Smart Money Financial Blog

This summer, join our Summer Savings Challenge at Education First to transform your financial health. Spend your summer saving with these six simple and ...

Rising housing costs, inflation, and uneven income growth have made it harder for many households to stay afloat on their own. As a result, more people are turning to family for support—and more families are stepping in to help.

For many retirees, housing is the hardest expense to adjust on a fixed income. If you’re feeling the pressure, you’re not alone. Housing accounts for about 36% of annual spending for adults age 65 and older, making it the biggest budget category.

Watching your credit score drop can be a little scary – especially if you’re not sure why. A credit drop is usually tied to a few common triggers (like higher card balances, a missed payment, or a new application) and most are fixable with a simple plan.

What is Inflation? Inflation is an economic term that describes a general increase in prices and a fall in the purchasing power of money. A little bit of inflation is normal and even good for a healthy economy.

Owe the IRS? You’re not alone. Seeing a tax bill can feel overwhelming. It’s easy to jump to worse-case scenarios – growing balances, IRS notices, or wage garnishment. The IRS offers structured payment options that allow you to pay over time instead of all at once. The sooner you act, the more flexibility you’ll have.

There is no denying the speed and convenience of peer-to-peer payment apps. But they aren’t risk-free, so make sure you’re aware of potential pitfalls before you hit Send.

Every April, Education First Credit Union celebrates National Credit Union Youth Month, which aims to help kids learn more about finances and saving and prepare them for a bright financial future.

If you’re expecting a tax refund this year, you may already have lots of ideas on how to spend it. Sure, you could go on a shopping spree, but that’s probably not helping you reach your financial goals. Instead, your refund could help boost your emergency fund, pay off debts, contribute to your retirement accounts, invest, or fund college accounts.

Your credit score may seem like a random number, but it tells lenders and other creditors a lot about your financial behavior. It’s calculated from a mix of factors in your credit report and suggests how likely you are to fulfill financial obligations, such as paying back a loan.