It's a Money Thing™

When you're young, managing your money can be tough! You're balancing everyday expenses while thinking about your financial future. It's a Money Thing™ resources can help you understand your grown-up piggy bank. Common sense and plain English insights are the core that forms ideas for managing your money.

Saving with New Skills

Learning a new skill has many potential benefits. It can entertain you, it can save you money, it
can boost your self-confidence, and it can unlock new opportunities at school and at work.

Watch the video:

Saving with New Skills from Jane Davies on Vimeo.

Navigating Income Loss

The stress of losing a job not only affects your finances—it can also take a toll on your mind and body. The path to recovery includes stops along the way to scrutinize your options, downsize your spending and energize your spirit.

Watch the video:

EKC's It's a Money Thing - Navigating Income Loss from Jane Davies on Vimeo.

Responding to Financial Emergencies

The COVID-19 pandemic is a sobering reminder that financial challenges come in all shapes
and sizes. Some obstacles—such as job loss or income reduction—are immediate and obvious. Others—such as fear or uncertainty about the future—are more subtle, but they can still disrupt our regular spending and saving patterns in a negative way.

Watch the video:

45 Tips to Respond to a Financial Emergencies in Times of Uncertainty from Jane Davies on Vimeo.

Avoiding Lifestyle Creep

Have you ever caught yourself daydreaming about all of the amazing lifestyle changes that await you just beyond your next pay raise? Have you ever fantasized about how to spend a work bonus, only to have the money instantly disappear into your monthly spending? If this sounds familiar, you might be prone to lifestyle creep.

Watch the video:

What is Lifestyle Creep? from Jane Davies on Vimeo.

Paying for Pets

Canadian pet owners spent an estimated $8.23 billion on pets, food, supplies, medical care and pet services in 2017, according to Statistics Canada. Although the love and companionship our furry (or feathered, or scaly) friends provide is priceless, it’s impossible to ignore the effect that pet ownership has on our wallet.

Watch the video:

43_A_Video_EastKootenay from Jane Davies on Vimeo.

Credit Union Myths

Separating Fact from Fiction - Even though there are over 250 credit unions in Canada, misconceptions about their structure and services still exist. Some people mistakenly believe that credit unions are limited, compared to big banks.

Watch the video:

Credit Union Myths - Get the Facts! from Jane Davies on Vimeo.

Writing a Business Plan

Writing a business plan is an essential part of building a successful business. At its core, a business plan is a road map for your project: it establishes your purpose, it sets goals and expectations, and it forecasts the relationship between cost and revenue.

Watch the video:

Writing a Business Plan from Jane Davies on Vimeo.

Building a Budget

Budgeting is a skill that helps you make smart decisions with your money. It ensures that you’re spending less than you earn, it prepares you for life’s curveballs, and it funds your goals and your dreams.

Watch the video:

EKC's Building a Budget by Currency from Jane Davies on Vimeo.

Owning vs. Renting a Home

The average person moves residences about 11 times in their lifetime. That provides a lot of opportunity to confront the following question: is it better to own your home or to rent it?

Watch the video:

EKC's Owning vs Renting from Currency Marketing from Jane Davies on Vimeo.

How to Save on Tuition

Successful scholarship applications take considerable time and effort. Although there’s no shortcut to a quality application, there are steps you can take to make your efforts as rewarding as possible.

Watch the video:

38 How to Save on Tuition from Jane Davies on Vimeo.

Strategies for Debt Repayment

No matter how unique one’s debt situation is, there are some universal truths to borrowing money: it’s expensive and it ‘steals’ money from your other life goals. Therefore, its repayment should be a top priority.

Watch the video:

37 EKC Strategies for Debt Repayment from Jane Davies on Vimeo.

Saving Strategy: Pay Yourself First

Paying yourself first is an effective savings strategy because it takes willpower right out of the equation. Rather than struggling to increase your self-control, you simply reduce your need to put it in action.

Watch the video:

36 EKC Saving Strategy: Pay Yourself First from Jane Davies on Vimeo.

Growing Your Money Locally

Supporting your local community is a positive thing—it builds relationships, it strengthens the local economy, and it makes your neighbourhood a happier and healthier place to work and play. The most obvious way to support your surrounding community is with the choices you make with your dollars.

Watch the video:

34 EKC Growing Your Money Locally from Jane Davies on Vimeo.

After Grad: Work or College?

Whether you start out by getting a degree or by joining the workforce, your career path should be designed to lead you to your dream job.

Watch the video:

33 EKC After Grad: Work of College? from Jane Davies on Vimeo.

Let's Talk Taxes

Paycheque withholdings are a fact of life for most workers, but they aren’t set in stone. While it might seem like the right idea to accept your withholdings as given and hope for a big refund at tax time, you’re better off taking a more proactive approach. With a closer look at your life situation and a touch of math, you can wind up with more pocket money and better financial well-being.

Watch the video:

32 EKC Let’s Talk Taxes from Jane Davies on Vimeo.

How to Spot Scams

How is it that scammers are able to trick the average person into making costly and humiliating mistakes? How is it that even the smartest people can fall for the simplest scams?

