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If you’re buying electronics or appliances for a family member this holiday season, resist the temptation to spring for an extended warranty in case the item breaks.

Salespeople often push these service plans, which have become a $40 billion business, according to the newsletter Warranty Week. Two-thirds of in-store electronic shoppers and nearly three-quarters of appliance purchasers say that an associate has pitched one to them.

In nearly every case, it’s best to decline the offer. A March study from Stanford University found that consumers may overpay for extended warranties because they overestimate the likelihood that a product will need a repair.

Still, nearly a third of consumers have purchased one, with those buying exercise machines and major appliances most likely to to do so. “Today’s appliances are fairly reliable,” says Dan DiClerico, a home expert with HomeAdvisor.com (and a former editor for Consumer Reports). “The chance that your refrigerator or dishwasher actually needs a repair during the extended warranty period is pretty low."

DiClerico goes on to say that even if an appliance does break, the cost to fix it probably won't be much more than what you'd spend on a warranty. "The numbers aren’t really favorable toward paying for the extended warranty,” he says.

There are some rare occasions when buying an extended warranty could make sense, however. Smartphones, for example, travel with you everywhere, and their screens can  crack easily. In such cases, paying for AppleCare or Samsung Premium Care may be worthwhile. But even here, it really depends on what goes wrong with the device.

What to Consider

If you still want to purchase an extended warranty, follow these tips.

Understand the manufacturer's warranty before making a purchase. Federal law requires that you have access to the manufacturer's warranty before you decide to buy. When you read it, note how long the warranty lasts (typically 90 days or so), what it covers, and whether the company will repair or replace the item or refund your money.

Some manufacturers will also repair a product after the warranty has ended simply because it’s good customer service, so it’s worth contacting the company should a problem arise. Keep in mind that some extended warranties simply duplicate the coverage already offered by the manufacturer's plan.

Check to see whether you already have extended coverage through a credit card. If you bought the product using a credit card, check to see whether the card issuer extends the warranty. Many do for a period of one year or more. If you’re not sure whether your card provides such a perk, call customer service to find out. Or use an app like Sift, which will let you know before your make a purchase with a specific card how long the warranty will last.

Read the fine print. Extended warranty coverage may not be as comprehensive as you think. Extended warranties often include lots of exclusions that make the service less useful. For example, coverage may not include accidental damage, or companies might be able to deny a claim if you haven’t followed their routine maintenance instructions, according to the Federal Trade Commission.

The warranty may also require you to use a specific service provider or repair shop for service. “You may have to take the product to a location that isn’t convenient, especially if you don’t live in a big city,” says Richard Alderman, director of the Center for Consumer Law at the University of Houston. “You may have to ship it somewhere, even though shipping isn’t included.”

About 1 in 5 consumers who use an extended warranty is dissatisfied with the repair, and service can take a long time or require multiple tries to get it fixed. There’s also the risk that the warranty provider will go out of business.

Consider how much repairs would cost. Extended warranties cost an average of $126 for large appliances and $21 for small appliances. It costs just $26 more to repair the items without a service plan (see Consumer Reports' extended warranties buying guide). While rare, some warranties require you to hit a deductible before they’ll cover your costs or charge fees for each claim.

Repairs, however, aren't usually that expensive. Because the financial risk of needing a repair without an extended warranty is relatively small, it’s not a huge risk to go without one. 

Buy higher-quality products. Research the items you’re planning to buy before making the purchase. Be sure to understand the manufacturer’s warranty that comes with it. High-quality items may cost more but they’re less likely to break, making it an easier choice to decline the extended warranty. You can learn more about a product's reliability by reviewing Consumer Reports' ratings and product reliability information online.

Also consider where you plan to purchase the product. Look for a retailer that will take returns on defective items. Stores with the most generous return policies will accept broken items, even years after the original purchase. “Not every company is out to get you,” says Bob Hunter, director of insurance for the Consumer Federation of America.

When to Buy Insurance

On the 'Consumer 101' TV show, Consumer Reports’ expert Octavio Blanco offers tips on deciding when insurance is needed and how to get the most bang for the buck when it comes to coverage.
 

