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CREDIT UNION FINANCING VS. DEALER FINANCING:WHAT’S THE DIFFERENCE? . . . . . . . . . . . . . . . . . . . . . . .2Why it's likely better to head to the credit unioninstead of getting a loan from the dealer.

THE SCHOOL LOAN PROGRAM OVERHAUL . . . . . . . . . .4How recent changes to the federal studentloan program will affect current students, futurestudents and past students looking toconsolidate loans.

BECOMING YOUR OWN BOSS . . . . . . . . . . . . . . . . . . . .6What you need to do to get set up financiallyand how to deal with paying taxes and otherpesky problems your employer used to takecare of for you.

LONG-TERM CARE INSURANCE:WHAT YOU NEED TO KNOW . . . . . . . . . . . . . . . . . . . . . .7You can do your pocketbook a favor bypurchasing a long-term care policy, but only ifyou buy the right one for your needs.

SHOULD YOU ROLL TO A ROTH? . . . . . . . . . . . . . . . . . .8Thanks to a recent change in the tax code,everyone is eligible for a Roth IRA rollover,regardless of income level. Not everyone willbenefit from one, however.

PAYDAY LENDERS: QUICK CASH AT A PRICE . . . . . .10Why you should steer clear of payday lenders,and what you can do if you’re really in a bind.

IS NEWER ALWAYS BETTER?. . . . . . . . . . . . . . . . . . . .12Save money by buying secondhand.

Table ofContents

ISSUE: FALL 20102

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Written by Kate Esposito

Edited by Marbury Wethered

Produced by Visions, Ink. ©2010

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Your vehicle is not just a means ofgetting from here to there. It can

also be a status symbol, a retreat fromyour day-to-day life or a passport toadventure. Even if it’s not any of thesethings, it is a significant investment —one that most people don’t pay for withcash. If you’re a lottery winner or a verydiligent saver, perhaps you’re theexception, but if you’re the rule, youshould consider options beyond whatthe dealer offers you — particularly anauto loan from your credit union.

You’re likely to get a better deal at yourcredit union than you would anywhereelse. The reason is that credit unionsaren’t out to make a lot of money off offinancing. They don’t have to, becausethey don’t have stockholders to cater to.They use the money they earn to runthe credit union and to provide themembers with better products andservices or savings on existing ones.

Here’s the difference . . .VERY LITTLE FINE PRINT – What’s in the fine print will often ruin what lookedlike a good deal. For instance, you find that a loan with a super-low rate is only good oncertain models or is only good for a very short term, like 12 or 24 months.

NO FRONT-LOADED INTEREST – Some dealers follow the Rule of 78s, whichmeans they load the interest onto the front of the loan. If you pay your loan off early,you don’t get much of a discount at all. Credit unions always use the simple interestmethod with an annual percentage rate, so you don’t have this problem. (Plus, there’snever any prepayment penalty.) This can make credit union rates seem higher when theyreally aren’t. Look closely at the paperwork.

REBATE-FRIENDLY FINANCING – The dealer may offer you a better financingpackage if you agree to pass up a substantial manufacturer’s rebate. The dealer doesn’tpay anything for the rebate, so you’d think you’d be able to take advantage of it and stillget the best financing deal.

PREAPPROVALS – You can get your loan from your credit union before you evenstart shopping. That way you’ll always know what you can afford. And ask the lendingdepartment if you can get the credit union’s financing right at the dealer. That’s the easiestway to avoid having to hear a financing sales pitch from the person drawing up the papers— and it may be the only time you should get your financing at the dealership!

Remember, if you already have a dealership “deal” that’s costing you too much, you maystill be able to get credit union financing. See if the credit union can pay off your currentloan and provide you with a new one that will save you money.

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You’ll often getbetter deals oncars at the end ofthe month,whendealers are anxiousto make quotas.

