Things I Learned by Watching Daytime Courtroom TV

I admit it…I’m addicted to afternoon Judge shows. There is something fascinating about watching ordinary people work out their differences in front of millions of people. Fortunately, all those hours of couch surfing I’ve logged while watching these tales of woe has actually helped me in my daily life. I’ve developed some financial street smarts that I’d like to pass on to you.

The biggest rule of all is – GET IT IN WRITING. Contracts are written down to protect all parties involved in a transaction. They spell out the benefits and responsibilities on both sides, so there is little chance for a misunderstanding to develop. Though oral contracts are usually binding, do you know what they call people who enter into them? LITIGANTS.

If you enter into a contract, read it BEFORE you sign it. You will be held to the terms you agreed upon, and everyone, including a judge, will assume you’ve read and understood what you signed. If you don’t agree on a term, or you don’t understand what you are signing, STOP. Get clarification before you move forward.

Get a receipt. Don’t let money pass from one until the other hand has a receipt in it! Something funny happens in a courtroom. Cash transactions made without a receipt can cause “catastrophic temporary memory loss,” which could lead to you paying double just because you can’t prove you’ve already paid.

If you lend money to someone you care about, you would be wise to treat it as a gift, unless you’re ready, willing and able to lose the relationship. That also means it is unwise to lend money you can’t afford to get back in a timely manner. You don’t want to feel uncomfortable when Cousin Larry comes to the family barbeque this summer!

Don’t co-sign for someone who can’t get credit on their own, unless you are willing to pay for the whole thing. Odds are, the person asking for your help is either a bad risk, or has not proven that they are a good risk yet. Your credit score is on the line, and you are agreeing to be fully responsible for the agreement. This mistake can cost you thousands of dollars over many years, and a bad credit score is a difficult thing to repair.

Look before you leap! Take a used car to a mechanic, have a potential home inspected, and take dated pictures of valuable things when you lend, lease, or buy them.

Pick roommates carefully. It is not enough to like a person. Keep in mind that you are entering into a business relationship with them, and both parties should be fully prepared to act accordingly.

Good fences make good neighbors—especially when you own a dog! If your dog gets out and injures someone, you could have to pay for their medical bills, and there could be bad feelings between you and your neighbors.

Accidents happen, so keep your insurance current. Schedule periodic checkups with your insurance agent to make sure you are properly covered.

If something sounds too good to be true, it probably is. Do your homework before you invest your money or respond to internet pitches.

Finally, if you must go to court, bring proof of what you are going to tell the judge with you. “Proof” includes signed contracts, receipts, pictures, police reports and witnesses.

A wise person learns from other people’s mistakes. Care enough about your financial well being by following these common sense practices, and you won’t have to learn through your own tale of woe.

How to Find a Summer Job

If your savings and checking accounts are feeling a little underfunded, don’t worry! Summer is quickly approaching, and it's a great time to find a job. If this is your plan, now is the time to begin preparing for your job search!

1. Start the process by having a conversation with your parent or guardian about your summer plans. Get their buy-in first. They may have a vacation or an educational opportunity planned that could impact the amount of time you have available to work.
2. Brainstorm about where you might work. Ask yourself where and what you would like to spend your summer doing, what skills you have or want to develop, and what opportunities are nearby.
3. Prepare to hear a lot of “No’s” before you hear the right “Yes!” Remember, it’s just a part of the process, so you should not take it personally. Be mature and polite with everyone you meet, and leave your contact information in the form of a resume or application. Even if the initial answer is no, a position may open later, and you want the manager to remember you well enough to call you!
4. Whether you are filling out an application or turning in a resume, keep in mind that neatness and accuracy count! You’ll need to list the names and addresses of schools and former employers, including the dates of when you attended, references (can be neighbors or teachers), and what days and hours you are willing to work.
5. Dress appropriately and be well groomed. A potential supervisor will be looking for someone who is eager to work and who cares about making a good impression. When you head out the door to drop off applications, does it look like you are going to the beach or are you sending a clear message that you are ready, willing and able to work?
6. Be prepared for an on-the-spot interview. Speak confidently about why you want to work for this employer, about your skills, and your eagerness to be a great employee! Now is not the time to be shy…make eye contact and show what you know! Before you leave, try to get the manager’s business card.
7. Remember to follow up in person or write a professional thank you note (that’s why you need that business card)!
8. If you are offered a job, you will need to get a work permit (these are usually obtained through the school you attend), and bring all necessary documents your new employer requests. Now is a great time to set up Automatic Deposit of your paycheck into your Green Account. It’s a quick and convenient way to cash your paycheck, and it gives you ready access to your funds. Contact LA Financial if you need help with this process!
9. Be on time, and be ready to work. That means arriving to your new job with a positive attitude, and a willingness to learn.
10. Finally, set up some financial goals when you start your job. Of course, you want to earn some spending money, but it is wise to put a portion of your earnings towards a longer term goal like senior year activities (class ring, prom, Senior Pictures), buying your first car, or college expenses. You’ll feel great at the end of the summer when you have a healthy savings account balance which proves how hard you’ve worked, and you’ll be closer to meeting your long term financial goals.

