Guest Opinion: Building Financial Resilience in Bend's Changing Economy
Over the past few decades, Bend has transformed from a hidden gem into a vibrant hub of culture, cuisine and concerts. With this growth, our community has also seen rising costs and real estate prices (3.6% in the last year alone) for those who call Bend home. As manager of OnPoint Community Credit Union's Bend downtown branch, I see these challenges as opportunities to help our community become more financially resilient, confident and ready to navigate our changing economy.
Here are five strategies I recommend to help you not only weather these historically high prices, but emerge stronger:
Conduct regular financial wellness checks. Regular financial wellness checks can help you stay on top of your financial situation, identify areas for improvement and adjust strategies to meet changing economic conditions or personal goals. Meet with your financial institutions and ask questions. Are there options for reducing any loan or credit interest rates? Are there alternatives for savings that might come with better interest rates?
Assess your budget and financial habits. Bend's growing appeal has led to increased living costs, particularly in housing and recreation. After you conduct a financial wellness check, assess your financial habits and adjust your budget to accommodate these changes. Prioritize items that are "needs" and look for creative ways to enjoy the "wants" so you can take advantage of what Bend has to offer while pursuing your savings goals.
Build a financial cushion. Given Bend's dynamic economy, having a financial safety net is more important than ever. If you haven't already, start building an emergency fund to cover unexpected expenses, such as home repairs or sudden changes in employment. Make this part of your budget each month and consider setting up automatic deposits from your paycheck into a separate bank account. This cushion can provide peace of mind and financial stability.
Seek out personalized financial education resources. When economic conditions are constantly evolving, staying informed is key. Bend's diverse industries — from tourism to tech startups — mean that residents' financial needs can vary greatly. Take advantage of the financial education resources local Bend institutions offer. Workshops, seminars and one-on-one counseling can provide valuable knowledge on budgeting, saving and investing, helping you to make informed decisions that align with your lifestyle and goals. Tailored advice and products may be available at your financial institution, designed to help freelancers, small business owners and anyone in between.
Engage with community support. Bend's community is one of its greatest strengths. Engage with local groups and networks that share financial tips, investment opportunities and support systems. Collaborating and sharing experiences with fellow Bend residents can uncover new strategies for financial success and foster a sense of solidarity in navigating economic challenges together.
The growth we are experiencing in Bend brings both benefits and challenges. But by being prepared, taking advantage of local resources and staying ready to adapt, you can best position yourselves to be successful no matter what change brings. My team and I would be happy to sit down with you and help make a plan to help you stay financially resilient (and still enjoy this wonderful community).
— Bonnie Pearce, branch manager, OnPoint Community Credit Union downtown Bend
RE: BPRD needs to make public dog parks safer for all! Letters, 8/1
I returned from vacation on Monday to read the following statement in a Letter to the Editor appearing in the Source Weekly (8-1-24):
"I went to the BPRD district office to speak with staff as I feel much can be lost in written communication, however, no one was available. Later I incredulously received a threatening email to have me arrested for criminal trespass because I entered the district office!"
As an individual who received a 30-day exclusion for a valid reason in 2016, the logic and actions of all parties in this circumstance appear questionable. I find it to be unacceptable interpersonal communication, contrary to BPRD's core values and constitutes a certain rudeness.
Additionally, I have similar concerns regarding closed government at the City of Bend. It is the same logic and actions that the locked Administrative Office door represents prior to entering the reception area at City Hall. It devalues individual opinions over "group think" and moneyed interests. Why are Bend's government organizations afraid of interpersonal communication with citizens and residents?
—Justin Gottlieb
New documentary about protecting old growth trees
I recently watched a documentary called "Crown Jewels" by Alex Haraus about old growth forests all across the U.S., including here in Oregon, and how we can help protect them. This film was very informative and inspiring. My biggest takeaway is that we need lots of public support and pressure if we want to see change. The part of the film that most impacted me was when they showed the before and after of clear cuts and how it affects the people and communities that live around there. Old growth trees and forests are really important because they help provide clean air, clean drinking water, important habitats for wildlife that depend on them, and they also help fight climate change because big trees can store lots and lots of carbon dioxide. I love hiking in our forests in Central Oregon and I hope to see them protected. My future and all of our futures depend on it. There will be a free screening of "Crown Jewels" in Bend on Monday, Aug. 26. You can visit oregonwild.org/get-involved/webcasts-events/ to learn more. I highly recommend that everyone watch this important film and learn about why our forests are worth protecting and how we can protect them! You can be the difference. Just one person can make a big impact.
—Sara Pipinich
Letter of the Week:
Thanks for the info, Sara. Letter of the Week!
—Nicole Vulcan
