Author Archives: FSSB Blogger

Make Purchases Simple – Top 5 Reasons You Need a Debit Card

Make Purchases Simple – Top 5 Reasons You Need a Debit Card

If you don’t have a debit card, don’t worry these top five reasons will convince you! If you’re reaching to make purchases, a debit card is a great asset to your wallet and financial freedom. Keep reading to learn the top ways a debit card makes your purchases simple.

1.    Makes Purchases Convenient and Simple

Ever reached into your wallet and are short cash? Having a debit card on hand makes it incredibly easy to either withdraw funds from an ATM or your bank or simply use the card to make your purchases instantly. A debit card can truly be your only form of payment wherever you are. A debit card allows you the freedom to make everyday purchases conveniently and you can track your spending instantly from your FSSB mobile app.

1.    Budgeting Made Easy

When you use your debit card, you are withdrawing money directly from your checking account. If you are working towards bettering your budget, a debit card is a great tool to help you do so. When you make a purchase with your debit card you will be notified right away and have a mobile receipt to help keep your budget in line. 

2.    Safe Form of Payment 

One of the huge benefits of utilizing a debit card is the safety factors. With a debit card, you can make secure purchases and not have to worry about carrying cash. With your debit card, you can be notified every time your card makes a purchase, that way if it is a fraudulent purchase, it can be reported through FSSBimmediately. If you lose your card, don’t worry you can cancel it immediately and have it replaced.

3.    Debit Cards Can Reward You 

Depending on the debit card you get, you can earn rewards simply by using it! To learn more about the specifics of our debit cards, head over to our website

4.    Makes Paying Bills Effortless 

One of the huge benefits of using a debit card is the ability to set up your bills automatically to be paid. This will help keep you away from a late fee or interest. This is a huge benefit to bettering your credit score. With a debit card, you will avoid having to make a big payment as it comes directly from what you have in your checking account. Many find they are likely to spend less and be less of an overspender when what they have is what they can spend. 

If you are looking to get started on a debit card, we can help! At FSSB we are focused on making your day-to-day financial goals effortless and with a debit card payment is made easy, safe, and convenient. 

Have You had a Financial Checkup?

Have You had a Financial Checkup? 

A regular checkup with your doctor or dentist is a time to make sure your health is on track, there are no big concerns, and things are functioning normally. You are making your health and well-being a priority, which is great because you want your body to function properly and effectively for many years to come. When it comes to your personal finances, how often are you doing a checkup? You need a banker just like you need your doctor or dentist. Keep reading to learn what a financial checkup is and how often you need one!  

What is a Financial Checkup? 

A financial checkup or review, as it’s more commonly called, is an examination of your overall finances to include your goals, budget, current debt, upcoming planned expenses, retirement needs, and more. A financial checkup can be done yourself or with a financial expert at FSSB. The benefit of working with a financial expert is the assistance they provide in working through your finances to build a plan to meet your financial goals. They can offer ideas and can help you explore alternative options that you may not have considered, or even be aware of.  

Benefits of a Financial Checkup 

It’s never too late or too early to schedule a financial checkup. Consult your banker to help assess your financial situation. Establishing a good relationship with your banker will not only be beneficial to your finances but to you for years down the road. A financial checkup will set you up for success in the short and long term as you piece through your goals and how best to reach them.  

When You Need A Financial Checkup?  

Now that we know what a financial checkup is, the big question is do you need one? The answer is ABSOLUTELY! Everyone, no matter where you are in your financial journey should set aside time for a financial checkup just as you do for your health. As the saying goes “your health is your wealth.” Regularly reviewing your finances, money habits, and goals will indeed provide you with more financial stability in the long run.  

How Often Should You Get a Financial Checkup?  

Experts recommend scheduling a financial checkup annually, but you may want to have check-ups more frequently to review your financial standing and goals. Along with an annual financial checkup, there are instances when you should include an additional check-in. You should always have a checkup when big life changes occur. This includes marriage, buying a house, having children, divorce, kids going to college, a large unplanned expense, retirement, starting a business—really anything that could drastically change your financial plan.   

At FSSB, we are here to guide you in the right direction and help you reach your financial goals, possibly including establishing an emergency fund, saving for a big purchase, borrowing to realize a lifelong dream such as a house or business, and much more. Schedule a meeting with your banker today to make sure your finances are on track and your money is working effectively for you for many years to come! 

Advantages of Local Mortgage Lenders

Advantages of Local Mortgage Lenders 

When it comes to real estate FSSB understands it’s a localized market. If you are in the market for a new home, it is extremely important to understand the advantage of working with a local mortgage lender. In this blog, we will outline the top advantages and benefits of working with a local mortgage lender. 

#1 Local Expertise 

When it comes to a profession, most would agree your knowledge is unique to the market you serve – that is no different when it comes to real estate. A mortgage lender’s knowledge and resources are unique to their area served. Using a local lender benefits you highly in the sense of these neighborhoods are their neighborhoods. Working with a lender who is knowledgeable of your local market will keep you ahead of the game when it comes to purchasing your dream home. Every town and neighborhood is different, a local lender will know the ins, outs, good, bad, and unfortunately the ugly. A local mortgage lender will help you navigate through all of this! 

#2 Local Network 

A huge advantage of pairing with a local mortgage lender is the cultivated relationships they’ve built within the community. Local lenders have spent years building relationships throughout the community to properly serve them. Your local lenders have vast working relationships and networks of support services, including local appraisers, title companies and real estate agents. Some lenders can even recommend interior designers, landscapers, contractors, plumbers, pool services, you name it! You deserve a lending partner who will put just as much work into making sure you have the right home loan to make purchasing your dream home a reality.

