517 Magazine April 2022 Issue

517 B U S I N E S S

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FINANCIAL LITERACY AS A GUIDING PRINCIPLE On the record with Jim Owens, financial adviser for Lansing Community College

Bringing support to those in need

A TIME OF TRANSITIONS REHMANN ADVISERS HELP GUIDE SUCCESSION PLANNING

PLUS

MONEY MASTERS We asked local experts for financial advice April 2022

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publisher’s note

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Common Cents of Financial Literacy

t’s not an easy time to be young.

Aside from being the scapegoat for just about any societal issue and ill from the usual get-off-my-damn-lawn cranks, today’s youth face a steep and imposing climb ahead of them. From concerns over climate change, to rates of inflation that have far outpaced wage increases, to skyrocketing rental and home prices, to crushing amounts of student debt, they are heirs to a pretty big mess that they had no hand in creating.

Even a small and simple pleasure as avocado toast has become a battle cry for the finger-pointers. If kids would just stop eating that darn avocado toast and buying those fancy coffee drinks, all their financial woes would disappear overnight!

It’s an argument that is as shortsighted and simplistic as it is cynical. Instead of going donnybrook on whatever the latest food fad happens to be, perhaps a more productive approach may be to focus on what can be done to help youth prepare for what to expect and what’s in store.

It’s no secret that there has been a declining slide in financial literacy and financial education across this nation. Contrary to what might be a knee-jerk response, it’s also an issue that spans the age spectrum and affects older generations as much as our youth.

In recent years there has been a push to reemphasize financial literacy at an early age — providing the basic building blocks for people to have a larger sense of confidence and control over their money matters as they grow. Understanding how to leverage knowledge and resources to make educated decisions on financial matters is a life skill that can help avoid debt as well as budget and allocate accordingly. It is a tool that can be applied to both ensure comfort and security as well as prepare for uncertainty.

We’re talking to a number of regional experts from the financial world in this issue of 517 Magazine to get their take on how financial literacy can help people gain more authority of their personal economics.

Financial literacy isn’t some sort of miracle elixir. It’s not going to magically erase or resolve the issues many are facing today. However, it will provide a deeper understanding of how we can equip ourselves with the knowledge and skills to plan and prepare for the future.

And we can all still enjoy an occasional piece of avocado toast free of guilt.

Tiffany Dowling Publisher

517 Business and Life, Volume 3, Issue 3, April 2022.

Publisher Tiffany Dowling tiffany@m3group.biz

517 Business and Life (USPS#020-807) is published monthly by M3 Group at 221 W. Saginaw St., Lansing, MI 48933. Periodicals postage paid at Lansing, Michigan.

Managing Editor Mary Gajda mary@m3group.biz

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Creative Visionary Chad Hussle chad@m3group.biz Lead Editor Christopher Nagy Contributors Rich Adams Teece Aronin Shelley Davis Boyd Jill Davy Kyle Dowling Mary Gajda Christine MacIntyre Metro Melik Christopher Nagy Omar Sofradzija Graphic Designers Kathryn Aspin Audrey Spring Client Strategists Megan Fleming megan@m3group.biz Liz Reno-Hayes liz@m3group.biz Melissa DeMott melissa@m3group.biz Photographers Kathryn Aspin Kyle Dowling Mary Gajda Metro Melik Audrey Spring M3 Group 221 W. Saginaw St. Lansing, MI 48933 P (517) 203-3333 Subscription subscribe@517mag.com

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ED T R A I N I N G SUPPORT EED T R A I N I N G SUPPOR ED T R A I N I NNEED G SUPPORT EED T R A I N I TNRG A ISUPPOR NING ED T R A I N I NSUPPORT? G SUPPORT EED T R A I N I N G SUPPOR ED T R A I N I N G SUPPORT EED T R A I N I N G SUPPOR ED T R A I N I N G SUPPORT EED T R A I N I N G SUPPOR ED T R A I N I N G SUPPORT EED T R A I N I N G SUPPOR ED T R A I N I N G SUPPORT CONNECTING WITH BUSINESS. STRENGTHENING OUR WORKFORCE. camw.org

1-800-285-WORK

Capital Area Michigan Works! is a proud partner of the American Job Center network. In accordance with the Americans with Disabilities Act, this piece will be made available in an alternative format upon request to Capital Area Michigan Works! Relay Center. Call 711 or 844-578-6563 (Voice and TDD). Funding for Capital Area Michigan Works! is received in part from the U.S. Department of Labor and the State of Michigan. An Equal Opportunity Employer/Center.

contents

April

2022

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A Time of Transitions

Money Masters

Rehmann advisers help guide succession planning

We asked local experts for their thoughts on financial advice

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contents

lifestyle

business 11

AREA SNAPSHOT

17

TRENDS

18

NOTABLE NEWS

26

STATE/NATIONAL

28

ON THE RECORD

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PERSPECTIVES

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BIZ TIPS

A Snapshot of Local Business News Affecting the 517 Taking It All into Account Professional Highlights from the 517 Region A Brief Look at State and National News Affecting our Region Financial Literacy as a Guiding Principle Community Banking

Priorities of the Pocketbook

32

GOOD READS

34

RECIPE

36

HOME HELPERS

38

POLL

44

NONPROFIT

46

PLAY

‘The Power of Broke’ Starting from the bottom can provide motivation Tater Tot Breakfast Casserole Frugal Facelifts 5 ways to save money around the home Best of the 517 Financial matters Sandcastle Foundation Bringing support to those in need Visit 517living.com for More Lansing-Area Activities

DEPARTMENTS

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WRAP UP

SPECIAL ADVERTISEMENT

SPECIAL ADVERTISEMENT

KEY PERSON KEY PERSON INSURANCE INSURANCE

Ensuring uninterrupted critical Ensuring uninterrupted critical operations in your business operations in your business

You’ve worked hard to build the reputation of your business — getting the right people in the right positions and investing in the right training to guarantee that the well-oiled machine you have created remains lubricated and firing on all cylinders at all times.

The only weak link in the organizational chain is the unforeseen.

“You’re important to your organization, but what if you died? You’ve been with the company for X number of years, and they’ve trained you the way they want to get things done. It’s like a hand in a glove, and now they have to replace you,” said Brian Songer. “They’re not going to be able to go out and get somebody as experienced as you, who knows all the things you know about them. So now there’s dollars involved.”

Key person insurance — also frequently called key man insurance — allows companies to purchase life insurance on critical employees and executives essential to the function of their business, and it’s one the many unique and specific coverage options Songer and partner Tim Barry offer to clients at the Barry & Songer Agency of Farm Bureau Insurance in Lansing.

“Key person insurance offers you instant dollars to go out and search, hire, and train somebody for that key person to your operation,” Songer said. “A lot of businesses we meet with are not going to necessarily know about this. It’s our job to make them aware that this option is available.”

Having knowledgeable insurance agents who are looking out for your best interests is vital, and it’s why Farm Bureau believes that experience matters.

“Take someone who is winding down their career. They know they’re going to sell their business in the next five years. They’re not working like they did in the past,” Barry said. “Now they have a person in the office who is doing a heck of a lot for them. If that person died unexpectedly, they’d be in trouble. So they might want to buy a policy on that person. It may be a small policy, but it provides an influx of money so they don’t have to come in and work like they were working before.”

Key person insurance fits just about every business category because businesses of all stripes typically have a critical individual whose absence would create negative ramifications.

“Even retail. If you’re talking about J.C. Penney, probably not. But if you’re talking about a small sporting goods store whose manager does everything? Sure,” Barry said. “Who are you going to trust to do the deposits? Who are you going to trust to do the inventory? If you put somebody in that position who is stealing you blind, you’re going to be broke in two years.”

It’s why having an agent you can trust is key to outlining and understanding all the options and considerations that are available. With more than a half-century of experience between them, Barry and Songer have the depth of knowledge to help every client find the policy that provides the best fit for their business.

“Every business has a key person. It might be you, but every business has a key person where the business is not going to operate like it did before they were gone,” Songer said.

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business

AREA SNAPSHOT p.11 TRENDS p.17 NOTABLE NEWS p.18 STATE/NATIONAL p.26 ON THE RECORD p.28 PERSPECTIVES p.29 BIZ TIPS p.30

WHY A BUSINESS PLAN IS IMPORTANT TO YOUR BUSINESS STRATEGY …

AND YOUR LENDER When starting a small business, or expanding one, a business plan is your blueprint to success. This strategic plan is a road map and keeps you accountable in reaching goals. It puts focus on what you need financially, competitively and feasibly to attain and retain your business goals. Your business plan should include an executive summary, service or product, financial analysis, marketing plan and analysis, your management team, and even an exit strategy — just to name a few components. While you can alter this plan throughout your tenure as a business owner, it is important to have one from the start. Also, your lender will require it.

When applying for business loans, sharing your business plan with your lender will help them assess its viability.

Lenders want to see your products or services, your history and experience, a detailed use for the loan, projected profit, and they want to be sure your plan has actions in place that will demonstrate how well you’ll be able to repay your loan.

You wouldn’t travel to unknown territory without a GPS; think of a business plan as much the same.

It could save you from a flurry of unwanted detours.

The U.S. Small Business Administration offers a business plan tool that can help at sba.gov/businessguide/plan-your-business/write-yourbusiness-plan.

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business / AREA SNAPSHOT

A snapshot of local business news affecting the 517

SCHOR ADDRESSES VICTORIES, CHALLENGES IN STATE OF THE CITY

BY RICH ADAMS

Lansing Mayor Andy Schor gave his annual State of the City address, once again virtually because of the COVID-19 pandemic.

Schor touched on a variety of subjects, from General Motors’ plans to build a $2.6 billion electric vehicle plant to reducing violent crime.

