Author Archives: Chief Marketing Officer Jessica

The Risk of Putting Your Finances on Autopilot

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Automation makes it easy to manage your finances. Direct deposit, autopay and automatic transfers into your savings takes tasks off your plate, and for many – that hands-off approach is exactly what keeps their money on track.

However, when everything runs completely on its own – it’s easy to stop paying attention altogether. Keep reading to find out what to watch for, and how to stay in the loop with your finances without giving up the convenience.

You Can Lose Touch with Your Spending

When your bills pay themselves and your paycheck splits itself into savings, it’s easy to stop looking at where your money actually goes. You can miss patterns you would otherwise catch, like a forgotten subscription or a spending category creeping up month over month.

Automated savings can fall behind too. If you set a transfer amount once and never revisit it, it won’t grow when your income does. Say you set up a $50 automatic transfer into savings two years ago. After a raise, that same $50 is a smaller share of your paycheck than it used to be, even though the transfer still shows up every payday.

Set a recurring reminder monthly or quarterly, to review your accounts and see where your money is really going. Our Home Budget Calculator is a good place to start.

Overdrafts and Fees Can Sneak Up on You

Automation removes some of the manual work, but not the responsibility of knowing your account balances. If a payment goes out before your paycheck lands, or if you have more automatic payments scheduled than your account can cover that week – you could end up with an overdraft plus a late fee or returned payment fee from the biller.

This often happens right after a change in pay schedule or a new autopay you set up for a service. Checking your account balance, upcoming transactions, and payment timing regularly helps you catch these mismatches before they turn into fees.

Errors and Fraud are Easier to Miss

A missed decimal point, a duplicate charge or an extra zero can happen, and automated systems do not always catch these mistakes on their own. Fraud can be even harder to spot, since scammers often start with small charges that don’t raise a red flag – hoping you won’t notice before they move on to bigger ones. When your bills still get paid, and your balance still looks roughly right at a glance, nothing prompts you to look closer unless you already are.

A quick weekly glance at your transaction history is one of the simplest ways to catch something before it grows. Visit our blog’s Important Alerts & Scams page to stay up to date on the tactics scammers are using right now.

Your Plan Can Get Outdated Without You Noticing

Automation is built to run the same way every time, but your finances are not static. A new job, a move, a new family member or a paid-off loan can all change what your money should be doing, and none of those changes will update your automatic transfers on their own.

When you pay off a loan, automation will not redirect that freed-up money into savings, another debt or another goal for you. Treat every major life change as a cue to revisit your automatic settings, not just your budget.

Automation and Oversight Work Better Together

Automating your finances is still one of the best tools available for building good money habits, especially when you pair it with a regular check-in.

If you have been hands-off for awhile, start small. Review your accounts at least once a week for the first month, then shift to once a month. A short check-in does not need to take long. Each time, look for:

  • Charges you don’t recognize or can’t place.
  • Subscriptions or automatic payments you no longer use or need.
  • Savings transfers that have not kept pace with your income.
  • Life changes that may update your automatic settings.

Automation and oversight are not opposites. Together, they give you the convenience without losing sight of your money.

For more financial tips like these, subscribe to our First Scoop Blog.

Insurance Needs Assessment for Empty Nesters and Retirees

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With children out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power and fast approaching peak savings as you lay the groundwork for retirement. During this final leg to retirement, and throughout your retirement period – wealth protection is critical.

The preservation of your assets may not be solely a function of your investment strategy, but may include a comprehensive insurance approach to protect you against an array of financial risks – most especially health care.

In addition to wealth protection, you can also now be seriously contemplating a number of important estate and legacy objectives.

Home

Even though your mortgage may be paid off, and thus released of the lender’s requirement to have homeowner’s insurance – it remains important to consider coverage against property loss and exposure to personal liability. Now is an ideal time to review your policy as the cost of replacing your home and the belongings contained therein, may have grown over the years.

Also, consider an umbrella policy, which is designed to help protect against the financial risk of personal liability.

