Money Rules Of Thumb From Our Staff

When our members are in need of financial products, they often speak with their loan officer or one of our Member Service Representatives, but when seeking financial advice, our staff likewise can provide words of wisdom. We recently asked some of our staff to offer us their financial planning suggestions that they use to guide their own finance – words that they would likewise share with a friend, neighbor or a member who asked for guidance in developing financial plans.

Budgeting often forms the basis of our staff’s two cents worth, from creating one, to sticking with it, which we know can be easier said than done.

As old-fashioned as it may seem in the modern age of online accounts, Lindsey in our Grenora branch suggests, “Always write down your transactions in a register and balance your account regularly.” Doing so helps you more easily recognize when you’ve exceeded your budget.

Dennis in Watford City agrees. “Balance your checkbook every month when you get the statement – makes you monitor your account for fraud or unusual charges.” Keeping tabs on your dollars and cents alerts you to transaction errors, duplicate charges, and charges and credits from online purchases and refunds.

In addition to what you allocate for spending, consider where you divide your incoming funds. Todd in our Washburn branch recommends, “The 50/30/20 rule. Fifty percent of after tax income for needs, thirty percent for wants, and twenty percent for savings (additional retirement, investments, cash). Best rule a wage earning person can live by for long run financial solvency.”

If watching your account penny-for-penny is not your style, Khadero (New Town) recommends an estimating approach. “Over budget expenses and under budget income.”

To find out what approach works best for your present and future financial goals, we encourage you to visit with one of our loan officers and discover how Dakota West can help you put together short- and long-term plans based on your personal needs and what we can build together to help you live, dream, and achieve.

Prepare For Your Holidays With Travel Alerts

What are your plans for the holidays? It may still be a little early to finalize where you’ll be sitting down to your Thanksgiving dinner or where you’ll be unwrapping presents this Christmas, but there is one way to make sure your holidays are not filled with unwanted surprises: call your local branch and set up travel alerts for your Dakota West Mastercard® Debit and Credit cards.

While we monitor your usage for charges that may be unexpected, we also want to be sure your card is fully accessible if you are going to be visiting family across the state, or back home from your current work location. By providing specifics of where you will be during this increased travel season, we can be sure your cards are always available when you need them.

Of course, because there is often more activity on your card, the risk of a fraudulent or unapproved transactions can be prevented when card controls and travel alerts are in place. In addition to notifying us before you hit the road, you can also take advantage of the MY Cards mobile app to set locations based on your travel, transaction alerts, and even turn your debit or credit card on and off in real time.

While many of our members may decide not to travel far this season, It's still a good idea to take control of your Dakota West cards with an extra layer of protection this holiday season. Even if you are just traveling to Fargo to see your new grandbaby or headed to Deadwood for New Year’s Eve, as soon as your plans are final, give us a call before you go. Let us help keep your cards, and your money, safe.

College Finances On A Budget

Are you a college student for the first time? Maybe you’re taking classes towards a degree while working? Are you considering going back to school for an advanced degree? Managing money becomes one more responsibility that adds to the burden of work, studies, planning, and scheduling during college life. Our partners at Kasasa® offer some useful tips for college students, whether in person or online, to help keep your dollars and cents a part of your success.

Distinguishing needs from wants sounds like a simple way to manage money, but when streaming movies online while waiting at the laundromat reminds students that clean clothes may take priority over entertainment expenses. Try measuring the cost of a desired purchase in quarters – how much laundry can you get done when you choose to save rather than spend?

Take advantage of library services that may be available either in person or digitally. A library card comes with all kinds of extra services that cost a lot less than a purchase. Likewise, take the time to research services provided on campus or in the community where you live to find additional cost-effective alternatives, including entertainment.

Lastly, in a time of social distancing, those rare moments we can spend with family and friends are worth a lot more than the cost of an outing. Use your social time to connect with folks back home, or a friend at another campus. Whether Zoom, or Facetime, or just a call to Mom and Dad can rejuvenate you and provide a healthy break between classes and studying, and also keep your expenses low.

Most importantly, rest and work hard – those same voice and faces back home are here to support and encourage you. Don’t forget to stop in to your local branch and say, “Hello,” every once in a while. We’re here to help you, too.

Dakota West MY Cards

Not a week goes by that we hear a news story about a security breach or a new scam. To protect yourself and your money, Dakota West is rolling out a new tool allow you to keep tabs on your debit and credit cards.

Introducing Dakota West MY Cards – a new app that gives you control over a variety of card features. You now have the ability to turn your card on and off to secure your card whenever you choose. You can set spending limits on your card, or simply add alerts when card-related transactions over a certain amount are completed. You can even disable specific retail services, such as online purchases or alcohol sales.

Having control over your cards gives you more ability to manage your spending and be aware of transactions on all your cards. Whether your cards are snug in your wallet or away at college with your student, you can keep tabs on where your dollars flow.

To learn more about the features of the Dakota West MY Cards app, visit our website. From your phone, click on the App Store or Google Play apps to search for “Dakota West Credit Union MY Cards” and download the app to your mobile device. You’ll create your own logon to keep your data secure, and have the ability to manage your cards from anywhere you go.

Dakota West MY Cards Mobile App