10 Fees You Shouldn't Pay

by Janice Forostiak, Marketing Department


Looking for ways to save money? Look everywhere! Because there are sneaky fees hidden in many products and services. You might say “It’s only a dollar or two.” But those dollars add up quickly. By the end of the year, you could be saving hundreds or even thousands of dollars!

Get it for free, or at least get it for less. . .that’s the goal of this post. Most of the time you can avoid being nickeled and dimed. Our friends at BillShrink.com -- a free cost-savings site – offer up the following tips:

1. 'Free' checking fee. Banks are starting to attach more strings to their free checking accounts. Unless you go with no-fee, credit union checking from Signal Financial – no kidding! Click here for information.

2. Balance-transfer fee. Some credit card companies now charge up to 5% for balance transfers. At Signal Financial, all balance transfers to your VISA Classic or Platinum cards are FREE*. Click here for information.

3. Retailer credit card fees. Are you tempted by your favorite department store offers: "Do you want to save 10% on your purchase today by opening a card account with us?" The discount is tempting, but remember that these cards often come with higher interest rates than traditional credit cards. If you don't pay your bill in full, that discount you got will quickly be wiped out by the high rate you'll be paying on your balance.

4. Credit card late fees. Avoid late fees by signing up for payment alerts from your credit card company. You'll receive an email or text message several days before your bill is due. Or, set up an automatic minimum payment to cover you in case you forget. (You can do both of these with a Signal Financial VISA Card!)

5. Reward card annual fees. An increasing number of rewards cards charge annual fees. However, there are cards with great perks and no fees.

6. Directory assistance fees. Calling 411 is so yesterday. Plus, it can cost $1.25 or more. You can get free directory assistance by calling 1-800-BING-411 or 1-800-FREE-411.

7. Baggage fees. Unless you fly on Southwest or JetBlue, you'll probably pay a fee to check a bag. If you're flying with any of the other airlines and have to check a few bags, you might find it cheaper to send your luggage to your destination by FedEx, UPS or U.S. Postal Service ground shipping. (Or, you could pack less, too. A little reality-based planning could save you money: “Do I really need 8 pairs of shoes for a 4-day weekend?)

8. Airline booking fees. Don't even think about picking up the phone to book a flight -- unless you don't mind spending $15 or more for the privilege of talking to a booking agent. Book your flights online to avoid this fee.

9. Cellphone early termination fees. You can face a termination fee of $200 or more if you cancel your service before your contract is up. You can avoid these fees by signing up for prepaid service (and save money because these plans usually are cheaper).

10. Roaming fees. Cellphone roaming and international rates can be as much as $2.49 per minute. If you send a video while roaming, you could be charged up to $7. Wow! Remember that many cell carriers offer a Friends and Family network whereby you plug in your most frequent numbers and you won’t be charged roaming fees. This is a great benefit!

So, make some changes, evaluate your plans and start saving money today!

* For Credit Card option only: The rate is good for the life of the transfer. If your account is closed during the promotion, the remaining balance will revert back to the regular rate of the card (Visa Classic: Wall Street Journal Prime Rate + 8.51%=11.76% APR; Visa Platinum: Wall Street Journal Prime Rate + 6.50%=9.75% APR). If you are paying more than the minimum payment and you want the excess payment to be applied to your promotional balance, you must send this extra payment to: Signal Financial VISA Department, 3015 University Blvd., West, Kensington, MD 20895. Other restrictions may apply. Rates effective as of 01/2/14. Business cards are excluded from offer. Rates subject to change without notice. Transfer must be from outside source. APR = Annual Percentage Rate. Once you have committed to a rate, you may not change it. The Wall Street Journal Prime Rate is 3.25% as of 9/15/14.

BEWARE of the Ways Car Dealers Can Rip You Off

by Janice Forostiak, Marketing Department

The new cars are rolling into the dealers' showrooms right about now, and if you’re planning your next car or truck purchase, you’ll want to do your homework so that you get the best deal. You don’t want to be the victim of a sales tactic you can’t handle. So, pay attention to the following advice from Shauna Zamarippa of Money Talks News. (Not only is she a personal finance writer, she used to sell cars for a living!)

1. Inflated Sticker Prices
The stickers on the window include prices that aren't all set by the manufacturer. Some are called “bumper stickers” – not because they went on the bumper, but because they bumped up the price of the vehicle. What’s on there? Services like VIN etching, fabric treatment, undercarriage sealant – which you might not need or could do yourself cheaper.
Solution: Tell the dealer you want to see the “original invoice” minus the “bumper sticker.” If he refuses, walk out and head to a dealer who will.

2. Lowballing your trade-in
The Kelley Blue Book price is the most effective way for dealers to lowball your trade-in. But dealers actually use NADA (The National Automobile Dealers Association) for used-car valuations, typically higher than KBB, which can undervalue trade-ins by as much as $5000.
Solution: Print out the NADA values for your car based on its age, mileage, and condition – so the dealer knows that YOU know its true value. Better yet, sell your car privately before heading to the lot. That’s the way you’ll get the most money for it.

