* Send us your tips! Each month we will collect your innovative money management tips -- these could be about resourceful ways you've saved money, thrifty activities you enjoy, helpful insights into living on a tight budget, etc. We will enter these tips into a pool and if selected, your tip will be featured in the next Innovative Connections and you will win a $20.00 Fred Meyer gift card.*

In the spirit of the holiday season, here's a tip from this month's winner Sal A:

If there are certain brands you buy consistently or wish you could afford maybe check out their company websites. Online manufacturer's websites sometimes have exclusive coupons that you can't find anywhere else. These sites might have email newsletters or e-clubs where they send special offers directly to your email inbox. 

Use your shopping list to help you decide which sites you might want to visit to find the best offers.

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Online shopping can be a great way to save time, gas, have access to multiple options and compare prices. It gives you some distance from the product that you're looking for, so you can step back, do your research and make smart choices. You aren't bound by store hours, no need to worry about lines and product availability. It can also be a great way to buy in bulk which saves you money in the long run. However, do be careful of online scams-deals that are too good to be true- and identity theft. Here are some more tips for safe shopping:

Once again we will be offering our 4-part series of Financial Household stability classes. These classes can be taken individually or as a series and are meant to supply you with tools to organize your finances and plan for a strong financial future! The classes will be taught at two different locations throughout January and February. Read the course descriptions and details below to sign up today! 

*Please note that we are now requiring a small fee for classes. Classes cost $5 each or $15 for the whole series. Fee waiver may be available for those who qualify.

Feel like you're always struggling to make ends meet? Take an inventory of your values and priorities. Follow a family as they analyze their spending and decide how to juggle income to cover expenses. You will benefit from valuable tools and strategies that you can put to work for you to make an immediate, positive impact on your financial situation. 

This class will be offered on two occasions: 

• Thursday, January 20, 2011, 4-6 pm, at New Columbia Opportunity Center, 4610 N Trenton St
• Saturday, January 22, 2011, 11am-1pm, at Broadway Vantage Apartments, 8340 NE Broadway 

Part 2: Budgeting and Saving

You may have heard that sticking to a budget and saving money will help you weather the shock of an unexpected expense, but it can seem impossible when time and money are limited. This workshop is designed to provide you with the tools you need so that budgeting and saving is within your reach. 

This class will be offered on two occasions:  

• Thursday, January 27, 2011, 4-6 pm, at New Columbia Opportunity Center, 4610 N Trenton St
• Saturday, January 29, 2011, 11am-1pm, Broadway Vantage Apartments, 8340 NE Broadway

Part 3: Hands-On Banking 

Do your current methods of managing income and paying bills not work for you? Do you frequently owe fees that you find confusing and expensive? Join us for this exploration of banks, credit unions and the services they offer. You will discuss various ways that you might utilize financial institutions to manage your income and learn about the many ways in which having an account at a bank or credit union can help-or hurt-your personal finances. You'll come away with a clear picture of what services might be right for you. 

This class will be offered on two occasions: 

• Thursday, February 3, 2011, 4-6 pm, at New Columbia Opportunity Center, 4610 N Trenton St
• Saturday, February 5, 2011, 11am-1pm, at Broadway Vantage Apartments, 8340 NE Broadway

Part 4: Building, Repairing and Protecting Credit 

Good credit is a crucial ingredient to most recipes for financial success, but what does it mean to have good credit and what can be done if you have poor credit or no credit history at all? The answers to these questions and more will be explored in this workshop. We will explore the basic components of a credit report and talk about what you can do to address inaccurate or damaging items. Other topics covered include steps you can take when turned down for credit and information about your rights related to credit. 

This class will be offered on two occasions: 

• Thursday, February 10, 2011, 4-6 pm, at New Columbia Opportunity Center, 4610 N Trenton St
• Saturday, February 12, 2011, 11am-1pm, at Broadway Vantage Apartments, 8340 NE Broadway 

To reserve a spot: Register for workshops online or by calling Talia at 503.943.5620.

Image credit: thinkpanama

 

Take advantage of CAT's resources and learn more about your rights and responsibilities as a renter by: 

* Every month we answer a question or give advice based on a scenario that someone sends us. If you would like financial advice on something you're facing in your life, email Talia at talia@innovativechanges.org or call her at 503.943.5620. All situations and questions will be kept anonymous.*
                        

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Dear Sad Saver, 

It's hard to save even when you know it's a priority. Things come up (the holidays, need for new shoes, higher energy bills than expected...) that can get in the way of saving even when you intend to. That's why I advise treating your savings like a bill and paying yourself first. When you get your paycheck and start doling it out for rent, utilities, etc., make a deposit to your savings account as well. That way it's a sure thing that your money makes it to savings. Maybe this means you have a tighter budget in the short-term, but in the long-term, it can save you lots of time, stress and money. 

If you receive paychecks through direct deposit, another option to make savings easy is to get part of your paycheck directly deposited to your savings account. Talk to your employer about this possibility. 

I also want to stress that every little bit counts. Set a realistic goal of how much you can put aside each month into your savings fund. Don't overwhelm yourself with an amount that will compromise your lifestyle significantly. Maybe you start off small and then add to your savings account once your finances are more stable. Creating a savings habit is the first step! Good luck with your savings! 

Savvy Saver

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: o 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. o Gresham Village Square Community Room, 1625 SE Roberts Dr. Gresham, OR 97080. Call 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 system, 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.