stood the test of time throughout our expansions over
the years. We wanted our new logo to continue to represent our core values with
a fun new twist. We settled on the blue of a chalkboard to call back to our roots
as a teacher’s credit union, alongside complimenting orange and green. The
book behind the “Y” of our name signifies how important we believe every aspect
of education is, and that it’s the first step to a successful financial journey.

2. Home and Mobile Banking Made Easy

As always, YEFCU takes pride in its efficient services to our members.
That’s why we made accessing your home and mobile banking easier with this
new upgrade. The home banking login box is located front and center on our
homepage, and the previous logon process that includes your member number,
password and security questions has not changed. The enroll option for our new
members is also easily available in the same place so they can begin to access
their accounts online with little trouble. When you aren’t on the homepage, the
login option for home banking will always be in the very top right corner in
orange.


Access to our mobile banking is also available right underneath the Home
Banking box on our home page. There you can expect to find information
regarding where to find the mobile app on Google Play and the Apple Store, as
well as what’s featured on the app.

3. Loans, Loans, and more Loans!

Reaching out to our loan department has never been easier than with our
introduction of online scheduling. Members can now pick available times
provided by our loan team to meet with them and discuss new loans, existing
loans, and how to better manage their loan payments.
You can find all of our current loan rates listed on our Rates page. When
searching for a loan that won’t break your budget, we’ve installed a loan
calculator on almost every one of our loan service pages so you can estimate
more accurately what your loan payments and interest may actually look like.

4. Educational Content

Financial literacy and knowledge has always been rooted in the foundation
of our credit union. That’s why we’ve decided to provide multiple resources for
our members to use with those educational goals in mind. We’ve revamped our
quarterly newsletter, Saving Sense, to include financial tips and current
promotions, listed multiple government run websites to aid in identity theft and
fraud protection research, created a Resources page dedicated to
higher education resources, and started this blog that’s filled with financial tips and tricks for our membership to use. We also have financial counseling available to members who would like to have one-on-one
guidance to enhance their finances.

5. FAQ section

For our members who may still have questions about how our home
banking or mobile app works, what to do about suspected fraud on their account,
or would like to reach out to a YEFCU staff member, our website’s Contact Page has an
in-depth FAQ section and contact form they can use to find answers. If you’re still
having trouble fixing a potential problem, you can always go to the search bar at
the top of our home page to look specifically for what you need. And if that still
doesn’t yield the results you’d like, give us a call during office hours and we are
more than happy to help you!

“Rooted in the spirit of helping people.”

– The YEFCU Team

This website was born from months of hard work from our staff, all with the user
experience of our membership in mind, so we hope you enjoy the change of scenery.
We appreciate all of our members for making us the financial institution they trust and
will continue to provide the services, resources and opportunities that’s kept us in
business for the past five decades. That’s what makes us rooted in the spirit of people
helping people!

How to avoid financial stress

Personal finances can take up a lot of our mental space. While keeping up with your bank accounts encourages financial responsibility, it shouldn’t become stressful or obsessive. Help Guide says, “An American Psychological Association (APA) study found that 72% of Americans feel stressed about money at least some of the time.” When we focus too heavily on our finances it can become detrimental to our mental and physical health. Learn more about the multiple ways you can engage with your funds without succumbing to financial stress. 

1. Stay Organized

Consider taking inventory of all of your monthly expenses as a way to anticipate how much money you’ll be spending. Money Mentors says, “Understand the finer details of your finances, like when you get paid, when your bills are due, your monthly budget and your savings. Find an organizational tool that works for you―whether that’s in an app, spreadsheet or journal.” This way you can account for non-negotiable expenses and when they’re due, like bills, rent, child support, etc. as well as any money put into savings and spent on leisure. Budgeting your expenses this way can reduce the chance of being blindsided by monthly costs and becoming stressed about what you can or can’t pay.