3. Paying for “Customer Service”
On your paperwork, you’ll notice something called a “customer service fee" -- or dealer charges for handling your paperwork, issuing your tags, processing your title, and paying your taxes – in other words “to do their job.” They can charge anywhere from $299 to a whopping $1,000 for something that takes about 30 minutes! (That’s a pretty good hourly rate, but you should keep that money in YOUR pocket!)
Solution: Don’t pay it. Or at least get it reduced, especially if you’ve obtained financing through the credit union.

4. GAP Insurance
Not a bad product, but way overpriced at the dealership. If you wreck your financed car, GAP insurance pays the difference between what you owe and what it’s worth. The dealership will try to sell it to you for $500 or more. But you can often get the same thing at the credit union for less than half.
Solution: Buy GAP insurance from your credit union! Click here for details.

5. Extended Service Contracts
Extra protection and peace of mind are usually good things when it comes to car buying, but a dealer isn’t the least expensive place to find it. You’ll find better rates after-market than at the dealership.
Solution: Before deciding on an extended service contract, shop rates, terms, and deductibles from outside warranty sources. (Signal Financial offers MRC, or Mechanical Repair Coverage, at substantial savings!) Click here for details.

Feel better about going to the dealer? Good! Test drive. Be tough, and come see us for the rest.


Source: Read more at www.moneytalksnews.com

Coupon Deals: Always in Fashion (well...almost)

by Janice Forostiak, Marketing Department

Ah, prom night! The promise of a magical night of dining and dancing with your high school buds, all dressed up in their finest tuxedos and sequined gowns.

As they finished posing for their pictures, I hugged my son and quietly pressed a piece of paper into his hands. He gave me "the look" and said "What's this?"

"It's a coupon for a free Bloomin' Onion, honey. Isn't it great?"

"Mom...I'm not using a coupon for our prom night dinner."

I felt the air leave the room, my hopes dashed. Clearly he was NOT as thrilled as I with saving money. "Cool" had trumped savings.

A friend of mine once said to me "If you have to pay full price, it's not meant to be." Simple as that. Who doesn't love a good bargain? Perhaps my Bloomin' Onion coupon crossed the line...

Nowadays, everyone's getting in on the coupon act. Coupons are cool again! In fact, 96 million adults will use digital coupons this year! (source: Market Research company Emarketer) But, how do you find the best deals? Special websites and mobile apps make saving money easy. Here are a few to try out:

1) SnipSnap: Prepare to save some serious moolah because this app makes it easy to use and offers promo codes online. SnipSnap is the first app to scan, save, and redeem printed coupons on your mobile phone. Just snap a photo of a printed coupon and SnipSnap magically recognizes all the text and images, and turns it into a mobile-ready offer. Works for most retailers and restaurants. (See snipsnap.it for more information.)

2) Coupons.com: Online plus mobile app makes it easy to use promo codes online -- Just drag and drop!

3) The Coupons App: This #1 app from iTunes allows you to coupon shop, update deals, locate cheap gas and share with friends.

4) Retailmenot: Great for shopaholics! Offers thousands of coupons from top retailers ranking them for quality.

5) Groupon: Get incredible deals at 50-70% off retail price on travel, tickets, Broadway shows, merchandise, services and more!

6) Gas Buddy: Finding cheap gas just got better! This app locates the cheapest fuel nearest you.

7) Expedia: Travel cheaper with the Expedia website and app. They have great deals on hotels, vacation packages and more.

8) Shop Savvy: Make sure you always pay the lowest price with this barcode-scanning app. When you're planning to buy something, just take a picture of its barcode with your iPhone's camera and the app will search the web for the lowest price.

These are only a few of the hundreds of money-saving apps! Most are available online or via iTunes. Happy shopping!

Did you know that Signal Financial makes banking easy with our FREE mobile app? You can pay bills, check balances, deposit checks and much more! Click here for information!

Keep Your Pets Safe This Summer!

by Janice Forostiak, Marketing Department

The dog days of summer are now upon us, and nothing beats a Washington summer with its heat and humidity. Thankfully, humans adapt to whatever Mother Nature dishes out. Remember that while you're adjusting to the heat with extra water and cool A/C, remember that your pets are suffering too, and Fido and Kitty may need some extra precautions just like you.

Our friends from the Humane Society caution pet owners about heat safety and offer up the following tips to keep your animals safe on the hottest days of summer:

Heat stroke can affect your pets, just like people, so keep them indoors during the hottest days, make sure they can get to a cool shady spot for outside time, and give them plenty of fresh water.

Give them a haircut! A little less hair in the summer might keep them quite a bit cooler, so don't hesitate to tell the groomer to go a little shorter.

NEVER leave your pet in a parked car Even a comfortably air-conditioned car can rise by 20 degrees in just a few minutes while you run into the store, feeling like an oven in no time. Better to leave your pet at home on hot days.

Watch the humidity Animals pant to evaporate moisture from their lungs, which takes heat away from their body. If the humidity is too high, they are unable to cool themselves, and their temperature can skyrocket to dangerous levels very quickly.

Limit exercise on hot days. Adjust intensity and duration of exercise in accordance with the temperature. Also, remember that asphalt gets very hot and can burn your pet's paws, so walk your dog on the grass if possible. Always carry water with you to keep your dog from dehydrating.

