Step 2 of 12 Towards Financial Freedom: Don't Dig Yourself Deeper

When you’ve dug yourself deep into a pit, the only way to get out is to stop digging. This month, focus on not racking up more debt. Stop using your credit cards. Skip your weekly trips that usually have you buying too many non-essentials.

Instead, start brown-bagging your work lunch and brewing your own coffee. Get into the habit of spending only on essentials so you can make real progress toward paying down that debt. Click here if you need some tips for cutting expenses.

Don’t forget to make the minimum payments on every line of credit and loan you have open. Neglecting your debt will only pull you deeper into the pit.

 Feeling overwhelmed? No worries; we’ve got you covered! Sit down with one of our free, on-staff financial counselors. They can help suggest ways of saving more and spending less so you can be one step closer to financial freedom. Call today at 330-364-8874 and ask for Katy Steinebrey or Fred Weingarth.

Want more information on managing debt? Check out our interactive library through Banzai by clicking here.

Step 1 of 12 Towards Financial Freedom: Take Stock of Your Debt

You’re determined that this will be the year you finally pay down (or pay off) that debt. Get ready, because every month, our Financial Freedom plan will have you taking another step on your journey toward living a debt-free life.

First, sit down and take stock of all your debts. Don’t let the numbers scare you; you need to do this to move forward. Get out every single credit card bill, personal loan, student loan, and any other debt you’re carrying (except your car and mortgage payments). Tally up the numbers to give yourself an idea of what you’re dealing with.

Next, organize your debt into different categories, such as credit card debt, student debt, personal loans, etc. Use a spreadsheet to list your debt, the remaining term of each loan (if applicable), the minimum payment, and the interest rate.   

Finally, designate one hour each week for working on your finances. DoverPhila Federal Credit Union has simple tools and tips to help you navigate through your finances. Click here for an interactive library

Feeling overwhelmed? No worries; we’ve got you covered! Sit down with one of our free, on-staff financial counselors. They can help simplify the first step towards financial freedom. Call today at 330-364-8874.

DoverPhila Celebrates Youth Members

We often look at pictures to remember the past, but what about the future?

If you ask your children, they can likely picture a future they would like to live in. Some dream to become doctors and help people, others want to be known for their talents. For children and teenagers, the future brings limitless possibilities. But no matter what the dream is, financial education can be instrumental in helping achieve it.

DoverPhila Federal Credit Union knows that financial literacy is a crucial skill for people, but it is one that too few are learning. We believe that financially prepared youth is the key to a successful future, and that is why we are using April to celebrate our youth members.

The theme for this year’s youth celebration is “The future is yours… Picture it! Save for it! Share it!” To kick-off the celebration, we are hosting a Picture It! Save for It! Share It! Contest. The month-long contest that ends April 30th encourages members, 17 years old and younger, to submit vision board posters that consist of photos and illustrations that express their own financial goals/future. Submissions will hang in the lobby of DoverPhila Federal Credit Union’s main office on Fillmore Avenue in Dover. Winners receive a $50 deposit into their youth accounts.

Also in conjunction with this year’s youth celebration is Bonus Week. From April 22nd through April 27th, youth club members can receive a 10% bonus up to $10 on qualifying deposits made to their youth accounts. Each deposit made during this week is an entry into a DPFCU gift basket drawing.     

Please click here or contact a DoverPhila member service representative for details and rules regarding the youth celebration.

DoverPhila Partners with Area Organizations to Promote Financial Literacy

OhioMeansJobs Tuscarawas County, United Way of Tuscarawas County, Inc., and DoverPhila Federal Credit Union are partnering to offer a financial literacy workshop for area residents. “Master Your Money – Simple Tips to Improve Cash Flow” will be held Tuesday, December 5th, 10:00AM to 12:00PM at OhioMeansJobs Tuscarawas County at 1260 Monroe Street in New Philadelphia. 

The workshop will offer easy and straightforward methods to reaching financial goals. Topics include tackling expenses, increasing savings and improving credit.

“Many of the customers that we serve struggle with numerous financial difficulties due to lack of employment or other employment related issues. This collaboration with United Way of Tuscarawas County, Inc. and DoverPhila Federal Credit Union is a positive step in helping area residents become financially stable and achieve financial independence,” said JoAnn Breedlove, COO of OhioMeansJobs Centers in Stark and Tuscarawas Counties. 

“This collaboration is a great example of how United Way brings together organizations with common missions and goals,” said Robin Waltz, President of United Way of Tuscarawas County, Inc.

For further details contact OhioMeansJobs Tuscarawas County at 330-364-9777. Pre-registration is suggested but not required.