The Bottom Line
Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
Resolve for Financial Well-being
Majority of Americans Resolve for Financial Well-being in 2018
Below is great information from NEFE, the National Endowment for Financial Education. Mid Oregon believes that NEFE is an organization which provides quality financial information. From time to time they share content on tips and resources to those interested in improving their financial well being. Occasionally we will post information we believe will be helpful to our members and the Central Oregon community. We hope you find “Majority of Americans Resolve for Financial Well-being in 2018” useful.
Nearly 7 in 10 Will Set Goals to Improve Finances
NEFE, January 4, 2018
The latest issue of an annual survey on consumer expectations from the National Endowment for Financial Education (NEFE) finds over two thirds (69 percent) of U.S. adults will set a financial New Year’s resolution for 2018, a consistent indication that many Americans continue to focus on their financial health as much as their physical health.
This year’s survey also finds that the majority of U.S. adults (53 percent) feel the current quality of their financial life is about what they expect it to be, with 18 percent saying it is better than expected. Regretfully nearly one in three (29 percent) rate the current quality of their financial life worse than they expect it to be. The survey was conducted online in December 2017 by Harris Poll on behalf of NEFE, among more than 2,100 U.S. adults.
Finances Causing Americans Stress
“We continue to see a lot of anxiety about money. Three quarters of Americans (76 percent) say something causes them financial stress. It’s the usual suspects of not saving enough and debt that they say is to blame,” says Ted Beck, president and CEO of NEFE. “Financial setbacks add to the distress. Almost two thirds (63 percent) experienced an unexpected expense in 2017. We have to change our mindset. We must realize that these expenses are not if they will happen, but when they will happen. An emergency savings, even a modest amount as a starting point, can alleviate uneasiness.”
The most common financial setback in 2017 seen in the results of the NEFE survey are transportation issues (23 percent). Next are housing repairs/maintenance (20 percent), and the inability to keep up with debt/falling behind on bill payments (16 percent). Additionally, the survey finds the top anticipated expense in 2018 among U.S. adults will be paying off debt (40 percent). Close behind are home improvement and maintenance (33 percent), and transportation-related expenses (32 percent).
Tips for Financial Success in 2018
Get debt under control. Take a hard, honest look at what you owe. Set a goal to reduce your debt load in 2018 by 5-10 percent. That might mean reducing impulse shopping. When you face temptation, delay the purchase and give yourself time to consider whether it’s a wise move that fits within your budget.
Save now and do so often. Preparing for unexpected events like medical emergencies can help reduce the financial impact of a life-changing event. Emergency savings can offset unexpected costs and help you get back on solid footing. A good rule of thumb is to have six to nine months of income set aside. That may seem out of reach so start with a smaller goal—even as little as $500. When it comes to saving, it’s also a smart idea to think long term. Review your long-term savings and ensure they are on target for your retirement plans.
Shop for better services. You may be surprised by how much you can save when you periodically shop for the most competitive rates on your recurring bills. Make a game out of shopping providers to find the best value on your insurance policies, cell phone plan, internet and utilities. Ask your providers about current rates and any promotions available to long-time, loyal customers. Then look at alternative providers to determine where you can trim some spending. Be sure to understand your current offering thoroughly so that you are comparing apples to apples.
Understand what’s behind your financial decisions. If you ever wonder why you feel good about spending money on vacations but avoid saving for retirement, the answer may lie in your unique values and how they influence your financial decision-making. Consider taking the LifeValues Quiz on smartaboutmoney.org to help understand how you spend your money.
About the Survey and NEFE
For help getting finances in order in 2018, visit www.smartaboutmoney.org.
Survey Methodology
Harris Poll® fielded the study on behalf of the National Endowment for Financial Education from December 7-11, 2017, via its Harris On Demand online omnibus service, interviewing 2,165 U.S. adults aged 18+. Data were weighted using propensity score weighting to be representative of the total U.S. adult population on the basis of region, age within gender, education, household income, race/ethnicity, and propensity to be online. No estimates of theoretical sampling error can be calculated; a full methodology is available on www.nefe.org.