“With over 1,700 new jobs planned for the (GM) plant and more than $2.6 billion of investment, the road to a fully electric vehicle runs through Lansing,” Schor said.

The mayor also discussed a key challenge on the minds of many residents, which is Lansing’s rampant gun violence.

“Too many people are using guns to settle arguments, and it seems that anyone can get a firearm. Young people in Lansing are using guns to solve petty arguments, and it has to stop,” he said.

The city’s investment in programs to keep young people occupied is intended to keep them from committing crimes.

Other elements of his speech included: • Plans to break ground this year for a downtown state-of-the-art live entertainment venue.

• Improving equity “to make sure that no one gets left behind,” including a focus on equity in city hiring.

• Continuing to work with partners to develop grant programs for small businesses impacted by the COVID-19 pandemic.

• The continued infrastructure improvements in the city to ensure safe and smooth traveling.

• Improving living and business conditions throughout the city, increasing housing and commercial opportunities.

The mayor ended his speech with a call to action: “I am asking for everyone to help grow Lansing. Find your passion, and work to get it done.”

The entire speech can be viewed on Lansing’s website, lansingmi.gov.

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business / AREA SNAPSHOT PROJECT IN SOUTHWEST LANSING CALLED ‘GAME-CHANGER’

BY TEECE ARONIN

A redevelopment project coming to southwest Lansing is being viewed as a potential catalyst for revitalization to the area of the city.

The mixed-used project at the intersection of West Holmes and Pleasant Grove roads will include two buildings — a 27,445-squarefoot commercial development for community services and a neighboring 19,380-square-foot residential building.

The site is the current home of the vacant Pleasant Grove Elementary School, which Malcolm X attended.

“It has tremendous potential; but due to historic neglect, any development would be challenging,” said Adam Hussain, who represents the ward on the Lansing City Council.

“Southwest Lansing has historically been cut off from job creation and job growth, equitable access to reputable health care, and financial services. …

In my opinion, this is a game-changer for our community and our people.”

Christopher Stralkowski of Ferguson Development LLC is executive project manager.

“Ferguson Development is proud to be part of this extraordinary opportunity of redeveloping this site into a community-centric development that will provide the southwest Lansing community” with greater access to critical services and resources that many take for granted, Stralkowski said.

Ferguson’s chairman, Joel Ferguson, grew up in the area and still proudly calls it home.

“Malcolm X’s parents must’ve been incredibly determined to lay a path for their children and others to break through the racial barriers they faced in the early 20th century,” Ferguson said. “Malcolm X’s commitment to self-determination and self-reliance is a cornerstone to a safe, healthy and vibrant community.”

LUGNUTS TAKE THE FIELD WITH NEW MANAGER, LIGHTS

BY RICH ADAMS

When the home-plate umpire yells “play ball” at Jackson Field on April 8, fans attending the Lansing Lugnuts’ home opener might notice a lot of newness.

Like the new manager Phil Pohl, or Greg Kigar, the newly minted assistant general manager of stadium events and operations. A new lighting system also has been installed at the diamond to provide a better experience for players and fans alike.

Pohl is managing a team for the first time.

“I’m very excited about the opportunity to start my managing career

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in Lansing after spending the last six years at the big-league level as the Oakland A’s bullpen catcher,” said Pohl, a California native who played for the Athletics in their minor league system, rising as high as Triple-A Sacramento.

“I’m already looking forward to the Crosstown Showdown on April 6, Thirsty Thursdays and other big evenings,” he added.

Kigar, who has been with the Lugnuts for three seasons, said there will be many theme nights and promotions during the 2022 season.

“We’ll have bobbleheads and other giveaways,” he said. “Beerfest

will return, along with other types of festivals and events.”

Kigar said the Major League lockout didn’t affect the Lugnuts.

“It really only affected players on the 40-man MLB rosters,” he said.

“We didn’t expect having any of those players at the high-A level.”

Health safety regarding COVID-19 remains a priority at Jackson Field, Kigar said.

“We will still do our due diligence with sanitizer stands on the concourse and touchless dispensers,” he said.

“But nothing drastic like when we started our 2021 season.”

FEATURE

A TIME OF

TRANSITIONS REHMANN ADVISERS HELP GUIDE SUCCESSION PLANNING

BY OMAR SOFRADZIJA 517 13

FEATURE

Luck is preparation meeting opportunity, or so the saying goes. When it comes to running a small or midsize business in mid-Michigan, a little bit of foresight can create a lot of good options in terms of succession planning.

Such business transitions like business mergers and acquisitions, also known as M&A, “have really taken off” in Greater Lansing as of late, said Bill Burke, the Lansing-based director of client services and business development for Rehmann, a financial services and advisory firm.

“The aging population — baby boomers exiting — and opportunistic sellers are the leading drivers,” Burke said. “There is some evidence that the pandemic has worn on business owners, not unlike the general population, to the point that they might simply be accelerating a transition that was

planned for several years down the road and figuring, ‘Why not now?’”

The trend is hardly local though.

“The country’s demographics are playing a part in this trend. The baby boomers are getting to the age where transitions are common regardless of outside factors like a pandemic or fears about economic pullbacks,” Burke said. “Many of these business owners were also in business during the Great Recession/fiscal crisis, 2007-2009, and see the current high multiples and large amount of PE (private equity) monies out there as an opportunity to exit before another potential downturn.

“M&A activity seemed to slow for a bit for the first six to nine months at the onset of the pandemic but, since then, has really taken off again. These factors seem to be increasing given the current market conditions and the thought that

interest rates are scheduled to increase in the upcoming year,” he continued.

“Private equity money and activity is behind a lot of these transitions, and it’s hard to see that trend decreasing in the near term.”

While those opportunities can spring up quickly, being in a position to optimize a business transition can take time that isn’t always available.

“Most transactional services advisers will tell you that the preparation or ramp-up time typically takes three to five years for a company to be fully prepared for the event,” Burke said. “The takeaway would be to be proactive in your planning, partner with a strong business adviser with plenty of experience in transactional services, and do not wait until the last minute.”

That means business owners and managers should look at themselves

THE FINANCIAL ADVISER: A KNOWING GUIDE When on a journey, it’s helpful to have a knowing guide. That’s the role a financial adviser can play for small- and mediumsized business owners who are mapping out their paths — especially regarding business transitions — to ensure they fully benefit from sales, mergers and acquisitions.

“As a financial/business adviser, we are planners by nature. We will create a plan with goals, and track and measure those goals with a desired outcome in mind while limiting risks,” said Kris Burak, financial adviser and office managing principal of wealth management for Rehmann.

“Specific to business transitions, it is recommended that you work with your trusted advisers — CPA, estate planning attorney, financial adviser — to be proactive; you want to plan in advance pretransition to maximize the value of your business and minimize the tax obligation while preparing for your life post-transaction,” Burak said. “Planning in advance of a deal typically allows you to negotiate from a position of strength versus starting planning after a deal is on the table.”

* Securities offered through Rehmann Financial Network LLC, member FINRA/SIPC. Investment advisory services offered through Rehmann Financial, a registered investment adviser.

BUSINESS-SELLING BUSINESS IS BOOMING The number of U.S. businesses for sale grew each quarter during 2021, topping prepandemic levels by year’s end, according to data from BizBuySell.com. Growth expected to continue in 2022.

2021 QUARTER: NUMBER OF FOR-SALE BUSINESSES

JANUARY-MARCH: 1,951 APRIL-JUNE: 2,049 JULY-SEPTEMBER: 2,283 OCTOBER-DECEMBER: 2,364 Source: BizBuySell.com https://smallbiztrends. com/2022/02/sales-small-business-top-prepandemic-level.html

now, before something of interest pops onto their radars.

“Companies that for whatever reason do not require the need for financial statement audits or robust internal financial reporting seem to be the ones that really need particular attention in transition preparation.

The level of financial scrutiny that a PE firm will bring to the negotiating table will probably be something with which they are unfamiliar,” Burke said.

“Professional service providers are extremely important right now due to private equity looking for predictive and steady cash flows.”

What kinds of enterprises are particularly hot right now?

“As far as the types of businesses being impacted, insurance companies continue to be an area of focus, particularly middle-market companies,” Burke said. “Another area in which we have seen some activity is in auto dealerships being sold to larger family groups and private equity.”

Winging such a transition isn’t advisable.

“For what could be the most important financial decision you’ll make, and one that most business owners will encounter only once, having an experienced advisory team can be invaluable in the sale, merger, partial sale or recapitalization of your business,” said Stacie Kwaiser, chief operating officer for Rehmann. “By partnering with an advisory team — a team that ensures a holistic approach to a business owner’s unique situation — all bases are covered.

“The decision to transition your business is an emotional one, and staying on top of things throughout the entire process may feel overwhelming at times. An advisory team approach ensures business owners have support and guidance every step of the way, from business valuation and tax strategizing to addressing financial goals and planning for what life looks like after the business transition takes place,” Kwaiser said.

In addition to getting your ducks in a row, there are a number of external variables of which business owners should be aware that could impact their transaction.

“Like all businesses nationwide, our region’s businesses will need to continue to attract, train and retain staff in the new flexible work environment,” Burke said. “Something unique to Lansing will be seeing what occurs downtown with the state of Michigan continuing to offer employees the option to work from home and what impact that has on the local commercial real estate market.

“But on the positive front, Lansing is becoming one of the nation’s fastest-growing med tech/life sciences hotbeds, with notable strength in medical isotopes, medical devices and biotechnology,” Burke said. “Lansing also has some great visionaries, developers and entrepreneurs who will ensure growth and economic prosperity for years to come, and Rehmann is excited to be a part of that future.”