Health

There are several key health insurance issues facing empty nesters and retirees.

If you retire prior to age 65 when Medicare coverage is set to begin, you will need coverage to bridge the gap between when you retire and when you turn 65. If your spouse continues to work, you may want to consider getting yourself added to his or her plan, though you may need to wait until the employer’s annual enrollment period.

Alternatively, you also may purchase coverage through a private insurer or through HealthCare.gov (or your state’s program, if available).

Once you enroll in Medicare, you should consider purchasing Part D of Medicare, the Medicare Prescription Drug Plan – which can help you save money on prescriptions.

Additionally, you may want to consider other Medigap insurance, which is designed to pay for medical care not covered by Medicare. Medigap plans are bought through private insurance companies and best purchased within the first six months of turning age 65, in an effort to get the best price and the most choices.

Disability

This coverage may continue until you retire. When you stop working, you should consider canceling your disability insurance as the need for it has expired.

Life

The financial obligations that drove your life insurance needs while you were raising a family may have evaporated. However, you may find new needs arising from estate issues, such as liquidity, creating a legacy, etc.

Several factors will affect the cost and availability of life insurance – including age, health and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

Extended Care

For some, extended care insurance is a priority in this stage of life. With the expense of children in the rearview mirror, you can now turn your focus to buying protection against potentially the most significant healthcare expense you are likely to face in retirement.

Designed to pay for chronic, long-lasting illnesses and regular care, whether in home or at a nursing home – extended care insurance coverage is critically important since most of these costs are not covered by Medicare.

Questions about this topic or interested in setting up a time to talk? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534.  You can also email maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Avoid Debt Collection Scams: Know the Red Flags Before You Pay

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Getting a call, text or email saying you owe money can be stressful, especially when the person contacting you demands immediate payment or threatens serious consequences if you don’t comply. That’s exactly the reaction scammers want.

Debt collection scams often involve fraudsters pretending to represent legitimate collection or government agencies, or lenders. They may claim you owe a debt that doesn’t exist, exaggerate the amount you owe, or try to collect information they can use for identity theft. The Office of the Comptroller of the Currency (OCC) warns that these scammers often rely on threats and intimidation to pressure consumers into paying before they have time to ask questions.

A call about a debt doesn’t automatically mean it’s a scam. But before you pay or share personal information, take a few steps to verify who’s contacting you and whether the debt is legitimate.

Red Flag #1: You Don’t Recognize the Debt

Don’t assume you simply forgot about it. Ask for the creditor’s name, the amount owed and how you can dispute it. A legitimate collector generally must provide this validation information during the initial communication or within five days. Don’t share additional personal details just because the caller already knows your name or address, scammers often gather that information from data breaches or social media.

Red Flag #2: They Threaten to Have You Arrested

Scammers often create urgency by claiming police are on the way, a warrant will be issued, or you’ll be arrested if you don’t pay immediately. That’s a major warning sign. The OCC identifies threats involving arrest, lawsuits, or immediate wage garnishment as common tactics used in debt collection fraud. Federal law prohibits legitimate collectors from using abusive or deceptive practices to collect a debt.

Red Flag #3: They Won’t Give You Details in Writing

A legitimate collection process should come with information you can review. If a caller refuses to provide validation information, becomes evasive, or claims you aren’t entitled to documentation, stop the conversation. If you receive validation information and believe the debt isn’t yours, you generally have 30 days to dispute it in writing, and the collector must stop collection activity until they have a response. Keep copies of letters, emails and notes from any phone conversations.

Red Flag #4: They Demand an Unusual Form of Payment

Be especially cautious if someone insists you pay using gift cards, person to person payments (aka: Zelle, Venmo), prepaid cards, or wire transfers. The OCC identifies these payment demands as a common warning sign, since scammers prefer methods that are difficult to reverse or trace. Do not pay via these payment methods.

