Managing Your Money

Managing Your Money

Pros and Cons of Overdraft Privilege

Whether it’s a mistake balancing your checkbook or an unexpected expense, an overdraft incident happens to almost everyone. There are mixed views on overdraft privilege services. Let us help clarify so you can find the best fit for your needs.

Everyone's Money Needs a Plan

It doesn’t matter where your money comes from: hourly wages, salary, commission, pension, Social Security or trust fund. If you don’t have a plan for your money, you won’t get the maximum benefit. And you’ll spend too much time and energy worrying about it. A good financial plan puts structure and intention into your financial life. It helps you pace your spending, saving and borrowing through the tight years as well as the prosperous ones to avoid the chaos of a feast-or-famine existence.

Putting Wealth to Work for You and Your Heirs

Whether you earned wealth or inherited it, chances are you want to spend some, save some, give some and leave some for your loved ones. If you’re still working, you likely have plans to retire someday, with many goals and life events in between. How can you put your wealth to work for you throughout your life and beyond? First and foremost, find a trusted, experienced and certified professional to help you put an active plan in place and revisit it annually to adjust for market conditions, evolving goals and unexpected curveballs.

Keeping Your Cards Safe from Fraud

As credit card rewards get more popular, the volume of credit card transactions is rising sharply, along with opportunities for fraud. According to the Nilson Report, 131 billion credit card transactions were processed in the U.S. in 2021. Luckily, rewards aren’t the only appeal. Unlike debit cards, most credit cards offer cardholder protection against fraud loss. But to take advantage of that protection, either the cardholder or their bank has to catch the errant transaction. Banks and cardholders both have strong incentives to ward off fraud. Here's how to keep your cards safe.

Shopping for interest rates? Keep this important advice in mind.

For the first time since 2018, the Federal Reserve has raised its benchmark federal-funds rate by one quarter of one percentage point. This news doesn’t just affect banks and bankers; it also has an impact on business and personal finances. A rising rate environment might draw your attention to the money you are saving, the interest you pay on loans and credit cards, and (most importantly!) how your finances fit together. Eventually, you may see flyers and postcards offering promotions and bonuses for your deposits. Are they worth taking?

Strategies to Prepare for Tax Increases

As lawmakers and administrations change in Washington, the direction of the federal government and its tax policies change with them. Even if you can’t yet be certain what the final rules will be, you can easily tell the direction far ahead of time and prepare accordingly. So if increased taxes are on the way, in whatever form they take, what can you do to minimize the impact on your financial plan?

Why You Need a Letter of Last Instruction & How to Write One

Even with wills and careful estate planning, families can still be left with difficult problems after a loved one dies. A detail missed or vital account that can’t be accessed complicates their path forward during a sad and difficult time. A letter of last instruction isn't a legal document, but it can be the key to making sure everything is accounted for and accessible to the family members left behind. What should you include?

Changes at USPS Could Affect Your Banking Services

The U.S. Postal Service recently announced a cost-cutting plan that will slow down some first-class mail beginning Oct. 1. The changes are expected to affect long range deliveries most, especially those that have to be flown to their destination, but USPS has warned that it could take up to five days for any first-class mail to be delivered. What does this mean for your finances?

How Proposed Federal Tax Changes Could Affect You

President Biden’s three-part tax program has been released as part of his fiscal year 2022 budget. The first phase, the American Rescue Plan, was enacted in March 2021 provides a child tax credit advance in addition to some other temporary tax relief measures. The other two components to Biden’s tax proposal are the American Families Plan and the American Jobs Plan. Before becoming law, Congressional approval is required. As currently proposed, here is a summary of what President Biden has requested.

Being Prepared for and Walking Through Medical Crisis

Life changed in an instant when Jeremy and his son were struck by an emergency and the ensuring medical crisis. Learn from his experience with the steps he's grateful he had taken prior to that moment and the things he wishes he had done to make the journey smoother.

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