Financial Education
Tools and resources to help you make informed financial decisions
Financial Topics
Explore our educational resources on a variety of important financial topics.
Latest Articles
Stay informed with our most recent financial education content.
August 20, 2025
Your credit score is influenced by five key factors. Learn what they are and how to improve each one to boost your overall score.
August 15, 2025
Budgeting doesn't have to be restrictive. Discover how to create a flexible budget that adapts to your lifestyle and helps you reach your financial goals.
August 10, 2025
Shopping for a car loan can be as important as shopping for the car itself. Learn how to compare offers, negotiate terms, and secure the best financing.
Credit Scores
Your credit score is a numerical representation of your creditworthiness, typically ranging from 300 to 850. Lenders use this score to evaluate the risk of lending to you.
Key Factors That Influence Your Credit Score
- Payment History (35%): Whether you've paid your bills on time
- Credit Utilization (30%): How much of your available credit you're using
- Length of Credit History (15%): How long you've had credit accounts
- New Credit (10%): Recent applications for credit
- Credit Mix (10%): The variety of credit accounts you have
Tips to Improve Your Credit Score
- Pay all bills on time
- Keep credit card balances low
- Don't close old credit accounts
- Limit applications for new credit
- Regularly check your credit report for errors
Resources
You can get a free copy of your credit report once a year from each of the three major credit bureaus at AnnualCreditReport.com.
Budgeting
A budget is a plan for how you'll spend your money. Creating and sticking to a budget can help you save for future goals and avoid debt.
Creating a Basic Budget
- Track your income: Calculate your total monthly income after taxes
- List essential expenses: Housing, utilities, food, transportation, etc.
- List non-essential expenses: Entertainment, dining out, subscriptions
- Set savings goals: Emergency fund, retirement, major purchases
- Adjust as needed: Review and refine your budget regularly
Popular Budgeting Methods
- 50/30/20 Rule: 50% on needs, 30% on wants, 20% on savings
- Zero-Based Budget: Every dollar has a purpose
- Envelope System: Cash in envelopes for different spending categories
- Pay Yourself First: Prioritize savings before other expenses
Budgeting Tools
Consider using budgeting apps or spreadsheets to help track your income and expenses. Many banks also offer budgeting features within their online banking platforms.
Auto Financing
Understanding auto financing options can help you make informed decisions when purchasing a vehicle and potentially save thousands of dollars over the life of your loan.
Types of Auto Financing
- Direct Lending: Getting a loan directly from a bank, credit union, or finance company
- Dealership Financing: Getting financing through the auto dealership
- Leasing: Paying to use a vehicle for a specified period of time
Factors That Affect Your Auto Loan Terms
- Credit score and history
- Down payment amount
- Loan term (length)
- New vs. used vehicle
- Current interest rates
Tips for Getting the Best Auto Loan
- Check your credit report before applying
- Shop around and compare offers from multiple lenders
- Get pre-approved before visiting the dealership
- Focus on the total cost of the loan, not just the monthly payment
- Consider making a larger down payment to reduce interest costs
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