About the National Endowment for Financial Education
NEFE is an independent nonprofit organization committed to educating Americans about personal finance and empowering them to make positive and sound decisions to reach financial goals. For more information, visit www.nefe.org.
Share with Friends: Free Family Saturday!
Free Family Saturdays at the High Desert Museum
Want to spend a day for free at the High Desert Museum? The dates have been set for the two Mid Oregon-sponsored free days at the museum on Highway 97 just south of Bend. The first date is Saturday, January 27th, and the second is Saturday, February 24th. The museum, a fixture in Central Oregon since 1982, is open from 10 am to 4 pm. Anyone can take in the museum and its exhibits these days at no charge. Credit union membership is not required.
Who do you know that would benefit from a free day in this quality educational and fun environment? Other family members? Co-workers or neighbors? Young families and others who might have a difficult time with admission fees? Would you share this opportunities with anyone and everyone you know?
High Desert Museum is Top Rated Opportunity
The High Desert Museum is consistently rated as the top Central Oregon attraction by Trip Advisor. With 135 acres and more than 100,000 square feet of exhibit space, it’s a “must see” for anyone in Central Oregon. Get a close-up view of native wildlife, such as river otters, bobcat, porcupine and badger. Talk with historic characters who share tales of early Oregon explorers and settlers. Visit an authentic homestead and sawmill from 1904. The attraction includes a Museum store and café.
Mid Oregon is proud to offer this opportunity to Central Oregon residents, and is thankful for the partnership and excellence provided by the High Desert Museum staff and volunteers. Together we want to ensure thousands in Central Oregon can see the museum these days.
Stay tuned for future details on parking, shuttle service and more!
For more information about the museum, its exhibits and other details, visit www.highdesertmuseum.com.
Watch the 2017 Free Family Saturdays Video:
Freezer Tips for Smart Savers
No one likes throwing away food, especially if you’re trying to save money. But what do you do with those fresh string beans you got on sale that may not get eaten before they go bad? Freeze them. Follow these handy freezer tips for smart savers and you’ll be able you to enjoy your favorite foods for months.
Vegetables
It’s best to freeze veggies when they’re fresh. Blanch them first. This stops the enzymes that cause vegetables to lose their flavor, color, and nutritional value. Blanching time is crucial, but it also varies depending on the vegetable, so check the National Center of Home Food Preservation’s website for blanching times. After the recommended time, dunk the vegetables in ice water for the same amount of time, then drain them thoroughly. Finally pack them into freezer bags or freezer safe plastic containers and be sure to mark each container clearly with the name of the item and date. When you’re ready to cook your veggies, throw them in the pot while they’re still frozen.
Fruit
Very ripe fruit is perfect for smoothies. First wash them. If they’re bananas, remove them from their peels. Then chop them up, bag them, and put them in the freezer. You can leave grapes whole before freezing and use them later as ice cubes in your favorite drinks.
Meat
You can freeze meat in the store wrapper for a month or two, but if you’re going to keep it longer, add a second wrapping to maintain quality and prevent freezer burn. You can use airtight heavy-duty freezer foil, freezer paper or place the package inside a freezer bag. If food does get freezer burn, it is still safe to eat, though it may be dry in spots.
Dairy
Milk, hard cheese and egg whites (not the yolks) freeze well. Store milk in plastic jugs, not glass or paper. Cheese should be wrapped tightly in plastic wrap. Egg whites can be poured into a freezer bag — just make sure to note how many eggs you used.
Herbs
Make simple herb butters by combining fresh herbs with softened butter and crushed garlic. Wrap them in plastic wrap and pop them in the freezer. You can also make flavored oil cubes by tearing your favorite fresh herbs into ice cube trays and filling each compartment with olive or canola oil before freezing. They can go straight into the pan when you’re ready to use them.
It’s very important to clearly mark the date and description of each item so you don’t have a freezer full of mysteries. Most vegetables can be stored for 8 to 12 months, fruits for 6 to 9 months, and dairy products and leftover meals are safe for up to 3 months.
For more information, go to the USDA Food Safety and Inspection Service at www.fsis.usda.gov.
Go to the USDA Website