Pathfinder Magazine Volume 4

VOLUME 4 | 2019

The Holidays:

IN STYLE & ON A BUDGET READ NOW

SAVE THE PLANET

Be eco-friendly... and save money!

SCHOLARSHIPS

Navigating the financial process

$50 CHALLENGE

Can you survive on $50/week?

IHMVCU.org

IN THIS ISSUE PLAN Safe travel this winter Keep? Throw? Shred? Let’s sort it out

SAVE

BORROW Pros and cons: Borrowing from a friend Scholarship season

SPEND

Can you survive on $50 a day?

How couples spend & save

Saving the planet on a budget

The holidays: In style and on a budget Quiz: What kind of spender are you?

BRANCH LOCATIONS We’re here for you!

309-793-6200 800-722-0333 Federally Insured by NCUA. Equal Housing Opportunity. NMLS #463074

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BETTENDORF 2839 AAA Court | Bettendorf, IA 52722

MILAN 801 Tech Drive | Milan, IL 61264

DAVENPORT 2102 East Kimberly Road | Davenport, IA 52807 3646 West Kimberly Road | Davenport, IA 52806

MOLINE 4051 Avenue of the Cities | Moline, IL 61265 2101 52nd Avenue | Moline, IL 61265

DEWITT 1703 11th Street | DeWitt, IA 52742

ROCK ISLAND 4206 5th Avenue | Rock Island, IL 61201

EAST MOLINE 358 17th Avenue | East Moline, IL 61244

SILVIS 685 Avenue of the Cities | Silvis, IL 61282

GALESBURG 404 West Carl Sandburg Drive | Galesburg, IL 61401 KEWANEE 337 Tenney Street | Kewanee, IL 61443

Be in the know:

NEWS & UPDATES

600+

union tradespeople contributed to the construction

141,000 safe hours

logged by the construction team

7,600+

cubic yards of concrete delivered by 950 concrete trucks

BUILDING BETTER COMMUNITIES AND A BETTER FUTURE On April 17, 2018, IHMVCU broke ground on a new headquarters at 2500 River Drive in Moline.

Eighteen months later, that vision is now a reality. This 92,000 square-foot building spans four stories and accommodates up to 400 employees.

The multi-million-dollar project reinvested in the Quad Cities community by working with local businesses and employing more than 600 local union tradesmen and tradeswomen.

“It’s an honor to have Quad Citians work on this building, but it was extra special knowing many of them are IHMVCU members,” said IHMVCU President & CEO Brian Laufenberg.

The building will provide the much-needed space and infrastructure to support members on their financial journey. We plan to consolidate member support services that are currently spread throughout the Quad Cities. IHMVCU also hopes it becomes a central location for recruiting and retaining Quad Cities talent.

“The credit union philosophy is people helping people. For us, it’s more than helping people, it’s investing in the future of our members and the communities we serve,” Laufenberg said.

The official opening of the building will happen later this month, and a member celebration is scheduled for Summer 2020.

900+

tons of steel that’s 1.8 million pounds!

5,000+

sheets of drywall covering 35+ miles of metal studs

2,100+ gallons

of paint and primer

140+ miles

of wiring and network cabling

76,000 square feet

of carpet, tile and wood flooring

IHMVCU.org

ITM Agent Feature

REAL PEOPLE REAL CONNECTIONS Christopher |

COLONA, ILLINOIS

WE’RE YOUR NEIGHBORS AND YOUR FRIENDS! It’s hard to believe it’s been a year since we rolled out our interactive teller machines (ITMs) at our Rock Island Financial Center. While most of the feedback has been positive, we know some members are hesitant with the new technology.

The biggest feedback is the misconception that our video tellers are outsourced and work outside of the Quad Cities.

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We’re happy to inform members that our video tellers are real people who work and live in the Quad Cities. We’d like to introduce you to Christopher.

r e h p o t s i r Ch

ITM AGENT Q&A

HOW LONG HAVE YOU BEEN WITH IHMVCU? 2.5 years, plus another year of hands-on work experience at the Boys and Girls Club branch

WHERE DO YOU RESIDE IN THE QCA? Colona, Illinois

CELEBRITY CRUSHES?

MEMBER ADVANTAGES

MEET

FALL INTO FUN!

Round up the family and enjoy BOGO admission to Pride of the Wapsi in Iowa and Country Corner in Illinois.