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SPECIAL ADVERTISEMENT

PROMOTE EFFECTIVE FINANCIAL EDUCATION IN THE WORKPLACE

By Carrie Rosingana, CEO of Capital Area Michigan Works!

Financial literacy is an imperative skill. It equips everyone with the ownership of knowledge, resources and the set of skills necessary for a person to make informed choices for a lifetime of financial well-being.

The 2018 National Financial Capability Study calculated that more than 55% of employees are worried about running out of money in retirement. At the same time, 47% of people feel anxious or stressed when having to face discussions about their personal finances.

Promoting financial education programs housed in and out of the workplace is crucial for employers striving to be a thriving organization.

It provides the opportunity to build a financially healthy future for their business and the people behind it. These programs encourage inclusion and empower workers, giving them the chance to have a voice in the monetary issues that affect their lives.

In addition to an appealing incentive for individual employees, financial literacy programs have the potential to create a healthier, more invested and productive workforce. Financial literacy education teaches relevant skills in managing finances and advocates for change in how we think about finances, which in turn can decrease the anxiety and stress levels that can be felt tied to this aspect of life.

The Business Resource Network (BRN) at CAMW! works daily with employers to address these needs, along with others, that employees may be facing, and it offers resources for developing solutions. Companies work with the BRN to help improve employee retention through personalized coaching and support to better employee lives. The long-term goal is to find pathways out of poverty for those facing obstacles to employment success.

“It’s really been an invaluable resource,” said Darlene Priest, regional human resource manager for Woodbridge Group Lansing. “I

think this partnership with Michigan Works! has really benefited not only us as an employer but our employees as well.

Just as a way to help them navigate all the obstacles that can stand in the way of keeping their jobs.”

In Lansing, these skills are further emphasized by the Financial Empowerment Center (FEC). The EFC’s trained, professional counselors provide help to individuals and their families. All services are free, including counseling and credit report analysis, the services help you: 1.

2.

3.

4.

5.

6.

Create a budget Reduce money stress Improve your credit Pay down your debt Access affordable bank accounts Save money for the future

Financial literacy is an essential skill. It equips everyone with the knowledge and skills to manage money effectively. By offering opportunities to support financial literacy in the workplace, people’s economic decisions can build a more solid foundation to set them up for future successes.

Carrie Rosingana is the CEO of Capital Area Michigan Works!. Visit camw.org for assistance with career exploration or staffing needs. CAMW!, a proud partner of the American Job Center Network, offers services in Ingham, Clinton and Eaton counties at our Lansing, St. Johns and Charlotte American Job Centers.

business / TRENDS

TAKING IT ALL INTO ACCOUNT FIVE FINANCIAL JOBS THAT ARE OFF THE BEATEN PATH

When you think about a career in finance, thoughts might turn to the 9-to-5 desk job in the cold, corporate, gray-flannel world. However, the scope of finances is much wider than those limited first impressions. Here are five job paths in finances that are bit more than just crunching numbers.

NONPROFIT ACCOUNTING Use your good skills for organizations that are doing good things in your community as a nonprofit accountant by helping nonprofits plan, record and report their activities. “The job of a nonprofit accountant is to help manage finances on behalf of a nonprofit organization or program,” according to ZipRecuiter. “Many of their duties are similar to other accountants — completing tax documents, managing accounts receivable and accounts payable, and overseeing employee payroll. In addition to these responsibilities, one of the primary functions of a nonprofit accountant is logging each donation and ensuring funds are used properly. Many aspects of this job vary based on the needs of the organization.”

Source: ziprecruiter.com/Career/Non-Profit-Accountant/ What-Is-How-to-Become

ENVIRONMENTAL ACCOUNTING Looking for a financial position that offers a truly sustainable career? Make your colleagues green with envy by going into environmental accounting. You can help companies build smarter and become more energy-efficient in their practices and programs — all while helping to make the world a better place. According to Environmental Science, the most obvious application of environmental accounting might be calculating a company’s cost of environmental compliance, but they “can also help save on costs to the environment itself. Many

times, environmental accountants can save on both environmental and financial costs by making calculations for the use of alternate chemicals, processes or product designs.”

Source: environmentalscience.org/career/environmentalaccountant

SPORTS ACCOUNTING Think you can play ball by combining accounting and sports into a single career? It’s a winning strategy for sports accountants. You don’t have to have athletic ability as long as you can flex that muscle between your ears. In addition to handling payroll for anyone involved in a sports franchise, other responsibilities can include handling “image rights and public appearances,” according to Jobs in Sports. “Assessment and tracking of sponsorships and advertising deals of the team is another responsibility of a sports accountant. Finally, much of the overarching duty of accounting jobs in sports is to ensure that everything is properly compliant with the tax code.”

It’s a fair bet that great seats are also an added perk of the job.

Source: jobsinsports.com/blog/2021/09/08/sports-jobinsights-what-does-a-sports-accountant-do/

FBI FORENSIC ACCOUNTANT Accountants have been among the ranks of G-men since the FBI was created in 1908, when bank examiners were part of the team of initial investigators.

These days, roughly 15% of the FBI’s force are special agent accountants, but you don’t need to be a cloak-and-

dagger specialist to work with the bureau. The FBI has been using nonagent accountants since the 1970s to help catch the baddies. “At the FBI, our forensic accountants conduct the financial investigative portion of complex cases across a wide variety of bureau programs — investigating terrorists, spies and criminals of all kinds who are involved in financial wrongdoing,” according to the bureau website. Book ’em, Danno.

Source: fbi.gov/news/stories/fbi-forensic-accountant

MILITARY FINANCE OFFICER You can serve your country in more ways than one as a military finance officer. Every branch of the armed forces has financial units to ensure military operations in the nation are running like a well-oiled machine. Duties include disbursing money to manage payroll, purchase supplies and support military services. “On a typical day, military finance officers may perform audits, review budgeting proposals, analyze financial reports, allocate funds, approve payments, give travel allowances and establish financial systems,” according to Master of Finance. “Most will report directly to the commander to provide data on the management of funds. Military finance officers also play a managerial role in supervising a group of finance clerks and accountants.”

Source: master-of-finance.org/job-profiles/militaryfinance-officer/#:~:text=Military%20finance%20 officers%20are%20given,like%20a%20well%2Doiled%20 machine

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business / NOTABLE NEWS ews our n COM y t i bm AG.

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INFO

PROFESSIONAL HIGHLIGHTS FROM THE 517 REGION

Origami Rehabilitation Celebrates 25 Years Origami Rehabilitation is celebrating 25 years of serving the community, during which they have transformed the lives of 2,500 individuals and their families.

Origami, a 501(c)(3) nonprofit organization, was born out of a unique and innovative partnership between Peckham Inc. and Michigan State University’s College of Osteopathic Medicine to meet a great need in the community and provide exceptional rehabilitation in the mid-Michigan area.

On April 7, 1997, Origami opened a residential program specializing in serving adults with traumatic brain injury. Over

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the last two decades, it has gradually expanded to become a unique multidimensional continuum of residential and outpatient care serving children, adolescents and adults with neurological, developmental, mental health and orthopedic conditions.

“It’s surreal to think we’ve been serving the midMichigan area and beyond for 25 years now. Although many things have changed and advanced at Origami over the years, one symbol has remained, the Origami crane. The crane symbolizes a long, productive life; and helping our clients achieve that will always be at the core of what we do,” said President and CEO Tammy Hannah.

Sparrow Welcomes Medical Chiefs of Staff Sparrow Health System announced a variety of new medical chiefs of staff to serve the regional community.

Dr. LaKeeya Tucker has begun a twoyear term as chief of medical staff at Sparrow Hospital in Lansing. Dr. Michael Kent

McLeod has been elected to serve as chief of staff-elect during Tucker’s term.

In addition, Sparrow’s community Dr. LaKeeya Tucker hospitals have also chosen new chiefs of staff: Sparrow Carson Hospital welcomed Dr. Michael Racine, Dr. Troy Ferguson is the current chief of staff at Dr. Michael Kent McLeod Sparrow Eaton, and Sparrow Ionia Hospital welcomed Dr. Brett Reich as the new chief of staff and Dr. Zuhair Abualrihy as the new vice chief of staff.

Tucker is Sparrow’s first AfricanAmerican chief of staff and will represent and communicate the views of medical staff members while working with Sparrow leadership to ensure quality, compassionate care for all patients. Tucker is a noted OB-GYN who has practiced at Alliance Obstetrics & Gynecology in East Lansing for 19 years and served as Sparrow Hospital’s chief of staff-elect for two years.

“It is with great pride and honor that I serve in this role,” Tucker said.

YOUR PASSION YOUR PURPOSE Wealth management shouldn’t get in the way of doing what you love. With Rehmann’s multidimensional team on your side, you’ll have a customized, fully integrated financial plan that works toward providing for your present while setting the stage for a strong tomorrow. We’re more than just financial planners — we look at the whole picture to help you prioritize your personal growth and prosperity.

Contact a Rehmann advisor today and put our experience to work for you. Visit rehmann.com or call 866.799.9580.

Securities offered through Rehmann Financial Network, LLC, member FINRA/SIPC. Investment advisory services offered through Rehmann Financial, a Registered Investment Advisor. Insurance services offered through Rehmann Insurance Group.

Advisory & Tax \ Assurance \ Business Consulting \ Wealth Management \ Comprehensive Technology \ Accounting & Human Resource Solutions

small — it doesn’t have to mean depositing a lot of money all at once. Starting small today will help children achieve their dreams tomorrow.

