BrightStar Savings Account has better rates than banks

How Can High Rates Affect You?

BrightStar Savings Account has better rates than banks
Have your rates change?

Our lives are run by loans.  We have credit cards, mortgages, car loans, you name it. A big change you should be aware of this year is the rate increased made by the federal government. How can this affect you?

  1. Your credit card rate may go up.
    Credit card rates vary between financial institutions and are determined by your credit history. An increase on the target rate may affect the time in which you finish paying off your loan.
    What can you do?
    Take advantage of your Cash Rewards, points, and find which credit cards benefit your spending power.
  1. Your mortgage payments may increase
    If you have an adjustable-rate mortgage, your rate may increase. Look into the possibility of refinancing into a fixed-rate mortgage (where your rate will not change in the future.) Do not get discourage if you are thinking of buying a home soon, owning property is always a good investment. Just be conscious and do not exceed your spending limit, you never want to go house poor.
  1. Higher rates on savings may help you
    Worrying about high rates is normal, just keep in mind high rates may positively affect your savings. However, saving returns take time to grow. Do not expect your savings account to double overnight.

Plan ahead and budget accordingly. Do not let high rates scare you. See the positive, start saving more and spending less. Treat yourself once in while, but don’t over do it. It’s all about keeping a good balance.

BSCU has a program to help kids learn more about money management.

3 Reasons You Should Teach Your Kids How to Manage Money

BSCU has a program to help kids learn more about money management.
Teach your kids the importance of money management


The main role you have as a parent is to guide, teach, and keep your children safe. One day they will go on their own and realize the world is a tough place to live in. Everything you teach them at a young age will build a foundation for their future.  Teaching them the importance of money management can help them:

  1. Learn the meaning of financial responsibility
    You can start by giving them a small allowance for doing chores. Pick a small amount like $10 and teach them to use the money carefully and save. Little kids grasp everything quickly and teaching them how to manage money wisely is a lesson that will last a lifetime.
  2. Use credit cards correctly
    Managing credit cards can be challenging for adults. Teaching them about credit ratings and the benefits of having good credit can help them improve their financial future.
  3. Prevent Impulse Spending
    Impulse spending is a big problem in our consumer based society. Your kids are continually bombarded with advertising on TV, social media, and by walking into a store. Teaching children money management at an early age can help them understand the real value of a dollar.

As you can see, teaching your kids about money at an early age can help them improve their financial life. It is up you, as a parent, to pass these lessons along so they can build a brighter financial future.