Red Flag #5: They Ask for Sensitive Information You Weren’t Expecting to Provide

Never give an unsolicited caller your Social Security Number, online banking password, PIN or other sensitive financial information, even if they claim they need it to “verify your identity.” Look up the company using a trusted source rather than a number or link the caller provides, or contact a creditor you recognize directly using information from a past statement or its official website.

Before You Pay, Slow Down and Verify

Scammers count on creating panic. Giving yourself time to verify the situation can be one of your strongest defenses. If someone contacts you about a debt:

  1. Ask who is calling. Get the collector’s name, company name and contact information.
  2. Ask for validation information. Review the creditor’s name, amount owed and your right to dispute the debt.
  3. Check your own records. Compare the claim with statements, payment records and your credit report.
  4. Contact the original creditor when appropriate. Ask whether the account was sent or sold to the collection agency.
  5. Don’t pay because of a threat. Take time to determine whether the request is legitimate.
  6. Keep records. Save letters, emails, texts and notes in case you need to dispute the debt or report it.

What About Companies Offering to “Erase” Your Debt?

Fake debt collectors aren’t the only debt-related scam to watch out for. The Federal Trade Commission warns consumers to be skeptical of companies that guarantee they’ll settle all of your debt or promise fast loan forgiveness, especially if they demand payment before providing service. Research an organization and understand its fees before enrolling, and consider speaking with a reputable credit counseling organization if you’re exploring debt relief options.

What to Do if You Suspect a Debt Collection Scam

Don’t send money or share additional personal information. You can report suspected debt collection fraud to the Federal Trade Commission, the Consumer Financial Protection Bureau or your state’s attorney general. If you already shared banking or account information with a suspected scammer, contact your financial institution right away.

Protect Your Information and Your Finances

A demand for money can feel urgent, but you don’t have to make a financial decision on someone else’s timeline.

  • Pause.
  • Ask questions.
  • Verify the debt.
  • Confirm who you’re dealing with before sharing information or making a payment.

First Financial offers additional resources to help members recognize scams, prevent identity theft and protect their financial information. Visit our First Scoop Blog for the latest on scams targeting consumers.

If you believe information associated with one of your First Financial accounts has been compromised or you notice suspicious account activity, contact First Financial directly at 732.312.1500.

The Reality of Childcare Costs: Ways to Save as a New School Year Begins

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A new school year can bring a welcome return to routine, but it can also bring a fresh round of expenses. Between school supplies, new clothes, extracurricular activities, lunches and after-school care – September can put added pressure on a family’s budget.

For families who rely on childcare, those costs can represent a large part of their budget. Child Care Aware of America reported that the national average annual price of childcare reached $13,184 in 2025. That represented about 10% of the median income for married couples with children and 33% for single-parent households.

The start of a new school year is a good opportunity to take a closer look at what you’re paying for care and where you may be able to save.

1. Reevaluate What Care You Actually Need

Your childcare needs during the school year may look very different from your summer schedule.

Take a fresh look at your family’s weekly routine. Do you still need full-day care, or could you switch to a before or after-school program? Are there certain days when a parent or caregiver has more flexibility? Can work schedules be adjusted so you need fewer hours of paid care?

Even reducing paid care by a few hours each week can add up over the course of a school year. Be sure you understand your provider’s policy before changing your schedule. Some childcare centers charge a flat weekly rate regardless of how many hours your child attends.

2. Compare Total Cost, Not Just the Weekly Rate

Childcare costs can vary considerably depending on where you live, your child’s age and the type of care you choose. Center-based care, family childcare homes, nannies, babysitters and school programs may all have different pricing structures. A provider with a slightly higher base rate could ultimately cost less if more services are included.

When comparing your options, look beyond the advertised weekly or monthly rate. Ask about:

  • Registration or enrollment fees
  • Charges for early drop-off or late pickup
  • Meals and snacks
  • Transportation
  • School closure or holiday coverage
  • Activity or supply fees
  • Sibling discounts
  • Whether you still pay when your child is absent

3. Check Your Employee Benefits

Your employer may offer benefits that can help make childcare more affordable.