2. Have An Emergency Fund

Life can be unexpected. Because some costs can’t be anticipated, it’s easy to stress over the unknown. Avoid digging into your savings by creating an emergency fund to pull from instead. This can leave you more prepared for whatever life decides to throw at you. It’s important to start small – depositing even a few dollars each paycheck into this account will build up over time. But eventually you will have a reliable safety net when it comes to unplanned expenses.

3. Automate Your Payments

Tracking your costs not as efficient as it sounds? A great option is opting for automated payments. Citizens Bank explains, “Setting up automatic bill pay can help alleviate the stress of remembering to pay bills and avoid costly penalties for missed payments.” If you tend to be forgetful when it comes to paying bills, automated payments can help lift some of your financial burdens. This is also a great method to building your savings or emergency funds – you can also have funds automatically moved over each month to ensure your accounts are growing.

4. Reduce Debt

Debt is a huge contributor to financial stress. When creating a budget, try including a plan to slowly chip away at what you owe. Just like building up a savings account, debt won’t always go away overnight, but making any attempt at minimizing your debt will help you feel less stressed about it. If you need more professional help, financial institutions like ours have financial counseling services to aid in consolidating debt and creating a savings plan to build up your finances. 

5. Reach Out For Help

If your financial stress is all encompassing, reach out to someone you trust about your worries. This could be a friend, a loved one, or a professional. Speaking about your financial stress can help relieve any negative feelings you may have, as well as open yourself up to advice for your situation you hadn’t thought of alone. Allow yourself to speak without fear of judgement, and you may view your financial stress from a different perspective.

While there are certainly lots of economic factors outside of our control that can cause us stress, it’s important to focus on what you can control. If you don’t, you risk falling into a cycle where nothing productive gets done. According to Help Guide, “Financial problems adversely impact your mental health…The decline in your mental health makes it harder to manage money…These difficulties managing money lead to more financial problems and worsening mental health problems, and so on.” Break out of this cycle by adopting smart financial practices and getting the help you need for your financial stress.

Budgeting For Back-To-School

As summer winds down and the new school year slowly approaches, so too does the need to go back to school shopping. According to Credit.org, “The National Retail Federation tells us the average family spending for back-to-school expenses will be $696.70 this year.” For many, this number may be out of their family’s budget. So what are the best ways to save on school supplies that still set students up for success? The answer may lie in shopping with a plan, taking inventory of what you already have, comparison shopping and taking advantage of sales. 

1. Shopping with a Plan

Going back to school shopping without a plan or budget is an easy way to indulge in impulse buying you may not be able to afford. “Set a budget for back-to-school shopping before you go to stores, then figure out how much you can spend for various items on the list. “ says Consumer Reports. Making a list of the items you need and sticking to it will also help avoid unnecessary expenses while guaranteeing you get what you need for the school year. 

2. Take Inventory

If you’ve been buying school supplies for a while, there’s a good chance you already have a collection of items bought in previous years. Take inventory of what you already have before you go shopping, that way you know what you can recycle for the current year and what you absolutely need to buy new. This can also decrease the chance of buying duplicates of supplies you may already have.

3. Comparison Shop

While most shoppers flock to big department stores and make all of their purchases there, it’s important to know you have options when it comes to where to shop. According to Credit.Org, “Use web sites and newspaper ads to compare prices, and remember that a lot of stores will stock up on school supplies where they normally wouldn’t, so don’t just look at the obvious retailers.” Often times you’ll find items cheaper from places like the dollar store or bargain stores that aren’t always marketed for school supplies. 

4. Take Advantage of Sales

There’s no doubt about the prevalence of back to school sales during this time of year. Don’t feel afraid to take advantage of the discounts provided by popular brands! Feel free to use coupons as well as they can also help with saving money. As long as these sales aren’t used to justify impulse purchases, they are a great way to encourage shoppers to stick within their budget. 

Looking for more interactive resources? American Consumer Credit Counseling has a great budgeting worksheet perfect for keeping up with expenses while allowing users to personalize it to what they need. YEFCU also has a plethora of savings accounts to choose from for budgeters to use specifically for back to school funds. No matter what your situation, by adopting smart financial practices you can make the most of your back to school budget and manage your school supplies spending.