Beyoncé and Cardi B

IF YOU COULD HAVE ANY SUPER POWER, WHAT WOULD IT BE? Teleportation

SAVINGS GOALS!

WHAT IS YOUR FAVORITE RESTAURANT IN THE QCA? China Café

WHAT’S YOUR FAVORITE THING ABOUT BEING AN ITM AGENT? Saving our members time in line, and the people I work with

Meet the rest of your ITM team at: IHMVCU.org/ITM

QC Storm BOGO tickets are back! Members get one free admission with the purchase of an admission.

FOR DETAILS, VISIT: IHMVCU.org/MemberDiscounts

IHMVCU.org

SAVE

Challenge

CAN YOU SURVIVE ON $50 A WEEK? Kelsey Stumpf

Have you ever thought about how much money you spend in any given week? Do you think it’s more than $50? Chances are you said yes. For some, $50 could be a tank of gas. We wanted to know if living off $50 for one work week was possible, so we put Arazi Love up to the challenge.

Before sending Arazi off with a crisp $50 bill, we laid some ground rules: 1. Budget all your expenses Monday-Friday with $50

Did Arazi make it on $50?

CLICK HERE to view the video!

2. $50 should cover food, gas, miscellaneous expenses (like toothpaste) and entertainment 3. No donations or I OWE YOUs 4. Document your journey 5. Have fun!

WE NOMINATE YOU TO COMPLETE THE $50 BUDGET CHALLENGE. Let us know how it goes by tagging us on Facebook and using #50BudgetChallenge.

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ASK US: QUESTIONS FROM OUR MEMBERS

ANSWER Lauren, Congratulations on the upcoming marriage! Bravo to you both for having this discussion before tying the knot. This is one of many important conversations couples need to have.

Honestly, there’s no right answer. What matters is that you come to a decision you’re both happy with. That said, you have a few options:

1. KEEP EVERYTHING SEPARATE You decide who pays what bills. This may be an even 50/50

QUESTION Hey IHMVCU, I’m getting married next May (yay!) and amidst all the wedding planning my fiancé and I have started discussing finances.

He wants us to join accounts but I’m a little hesitant. I like being able to spend money on things without having to report back about it to anyone. What should we do?

Lauren M.

split or determined by each of your salaries (if you make more money, then you pay more toward bills and vice versa). You just need to make sure you trust one another to budget your salaries appropriately to pay these bills and to pay them on time. But hey, you’re getting married so hopefully that trust is there.

2. A LITTLE SHARED, A LITTLE SEPARATE You can each have your own account for discretionary spending and then have joint accounts for paying bills and saving toward common goals. This gives you the peace of mind of buying your future hubby that new guitar he’s been eying without ruining the surprise, while also knowing you both have budgeted for regular expenses and savings.

3. JOIN EVERYTHING TOGETHER You have one checking account between the two of you that both of your salaries go into and all your expenses go out of.

This is likely the most transparent option since you both know exactly what’s going in and out of your accounts. You can have multiple joint checking and savings accounts to manage your money in a way that works for both of you.

No matter which direction you head, make sure you’re both on the same page. Be open about any debt you’re bringing in to the marriage, any dreams you want to save for and how you prioritize your finances. Best wishes on a happy future!

SUBMIT YOUR QUESTIONS TO MARKETING@IHMVCU.ORG

IHMVCU.org

SAVE

There I was — standing in the middle of a Walmart grocery aisle, second guessing my decision to buy my favorite shampoo brand for a smaller, packagefree bar with an “environmentally friendly” sticker at double the price.

It’s not every day that I find myself thinking twice about what products I pull off the grocery store shelves. Having been raised in a frugal household, the cheaper, less expensive option is always my go-to.

But after seeing the effects of climate change in the news and seeing the aftermath of the Mississippi River flood this past spring, I knew it was about time I did my part to protect our planet. This meant thinking twice about what products I was buying while also being conscious of my everyday shopping budget. And with brands introducing more eco-friendly options to the market every day, finding products that were organic but also used recycled packaging wasn’t exactly money saving-friendly.

The question was: How could I help the planet without breaking the bank? I decided to start with the bare necessities: Water. Clothing. Food.