One option to investigate is a Dependent Care Flexible Spending Account, or FSA. These accounts allow eligible employees to set aside pre-tax income for certain dependent care expenses.

For 2026, the annual dependent care FSA limit increased to $7,500 for eligible households, or $3,750 for married individuals filing separately. Because you generally contribute the money before federal income taxes are calculated, using an FSA may reduce the overall cost of eligible care. The IRS has more details on how dependent care FSAs may work alongside other tax benefits.

Some employers also offer discounted rates with local childcare providers or flexible scheduling options.

4. See Whether You Qualify for a Tax Credit

Depending on your circumstances, you may also qualify for the Federal Child and Dependent Care Credit.

The credit may be available to individuals who pay for care for a qualifying child or dependent so they can work or actively look for work. For 2026, eligible expenses generally remain capped at $3,000 for one qualifying individual or $6,000 for two or more. The actual value of your credit will depend on several factors, including your income and eligible expenses.

Tax rules can be complicated, particularly if you also contribute to a dependent care FSA. Consider speaking with a qualified tax professional about which benefits you may be eligible to use and how they work together.

5. Research State and Local Assistance

Families may also qualify for programs that help cover a portion of childcare expenses. New Jersey’s Child Care Assistance Program may be able to help eligible families pay for childcare while parents work, attend school or participate in approved training programs. Eligibility and benefits depend on factors such as household income and family circumstances.

6. Create a Backup Care Plan Before You Need It

A school closing, sick caregiver or unexpected schedule change can quickly turn into an expensive last-minute scramble.

Before the school year gets into full swing, make a list of your backup options. This could include trusted relatives, friends, neighbors, babysitters, or school programs. Knowing whom you can call and when they are available can help you avoid paying premium rates for last-minute care.

7. Make Child Care Part of Your Monthly Budget

Childcare is often one of a household’s largest expenses, so it deserves its own place in your monthly budget.

Start with what you realistically expect to spend each month, then include additional costs that may pop up during the school year, such as school vacations, summer break, registration fees and occasional babysitting. First Financial’s Home Budget Calculator can help you map out where childcare fits within your larger monthly spending plan.

Next, review the rest of your spending. Look for expenses you can temporarily reduce, cancel or renegotiate rather than automatically putting the difference on a credit card. Small adjustments to dining out, subscriptions, entertainment or other flexible spending categories can help create additional breathing room.

Remember to protect your longer-term financial goals when possible. Cutting out deposits toward your emergency savings may ease this month’s expenses, but leave you more vulnerable when the next unexpected cost arrives.

Give Your Family’s Budget a Back-to-School Checkup

Childcare is a significant expense for many families. The goal isn’t necessarily to find the cheapest option. It’s to find safe, reliable care that works for your family while making the most of the resources available.

As the new school year begins, take some time to review your care schedule, employer benefits, assistance programs and your monthly budget. A few changes today, could make managing care costs a little easier throughout the school year.

For more budgeting tips, visit our First Scoop Blog.

Business Financial Health Check

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Running a business keeps you busy, and it’s easy for the day-to-day to take priority over the numbers behind the scenes. However, small financial issues can grow into bigger ones if they go unchecked. Instead of a list of warning signs to watch for, ask yourself these questions. If any of them give you pause, that’s your cue to take a closer look before a minor gap turns into something bigger.

Questions to Consider

1. Do I actually know if I’m profitable?

What it means: Not being able to say with confidence whether last month was a good one financially, or which of your products or services actually makes money, is more common than most small business owners realize. Being busy and being profitable are two different things, and it helps to know which one you’re looking at.

What helps: Set up a simple monthly profit and loss snapshot – even a basic spreadsheet works, so you’re looking at real numbers instead of a general impression. Revisit it on the same day each month so it becomes a habit.