NEGOTIATINGYOUR BEST PRICEThe idea of haggling with a car salesperson can beintimidating, and that’s how many of them like it. Don’tlet the pressure cost you money you don’t need to bespending. Instead, prepare for the negotiation inadvance by committing these four points to memory:

1 Know what you want and how much it should cost.Do some research on the vehicle you plan to buy,including its options packages. Then go toEdmunds.com and find the True Market Value Price.This number may not be the lowest you can get,but it certainly won’t be the highest. Instead, it isone that proves to be a good deal for both youand the seller. Use it as your jumping off point, anddon’t go any higher than that.

2 Make the seller throw out a number first if at allpossible. Don’t fall into the trap of tellingsalespeople how much you can afford to pay. It’stoo easy for them to turn whatever number you sayinto monthly payment-sized chunks. Tell them youwant to agree on a price before you even discussfinancing.

3 Don’t give in to the salesperson’s pressuring. There’sno reason you have to make a decisionimmediately, no matter what the salesperson tellsyou. Salespeople know that once you leave thelot it’s less likely you’ll buy a car from them.They’ll say a lot of things to try to get you to stay.Never give up your right to walk away.

4 Ask for what you want. If your price is too low,you’ll soon find out, but if you don’t ask for it, youcould miss out on a great deal. Don’t worry; nosalesperson worth your time and business will laughat you.

See if your credit union has haggle-free sales,such as the ones offered by ABCD Buyers Club.That’s a good way for anyone to get a fairprice without a lot of wheeling and dealing.

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The passage of President Obama’s healthcare bill got a lot of headlines. Whatwas not as highly publicized was something that was tacked onto it: a

complete overhaul of the federal student loan program. If you’re currently astudent, plan to be one soon, or are paying off your federal loans right now, keepreading. Changes that were put into place on July 1 of this year could seriouslyaffect your financial life.

What is arguably the biggest change to occur is this: you can no longer borrowfederal money through a private venture, such as your credit union, using theFederal Family Education Loan Program. If you already have a Stafford or PLUSloan through your credit union, you are allowed to keep your current financing,but — and this is a big but — you cannot get a new federal loan using credit unionfinancing, and you cannot consolidate existing direct loans with a private lender.

Instead, if you want to borrow more money, you will have to borrow directly fromthe U.S. Department of Education. If you want to consolidate federal money thatis not already under the care of a private institution, you will have to do thatthrough the government too.

This doesn’t mean you can’t get a school loan from anywhere but the federalgovernment; you just can’t get a federal loan any other way. You can still borrowunsubsidized funds from the credit union or from any other financial institution,but you’ll have no choice of lenders for federal money. The hope is that the

THE SCHOOL LOANPROGRAM

Overhaul

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government will save money thanks tothis policy change since it will no longerhave to insure what are essentially privateloans.

Some of this money the governmentplans to save is set to be funneled todirect lending and Pell grants to handlethe growing number of students who willborrow or consolidate directly throughthe federal government.

While this change is a pretty big deal, itis only one of several. Here are someother changes that will take effect in2014:

Lower IBR Payment Limits —Students eligible for the Income BasedRepayment program will see theirminimum payment requirement capsdrop from 15% of their income to 10%of their income.

Lower IBR Repayment Periods —These same individuals will see their loanforgiveness time shrink from 25 years to

20 years. This means that ifthey make regular, on-timepayments for 20 years, theywon’t have to pay off anyremaining loan balance. Thetime could be shorter still if astudent goes into publicservice as a career.

It’s a good idea to talk toyour tax advisor to see ifyou’re eligible for thisprogram.

While students with greatfinancial need often makeout best borrowing moneyfor school through thegovernment, others maybenefit more by getting privateloans from their credit unions.A credit union loan can helppay for expenses a federal loanmay not cover, such as off-campus lodging, mealsand books.

Tips for the College BoundAre you going off to college? Then this is likely to be the first timeyou’ve had to manage your financial life on your own — or atleast with just the help of a monthly call to Mom or Dad.Here’s ashort list of things to do to get off on the right foot.

Get a student credit card. These cards have low limits, soyou can’t use them for spur of the moment trips to Vegas evenif you want to. They’re perfect for big expenses, like books. Plus, they’llhelp you build a credit history.

