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Dear Friends of the Newark Senior Center,

Beginning Tuesday, March 17^th the Center will be closed to the public.  Center staff and volunteers will still be delivering Meals on Wheels, following new safety protocols. 

Please call 211 if you are interested in volunteering during these challenging times, or if you have questions or need services. 

We will continue to send updates via email, facebook and the website, www.newarkseniorcenter.com. You can still call the Center at (302) 737-2336. Staff may not answer immediately, but will return your call if you leave a message. 

Also,keep an eye out, we will be posting links to connect you with options for physical activity, mental stimulation and hopefully a laugh or two. 

Please take care of yourself and your family. 

We look forward to seeing you soon,

Carla

Holiday shopping on a budget reduces stress.  Stick to these eight items and enjoy the holidays!

1. Make a shopping list

Write down the list of people you plan on buying gifts for. Critically consider who should be on your gift list and don’t be afraid to trim it. Start with your immediate family and close friends, and selectively add to your list from there.

2. Set a spending limit

Figure out the total amount of money you want to spend on presents, and divide it up among each person on your list.  It’s the thought that counts, not the price tag.

3. Pay in cash

The easiest way to not go into debt is to use cash to buy gifts. You’ll be forced to stick to your budget. When you use a credit card, it is easy to lose track of how much you’ve spent and on who.

4. Shop by yourself

If you shop alone, you’ll likely spend less money, especially if you have friends with poor money habits. A shopping partner in crime can distract you from your plan by convincing you to buy something unplanned and unnecessary.

5. Tis the season to give, not buy

This is the season for giving, not receiving. If you find something you can’t live without, add it to your wish list. If nobody buys it for you, pick it up on sale after Holiday for yourself.

6. Shop for sales at discount stores

Check out the discount stores where you can find discounted items and great deals. If you shop exclusively online, remember Amazon may not always have the best price. Be sure to check out eBay, Walmart, and specialty stores.

7. Wrap a lot

Some people love having many presents to open.  If you are giving a Holiday gift that has several parts to it – tools, an outfit, and kitchen utensils, – wrap up each item individually. Your recipient will have more to unwrap and a fun time doing it.

8. Buy a combined gift.

You can save money while still giving great gifts by giving a slightly more expensive gift to two or more people instead of buying individual gifts for every person.

Call a $tand By Me 50+ Coach to free financial coaching and take control of your finances!

Call 302-651-3401 and 302-651-3427 in New Castle County

and 302-415-1542 in Kent and Sussex County.

All of our services are FREE!

BANKS, CREDIT CARD COMPANIES AND OTHER BUSINESSES USE CREDIT SCORES TO ESTIMATE HOW LIKELY YOU ARE TO PAY BACK MONEY YOU BORROW.

A higher score makes it easier to qualify for a loan or lower interest rates. Many scores range from 300 to 850, but different companies use different ranges.

You have many credit scores

You can have more than one score, because:

• Lenders use different scores for different products.
• There are many different credit scoring formulas.
• Information can come from different credit reporting sources.

For example, your credit card score could be different from your home loan score, and the scores you purchase online could be different from both of those.  For some people, these differences aren’t that big. But because lenders use different scores, you might qualify for lower rates with one lender and not another. It can pay to shop around.

Where do credit scores come from?

Your credit scores are generally based on information in your credit reports. This information is   reported by your lenders to credit reporting companies. The three biggest are Equifax, Experian, and TransUnion.

Several variables affect your credit score:

• How many credit accounts you have
• How long you’ve had those accounts
• How close you are to your credit limit
• How much credit you have left
• How often your payments have been late
• Other factors

How to raise your score

• Pay your bills on time, every time. One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders. If you have missed payments, get current and stay current.
• Don’t get close to your credit limit. Credit scoring models look at how close you are to being “maxed out,” so try to keep your balances low in proportion to your overall credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total available credit.
• A long credit history helps your score. Credit scores are based on experience over time. Your score improves the longer you have credit, open different types of accounts, and pay back what you owe on time.
• Be careful closing accounts. If you close some credit card accounts and put most or all of your credit card balances onto one card, it may hurt your credit score if you are using a high percentage of your total available credit. Frequently opening accounts and transferring balances can hurt your score too.
• Only apply for credit you need. Credit scores look at your recent credit activity as an indicator of your need for credit. If you apply for a lot of credit over a short period of time, it may appear that your money situation has changed for the worse.

Call a $tand By Me 50+ Financial Coach today to see and review your credit report and/or see what to do to improve it at 302-651-3401 and 302-651-3427 in New Castle County

and 302-415-1542 in Kent and Sussex County.

All of our services are FREE!

You may be able to get help paying your Medicare premiums. In some cases, the Medicare Savings Programs may also pay Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) deductibles, coinsurance, and copayments if you meet certain conditions. The income limits for these program are:

Individual monthly income limit*

$1,386

Married couple monthly income limit*

$1,872

Contact a $tand By Me Financial Coach to apply for the Medicare Savings Program and be screened for other benefits.

Call a $tand By Me 50+ Financial Coach today

for more information and free financial coaching

302-651-3401 and 302-651-3427 in New Castle County

302-415-1542 in Kent and Sussex Counties.

All of our Services are FREE!