Abigail Sexton, Author at High Point FCU

Summer is a season filled with opportunities to make memories. From family vacations and backyard barbecues to festivals, sporting events, and weekend getaways, the warmer months often bring extra spending along with extra fun.

The good news? Enjoying summer doesn’t have to mean putting your finances on hold. With a little planning, you can make the most of the season while keeping your budget on track.

Create a Summer Spending Plan

Before summer activities start filling your calendar, take a look at your finances and determine how much you can comfortably spend. Consider setting aside money for:

Travel and lodging
Entertainment and events
Dining out
Children’s activities and camps
Home improvement projects

Having a dedicated summer budget can help you enjoy seasonal activities without relying on credit cards or dipping into emergency savings.

Look for Low-Cost Local Fun

You don’t need an expensive vacation to create lasting memories. Many communities offer affordable or free summer activities, such as:

Outdoor concerts
Community festivals
Farmers markets
Hiking trails and parks
Local sporting events
Public beaches and pools

Exploring your own community can be both budget-friendly and surprisingly rewarding.

Make the Most of Seasonal Savings

Summer can be a great time to save money on everyday expenses. Fresh produce is often more affordable when purchased in season, and outdoor activities can provide low-cost entertainment for the whole family.

Consider planning picnics, cookouts, or neighborhood gatherings instead of more expensive outings. Small changes can add up over the course of the season.

Don’t Forget About Future Goals

While it’s important to enjoy the present, summer is also a good reminder to stay focused on long-term financial goals. Continue contributing to savings accounts, retirement funds, or other financial priorities whenever possible.

A balanced approach allows you to enjoy today’s experiences while preparing for tomorrow’s opportunities.

Take Advantage of Financial Check-Ins

Midyear is the perfect time to review your financial progress. Ask yourself:

Am I staying within my budget?
Have my financial goals changed?
Is my emergency fund where I want it to be?
Are there opportunities to save more?

Even a quick financial check-in can help keep you on track for the rest of the year.

Enjoy the Season

Summer is meant to be enjoyed. By planning ahead and making intentional spending decisions, you can create memorable experiences without financial stress.

At High Point FCU, we’re committed to helping our members achieve their financial goals in every season. Whether you’re saving for a future vacation, building an emergency fund, or planning for life’s next chapter, we’re here to help.

High Point Federal Credit Union Awards Scholarships to Collegebound Seniors.

Olean, NY – High Point Federal Credit Union has granted $2,000 in college scholarships to four high school seniors to assist them in funding their higher education.

The recipients, who are members of High Point FCU, were selected based on their exceptional academic and extracurricular accomplishments.

Richard Yeager, President & CEO, said that presenting these scholarships each year is a meaningful opportunity to celebrate the ambition and accomplishments of local students. He shared that helping them take the next step toward their goals reflects the credit union’s belief in “people helping people,” and shows how supporting education can make a lasting difference in the community.

The high school seniors who were honored with the scholarships include Robert Childs and Brett Bergstrom from Hinsdale High School, Maggie McGraw from Cuba Rushford High School and Ali Haynes from Portville High School.

High Point FCU is the second largest credit union in Western New York, with assets over $400 million. The credit union currently serves over 21,000 members with five locations, 1201 Wayne Street in Olean, 180 West Main Street in Allegany, 160 S. Main Street in Portville, 1035 East Main Street in Bradford, and 100 Fair Oak Street in Little Valley.

Planning a Summer Getaway? Watch Out for Vacation Rental Scams

Summer is here, and for many of us, that means it’s time to start planning a getaway. Unfortunately, it’s also a busy season for scammers, especially when it comes to vacation rentals.

One of the most common scams we see this time of year involves fake rental listings that can look surprisingly real.

Here’s how it usually works:
A scammer posts a vacation home online using photos and details copied from a real listing. The price is often a great deal, most times too good to pass up. When you reach out, they’ll push you to book quickly, saying dates are filling up fast.

Then comes the catch: they ask you to send payment outside of the website, often through a wire transfer or payment app. Once the money is sent, the listing disappears, and so do they.

