Here are some tips for setting up a Rainy Day Fund:

• Set a goal for how much you will set aside each month, even if it's just $3 a month, this will add up over time.
• Find a secure place to keep this money: a safe, savings account, secret spot, etc.
• Cut out something that is a "want" or "leak" in your daily expenses: one set of movie tickets or a mocha latte. Take the cost of what you would have spent on these items that day and put it in your Rainy Day Fund. Try to do this at least once a month.
• Save the change that's jingling in your pockets, it can amount to something.
• Pay yourself first! Take your monthly savings out of your paycheck before you do any other spending, rather than waiting to save "what's left."

Remember, the key to saving is not how much you can save but getting into the habit of saving itself. Even if you can only afford to save a tiny amount today, incorporating saving into your life is a great step towards meeting your long-term goals.

• Change your payment options. Portland General Electric's Equal Pay plan evens out your monthly bills so that they are the same each month. This way you can incorporate an expected energy bill amount into your planned budget. Find information about PGE plans or give them a call at 503.228.6322 or 800.542.8818.

• Follow simple energy saving tips to reduce your bill such as: turn off lights and unplug appliances when not in use, put plastic insulation over your windows for the winter to stop air leaks, keep curtains drawn in the summer to keep your place cool. For more tips on saving energy visit the Oregon Department of Energy website: http://warmoregon.org/

• Get financial assistance for paying your energy bill by contacting any of the non-profit organizations below or by checking in with your energy company. To be eligible for assistance, your household's income must be at or below 60 percent of Oregon´s median income (for a family of four, this would be $3,380.25 a month). These levels are based on household income and household size. You must also have past bills handy to document energy costs. Feel free to contact us for more information on eligibility.

utility assistance.

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• have a source of income
• can keep track of your deposits and account balance
• have a safe place to keep your account information

To be referred to Sterling Savings Bank for a Personal Savings account by Innovative Changes you must either:

• Take our Hands-On Banking class, or
  
• Set up a meeting with an Innovative Changes Financial Coach

About the Savings Account:

• It requires an initial $100 deposit to open.
  
• It must be at a balance of $300 within the first thirty days in order to remain free, otherwise it will cost $3 a month.
  

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Are you receiving your payment reminders?

If you chose to receive your payment reminders by email, make sure that they are coming to your inbox and not your junk mail. If you would like to change the way that you receive reminders (by mail, by email, or by phone call) let us know! Call Talia at 503.943.5620 or Carmina at 503.943.5645.

How to make your loan payment

• You can mail your payment by check or money order to: Innovative Changes, 4610 N. Trenton St., Portland, OR 97203
  

• You can drop off your payment (check, money order or cash) at the New Columbia Opportunity Center Front Desk- Mon- Fri, 8am-5pm Please note the building is closed to the public during the lunch hour (12pm-1pm) and is occasionally closed on Fridays for State furlough days. The front desk person has envelopes and is authorized to collect payments on our behalf if we are not in. If you are paying in cash and need change, you must contact Sarah (503.943.5670), Carmina (503.943.5645) or Talia (503.943.5620) in advance to arrange a meeting time.
  

• Carmina can accept payments at our Gresham location from 3pm-6pm or by appointment only on Fridays. Gresham Village Square Community Room, 1625 SE Roberts Dr. Gresham, OR 97080. Contact Carmina at 503.449.6299 to set up an appointment.

Upcoming Changes to payment reminders

We are currently in the process of moving to a new loan software, so please be patient with us as we get our new systems in order. In the coming weeks, you might notice that you are receiving your payment reminders earlier than usual and that they look a little different than before. Let us know if you have any questions. Also, we hope to be offering an ACH option for loan payments very soon. This means that you can choose to have your loan payment automatically deducted from your bank account each month. Stay tuned for more details!

We are here to help!

Are you having trouble making your payment this month, or afraid that it might be a little late? Let us know! We understand that unexpected events and expenses can make it hard to keep your finances on track, and Innovative Changes wants to be there for you in such cases. Innovative Changes is flexible and willing to work with our borrowers to satisfy loan obligations, and in return we ask for honest and timely communication. Remember, if you know your payment is going to be late, let us know ahead of time and we might be able to avoid charging a late fee, or sending out a late notice.

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