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.
Affording Your First Apartment
Getting your first apartment is one of the big milestones in a young adult’s life. It can also be a little frightening since you don’t know exactly how much money you’ll need to get by. You might be concerned with affording your first apartment. Housing costs in Central Oregon are higher than usual right now. You will need to shop to find the one that fits your situation. But if you follow these easy tips, thriving in your apartment will be a breeze.
How Much Can You Afford?
1. Figure out how much rent you can afford. Find an apartment that costs between 25-35% of your gross monthly income (before taxes and deductions). Also, make sure the landlord tells you about any additional costs, like pet fees, parking, etc. Those fees will need to be included in your budget. If you find a place that is a bit more than you can comfortably afford, you’ll need to get a roommate — one you can rely on to pay their portion.
2. Factor in a security deposit. Many buildings require that you put down one month’s rent as a security deposit. The landlord holds that money until you move out. If you leave the place in good shape, you’ll get the money back. But if you don’t…
What About Your Spending Plan?
3. Create a budget. At first, keep it simple. If possible, use the 50/30/20 rule: 50% of your after-tax income should be spent on Needs, like rent, insurance, groceries, utilities; 30% for Wants, like dining out and entertainment; and 20% for savings, including your 401(k) and an emergency fund. Mid Oregon can help you figure out a spending plan. Check our periodic free budget workshops on our website, or come in to talk to one of our branch staff to point you in the right direction.
4. Get furniture and household items. But don’t get it all at once! Start with the basics, like a bed, shower curtain, pots and pans, etc. See what you can find at thrift shops before buying new.
Keeping Costs Down
After you move in, follow some of these tips to keep your living costs down.
• Eat in as often as possible and pack your lunch for work. A typical lunch can cost you between $8-10 dollars. At 7 meals per week, you’ll pay about $70. Per year, that’s $3,640! Eating in will save you serious money!
• Cancel the cable. The average cable bill is $65 per month or $780 per year. That could buy a lot of groceries instead. You can borrow popular cable shows and movies for free from your local library.
• Reduce energy bill. Adjust your thermostat in the winter so it’s 10-15 degrees cooler at night. Also turn off energy-hogging devices, like gaming consoles, when not in use.
Check articles on our Mid Oregon View blog for additional money-saving tips.
70th Anniversary of International Credit Union Day
Find Your Platinum Lining
October 18, 2018, will mark the 70th anniversary of International Credit Union Day. This year’s theme is “Find Your Platinum Lining.” It combines the traditional gift of platinum for 70th anniversaries with a play on the saying “every cloud has a silver lining.”
Credit unions all over the world will be celebrating the history and the success of the “People-not-Profit” philosophy. This year’s theme emphasizes the credit union movement’s loyalty to its members and its mission to provide them financial support and guidance.
MId Oregon Credit Union’s 60th Anniversary
This year Mid Oregon has been commemorating our 60th anniversary. Since our founding in 1957 by eight Prineville educators, Mid Oregon has been partnering with our members to provide the products and services to help them meet their needs and achieve their dreams. We believe that our focus on the people of Central Oregon has helped us grow from those original 8 to almost 32,000 members and over $300 Million in assets.
A Democratic Movement Over 150 Years Old
The movement began in the 1840s as a democratic consumer cooperative by weavers in Rochdale, England. Frustrated by bankers who denied them loans simply because they weren’t wealthy, the weavers and workers decided to pool their incomes and loan money to each other. In time, this cooperation put each member on solid financial ground and encouraged their own businesses to flourish.
The need for equitable financial institutions grew and, in 1971, the World Council of Credit Unions, Inc. (WOCCU) was created to help establish and maintain viable credit union movements. It has become the leading voice for advocacy and governance on behalf of the international credit union community.
Today, over 235 million people are served by credit unions in 109 countries and 6 continents. To learn more, read the the brief article, International Credit Union Day: A Brief History.
What You Need to Know About Medicare
Free Workshop, Consultations in La Pine: Choose the Best Medicare Plan
As more seniors turn 65 and age into Medicare, a growing number of local residents are overwhelmed by the changing coverage options. To help seniors in Central Oregon review and compare their Medicare plans, Bancorp Insurance and Mid Oregon Credit Union have teamed up to offer a FREE workshop entitled “What You Need to Know About Medicare” on October 18, 2018, 6 pm, at Mid Oregon Credit Union’s La Pine location.
This seminar is for those who are currently on Medicare or who will be turning 65 this year. In addition to the workshop, which will review each type of Medicare plan along with outlining plans available in South Deschutes, Northern Klamath, and Northern Lake Counties. One-on-one consultations may be scheduled at this event for a later date.
Prepare for 2019 Open Enrollment
This great opportunity to review and compare current Medicare plans will help local seniors save time and money during the 2019 open enrollment period.
Bancorp Insurance is the leading insurance agency in Deschutes South County for more than 35 years. Bancorp Insurance helps Medicare eligible individuals enroll in Medicare Supplements, Medicare Advantage and Part D Prescriptions Drug Plans with three dedicated staff members with 15 years combined experience to help you select the correct Medicare plan. contact them at 541-536-1726, 800-452-6826, or visit their website at www.bancorpinsurance.com.
Where to Go and How to Register
The Mid Oregon La Pine branch is located at 51675 Huntington Road, La Pine, from 6:00 p.m. to 8:00 p.m. Call 541-382-1795 or email info@midoregon.com to reserve your seat.