You might feel like you’re mentally ready to sell your home, but is your home ready? Look at this quick checklist of things that you shouldn’t forget before you let potential buyers check out your house.

• Turn on lights
• Make beds
• Wipe down counters
• Clean toilets and put seats down
• Vacuum carpets
• Take out trash
• Clean mirrors
• Air out home by opening windows
• Put away anything on the kitchen counter
• Turn on lights
• Sweep front porch and deck
• Make arrangements for animals to leave the home
• Wipe down cabinets
• Set dining room table
• Light candles (with fresh scents)
• Put out fresh flowers
• Hide clutter via a tote in garage

If you only have a few minutes to get your home ready, consider just doing a few of these. It’s important to think about investing in a home cleaning service while you’re selling your home, so you don’t have to do a deep clean every time you have a showing. If you have kids, give each a tote to store things at the last minute, that can fit neatly in their closet. You can do the same thing if you have pets, find a tote that can store their toys and beds for last minute appointments

When you’re ready to sell a home, check out the Union Plus Real Estate Rewards program. You could get $500 for every $100,000 in home value if you use a real estate agent approved by SIRVA.*

Spring will be here before we know it and that means the height of homebuying season. You may be thinking about buying a home — wanting to jump right into home ownership. Before you start it is important to know what to ask. There are misconceptions about what it takes to buy a home and there are myths about credit and down payment options. 

As a first-time homebuyer, knowing the three important questions and answers when buying a home may bring you confidence and may give you the information you need to move forward. 

Q: Do I make enough money to qualify for a mortgage?

A: Financing programs are available for a wide range of incomes — there is no set income that means you are ready to buy a home. There are other factors that are considered when you apply for a mortgage. They include your credit score, credit profile, and your savings. 

Many customers find the "get prequalified" tool helpful, as it can determine the price range you qualify for. After entering your information a home mortgage consultant can meet with you to review your financing options. Right from the start you will have personal guidance and a mortgage professional to answer any questions you may have.

Q: Is a 20% down payment required?

A: Not necessarily. Even if you have limited savings or modest income, there are a variety of financing options. Some require little or no money down, while some allow for a 3% down payment on a conforming fixed-rate loan like yourFirstMortgage^®. Even if you’re not buying your first home this loan option is available to you. Or, if you are a veteran a VA loan requires no money down. You may also receive and use monetary gifts from family for all or a portion of a down payment or for closing costs. As always, a home mortgage consultant can discuss loan amount, loan type, and property to ensure your eligibility. 

It is important to keep in mind that with a low down payment, mortgage insurance will be required, which increases the cost of the loan and your monthly payment. Talk with a home mortgage consultant about loan amount, type of loan, and property type requirement to ensure eligibility. We’ll explain the options available, so you can choose what works for you.

Q: Do I need a perfect credit score? 

A: No. Your credit score does not have to be perfect. Matter of fact, there are financing programs available for homebuyers with less-than-perfect credit scores. 

Being an Informed Homeowner

As we know — every little bit helps. Ask how homebuyer education and an eligible down payment may qualify you for a closing cost credit.  

The Benefit of Union Plus^® Mortgage Program

The Union Plus Mortgage program, with financing provided by Wells Fargo Home Mortgage, features access to benefits designed for union families. 

After closing on a loan through the Union Plus Mortgage program, you’ll be eligible to receive a My Mortgage Gift^SM award from Wells Fargo — $500 for buying a home or $300 for refinancing your home, for use at participating retailers — and access to mortgage assistance through Union Plus in times of hardship such as layoff, disability or strike.^1,2 Keep in mind that that extended family (parents and children of union members) may be eligible for certain mortgage assistance benefits.

You May Be Closer Than You Think

If you have any questions about the homebuying process, loan options, or would like a free prequalification, contact a Wells Fargo Home Mortgage consultant today. We’re here to support you every step of the way. And if you are considering refinancing, Wells Fargo Home Mortgage has options for you too.

Call 866-802-7312 or
request a consultation today
 

Why Buy? Here Are Some Reasons

Create the Home You Want

With no landlord to answer to, you can build your house into the home of your dreams. There's no need for anyone else's approval or permission.

