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Is Borrowing Against Your 401(k) a Good Idea?
Authored By: Genisys Credit Union on 1/18/2017

Woman thinking about her 401k One of the perks that often comes with employment is a 401(k).  These tax-deferred retirement packages are the principal retirement vehicle for just over half of all people in the United States.

One feature you may not realize about 401(k) funds is that you may be able to borrow against the balance of the account. 

If you can, does that mean you should? 

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How Much Should You Spend On A Car?
Authored By: Genisys Credit Union on 1/11/2017

Girl and friends in a new car

In America, having a car is synonymous with having complete freedom—a car lets you go wherever you want, whenever you want.  If you can pay for it, that is.

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5 Financial New Year’s Resolutions To Kick-Start 2017
Authored By: Genisys Credit Union on 1/4/2017

New Year's Resolution imageGet more exercise.
Lose weight.
Quit smoking
.

These are the bold boasts of New Year’s resolutions. Folks commit themselves to radically changing their lives at the start of the calendar year.  About 45% of people make New Year’s resolutions in the average year, and most have to do with health.


But the same line of thinking can be taken in the context of your financial health. Let’s look at some of the most often made New Year’s resolutions and how to translate them into personal finance resolutions – and how to stick to them!

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Protecting Your Credit After A Missed Car Payment
Authored By: Genisys Credit Union on 12/28/2016

Frustrated man looking at his financesYou did not plan on it.  In fact, you worked to prevent yourself from ever being in this position.  One thing happened after another, and now you find that you may not be able to make your car payment.  What should you do?

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Good vs. Bad Debt - What You Need To Know
Authored By: Genisys Credit Union on 12/21/2016

Young woman frustrated with her financesFor many young adults, their first experience with debt comes when they need to consider loans to finance their education.

  • It is more expensive than ever to pay tuition. 
  • Textbook costs are eye-popping. 
  • Minimum-wage jobs that many students hold don’t provide enough income to meet expenses like they once did.

Young adults face the realities of debt much earlier than people did in the past.  Understand the difference between good debt and bad debt before taking on too much debt.

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New Homeowners: Watch Out for the Forgotten Expenses
Authored By: Genisys Credit Union on 12/14/2016

Young Couple moving into a new houseBuying your first home is a major milestone. There's nothing quite like the giddy rush that comes from knowing you could paint a wall fluorescent pink and no one could legally stop you.

Since you've just come up with a down payment, you might think your biggest hurdle of financial responsibility is over. However, that's not the case.

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