A few red flags to keep in mind:

The price seems unusually low for the area
You’re asked to pay outside the booking site
The listing has few or no reviews
The person won’t answer questions or seems rushed
The photos look perfect but feel generic

Simple ways to protect yourself:

Stick with well-known booking platforms and use their payment systems
Be cautious of anyone asking for payment through wire transfers, gift cards, or unfamiliar apps
Do a quick online search of the property address or photos
Take your time, scammers rely on urgency

We’re here if you need us
If something doesn’t feel right, trust your instincts. And if you think you may have sent money to a scammer, reach out to High Point FCU right away. The sooner we know, the more we can do to help.

We want all our members to enjoy a safe, stress-free summer, where the only surprise is how relaxing your vacation is.

April is Credit Union Youth Month

April is Credit Union Youth Month: Help Your Kids Build Smart Money Habits

Hey parents, we get it, teaching kids about money can feel overwhelming. Between digital payments, mobile banking, and cashless transactions, kids don’t always see money change hands like we did growing up. But that doesn’t mean they can’t learn how to be smart with their finances! April is Credit Union Youth Month, and it’s the perfect time to start building good money habits with your kids. Here are some easy, everyday ways to help them understand the value of money – while keeping it fun!

Let Them Earn It

Kids learn best by doing. Give them opportunities to earn their own money—whether it’s through chores, helping a neighbor, or even a small family business like selling lemonade. When they work for their money, they start to understand its value.

Set Savings Goals

Help your child pick something they want to save for—a toy, a game, or a special outing. Teach them to track their progress by writing down how much they have and how much they need. Want to take it a step further? Open a savings account at High Point FCU so they can watch their balance grow!

Make Counting Money Hands-On

If your child is younger, let them practice with real coins and bills to build counting skills. For older kids, show them a digital bank statement so they can see how money moves in and out of an account. Connecting the dots between spending and saving is a huge step toward financial responsibility.

Teach the Power of Giving

Encourage kids to set aside a small portion of their money for giving back, whether it’s donating to a cause they care about or buying a gift for someone else. This builds generosity and helps them see money as a tool for good.

Start Their Financial Journey with a Credit Union Savings and Checking Account!

The best way to teach kids about money? Give them their own account! Opening an Adventure One Youth checking account and/or a youth savings account at High Point FCU is an easy way to help them learn the basics of saving, spending, and even earning interest. Plus, credit unions are all about people helping people, so you know they’ll be in good hands!

This Youth Month, let’s set our kids up for a lifetime of smart money choices. Visit High Point FCU to open an account today! 🚀

Riley named to High Point FCU’s Board of Directors

High Point Federal Credit Union is proud to announce the appointment of Laura Riley to its Board of Directors, reinforcing the organization’s commitment to strong leadership and a community-focused mission.

Laura brings extensive experience in the financial needs of the community having been a member of the Cattaraugus County Employees FCU board for over 14 years. She is a graduate of Salamanca High School and St. Bonaventure University. Laura previously held positions for the City of Salamanca Comptroller’s office and the Cattaraugus County Treasurers Office, leading to over 30 years of experience working for city and county governments.

Laura also volunteers at the Little Valley American Legion and is passionate in supporting and participating in the annual Ride for Roswell. After retiring in 2025, she looks forward to spending more time with family, friends and her grandchildren.

“Adding Laura to our Board strengthens our ability to serve our members and advance our mission,” said Rich Yeager, President & CEO. “Her insight and leadership will play an important role as we continue to evolve and grow.”

As a board member, Riley will collaborate with fellow directors and leadership to provide oversight, shape strategy, and support the credit union’s long-term growth and stability.

High Point Federal Credit Union, the second-largest credit union in Western New York, has assets exceeding $400 million and serves more than 22,000 members across four branch locations in New York, including 1201 Wayne Street in Olean, 180 West Main Street in Allegany, 160 South Main Street in Portville, and 100 Fair Oak Street in Little Valley, and one branch location in Pennsylvania at 1035 East Main Street in Bradford.

Romance Scams: When Trust Is Used Against You

At High Point FCU, we care about more than finances, we care about the people behind the accounts. One type of fraud we see often is romance scams, and they can be especially difficult because they prey on trust, connection, and emotions.

