Archive: Financial Education

Savings Tips on Mortgage Closing Costs

Saving for your next home’s mortgage loan can be a complicated undertaking. When it comes to payments, interest rates, taxes, and refunds — the math of it all starts to become a blur. Here are four tips our mortgage lenders recommend to help you get started. Open a Separate Savings Account more

Deposit Interest Rates and APYs Explained

When it comes to saving money, you might shop around before choosing an account where you want to deposit your money. When you do, ‘Interest Rate’ and ‘APY’ are words you will see and hear as you look at deposit products such as savings accounts, money markets, and certificates of more

Understanding IRAs and Taxes

Are you saving for the future? Individual retirement accounts are a common way to put money aside for your retirement years. However, do you understand the difference between traditional and Roth IRAs and how these accounts can affect your taxes? Let's break down how IRAs function and how they can more

Personal Savings

As we continue into the new year, it’s a good idea to schedule some time to review your financial health. One step you may be thinking about taking is starting or growing your personal savings. A savings account can serve you in the following ways. Spend Without Borrowing or Using CreditA more

7 Tips to Prevent Tax ID Fraud

As tax season gets underway, the American Bankers Association is urging all consumers to take extra precaution when filing their return to prevent their exposure to tax fraud. “Fraudsters are using very clever tactics to get a hold of your personal information and submit false tax claims,” says the ABA. “Consumers more

Are You Keeping Up with Your Financial Fitness?

As important as it is to monitor your health, it’s also beneficial to keep up with your financial fitness. Your financial fitness determines how much your financial status impacts your day-to-day life, how on track you are towards achieving your financial goals, and if you’re able to cover emergency situations. more

Holiday Spending Tips

Ready to start your holiday spending? Follow these five simple tips to stay on track with your expenses: Start with a list. Make a list of the people you want to purchase a gift for. Then, make a second list of your other planned holiday expenses — gas, hotel stays, more

Save for College with a 529 Plan

For many parents, the opportunity to pay for their children’s education means setting them up for success later in life. Among the myriad of savings options available, 529 savings plans offer a wide range of benefits that provide flexible ways for families to save. Ryan Mefford, a Financial Advisor at more

Credit Tips for College Students

When college students start heading back to school, it's the perfect time to start thinking about credit. Every financial decision someone makes, even in high school, can affect credit. That's why being informed is so important. The more knowledge someone has, the better chance they have of succeeding. Below is more

Financing Your Home with a Low Down Payment Mortgage

Buying a home is a landmark decision — but what if you can’t afford a down payment? For some, coming up with the traditional 20% down payment necessary for buying a home can be a challenge based on numerous circumstances. However, low down payment mortgage options from First Mid can more