Deduct Interest on Your Taxes

Unlike rent payments, the interest you pay on your mortgage may be tax-deductible. You may also be able to deduct home equity debt and real estate taxes.

Keep Your Monthly Payments Low

You can find a mortgage whose monthly payment won't go up as the market fluctuates, whereas your rent is typically raised or adjusted each year.

Build Your Equity Every Month

When you purchase a home, you're making an investment in your future. Each mortgage payment you make increases your equity in the house.

Ready to Take the Next Step?

Call us today. We're happy to help find out if you qualify, and there's never any obligation.

Visit unionplusmortgage.com or call 855
UNION 53 (855-864-6653) to talk to a loan officer.

Buying your first home is a big investment – one that can affect your lifestyle and your credit. The more information gathering you do before making your decision, the greater your satisfaction is likely to be before, during and after your move. To get you started, here are ten things to know before buying your first home.

1. How much you can afford: Consider all costs involved, including the down payment, closing costs, your monthly mortgage payment, taxes and maintenance, insurance and any applicable association fees.
    
2. Your credit score: Credit is an agreement to borrow money with the promise that you will pay it back later through scheduled payments. Good credit may get you a lower rate on your loan. To learn about credit and how to get your score, watch our “Credit Score” module.
    
3. The homebuying process: From the pre-approval decision through inspections and the closing, the homebuying experience involves many steps. Make sure you see the big picture before you start by watching our “Considering Home Ownership” module. 
    
4. Your financing options: Rates, terms, discount points and other details vary by loan type and with your credit. If you’re ready to take the next steps, find out what’s available to you by calling 855-864-6653 to discuss your options.
    
5. The right real estate agent for you: Real estate agents specialize in a variety of areas and are each familiar with different neighborhoods. Choose one who you feel best aligns with your needs and personal preferences.
    
6. The neighborhood: Safety, commute times, noise and other surrounding factors can influence your quality of life. Make sure you visit the area, walk around the neighborhood and get a feel for the community. Take the time to research the community online to learn of any upcoming developments that may impact the housing market in that area, and look for other red flags that may impact your choice to live there.
    
7. The school district: Even if you don't have children, you should consider the rating of the school district where you are planning to live. The school district where your home is located will have a direct impact on your taxes. And while low taxes may seem appealing because you don't have children, strong school districts are a top priority for many home buyers, so this can help to boost your property value and your bottom line when you choose to sell. It’s important to weigh the pros and cons for your situation now and in the future.
    
8. The state of the market: Is it a buyer’s or a seller’s market? Can you get more house for less if you wait a little longer? Timing can be crucial in determining the total cost of your first home.
    
9. Comparable prices: How much do similar homes in the surrounding area cost? You may want to compare houses in several neighborhoods to make sure you’re getting a good value. Ask your real estate agent for information about comparable properties (or “comps”) to determine how much to offer.
    
10. How your taxes will change: While home ownership comes with additional expenses like taxes and interest fees associated with your mortgage, you may be able to deduct your mortgage interest and real estate property taxes come tax season. Consult with your tax advisor for details specific to your individual situation.

Visit unionplusmortgage.com or
call 855 UNION 53 (855-864-6653) to talk to
a loan officer.

If you didn’t put money aside for Christmas spending this year, or you overspent your budget, you may be feeling a pinch right now. The holiday season is the time of year when most people spend more than they planned. And not just on their gift list. With so many great deals, many shoppers like to find some great gifts for themselves, too.

But now that the damage is done, how do you keep it from having a long-lasting effect on your finances? After all, maxing out your credit cards isn’t good for your bottom line (or your credit report). Here are some things to consider in order to get your finances back on track as you head into 2019:

Review Your Credit Cards

How much did you put on your credit cards? What is your debt ratio? (This is also known as your credit utilization ratio - it's the amount of debt you have compared to the amount of available credit.)

Missing a payment, keeping your balances too high, and maxing out your available credit can hurt your credit score. And fast! Paying down your credit cards quickly and putting your debt ratio back in balance can keep you from having any long-lasting effects to your credit score.