The 3-step guide to

SAVING THE PLANET ON A BUDGET Chelsea Mentado

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STEP

1

Buy reusable containers On average, consumers drink water from 1 million plastic bottles every minute and 91% of those plastic bottles end up in landfills or our oceans. The easiest solution for me was to stop buying 24-packs of Aquafina and instead switch over to a 32-oz. BPA-free, stainless steel, reusable water bottle that I could fill up throughout my day. By frequently purchasing plastic water bottles, I was harming the environment and spending more money than I should have.

On average, we humans drink close to 64 ounces of water a day and with 12-oz. water bottles at my disposal, I was wasting four plastic water bottles a day. That’s 1,460 plastic bottles a year or $240 I was spending on water! With my new reusable bottle, I paid a one-time cost of $10. If you’re looking for a very simple change, reusable water bottles are not only the easiest way to save the planet, but it’ll also help you maintain a healthy lifestyle and save money in the long-run.

STEP

2

Be creative with your style choices — try thrifting!

The fashion industry is a billion-dollar industry with new trends and styles emerging every year. But with more than 60 percent of textile fibers produced with fossil fuels and 85% of unwanted apparel burned or added to landfills, it’s no question fashion is one of the major industries harming the environment.

So, the next time you’re at the mall buying new clothing items, consider thrift shopping instead. It’s a fun and unique way to mix and match new and old fashion pieces. Stores like Goodwill, Salvation Army and corner thrift shops stock gently used items, and sometimes you’ll even find new clothing with the price tag still on them! I began acting as my own fashionista and discovered a lot of unique clothing pieces that matched my style and didn’t stretch my wallet.

STEP

3

Resist the fast food craving I think everyone agrees: Food tastes so much better when you don’t have to prepare it yourself. But I knew it was time for an intervention when my car’s cup holders started piling up fast with plastic and Styrofoam cups. My last lifestyle change needed to be significant — and since I’m a big fan of grabbing food on-the-go, I thought cutting out my drivethru runs would reduce the amount of single-use plastic and Styrofoam I was using. Instead, I tried cooking meals at home.

By preparing meals at home and using a reusable tote to buy fruits and vegetables at the grocery store, I was not only saving a good chunk of change, but I was also reducing my meat intake to once a week. And the best part? I was no longer contributing to the large amounts of waste piling up at landfills. Even though it may be tempting after a long day of work to stop by the Mickey D’s drive-thru for those tasty, golden fries, think twice about all the materials and packaging used to serve you those fries. It may not be worth the $2 you spent. Plus, you could always use those dollars to buy a sack of potatoes and make your own fries at home.

Starting this new journey on becoming more environmentally conscious has changed my lifestyle completely. I eat healthier, I’m saving more money and I’m much happier knowing I’m doing my part to save the environment. Once you’ve tried these three small changes, challenge yourself to discover other ways you can live a more environmentally-friendly lifestyle. Try drinking beverages without a straw, recycling with R+D+T = G formula, or biking when you commute to work.

Small changes go a long way when you’re just starting off. You’ll begin to realize that each time you pull a product off a store shelf, you’ll be thinking of all the ways it could do harm to our earth. Just like me and my shampoo dilemma. And if you must know, I decided to go with the eco-friendly shampoo bar. I figured with all the money I was saving from just switching to a reusable water container, I could splurge on a nice shampoo bar that helped the environment and kept my hair healthy. Plus, it smelled nice too.

IHMVCU.org

BORROW

Pros & Cons

BORROWING FROM A FRIEND Kelly Hendershot

SADLY, MONEY DOESN’T GROW ON TREES. Since plucking bills of varying increments from a magical tree isn’t an option, have you thought about borrowing from a friend?

Most of us have probably been in a position where we’ve lost sleep very seriously considering this option. It’s an awkward conversation to have, but deep down you know that you have a friend who would be more than happy to loan you money. You’re tempted. You could certainly pay off [insert personally applicable item here] so much quicker. But should you ask?

There really is no black and white answer to that question. Here are some points to help you weigh your options.

THE PROS • You may not meet the requirements set by your financial

THE CONS • There is an inherent awkward factor, but is asking for money

institution to qualify for a loan. In this case, borrowing from a

going to mean the nail in the coffin of your friendship? Will

close friend is a convenient alternative.

you continually feel your friend holding the loan over your

• There’s a philosophy that asking for help is a gift you can give to others. If a friend truly has the financial means to give you a loan, it may increase his or her self-worth to assist.