Romance scams typically begin online through dating websites, social media, or messaging apps. A scammer builds a relationship over time, gaining confidence and trust before eventually asking for money or financial help.

Common Signs of a Romance Scam

Be cautious if someone you’ve met online:

Quickly expresses strong feelings or pushes for a serious relationship early on,
Avoids meeting in person or always has an excuse for why they can’t video chat,
Claims to be working overseas, in the military, or dealing with an emergency,
Asks for money, gift cards, wire transfers, cryptocurrency, or access to your accounts,
Encourages secrecy or asks you not to talk to family, friends, or your credit union.

Scammers often create urgent or emotional situations, medical emergencies, travel problems, or investment opportunities to pressure you into sending money.

How to Protect Yourself

Never send money, gift cards, or cryptocurrency to someone you haven’t met in person.
Be cautious about sharing personal or financial information online.
Talk with a trusted friend, family member, or your credit union if something feels off.
Remember: once money is sent, it can be very difficult, or impossible, to recover.

Tax Season Is Here: How to Protect Yourself and Get the Most from Your Return

Tax season can be stressful enough without worrying about scams, identity theft, or costly mistakes. Unfortunately, fraudsters know this and they often target people during tax time. As your trusted financial institution, we want to help you stay informed, protected, and confident while filing your taxes.

Below are some key tax season tips and common scams to watch out for, so you can focus on what really matters.

Watch Out for These Common Tax Scams

Scammers often pretend to be legitimate organizations to trick people into sharing personal or financial information. Be especially cautious of:

1. Fake IRS Messages
The IRS will never contact you via text, email, or social media asking for personal information or payment. If you receive a message claiming to be from the IRS, it’s likely a scam.

2. “Urgent” Payment Requests
Scammers may threaten arrest, lawsuits, or wage garnishment if you don’t pay immediately. These pressure tactics are a major red flag.

3. Tax Preparer Fraud
Be cautious of preparers who:

Promise unusually large refunds
Charge fees based on refund size
Refuse to sign your return

Always choose a reputable, credentialed tax professional or use trusted tax software.

4. Identity Theft Refund Fraud
If someone files a tax return using your stolen Social Security number, they may receive your refund before you do. Filing early can help reduce this risk.

Helpful Tips for a Safer, Smoother Tax Season

✔ File Early – Filing as soon as you have your documents helps protect against identity theft.
✔ Use Strong Passwords – Especially for tax software, email, and financial accounts.
✔ Double-Check Links & Senders – Don’t click links or download attachments from unknown or suspicious sources.
✔ Keep Your Documents Secure – Store tax records and personal information in a safe place, both physically and digitally.
✔ Monitor Your Accounts – Regularly review your bank and credit card statements for unusual activity.

What to Do If You Think You’ve Been Targeted

If you believe you’ve received a scam message, or your information may be compromised:

Do not respond or click any links
Report the scam to the IRS and appropriate authorities
Contact your credit union immediately so we can help protect your accounts

We’re Here to Help

At High Point FCU, your financial well-being is our priority, especially during high-risk times like tax season. If you have questions, notice suspicious activity, or want tips on managing your refund wisely, our team is always here for you.

Have questions? Reach out or stop by any of our branches, we’re happy to help.

HIGH POINT FEDERAL CREDIT UNION ANNOUNCES PROMOTIONS

High Point Federal Credit Union (FCU) recently promoted two employees to Vice President roles.

Michelle Freeman has been promoted to Vice President of Finance. Michelle has been with High Point since 2011 and has advanced through roles of increasing responsibility within the Finance department. She most recently served as Finance Director, providing leadership over financial reporting, budgeting, and financial operations. Michelle holds a Bachelor’s degree in Accounting and a Master of Business Administration from St. Bonaventure University. She resides in Shinglehouse, PA, with her husband, Keith, and her daughter, Elizabeth.

Tamara Warner has been promoted to Vice President of Human Resources. She joined High Point in 2022 as Human Resources Director and brings more than 15 years of human resources experience. Tamara holds a Master’s degree in Human Resources Management from Nazareth College. In her new role, she will continue to lead human resources efforts that support the Credit Union’s long-term goals. Tamara resides in Portville, NY, with her husband, Ty, and two children, Adelyn and Jackson.