Watch the video:

31 EKC How to Spot Scams from Jane Davies on Vimeo.

Acing the Job Interview

Job interviews are stressful when you’re under-prepared. Make sure you have all the bases covered by reviewing the quick tips below!

Watch the video:

30 EKC The Job Interview from Jane Davies on Vimeo.

Saving for Retirement

Saving for retirement poses some unique challenges: How are you supposed to prioritize retirement savings against the long list of more immediate goals? How are you supposed to find the motivation to prepare for something that’s decades away? How can you quantify the amount you will need to save when you have no idea what your future will look like? The good news is that you can boost your retirement savings by practising the same good money habits that apply to smaller savings goals.

Watch the video:

29 EKC Saving for Retirement from Jane Davies on Vimeo.

Buying a Used Car

If you take your time to carry out an inspection plus research a vehicle’s history, buying a used car can be rewarding and cost-effective. Here are some quick tips to follow.

Watch the video:

28 EKC Buying a Used Car from Jane Davies on Vimeo.

Trends in the Stock Market

The bull and the bear are the unofficial mascots of stock markets around the world and are used to describe MARKET TRENDS Market trends are the upward (BULL) and downward (BEAR) patterns of the stock market over a period of time.

Watch the video:

27 EKC Trends in the Stock Market from Jane Davies on Vimeo.

Paying for School Student Loans 101

For many young adults, student loans serve as the first real experience with borrowing a large amount of money. It’s a steep learning curve for someone just starting out, and not understanding financial concepts like interest rates, loan terms and repayment schedules can quickly snowball into a very stressful and costly post-graduation experience.

Watch the video:

26 Student Loans 101 from Jane Davies on Vimeo.

Good vs. Bad Spending

A good budget is one that, quite simply, works for you. It allows you to meet your needs and plan for your goals, and—most importantly—it motivates you to keep on budgeting.

Watch the video:

EKC's Good vs Bad Spending from Jane Davies on Vimeo.

Earn Money Online

While some of us dream of a wildly successful Internet career, the rest of us are happy to settle for online earnings that are a little more modest. Thousands of money-making opportunities are just a web search away. Whether you’re selling your old stuff, scoping out freelance opportunities or running your own digital storefront, there are tools and resources to help you a long every step of the way.

Watch the video:

23 A Video EastKootenay from Jane Davies on Vimeo.

Compound Interest - The Rule of 72

While interest rates may be low, you do have options. Start early, invest wisely and give yourself the time you need to reach your goals. And remember, you aren’t alone. Seek advice from a financial planner or stop by your friendly neighbourhood credit union branch to sit down and talk with a professional about your options.

Watch the video:

EKC What is the rule of 72? thanks to Currency Marketing from Jane Davies on Vimeo.

Organizing Your Finances

Every year, it’s nice to do a bit of “financial spring cleaning” and declutter your filing cabinet, your desk drawers, and the various hiding places where miscellaneous scraps of paper tend to accumulate and multiply.

Watch the video:

EKC How Long Should I Hang Onto My Financial Documents? from Jane Davies on Vimeo.

Demystifying Mortgages

Owning a home is likely the largest financial commitment you’ll make in your life, and it’s easy to get caught up in details pertaining to debt-to-income ratios, the real estate market, current interest rates and amortization schedules. But financials are only a part of the picture. In order to make a truly smart decision, you need to acknowledge and accommodate some personal factors along with the financial ones.

Watch the video:

East Kootenay Community Credit Union Demystifying Mortgages Video thanks Currency Marketing from Jane Davies on Vimeo.

How to Save on Groceries

Picture this scenario: you’re steering your shopping cart through the sliding doors of the supermarket, shopping list in hand. As you walk the aisles, there’s a strategy you can use to save an average of 33% on your entire purchase. It doesn’t require any coupon cutting or signing up for rewards cards. And the best part? You still get every single item on your list. The secret? Buying private-label products instead of brand-name products.

Watch the video:

EKC's How to Save Money on Groceries from Jane Davies on Vimeo.

Intro to Insurance

Insurance coverage can be tricky to shop for, because it requires making specific financial decisions about some hazy and unpredictable concepts. Depending on the type of insurance you’re looking into, you might find yourself pondering some downright uncomfortable questions.

Watch the video:

EKC presents Intro to Insurance... thanks Currency Marketing from Jane Davies on Vimeo.

Understanding Inflation

When most people think of inflation, their response is usually similar to when they see a vintage advertisement: reminiscing about the cheaper prices of the past (15 cents for a burger? Awesome!) while simultaneously feeling some resentment towards today’s ever-rising prices. Generally, inflation is seen as a frustrating “financial fact of life” that passively affects everyone as price levels climb and as the dollar’s purchasing power decreases over time.

Watch the video:

EKC Understanding Inflation from Jane Davies on Vimeo.

Predatory Lending

By definition, predatory lending benefits the lender, and ignores or hinders the borrower’s ability to repay the debt. These lending tactics often try to take advantage of a borrower’s lack of understanding about loans, terms or finances.