• Unlike borrowing from a financial institution, there’s often no interest tied to a loan from a friend.

head until it’s paid off?

• What tax implications could your friend face by giving you the loan? Keep in mind that zero interest loans of $14,000 or more must be reported to the IRS as a gift.

• You run the risk of creating a bad habit of always going to friends for financial help. Soon, all your friends will be walking on eggshells wondering if they’re your next target.

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EVENTS & CLOSINGS

OCT

14 OCT

26 OCT

26 NOV

11 NOV

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Boundaries to Set

NOV

28

Closed All Day All IHMVCU branches closed for Columbus Day

9 a.m. – Noon Free Shred Day 2500 River Drive, Moline

7 p.m.

Bettendorf Halloween Parade

Closed All Day All IHMVCU branches closed for Veteran’s Day

2 p.m.

Galesburg Holiday Parade

Closed All Day All IHMVCU branches closed for Thanksgiving

• Pay your friend back in interest following the IRS Applicable Federal Rate, which protects your friend come tax time and lets them know they’re not being taken advantage of.

• Set up a repayment plan. Treat the loan as the business transaction that it is,

DEC

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with full details on how much you will pay back and in what frequencies. You’ll save your friend the unsettling task of having to ask you how he’ll be repaid.

• Try to repay your friend back early. Your future selves will appreciate the end of

DEC

25

the unspoken strain the loan has put on your relationship.

Maybe you don’t feel right about asking your friend for money after all. That’s okay,

DEC

too. You still need the money though

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Alternatives

JAN

• Ask another friend instead who may be in a more financially positive position to

1

Early Close – 1 p.m.

All IHMVCU branches close early for Christmas Eve

Closed All Day All IHMVCU branches closed for Christmas

Early Close – 1 p.m.

All IHMVCU branches close early for New Year’s Eve

Closed All Day All IHMVCU branches closed for New Year’s Day

lend you the money. However, you’ll want to consider all pros/cons previously mentioned to make sure substituting which friend to borrow from is really the

JAN

smart option.

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• Talk to your financial institution about a personal loan.

• Start a side hustle or two in order to earn extra cash fast. Who knows, maybe you have a skill your friends are willing to pay you to utilize.

FEB

17

Closed All Day All IHMVCU branches closed for Martin Luther King, Jr. Day

Closed All Day All IHMVCU branches closed for Presidents’ Day

IHMVCU.org

BORROW

Helpful tips

SCHOLARSHIP SEASON

Where to find scholarships and options for when scholarships aren’t enough.

Kelly Hendershot

Your education just may be one of the most important investments you’ll make.

Back to school time for seniors across the country means the official countdown to the end of high school has begun! For the more financially savvy and college bound seniors, it’s also scholarship season.

Or, you could be an ambitious new high school freshman already thinking about what’s next. It’s not too early to start a scholarship checklist to prepare for your scholarship season in three years.

Already in college? Maybe a non-traditional student returning to school? Not a problem. There are plenty of scholarship opportunities that apply beyond the parameter of “high school senior” eligibility requirements.

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ONLINE SEARCH

First, meet with your high school guidance counselor or college financial aid office. A personal conversation may unravel skills or

2

START APPLYING

Once you’ve determined you’re a good candidate, start applying!

interests that uncover a scholarship opportunity

Academic information

you may not have found otherwise. It’s part of

• Current school info, including name,

their job to be up-to-date on resources that aid

rank, expected graduation date

in the path to continued academia for students

• School transcripts

like you.

• Recommendation letter(s) • Academic info, such as GPA and AP or

Armed with the resources provided by your

honors courses taken

counselor, start a Google search. To help focus

• Six-digit school code (for high schools)

your online search, here are some reputable

• College choice(s)

scholarship sites to check out:

• Intended field of study

Fastweb.com

Financial information

Home to over 1.5 million scholarships and

• Parents’ income

over $3.4 billion in funding.

• FAFSA completion

CollegeBoard.org Be sure to fill out as many details as possible in your profile to improve your search results.

• Completed Student Aid Reports from completed FAFSA

Niche.com

Personal background information

Options to browse lists of scholarships

• Personal info, such as full legal name,

by category or be matched based on your

address, phone, date of birth, parents’

eligibility.

names and employment

Scholarships.com Updated on a daily basis and easy to browse by category. Also provides matches based on your completed profile.