2. Does my cash flow feel unpredictable?

What it means: Some ups and downs are normal, especially for seasonal businesses. Regularly being flush one month and scrambling the next with no clear pattern, usually means your cash flow could use a closer look. Consistent negative cash flow specifically means your core operations aren’t generating enough to cover your costs, which is useful to know sooner rather than later.

What helps: Build a simple cash flow forecast a few months out so surprises are rarer. Setting aside a small reserve during strong months also gives you breathing room during the slower ones.

3. Is my revenue growing without my account balance catching up?

What it means: Growing sales should eventually show up in your account. When they don’t, something in between – like pricing, expenses, or how quickly customers are paying you, usually explains the gap. It’s one of the more common patterns to run into, and also one of the easiest to miss when things otherwise seem to be going well.

What helps: Check your accounts receivables first. Slow paying customers may often be the quiet culprit. From there, take a look at whether your expenses have crept up alongside your growth.

4. Am I leaning on credit for everyday expenses?

What it means: Using a line of credit or business credit card to manage a seasonal slow patch or to jump on a timely opportunity is a normal part of running a business. It’s a different story when that credit is covering routine costs like payroll, rent or supplier invoices month after month, which usually means your day-to-day revenue and expenses aren’t quite in sync.

What helps: Track how often you’re dipping into credit for routine costs versus one-off business needs. If it’s becoming routine, it’s worth digging into why rather than just paying down the balance and moving on.

5. Are my margins shrinking even though sales look fine?

What it means: Steady sales while your profit shrinks is one of the easier warning signs to miss, since the top-line number on your statements can look perfectly fine. A declining gross margin usually points to rising material or supplier costs, while a declining net margin often points to operational expenses creeping up faster than revenue.

What helps: Pull apart your cost structure line by line, rather than relying on a general sense that things feel tighter. Revisit your pricing periodically too, since rising costs don’t always make their way into pricing automatically.

6. Does tax season always feel like a scramble?

What it means: If you’re gathering receipts and reconstructing records every spring, your books likely aren’t being kept up year-round. That scramble usually costs more than it needs to, in both time and missed deductions.

What helps: Keep your business and personal finances in separate accounts so your records are cleaner from the start, and set a recurring time each month to reconcile transactions instead of catching up all at once come tax time.

7. Am I losing more customers than I’m gaining?

What it means: Financial health isn’t only about the numbers on a spreadsheet, it’s also about the relationships behind them. If you’re spending heavily to bring in new customers but struggling to keep the ones you already have, that’s worth taking seriously – since acquiring a new customer typically costs far more than retaining an existing one.

What helps: Check in with customers regularly, whether through a quick survey or by simply asking for feedback. Small issues are much easier to fix before they turn into lost business.

8. If I sell products, am I always either overstocked or out of inventory?

What it means: Inventory problems are often a quieter sign of financial strain for product-based businesses. Money tied up in unsold inventory isn’t available for anything else, while frequent stockouts can mean lost sales and frustrated customers. If you’re regularly overordering some items while running out of others, it may be less about the ordering itself and more about not having a clear enough view of your numbers to forecast demand accurately.

What helps: Track your inventory turnover, not just what’s on the shelf. If certain items consistently sit unsold while others run out, use that pattern to adjust your ordering rather than restocking everything the same way each time.

What Good Business Financial Health Should Look Like

A business in good financial health can usually forecast its cash flow with reasonable accuracy a few months out, pay down debt according to a plan rather than reacting, and has a cash reserve that covers at least a month or two of expenses. If most of that sounds familiar, an occasional rough month isn’t a red flag. The goal isn’t to eliminate every fluctuation – since some ups and downs are a normal part of running any business, but to notice if a temporary dip turns into a sustained pattern.

Where to Start

Gather your last three to six months of bank statements and look for patterns. Even that basic review, done consistently – can surface issues long before they become urgent. From there, pick one habit to build rather than trying to fix everything at once. A monthly 15 minute review of your numbers, a small automatic transfer into a reserve account, or a recurring reminder to check your accounts receivables can each make a real difference on their own. None of these signs means your business is in trouble all by itself. What matters most is whether you’re checking in often enough to catch a pattern before it becomes a crisis.