Watch the video:

16 EKC Watch Out for Predatory Loans from Jane Davies on Vimeo.

Know Your Chequing Account

Cheques hold an odd place in our personal finances. In many ways, cheques seem like relics from a previous era. We maybe write one or two cheques a month (usually for rent or similar bill-paying situations where electronic payment simply isn’t an option). This is vastly different from only a few decades ago, when cheques represented more than 85% of all non-cash retail payments.

Watch the video:

15 EKC Know Your Chequing Account from Jane Davies on Vimeo.

Investment Vehicles

Investing can seem like a very risky, complex and fast-moving process. With endless combinations of investment vehicles to choose from, it can be difficult to take your first step as an investor—especially with the knowledge that all investments carry the risk of losing some or all of your money. So why bother?

Watch the video:

14_A_EKC Video Investment Vehicles from Jane Davies on Vimeo.

Loan Basics

Loans help finance some of our biggest goals in life. They can provide access to possibilities that we can’t afford upfront—possibilities like going to school, buying a home or starting a business (to name just a few).

Watch the video:

13_EKC Loan Basics from Jane Davies on Vimeo.

Common Money Beliefs - What's Your Money Persona?

How did you decide where to open your first bank account? Where did you learn to budget or pay bills? If you have a money question now, what do you do? Who do you turn to?

Watch the video:

12 EKC Common Money Beliefs What's Your Money Persona? from Jane Davies on Vimeo.

Living on Your Own

Living on your own for the first time can be empowering. It means having independence and all the things that come with it. Some of those things—like not having to share a bathroom—are wonderful. Others—like killing spiders yourself—are not so fun. And leading the pack in the not-so-fun category: bills.

Watch the video:

11 EKC Living On Your Own from Jane Davies on Vimeo.

Leasing vs. Buying a New Car

When it comes to buying a new car, you have three options: purchasing it with cash, purchasing it through a loan (also known as financing) or leasing it. For most shoppers, the decision comes down to buying or leasing.

Watch the video:

EKC Presents Buying vs Leasing a Vehicle from Jane Davies on Vimeo.

Emergency Fund Boot Camp

Having an emergency fund means having one less thing to worry about when the unexpected happens. If you find yourself in a situation like a medical emergency, an out-of-the-blue home repair or losing a job, you don’t want to be worrying about how you’re going to manage expenses or about going into debt to cover costs. An emergency fund will let you focus on getting your life back to normal.

Watch the video:

09 EKC Be Prepared Because Life Happens from Jane Davies on Vimeo.

Comparing Cards

Well, no payment method is automatically better or worse than any other; it comes down to when and how you use each payment type. Fully understanding each payment type allows you to make smarter decisions, and take advantage of the benefits of each payment type while avoiding any drawbacks.

Watch the video:

08 East Kootenay Community Credt Union & Currency present - Get to know your payment cards from Jane Davies on Vimeo.

Co-operative Principles

Credit unions put their values into practice by following the 7 co-operative principles. This sets credit unions apart from all other financial institutions, strengthens the community and benefits you too!

Watch the video:

07 EKC's Cooperative Principles Video from Jane Davies on Vimeo.

Understanding Compound Interest

In case you haven’t heard, compound interest is the best. You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!

Watch the video:

06 EKC & Currency on Compound Interest from Jane Davies on Vimeo.

Budgeting Basics

One of the most common budgeting mistakes is using your gross income instead of your net income as the starting point for your earnings. This can throw off your budget by giving you the impression that you have access to more money than you actually do.

Watch the video:

05 Budgeting Basics Aug EKC from Jane Davies on Vimeo.

Boost Your Credit Score

Credit scores are an area of personal finance that seem a lot more mysterious than they
actually are. Many people believe that improving them is a matter of trial and error and, as a
result, there’s a lot of “credit score advice” floating around that can end up doing more harm
than good.

Watch the video:

How to Build & Maintain Your Credit Score from Jane Davies on Vimeo.

Foiling Identity Theft

Identity theft is nothing new, and yet it still manages to cost its victims billions of dollars (yes, that’s billions with a “b”) globally each year—not to mention the time and hassle involved in recovering a stolen identity.

The good news is that there are tons of things you can do to deter identity thieves. The bad news is that many of us do little beyond choosing a decent password—and some people don’t even bother doing that! Here are the top 5 information jackpots for identity thieves, along with helpful tips on what you can do right now to protect yourself.

Watch the video:

Foiling Identity Theft from Jane Davies on Vimeo.

Breakdown of a Credit Score?

You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what’s the deal with checking them?

Watch the video:

02 Your Credit Score Breakdown from Jane Davies on Vimeo.

Choosing Your Financial Institution

What was the very first financial choice you ever made? It likely took place before your first job, even as far back as when your annual income consisted of money from the tooth fairy and lucky pennies. The very first financial decision you ever made is also one of the most important choices—where to keep your money.

Watch the video:

Choosing a Financial Institution from Jane Davies on Vimeo.