CELEBRATING CREDIT UNION YOUTH MONTH

By Deidre Davis, MSU Federal Credit Union’s Chief Marketing Officer Spring is here and so is the arrival of Credit Union Youth Month. Each year in April, the Credit Union National Association focuses on youth members and helping them achieve a bright future by developing good financial habits while they’re young.

This year’s Credit Union Youth Month theme is Save Small. Dream Big. A main focus of this year’s theme is showing children that saving can start

One way to help your young saver learn is to let them earn an allowance by doing chores around the house. Then, have them take their allowance to their local credit union to deposit it into their very own savings account. Show them the balance each time they make a deposit and discuss what they want to save for. Watching their savings grow while working toward a goal will help them learn the value of saving.

MSUFCU offers a variety of youth accounts that grow with your children. From the day they’re born through high school, they’ll learn about saving, budgeting, and more, all while having fun.

Plus, MSUFCU youth members

earn digital coins when they make deposits into their accounts. Then, they can redeem their digital coins for items in the online Youth Store.

Additionally, MSUFCU will celebrate National Credit Union Youth Month throughout April with specials just for our youth members. When visiting any of our 22 branches throughout April, youth members will receive a free gift — while supplies last. To learn more about MSUFCU’s youth accounts and ways to celebrate Credit Union Youth month, visit msufcu.org.

DEIDRE DAVIS

Chief Marketing Officer MSU Federal Credit Union deidre.davis@msufcu.org | 517-333-2424 Headquarters: 3777 West Rd., East Lansing, MI 48823

business / NOTABLE NEWS ews our n COM y t i bm AG.

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“It is my plan to represent my peers and Sparrow Hospital to the best of my ability.

I remain grateful to those leaders who have blazed the trail for me. My mindset brings Congresswoman Shirley Chisholm to the forefront. She said, ‘You don’t make progress by standing on the sidelines, whimpering and complaining. You make progress by implementing ideas.’ Her landmark position as the first Black woman to serve in the U.S. Congress parallels my election to this position.”

Clark, Christnagel, Bowen Join Triterra Triterra, a Michigan-based environmental consulting firm, announced the addition of three new staff members.

Kyle A. Kyle A. Clark Clark joined Triterra as the director of industrial hygiene, working out of the Grand Rapids office.

Clark holds a bachelor’s degree Kathleen Christnagel in biology with a concentration in environmental health and safety from Central Michigan University. He oversees the overall industrial Alexsis Bowen hygiene projects and services that Triterra offers to clients and ensures work is

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performed in compliance with all regulatory agency requirements.

Kathleen Christnagel joined Triterra as an environmental scientist, working as a part of the due diligence team.

Christnagel holds a bachelor’s degree in biology from Alma College. Her work focuses on environmental due-diligence services. Christnagel also supports the remediation group and natural resources group. She conducts Phase I environmental site assessments, field assignments, data analysis and technical report preparation.

Alexsis Bowen joined Triterra as an environmental scientist, working as a part of the due-diligence team. Bowen holds a bachelor’s degree in geoscience from Tennessee Tech University. Her work focuses on environmental duediligence services. Bowen also supports the remediation group and natural resources group. She conducts Phase I environmental site assessments, field assignments, data analysis and technical report preparation Meridian’s Tanner Earns Master Plumber License The Meridian Co. announced AnnaLisa Tanner is now a licensed master plumber — one of a small number of women in the traditionally male-dominated industry.

Tanner joined Meridian in 2016 after shadowing the company as a high school senior at the Wilson Talent Center in the Ingham Intermediate School District. She quickly excelled as an apprentice and earned her journey plumber license from the state of Michigan in 2019, and just this year she received her license as a master plumber. In addition to being a rising star at Meridian, she’s also a plumbing instructor at Greater Michigan Construction Academy.

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Along with her hard work and commitment, Tanner credited the team at Meridian for supporting her career ambitions and growth.

“It’s very family-like at Meridian. It’s a very open and accepting culture with people who inspire me to go above and beyond,” Tanner said.

While the Michigan Department of Licensing and Regulatory Affairs does not collect information on gender for licensees, nationally the number of female plumbers is small. According to the Bureau of Labor Statistics, in 2021 there were around 587,000 licensed plumbers, pipefitters and steamfitters in the country and only 2.1% — less than 12,400 — of them were women.

For other women considering a career in plumbing, Tanner encourages them to take the leap.

“Just do it because it’s not as difficult as some say,” she said. “There’s nothing a guy can do that a woman can’t do, so don’t be afraid and just go for it.””

LCC Foundation Receives $900K Gift The Lansing Community College Foundation recently received a major gift from the estate of Richard A. Sellers, who passed away in 2012 and left an initial gift of $100,000 to support scholarships for students at LCC. This year, after the passing of his longtime partner, the foundation received an additional gift of $900,000 from Mr. Sellers’ estate. These gifts will support scholarships in perpetuity as an endowment with the foundation.

“We are excited Richard thought of the LCC Foundation as a way to leave his legacy,” said Cathy Zell, executive director of the foundation. “This gift will provide the dream of higher education for many LCC students.”

SPECIAL ADVERTISEMENT

OVER

ANTIBIOTIC-ED?

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n the last 517 Magazine submission, I addressed “Is There Wisdom in Wisdom Teeth Removal for Your Teen.” I referenced that, in my mind, the most significant side effects are not from the surgery itself but the consequences of prescribing “prophylactic” (preventive) antibiotics.

Because we haven’t developed room enough to accommodate wisdom tooth eruption, we often end up with teeth that are “impacted,” meaning embedded in the gums and/or bone. Still, in the hands of a skilled oral surgeon there are very few post-op complications. For most of us, our bodies heal well, despite what we do to insult it.

Putting a youngster on antibiotic prior to the extractions, even when there is no sign of infection, seems like the definition of “overkill” to me. You see, antibiotics don’t just kill potentially harmful bacteria but all the good, protective gut bacteria along the way.

Unfortunately, the GI system doesn’t bounce right back after the prescribed course of antibiotics are completed. In truth, it might take months. People don’t tend to talk about gut discomfort or the changed consistency of their poops — but that is indicative of disruption in the gut-bug diversity, a shift in the microbiome. In the worst-case scenario, we can develop a potentially deadly infection called C. Diff. More commonly, we can cause permanent extinction of entire families of gut bugs. In today’s world, our gut bug diversity is about half of what our ancestors had, and this depletion is wreaking havoc with our entire immune systems.

Overuse of antibiotics in today’s world is also cascading us into some very dangerous population side effects. First, antibiotics are losing their punch as the antibiotic-resistant genes in the bacteria themselves are becoming more widespread. Have you heard the term superbugs? They’re REAL. These are robust antibioticresistant strains of bacteria like MRSA, VRE and MDR TB. This is clearly in response to our massive use of antibiotics. They are not only over-prescribed for people but even more prevalently fed to livestock for purposes of fattening them up. In today’s world, specific antibiotic resistance is now arising within a year or two, often

making our newly introduced antibiotics ineffective within three to five years.

As a response, most pharmaceutical companies have reduced their budgets for developing and introducing new antibiotics. That’s scary. With fewer antibiotics on the market and antibiotic-resistant bugs on the rise, we are predicted to face the population death rates from bacterial infections that my grandparents did. In fact, the World Health Organization considers antimicrobial resistance a serious threat that is no longer just a prediction.

Embarrassingly, my own (dental) profession is lagging in its response to the antibiotic crisis. A large 2018 look-back study revealed that from 1996 to 2013, physician prescribing declined 18.2%. Now that’s progress! Unfortunately, dental professional’s prescribing increased 62.2% during that same time. And dentistry’s proportionate contribution increased from 6.7% to 11.3% of all antibiotic prescriptions. Among the handful of plausible reasons listed in the publication were unwarranted preventive antibiotics for extraction of wisdom teeth.

With this in mind, your kids need you. Brave Parents advocate for no antibiotic prescriptions unless there is a known pre-existing infection. By the way, this rule not only applies for dentistry but all of medicine. The most healthful, Brave Parents never push their docs for antibiotics — saving this important arsenal for when there is a real bacterial war to rage.

Dr. Susan Maples is a dentist in Holt. She is also a speaker, health educator, and author of “BlabberMouth! 77 Secrets Only Your Mouth Can Tell You to Live a Healthier, Happier, Sexier Life” and “Brave Parent: Raising Healthy, Happy Kids (Against All Odds) in Today’s World.” Reach her at Susan@DrSusanMaples.com

Total-Health-Dentistry.com 517-694-0353

business / NOTABLE NEWS ews our n COM y t i bm AG.

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Sellers was a graduate of Lansing’s Eastern High School. After receiving a degree in finance and accounting, he began a career in banking, retiring from Comerica Bank where he served as vice president of commercial lending. Sellers felt strongly that education was the solution to many of the problems that society faced.

Although he did not attend LCC, according to Neal Gatton, Sellers’ partner of 51 years, he felt that because he made his money in Lansing, he wanted to leave it in Lansing.

Caregiver Response Recognized by Sparrow Carson Sparrow Carson Hospital recognized registered nurses Karmen Bussell and Patrick Kane as its Caregivers of the Quarter.

Bussell and Kane were nominated for their quick efforts in life-saving patient care by helping a patient having a stroke receive urgent care in the Sparrow Carson emergency department. The team provided the patient with excellent care without any delays.

The incident happened when a woman ran into the hospital yelling that her

Sparrow Carson Hospital

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husband was having a stroke at a nearby home. Bussell and Kane ran to the home with a wheelchair and found the patient on the floor, lifted him into the wheelchair, and brought him to the emergency department.

Their nomination reads, “Pat and Karmen’s quick efforts made all the difference for this patient. They did everything perfectly and what could have been a terrible outcome, wasn’t.”

