Financial Fundamentals Blog

Myths Busted: 6 Misconceptions About Debt Consolidation

  • Francesca Sacco
  For consumers with existing debt that is too high for them to pay down, debt consolidation can become an attractive option for managing this debt and creating a path to becoming debt-free.   Before you start the debt consolidation process, though — or dismiss it as a poor option to address your specific debt challenges — it’s...

How Federal Interest Rate Decisions Affect Your Finances

  • Francesca Sacco
The Federal Reserve and its federal interest rate have made a lot of headlines in recent weeks and months as the agency moves forward with plans to institute multiple rate hikes in 2022.   While these interest rate decisions receive a lot of attention in the media and can even cause volatility in the stock market, many...

Expense Tracking Template: Use This To Track Your Monthly Budget

  • Francesca Sacco
  When it comes to managing your money and improving your awareness of your own spending habits, an expense tracking solution can be exactly the tool you need to take the next steps in improving your financial wellness.   Expense tracking often goes hand-in-hand with creating a personal budget because both processes are meant...

Important changes to know about the 2022 tax season

  • Francesca Sacco
The 2022 tax season is underway, and although this year’s deadline – April 18 – is still a while off, you don’t want to delay. If you haven’t yet filed, there are a few topics you’ll want to familiarize yourself.

Common College Expenses to Budget for

  • Francesca Sacco
If you or a loved one is getting ready to head off to college in the near future, it’s the perfect time to start thinking about related expenses. While tuition is to be expected, there are quite a few other common expenses related to attending college that often go overlooked. Making an effort to plan ahead will put you in a...

Here's How Much a Low Credit Score Can Cost You

  • Francesca Sacco
  Your credit score is often cited as one of your most important financial assets. But while financial experts love to discuss the risk of a low credit score, many consumers aren’t aware of the material costs that come with negative marks on their credit report.   The costs of a low credit score can span many aspects of your...

4 Common Retirement Investments and the Differences Between Them

  • Francesca Sacco
  You’ve heard many times about the importance of saving for retirement. But when it comes to actually taking steps toward retirement planning, you’ll need to find a place to put your money and let it grow over time.   In other words, retirement saving should actually be investing — not just putting away money, but taking those...

What Are My Options for Paying Off Student Debt?

  • Francesca Sacco
  If you’re one of the more than 43 million U.S. adults with federal student loan debt, you’re probably eager to get those loans paid off and take a giant leap closer to financial freedom.   But for many buyers, the process of paying down those loans takes years and years. As your life changes over time, your ability — or...

7 17 Credit Union scholarship applications due by March 1, 2022

  • Francesca Sacco
As a community-minded financial institution, 7 17 Credit Union provides services and products that make a difference for our members and the communities we serve. Our products and services cover a broad range of needs, including checking, loans and scholarships to offset the cost of higher education or trade school. We’ve been...

Financial Action Plan for Lowering Your Credit Card Payments

  • Francesca Sacco
Faced with high credit card balances, costly interest charges and ever-increasing minimum payments? You’re not alone. According to one survey conducted in September 2021, 54% of Americans reported carrying a balance on their credit card — and if you’re not careful with this financial tool, it can quickly become a costly...

Important credit card safety tips to protect your personal information

  • Francesca Sacco
It’s important to be proactive and keep your credit card information safe year-round to avoid identity theft.  While safeguarding your credit cards often comes down to common sense, fraudsters are always on the hunt for passwords and PINs. If fraudsters are successful in gaining your personal information, it can prove to be...

The Advantages of Keeping a High Credit Score

  • Francesca Sacco
  Financial experts all talk about the importance of building and maintaining good credit. But what exactly does this mean — and why should consumers care?   If you haven’t pulled a credit report or applied for credit recently, your credit score might not be at the top of your mind. But your credit score plays a crucial role in...