How Do I Create And Sustain Wealth? (Part1)

Posted in Board Brief, KTFCU News on May 20, 2026

A 2024 Pew Research Center survey found that 59% of Americans felt very or extremely confident they can budget. A 2023 NerdWallet survey found that 74% of Americans had a monthly budget. A 2024 Debt.com survey found that around 90% of Americans report they budget their money.

Since so many Americans say they are budgeting, WHY ARE SO MANY PEOPLE STRUGGLING FINANCIALLY? What gives? The quick answer is reality overcomes good intentions. That same 2023 NerdWallet survey found that 83% of people who have monthly budgets said they exceed it. Many said they use credit cards to cover the overspendin...

Buy Now, Pay Later BNPL No-Interest Services (Part 3 of 3)

Posted in Board Brief, KTFCU News on Apr 15, 2026

The last two Board Briefs on this subject we layed out what Buy Now, Pay Later (BNPL) services are (a financing product) and when you might consider using a BNPL financing option (only on rare occasions).

So, what are the circumstances where I should NOT consider a BNPL financing option?

There are many examples.

• Any item that has a short lifespan (less than the financing term of the BNPL option).
• Anything perishable, like groceries, clothing, entertainment, travel, etc.
• Anything that is a nice to have, but is not a need, like furniture, a stereo system or a TV, especially when you alrea...

Buy Now, Pay Later BNPL No-Interest Services (Part 2)

Posted in Board Brief, KTFCU News on Mar 18, 2026

As discussed in the last Board Brief, more retailers are offering Buy Now, Pay Later (BNPL) no-interest options. These products are a form of financing. They are like limited time, zero interest credit cards. The terms may differ, but these are financial products, and they are offered because they increase retail sales and they make someone money, sometimes a lot of money, that can be at the consumer’s expense. So, BEWARE!

When should I consider taking a BNPL offer? The simple answer is you shouldn’t. But there are some limited situations when considering a BNPL financing option is worth cons...

Buy Now, Pay Later BNPL No-Interest Services (Part 1)

Posted in Board Brief, KTFCU News on Feb 18, 2026

More retailers are offering BUY NOW, PAY LATER (BNPL) No-Interest Services. From grocery stores to home improvement stores to apparel stores, many retailers are offering these products. Currently, according to WalletHub-

61% of Americans do not know how differed interest or no interest BNPL purchases work.
51% of Americans say they have agreed to a BNPL plan without being sure they could make the monthly payments.

What are BNPL's? Should I consider taking advantage of them? What are the pitfalls?

First and foremost, these are financial products in the same way a credit card is a financial pro...

Best Practices For Transferring Funds ( Part 2 of 2)

Posted in Board Brief, KTFCU News on Jan 21, 2026

Last Board Brief, we looked at the ways you can transfer money into your KTFCU accounts. In this Board Brief, we look at best practices for moving your money into your KTFCU accounts.

MONEY TRANSFER BEST PRACTICES

General Overview – Money Transfers Into the KTFCU
In general, there are three important types of accounts; Share Savings, Share Draft and, if applicable, Loans.

Overall, it is best to move your money into either your Share Savings or Share Draft account from outside sources before you move the money between your other account(s).

Most of you use Online Banking or the Online Bankin...