• Email address • Resume or Curriculum Vitae

Miscellaneous • School activities, including extracurricular, clubs, organizations and sports • Community activities, including hours volunteered • Employment • Awards or honors received

IHMVCU.org

BORROW

3

HOW DO YOU STAND OUT?

4

I NEED MORE MONEY!

Scholarship funders aren’t looking for cookie

Scholarships are often merit-based, while

cutter applicants. They’ll also want to know how

an educational grant — usually disbursed by

you stand out — be prepared to submit awards

the government — is need-based. Common

or honors received.

examples are grants for minorities, low-income and disadvantaged students, those pursuing

Personal statement Outline your educational, career and personal goals.

Scholarship essays The dreaded scholarship essays! Be sure to tailor your essay(s) to align with your specific eligibility requirements that are met for said scholarship.

Portfolio A portfolio may be required, especially for scholarships based on the arts.

high-need fields, veterans and National Guard, students with disabilities and even foster care youth.

Research federal agencies • Start by educating yourself on the three types of federal student aid: • Grants • Work Studies • Loans

Research your state grant agencies • Your state grant agencies are great starters for local Quad Citians: • IowaCollegeAid.gov • Illinois Student Assistance Commission

Explore a part-time job or side hustle • It’ll be tempting to use this extra cash for

DID YOU KNOW?

fun but be diligent about setting money

IHMVCU offers $30,000 in scholarships

who can successfully juggle working

Awarded to local undergraduate, graduate and vocational/technical school students who stand out in the classroom and stand up in their communities!

Application period opens in January.

IHMVCU.org/scholarships

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aside to only be used for college. Those while going to school (without sacrificing grades) may find themselves in the happy position of owing nothing, or very little, after college.

PLAN

Helpful tips

SAFE TRAVEL THIS WINTER Melissa Brown

Winter in the Midwest can be severe and unpredictable. Traveling can be downright dangerous. Help yourself and your family by keeping an emergency winter kit in your vehicle. Keeping a well-stocked emergency kit can get you back on the road or make you more comfortable while you wait for assistance.

FULL TANK OF GAS

JUMPER CABLES

SCRAPER & BRUSH

CHARGERS

Try not to let it drop below a quarter of a tank.

Often times the only lifeline to kickstart your battery.

Carry both to make clearing snow easier.

Stay communicative with cell phone chargers or power banks.

VISIBILITY ITEMS

FOOD & CLOTHING

FIRST AID

DIG-OUT KIT

A flashlight, flares and reflective warning signs will aid in late-night emergencies.

Warm clothing, blankets, water and snacks will keep you comfortable while waiting for assistance.

Standard first aid kits are great, but don’t forget your special medications.

A portable shovel and bag of sand or kitty litter help when digging out a stuck vehicle.

IHMVCU.org

SPEND

HOW COUPLES SPEND & SAVE Amanda Spurgeon Managing money as a single person can be tedious, but when you add another person to the mix it can be downright complicated. Should you combine your accounts or keep funds separate? What do you do if you have wildly different spending habits? How do you agree on a budget and goals?

There’s no one “right” way to manage your money, but there are certainly ways you can

FEATURED

COUPLES

make it easier on everyone involved. To get an idea of some tried-and-true practices, I sought input from some seasoned co-budgeting couples to get their best advice.

Though our couples aren’t financial management experts, they do have enough experience to handle the ups and downs

BRYAN & SETH • Married for 3.5 years • Recently adopted a baby boy

of managing money as a couple with relative ease.

KATIE & JIM • Married for 13 years • Three kids ages 19, 10 and 8

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It’s okay to spend differently It’s naive to think that just because you share your life (and money) with someone you have to share the same habits and goals to keep things harmonious.

Sometimes, even though you’ve spent time setting up the perfect budget for the month, unexpected things come up.

Maybe it’s something serious like a call to a plumber, or something more fun like your favorite band making a tour stop in your town. The point is, how you handle a big expense can say a lot about how you manage money together.

BRYAN & SETH For Bryan and Seth, it’s about balance.

Bryan describes Seth’s spending as planned and intentional. “Rarely does he make impulse buys,” Bryan said.

