Modesto's First Federal Credit Union

Spring is often considered the best season to buy a home, but is it the right time for you in Modesto? With the housing market shifting and mortgage rates fluctuating, it’s essential to weigh the pros and cons before making a decision. Here’s what you need to know: ?? More Homes, More Competition: Spring typically sees a 20-30% increase in new listings, giving buyers more choices. However, this also means more competition, with bidding wars driving up prices. If you're looking for a deal, consider early spring before peak demand hits. ?? Interest Rates and Market Timing: Mortgage rates remain a key factor. In 2023, rates fluctuated between 6-7%, affecting affordability. Locking in a rate early or exploring rate buydowns with lenders can save you thousands over the life of your loan. ?? Local Market Trends Matter: In Modesto, home prices have risen 5% year-over-year, but inventory remains tight. Partnering with a local expert can help you identify hidden opportunities, such as off-market properties or motivated sellers willing to negotiate. Spring can be a great time to buy, but strategic timing is everything. Research, plan, and work with professionals who understand Modesto’s market to make the right move. Is this your season to buy? Let’s start the conversation. #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

Tax season doesn’t have to be stressful. With thoughtful preparation, you can minimize your tax bill and maximize your refund. Modesto’s First Federal Credit Union is here to support your financial journey with these actionable tips: ?? Organize Key Documents - Start early by gathering your W-2s, 1099s, and receipts for deductible expenses. Create a digital or physical folder to keep everything in one place. The IRS recommends keeping records for at least 3 years, but longer if you claim major deductions. For easier tracking, download statements directly from Modesto’s First FCU’s online banking platform. ?? Max Out Retirement Contributions - Contributions to tax-advantaged accounts like IRAs or 401(k)s can significantly reduce taxable income. For 2024, you can contribute up to $6,500 (or $7,500 if you’re 50+). These contributions may also boost your long-term savings. ?? Claim Education-Related Credits - If you or a dependent is attending college, the American Opportunity Tax Credit (AOTC) offers up to $2,500 per student for tuition, books, and fees. Ensure you have Form 1098-T from the school and track related expenses through Modesto’s First FCU account summaries for a complete picture. ?? Maximize State and Local Tax Deductions - California residents can deduct up to $10,000 in state and local taxes (SALT), including property taxes and DMV registration fees. Review your financial documents carefully to capture all eligible deductions. If you’re a Modesto resident, Modesto’s First FCU can help with clear transaction records to make this easier. ?? Standard Deduction vs. Itemizing - The standard deduction for 2024 is $13,850 for individuals and $27,700 for married couples filing jointly. Itemizing might be worth it if deductions like mortgage interest or medical expenses exceed this. Use Modesto’s First FCU mortgage statements and tools to calculate your potential savings. ?? Consider Professional Help or Tax Software - Filing errors can lead to costly delays or missed refunds. E-filed returns have a 1% error rate compared to 21% for paper filings. Trusted tax software or a local CPA can ensure accuracy and peace of mind. Modesto’s First FCU members often enjoy discounts on tax prep services through member benefits programs. At Modesto’s First Federal Credit Union, we’re committed to helping our community thrive during tax season and beyond. Let’s make this tax season your most successful one yet! #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

Valentine’s Day is all about celebrating love, not overspending! Modesto’s First FCU is here to help you create meaningful moments without breaking the bank. Here are some romantic, budget-friendly ideas to inspire you: ?? Write a Love Letter: Nothing says romance like heartfelt words. Pour your feelings onto paper for a timeless and meaningful gift. Bonus: It’s completely free and unforgettable! ?? Cook a Candlelit Dinner Together: Skip the restaurant rush and prepare a meal side by side at home. Light some candles, play soft music, and enjoy an intimate evening that’s all yours. ?? Plan a Stargazing Date: Head to a quiet spot with a blanket and enjoy the beauty of the night sky. Add hot cocoa or your favorite dessert to make the moment extra sweet. ?? Create a Memory Lane Walk: Revisit meaningful places in Modesto where your love story unfolded—your first date spot, favorite café, or the park where you first held hands. Celebrate love in ways that matter most—through connection and thoughtfulness. At Modesto’s First FCU, we’re here to support your financial goals so you can focus on what’s truly priceless: your love story. ?? #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

?? Exciting Opportunity! ?? Modesto’s First is happy to sponsor an attendee for tonight’s Central Valley Network Annual Bowling Bash! If you were thinking of joining us but haven’t gotten your ticket yet—this is your chance! ?? Date: Tonight! January 30, 2025 ? Time: 6 PM - 8 PM ?? Location: Ten Pin Fun Center, Turlock, CA This is a first-come, first-served opportunity, so if you're interested, comment below or send us a message ASAP! We can't wait to celebrate, network, and bowl with our amazing credit union community tonight! ???? #Networking #CreditUnions #Community #CentralValleyNetwork