“Over the past several years, High Point has navigated significant growth, and Michelle and Tamara have played a key role in strengthening our Credit Union,” said Richard Yeager, CEO.

High Point FCU brings Bite of Reality to Olean High School

January 14^th, 2026 – Olean, NY. High Point Federal Credit Union staff shared their new Bite of Reality financial education program with Olean High School, with nearly 50 seniors participating. Bite of Reality is a modern, app-based simulation that gives students hands-on experience managing personal finances in real-world scenarios.

High Point FCU originally implemented the Mad City Money program in 2013, presenting it at Olean and Allegany high schools. Today, the Credit Union has transitioned to Bite of Reality, an updated version of the same concept delivered through an interactive mobile app. The program continues to provide students with a realistic look at adult financial responsibilities while leveraging technology to enhance engagement and accessibility.

Through Bite of Reality, students begin by selecting an assigned “identity,” which includes an occupation, salary, family status, student loan and credit card debt, and insurance expenses. Using the app, participants make financial decisions related to housing, transportation, childcare, food, and other necessities, all while working to stay within their assigned budget.

Students learn how to manage monthly expenses, understand credit card payments, handle unexpected financial challenges and windfalls, and evaluate how lifestyle choices impact their financial stability. While some students are able to save money by the end of the simulation, others must revisit decisions and make more affordable choices, mirroring real-life financial tradeoffs.

When asked about the main takeaways, students shared a greater appreciation for their parents’ spending decisions, a clearer understanding of the true cost of living, and the importance of managing and paying down debt. Experiencing these scenarios in a controlled, interactive environment helps students build practical financial knowledge they may not otherwise gain.

High Point FCU is excited to offer Bite of Reality to high schools throughout its expanded field of membership, which includes all of Allegany, Cattaraugus, McKean, and Potter counties. For more information or to schedule Bite of Reality at your school, email Marketing@highpointfcu.com or call (716) 372-6607.

A New Year, A Fresh Start: Financial Goals Made Simple

The start of a new year is more than just flipping the calendar, it’s a chance to reset, refocus, and move forward with confidence. At High Point FCU, we believe the new year is the perfect time to check in on your financial goals and make small changes that can lead to big wins over time.

Whether you’re planning for the year ahead or simply looking for better financial habits, we’re here to help every step of the way.

Reflect Before You Reset

Before setting new goals, take a moment to look back. What worked for you financially last year? What felt challenging? Reflection helps you build realistic goals instead of overwhelming resolutions.

Even small wins, like building a little savings or paying down one bill, are worth celebrating. Progress is progress.

Set Realistic, Meaningful Goals

Instead of broad resolutions like “save more” or “spend less,” try setting clear, achievable goals:

Build an emergency fund, even if it’s just a few dollars at a time
Pay down high-interest debt
Improve your credit score
Save for a vacation, education, or a major purchase

Breaking goals into smaller steps makes them easier to stick with, and easier to celebrate when you reach them.

Make Saving Automatic

One of the simplest ways to stay on track is to make saving automatic. Setting up recurring transfers to your savings account can help you stay consistent without thinking about it each month.

Start the Year With a Financial Checkup

The new year is a great time to review your budget, loans, and savings. Ask yourself:

Am I paying more interest than I need to?
Do my accounts still fit my needs?
Could I benefit from refinancing or consolidating?

Our team is always happy to help members review their finances and explore options that support their goals.

Let’s Make This Your Year

You don’t have to do it alone. Whether your goal is to save, borrow smarter, or simply feel more confident about your finances, High Point FCU is here to support you throughout the year.

Stop by a branch, explore our digital tools, or reach out to our team, we’d love to help you turn this fresh start into lasting financial confidence. Here’s to a new year full of opportunity, growth, and smart financial choices.

High Point FCU Donates $11,000 to Local Food Pantries

High Point FCU continued its commitment to fighting food insecurity this year by donating a total of $11,000 to support local food pantries throughout its field of membership. This annual contribution reflects the credit union’s dedication to strengthening the communities it serves and living out the credit union philosophy of people helping people.

