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.
Northwest Credit Unions Support Wildfire Victims
The credit unions of Oregon and Washington are mobilizing their foundation, in collaboration with the local Red Cross and the National Credit Union Foundation, to support victims of the wildfires scorching the Northwest.
Destructive wildfires are raging across Oregon and Washington. A fire near Twisp, Washington claimed the lives of three forest service firefighters yesterday, and Oregon Governor Kate Brown activated the state’s National Guard to help fight that state’s fires. Northwest Credit Unions Support Wildfire Victims as they mobilize their efforts, including Mid Oregon.
Fires Causing Devastation
The Canyon Creek Complex fires have already destroyed at least 36 homes and damaged 50 others. It currently threatens another 500 structures in the area, and authorities said the actual toll is likely to climb as crews continue to assess damage in the coming days. More than 70 structures have been destroyed in Washington’s Chelan Complex fires, which are burning in several areas around Lake Chelan.
Foundation Providing Support & Relief
The credit unions of Oregon and Washington are mobilizing their Northwest Credit Union Foundation (NWCUF) to provide financial support and relief to victims of the fires. The Foundation has created three relief funds—one for the Canyon Creek Complex fires in Oregon, one for the Chelan Complex fires in Washington, and a general fund to be directed where it’s most needed. It has seeded the two area-specific funds with $5,000 each and is collecting donations from the credit union community. All funds will be donated to the relief efforts of the Red Cross in Oregon and Washington.
Read more on www.nwcua.org
Students: Easy Ways to Cut Costs
College students are gaining confidence in personal finance management but unfortunately also have become less competent. A survey conducted by High One and Everfi recently found that in 2014, college students were more likely to use more than one credit card than they did in 2012, according to USA Today.
Considering that nearly two-thirds of undergrads take out student loans, and college seniors are graduating with an average loan balance close to $24,000, if students aren’t careful about spending, the first financial steps they take after college might send them in the wrong direction.
While college expenses may seem limitless, students can learn to manage them by avoiding these common money drains, according to CUNA’s member education department:
• Carrying a credit card balance. Many credit card companies lure borrowers with enticing offers, and then hit them with a hefty monthly interest charge on their accrued balance. According to Forbes, the average student graduates with $4,100 in credit card debt. Using a credit card is not a bad thing and actually can improve a credit score, but the key is to pay off the balance every month. If you don’t already have one, consider getting a Mid Oregon credit card, with low rates, no balance transfer and no cash advance fees.
• Going out to eat—a lot. Say you spend about $5 on a coffee and bagel for breakfast each morning and $8 on a sandwich or fast food for lunch and dinner. That means you’re spending more than $100 for five days of food—and these examples are modest. While it may take a few extra minutes each day, buying $100 worth of groceries and cooking at home will stretch your dollar, and can be healthier too;
• Buying new textbooks. According to the College Board, the average student at a four-year public college spends $1,200 on books and supplies annually. You can’t eliminate the cost completely, but there are ways to trim your textbook budget. Consider purchasing used textbooks online. You also can resell your textbooks via sites like Amazon Marketplace or Half.com after classes end. Textbook rentals also have become popular. The COCC Bookstore, which serves both COCC and OSU Cascades students, has purchasing and rental options, as well as a buyback program; and
• Not using campus resources. Most colleges assess fees, which help provide a range of student services beyond those covered by tuition. Since you’re already paying for these services, don’t waste the money elsewhere. For example, use the campus gym instead of paying for an additional gym membership and use campus technology resources instead of paying an offsite repair shop. Make positive and sound decisions to reach their financial goals.
How to Throw a Barbecue on a Budget
The sun is shining, the birds are chirping, and a faint scent of sizzling meat carries on the afternoon breeze: It must be grilling season. Forget about opening day; Memorial Day is the unofficial start to America’s true favorite pastime—tossing heaps of beef, chicken, and pork over open flame. There is no reason to break the bank while dishing out some of the best barbecue your neighborhood’s ever tasted. The trick? Hunting down deals and asking friends to chip in (this is, after all, a community event). Here’s everything you need to know to master the art of throwing a barbecue on a budget
Read more at SmartAboutMoney.org*
* Smart About Money is one of the many programs of the National Endowment for Financial Education®. NEFE® is an independent, nonprofit foundation committed to educating Americans on a broad range of financial topics and empowering them to make positive and sound decisions to reach their financial goals.