Review Your Savings and Emergency Fund

Did you use money from savings or your emergency fund to pay for gifts? If so, you may find yourself in some financial trouble if you need this money for unexpected, but necessary expenses like car or home repairs. You’ll want to rebuild these funds as quickly as possible to reduce your financial stress.

Review Your Budget

You’ll need to find extra money to pay down your credit cards, and then rebuild your savings. But if your income hasn’t increased, that money has to come from somewhere else.

That means it’s time to get serious about slashing unnecessary items from your budget. Even if it’s only temporarily while you get back on track. Cancel gym memberships, cable services, and slash your entertainment fund to repurpose that money to debt and savings. Start packing your lunches, making coffee at home, and fix budget-friendly dinners until your credit cards are paid off and your savings are replenished.

Yes, it will be hard, but it’s only for a short time and in the end, you’ll be glad you did it.

Earn Extra Income

You can get your finances back on track much faster if you start bringing in extra income and directing that money to paying off debt and building savings. Consider some part-time opportunities that you can do in your free time to earn extra cash. Get a part-time weekend job, drive for Uber or Lyft, start a dog-walking service, offer to rake leaves, shovel snow, or babysit. If you’re crafty, open an Etsy shop.

The opportunities for earning extra income are endless. As an added bonus, you may decide that you like the work and the income that goes with it even after you’ve paid off your debt.

Getting your finances in order as quickly as possible will ensure that there are no long-lasting effects to your overspending. Once you’ve reviewed your finances and made a plan for how to get them back in order, review your holiday spending. It’s time to start planning for next year so that you don’t find yourself in the same place again.

Article written by Emilie Burke. Emilie writes about overcoming debt, while balancing trying to eat healthy, stay fit, and have a little fun along the way. You can find more of her work at BurkeDoes.com.
 

Here are some tips to keep your pets safe during cold weather:

Winter wellness: Has your pet had his/her preventive care exam (wellness exam) yet? Cold weather may worsen some medical conditions such as arthritis. Your pet should be examined by a veterinarian at least once a year, and it's as good a time as any to get him/her checked out to make sure (s)he is ready and as healthy as possible for cold weather.

Know the limits: Just like people, pets' cold tolerance can vary from pet to pet based on their coat, body fat stores, activity level, and health. Be aware of your pet's tolerance for cold weather, and adjust accordingly. You will probably need to shorten your dog's walks in very cold weather to protect you both from weather-associated health risks. Arthritic and elderly pets may have more difficulty walking on snow and ice and may be more prone to slipping and falling. Long-haired or thick-coated dogs tend to be more cold-tolerant, but are still at risk in cold weather. Short-haired pets feel the cold faster because they have less protection, and short-legged pets may become cold faster because their bellies and bodies are more likely to come into contact with snow-covered ground. Pets with diabetes, heart disease, kidney disease, or hormonal imbalances (such as Cushing's disease) may have a harder time regulating their body temperature, and may be more susceptible to problems from temperature extremes. The same goes for very young and very old pets. If you need help determining your pet's temperature limits, consult your veterinarian.

Provide choices: Just like you, pets prefer comfortable sleeping places and may change their location based on their need for more or less warmth. Give them some safe options to allow them to vary their sleeping place to adjust to their needs.

Stay inside: Cats and dogs should be kept inside during cold weather. It's a common belief that dogs and cats are more resistant than people to cold weather because of their fur, but it's untrue. Like people, cats and dogs are susceptible to frostbite and hypothermia and should be kept inside. Longer-haired and thick-coated dog breeds, such as huskies and other dogs bred for colder climates, are more tolerant of cold weather; but no pet should be left outside for long periods in below-freezing weather.

Make some noise: A warm vehicle engine can be an appealing heat source for outdoor and feral cats, but it's deadly. Check underneath your car, bang on the hood, and honk the horn before starting the engine to encourage feline hitchhikers to abandon their roost under the hood.

Check the paws: Check your dog's paws frequently for signs of cold-weather injury or damage, such as cracked paw pads or bleeding. During a walk, a sudden lameness may be due to an injury or may be due to ice accumulation between his/her toes. You may be able to reduce the chance of iceball accumulation by clipping the hair between your dog's toes.