Looking for convenient business banking options? Explore our business checking and savings accounts, or stop into your local First Financial branch.

*A First Financial membership 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. Other terms & conditions may apply, see credit union for details.

What to Do if You’re a Victim of Check Fraud

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Finding out you’ve been a victim of check fraud can feel overwhelming. Maybe a check was stolen from the mail. Maybe your account shows a payment you never authorized. Or maybe you deposited a check that turned out to be fake.

No matter how it happened, one thing is true: acting quickly matters. The sooner you respond, the better your chance of limiting financial loss, protecting your account, and preventing further fraud. If you think you’ve been a victim of check fraud, here are the steps to take.

Step 1: Contact Your Financial Institution Immediately

Your first call should be to your financial institution. Tell them:

  • What happened.
  • Which transaction appears suspicious.
  • When you noticed it.

Your financial institution may be able to place a stop payment on a check, freeze your account, open an investigation, and provide information needed to file a report with the authorities. Don’t wait – time matters.

Step 2: Review Your Account for Other Fraud

Fraud may not stop at one transaction. Look through your recent account activity for:

  • Other unfamiliar checks.
  • Unusual withdrawals.
  • Account changes you did not make.

Review at least the last 30–60 days of account activity, if possible. If your account information was stolen, criminals may attempt additional fraudulent transactions – sometimes even weeks later when they think you are no longer paying attention.

Step 3: Document Everything

Keep records of:

  • Suspicious transactions.
  • Check numbers.
  • All related communications including calls, emails or text messages related to the fraudulent activity.
  • Police or fraud reports.

Write down dates, names, and case numbers. This documentation can help if you ever need to dispute charges or file reports.

Step 4: File a Fraud Report

Depending on the situation, you may need to report the fraud to local authorities or other agencies. This can be especially important if:

  • Mail was stolen.
  • Identity theft is involved.
  • A scammer targeted you online.

Ask your financial institution what reports they recommend and keep copies of everything.

Step 5: Secure Your Account

If your account information has been compromised, it may be recommended that you open a new account. Take additional steps like:

  • Changing online banking passwords.
  • Updating PINs.
  • Reviewing linked payment accounts and payment methods.

If you use the same password elsewhere, update those too.

Step 6: Replace Compromised Checks

If physical checks were stolen:

  • Report the missing check numbers to your financial institution.
  • Store remaining checks securely.
  • Order new checks if needed.

Do not continue using compromised check numbers.

Step 7: Watch for Identity Theft

A stolen check contains personal information. Watch for:

  • Unfamiliar credit activity.
  • Unexpected bills.
  • Collection notices.
  • New account openings.

Continue monitoring your financial accounts regularly – even months down the road.

If You Deposited a Fake Check

If you deposited a fraudulent check as part of a scam, contact your financial institution immediately and explain what happened. Even if the money appeared in your account, it may later be removed if the check turns out to be fake.

Remember: If someone asks you to send money back after depositing a check, that is a major warning sign of a check fraud scam.

How to Protect Yourself Going Forward

After check fraud happens, it’s normal to feel cautious. Moving forward:

  • Monitor your account at least weekly.
  • Use account alerts.
  • Mail any checks securely.
  • Keep checks stored safely.
  • Be cautious with unexpected payments.
  • Ask questions before acting.

Fraud can happen to anyone. What matters most is how quickly you respond by taking the necessary steps to put a stop to it.

Final Takeaway

As we’ve been featuring these weekly articles all month long, you probably know by now that check fraud can be frustrating and stressful – but you are not powerless. Quick action can help protect your money and reduce impact. Knowledge is one of your strongest tools.

Should you ever suspect fraudulent activity within any of your First Financial accounts, please contact us right away.

Check yourself – stop check fraud before it starts.

Article Source: Made in partnership with the American Association of Credit Union Leagues, America’s Credit Unions, and TruStage