Bussell and Kane were presented with a certificate of recognition and tumbler filled with goodies from Sparrow Carson administrators for their willingness to go above and beyond to provide the community with the leading-edge care.

Carrillo Reaches New Status at Chapman Chaz Carrillo joined the David Chapman Agency at the end of 2019. In just two short years he has become one of the fastest agents to reach profit-sharing status in company history.

The agency attributed his rapid success to Carrillo’s professionalism, expertise and commitment to his clients.

Carrillo’s client base is wide-ranging, from businesses and families of all shapes and sizes.

His specialties have evolved to include cyber-liability, professional liability, product liability, contractors, trucking/ fleet and nonprofit insurance over his seven years as an insurance professional.

Outside the office, Carrillo is very

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active in the community, serving on many local nonprofit boards and organizations, including his home church. He currently resides in Lansing with his wife, Nicole, and their five daughters.

Community Mental Health Leases Space in South Lansing The Community Mental Health Authority of Clinton, Eaton and Ingham Counties is expanding its services by leasing 20,000 square feet in the Corporate Centre office building at 5913 Executive Drive in south Lansing.

The space will be used as office and administration space for the Families Forward Program, which has three main areas of focus: family guidance services, early intervention services and specialty services. Together these units specialize in helping families with children who have mental health challenges both in school and at home.

The authority is currently located on Jolly Road. The space at Corporate Centre will be used in addition to the main headquarters building. Corporate Centre is the former corporate headquarters of Jackson Financial and is currently home to the regional operation of Enterprise Car Rental and FTC&H Engineers. The space was chosen by the authority due to the open floor plan and the existing furniture that was in place.

“This will be a perfect site for us to expand and facilitate a very important program that CMHA-CEI administers in the area,” said Sara Lurie, chief executive officer of the authority.

Jackson Financial was represented by Eric F. Rosekrans, senior vice president and office adviser, for Martin Commercial Properties.

Dobie Road Outpatient Therapy and Wellness

EXPERIENCE THE DOBIE DIFFERENCE! •At Dobie Road Outpatient, our therapists will work with you one-on-one for your entire session! We won’t leave you to work with another patient during your appointment time, we keep our focus on you!

•Our outpatient physical therapist is specially certified as an Orthopedic Manipulative Therapist.

•Our state-of-the-art gym and warm water pool allow our therapists to use many different techniques to help relieve pain and increase functionality!

•The Dobie Road Outpatient Therapy Clinic offers Physical, Occupational, Speech, and Warm Water Aquatic Therapy for ages 10-110.

•You can now take Dobie Outpatient Therapy On The Road! Virtual tele-therapy appointments now available, call us for more information at 517-381-6169.

•Arthritis Foundation© Aquatic and Ai-Chi (tai-chi in water) classes are now available in our warm water pool!

Sign up today on our website at dobieroad.org/wellness.

Classes are $5 each.

•Our 24/7 fitness center is just $15/month and includes a short indoor track and CYBEX© fitness equipment.

IMPROVING YOUR LIFE IS OUR MISSION www.dobieroad.org 3860 Dobie Road • Okemos • 517-381-6169

NEW HOSPITAL. NEW ER. NEW ADDRESS. NOW OPEN.

WELCOME TO THE NEW McLAREN. Our all-new health care campus is now open and located near the intersection of Forest and Collins roads. Here, we are advancing care, safety, comfort, and convenience for the Lansing community. From the cancer-fighting expertise of Karmanos to a modern heart and vascular institute to luxurious labor and delivery suites to an emergency department that reinvents the patient experience, we’ve brought our best closer to you.

Visit mclaren.org/lansing to learn more.

2900 Collins Road Lansing, MI 48910 (517) 975-6000 mclaren.org/lansing

business / STATE/NATIONAL

A BRIEF LOOK AT STATE AND NATIONAL NEWS AFFECTING OUR REGION

TRENDING TOPICS IN MICHIGAN AGRICULTURE FOR SPRING

BY CHRISTINE MACINTYRE

Michigan is the second most agriculturally diverse state in the nation, only behind California, with more than 300 agricultural products being grown on over 50,000 farms. Michigan’s $100 billion food and agriculture industry — encompassing farms, food processors and related industries — employs 22% of the workforce.

Michigan ranks first for specialty crops such as asparagus, tart cherries, cucumbers for pickling, chestnuts, winter squash and turnips — followed by second in the country for celery, fresh market cucumbers, dry beans and squash. Between April and November, fresh produce is readily available.

“Asparagus is the first field crop harvested each year in Michigan, averaging around 20 million pounds on approximately 9,500 acres,” said Jamie Adams of the Michigan Asparagus Advisory Board.

While fresh foods were once considered a luxury item, accessibility to the resources Michigan’s land provides is improving.

However, given the volumes of farm-grown products moved from farm to table, challenges are inevitable. Namely, the “continued substantial uncertainties regarding the supply chain, including workers within the supply chain, qualified truck drivers and the ability of companies on all points of the chain to get the job done,” according to Chuck Lippstreu, president of the Michigan AgriBusiness Association.

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Reflective of this fact is that since asparagus is a handharvested crop that requires picking once or twice per day, labor is crucial to getting asparagus to local communities; however, Adams said that is a huge issue for producers.

“Each year, it is harder and harder to find reliable labor at an affordable price,” she said. “For the most part, growers are unable to find local labor willing to pick asparagus.”

Mears resident Dwight Fuehring, owner of Fuehring Farms and chairman of the Michigan Asparagus Advisory Board, agreed.

“The biggest challenge on my farm and many others is the price of everything, including labor,” he said.

To continue supplying grocers, schools and institutions with fresh foods such as asparagus, every link in the supply chain must be solid, right down to the farmers who plant the seeds. However, Adams said the job gets done, or the crops get mowed down. The average life expectancy of an asparagus stand is 13 years.

“So, if the asparagus can’t get harvested, farmers mow it down to ensure the stand remains viable for future years,” Adams said.

Regardless, Fuehring said Michigan remains ideal for farmers due to their “ability to grow a more diversified crop mix than the rest of the country given our lakes and climate.”

MANUFACTURERS MAINTAIN SUPPLY CHAIN OPTIMISM

BY CHRISTINE MACINTYRE

From raw material to supplier, manufacturer, distributor, then retailer and finally to consumer, manufacturing companies are familiar with the ebb and flow of logistics and demand around which the supply chain revolves.

However, current issues are widespread at national and international levels. They are convoluted by things such as weather, an influx in demand, a challenging labor environment, chassis shortages, ocean port disturbances and congestion, and highly fragmented U.S. truckload capacities, to name a few.

The average consumer first witnesses it at the grocery store by consistently empty shelves and unavailability of essential products.

Behind the scenes, Michigan manufacturing companies witness the side effects of the issues that inundate the supply chain; however, they are learning to navigate them through innovation and improvisation. Capital Area Manufacturing Council Executive Director Cindy Kangas said that the area’s manufacturers remain optimistic and solution-focused.

Each component — resources, transportation, warehouse capacity, workforce — is a link in the chain; therefore, the entire chain takes a hit when one link breaks. Kangas said the links extend from product packaging and trucking; availability of machinery and materials such as plastic, wood, and metal; machinery

microchips; storage solutions to keep goods fresh while they wait out transportation delays; and, of course, manpower.

Local manufacturers keep resources on hand and assist each other when possible.

“They’re knocking down walls and expanding if they have the manpower,” Kangas said, adding that local manufacturers are obtaining resources and goods from within the United States more frequently to avoid the challenges of overseas commerce.

Steve Raetz, director of research and market intelligence at C.H. Robinson, advises the Capital Area Manufacturing Council.

He encouraged manufacturing companies to be open, build strong relationships, be prepared to utilize alternative options and understand market dynamics.

According to Raetz, finding new ways to sustain and bring on new business and diversifying talent acquisition and retention strategies are critical components to navigating today’s complex market.

“Planning and adaptability are required, not optional,” he said.

Raetz posits the eventual, albeit a gradual, market improvement over the next couple of years. Kangas agreed, citing that — while future disruptors exist, including the Chinese New Year, Winter Olympics and expiration of union labor contracts — there is room for optimism for manufacturing companies as they learn valuable insights into the supply chain and how to navigate a compromised market.

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business / ON THE RECORD

FINANCIAL LITERACY AS A GUIDING PRINCIPLE

PHOTO BY ISLAND EWERT

ON THE RECORD WITH JIM OWENS, FINANCIAL ADVISER FOR LANSING COMMUNITY COLLEGE

BY MARY GAJDA

As the saying goes, “You don’t know what you don’t know.” When it comes to paying for college, the facts can be a game-changer, and that’s why it’s important to meet with a financial adviser at your college of choice.

Jim Owens is one such financial aid adviser at Lansing Community College. With a nearly 30-year tenure at LCC, Owens has spent the past 22 of those years helping students navigate financial aid. The bulk of his work is deeply impactful to those he advises.

“Much of my one-on-one work is with students whose financial aid eligibility has been suspended due to lack of academic progress, a key requirement for retaining eligibility, and helping students who have experienced what we call ‘special circumstances,’ which impact their ability to pay for college — circumstances such as divorce, loss of income and homelessness,” Owens said.

He also shared that 86% of students nationally use financial aid, which is about the same percentage for LCC. “Most people cannot afford college on their own, and we want to make sure to reach every student or family who thinks they can’t afford college and tell them that they actually can,” Owens said.

LCC administers tens of millions of dollars in federal, state and institutional aid each year, offering the standard programs that nearly all colleges do. LCC also participates in many state of Michigan scholarship programs, such as Futures for Frontliners, Reconnect, the Tuition Incentive Program and others.