Open a checking account. It’s time to start paying attention to how much you earnand how much you spend — and to work to put these numbers in balance. If youdon’t trust yourself with a credit card, get a debit card instead. Then you won’t have toworry about interest charges. Just don’t spend what you don’t have.

Start saving every month. Even if you can save only $10 a month, you should startnow if you haven’t already. Believe it or not, college is the best time to start thinkingabout saving for your retirement. The longer you save, the richer you’ll be when youleave the working world.

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Some consider working for yourself tobe part of the American dream. It can

be great to set your own hours, be yourown boss and, if you work at home, workin your pajamas. But if you don’t manageyour business right, the dream can soonturn into a nightmare. You have to thinkof your business as an employer, even ifyou are the only employee. If you’re notready to do that, you may want to makeit a hobby on the side.

HOW TO GET SET UPThe beauty of starting a business is thatyou don’t have to do much of anythingto begin. You can declare yourself a soleproprietorship and just get to work,using your Social Security number asyour tax ID. It’s a good idea to come upwith a business name and open a savingsand checking account in that name,especially if you will be selling a producton a regular basis. If you need to make alot of purchases for your business, youshould also consider a company creditcard. This will help you immensely cometax time, since you’ll be able to keep yourpersonal and business expenses separate.

SOLE PROPRIETORSHIP VERSUSINCORPORATIONThe problem with setting up a soleproprietorship, even though it’s easy, is thatit doesn’t provide you with much legalprotection. Your personal assets and yourbusiness assets are basically tied together,which means your car, house and bankaccount could be on the line if somethinggoes wrong. If that makes you nervous,you should look into setting your businessup as a corporation. Check with the SmallBusiness Administration to see what thatinvolves. (For one thing, it will involvehaving to file certain documents every yearand paying some fees when you do.)

There are two main types ofcorporations: the limited liabilitycorporation (LLC) and the Scorporation. An S corporation hasshareholders; an LLC does not.

Setting up a corporation isespecially important if you’re in aline of work where you’re susceptibleto lawsuits; for example, providingsome type of medical service.

MANAGING YOUR TIMEWhether you decide to work at homeor to rent out an office space, you’llhave to learn to make your own hours— and to use those hours to actuallywork. When you don’t have asupervisor watching over your shoulderit can be tempting to declare a movieday or sleep a few extra hours — everymorning. This is not going to makeyou money, though. You have toremember that your time has value, andyou need to spend it wisely. If you’remore of a morning person, get to “work”early. If you’re a night owl, set your hoursfor the evening. Just make sure you geteverything done you need to get done.Writing up a list of tasks at the end of eachworkday can help. Allow yourself a fewweeks to get into the swing of things if youneed to, but you must set up a schedule.

DOING YOUR TAXESAs a self-employed person, you no longerhave to dread April 15. You now have todread April 15, June 15, October 15 andJanuary 15. These are your estimated taxdeadlines. Forget them and you could bein for some serious fines. Since youremployer (i.e., you) doesn’t participate inthe regular pay-as-you-go tax system,you’ll have to keep up during the year bymaking four regular payments. They’re

called estimatedtaxes, because you

have to guess how muchyou’ll make during the entire

year. It can be hard to gauge, and youmay have to reassess your projectedearnings halfway through.

You might have to pay significantly morethan you’re used to due to what’s knownas “self-employment tax,” which basicallyencompasses payroll taxes that used to bethe responsibility of your traditionalemployer. An accountant can proveinvaluable if you are completely lost. Youcan also find out more on the IRS’swebsite. Don’t forget you have state taxestoo, which you may have to pay upfrontat the beginning of each tax year.

Before you can even begin thinkingabout registration and taxes, you have tocome up with a business idea and a plan.Make sure you will be doing somethingyou love. Otherwise, you’ll find you haveto drag yourself out of bed — even if it isjust to the office down the hall.