Bryan on the other hand, is “fairly disciplined” according to Seth. “He doesn’t have expensive taste and his hobbies are cheap,” he explained.

When they had to tell me who spends more, they couldn’t decide. “It all evens out in the end,” Bryan said.

KATIE & JIM “I’d say we both like spending on online shopping or Amazon purchases,” Katie admitted. “We have a joint account that we allocate money to for expenses and savings. We each have a personal account as well — it allows each of us to have fun money.”

$10,000 can go a long way What would you do if you were handed $10,000, tax free, to spend with your spouse? The options are endless, but our couples managed to come up with pretty similar answers.

Communication is key When I started gathering information from these two couples, one theme was obvious: making it work requires frequent and consistent conversation. Both couples rely on team meetings to keep their

Both couples had ideas that fell into two

spending on track and work toward their

categories: home improvement, and

goals together.

saving/investing.

BRYAN & SETH Bryan was focused on a new home, while Seth had a multi-pronged approach to spending the money.

Bryan would make a down payment on a new house. “I’d split it into thirds,” explained Seth. “Savings/bills, home improvements and fun stuff/vacation.”

KATIE & JIM Katie had home improvement in mind, and Jim would distribute the money two ways. For Katie, she’d put it toward remodeling their kitchen, and Jim would spend some of it on a purchase for the family, then put the rest in savings.

BRYAN & SETH “Due to high expenses, we were almost forced to keep a budget,” Bryan said.

“We would have monthly meetings to go over our expenses — yes, twoperson meetings — and we had weekly benchmarks that we needed to hit to make everything work.”

KATIE & JIM “We have a business meeting biweekly to discuss upcoming bills, costs, schedules, projects and dreams/ goals,” Katie said. “This sets us up for success to make sure we’re in good communication with each other.”

IHMVCU.org

The holidays:

SPEND

IN STYLE & ON A BUDGET Jamie Miller

The holiday season is a wonderful time of year to spend with family and friends. But, let’s be honest … it’s also notoriously expensive. However, for you this year, ’tis the season to save.

Here are a few ways to enjoy your holiday in style — and without having to start a payment plan on December 26.

3 THE

TRAVEL

2 THE

POTLUCK

expensive proposition, but there are a few things you can do to minimize your cost.

First, consider taking a train or driving

It’s a big sacrifice, but sometimes going

home instead of flying. You’ll have to allow

home isn’t in the budget for the holidays.

for more travel time, but the cost is usually

If you decide to stay put this year, you’re

considerably less. If you drive, maybe a

likely not alone. Friendsgiving has become

few of your friends are heading the same

a huge trend as of late, so why can’t other

direction and can split the cost of gas. If

Before you spend a single dollar, decide

“Friendsday” parties be next? Regardless

a flight is in your future, book your travel

how much you can afford in total this

of what you celebrate or how, a potluck

about two months in advance or at the

holiday season. And by “total,” we mean

dinner with friends is always a good time,

very last minute. Anywhere in between

total: travel, food, gifts, entertainment—

and the cost is spread out among the

and you hit peak pricing. Keep your costs

the works. Once you’ve decided on a

attendees. As the host, you might incur a

down by using apps like Hopper to track

manageable and comprehensive number,

few more expenses, such as decorations

pricing, or websites like CheapOair to

go to the IHMVCU website and use our

or an extra dish or two, but it’s almost

compare airfare and flights. Fair warning:

budgeting spreadsheet to track your

guaranteed to be less than a plane ticket

if you decide to wait until the last minute,

spending and ensure you stick to your goal.

home (just don’t go overboard).

be sure to have a backup plan.

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Traveling during the holidays is an

THE

BUDGET

PATHFINDER

6 THE

GIFTS

4 THE EXTRA

BUDGET

5 THE

OUTFIT

It’s tempting to buy expensive gifts for the people you love, but they’re likely to be as happy with a heartfelt and less expensive gift — possibly even happier knowing you

Everyone wants to look nice for the

haven’t put yourself into debt just to get

holidays. It is possible to fit a new outfit

it. Offering to cook dinner or host a brunch

You made your budget, but it’s not quite

into your budget if you’re smart about

is a great way to save money and create

robust enough. Don’t worry! You’re

it. TJ Maxx and Marshalls often have

a meaningful experience for your friends.

planning ahead, and you can consider

name-brand clothing for less. Target and

Whether one at a time or as a group, the

taking on a second job. Many businesses

secondhand stores are treasure troves of

bonding is as important and fun as a gift. If

look for extra help around the holidays, but

hidden, adorable outfits waiting for you to

cooking isn’t your thing, a memory book for

it’s a matter of finding the right job for you.

find them. Be sure to check the sales rack

old friends costs as much as the prints and

Working at a retail store where you can

at each!

album. If you have a large family or a big

also buy your gifts often means discounts on purchases in addition to the money coming in.

