The True Cost of Your RV

Question: We’d like to get an RV instead of going on vacation this summer. It’s always been a dream of ours. In addition to the cost of purchasing the RV, what hidden expenses should I expect once we own it?

Answer: Buying or renting an RV can be an enjoyable way to travel and see the country from sea to shining sea without checking into a motel room even once. But before you make that decision, take into account these hidden and additional costs:

Fuel. Plan on about 8 to 15 miles per gallon. If your water and sewage tanks are fully loaded, you’ll spend more on fuel. If you travel light, you can get better mileage. But in the middle of that range, it’s still going to cost about 38 to 40 cents per mile in fuel costs alone, assuming diesel prices of $3.50 per gallon. Some areas have higher fuel costs than others.

Also, not only will driving use up gas, but your generator will also consume fuel if you aren’t plugged into the grid. If you’re using an electric heater or the air conditioning while you are stationary, or if you enjoy hot water, you will have to run your generator. The more you use it, the higher the costs will be. Some may use propane rather than electricity, but propane isn’t free either.

RV Park Fees. Lots of people use the free parking in Walmart parking lots, but if you want to stay at an RV park, plan on spending between $30 and $50 per night. This is usually a little less than you’d pay for a budget hotel, but be prepared to pay it pretty often. RV folks tend to be out on longer trips than non-RV people, who may only pay for a hotel for a few days or a week. You can usually get a discount from RV parks if you pay by the month.

Insurance. Because there are a number of specialized underwriting factors, see if you can find an insurance carrier or agency that specializes in RVs. For example, a typical auto policy has very limited benefits for replacing lost, stolen or destroyed personal belongings in a car. You will need higher limits for an RV than for a standard truck or sedan. You will also need specialized ‘full-timer’ insurance for when your RV is stationary. This coverage provides similar protection to homeowners’ insurance. But if you still have an unwheeled residence, you’ll also need to maintain home coverage on it.

Note: In most cases, you need insurance even if your RV is a trailer. Ask your agent about “trailer insurance.”

Maintenance. Save early and save often for maintenance issues. Towing costs alone will be significant if you do have a breakdown. It takes a heavier duty tow truck to haul an RV – and it may have to be hauled a long way to find a mechanic capable of fixing it! Maintenance costs are all over the map, but can easily run thousands of dollars. New tires alone cost $300 each (roughly $1,200 to change them all).

Once you’re aware of these factors and feel, as many people do, that the benefits and savings far outweigh the costs, start shopping for your RV. First Financial can help you purchase an RV with our RV loan program. We have great low rates plus:

  • Financing on your new or used RV up to 120 months
  • Up to 110% financing
  • Loan Payment Protection
  • Easy online application

Click here to learn more and to apply today!

*A First Financial membership is required to obtain an RV loan and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan.

This article is courtesy of CUContent.

6 Sneaky Summer Expenses to Avoid

iStock_000016935539XSmallSummer is the time kick back, relax and just take things easy for a few months. While this means you may be feeling a little lax with your budget, you don’t have to waste those hard-earned dollars on frivolous purchases and expenses that can easily be avoided. Even if you aren’t tracking your spending on a daily basis, there are some things you can do to be more mindful about your spending habits and make better money decisions all season long.

Whether you’re enjoying some vacation time this summer or just working your way through those hot summer days, here are six sneaky summer expenses you can avoid.