BECOMING YOUR

Own Boss

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As life expectancy grows, so does theneed to plan for the more distant

future. While you may have yourinvestments in place for when you retire,there is something else you need to thinkabout: long-term care. You never knowwhen you or a loved one may need theservices of a nursing home, assisted livingfacility or in-home healthcare provider,either on a permanent basis ortemporarily, such as when recoveringfrom a hospitalization.

According to a recent study by theMetLife Mature Market Institute, oneyear of nursing home care cancost an average of $80,000. Yep,that’s as much as two or threenew cars would cost. If you don’twant to pay that much out ofpocket or force your loved onesto do so, you should look intolong-term care insurance.

Before looking for an affordable policyon your own, see if there’s a policyavailable to you at a group rate, eitherthrough your credit union or youremployer. And if you have a lifeinsurance policy, find out whether it hasa long-term care wrap, which wouldallow you to use some of your policy’svalue to cover long-term care.

WHAT TO LOOK FORIN A POLICYWatch out for pre-existing conditionclauses. New healthcare legislation

notwithstanding, it’s still more difficultto obtain insurance if you have anexisting medical condition, such asdiabetes or heart disease. This means it’sbest to purchase your policy early, beforeyou develop one of these conditions. If

that’s not an option, read pre-existingcondition clauses carefully. You don’twant to find out too late that you won’tbe able to benefit from your coverage orthat your premiums will be, well,premium.

Find out how you become eligible forbenefits. Sometimes your doctor candeclare that you need to have long-termcare. Other times, you have to wait forthe insurance company to approve it.This can be a serious problem, especiallyif there’s a lot of red tape. You don’t wantto suffer — either physically orfinancially — in the meantime.

Consider your marriage. While there isno insurance available to protect yourwedding vows, having said them can helpyou here. If you purchase a policy with ashared care option, you can split thecoverage between the two of you. That

way if one of yourequires more care thanthe other you cantransfer the moneybetween policyholdersto make up for it.

Be mindful of inflation. If you buy yourpolicy when you’re relatively young, it’simportant to take note that $10,000 willlikely buy a lot more today than it will20 years from now. See if your benefitsincrease as costs go up — without amatching increase in your annualpremium.

Make sure that any company you get apolicy from has a history of financialsoundness and reliability. You want to beconfident that your insurer will still bearound when you need to use yourbenefits. Otherwise, what’s the point ofinsuring yourself?

{One year of nursinghome care can costan average of $80,000.

LONG-TERM CAREINSURANCE:What YouNeed toKnow

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Individual RetirementAccounts (IRAs) can certainly

be confusing. There are a lot ofrules that have to be followed and alot of different tax laws that apply tothem. Since digging through the fineprint is so difficult already, you mayhave overlooked an important IRAchange that occurred this year. Everyonewith a traditional IRA is now eligible toconvert it to a Roth IRA, regardless oftheir income. Before, you had to makeless than $100,000 a year. (The incomelimits for annual contributions to RothIRAs are still in effect, however.) If youhave a traditional IRA and are wonderingwhether you should roll it over to a RothIRA, you first need to understand howone differs from the other.

TRADITIONAL IRAsThe traditional IRA is the one that’s beenaround the longest. It gives you taxbenefits now, since you can usuallydeduct your contributions on yourreturn for the year when you put themin. Essentially, when you put money intoa traditional IRA, you’re lowering yourtaxable income for the year. Soundsgreat, right? The caveat is that when youtake the money out of the account youhave to pay taxes on the distributionsand on the dividends you’ve earned overthe years.

You can’t avoid the taxes by never takingthe money out. Distributions are requiredwhen you reach age 70½.

This account makes a lot of sense forpeople who expect to be in a lower taxbracket when they retire. They could endup saving a considerable amount ofmoney. It also makes sense for peopleretiring soon.

ROTH IRAsThis brings us to the Roth, which worksquite differently. The money you putinto a Roth IRA is not tax deferred. Youhave to pay income taxes on yourdeposits. The beauty of the Roth is thatit grows tax-free. That means you don’thave to payany taxes onthe moneywhen you takeit out, and youdon’t have topay any taxeson the dividends — ever. You could earnthousands of dollars of income you don’thave to surrender to Uncle Sam. That’swhat makes this type of IRA so appealingto so many people.