Alternatively, renting clothes has also become a popular way to save money, though it’s a more female-centric industry

group of friends, the tried-and-true Secret Santa method is always a winner. If you want to go the more traditional route, be sure to check sales or take advantage of

Need something more flexible? Set up an

right now. Ann Taylor and Loft recently

Etsy shop. Coffee shops often pick up extra

launched rental platforms. Gwynnie Bee

help in the mornings and on the weekends,

is a great option for plus-size styles, and

and they might let you take a free cup

if you’re going more casual, American

to-go. You can also sell any unwanted

Eagle Style Drop is the way to go. Looking

No matter what holidays you’re celebrating

items. Take clothing to secondhand stores

for an even cheaper option? Raid your

over the next few months, the most

or sell them on sites, such as thredUp or

best friend’s closet. You never know what

important thing is family and friends. Try

Poshmark. LetGo, Craigslist and Ebay are

goodies you may find.

not to stress yourself or your budget over

great platforms to sell household items.

the dreaded Black Friday. If you are brave enough to enter the madness, the prices are hard to beat.

the latest Apple Watch or Chanel bag.

IHMVCU.org

SPEND

Surprise! You won the lottery.

After taxes, etc., you’re looking at an extra $5,000 in your pocket.

What now?

A

Spend, spend, spend! It’s basically free money, right? Now’s the perfect time to plan a big vacation or buy that fancy handbag you’ve been wanting.

B

You treat yourself to something special that you couldn’t normally afford, and put the rest in investments or savings.

C

You would never play the lottery, so this question doesn’t apply to you.

You went to Target for two very specific things, but when you get there you notice they’ve rolled out all new merchandise for the season. Can you leave without an impulse buy?

A

QUIZ: WHAT’S YOUR SPENDING PERSONALITY? Amanda Spurgeon

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B

C

You’ve never left Target without at least five extra things and a coffee to boot.

You browse the new stuff with an open mind, and maybe grab a couple cute things from the dollar bins at the front of the store, but your final transaction price isn’t much more than what you planned for.

You’ve got sale display blinders and impulse control like nobody’s business.

You came for Windex and toilet paper, and that’s all you’re leaving with.

Your phone-service provider just called. You’re eligible for an upgrade to the newest phone.

Your current phone still works, but you really love the new look and features of the latest model. What do you do?

A

B

C

You’re out for dinner and drinks with your friends. You ask for separate checks, but when the tab comes they say it can’t be split up.

How are you paying?

A

You take the upgrade! You like to have the latest and greatest, and your phone is no exception.

You take the time to find out how the upgrade will affect your monthly payment, and decide to save up and buy the new one with cash instead.

You opt-out. You have some other bigticket purchases on your mind and don’t want an increased payment to throw off your saving momentum.

B

C

The pantry and fridge are sparse — it’s time to head to the grocery store. Which sounds more like you?

A

B

C

I buy whatever sounds good and plan my meals as I go. I usually eat everything I buy, but sometimes my eyes are bigger than my stomach and I have to throw stuff out before I get a chance to eat it.

I make a list before I go, and try to stick to the store brands to save some money.

Sometimes I splurge and buy the fancy peanut butter or a treat that wasn’t on the list.

I always go to the store with the best prices and only buy exactly what I’ll eat for the week. I’ve been known to hold up the line while I make sure I have all the right coupons.

You just pick up the tab — it’s easier than doing the math and tracking down cash from everyone. Plus, someone’s bound to buy you a drink or a meal later anyway, so it all evens out.

You’re short on cash, so you put the whole thing on your credit card and ask people to give you cash or Venmo you. You include the tip and follow up with anyone who forgot to send a payment the next day.

You do the math and figure out exactly what you owe. You put your cash on the table and avoid eye contact when the group asks whose card it should go on.