  1. Excessive toll charges. You may be relying on your GPS to provide you with the shortest route and turn-by-turn directions to your final destination, but make sure you aren’t required to pay a lot of toll fees along the way. Consider taking an alternative route – even if the trip takes slightly longer – so you don’t end up paying extra money in toll charges on a single trip. Factor in the extra cost of gas on the alternate route if needed so you really are saving money on the total cost of that drive.
  2. Car rental insurance. If you’re planning a road trip but don’t want to put miles on your own car or you end up needing a rental car when you’re on vacation, don’t add more to the cost of your trip by purchasing rental car insurance. Almost all major credit card companies offer car rental insurance coverage as a benefit to cardholders – regardless of their balance. Check with your credit card provider to find out if it offers car rental insurance and also check with your insurance company to see if car rentals are included in your coverage. In many cases, your car insurance will provide primary coverage and the credit card will take care of secondary coverage, such as towing charges and other fees.
  3. Cost of personal items on vacation. Don’t let running out of sunscreen, bottled water or other everyday essentials put a dent in your vacation budget this season. Buying these items at a hotel, resort or retail store at a vacation hotspot can leave you paying a premium, so make sure to stock up on the essentials before you head out. Make a checklist of must-haves for the beach and beyond so you don’t spend extra money on the basics.
  4. Beach umbrella and chair rentals. Many resorts and hotels by the ocean offer beach umbrella and chair rentals for an additional fee. If you can bring your own, you could end up saving upward of $15 per day on these amenities. Call ahead to confirm that you are permitted to bring your own beach items – some larger resorts may not allow you to use anything but their own, so you can save some extra money on that overnight stay.
  5. Premium gas prices in tourist towns. If you’re heading to a major tourist city, make sure to fill up in the suburbs or anywhere outside of the main tourist zones to avoid the high price of gas. Many gas stations around tourist hubs charge a premium because they know visitors have limited options in the area. Be smart about where you fill up so you aren’t paying several cents more per gallon every time you need gas.
  6. Movie rental late fees. If you’re planning a movie marathon for a group or just binge-watching a few days during that summer vacation away, make sure you don’t get stuck with late charges and extra fees on those rentals. Only rent what you can watch that same night so you don’t fall into the trap of holding on to the movie for a few extra nights – and paying late fees. Redbox, for example, only charges $1.50 plus tax a night for most DVD rentals but will charge you the same price for every night you hold onto it. If you’re bad about returning movies on time, consider low-cost and free alternatives, such as rentals from the library or borrowing a DVD from a friend to offset some of the costs of movie night.

First Financial’s Summer Savings Account is ideal for those who are looking to save up for summer expenses or a vacation as well as employees who get paid 10 months out of the year. This account allows you to have money available for summer expenses during July and August and you have the ability to choose the amount of money you’d would like to have deposited each pay period through direct deposit or payroll deduction.*

You can elect to have your money transferred into a First Financial Checking Account in two different ways: Either 100% of funds can be transferred on July 1st, or 50% will be transferred July 1st, and the other 50% August 1st. This account can be opened at anytime – stop into any branch, or call us at 866.750.0100.

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the Bronze Tier. Click here to view full Rewards First program details. Accounts for children age 13 and under are excluded from this program. 

Article courtesy of US News – Money by Sabah Karimi.

Sun, Surf, and Savings: Summer Travel Inexpensively

54f0fbd48fba0_-_1-couple-vacation-tropical-lgnIt’s summer and time to enjoy the sun! Whether you’re an adventurer, a creature of habit, or planning your first big family vacation, here are some money saving tips you will want to consider.

Save Up

When planning summer travel, estimate your costs ahead of time for airfare, lodging, and expenses. Set a goal to save a portion every month toward that amount and track your progress. The closer you get, the closer that vacation is, and the more excited you and your travel companions will be!

One popular saving method is the hoarding of five-dollar bills. A Reddit user inspired many with his post and photo captioned: “For the past year, I put away every $5 bill that came into my possession. To date, I’ve saved $3,335.”

Get a Cheaper Flight

Plan ahead: Try to book your flights around three months in advance of your planned date of travel. Finding cheap last minute airfare isn’t impossible, but it’s hard to plan that way.

Low fare alerts: Pick a few destinations you want to visit and set up “low airfare” alerts at sites like Airfare Watchdog or Kayak to be notified when prices drop below your threshold. If you’re not limited to a certain destination, Kayak’s summer travel hacker can help you choose a lower-fare location.

When to buy: If a fare seems too good to be true, BUY IT. The price-prediction app Hopper, will advise you to purchase your flight now or wait because prices might drop further.

Avoid Airline Fees

Baggage fees: Avoid the long lines and $25 charge by packing light and flying only with carry-ons. Make sure your carry-on suitcase fits the dimensions permitted by your airline. Avoid stuffing the bag so full that it can’t fit into the bag-size tester. Summer travel often requires less clothing anyway, right?

To make sure you stay comfortable on the flight, a thin scarf – which looks fashionable and keeps the neck warm – can double as a light blanket. Wear your largest pair of shoes and bulkiest clothing on the flight so they won’t take up as much space in your suitcase.

If you travel to the same destination often, consider leaving some toiletries or clothing items at that person’s house.

Food and drink: Travel with an empty reusable water bottle that you fill when you get through security. Bring your own snacks and packable meals so that you don’t get tempted to charge an airline meal to your credit card. The food you pack will likely taste better, anyway. But be kind to your fellow passengers and try to avoid powerful odors like tuna or egg salad, or allergens like peanut butter.

Article courtesy of MintLife Blog by Kim Tracy Prince.

