December 2020 Newsletter
It’s never too late to get your savings into shape. Even with the holidays coming, there are lots of little things you can do to start saving now and set yourself up for bigger savings in the new year. Here are some tips to get started.
• Shop with intention. Create a shopping list and stick to it. This applies to holiday gifts, groceries, school supplies, and household goods. Impulse purchases can make you blow through savings in a hurry, so buy only what you know you need and have planned for.
• Follow the “instead of” rule. For example, instead of buying a fancy latte one day a week, transfer five dollars to your savings account. Instead of ordering out for dinner, eat some more leftovers, and transfer 25 dollars to your savings account. Pretty soon, you’ll find that, instead of expenses, you’re racking up some great savings.
• Avoid overdraft and late fees. This alone could save you hundreds of dollars each year. Know what you have in your account, and buy only what you can afford. Put your payment dates on your calendar or set up recurring payments online so that you always pay your bills on time.
Even after following all of those tips, consider taking one more—very easy—step: Put Bellco to work for you by making use of the right accounts for you. Here are a couple you might want to examine:
• Boost Checking. If you have money in the bank, it will ideally earn you more money. That’s why Bellco is proud to offer our Boost Checking account, which can earn you up to 2.25% APY* for for doing many of the things you already do with a checking account. This rate is even higher than many CDs and savings accounts. Think about it this way: For every $1,000 you have in the account up to $25K, you’re earning over $22.50 a year, which then continues to compound over time if you leave the funds in the account. After a year, if you’ve met the requirements of the account, you’ll have earned enough money for a nice lunch or 4 days of your favorite latte just for using Boost Checking.
• Round-Up Savings. To put money away each time you spend, consider using Bellco's Round-Up Savings Tool. If you already have a checking account with a debit card, this is a pretty easy way to save—each time you use your debit card, the difference between your purchase price and the next dollar amount up will transfer into your savings account. You’ll barely notice the extra pennies, but they’ll add up in a hurry, and your savings nest will start to look pretty cushy.
*Please speak to a Bellco representative for more information about applicable fees and terms.
We've seen the first snowfalls of the season, and we all know that Colorado will deliver many more. So now’s a great time to evaluate your vehicle and remember some safe-driving tips.
1. Be sure your tires are ready for snowy conditions by keeping them properly inflated and recognizing if you need new ones. Check your tread by inserting a penny, Lincoln's head side down, into the grooves. If the President's head completely shows, you need new tires. If you're still unsure, go to a tire dealership; most will check your tread for free.
2. Have a good ice scraper and a brush in your vehicle. A snow shovel, a bag of sand, a pair of winter boots, and spare winter clothing could be handy too—you never know when you might get stuck.
3. If your car was out in the snowstorm, clean it off completely, including the hood, roof, headlights and taillights, side mirrors, and bumpers. Any snow or ice that flies from your car can impair your vision or that of the driver behind you.
4. When you're on the road during or after a storm, do everything slower than you would in normal conditions. Even if you have great control of your vehicle, not everyone else will, and you'll need time to make any adjustments necessary. For safety, double the usual recommended following range to six to eight seconds.
It's always good to know how your car functions so you can adjust your driving accordingly. Whether your car has front-, rear-, all-, or four-wheel drive, understand how it works and what it will mean for traction. Know whether you have anti-lock brakes, traction control, or stability control, and understand their benefits.
If you don’t think your car is the right one for winter driving, now might be a great time to purchase a different one. You can prequalify for an auto loan from Bellco with rates as low as 2.99%*. It's a quick application process with no application or processing fees.
To get started or learn more, visit our Auto Loans page or speak with a Bellco financial specialist.
*The Annual Percentage Rate (APR) provided above is for well qualified borrowers. Advertised rates are subject to change without notice. All loans are subject to approval.
By Allstate Roadside Services
Whether you are traveling over the holidays or simply getting around town to take care of essential needs, don’t let an on-the-road issue slow you down. This winter, bring something along with you that can save you time, money, and hassle—and won’t take up space in the trunk: Signature Motor Club from Allstate Roadside Services.
- Exclusive membership pricing
o $5.75 per month for 10 miles of towing
o $6.25 per month for 25 miles of towing
o $7.34 per month for 100 miles of towing
- Plans also include fuel delivery* of up to two gallons, jump starts, and flat tire and lockout services
- Covers multiple drivers in your household in any car—including rentals**
- With just one roadside incident per year, the annual cost of your membership could pay for itself.
- Continuous updates in real time: Stay informed about the status of your request while watching your rescue provider approach on the map
Signing up is easy. Choose the Signature Motor Club plan that’s right for you and your family, and drive with confidence! Sign up today at Bellco.org/Roadside.
*Customer pays for the cost of gas. **Coverage includes member, one other adult, and kids aged 16–18. All plans are products of and are administered by Signature Motor Club, Inc. Subject to terms and conditions. ©2020 Allstate Insurance Company. All rights reserved.
As a not-for-profit, Colorado-based financial cooperative, Bellco is committed to providing tools and resources to help our members and the community feel financially empowered. One way we've done this is by collaborating with Denver 7 to provide communities across Colorado with helpful financial tips.
This year, contactless payments will be more important than ever when we shop. In a recent Denver 7 segment, reporter Eric Lupher shared some best practices when using your digital wallet. You can view the segment below: