News and Updates

Saving habits by the numbers, plus other financial news to know

For this month’s financial news roundup, we’ve gathered headlines that cover earnings, savings, and their constant companion – taxes. January is the perfect time to think about these financial fundamentals and give your money habits a boost.

The financial news that affects you.You Can’t Take It With You, but You Still Want More: This interesting study explores the human drive to earn more money than we’d use in a lifetime. Though the study uses pieces of candy, and the real-life connection might be a bit of a stretch, it’s a fascinating look into the human psyche.

IRS: Identity Theft Prosecutions Double in 2013: The IRS launched 66 percent more investigations into tax ID theft in 2013 than in 2012 and prosecutions of those cases doubled last year. It’s a sign of both increased fraud and an increased effort to stop it by the IRS. (See our blog on tax ID theft for tips on protecting yourself.)

Seven Mistakes to Avoid on Financial Aid Forms: If you have a college-aged child, you might be familiar with the FAFSA. This financial aid application can be confusing, but it could make a big financial difference. Browse this article for helpful tips.

The Kids Are All Right According To PNC Survey, Younger Millennials Carry Half The Debt Of Older Peers: A lot has been said about the financial habits of people in their 20s. It’s easy to assume that young people aren’t financially cautious, but one survey has found that there’s some good news when it comes to Millennials. Younger members of this generation (20 to 24 years old) carry about half the debt of their older peers, and the younger set is also saving more.

Young Boomers, Get to Saving: No matter your age, retirement saving should be a part of your financial plan. This article highlights what different age groups should consider – from launching a saving plan to catch-up contributions.

SAC FCU_CTA_The Identity Theft Protection Manual

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Author SAC FCU Managing Editor

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