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.
High Desert Museum 2020 Free Days!
Free Family Saturdays in January and February
Mid Oregon Credit Union welcomes the community to enjoy free admission to the High Desert Museum on January 25 and February 29, 2020. The credit union’s annual “Free Family Saturday” event gives local residents the opportunity to explore art, wildlife and living history right in Central Oregon’s backyard. Located five minutes south from Bend on Highway 97, the High Desert Museum is open from 10 a.m. to 4 p.m., with Rimrock Café open from 11 a.m. to 3 p.m. and Silver Sage Trading open from 11 a.m. to 4 p.m.
See the January 25 Free Day Event on Facebook– Register your interest in going!
See the February Free Day Event on Facebook– Register your interest in going!
High Desert Museum Exhibits
“Mid Oregon Credit Union’s generous support of two Free Family Saturdays each year welcomes all members of the community to experience the Museum,” says High Desert Museum Executive Director Dana Whitelaw, Ph.D. “The well-known Spirit of the West and By Hand Through Memory exhibitions are available to explore, as well as a few limited-engagement exhibitions, such as Fueling the Future/Energizando el Futuro and Nature’s Resilience. In addition, a new exhibition, Infinite Moment: Burning Man on the Horizon, will be featured during the February 29 Free Saturday.”
Visitors can also learn about the role river otters play in the ecosystems of the High Desert in the Otter Encounter, an expert-led talk at the Autzen Otter Exhibit that will take place on the hour from 11 a.m. to 2 p.m.
Entire Central Oregon Community Welcome
“Free Family Saturdays is one of our signature community events every year,” says Kyle Frick, Mid Oregon Credit Union’s VP of Marketing. “Our team is always eager to open the doors and welcome the entire 
community to the Museum to explore. No matter the weather, Free Family Saturdays brings all ages to spend the day together enjoying this treasured Central Oregon destination.”
The Museum offers a 10 percent discount on all memberships purchased on Free Family Saturdays at the Museum, giving families the opportunity to save on future visits. For more information about exhibits, wildlife encounters, living history, and events, visit the Museum’s website at www.highdesertmuseum.org.
About the High Desert Museum
The High Desert Museum opened in 1982 and brings regional wildlife, culture, art and natural resources together to promote an understanding of the natural and cultural heritage of North America’s High Desert country. The Museum uses indoor and outdoor exhibits, wildlife in natural habitats, and living history demonstrations to help people discover and appreciate the High Desert. The Museum is a 501(c)3 nonprofit organization accredited by the American Alliance of Museums, is a Smithsonian Affiliate and is the winner of the 2019 Western Museums Association’s Charles Redd Award for Exhibition Excellence. Visit www.highdesertmuseum.org
Bad Money Habits and How to Fix Them
Learning how to use money wisely is an essential skill that isn’t always taught to us as children. Some of us pick up bad money habits on our journey to adulthood. Often, we’re just not being mindful of where our money goes. It’s important to know your bad money habits, and how to fix them.
Five Bad Money Habits
See if you have any of the following bad money habits. Then read on to learn how to break them and replace them with good habits.
1. Use credit cards to pay for a lifestyle beyond your means – It’s easy to spend wildly with a card; you don’t see the money slip away until you get the monthly bill. If you can’t pay off your credit card balance each month, then at least pay more than the minimum payment. Remember that even if you don’t use the card, the interest charges will compound, increasing your total debt. To break a credit card habit, try using cash or your debit card instead for a few weeks and look at your checking account balance every day. You’ll quickly learn to stop and think twice before making a purchase.
2. Living paycheck to paycheck – If you’re spending as much as you earn, you’ll always be short of funds by the end of the month for your rent and bills, and you’ll never be able to save. So, first, get a clear picture of your essential expenses: your rent, utilities, gas, insurance, groceries. Add them up, then deduct that total from your monthly take-home pay. Ideally, essential expenses should take up only 50% of your income. If it’s more, then you’ll need to either find ways to reduce those expenses or get another job Of the remaining 50% of your monthly income, use at least 20% to pay down debt and add to savings and use the last 30% for everything else you want.
Emergency Funds Are Crucial
3. Not saving for an emergency fund or retirement – Life is unpredictable; you can’t always tell when your job may be downsized or your car needs a major repair. That’s why it’s important to build an emergency saving account that has enough to cover at least 3 months of expenses. Relying on a credit card will only send you further into debt. It’s also important to begin saving for retirement. The younger you are when you start, the more you’ll earn through the magic of compounding interest.
4. Keeping subscriptions you don’t use – If you have an automatic recurring expense, like a gym membership or a streaming service, but you aren’t using them consistently, then why are you paying for them? Review all subscriptions and if you haven’t used them on a regular basis for 3 months, cancel them. Put the money you save into your savings.
Uncontrollable Spending?
5. Not tracking spending. Just try it one month to get a clear idea of where you are spending your money. Keep a receipt for every purchase, categorize them in a budgeting app or spreadsheet, and add them up. You may discover that buying lunch everyday instead of making your own is costing you about $200 every month, money that could be used to pay down a student loan or credit card bill.
Like any bad habit, it will take some work to change bad money habits to good ones. Just know that the peace of mind a healthy financial status brings is priceless.
6 Ways to Get Financially Fit in 2020
About half of Americans make New Year’s resolutions each January, but only about 20% of people keep them. Getting into shape and achieving financial goals are among the most popular resolutions. (Statista.com).
While we can’t help you reach your ideal weight, we can share 6 ways to help you become financially fit in 2020:
1. Put your money on autopilot—Set up direct deposit, authorize electronic payments, and automate routine savings. Streamlining your finances with online tools not only saves time, it helps you avoid late fees and overdraft fees and makes saving easier.
2. Create a spending plan—Only about 40% of adults have a budget, according to the National Foundation for Credit Counseling. Use a free online budgeting tool, like Mint or PocketGuard, to keep track of expenses and compare it to your monthly take-home pay. See where you’re spending too much and make any necessary adjustments.
3. Build an emergency fund—Not having an emergency fund is like driving without wearing a seatbelt; it’s a risk that could ruin the rest of your life. More than half of Americans don’t have a rainy-day fund and 40% don’t even have $400 in cash saved for emergencies. You can start small, $10 to $20 per paycheck, but work to save 3 to 8 months of income. To make it easier, setup an automatic transfer from your checking to your savings account.
4. Increase your credit score—Pay all bills on time, every time; pay more than the minimum; don’t use more than 30% of your credit; avoid opening many new accounts in a short time period, and; keep the oldest existing credit (the longer a credit history, the better). Also, if you have parking tickets or library fines, pay them off. Debts are reported to a credit reporting agency and they can knock down your credit score.
5. Request your credit report—You want to make sure there are no errors and no one is using your credit unlawfully. Request one free credit report a year from each of the three major credit reporting bureaus by visiting annualcreditreport.com.
6. Beef up retirement funds—Make regular contributions to a retirement savings plan such as a 401(k) or IRA. If your company offers a 401(k) plan, contribute at least enough to meet the company match. If you don’t, it’s like leaving free money on the table. Also consider opening an IRA at your credit union.
We can help you with any or all of these ways to become financial fit in 2020. Come in to one of our seven Central Oregon branches to speak to one of our team. And start the new year off right!