Life is full of surprises—some more costly than others. For families in Modesto, having an emergency fund can mean the difference between financial stress and stability when unexpected expenses arise. With a bit of planning and consistency, you can build a safety net to weather life’s storms. Here’s how to get started. ?? Start Small, Aim Big - Open a dedicated savings account and start with $25 a week. Over a year, that’s $1,300—enough to cover many unexpected expenses! Automating transfers makes saving consistent and effortless. ?? Trim Unnecessary Subscriptions - The average household spends $219 monthly on subscriptions. Cancel unused services, redirect that money to savings, and grow your emergency fund by over $2,500 annually. ?? Leverage Side Income Opportunities - A part-time gig earning just $100 a week could build your fund to $5,200 in a year. Consider gig apps, tutoring, or freelance opportunities based on your skills. ?? Set a Realistic Goal - Experts recommend 3–6 months of living expenses for emergencies. For Modesto families, this might be $9,000–$18,000. Start with a target of one month’s expenses and build from there. Building an emergency fund takes time, but the payoff is peace of mind and financial resilience. By starting small and staying consistent, Modesto families can create a cushion for life’s uncertainties. Take the first step today—your future self will thank you. #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

Kickstart 2025 with a budget that empowers your financial goals. Here are five actionable tips with real insights to guide your journey: ?? Track Every Dollar You Spend - Use apps like Mint or YNAB to monitor your daily expenses. Studies show 65% of Americans underestimate their monthly spending, so increasing awareness is the first step to gaining control over your money. ?? Set a Savings Goal with a Purpose - Decide on a specific savings goal, like $5,000 for an emergency fund or $3,000 for a vacation, and break it down: saving $417 per month can get you to $5,000 by the end of the year. Households with emergency funds are 50% less likely to accumulate debt during financial setbacks. ?? Audit Subscriptions and Automate Savings - Review your subscriptions every quarter, cancel unused services, and redirect the savings to an automated monthly transfer to your savings account. With the average household spending $219/month on subscriptions, cutting just 20% can save nearly $500 annually. ?? Allocate 50/30/20 to Your Income - Apply the 50/30/20 rule to your income: 50% for needs, 30% for wants, and 20% for savings or debt repayment. Following this framework improves financial stability for 70% of people who adopt it, according to CFPB data. ?? Review and Adjust Quarterly - Set a 15-minute reminder at the end of each quarter to evaluate your progress and refine your goals. Households that review their budgets regularly are 45% more likely to stay within their spending limits, helping you stay on track all year long. Make 2025 the year you master your budget—and your future! #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

The new year is the perfect time to reset, reflect, and set some fresh financial goals. At Modesto's First FCU, we're here to help you make 2025 the year you take control of your money and achieve your financial dreams. Here are a few friendly tips to get you started: ? Make Your Goals Clear and Specific: Instead of saying, "I want to save more," try something like, "I'll save $5,000 by the end of 2025." Studies show you're 42% more likely to reach your goals when you write them down! At Modesto's First FCU, we can help you stay on track with savings tools that make it easy to hit your target. Automate transfers into your Savings Account each month. Even small amounts add up over time! ? Get Serious About Paying Down Debt: High-interest debt—especially credit card debt—can really hold you back. Prioritize paying off the debt with the highest interest first. The average credit card interest rate in 2023 was over 20%, so eliminating that can save you a lot! Modesto's First FCU also offers Debt Consolidation Loans to help you simplify your payments and save on interest. Try the avalanche method, where you pay off high-interest debts first, or the snowball method, if you prefer starting with smaller balances to build momentum. ? Build a Budget You Can Actually Stick To: A budget is a powerful tool, but it only works if it's realistic. Make sure you account for essentials, savings, and fun. The 50/30/20 rule is a great guide: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Modesto's First FCU has resources to help you balance it all. Check in on your budget every few months. Life changes and your budget should, too! ? Boost Your Retirement Savings: Saving for retirement can feel daunting, but small steps add up! For 2025, the IRS increased the contribution limit for 401(k) accounts to $23,000, so there’s more opportunity to save. Even adding just 1% more to your retirement fund each year can make a big difference. At Modesto's First FCU, we can help you with personalized retirement planning advice. By following these simple tips—and with the support of Modesto's First FCU—you’ll be well on your way to making 2025 your best financial year yet. Let’s do this together! #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