This year’s donations supported the following food pantries: Olean Food Pantry, Creekside Chapel, Portville Community Food Pantry, Harvest Field Outreach Center, CAC Food Pantry, Salvation Army of Bradford Food Pantry, Hinsdale Ischua Food Pantry, Little Valley Food Pantry, Duke Center UMC Food Pantry, and Bolivar Food Pantry. Three of these organizations—Little Valley Food Pantry, Duke Center UMC Food Pantry, and Bolivar Food Pantry—were added this year. Each food pantry received a $1,000 donation. In addition, High Point FCU employees held a “Casual for a Cause” fundraiser, raising additional funds so that every food pantry also received an extra $100, for a total of $1,100 per pantry.

“Giving back is a core part of who we are,” said Rich Yeager, President & CEO of High Point FCU. “We’re proud to expand our support this year and stand alongside the organizations working to address food insecurity in our communities.” High Point FCU is the second largest credit union in Western New York, with assets of over $400 million. The credit union serves more than 20,000 members through four branch locations: 1201 Wayne Street in Olean, 180 West Main Street in Allegany, 160 South Main Street in Portville, and 1035 East Main Street in Bradford, PA.

Your Guide to Safe Online Shopping for Black Friday & Cyber Monday

Simple steps to avoid the scams you’re most likely to see this year.

Black Friday and Cyber Monday bring great deals, but they also bring a spike in online scams. Before you shop, here are the top holiday scams to watch out for and how to protect your information.

1. Fake Retail Websites

Scammers build look-alike sites that mimic popular stores. They use the same colors, similar logos, almost identical URLs.

How to stay safe:

Look for https:// and the padlock icon
Double-check the spelling of the URL
When in doubt, type the retailer’s name into your browser yourself

2. Phishing Emails & “Exclusive Deal” Texts

You’ll see tons of promotions this time of year and scammers rely on that. Fake emails and texts may claim:

“Your order couldn’t be delivered”
“Your account has been locked”
“Click here to claim your exclusive deal”

How to stay safe:
Don’t click links. Go directly to the retailer’s website or app to verify.

3. Fake Shipping Notifications

After making real purchases, members often fall for fake tracking updates. These messages link to malware or ask for personal information.

How to stay safe:
Track your packages only through official retailer websites.

4. Social Media Marketplace Scams

Posts offering hard-to-find gifts, game consoles, or “last minute deals” for unbelievably low prices are often scams.

Red flags:

Seller wants payment through cash apps
No reviews or very new account
Price is dramatically lower than anywhere else

5. Gift Card Scams

Scammers will ask you to pay for items or fees using gift cards, or they sell discounted cards that don’t actually work.

How to stay safe:
Never use gift cards as payment and buy them only from trusted retailers in person.

Quick Safety Tips

Use your credit union card for added fraud protection
Enable account alerts in online or mobile banking
Avoid shopping on public Wi-Fi
Trust your gut! If a deal seems off, skip it

Shop Confidently This Holiday Season

With a few precautions, you can enjoy big savings without the stress of scams. If you notice unusual activity or suspect fraud, contact High Point FCU right away, we’re here to help.

Beware the Financial Frights: 5 Spooky Scams That Could Haunt Your Wallet

It’s that time of year again, jack-o’-lanterns glow, shadows creep a little longer, and the air is filled with spooky fun. But while you’re carving pumpkins and planning costumes, don’t forget: some monsters don’t hide under the bed… they lurk in your inbox.

At High Point FCU, we’re here to protect your finances from the real Halloween horrors, fraud and scams. So, grab your flashlight and follow us into the haunted woods of fraud prevention.

1. The Phishing Phantom

Lurks in: Emails, text messages, and phone calls.
Says things like:

“There’s a problem with your account. Click this link to verify your info now!”

This classic monster disguises itself as someone you trust; your bank, a delivery service, or even your grandma (sorry, Nana). If you click the wrong link, it could drain your account faster than a vampire at a blood bank.

How to fight it:
Never click on suspicious links. If in doubt, call us directly using the number on your debit card or our website.

2. The Zombie Debt Collector

Rises from: “Old” debts you don’t remember owing.
Wants: Personal information and payment—now!

Zombie debt collectors will try to scare you into paying fake or expired debts. They use urgency and fear to get you to give up personal info or send money without verifying the claim.