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“LCC students also receive millions of dollars each year in the form of scholarships from either our LCC Foundation, Adult Resource Center or athletics, or from the Lansing or Mason Promise or Lansing Hope Scholarship programs,” Owens said.

But students and their families also need to know the actual costs involved along with the programs and the rules that govern who gets what and when.

“We talk with every new student about finances in our orientation program, and again with those students who enroll in our academic success courses,” said Owens. “We have made financial literacy a guiding principle in all that we do. We want students to understand their options for paying for college, as well as the responsibilities — both academic and financial — that go along with these. Dropping or adding classes, changing majors and even failing a course could have a detrimental effect on a student’s financial standing with the college. If and when that happens, advisers like myself work with these students to try and get them back on track.”

Owens and his colleagues are available and encourage questions.

“Our office is open five days a week, and students can call or stop in for help pretty much anytime,” he said. “We are an opendoor department and work collaboratively with academic advisers and success coaches to help keep our students moving forward.”

Students can also schedule face-to-face or virtual appointments.

business / PERSPECTIVE

COMMUNITY BANKING A Q&A WITH CRISTIN REID, CHAIR AND CEO OF CAPITOL NATIONAL BANK

BY KYLE DOWLING

Q& A

Tell us about Capitol National Bank’s history, when was it started and who it serves.

This year the bank is celebrating its 40th year, and that’s a milestone. So, we’re celebrating all year. It was formed in 1982 by some local businessmen. Joe Reid, my father, was one of them and Joe Ferguson and Dave O’Leary from O’Leary paints. They came together and recognized the need for a community bank in Lansing.

Community banks are different from the national banks. They have a different scope, because community banks are comprised of local shareholders, local directors and they’re focused on businesses.

What’s important about a community bank that differentiates it is that they’re invested in the community, they know the business owners of the other local businesses. When times get tough, like they did in the recession, they don’t pull up and leave like a lot of the larger banks.

What does your current role as chair and CEO entail, and can you give us a brief background on your experience?

The technical role is that I’m responsible for the strategic oversight of the bank, setting strategic objectives and the implementation of those objectives. When you’re at a small bank, the role is to

do whatever it takes. So, I’m involved at all levels of the bank.

I meet with many of the employees on a weekly basis and stay very involved in the oversight of the institution, trying to assist in ensuring that we’re staying true to what our objectives are and how can we better serve our customer.

What is one of your greatest accomplishments?

I would have to say the PPP loans. The bank president, Ed Hardin, and I met very early on in the pandemic and decided that we needed to be proactive. When the PPP program came along, we were ready. I’m proud to say that during the two rounds, we served about 1,500 businesses. We took it as it came and decided that, irrespective of whether it was profitable for the bank or not, it was our obligation to step up and help these businesses that were struggling. We did PPP loans in 32 different states. We received a lot of positive feedback like, “Wow, you saved us; we weren’t going to make it.”

You are a woman chair and CEO of a local community bank in a male-dominated industry.

How does it feel to be in a league of your own?

I’ve never paid a whole lot of attention to that individually. But as I’ve gotten older, and now have three daughters, I’ve noticed it as more as a problem than I did personally. I’m pleased because it’s changing. Seven out of 80 banks headquartered in Michigan have female CEOs. But then those numbers are improving. There are more female CFOs than CEOs. And then there’s a similar number of female chairs of banks. But it’s important. I think diversity in every context is important. It’s important because it shows a different perspective on your decision-making process. There’s something you can learn from everyone. So, the more diverse group of people you have, when you’re in a boardroom, for example, the better decisions you’re going to make.

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business / BIZ TIPS

PRIORITIES OF THE POCKETBOOK Considerations in your personal finances

BY SHELLEY DAVIS BOYD

In his book titled “The Subtle Art of Not Giving a ...,” Mark Mason points out in his crass yet poignant way that we all have money problems. He illustrates this by saying that even Warren Buffett has money problems — his money problems are just better.

As a student of the universe living a very human experience, I struggle with the importance I (Dare I say, we?) place on money. I wholeheartedly understand that money does not buy happiness, but it does provide choices. If done thoughtfully, I can make choices that help my personal development and growth. That makes my heart sing.

When it comes to your personal finances, I encourage you to consider the following: What Are Your Priorities?

I have found that people find the time and money for important things. The problem is that we frequently prioritize what’s important without giving it much thought, and then ruminate on what material things we believe are lacking in our lives. So, I recommend folks first take an honest look at where their money is going. Forewarning — it may be uncomfortable, but it is a necessary step to move forward.

Next, take a 10,000-foot view to begin the process of prioritization. For example, do you want to travel more? Retire early? Pay off debt? Having clarity in your goals will allow you to adjust the spending that is not helping you get there. Healthy eating

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is one of my priorities, so I meal plan each Sunday evening. My ritual of planning our family dinners, packing my lunch and making breakfast helps me meet that goal and the goal of not overspending on takeout. It also helps keep our grocery bill reasonable by limiting impulse purchases. Win, win, win!

What Are You Really Looking For? You may find that self-introspection helps with your prioritization process. But, again, this can also cause discomfort. One of the pieces of wisdom that my stepmom gave me is, “What you’re looking for is not in there.” Whether it’s the refrigerator, a box of new shoes or the latest and greatest gadget, it doesn’t contain the fulfillment we seek.

Many of us fill our lives with “stuff” when our soul needs nourishing. Psychologist Sonja Lyubomirsky discusses happiness setpoint in her research-based book “The How of Happiness.” In a nutshell, we experience temporary increases in happiness when “good things” happen, including raises, purchases, etc. However, we become acclimated to having those things and then need new stuff to make us happy again. If we spend money to get that temporary high, there will never be enough.

Money is very personal, and how we choose to spend it can be deeply connected to our sense of self. I encourage you to take a deep look that connection and see if it’s holding you back from attaining your goals.

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THE KIND OF PICKLE YOU WANT TO BE IN Two local women are trying to change the image of pickleball, one graphic tee at the time.

Lori “Lo” Bosch and Jodi “Jo” Wujkowski are best friends and business partners who started jojoandlo.com, providing pickleball apparel and accessories to fans near and far.

“We are obsessed with pickleball; and when we couldn’t find any apparel specifically for pickleball that we liked, we decided to design our own trendy apparel for pickleball players across the country,” said Bosch.

The two explained that “pickleball often isn’t taken seriously, so our promise to our customers is: no dancing pickles, no pickleballs with smiley faces and no fluorescent green.”

The two are sponsors and supporters of the new Patriarche Park Project, which expects to open late this coming summer.

“The Patriarche Park Pickleball Association is a 501(c)(3) nonprofit set up to support the efforts of the city of East Lansing to create 10 pickleball courts and one tennis court as part of a sports complex to serve the citizens of East Lansing and the Greater Lansing area,” said Gary Beaudoin, chair of the association.

“Pickleball is the fastest-growing sport in America,” said Sue Mills, association board member and fundraising chair. “It is easy to learn to play, is fun and it is a competitive as well as a social activity for all ages.”

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lifestyle / GOOD READS

‘THE POWER OF BROKE’ STARTING FROM THE BOTTOM CAN PROVIDE MOTIVATION

BY MARY GAJDA

Having a business is a dream for countless people. Many new business owners have gone all-in, spending every last dime to open their doors. But is starting your business from broke a recipe for success?

Daymond John, FUBU founder and a face that you may recognize from “Shark Tank,” said it absolutely can be.

John, in collaboration with Daniel Paisner, had an instant bestseller with the book “The Power of Broke: How Empty Pockets, a Tight Budget and a Hunger for Success Can Become Your Greatest Competitive Advantage.” Readers resonated with John’s sentiment that starting a business from broke forces entrepreneurs to be motivated by their passion and to think more imaginatively.

The book features a cast of real-life entrepreneurs, including a cleaning lady who built a cupcake empire on faith and her maxedout credit cards. She now has stores throughout the United States,

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one of the resulting franchises is right here in our region. You may recognize the name — Gigi’s Cupcakes.

The insights provided offer real moments of clarity and thoughtprovoking examples of entrepreneurs who became successful using their passion to break through in a sea of new business.

According to data from the U.S. Bureau of Labor Statistics, about 20% of U.S. small businesses fail during their first year of business.

That figure grows exponentially during the first five years. This can be because the entrepreneur was in the wrong market, because they failed to do the research and follow through for their business plan or because of deep financial loss beyond their control, much like what happened during the coronavirus pandemic, for example.

John’s book drives home the point that money isn’t the only driver in success. Many can indeed start from broke with enough moxie, planning, research, follow-through and a whole lot of hunger.

Cupcake, anyone?

Celebrating Our 40th Year

Saluting Women in Business “Entrepreneurship is a tool for economic freedom for me and for my children. The financial relief I was able to access with Capitol National Bank helped me in ways that I will always be grateful for.”

– Re’Shane L. Lonzo, CEO DRM International Learning Center

517 B U S I N E S S

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L I F E

SUBSCRIBE 517MAG.COM OR EMAIL PATRICK@M3GROUP.BIZ

“Capitol National Bank is an excellent community partner that understands the value of relationships. Our banking team at Capitol National is experienced, reliable, and cares about their customers.”

– Megan Doherty, President

FD Hayes Electric Co.

“It’s an incredible experience when you work with a bank that truly believes in you, your business, and your dreams.

During my recent purchase of the future home of Becky Beauchine Kulka Diamonds and Fine Jewelry, Capitol National Bank went above and beyond, understanding the urgency required and showing that they cared as much about making this dream a reality as I did. I can’t thank them enough or recommend them more highly!”