The Role of Technology in Modern Banking

It’s no secret that technology rules the modern world. It’s present in our homes, our hospitals, our transportation and even our kitchen appliances. So it should come as no surprise that technology also plays an integral role in how we do our banking. In the past 30 years alone we’ve seen almost every financial function go digital or advance in some way. While that may come as a relief to some, others remain doubtful about the need for technology in their financial practices in the first place. One thing’s for sure – without technology the financial world would look extremely different than the one we know today. For better or worse, technology is here to stay, and you may be surprised to learn what processes financial institutions rely on it to complete. 

Online & Mobile Banking

A man is sitting at a desk with an open laptop as he types away on his smartphone and dollar signs come out of the screen

The practice of interacting with your accounts online has quickly become a staple in modern banking. This is usually done through your financial institution’s official website or mobile app. Online banking is insanely convenient as it allows you to accomplish tasks at home that were previously only performed in person. Instead of walking into an office to apply for a loan or deposit a check, users can accomplish those things from the comfort of their own home. Mobile banking through your institution’s official app is even more convenient as it removes the need to be at home with a computer. The only thing you need for mobile banking? A smartphone. This allows users to bank from virtually anywhere as long as they have a phone, making their funds and the ability to interact with them always available to them. Without the internet, almost all a person’s banking would still need to be done in person. 

ACH

ACH (also known as Automatic Clearing House) allows for credit unions and banks to process electronic money transfers. This technology is responsible for processing things like direct deposit, bill pay, and even smaller electronic transactions like shopping online. Before the development of ACH, employees received physical checks on payday and had to take it to their bank to deposit it. Nowadays direct deposit sends money directly to an account digitally. Much like using online banking, this process cuts out the need for going in person to a credit union or bank. It’s the same for bill pay. Users rely on ACH to automatically pull the funds they need to successfully pay their bills from their accounts. If you’ve ever paid a bill online, you know just how much this feature comes in handy!

Credit & Debit Cards

Once upon a time there was a world without either debit or credit cards, so they both are pieces of technology within themselves. But did you know they didn’t always work the way that they do today? Magnetic strips on debit and credit cards didn’t come around until the early 1970’s, and it wasn’t until 2012 that they introduced the idea of the chip feature. In more recent years the tap feature has become the new norm, ceasing the need to insert your card anywhere and replacing it with a simple tap to purchase items. These cards play integral roles in modern day banking as they are the most commonly used forms of payment. Without them, cash would still be in the spotlight, and the convenience of an ATM (or making late night online purchases) would be obsolete. 

Artificial Intelligence

A common topic in technology is that of Artificial Intelligence and the benefits it may or may not bring to the table. What most people don’t know is that AI is already a fairly common part of our world, especially banking. If you’ve ever called your credit union or bank and gotten an automatic message, then congratulations! You’ve interacted with AI. Many financial institutions also have what’s called a virtual assistant feature on their website, allowing users to chat with AI to answer commonly asked questions. While Artificial Intelligence gets a bad rep, there are many ways companies use them to garner better user experiences for their members and make their transactions more efficient. 

Looking Towards the Future

Technology is ever adapting – what we see in banking today may be out of use in the next few years. Even now we’re seeing advancements in electronic payments through apps like Cashapp, Zelle, and Apple Pay. The need for physical debit cards has started to dwindle with digital wallets through Apple or Google becoming more common. Cryptocurrency like Bitcoin has become a notable addition to the financial world as it continues to go more and more digital. There’s a lot to look forward to when it comes to the technology used in modern banking. But just as it’s important to make these advancements, it’s equally important to appreciate the practices that have stood the test of time. At the end of the day, everyone has the right to choose exactly how they complete their finances. Thankfully technology provides us with multiple options to pick from!

The first step of your financial journey is just a click away.

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