How to fight it:
Ask for proof of the debt in writing. Real collectors must provide it. And if you’re unsure, reach out to our team.

3. The Loan Witch’s Curse

Disguised as: “Too good to be true” loan or grant offers.
Promises: Fast cash, no credit check, and instant approval.

These dark sorcerers prey on those in need, luring victims into giving up banking info or paying “fees” for money that never arrives.

How to fight it:
If it sounds magical, it’s probably a trick. Only apply for loans through trusted institutions (like us!).

4. The Web of Identity Theft

Casts its net via: Data breaches, stolen mail, or careless clicks.
Goal: Steal your name, your money, and your peace of mind.

Once your identity is stolen, fraudsters can open accounts in your name, rack up debt, or file false tax returns.

How to fight it:
Shred sensitive documents, use strong passwords, and check your credit report regularly. And sign up for account alerts with us to catch suspicious activity early.

5. The Ghost Purchase

Haunts your account with: Unknown charges.
Often caused by: Stored card info on hacked websites or subscriptions you forgot about.

You might not even notice it at first, a small $1.99 charge here, $5.99 there, but ghosts can add up quickly.

How to fight it:
Monitor your account regularly. If something looks off, report it immediately. We can help you cancel your card and investigate the charge.

Don’t Be Afraid—We’re Here to Help!

The world of finance doesn’t have to be scary. At High Point FCU, we work year-round (not just Halloween) to keep your accounts safe, and your money protected.

If you ever suspect a scam, reach out to us. And remember the only thing you should be scared of this October is running out of candy.

Happy Halloween from your friends at High Point FCU! Stay safe, smart, and spooky!

Football Season Is Back and So Are Sports Betting Scams

What You Need to Know to Protect Your Wallet This Season

Football is back, and so is the excitement that comes with game days, fantasy leagues, and sports betting. But as more people place bets online, scammers are getting in on the action too. They’re targeting fans with schemes designed to steal money and personal information.

At High Point FCU, we want to help you enjoy the season without falling victim to fraud. Here’s what to watch out for, and how to stay protected.

Common Sports Betting Scams to Watch Out For

1. Fake Betting Apps and Websites
Fraudsters are creating realistic-looking websites and mobile apps that mimic legitimate sportsbooks. These sites often disappear once they’ve collected deposits, leaving users with no way to recover their money.

2. Social Media Tipster Scams
Beware of “insider” betting advice or paid picks from self-proclaimed experts on social media. Many of these accounts are fake, and once they receive payment, they vanish or push you toward fraudulent betting sites.

3. Phishing Emails and Texts
Scammers may send fake emails or texts claiming you’ve won a bet or need to verify your account. These messages often contain links designed to steal your login credentials or financial information.

4. Crypto-Only Betting Platforms
Some unregulated sites ask users to deposit cryptocurrency to place bets. These transactions are difficult to trace, and if the platform is a scam, recovering your funds is nearly impossible.

5. Impersonation Scams
Scammers may pose as customer service agents from popular betting apps, requesting personal information or payment to resolve a fake issue. Legitimate companies will never ask for sensitive data via text, direct message, or unexpected phone calls.

How to Bet Safely This Season

If you choose to participate in sports betting, it’s important to take precautions:

Use Licensed and Regulated Platforms
Always use sports betting sites that are legal in your state. Most state gaming commissions have lists of approved operators.

Avoid Untraceable Payments
Never send money using cryptocurrency, wire transfers, gift cards, or peer-to-peer apps unless you’re confident in the platform’s legitimacy and consumer protections.

Enable Account Alerts
Use your credit union’s mobile app or online banking tools to receive real-time alerts about purchases or suspicious activity.

Don’t Share Personal Information
Never provide your debit card PIN, online banking credentials, or Social Security number to someone claiming to be from a betting site or financial institution.

Use Strong Passwords and Two-Factor Authentication
Secure your devices and online accounts with strong passwords and two-factor authentication whenever possible.

What I Wish I Learned in School About Money Management 8 of 12: The Basics of Investing

Everyone dreams of becoming an investor but taking that first step into the market can feel overwhelming. Where should you begin? Which investments align with your goals?

