In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.
Home ownership is incredibly rewarding, both financially and personally. Building equity in your home puts you on the path towards a sound financial future, while pride of ownership can be immensely gratifying. Now that spring is arriving, a lot of homeowners finally have a chance to begin planning a renovation or tackling a repair that was put on hold during winter’s harsh weather.
If you have lost pay, been laid off from work, or are working reduced hours, you may be struggling to cover food costs. Whether this is a new situation for you or a situation you have been in before, know that you are not alone and there are a number of free food resources available close to home. These programs are for ALL Vermonters and can help you and your family stay healthy and well-nourished through this emergency.
We've received a number of inquiries from our readers about the COVID-19 economic impact payments (aka stimulus payments) since we originally posted this blog. Within those inquiries, we’re noticing a few common myths that have arisen, so we decided to post a follow-up article to clear up some of these myths. If you haven’t read the original blog, make sure to take a look if you don’t find the answers to your questions below.
Rule Number 1: Don’t panic and breathe deeply COVID-19 has caused a lot of people to feel panic and fear about their financial situation and future. This panic and fear can lead to “poverty consciousness,” which is a set of beliefs that cause us to fear that we won’t have enough to survive. This mindset of fear doesn’t lead to good decisions. “So, how can I get past this?” you ask. Thoughtful reflection on the past and maintaining a sense of perspective for the larger picture will lead us through this episode.
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The Internal Revenue Service (IRS) has provided more information about the IRS stimulus payments they will distribute within the next three weeks, also referred to as Economic Impact Payments or COVID-relief checks. Those who filed their taxes in 2018 or 2019 do not have to do anything to receive their check. There are a lot of details to this stimulus package, so we've compiled everything you need to know, including when you can expect to receive your stimulus.
As Vermonters hunker down to stop the spread of COVID-19 and lessen the burden on our healthcare system, we all have to adjust to this strange new normal. With the Governor’s "stay home, stay safe" order, all non-essential businesses have closed their doors, and most events have been canceled or postponed indefinitely. Thankfully, many businesses have modified their services to be accessible remotely. Vermont musicians are turning to livestream platforms to replace the concerts they would have previously headlined. Yoga studios are using video conferencing software to continue holding classes. Online delivery services from big and small companies alike are ramping up their shipping capability to serve the ever-increasing demand for online orders. Even grocery delivery has been made possible across Vermont.
I sat down with our CFO and senior vice president of finance, Terence Field, to discuss how to keep you and your money safe during the coronavirus (COVID-19). With so much going on right now, it was wonderful to have an engaging conversation with Terry about everything we are doing to keep our staff and members safe. This was streamed live on Facebook on March 18.
As a finance professional, I am frequently asked “what is going to happen to interest rates?” The obvious answer is that interest rates are going to go up and they are going to go down. I just don’t know when they are going to go up or down. If I did, I would be a much wealthier person. The reality is that no one can accurately predict the direction of interest rates.