letter from the President |
Developing an enduring approach to your finances can be a struggle; but in the end it’s all worth it.
Like many of life’s most rewarding challenges, learning the skills to master your personal finances takes time, energy, effort and patience. It’s not unlike raising a child. There will be obstacles to overcome, fears to quiet, successes to celebrate, and immense satisfaction when you feel like you’ve done a good job.
Financial freedom is achieved through hard work and sticking out the difficult parts. When my daughter was an infant, she was not an easy sleeper. Many parents will understand the feelings of failure, exhaustion, and frustration that can accompany the process of getting your child to sleep peacefully through the night. But years later, after making it through all those challenges, she’s a fully-grown adult that I’m so immensely proud of (and loves her sleep). I wouldn’t trade a minute of the struggles of parenting for anything.
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Charlotte Nemec, President/CEO |
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Finance or refinance your vehicle with us and enjoy freedom from loan payments for up to 100 days!
EXTENDED through July 31!
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coping with inflation at every stage of life |
Regardless of age, the recent rise in inflation is making life more expensive for everyone. For millennials, the effects of inflation – which reached an overall rate of 8.5% in March, have been particularly devastating.
According to a recently study, consumers aged 35 to 44 are experiencing inflation at a higher rate than other age groups, with those 25 to 34 close behind. Millennials typically dedicate a greater share of their spending than other generations to specific categories of expenses that have been increasing most rapidly, such as rent and home purchases, vehicles, and fuel. Grocery bills are getting larger too, creating a growing burden for big families.
What can you do?
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10 free things to do for fun this summer
Summer’s already here but it’s never too late to break out the calendar and start filling up what’s left of your schedule.
Here’s a list of 10 free, or nearly free, activities you and your family can do that will still ensure summer is full of fun and free or low cost things to enjoy.
Plant a garden
Planting a garden is one of the most productive and rewarding things you can do in the summer. It’ll keep you busy all season long, and bonus – you’ll enjoy fresh, delicious produce, too!
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5 tips to make the most of your summer vacation budget
Nearly everyone looks forward to a relaxing summer break. Get the most out of your trip without breaking the bank. Here are 5 tips to help:
1. Pay up front
If you can, pay for your hotel and other arrangements in advance. There will always be plenty of other expenses as your trip unfolds, but having paid for some of the major expenses in advance keeps your account balances from taking a big hit all at once.
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fund your forever dream kitchen
30-year mortgages as little as 5.00% down
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ask a Financial Coach
Canopy’s financial coaching services are designed to meet you where you are and help you gain the knowledge and skills you need to successfully manage your financial life.
Our coaches get a lot of questions along the way. Here are a couple you might find interesting:
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Q: Childcare is taking over my budget, what are my options?
A: You’re not imagining it. It’s surprising to learn that one-year of child care costs more than the average price of in-state college tuition according to a recent survey.
Q: How can I get my partner on board with a budget plan?
A: You want to create a household budget, but your partner/spouse/significant other is not on board. Here’s how to move the conversation forward:
LISTEN FIRST
If they’re opposed or hesitant, they probably have misgivings that need to be addressed.
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just got a big raise?
Here’s how to keep lifestyle creep from erasing it.
Lifestyle creep occurs when people’s standard of living improves as their income rises. It doesn’t happen overnight. Instead, it’s a money-draining cycle of earning more income followed by spending more, followed by ... you get the picture. Because the more you spend, the harder you work to earn more, the cycle just keeps repeating itself.
Here are few spending pitfalls to avoid:
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"The people that work for Canopy treat you like they've known you forever. Great customer service."
~ Jennifer N.
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it’s wedding season – what to expect when combining finances with a partner or spouse |
Joint finances mean something different for every couple. Some keep their funds separate and only share a checking account for joint expenses. Others combine everything – bank accounts, credit cards, investments, and more. There’s no wrong answer. Instead, it’s important to find the solution that works best for you and your partner or spouse.
GETTING STARTED
Here’s everything you need to know about how to combine finances after marriage. When it comes to money and marriage, openness, candor, and honesty are essential.
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CFS* Financial Advisor
858.805.7922
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financial planning
leaving a legacy
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You’ve worked hard over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that are important to you. But to ensure that your legacy reaches your heirs as you intend, you must make the proper arrangements now. There are four basic ways to leave a legacy: (1) by will, (2) by trust, (3) by beneficiary designation, and (4) by joint ownership arrangements.
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other stories in this edition:
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