So many questions, and we’ve got answers! Here’s what you need to know about investing to get started.

What is investing?

At its core, investing means putting your money into something with the expectation that it will grow in value over time. Investments can take many forms, including:

Stocks-shares of ownership in a company.
Bonds-loans you give to governments or corporations in exchange for interest.
Mutual funds-pools of money from many investors used to buy a mix of stocks and bonds.
Exchange-traded funds (ETFs)-similar to mutual funds but traded like individual stocks.
Commodities-like gold or oil.
Real estate-whether commercial or residential

Why invest?

Investing is crucial for long-term financial growth. Here’s why:

Beat inflation. Investing helps your money grow at a rate that can outpace inflation.
Build wealth. Consistent investing — even in small amounts — can add up over time thanks to compound interest, where you earn returns on your original investment and the returns you’ve earned.
Reach financial goals. Whether you’re saving for retirement, a home or your child’s education, investing can help you get there faster than by saving alone.

Types of investments: the big three

Stocks. When you buy a stock, you’re buying a piece of a company. If the company performs well, the stock’s value may rise, and you will likely get dividends, or a share of the company’s profits. Stocks can offer high returns, but they come with higher risk.
Bonds. Bonds are generally more stable. When you buy a bond, you’re essentially lending money to a company or the government. In return, they promise to pay you back with interest.
Mutual funds and ETFs. These are collections of investments managed by professionals (mutual funds) or following an index (ETFs). They offer diversification, which spreads out your risk by investing in several companies or sectors at once.

Risk and reward: finding the balance

Every investment carries risk, which means you can lose money. Generally, the higher the potential reward, the greater the risk. Your risk tolerance depends on factors like your age, financial goals, time horizon (when you’ll need the money) and your personal comfort with market fluctuations.

The power of compound interest

One of the most powerful forces in investing is compound interest. Let’s say you invest $1,000 and earn a 7% annual return. After one year, you’ll have $1,070. The next year, you earn interest on $1,070 — not just your original $1,000. Over time, that snowball effect can lead to massive growth.

Getting started

Here’s how to jump into the world of investing in five easy steps:

Clarify your goals.
Build an emergency fund first with three to six months’ worth of expenses saved.
Start with tax-advantaged accounts, like a 401(k), IRA or Roth IRA.
Choose a platform. You can invest through a brokerage account like Fidelity, or a robo-advisor like Betterment.
Start small and stay consistent — even $50 a month adds up.

Investing tips for beginners

Diversify. Spread your investments across different asset classes and markets.
Think long-term. Expect fluctuations in the market and don’t panic over short-term drops. They rarely affect your overall net gain.
Avoid trying to time the market. No one can predict exactly when to buy or sell. Time in the market usually beats timing the market.
Stay educated. Read books, follow financial blogs and/or listen to podcasts on investing to deepen your understanding.

Start now, stay steady and watch your money grow.

Common Summer Scams and How to Avoid Them

Don’t get scammed this summer! Here are some of the most common summer scams and how to avoid them.

Travel scams

In these scams, fraudsters target vacationers with offers that are too good to be true. They’ll promote bogus travel sites with incredibly low prices on rentals, but when the victim travels to the alleged rental, they’ll find it doesn’t exist.

Red flags:

“Free vacation” offers
Ridiculously low-priced getaways

Stay safe: Only book your vacations through reputable travel sites and platforms. Before reserving, verify the property address online and run the photos through a reverse-image search. Pay via credit card for purchase protection.

Online shopping scams

Here, scammers create copycat shopping websites or fake social media stores selling seasonal gear at huge discounts They may lure you with aggressive email campaigns, fake security alerts and/or spoofed “order confirmation” messages.

Red flags:

URLs with spelling errors and typos
Emails that use urgent or threatening language
“Verification” requests for account details you didn’t initiate

Stay safe: Only shop trusted sellers and platforms. Check for a padlock symbol and review the URL’s spelling of each landing page. Never pay by wire transfer or gift card when making a purchase. If you get an unexpected package notification or account alert, don’t click any links; instead log into your account directly or call the company using a verified number.

Event ticket scams

Concerts, sports games and festivals are summer staples, and scammers know it. Fake or counterfeit tickets are sold on shady sites and through social media posts, with fraud sales peaking in the summer.

