The latest news and financial insights from your friends at 1st Nor Cal Credit Union.
1st Nor Cal Credit Union - Website
June 2019
Table of Contents
Visit Website
Locations & Hours
Loans & Rates
Online Banking
Mobile Banking
Member Discounts
Contact Us
Win $50!
There are two member numbers spelled out within the text of this eNewsletter. Find your number and give us a call at
(888) 387-8632 to claim $50!
Follow Us:
Return to All Articles
What Everyone Should Know About Personal Finances
Personal Finances
by Jason Vitucci, CFP® & Gene A. Schnabel

The President's Advisory Council on Financial Literacy defines personal financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being."4

However, before you can put your knowledge and skills to work, you need to understand what you want your money to achieve for you and your family over the course of your lifetime. That begins with determining what financial well-being means to you, establishing specific goals and maintaining a clear picture of where you are at any given time along the path toward your goals. Below are six things you need to know to help you remain on track toward your goals at each stage of your financial journey.
  1. Know how much you’re making, what you’re spending and what you owe. A budget is an important tool for tracking how much money is coming in and how much is going out on a monthly or annual basis. If you’re incurring debt on a regular basis, it’s likely that you’re over spending or you’ve encountered a rocky patch due to unforeseen medical bills, a job loss or other circumstances. Use your budget to help prioritize and manage spending.
  2. Know your net worth. Your net worth represents all your assets minus all your debts. If you’re managing your budget, your net worth should increase over time as you save, invest and pay down debts.
  3. Know that all decisions have an opportunity cost. Every financial decision from a $3 cup of coffee to $30,000 car involves a tradeoff. Do you spend the money now on something you want but don’t need, or do you save it? If you need a new car, do you buy new or used? Pay cash, finance over time or lease? Every decision influences your ability to maintain today’s lifestyle goals and tomorrow’s income needs.
  4. Know your financial goals and your time frame for reaching each goal. The likelihood of reaching your goals depends in part on how well-defined they are and when you plan to achieve them. It’s hard to build a solid plan around a goal “to retire someday” vs. a more finite goal such as, “I want to retire in 7 years and move closer to my children and grandchildren.” The financial planning process can not only help you articulate your goals but measure your progress along the way, so you always know exactly where you stand.
  5. Know your risk tolerance and the asset allocation that is appropriate for you. Your investment portfolio can help you move closer to your goals but taking on too much or too little risk can sabotage your efforts. Too much risk in a short timeframe can make it difficult if not impossible to recover losses. Likewise, taking on too little risk can jeopardize your ability to outpace inflation over time which can result in falling short of your long-term income goals. Working with a financial advisor to structure an investment portfolio aligned with your goals, timeframe and tolerance for risk can help you appropriately allocate your assets in a manner that inspires confidence.
  6. Know where to get the help you need. The more you know about your finances, the more likely you are to make clear, confident decisions that support your goals. However, managing your finances can be time-consuming. And the more you accumulate, the more complex your needs tend to become over time. That’s where experienced advisors well-versed in areas such as tax, financial, retirement and estate planning can not only help simplify financial and investment management but provide the information and knowledge you need to make clear, insightful decisions that support your goals at every stage of your financial journey.
To learn more about how we help clients through the financial planning process or if you feel we may be a fit to work together, contact the office today. As a valued 1st Nor Cal member, we invite you to contact us for a complimentary financial analysis. We also invite you to attend any Retirement Planning workshops that we hold. For more information about our practice, or to make an appointment, please call us at (925) 370-3750 or visit our website

2890 N. Main Street, Suite 201
Walnut Creek, CA 94597
Securities through First Allied Securities, a registered broker dealer, member FINRA/SIPC. Advisory services offered through First Allied Advisory Services, Inc. Registered Investment Advisor. Investments not FDIC or NCUA/NCUSIF insured, not insured by Credit Union, may lose value. Products offered are not guarantees or obligations of the Credit Union, and may involve investment risk including possible loss of principal. 1st Nor Cal CU, Bay Area Retirement Solutions and First Allied are all separate entities. Jason Vitucci CA Insurance Lic.: 0F59894, Gene A. Schnabel CA Insurance Lic.: 0663016

1111 Pine St, Martinez
538 Center Ave, Martinez
4261 Century Blvd, Pittsburg
560 First St, Suite B-106, Benicia
2500 Nevin Ave, Richmond
Mon - Wed: 9:00am - 4:00pm
Thursday: 9:00am - 6:00pm
Friday: 9:00am - 5:00pm

(888) 387-8632
Federally insured by the NCUA
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administrations, a U.S. Government Agency.
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
Recommended Five-Star Institution by Bauer Financial "Because peace of mind matters"
Recommended Five-Star Institution by Bauer Financial "Because peace of mind matters"
The information contained in this email (the “Content”) is provided for informational and educational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Content is not intended to be and does not constitute financial, investment, tax or accounting advice or a solicitation to buy or sell securities. The Content is necessarily general in nature and is not specific to you or anyone else. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX OR ACCOUNTING ADVISORS BEFORE IMPLEMENTING ANY ADVICE INCLUDED IN THE CONTENT. By viewing or utilizing the Content, you agree that you will not hold Marquis, Inc., 1st Nor Cal Credit Union or their affiliates or agents responsible for loss or damages resulting from the Content.
Copyright © 2024 1st Nor Cal Credit Union. All Rights Reserved. This email was sent to you by 1st Nor Cal Credit Union located at 1111 Pine St, Martinez, CA 94553.
If you no longer wish to receive emails from us please go here.
Security Key: F81A3897-792E-45DA-8CE5-42A85F010F20