Your May Financial To-Do List

May 22, 2023

1. Stop Paying PMI
If you bought your home for less than 20 percent down, you've probably been paying private mortgage insurance (PMI) on your loan, typically an extra 1 percent of the purchase price. If your equity position is now at least 20 percent of the original purchase price, you may not have to pay mortgage insurance anymore. Contact your mortgage servicing company to see whether they can remove the PMI. You may have to pay a few hundred dollars for a new appraisal, but you could save thousands per year.

2. Take Advantage of '529 Day'
The college savings industry has embraced May 29 as "529 Day," an opportunity to remind parents of future college students of the benefits to saving in a tax-advantaged 529 college savings account. Money put into a 529 plan grows tax-free, and you won't pay any taxes on withdrawals used to pay for college. 

3. Dispose of Unneeded Financial Documents
This is a good time to weed out financial documents you no longer need. How long you should wait before disposing of a document varies. Generally, you can throw tax documents after seven years. Also, look into removing documents that are stored on your computer, external drives, and mobile devices.

4. Review Recurring Charges
Small charges can slip through unnoticed, especially if they're recurring fees for a service you keep meaning to cancel. But these small fees add up quickly. Take a look at your most recent credit card statement and highlight any charges you could eliminate. Contact the companies to cancel your subscription—and try your luck at requesting a refund for previous charges as well.

5. Budget for Home Improvement Projects
May is a great time to find deep discounts on materials for the home improvement projects you plan to tackle this summer. Whether you want to install a new deck or replace the front door on your home, you'll save money if you make these purchases now, rather than in the middle of the summer. Even if you aren't quite ready to get to work, you can still determine what materials are needed so you can take advantage of the great sales this month, especially around Memorial Day.

*Brought to you by Catholic Charities Financial & Housing Counseling program:

(320) 650-1664

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A Day of Joy and Connection at Pond View Estates

By Brittany Hoversten • March 13, 2025
On Tuesday, January 28th, a group of students from Trex North School visited Pond View Estates in Albany, organized by Sandy Baldwin, group leader, and in collaboration with Catholic Charities in St. Cloud. Julie Ueland, the student advisor, helped oversee the project to ensure everything went smoothly. Pond View Estates is a Senior Dining Congregate Kitchen, where seniors gather to enjoy meals and socialize, making it a perfect environment for these students to connect with the residents. When the students arrived, the residents were delighted by the youthful energy and enthusiasm they brought. The students quickly got to work helping the seniors create Valentine’s cards before lunch. The atmosphere was filled with creativity and laughter as everyone worked together to make colorful and thoughtful cards. Afterward, the group enjoyed lunch together, where the dining hall was full of lively conversation. The students interacted with the seniors, hearing their stories and building new connections. The visit bridged generations, fostering meaningful and joyful interactions. The highlight of the day was the bingo game that followed lunch, where excitement filled the room as the numbers were called. Friendly competition brought plenty of laughs, especially when someone was just one number away from winning, only for another participant to grab the prize first. The fun, camaraderie, and shared moments left everyone smiling. A few standout interactions included Joseph and Riley spending time with resident Victor Tschida, and Tianna sharing a special moment with resident Ken Bunger. These connections highlighted the deep impact of intergenerational friendships. For many of the residents, the visit from the students was an unexpected but cherished experience, reminding everyone of the importance of making time for one another. It was a beautiful day of fostering community, connection, and kindness. As the students prepared to leave, there was a sense of fulfillment in the air. Not only had the day brightened the seniors' lives, but it also left a lasting impression on the students, who gained a deeper understanding of the joy and fulfillment that comes from spending quality time with others. The day ended with smiles, hugs, and promises to return, a reminder of how powerful and meaningful human connection can be.

Volunteering at Lincoln Elementary

By Brittany Hoversten • March 5, 2025
At Lincoln Elementary in Little Falls, the pre-K classroom thrives thanks to Miss Maranda and Dorothy, a Foster Grandparent volunteer. Ms. Maranda values having Grandma Dorothy in the room. "It's great to have someone with a fresh perspective who connects with students," she says. Dorothy helps students with academics and brings a caring approach to the youngest learners. Dorothy enjoys her role, finding it both fun and meaningful. "The kids are so much fun, and I'm happy to help with lessons that impact their learning for years," she says. The appreciation between Miss Maranda and Dorothy is mutual. "Dorothy brings positivity, is helpful and kind, and has become an integral part of our classroom team," Miss Maranda shares. Dorothy feels valued, especially when teachers note her impact on students. "When my teacher tells me, 'I can tell which students you've worked with,' it lets me know I’m making a difference," Dorothy says. Their collaboration has led to touching moments, such as a student hugging Dorothy at Walmart. "It shows the lasting connection we’ve made," Dorothy recalls. Miss Maranda echoes this, saying, "We’d gladly welcome another foster grandparent into our program. It’s refreshing to have a grandparent figure who makes a lasting impact on both learning and relationships." Dorothy’s support is important for struggling students. "I love encouraging them to do their best," she says, finding joy in seeing their proud faces when they grasp a concept or complete a project. The partnership between Miss Maranda and Dorothy highlights the impact of volunteers. Dorothy’s positivity, support, and perspective enhance the learning experience and provide invaluable help to teachers, showcasing the mutual benefits of the Foster Grandparent Program.
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