Red flags:

Unsolicited offers for tickets
Online listings for extra “Hot Concert” tickets for a fraction of face value
Requests to pay by cash or bank transfer

Stay safe: Only buy tickets from the venue box office, official promoter or verified resale sites. Use a credit card to pay, if possible.

Door-to-door scams

In these scams, fraudsters knock on doors and offer various home repairs on the spot. They’ll pressure the target with scare tactics like, “Our crew is leaving town tomorrow” or claim to have extra materials “left over.”

Red flags:

“Contractors” without proper licensing or permits
Door-to-door workers offering super-cheap work

Stay safe: Verify credentials before you hand over your personal info, cash or credit card. Ask for references before hiring and get a complete written estimate of the cost.

If you’ve been scammed

If you believe you’ve been scammed, take action quickly. Contact your credit union or credit card company to report any fraudulent charges and request a reversal. If you paid via a wire transfer or money app, notify the wire company and if gift cards were used, contact the card issuer to explain the fraud. Change any passwords that may have been compromised.

Next, file a report with the FTC and let local law enforcement agencies know about the scam. If you shared sensitive information, visit IdentityTheft.gov for step-by-step guidance.

Stay safe!

What I Wish I Learned in School: How to Manage Debt

Carrying ongoing debt can bring many challenges. The person is often stuck paying high interest rates. This, in turn, can prompt the debtor to only pay the minimum amount due each month. And that means making little headway on the actual balance. As time passes, they’ll keep acquiring new debt and keep falling deeper into the trap.

The good news is, it doesn’t have to be this way. With the right tools and information, you can learn to manage, and ultimately, eliminate your debt.

Here are nine steps for managing your debt and paying it down.

1. Organize your debt

First, list all your debts. Include credit cards, student loans, auto loans and any other outstanding balance you may carry. For each debt, note the following:

Total amount owed
Interest rate
Minimum monthly payment
Due date of monthly payment

Tally up your total debt monthly payments. Then, list your debts in order of interest rates, and then in order of outstanding balances.

2. Create a realistic budget

Track your income and expenses for several months. Then, set aside a reasonable amount for each spending category, ensuring you can adequately cover all of your monthly expenses. Finally, review your spending and look for ways you can increase your income and/or trim your expenses in any manner. Allocate these extra funds toward your debt payments.

3. Choose your debt payoff strategy

You have two primary choices here:

The avalanche method. Here, you’ll start with the debt that has the highest interest rate or highest balance, and maximize payments toward paying it off, then move on to the next until you’re debt-free.
The snowball method. In this method, you’ll pay off the smallest debt first, and then work through the rest in ascending order.

Review each strategy carefully and choose the one that best aligns with your lifestyle.

4. Consider debt consolidation

If you’re dealing with a large amount of debt, you may want to consider debt consolidation. This involves combining multiple debts into a single loan with a lower interest rate. Doing so will simplify debt management by giving you just one monthly payment to manage, and can potentially lower overall interest paid, too.

5. Avoid accumulating additional debt

Limit the use of credit cards and refrain from financing new purchases while working on paying off debt. It may be helpful to destroy your credit cards and have your personal devices “forget” your credit card information so you don’t spend mindlessly.

6. Seek professional advice

If managing debt becomes overwhelming, consider consulting a financial advisor or credit counseling service. It’s important to verify any service you use by checking for an online presence, reading customer reviews, demanding complete transparency and being wary of any service that demands upfront payment and/or promises outrageous results.

7. Monitor your credit

It’s wise to review your credit usage on a regular basis, and this is especially relevant when you’re working toward paying down debt. You can obtain free credit reports once a year from each of the three major credit bureaus and check your score on sites like CreditKarma. It’s also important to review your monthly credit card statements for fraud.

8. Build an emergency fund

Having an emergency fund can prevent the need to incur additional debt during unforeseen circumstances. Aim for a fund amounting to three to six months’ worth of living expenses.

9. Stay committed and patient

Celebrate small victories along the way to stay motivated. Consistency and perseverance are the keys to achieving financial freedom.

Follow these tips to learn how to manage and pay down your debt for good.