– Becky Beauchine Kulka Becky Beauchine Kulka Diamonds and Fine Jewelry

Downtown Lansing • Okemos WWW.CAPITOLNATIONAL.COM

lifestyle / RECIPE • Eggs • Breakfast meat (bacon, ham or sausage)

• Cheddar cheese • Onion • Frozen tater tots • Green pepper • Red pepper • Milk or cream

TATER TOT BREAKFAST CASSEROLE

BY JILL DAVY

If you are like me, you often wake up on a weekend wishing there was breakfast casserole but have no bread, and furthermore, most bread-based breakfast casseroles like to soak up in the refrigerator overnight.

Starting with frozen tater tots, this breakfast casserole is easy to mix and put in the oven. It makes enough for a small army, and one of our favorite things to do with leftovers is to transform it into breakfast burritos that heat quickly from the freezer on a busy weekday morning.

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INGREDIENTS:

• •

32-ounce bag frozen tater tots

• • • •

1 medium onion, diced

• • •

Approximately 1 pound of your favorite breakfast meat(s), diced and cooked 1 red pepper, diced 1 green pepper, diced 2 cups shredded cheddar cheese 10 eggs 1 ½ cups milk or cream Salt and pepper

In a medium skillet, sauté your veggies for 3-5 minutes, until the onions are translucent, in a small amount of olive oil or butter. In a large mixing bowl, toss together the tots, meat, veggies and cheese.

Place the mixture in a greased 9-by13-inch cake pan or casserole dish with deep sides. Whisk together the eggs and milk, season with salt and pepper to taste. Slowly pour the eggs over the tater tot mixture. Bake at 350 degrees for approximately 1 hour. The top of the casserole will look golden. Insert a butter knife in the middle of the casserole to check if the eggs are fully set.

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lifestyle / HOME HELPERS As spring emerges, we often find ourselves coming out of our own hibernation. It starts with spring cleaning and often leads to wanting to renovate, repair or reimagine a room or rooms in our homes.

Changing things up takes money, so it’s a good time for a gentle reminder to ask ourselves some questions before we break open our wallets. By doing this, we can save a bit of coin.

IS IT AN EMERGENCY? The supply-and-demand issues we’re currently facing have raised costs of everything from wood to furniture and appliances. Ask yourself: Can this repair or renovation wait? If you can be patient, things will settle down and prices will fall to a reasonable level again.

IS THIS A WANT OR A NEED? Do you want to replace your kitchen countertop, or do you need to? Do you really need a new garage door, or are you just wanting to freshen up your curb appeal? There’s nothing wrong with either; however, by identifying wants vs. needs, you can put yourself in the right budget mindset. Call it a personal checks and balances.

DO YOU NEED NEW? With costs up as previously mentioned, you may want to consider opening a door you may have turned your nose up to in the past — purchasing refurbished, gentlyused items. Whether you are using Facebook Marketplace or shopping at a store like the Habitat for Humanity ReStore, Dicker & Deal or local estate sales, you can find nearly anything you need for basic home renovations. You can find some incredible deals and save a lot of money by doing a little bargain shopping.

FRUGAL FACELIFTS 5 WAYS TO SAVE MONEY AROUND THE HOME BY 517 STAFF

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CAN YOU DO IT YOURSELF? Learning to DIY your home renovations can save you a lot of time and money.

It can also be a big confidence boost.

There is a wealth of tutorials available online. Box stores like Home Depot often offer DIY classes. It’s worth a call to see if there’s one coming up that interests you.

IS SWEAT EQUITY AN OPTION? Can you talk to your handyperson about helping with a job by way of sweat equity? Oftentimes, if you can do prep and clean up, you may be able to save. You never know until you try.

GROWING YOUR BUSINESS TOGETHER That’s Business Elevated.

Let’s get there together.

Cheryl Bartholic

Craig Bull

Commercial Loan Group Manager Commercial Lender 517.324.7403 517.324.7415 CBartholic@ibcp.com CBull@ibcp.com

Dave Flower

Chelsey Carpenter

Senior Commercial Lender 517.324.7407 DFlower@ibcp.com

Treasury Management Rep 517.324.7496 CCarpenter@ibcp.com

Phil Clacko Commercial Lender 517.324.7406 PClacko@ibcp.com IndependentBank.com

Call me today at 517.253.8563 With 21 years of experience serving successful women and their families in the Lansing area, Stephanie uses her comprehensive approach to financial planning to provide advice for women who want to be empowered and informed as they make complex decisions about their future.

for a complimentary initial consultation.

As the only Certified Divorce Financial Analyst® (CDFA®) in Lansing*, she believes that freedom and independence are core values of successful women, regardless of marital status.

Stephanie Milosavlevski

CFP®, CDFA® Financial Advisor 2139 Commons Parkway Okemos, MI 48864 • 517.253.8563 stephanie.j.milosavlevski@ampf.com ameripriseadvisors.com /stephanie.j.milosavlevski *Source: Institute for Divorce Financial Analysts (IDFATM). Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP (with plaque design) in the U.S. The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations. Ameriprise Financial Services, LLC, Member FINRA and SIPC. Not Federally Insured | No Financial Institution Guarantee | May Lose Value © 2021 Ameriprise Financial, Inc., All rights reserved. 3711737ACMR0821

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lifestyle / BEST OF...

best of

FINANCIAL MATTERS BY 517 STAFF

Grace Braatz-Opper

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In our financial literacy-themed issue, 517 Magazine spoke with several banks, companies and institutions for useful information on a variety of topics. There are so many in the region, we couldn’t fit them all in. So, as we do with each issue, we polled our readers with this question/statement: “Do you have a financial planner or wealth adviser/manager helping you achieve your financial goals? Are they doing a great job? Here is your chance to give them a shoutout.”

Our readers have spoken.

Among those mentioned and receiving high marks were Washington Avenue Advisors, Edward Jones, Nick Nauta/Shotwell Rutter Baer Financial Planners, Park Lake Advisors and Rehmann, to name a few.

But one name did stand out in our April poll.

Financial representative Grace Braatz-Opper of Modern Woodman was lauded as being “super knowledgeable” and came highly recommended, with readers stating she put their best interests at heart.

She was also referred to as caring and community minded. 517 Magazine reached out to Braatz-Opper to ask what she loves most about her role.

“What I love most about being a financial adviser is helping make my clients’ dreams a reality,” she said. “There is nothing more rewarding than meeting with someone for the first time, gaining their trust and working together to achieve their financial goals.”

We also asked for comment on getting such a big response in our poll.

“I am incredibly thankful for the 517 community and am honored to serve them each and every day,” Braatz-Opper said. “There is no better feeling than residing in a community that is so supportive — especially in Old Town, where my office is located. I am proud to live and work in the 517.”

Missed seeing the people you work with in our poll results? It doesn’t mean they aren’t fantastic — it just means you need to chime in on our polls to make your voice heard. See our polls for future issues at 517mag.com/517-polls/.

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Let’s protect your business from check fraud.

Mercantile Bank wants to help protect you and your business. That’s why we offer services that can detect fraudulent activity and help protect your business from the unexpected. To learn more about our full range of fraud protection services call our team or visit us online and let’s get you protected.

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AN EVENING OF BUILDING BRIGHTER FUTURES FOR MICHIGAN’S KIDS The 20th annual Pam Posthumus Signature Auction Event

MAY 17, 2022

MSU BRESLIN CENTER EAST LANSING

5:00 P.M.

EMPOWERING MICHIGAN’S KIDS STARTS WITH ALL OF US. Join the Children’s Trust Fund for an evening that will brighten the futures of children throughout Michigan. Enjoy great music, sparkling conversation, cocktails, hors d’oeuvres and lively bidding on a wide range of premium auction items.

YOUR ACTIONS TODAY BRING HOPE FOR TOMORROW To purchase tickets, pre-register, and preview live and silent auction items, visit https://ctfauction.cbo.io

FEATURE

MONEY MASTERS WE ASKED LOCAL EXPERTS FOR THEIR THOUGHTS ON FINANCIAL ADVICE BY 517 STAFF

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FINANCIAL MATTERS CAN BE COMPLEX AND CONFUSING. THE SAME WAY YOU PLACE YOUR TRUST IN THE HANDS OF MEDICAL PROFESSIONALS INSTEAD OF TURNING TO GOOGLE TO FIND OUT HOW TO PERFORM A HOME APPENDECTOMY, IT’S IMPORTANT TO HAVE SOMEONE YOU TRUST WHO HAS KNOWLEDGE AND EXPERTISE IN MONEY MATTERS IN YOUR CORNER TO HELP GUIDE YOU TO A MORE FINANCIALLY SECURE FUTURE. WE ASKED SEVERAL EXPERTS FROM THROUGHOUT THE REGION FOR THEIR THOUGHTS ON SOME BASIC FINANCIAL QUESTIONS.

DANIELLE ROBINSON ASSISTANT VICE PRESIDENT OF CORPORATE PHILANTHROPY, JACKSON

WHAT IS YOUR BEST ADVICE FOR PLANNING FOR RETIREMENT? Start today.

Wherever you are in life’s journey, it is never too early to take action to support your financial future. It’s important to talk openly with kids about money — our financial behaviors and attitudes are formed in childhood, so that’s why the Jackson Charitable Foundation provides free financial education to more than 1.5 million students across the country each year.

As you begin making adult financial choices, talk with someone you trust. Money decisions are incredibly personal, and obtaining help to better align those decisions to your values and goals will be time well spent.

TIM SALISBURY

REGIONAL PRESIDENT FOR MID-MICHIGAN, PNC BANK

WHY SHOULD PEOPLE HAVE MORE THAN ONE BANK ACCOUNT? Having more than one bank account makes it easier for people to use their accounts for different purposes.