As we approach a new year, it’s a great time to take a step back and evaluate your financial health. Understanding where you stand financially can help you make better decisions and set yourself up for a prosperous 2025. Here are three practical ways to assess and improve your financial status: 1. Calculate Your Net Worth to Get the Full Picture: One of the best ways to gauge your financial health is by calculating your net worth—subtract your total liabilities (debts) from your total assets (savings, investments, and property). This calculation gives you a snapshot of your financial standing and helps identify areas for improvement. Revisit your net worth every six months. If it's trending upward, you’re on the right path. If not, focus on paying down debts or increasing savings to make progress. 2. Review Your Spending Habits to Uncover Hidden Opportunities Many people are unaware of how much they actually spend. A 2023 survey by Schwab found that 59% of Americans struggle with keeping their spending in check. Start by reviewing your last three months of expenses to see if there are areas where you can cut back. By identifying unnecessary spending, you can redirect those funds to savings or debt repayment. Use tools like Modesto's First FCU’s Mobile App or CardNav to track and categorize your spending. Set a goal to reduce non-essential spending by 10% in the first quarter of 2025. 3. Check Your Credit Health to Set Yourself Up for Better Opportunities: Your credit score plays a huge role in your financial well-being, affecting your ability to borrow money, rent a home, or even secure certain jobs. If your score is lower than you'd like, take proactive steps to improve it by paying bills on time, reducing credit card balances, and disputing errors on your credit report. Request a free credit report annually from the major credit bureaus (Equifax, Experian, and TransUnion). Set a reminder to check it early in 2025 to correct any issues and see where you can improve. By focusing on these key areas—your net worth, spending habits, and credit health—you can get a clear view of your financial picture and take actionable steps to improve it. Modesto's First FCU is here to support you with tools and guidance to help make 2025 your best financial year yet! #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

As winter approaches, residents of Modesto can expect higher utility bills due to increased energy consumption for heating. However, there are effective strategies to mitigate these costs. Here are five budgeting tips from Modesto's First FCU to help you lower your utility bills this winter: ?? Invest in Smart Thermostats: Installing a smart thermostat can save you approximately 10-15% on your heating bill. According to the U.S. Department of Energy, these devices can help you optimize your heating schedule, ensuring you use energy only when you need it. ?? Seal Drafts and Insulate: According to Energy.gov, sealing drafts and adding insulation can save you 20% on your heating costs. Inspect windows and doors for gaps and use weatherstripping or caulk to seal them. For your attic, ensure it has at least 10-14 inches of insulation for maximum efficiency. ?? Adjust Your Water Heater: Lowering your water heater temperature to 120°F can save you up to 10% on your water heating costs, according to the U.S. Department of Energy. This adjustment not only conserves energy but also prolongs the lifespan of your water heater. ?? Utilize Energy-Efficient Appliances: Replacing old appliances with Energy Star-rated models can save you an average of 30% on energy costs. For instance, an Energy Star refrigerator uses about 15% less energy than non-certified models. Check the labels and consider upgrading if your appliances are over 10 years old. ?? Practice Energy Conservation Habits: Simple habits, such as using LED light bulbs, can significantly lower your energy bills. The U.S. Department of Energy states that switching to LED bulbs can save you $225 over the lifetime of each bulb, while also using 75% less energy than incandescent bulbs. At Modesto's First FCU, we believe that making informed financial decisions is key to successful budgeting. By implementing these strategies, Modesto residents can effectively manage their winter utility bills and create a more budget-friendly household. What are your go-to tips for reducing energy costs in winter? #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto

The holiday season is a time for joy, celebration, and giving, but it can also lead to financial stress if not managed wisely. Here are three practical tips to help you prepare financially for the holidays without breaking the bank: ?? Create a Holiday Budget: Establishing a budget is crucial for keeping your holiday spending in check. According to a survey by the National Retail Federation, the average consumer planned to spend around $1,000 on holiday gifts and celebrations in 2023. By setting a specific budget for each category (gifts, food, decorations), you can prioritize and limit your spending. ?? Start Saving Early: Consider starting a dedicated holiday savings fund. According to a study by the American Bankers Association, setting aside just $25 a week for 10 months can yield $1,000 by the time the holidays arrive. This proactive approach can alleviate the financial burden of holiday expenses. ?? Take Advantage of Discounts and Rewards Programs: Many retailers offer significant discounts during the holiday season. The National Retail Federation reports that 67% of consumers plan to use coupons and discounts when shopping. Additionally, utilizing rewards programs from credit cards or stores can provide extra savings or cash back, making your holiday budget stretch further. By implementing these strategies, you can enjoy the festive season while keeping your finances in check. At Modesto's First FCU, we’re committed to helping our members navigate their financial journeys with confidence. What are your best tips for holiday budgeting? #ModestoCalifornia #Modesto #CaliforniaLife #ILoveModesto