You have goals, and you’re not going to mess them up because someone forgets to pay you back.

It’s your best friend’s birthday next week. What are you giving them?

A

B

C

You’re kind of broke right now, so you pick out something you know they’ll love and put it on your credit card. You’ll figure out how to pay it off later.

Money is tight, so you invite them out for coffee or a cocktail. It’s more about spending time together than giving an expensive gift, right?

You’ve had a line item in your budget for a few months and have slowly been saving to buy them something they’ll like.

Answers

Mostly A’s

IMPULSE SHOPPER You tend to leave the grocery store with more than what was on your list, and you’ve been known to blackout in Target and leave with a cart full of stuff. You see it, you want it, you buy it— even if you can’t afford it.

If your impulsive ways are causing you financial trouble, it’s time to seek out an easy-to-manage budgeting app to help keep you on track.

Mostly B’s

BALANCED BUYER You keep a flexible budget and aren’t afraid to splurge every once in a while.

Your savings could use some improvement, but you’re not too far off from reaching your goals.

Try adding a line in your budget for those once-in-a-while expenses that always seem to catch you off guard and contribute a couple dollars every month.

Mostly C’s

STRICT SPENDER You live and die by your budget. You always save before you spend and you don’t take risks or make unplanned purchases. You’re on track to meet your goals, but are you having any fun?

A good budget is flexible, so make sure you’ve built in some opportunities to be impulsive.

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PLAN

KEEP? THROW? SHRED? LET’S SORT IT OUT. Melissa Brown

Those piles of paper can be a real pain, and managing a home filing system can be a drag. However, before you start pitching and shredding, it’s important to know what to hang

DON’T MISS-OUT

FREE SHRED DAY!

on to and what’s okay to toss in the shredder.

Just how long do you need to keep your taxes, receipts, bank statements and other important documents? Each type of document is different so you’ll want to be sure to keep all paperwork

Saturday, October 26 2500 River Drive, Moline 9 a.m – 12 p.m.

21

PATHFINDER

long enough before you fire up the shredder, even if you think you’re done with them.

Documents to keep

FOREVER

Documents to keep

FOR A WHILE

Documents to

SHRED

A number of documents shouldn’t be

While it’s important to keep track of all

When you’re done with these documents

thrown away or shredded — EVER. These

your documents, it’s not necessary to keep

and no longer need them, feel free to fire

are important papers you may need at

everything. You may need to reference certain

up the shredder.

any time in the future for a variety of

documents monthly or weekly for a while, but

reasons. It’s important to keep them in

then they just become another piece of paper

a safe place with a copy in a separate

lying around creating clutter.

Bank statements

The tricky part is knowing which types of records,

Birth certificate copies

and when, you can get rid of these. There’s no

Canceled and voided checks

location. This’ll save a lot of time when you need to access these documents.

Academic records: Diplomas, transcripts, etc.

Adoption papers Baptismal certificates Birth certificates Death certificates (may need for tax purposes) Driver’s licenses Marriage certificate Medical records Employment records: any clauses, agreements, etc.

Military records Passports Social Security cards Retirement and pension records Wills

good answer for everything, but see the table for recommended guidelines:

ATM receipts

Credit cards bills Credit reports

Bills One year for anything tax or warranty related; all other bills should be shred as soon as they have been paid.

Home Improvement receipts Keep until home is sold. investment records Seven years after you’ve closed account or sold the security Leases Keep until you’ve moved or received your deposit back from landlord.

Paycheck/Pay stub One year, or until you’ve received W-2 for that tax year.

Sales Receipts Keep for the life of warranty for major purchases such as appliances and electronics. For things such as groceries and clothing, only keep receipts until you know you won’t be returning item.

TAX DOCUMENTS Seven years, including filing and all accompanying documents such as W-2s and receipts.

VEHICLE RECORDS

Driver’s licenses (expired) Employment documents that have identifying info Expired passports and visas Investment, stock and property transactions Items with a signature (leases, contracts, etc.)

Legal documents Medical and dental records Papers with social security number Passwords or PIN numbers Pay stubs Pre-approved credit card applications Receipts with account numbers Tax forms Travel itineraries Transcripts with identifying information Investment account numbers Used airline tickets Utility bills (phone, gas, electric, water, Internet, etc.)

Keep until the vehicle (boat, motorcycle, etc.) is sold.

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