Credit Union shared branching locator app now available on iTunes

Financial Service Centers Cooperative, Inc., the nation's largest and most convenient credit union Shared Branch Network, announced the launch of the new credit union Shared Branch locator app on iTunes. The free application is available to download and offers over 6,400 locations to perform Shared Branching transactions.



This makes it even easier for you to access your LA Financial CU accounts. Whether you are trying to locate a branch or a 7-eleven location near home or school, this free app will give you a list of the most convenient locations. It is perfect for anytime you are on the go, or even while you are traveling. Wherever you are, the free app will provide you with the closest locations, their addresses, contact information, hour of operation, and even driving directions.



http://itunes.apple.com/us/app/credit-union-shared-branching/id358196777?mt=8

Teach Your Children Well...

LA Financial Credit Union was featured on a Fox News LA story about people who are dumping their banks for credit unions or small community banks. Check it out...
http://www.myfoxla.com/dpp/money/dumping-your-bank-20100304

New year, new things to talk about...

Its a new year and I think its time we had some new topics for discussion around here. There have to be financial questions you are all pondering in your money savvy heads out there, and we want to answer them. Or maybe you have an inspiring story to tell about applying for college, a cautionary tale about buying your first car, questions about how you can get a credit card... The possibilities are endless.

Ask a financial services related question or tell us about an experience (it can be about saving, debit cards, loans, credit, the list goes on and on...) either on the blog or on facebook and we'll send the first 50 people a green-accounts tote bag!

To get the tote, you will need to email your mailing address to green@lafinancial.org. We will either mail it to you or arrange for you to pick it up at one of our branches. Supplies are limited and LA Financial Credit Union will choose the 50 tote-bag recipients in the order that their questions/comments are posted.

Look out 2010!

December is just about over and its time to start thinking about my new year's resolution, that is aside from my constant resolution to start putting away my laundry... For 2009, I wanted to keep my credit card in check, using it only for emergencies and when I really needed it. While I won't start 2010 without a balance, I have a new plan. For 2010, I'm going to create (and stick to!) a budget. I've made up a spreadsheet for myself so I can track my expenses every month in regards to how much I will put into savings, how much I will need for bills/rent/utilities/gas, estimated budget for food, and miscellaneous expenses. I already have a separate savings account for the weddings I will be in/attending this year and I will probably open one for this year's big vacation too (Greece maybe?...). I've got big plans for you, 2010! With my trusty budget in hand, this will be the best year yet.

Anyone else have good intentions for the new year?

Christmas Gifts Tip 2

Buying gifts for everyone you know can be a huge expense, not to mention stressful! My second gifting tip for this season may help with the expense part. Instead of buying gifts, maybe make some gifts. It's not as hard as it sounds. You can make photo albums (scrapbooks) of things you have done throughout the year for grandparents, parents, aunts, and uncles. What they really want to see is you and you can add your own special touches to personalize it. Remember to keep it simple though, I've heard people can get a little crazy at the scrapbooking section of Michaels and all those little items add up quick. If you knit or crochet, you can make scarves, hats, mittens, or anything that fits into your skill level. Trust me, a home-made toasty scarf is always appreciated. These are just 3 suggestions, but if you have different talents and ideas, go for it! And if you make it a theme gift for a lot of people, you can buy the materials in bulk and significantly lower your cost for a very thoughtful gift.

Christmas shopping!

Thanksgiving is over and I'll bet some of you have already started decorating for Christmas. Have you started your shopping? Remember to make that list, it saves you money on last minute decisions and you can compare prices! And that is my first holiday shopping tip: Compare prices. Already I almost paid more than I needed to on a cookbook from Williams Sonoma that I'm pretty sure one of my friends will love. I had clicked it into my shopping cart and had my credit card at the ready when a voice in my ear reminded me to check Amazon first. Thank you voice, I saved $5 on this gift and I get free shipping! Together that's a savings of over $10. If I can save like that on all of my purchases, maybe I'll be able to save enough money for a little ski weekend...

Don't Scare Your Wallet this Halloween!

This Saturday is Halloween! This year I have it easy since I only have to wear a masquerade mask to a theme party. Easy costume! If you don't have your costume all picked out yet, not to worry you dont have to go shopping and spead lots of money if you are creative! Take a look in your closet to see what you have that would only need a few themed accessories to complete your look (like a pirate's patch or a witch's hat). Making your own costume with things you have around the house can be really fun and easier than you think! Google "homemade Halloween costumes" and see what comes up. Or, you can trade with your friends. It changes things up and the costume is new to you.

Happy Halloween!