Things to Do on a Budget in Monmouth & Ocean Counties this July 2015

Fourth-of-July-FamilyHappy 239th Birthday, America! As we prepare to celebrate our independence this upcoming weekend, there are so many exciting celebrations that you and your family and friends can join in on. Check out the events and activities below that are going on all month long in a town near you.

4th of July Firework Celebrations:

Sunday, July 5: This year, Monmouth Park Racetrack (Oceanport) is throwing the ultimate backyard BBQ – the Red, White & Blue Party, presented by Budweiser. Gather your friends, wear your most patriotic red, white, and blue, and come party Monmouth Park style. There will be tons of food, drink specials, live music courtesy of Rockin’ Thunder 106 and Fun 107.1, games, and so much more. Eating competitions such as whipped cream pie, watermelon, and hot dogs will also take place – plus, a spicy wing eating competition! In addition, Monmouth Park will be celebrating our armed forces and local first responders – many of whom will be on-site celebrating too. So tell all your friends that the biggest summer party is the Red, White & Blue Party – you won’t want to miss it! For more information, call 732-222-5100.

Saturday, July 11: Attention runners: Register today for Belmar’s Annual 5k Run! The race will start at Silver Lake Park at 7:00am where you can run through the beautiful streets of Belmar. You can join as an individual or a team, and there’s even an opportunity for children to join the run as well! For more information, call 732-681-3700.

Wednesday, July 15: Head on down to the sandy shores of Belmar for the 29th Annual New Jersey Sandcastle Contest! The event will be held at Belmar’s 18th Avenue Beach from 8:00 am – 12:00 pm. The competition is free and open to participants of all ages. *Rain date is July 29. For more information, call 732-681-3700 ext. 214.

Saturday, July 18: It’s the Asbury Park Blues & Brews Festival at Bradley Park. Attendees will be able to enjoy music all day long on the Main Stage, plus a biergarten, arts & crafts, food, and of course, access to the beach! This event is free of charge and will be held rain or shine. You won’t want to miss some of the very best jazz and blues music around, which has become an award-winning New Jersey tradition. For more information, call 732-933-1984.

Wednesday, July 22 – Sunday, July 26: Come one, come all to the Monmouth County Fair! The fair will be located at the East Freehold Showgrounds on Kozloski Road in Freehold. Times are as follows: Wednesday-Friday 5-11pm, Saturday 3-11pm, and Sunday, 11am-6pm. Enjoy tons of food, games, and rides as well as the 2015 Home & Garden Competition! For more information, call 732-842-4000.

Thursday, July 30 – Sunday, August 2: Head to the 21st Annual Clam Fest at Huddy Park (Highlands)! This 4-day, action packed event, features the freshest seafood, live entertainment, contests, vendors, crafters, games, rides, and the best part – free entry and parking! For more information, call 732-291-4713.

We hope you’re having a great summer!

“Where has your First Financial Visa Platinum Credit Card taken you?” Photo Contest

VisaCCPictureContest
We want to see where your Visa Platinum Credit Card has taken you! Share your photo with a short description of where you used your Visa Platinum Credit Card from now until July 6th, 2015 to any of our social media platforms: Facebook, Twitter, or Instagram. Please post only one photo to only one of our social media pages – multiple photos do not earn extra entries. Winner will be announced on July 7th, 2015 and will receive a $50 Visa Gift Card and soft cooler filled with travel sized items. If you don’t have a Visa Platinum Credit Card, click here to apply today!

If you have any questions, feel free to contact us at 866.750.0100, email us at
info@firstffcu.com, or stop into any First Financial branch!

*To be entered, follow First Financial on Facebook, Twitter, or Instagram. Participants can post a photo on First Financial’s Facebook or Twitter page, or can post a photo on their Instagram and tag @firstfinancialnj using #MyFFVisaTravels. Posted photo should be from a trip that the participant used a First Financial Visa Platinum Credit Card on. Picture could be from a previous vacation within the last two (2) years as long as a First Financial Visa Platinum Credit Card was used during the trip. Enter on or before 7/6/15 at 11:59pm. One (1) photo will be chosen at random on or about 7/7/15 and the winner will be notified by the Marketing Department. Winner must be able to pick up their prize in a First Financial branch. No purchase necessary to enter or claim prize. You must be 18 years or old to enter. One entry per person. See credit union for details.

 

7 Benefits of a Credit Union Credit Card

FFNJ%208160%20m%20platinum%20card%20designs3-resized-600Here are seven reasons why consumers should consider using a credit union credit card:

1. You’re a member-owner. When you join a credit union you are a member-owner, not a customer, and this means you have the privilege of voting for the board of directors – volunteers who help lead the credit union.