Play dress-up: If your dog has a short coat or seems bothered by the cold weather, consider a sweater or dog coat. Have several on hand, so you can use a dry sweater or coat each time your dog goes outside. Wet sweaters or coats can actually make your dog colder. Some pet owners also use booties to protect their dog's feet; if you choose to use them, make sure they fit properly.

Wipe down: During walks, your dog's feet, legs and belly may pick up deicers, antifreeze, or other chemicals that could be toxic. When you get back inside, wipe down (or wash) your pet's feet, legs and belly to remove these chemicals and reduce the risk that your dog will be poisoned after (s)he licks them off of his/her feet or fur. Consider using pet-safe deicers on your property to protect your pets and the others in your neighborhood.

Collar and chip: Many pets become lost in winter because snow and ice can hide recognizable scents that might normally help your pet find his/her way back home. Make sure your pet has a well-fitting collar with up-to-date identification and contact information. A microchip is a more permanent means of identification, but it's critical that you keep the registration up to date.

Stay home: Hot cars are a known threat to pets, but cold cars also pose significant risk to your pet's health. You're already familiar with how a car can rapidly cool down in cold weather; it becomes like a refrigerator, and can rapidly chill your pet. Pets that are young, old, ill, or thin are particularly susceptible to cold environments and should never be left in cold cars. Limit car travel to only that which is necessary, and don't leave your pet unattended in the vehicle.

Prevent poisoning: Clean up any antifreeze spills quickly, as even small amounts of antifreeze can be deadly. Make sure your pets don't have access to medication bottles, household chemicals, potentially toxic foods such as onions, xylitol (a sugar substitute) and chocolate.

Protect family: Odds are your pet will be spending more time inside during the winter, so it's a good time to make sure your house is properly pet-proofed. Use space heaters with caution around pets, because they can burn or they can be knocked over, potentially starting a fire. Check your furnace before the cold weather sets in to make sure it's working efficiently, and install carbon monoxide detectors to keep your entire family safe from harm. If you have a pet bird, make sure its cage is away from drafts.

Avoid ice: When walking your dog, stay away from frozen ponds, lakes and other water. You don't know if the ice will support your dog's weight, and if your dog breaks through the ice it could be deadly. And if this happens and you instinctively try to save your dog, both of your lives could be in jeopardy.

Provide shelter: We don't recommend keeping any pet outside for long periods of time, but if you are unable to keep your dog inside during cold weather, provide him/her with a warm, solid shelter against wind. Make sure that they have unlimited access to fresh, non-frozen water (by changing the water frequently or using a pet-safe, heated water bowl). The floor of the shelter should be off of the ground (to minimize heat loss into the ground) and the bedding should be thick, dry and changed regularly to provide a warm, dry environment. The door to the shelter should be positioned away from prevailing winds. Space heaters and heat lamps should be avoided because of the risk of burns or fire. Heated pet mats should also be used with caution because they are still capable of causing burns.

Recognize problems: If your pet is whining, shivering, seems anxious, slows down or stops moving, seems weak, or starts looking for warm places to burrow, get them back inside quickly because they are showing signs of hypothermia. Frostbite is harder to detect, and may not be fully recognized until a few days after the damage is done. If you suspect your pet has hypothermia or frostbite, consult your veterinarian immediately.

Be prepared: Cold weather also brings the risks of severe winter weather, blizzards and power outages. Prepare a disaster/emergency kit, and include your pet in your plans. Have enough food, water and medicine (including any prescription medications as well as heartworm and flea/tick preventives) on hand to get through at least 5 days.

Feed well: Keep your pet at a healthy weight throughout the winter. Some pet owners feel that a little extra weight gives their pet some extra protection from cold, but the health risks associated with that extra weight don't make it worth doing. Watch your pet's body condition and keep them in the healthy range. Outdoor pets will require more calories in the winter to generate enough body heat and energy to keep them warm – talk to your veterinarian about your pet's nutritional needs during cold weather.

“The cost savings and the incentives that were provided through Union Plus made it an easy decision,” Williams, a member of AFM since 1967, says. “Our previous carrier gave us no incentives to stay with them and switching to AT&T allowed us to upgrade our phones.”