So should you roll to a Roth? Sorry, butthe answer is, it depends. You might wantto consider it if:

• You’re at least 10 years away fromretirement. That means you’ll have alot of time to accrue those covetedtax-free dividends.

• You expect to make more money atretirement age than you do now.That could put you in a higher taxbracket in the future, which meansyou’ll save some dough by payingtaxes on that income now.

Depending on your income, one reasonyou might not want to convert to a RothIRA is not being able to makecontributions to it after the conversion.You won’t be permitted to add anything

SHOULD YOU ROLL TO A

Roth?

{The beauty of the Rothis that it grows tax-free.

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more to it if your income’s too high. (See“Compare Your IRA Options.”)

IMMEDIATE TAXCONSIDERATIONSNote that if you have a child in collegeand are applying for federal financial aida Roth IRA conversion could reduce theaid you’re eligible for significantly. Why?Because your taxable income wouldincrease.

Yes, if you roll over money from atraditional IRA to a Roth IRA you willhave to pay taxes on that money. If youhave a large amount invested right now,you could take quite a hit. Since the ruleis new, you’re allowed to pay the taxesover two years, but you still need tothink about whether you can reallyafford them.

Of course, you don’t have to movemoney to start a Roth IRA. You can

begin one as a completely newinvestment to diversify your portfolio.Your credit union member servicerepresentatives can help you plan youraccount and start saving.

Still not sure whether a Roth is right foryou? Talk to your tax advisor or use theonline calculator athttps://calcsuite.fidelity.com/rothconveval/app/launchpage.htm.

COMPARE YOUR IRA OPTIONSBasic Features Contributions may be tax-deductible. Funds

accumulate tax-free. Required minimumdistributions at age 701⁄2.

Tax-free, non-deductible IRA. After five years,withdrawals of principal and earnings are tax-freefor holders 591⁄2 or older.

Are contributionstax-deductible?

Maybe. If neither you nor your spouse is covered by aretirement plan at work, then your contributions aregenerally fully tax-deductible, whatever your incomelevel. Otherwise the deductibility declines to zerobetween certain modified adjusted gross income ranges.

No.

When cancontributionsbe made?

Contributions may be made up to the tax-filingdeadline. I.e., for 2010 contributions, members haveuntil April 15, 2011, to contribute.

Contributions may be made up to the tax-filingdeadline. I.e., for 2010 contributions, members haveuntil April 15, 2011, to contribute. However, becausethere is no tax deduction, the tax deadline reallyshouldn’t matter.

Is there anincome limit?

No. Yes. If you’re a single filer, your ability to contribute isphased out as your adjusted income reaches the$105,000–$120,000 range; if you’re married filingjointly, it’s phased out in the $167,000–$177,000range. These restrictions do not apply to funds rolled overfrom traditional IRAs or other qualified retirement plans.

What’s thecontribution limit?

If you’re under 50 at the end of the tax year, it’s the lesser of $5,000 or 100% of your taxable compensation. Ifyou’re 50 or over, it’s the lessser of $6,000 or 100% of compensation. Your total contribution to traditional andRoth IRAs cannot exceed this amount in one year.

When do youhave to beginmakingwithdrawals?

You must make minimum withdrawals beginningafter age 701⁄2.

Never.

Are qualifieddistributionstaxed?

All non-deductible contributions are received tax-free.All earnings and deductible contributions are taxed atthe ordinary income tax rate when withdrawn.

No. Contributions are not taxable upon withdrawal.Earnings are not taxable if:• The distribution occurs after the fifth tax year since

your first contribution to your Roth IRA• You are 59½ or older or disabled or you withdraw

no more than $10,000 for first-time homebuyerexpenses

• The distribution occurs after your death

When is there a10% penalty tax?

When distributions are made before age 591⁄2, unless for death/disability, to pay major medical expenses, to pay medicalinsurance premiums while unemployed, to purchase a first home (up to $10,000) or to pay higher education expenses.