For example, PNC Virtual Wallet is a financial tool that includes a checking account called Spend for everyday purchases; a second checking account called Reserve, which is useful for setting money aside for upcoming expenses; and Growth, a savings account with a competitive rate to save for the future.

GREG ADKINS

FIRST VICE PRESIDENT AND COMMERCIAL LENDING OFFICER, MERCANTILE BANK

HOW IS THE CREDITWORTHINESS OF A BUSINESS DETERMINED? One of the first things we do when talking with a customer or prospective customer is listen.

Every business is different and getting to know their needs is key to developing a comprehensive banking and lending plan. It’s not a onesize-fits-all approach; it’s more relationship driven. There are, of course, guidelines that most financial institutions focus on when working with a business, and questions regarding cash flow management, collateral and market conditions are sure to be a part of the process.

We are committed to partnering with businesses and entrepreneurs to empower them to do what they do best, which is run their company. It’s our job to provide them with the tools they need to be successful. It’s that level of service and unique approach to addressing the needs of our customers that sets us apart.

FEATURE

PATRICIA BARNAS

MARKET PRESIDENT, FIRST NATIONAL BANK OF MICHIGAN

HOW IS A CREDIT SCORE CALCULATED? Access to capital is a primary ingredient for a successful small business.

For your bank to consider a loan, you would provide copies of the last three years’ federal tax returns for anyone owning 20% or more of the business along with a personal financial statement, three years of the business entity federal returns, and an interim balance sheet and income statement.

If your business is a startup, you would need to provide your business plan.

Your personal credit score is an important piece to access capital. Your score is determined by credit history, credit usage, total balances, available credit and the number of times a credit report is pulled. Take steps now to have capital in place when you need it.

DEIDRE J. DAVIS

CHIEF MARKETING OFFICER, MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION

WHAT IS YOUR BEST ADVICE TO GET OUT OF DEBT? Begin by making a list of who and how much you owe. After that, make a payoff plan. The snowball and avalanche methods are both good ways to pay off multiple debts.

Snowball: Look at your list of debts and find the one with the lowest balance. Pay as much as possible above the minimum due on that smallest debt and continue paying the minimum on the other debts. Once you pay off the smallest balance, move to the next debt (now the smallest balance) and keep going until you pay off all your debt Avalanche: Instead of starting with the smallest balance, pay off the loan with the highest interest rate first, then tackle the loan with the next highest interest rate and so on. With this method, you won’t necessarily get the “quick wins;” but as you pay off debt, you’ll be paying less and less interest.

NICOLE NYBOERHALLIWILL

JOE PICHLA

WHEN SHOULD PEOPLE START THINKING ABOUT RETIREMENT SAVINGS AND WHY? When should you save for retirement? The sooner the better.

The later you start saving for retirement, the more you’ll need to save on a monthly basis. For example, the monthly investment required to get to $1 million by age 65 is $405 per month if you started investing at age 25. This increases dramatically at age 40 to $1,277 per month, and even more so if you start saving at age 50 requiring a monthly savings of $3,214. The longer you wait to save, the more you miss out on the power of compounding.

You can use the power of time by adjusting how long you save. You can use the power of money by controlling how much you save. With the power of return, you manage your investment mix to control your return potential or how much you earn.

WHAT ARE THE BENEFITS OF A MONEY MARKET ACCOUNT? Commercial banks and credit unions are permitted to offer money market accounts to their customers.

While it is not a federally prescribed minimum balance, the normal minimum is $1,000.

Terms may vary from institution to institution, and the accounts may only have a total of six transactions per month. These accounts are not intended to be used for regular transactions but as a place to keep excess cash balances.

Money markets include many benefits, including a typically higher interest rate than passbook savings. Also, they carry FDIC (Federal Deposit Insurance Corp.) insurance, making them less risky than publicly traded money market funds.

FINANCIAL ADVISER, EDWARD JONES

COMMERCIAL RELATIONSHIP MANAGER, DART BANK

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lifestyle / JACK DAVIS LEGACY NONPROFIT SPOTLIGHT

SANDCASTLE FOUNDATION BRINGING SUPPORT TO THOSE IN NEED

BY KYLE DOWLING

The Sandcastle Foundation is a nonprofit focused on support and advocacy of those in the foster care system. Whether they be the adoptee or families touched by the foster care system, they all need love, support, counseling and resources to thrive.

The Sandcastle Foundation also seeks to increase the awareness of the needs of children separated from their biological parents and increase the rate of reunification and family preservation.

“We are passionate about protecting the mental health of adoptees,” said Theresa Wood, executive director of the Sandcastle Foundation, “and reducing the rate of suicide among adoptees through advocacy, family education and most of all by listening to the adoptees.”

Through trainings and programs, the foundation helps to reduce the harm and trauma that a child experiences through familial separation — educating the kids and empowering them to help them be able to make their own voices be heard. The foundation also educates and trains people who are interested in becoming foster parents or adoptive parents.

“I started Sandcastle Foundation because I am an adult adoptee and former foster youth. I am also a transracial adoptee,” explained Wood. “Not every adoption is a happy and safe one, and

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not every child in foster care has a horror story. My story is one of the ‘good’ ones. I have a wonderful family that’s full of both adoptive and biological members, and yet I know my experience isn’t what everyone has seen.”

Wood sees the flaws in the current adoption system and the need for change. Adoptees are four times more likely to attempt suicide than those who are raised in biological families.

Over the last nine years, Wood and her team have been proud of the number of families they’ve kept away from the foster care system. When children are removed from their home and placed into the system, it is predominantly for reasons stemming from poverty. By being proactive and helping families address issues that arise from poverty, the Sandcastle Foundation helps keep families together and helps to reduce childhood and generational trauma within the community.

The Sandcastle Foundation is working to provide more statewide trainings for adults interested in fostering or adopting.

It is also creating a program to help facilitate safer and healthier reunification opportunities for adult adoptees looking to reconnect with biological family members.

For more information and to show your support, visit the Sandcastle Foundation at facebook.com/sandcastlefoundation/.

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lifestyle / PLAY

t ent a cont more G.COM A 517M

History Takes the Stage WHARTON CENTER PRESENTS: “HAMILTON” Through April 10 Catch the musical sensation, featuring a score that blends hip-hop, jazz, R&B and Broadway.

Lin-Manuel Miranda takes the story of one of America’s Founding Fathers and brings it to life on the stage. See the American Revolution in the spotlight at the Wharton Center for Performing Arts in East Lansing. Visit whartoncenter.com/ events/detail/hamilton for details.

THIS MONTH’S EVENTS Editor’s note: Please call event venues directly to make sure times and dates haven’t changed due to cancellations and postponements related to COVID-19.

Children’s Book Launch Party April 2 Attend the book launch party of Michigan author Cindy William Schrauben for her new picture book, “This Could Be You.” This event at Impression 5 Science Center in Lansing is open to all ages. Science center admission applies. The event features games, crafts, a photo booth, book signing and prizes, as well as live readings at 11:30 a.m., 12:30 p.m. and 1:30 p.m. For details, visit impression5.org/home.

Hippity Hop 5K April 16 Join the Hippity Hop 5K at the Potter Park Zoo for the sixth annual event. All registered participants get a free entry into the zoo. The race will start and finish near the entrance to the zoo, running along the Lansing River Trail.

All proceeds are going to the Child Benefit Fund, assisting at-risk families in Ingham County. For details, visit runsignup.com/Race/MI/Lansing/ HippityHop5K.

Follow our friends at 517living.com for other upcoming events in the region.

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Vermontville Maple Syrup Festival April 22-24 The Vermontville Maple Syrup Festival is the original syrup festival in Michigan, starting in 1940. The festival includes carnival rides, a talent show, arts and crafts, a flea market, two parades, a petting zoo, a princess pageant, various displays, games, free entertainment, a pancake derby, and arm wrestling. Enjoy pancakes with real maple syrup offered by the Maple Valley Band Boosters and the American Legion. For details, visit syrupfest.org.

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2/7/22 9:15 AM

WRAP UP

FIVE FRUGAL FACTS Tips for Saving Money

BY KYLE DOWLING Building up savings not only provides you with a cushion of freedom for when you decide to make a purchase for your future wants, but it also gives you a safety net when the storm clouds begin to gather for the proverbial rainy day of the unexpected. The question for many, however, is where to begin. Here are five tips that can help give future savers their start.

EATING OUT IS MORE EXPENSIVE THAN YOU THINK Eating out is more expensive than eating at home. That’s why your mom always passed the McDonald’s on the way home. But with rising gas prices, it’s even more expensive.

Even delivery from pizza places or delivery apps hurts your wallet.

Be sure to try and buy groceries for the week instead.

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CHECK ON YOUR SUBSCRIPTIONS Sometimes we forget that subscription we made to Netflix or Amazon Prime, which could be a costly monthly expense or could sneak up on you with a yearly subscription that you weren’t expecting.

CHECK YOUR INSURANCE POLICY Check how much your insurance policy is and how much you’re paying per month.

Check around to see if you are getting the best price. Some policies also save you money if you pay in one lump sum, saving you some money in the long run.

LOOK OUT FOR DAILY PURCHASES Things like drinks or snacks can stack up when they’re bought constantly from convenience stores. Try to buy in bulk from the grocery store instead of from convenience stores.

AUTOMATIC SAVING Set your bank account to automatically add a set amount of your paycheck into your savings account every time, so you are less likely to use it for unnecessary purchases.

ACHIEVE growth and opportunity

Looking to expand or remodel as your business grows? MSUFCU’s Commercial Real Estate Loan is designed to help you purchase new commercial property, renovate income-producing properties, or refinance real estate.

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Contact our Business Services team today. msufcu.org/commercial I 517-333-2424, ext. 4848

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