May 232020

The High Risks of Payday Loans

Posted on May 23, 2020 Uncategorized

  Payday lenders are everywhere; drive past any strip mall in any city and you’re likely to find at least one. These lenders offer short-term loans to potential consumers to help solve their immediate financial issues, and they generally come with high interest rates and a service fee. They can cover gaps in pay periods, and are generally easy to obtain – especially since these payday lenders can be found anywhere. However, before you consider one of these loans, it’s important to understand that they come with a high cost, and it can be hard to get caught up financially

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May 192020

Your Credit Score – How It Can Affect Your Daily Life

Posted on May 19, 2020 Uncategorized

  When it comes to your purchasing power and your ability to find employment or a place to live, three simple digits can make a huge impact – your credit score. This score is the numeric representation of your financial health, and it can make a significant dent in your lifestyle if that score is low. Credit scores generally range from 300 to 850, and anything lower than 600 is considered unstable credit, and can affect your ability to obtain a credit card, rent a home or apartment, or take out a loan. They can also affect the interest rate

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May 132020

3 Big Money Mistakes to Avoid

Posted on May 13, 2020 Uncategorized

  Everyone makes mistakes in their life at one point or another, and that’s part of the human experience. Making mistakes with money and financial decisions is also normal, but because having a healthy financial life can make or break the way you’re able to function, it’s important to acknowledge the kinds of money mistakes that can be made before it’s too late. Research shows that more than 60 percent of college graduates have outstanding student loan debt, regardless of age, and that kind of debt can follow you for the rest of your life. In order to avoid making

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May 072020

Is a CD a Good Choice for Your Savings Goals

Posted on May 07, 2020 Uncategorized

      At Polam, we offer our members a number of different ways to save money and invest in their future. Our Vantage savings accounts are designed to work with any level of saver, and our traditional IRA accounts are designed to help our members save for retirement. However, many members choose a certificate of deposit (CD) account to save money, which allows them to earn dividends on the money they save for terms ranging from six months up to 36 months. CDs are a low-risk way for our members to earn a higher interest rate on the money

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May 022020

Spring Cleaning Your Finances

Posted on May 02, 2020 Uncategorized

  We’re just about into the the month of May, and if you haven’t really began to get under way with your notion of spring cleaning, this is the perfect time of year to start. We all know spring cleaning involves a lot – cleaning out closets full of clothes, knick-knacks, piles of irrelevant paperwork, and so much more. But spring cleaning isn’t just a tangible affair – it applies to your finances as well, including debts, loans, and overall savings. This part of your life should especially be a focus when you’re doing spring cleaning, because your financial life

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Apr 262020

Stuck at Home – How to Manage Your Accounts from Anywhere

Posted on April 26, 2020 Uncategorized

  With millions of Americans stuck at home due to the worldwide coronavirus outbreak, people are seeking out new ways to remain fully functional while having to shelter in place and socially distance from others. It’s true that no one can really prepare for an event like this, much less an unexpected illness or injury, that keeps us from leaving our house to run errands, such as visiting your local Polam branch to handle your banking needs. However, it’s important to know how to manage your finances from anywhere, regardless of statewide shelter-in-place orders.   If you’re looking for ways

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Apr 192020

Social Media Strategies for Small Businesses

Posted on April 19, 2020 Uncategorized

  When it comes to spreading the word about your business, promoting your brand on social media has become one of the biggest go-to strategies for any successful operation. Whether you’re marketing through Facebook and Instagram or even expanding outward with Snapchat, Pinterest, Twitter, LinkedIn or YouTube, there’s a bevy of ways that you, as a business owner or marketing manager, can take advantage of all that social media has to offer. Not only are these platforms free to join, but they can also allow for a great deal of creativity and flexibility.   Before you begin to develop a

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Apr 112020

Money-Saving Grocery Shopping Tips

Posted on April 11, 2020 Uncategorized

    Regardless of your family size or marital status, buying groceries is one of the constants for which every person has to budget. Getting a good deal on groceries can make a huge difference in how much flexible income you have each month, and with the cost of living increasing every year, those deals can add up to a lot of savings, leaving extra room in your monthly budget. And if you’re living paycheck to paycheck, you can definitely benefit from hunting for the best bargains around.   Many people have their preferred grocery stores, whether it’s because of

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Apr 042020

Paying Off Your Loans Early – A Few Tips

Posted on April 04, 2020 Uncategorized

  These days, it’s relatively common to owe on a mid-to-large-sized loan, and studies have shown that more than half of all Americans have taken out a loan to which they still owe quite a bit of money. After all, especially in the 21st century, taking out a loan is almost a big part of being an adult. Whether you’ve taken out a home equity loan, student loans, or an auto loan, these days it is almost a necessity if you need to make large purchases or help get from one point to another, financially.   Paying off loans can

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Mar 282020

Achieving Your Financial Goals

  Every person has different financial goals – big or small, easy to achieve or a goal that will take more time. Setting these goals is a smart way to ensure you’ll follow the right track over time, and they’re good for developing healthy financial habits. Whether you’re paying off student loans or credit card debt, saving for retirement, or saving to buy a house, having some kind of set goal is important to ensure your financial health won’t take a hit. However, it’s one thing to set goals, and another entirely to stick to them.   Our team at

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