Traditional IRA Roth IRA

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QUICK CASH AT A PRICE

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Bad credit, no credit — no problem!Got a job? Got a car? Got a boat?

Then you’ve got a loan! If you hear aspiel like this on TV or read it insomething you got in the mail, apredatory lender is trying to attract yourbusiness. You never see the part thatcomes next: “And then we’ll charge yousuch a high rate of interest on what youborrow that you’ll be paying it backuntil your great-grandchildren graduatefrom college.”

THE EASY MONEY TRAPOne of the most common types of theseless than savory outfits is the paydaylender. They attract people who are in afinancial bind and need a fairly smallamount of money right this second,usually for a bill that’s due or to avoidbeing late on a loan payment. You have topromise to pay the money back as soon asyou get your next paycheck, plusa fee of about 25% of theamount you borrowed.

So, basically, if you borrow$100, you’re paying back $125,and that’s if you repay the loanwithin a week or two. Thisequates to taking out a loan with anannual percentage rate of more than500%. When the deadline arrives, youmust repay that existing loan with cash.If you can’t, you have to take out another

payday loan, which has another feeattached to it, and everything goesdownhill from there.

Payday lenders lure their customers bypromising them quick cash without acredit check. All the customer has toprovide is notice that he has a job. Youmay be tempted to take out one of theseloans if you’re in a tight situation,thinking, “Well, that fee isn’t much if Ionly use it this once.” That’s how you getcaught in the easy money trap.

WRANGLING OVERREGULATIONAbout 90% of individuals who patronizepayday lenders have used their services atleast five times, according to the Centerfor Responsible Lending. Senator KayHagan (D-N.C.) offers an even moresobering statistic: that 60 percent ofpayday loan recipients have taken out 12

or more of these loans in the past year. InMay, Hagan introduced an amendment toSen. Christopher Dodd’s (D-Conn.)financial regulatory reform bill that wouldhave limited borrowers to six payday loans

per year. The industry lobbied hardagainst her amendment and won.

However, Dodd’s bill, which establishes aConsumer Financial Protection Agency,passed, and the final version of thelegislation may have become law by thetime you read this. That agency wouldhave broad authority over payday lenders.

Washington, D.C., and 16 states havelaws that cap the annual percentage ratespayday lenders can charge. Despite theseregulations, the rates are still muchhigher than what a person would getwith a typical personal loan or a creditcard (even with the card’s highest defaultrate in effect).

Payday lenders, overall, feel that they aredoing nothing wrong, althoughproviding the “service” nets them $6.5billion a year, most of it from lower-income individuals who feel they have noother choices. Some have poor credithistories, some lack bank accountsbecause they fear the fees associated withthem, and some just don’t know aboutthe other options available to them.

If you’re thinking about taking out apayday loan, don’t. You do have otheroptions. See “3 Things to Do Before YouTake Out a Payday Loan” for somebetter ideas.

{“If you borrow $100, you’repaying back $125, andthat’s if you repay the loanwithin a week or two.”

BEFORE YOU TAKEOUT A PAYDAY LOAN

1 Talk to your creditors andask if you can work outpayment plans with themor if it would be possibleto get reduced rates onyour debts.

2 See what the late paymentfee is for the payment that’sdue. It’s often lower thanwhat payday lenderscharge. Just be sure to paywithin 30 days of the duedate so you don’t end upwith a delinquency on yourcredit report.

3 Come to the credit unionand apply for a low-ratesignature loan or securedloan — even if you have aless than stellar credit history.Remember, credit unionslook at your individualsituation, not at a couple ofnumbers in a database.

3 Things to DoThink twice before you take out a payday loan. There are many other avenues youshould explore first.

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While it can be nice to have bright,shiny new items, they also come

with a bright, shiny, and often large,price tag. There are lots of things that arejust as good, and much less expensive, ifyou buy them used.

BOOKSYou never know what gems you’ll find ata used bookstore. Some of them areactually worth more money the olderthey are, especially coveted first editions.And you can usually find the latestbestsellers for about half the price you’dpay in a regular bookstore. There are lotsof people who read them once and thensimply pass them on.