What to do if you suspect heatstroke.If your pet is panting excessively, is disoriented or begins vomiting, he may be suffering from heatstroke. Move your pet into the shade or an air-conditioned area. Apply ice packs or cold towels to the head, neck, and chest or run cool (not cold) water over him. Let him drink small amounts of cool water or lick ice cubes. Take him directly to a veterinarian.

A hot summer doesn't mean we all become shut-ins; with extra precautions for people and pets, we can all go about our business as usual and enjoy the warm-weather months.

Stay cool!

For more information about pet safety and related topics, go to www.humanesociety.org

Reverse Your Cash Flow!

by Janice Forostiak, Marketing Department

Do you ever get to the end of the month and say to yourself "Where did all my money go?" We've all been there, and the answer is generally -- to bills, mortgage payments, home improve costs, health care, transportation, food ... the list goes on. Even if you keep the strictest records, there's one area you might be overlooking: Miscellaneous. This can be anything from daily coffee shop trips, to entertainment costs, to fast food, and everything in between. These things are like vacuum cleaners -- they suck the cash right out of your pocket if you aren't careful. So what do you do? Here are a few tips to help you KEEP more money for the bigger things in life: savings, college, retirement, vacations .... anything you choose that's a little more important than say, that expensive coffee treat.

Beware of Impulse Buys. How many times do you go into Costco for groceries and end up with beach towels, new rugs, the latest best-seller, socks, etc.? If it's not on the list, keep the cart moving.

Shop the Specials. Check out websites before you go shopping. Use "old fashioned" Sunday paper sale flyers to see where the best deals are, or go online to find the best deals. Plan shopping trips around weekly specials, and sign up for rewards at your local grocery store. The savings? As much as 20%!

Buy Off-Label. Try store brands for pre-packaged items. Many times these products are made by the same name-brand makers, but the prices are lower because there are no pricey advertising fees built in. Items like your favorite cereal, crackers, condiments and cookies might be worth trying off-brand. And if you hate it? Don't buy it again. But the savings can be substantial! (Editor's Note: I once tried store-brand grapefruit soda, thinking it would be as good as Fresca -- blech! Not even close.)

Reclaim Rebates. Only about 21% of consumers actually send in rebate forms, so it's a great gimmick to get you to buy. So, be one of the 21%, fill out the form and send it in for your cash rebate!

Fight Fees. Your bank or merchant credit card may charge as much as $35 insufficient funds fee for a simple oversight or timing error, but if you call up and ask nicely, they'll often waive it as a courtesy, particularly if you have had a good payment history.

The moral of this blog is, we all have to be a little frugal at times, but the savings can be huge!

Congratulations to Micaih Murray, winner of the 2014 Les Dauphin Scholarship.

"Come on, get HAPPY!"

by Janice Forostiak, Marketing Department

I love radio. Really, I do. But it seems like 4 or 5 times each hour, Pharrell's "Happy" song is on. And every morning I wake up to:

"Because I’m happy
Clap along if you feel like a room without a roof
Because I’m happy
Clap along if you feel like happiness is the truth
Because I’m happy
Clap along if you know what happiness is to you
Because I’m happy
Clap along if you feel like that’s what you wanna do."


Instead of being annoyed, I decided to embrace the suggestion. What a great song with a positive message! Even at 5:30 in the morning. Who could argue with wanting to be happy? We all go through the highs and lows of life because, well, that's LIFE. But did you know there are ways to improve your level of happiness? Sometimes, the things you do, and the thoughts you cultivate, can lead to a better frame of mind -- or happiness.

Here are a few common-sense tips to help improve your mood or outlook on life:

1) Invest time in your family and friends. Strong ties to family and friends reduce rates of depression, suicide and stress. Better yet, it may even help you live longer!

ACTION: Schedule more time with friends and family for dinners and outings.

2) Find your purpose. Happy people have a reason to get up in the morning, and are able to fuel their passions to help their communities and their personal lives.

ACTION: What makes you happiest? When do you feel your best? What do you want your life to look like in a year . . . 5 years. . . 10 years? Go for it!

3) Get your financial house in order. This is a biggie! And here's where we could really help to get you back on track. First, you should be happy you're a credit union member to begin with :) Next, remember that the happiest people may not be rich, but they have enough money to be comfortable. (Food for thought: If being rich made you happy, there would be no reality TV.)

ACTION: Create a budget and stick to it. Come talk to us about helping you manage your debt better! We're your credit union, and we're here to help.

4) Exercise and eat right. Exercise releases endorphins, the ultimate mood booster. Eating a diet full of veggies, fruit, beans and nuts has been shown to lower blood pressure and cholosterol and reduce your risk of cardiovascular disease.

ACTION: Take a walk during your lunch break, join a gym or recreational sports team, and BUY healthier food. Stick to it!


Source: New York Times best selling author and National Geographic Fellow, Dan Buettner, is the author of The Blue Zones and Thrive. He studies happiness and longevity and created a test that measures happiness. Find out more and take the test at bluezones.com.