Western Fraternal Life Golf Outing

The Education and Charitable Foundation hosted the eighth annual Golf Outing Fundraiser on June 13, 2014. On that beautiful day, 64 golfers headed out to try their luck on the course. The course had three specialty prize holes, two Holes in Ones and closest to the pin. The Hole in One challenges were far too difficult for the golfers as no one was able to win the $1,000 cash prize from Millhiser Smith or the $10,000 flooring makeover sponsored by Randy’s Carpet of Cedar Rapids. The closest to the pin, which golfers paid $5 to enter, was won by Dick Larson. Dick won an overnight stay at the Marriot in Cedar Rapids. The two longest putt contests were won by golfers Mark Elsinger and Kevin Paulsen.

anita and judy DSCN0635     Thank you to all the golfers and sponsors who came out to support the Education and Charitable Foundation again this year. Over $7,300 was raised to help support the Charitable Foundation. If you are interested in supporting Western Fraternal Life’s Education and Charitable Foundation, contact Jack Minder at 1-877-935-2467 ext. 113 for more information.

The Western Fraternal Life Education and Charitable Foundation is a 501(c)(3) charitable organization. It was formed to allow individuals to make tax-deductible donations to provide financial support toward the continued education of Western Fraternal Life members and to support charitable purposes.

You’ve Graduated, Now What?


You graduated, now what? Our financial expert, Julie Cole, has some advice to help you get on the right track!

Whether you are joining the working world or getting ready for college, starting out right can save you a lot of headaches down the road. Successful money management begins with setting goals, making a budget, researching  financial matters, finding good financial partners and working your financial plan.

Here is a road map for success:

1. Make a list of your needs and wants (or necessities) versus luxuries. Take some time to prioritize your needs or necessities.

2. Create a monthly budget. Maintaining a car tends to be the largest expense for most young adults. Make sure your budget includes all auto expenses such as oil changes, replacement tires, repairs, insurance, gas and licensing fees.

3. Educate and research the options and tools available to help you reach your goals. Make sure your choice of financial vehicles meets your need. Financial products are designed to satisfy a particular financial need. You use a retirement savings product to saving for retirement, but not to save for college. Shop around for savings and checking accounts at your local credit union or bank. Some banks and credit unions have “special” accounts for young adults or allow you to “piggyback” on your family household account balances to give you specials. Ask for a pre-approved “line of credit” on your checking account to avoid overdraft fees.

4. Start building an emergency fund. Set aside 10% of your income until you have a nest egg. For working individuals you will want to build up a nest egg equal to 3 months of fixed expenses. Fixed expenses are those expenses that you are obligated to pay and don’t stop even if you are out of money. Examples include: your rent payment, car payment and auto insurance.

5. Start building good credit. A great way to do this is by getting a credit card that has a $500 credit limit. Use this credit card exclusively to purchase gas for your car. Pay off the balance each month so you don’t incur any finance charges. After 6 months of paying the balance off, on or before the due date of the payment, you will have established an good credit score.

6. Use shopping lists to help you avoid impulse purchases. It is estimated that impulse buying results in wasting 20% of your money.

7. Ask experts for assistance. Identify people who are successful and smart money managers and see if they will “mentor” you. Find out what things they did to become financially successful.

According to an August 2010 article in the Wall Street Journal, successful small businesses generally have one thing in common. Those owners who wrote a detailed business plan, made an annual budget and had a “small business coach” were 10 times more likely to succeed than those who did not have all of those 3 important elements. Set goals, make a plan, educate yourself and seek quality advice. These few steps will help you avoid many obstacles and set you up for financial success.