VIDEO GAMES AND DVDsEven if you don’t usually rent from thevideo store, there’s still a great reason tostop by. You can often get used DVDsfor as little as $5 and used video gamesfor only slightly more. Check them forscratches before you buy them. The vastmajority at most shops are just as goodas new.

BABY CLOTHESThe annoying thing about babies is thatthey grow up so fast. That means theyoutgrow their clothing in no time at all.While it can be fun to shop for new babyclothes, it won’t gain you any financialpoints. Instead, get hand-me-downs froma friend or relative with a slightly olderlittle one, or shop at your local thrift store.

CARSSince vehicles lose about 25% of theirvalue within the first two years, it’s really

a losing battle to try to make yourmoney back on a new car. Buy one that’sjust a couple of years out of the factoryand you could save thousands of dollars.Your new car will be a used one soonenough anyway. Insurance will likely becheaper too.

MUSICAL INSTRUMENTSWhile you’ll definitely want to clean andsterilize a used tuba before you give it toyour child, there’s little point inproviding Junior with a brand new one,especially if he’s just started takinglessons. Fact is, a lot of instruments getabandoned when a child decides he orshe would rather do something else.Pawnshops often have a pretty goodstock due to just such abandonments.

ANIMALSWhile you probably don’t like to think ofyour pet as used, it’s a fact that you’ll savesome dough by rescuing one from ashelter rather than buying one from a petstore or a breeder. Best of all, you may besaving that animal’s life.

IS NEWER ALWAYS

Better?

Check out communityclassifieds sites likeCraigslist and Backpage.(Yes, you can even findcars on these sites.) Anddon’t overlook the obvious:yard sales. They’ve alwaysbeen an excellent placeto pick up low-pricedsecondhand items.

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Come Check Out Our FREE Fall Seminar Series!We have some great seminars lined up this fall with topics that we hopeare relevant and useful to your financial life. All members are welcome toparticipate in any of the following seminars:

ESTATE PLANNINGHOME BUYINGINTRODUCTION TO CREDIT SCORES & CREDIT REPORTSCAR BUYINGFRAUD AWARENESS

For more information and registration details, visit us atBFSFCU.org/seminars.

Manage Your Billsfrom Anywhere

Enroll in BFSFCU® Online BillPayer and experience theconvenience of paying all of your bills online.1

; Manage your bills from anywhere in the world — allyou need is an internet connection!

; Pay up to 25 bills per month for free.2

; There are no monthly service fees as long as youcontinue to use it.3

; You may set up automated payments so all your billswill be paid on time.

; Online BillPayer is securely located within ourOnline Banking system to ensure that your personaland financial information is protected.

Simply click on the Online BillPayer tab in theOnline Banking navigation menu to get started.

If you are not yet an Online Banking user, visitBFSFCU.org/OnlineBanking to download and completethe Online Banking Security Number request form.

1 Applies to billing addresses within the United States.2 A $0.30 transaction fee will apply to each payment in excess of 25 per month.3 If you do not use Online BillPayer to make a payment for 90 days, a $5.95per month inactivity fee will apply.

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P.O. Box 27755Washington, D.C. 20038-7755

U.S.A.

PRSRT STDU.S. POSTAGE

PAIDVISIONS INK

MEMBER SERVICES:202.212.64001.800.9BFSFCU

LENDING SERVICES:202.212.6450

GENERAL E-MAIL:[email protected]

BFSFCU.org

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NO ORIGINATION FEES

NO PREPAYMENT PENALTIES

FLEXIBLE PAYMENT OPTIONS(including fully deferring payment while in school)

COMPETITIVE LOAN RATES

BFSFCU® offers private student loans to helpyou fill the funding gaps that federal aid canleave behind. Through CU Student Choice, weare able to help members finance a highereducation without a higher price tag with:

Visit BFSFCU.studentchoice.org to learnmore or call us 24x7 at 866.614.7782 tospeak with a Student Loan Representative.

A Better Way toPay for College