When Williams and other AFM members choose AT&T, they support more than 150,000 union members at the only nationwide unionized wireless carrier. In addition to rebates, Union Plus offers AFM members and retirees exclusive discounts on qualified AT&T wireless plans through the AT&T Signature Program.

Additionally, Union Plus Credit Cardholders may be eligible to receive a $100 rebate on an upgrade or purchase of a new smartphone, as well as up to a $150 rebate to help cover any cancellation fees or related costs when switching from another wireless provider.¹ 

Since retiring from being a music teacher, Williams derives fulfillment from serving as the secretary treasurer for his AFM local in Lewisburg, West Virginia. He was thrilled to learn he was eligible for the AT&T smartphone rebate and said the promotion came along at exactly the right time, especially in a holiday season that stresses the wallets of most.

“It’s quite beneficial; every dollar is important,” he emphasizes. “I’m retired, and we live on a fixed income. Union Plus has always provided great opportunities to save and be thrifty. And I’m glad that Union Plus has the affiliation with a union-based wireless company in AT&T.”

“The process of obtaining the rebate was very easy,” Williams recalls. “We have been very happy with the service provided through AT&T.”

Williams says that being an AFM member is what made his career complete. He has been a Union Plus Credit Cardholder since its inception, and he regularly tells other AFM members about services provided through Union Plus.

“As soon as I learned of the Union Plus Credit Card and Union Plus’s partnerships with the unions, I took advantage of it,” he said. “Using the Union Plus card has been important for me.”

The Union Plus Credit Card² program offers several card choices; whether you want rewards, a low intro APR for purchases, or an introductory rate for balance transfers, there is an option for you.

“As a union, we have quarterly meetings, and I always update them on services provided by Union Plus,” Williams said. “We have always expressed the benefits of being a Union Plus Credit Cardholder.”

Find the Union Plus Credit Card that is right for you at theunioncard.com.

To learn more about AT&T’s partnership with Union Plus, visit unionplus.org/att.

• Get a $400 credit when you buy LG V40 ThinQ™^₁

  And trade in an eligible smartphone.
  
  ^{Limited Time. Req's elig. service (min. $60/mo. before discounts). Value via instant credit or promo card (valid min. 90 days). $30 activation, other fees, & restr's apply. See offer details below.}

• Save up to $80 on Ultimate Ears Wi-Fi speakers²

  ^{Ends 1/3/19. Req's apply. See $80 details below.}
   

• Get up to $60 in credits when you buy the Samsung Galaxy watch³

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Plus, with the AT&T Signature Program, union members can deck the holidays with exclusive savings on wireless — making for a happy holiday indeed. 

In 2010, local union organizer Tefere Gebre and his wife Jennifer joined the millions of working families underwater as their San Diego home lost most of its value during the national mortgage crisis. 

A few years after short selling their home and moving into a rental, Gebre and his wife relocated to the east coast when he earned a national leadership role as the AFL-CIO’s Executive Vice President. 

They were able to buy a new home in Silver Spring, Maryland, but were saddled with a high interest rate mortgage.

“As soon as I joined the Union Plus board, we saw the opportunity to build a great mortgage program for union members and their families,” Gebre recalls.

The Union Plus Mortgage Company (UPMC), founded in 2016 by the AFL-CIO, is designed so that the labor movement gains as UPMC grows and prospers. Union members and their families are eligible to apply for financing through UPMC, which is union-owned and staffed by unionized loan officers.

“Refinancing with UPMC was so simple and hassle-free,” Gebre shares.  “Our refinanced mortgage saves us more than $600 per month.”

The Union Plus Mortgage Program, with financing available through Union Plus Mortgage Company, is available for all eligible union members. 

Qualifying members are eligible for special benefits for first-time homebuyers as well as:

• A $500 gift card after closing for purchasing or refinancing a home
• Special hardship mortgage assistance from Union Plus in the event of income loss due to disability, unemployment or strike/lockout
• Veterans of the Armed Services are eligible to apply for a one-time $1000 Union Plus Veterans Grant

For more information, visit unionplusmortgage.com or call 855 UNION 53 (855-864-6653).