#3 Local Approach 

Local lenders are available in the neighborhood you desire. The loan process can be difficult, but with an expert local lender, your next mortgage process will be made simple with guidance every step of the way. Purchasing a home can be an extremely overwhelming, confusing, and anxious process a local lender will be able to provide a localized approach to give you peace of mind. What is a localized approach? When using a local mortgage lender, you’re not routed through a call center, you don’t receive an auto-reply email and you don’t have to explain your situation to nine operators in the hopes that you’ll one day end up in the right hands. A local lender offers personalized service with a dedicated support team. 

#4 Local Communication

When working with a local mortgage lender, the communication and service you will receive will be unmatched. Local lenders are more likely to create an experience that matters, while cohesively making it the best process tailored to you. A local lender will know how to communicate in the area, as well as who best to partner with, if need be, to work through a portfolio of loan options. 

#5 Working with FSSB

At First Security State Bank our local mortgage lender are ready to serve you throughout your home loan process. We are always here to field questions, comments, and concerns, so feel free to contact us anytime. We are happy to go over your unique situation before determining the ideal loan program for you based on your goals and your desired market. Visit our website today to learn more about our mortgages and connect with a local lender. 

Don’t Overspend This Holiday Season: Steps to a Better Budget

Don’t Overspend This Holiday Season: Steps to a Better Budget  

Summer has flown by and that means the holidays will be here before we know it. Setting a budget is crucial for not overspending during a very expensive time of year. Start saving and setting your budget now so that when the holidays arrive you aren’t scrounging to stay within your budget. Here are the top steps for creating a budget for the holidays, as well as some savings tips. 

Step 1: List Out Your Known Holiday Expenses 

Your best strategy to avoid overspending is to set and stick to a holiday budget. It is very important to list out early your known holiday expenses and remember the spending doesn’t stop with gifts. Plan for hosting, food, entertainment, holiday activities, decorations, travel, donations, cards, wrappings, stocking stuffers, work Christmas parties, or anything you typically spend money on during your holiday season. 

The process of creating your holiday budget is similar to your household budget – list all expenses and add them up. Seeing this total, you can evaluate if it is within reach or if you need to tighten up your budget. As you shop this is a list to refer to and decipher how much to spend on each item as you check off your list. 

Step 2: Set Your Spending Limit

The most important step is to identify how much you can afford to spend and set your spending limit. This amount should come out of cash or savings to avoid relying on debt. Look at your list of holiday expenses and remove items, if at all possible, and compare what you’ve totaled up to the money you have set aside for holiday spending. If your total is within reach, this is a time to be creative with how to save a little extra over the next few months to continuously set aside money for your holiday budget. Here are some ways to save extra:

  • Buy gifts early and on-sale
  • Shop Black Friday
  • Sell some things
  • Pick up a side hustle
  • Cut back on buying wants 
  • Reduce social spending
  • Tighten your budget up and send additional savings to your holiday fund
  • Take a holiday job

Step 3: Number Your Priorities

The holidays can be overwhelming if you don’t plan in advance, set your spending limits, and save, save, SAVE! To relieve some holiday anxiety, set your priorities and do not feel bad doing so. If your expense list seems to be long, it’s ok if you can’t afford every single item, that’s where your priorities come in. Go through your list and assign each item a number based on its importance. Rework your list, putting your high-priority items at the top. Your high-priority items should be the first you save for and purchase. 

For example, suppose you decide that purchasing gifts is your top priority, while new holiday clothes for yourself are a low priority. As you work out your budget, you would allot more items to your gift fund than your clothing fund, possibly even waiting to purchase clothing until gifts are all purchased, and you have room in your budget. 

Step 4: Re-Work Your Budget; Allocate Funds

Allocating your funds is figuring out how much money to put towards each item on your list. Examine your list to roughly estimate how much each item costs and how much you plan to spend. Keeping this list realistic and projecting costs to be higher will keep you within your spending limit. If you have 20 gifts to buy, budget for each of these gifts at a doable cost. 

Step 5: Check in On Your Holiday Savings and Budget

When you have added up the amounts you’ve allotted for your items, be sure this equals the total you set as your spending limit. If it doesn’t match up, this is the time to rework your savings plan or lower the budget for one of your priorities. Consider scaling back on activities or even how elaborate your holiday party may cost. This is where you can reference your numbered priorities list and see what can be rearranged to keep you within your budget. 

As you begin to shop and plans change, KEEP TRACK. Keep notes of expenses and receipts to know where you stand on purchases and stay within your desired spending limit. Don’t risk blowing through your budget by simply being unorganized or overspending. If it makes it easier, open an account specific to holiday spending to help you keep track of how much you’ve spent and to reference the cost of items as you shop. You also could create cash envelopes to keep priorities separate. 

There are several ways you can get ahead on holiday spending this year! The best thing you can do is start planning and saving now – you’ll thank yourself for a great financial start in the new year!

Home Equity Loan vs Home Equity Line of Credit

Home Equity Loan vs. Home Equity Line of Credit 

A Home Equity Loan and Home Equity Line of Credit are both loans that use your home as collateral. Though they are very similar, they are different loans. Keep reading to learn what a Home Equity Loan and Home Equity Line of Credit are, their differences, and their benefits!

What Are They?

A Home Equity Loan and Home Equity Line of Credit, commonly known as a HELOC, are both loans which use your home as collateral. Both are fantastic options for borrowing money if you’ve paid down a significant portion of your mortgage. 

Home Equity Line of Credit: A HELOC is a line of credit in which the lender will agree to lend a maximum amount within an agreed-upon period and variable interest rate. Essentially, a HELOC uses a percentage of your home’s equity to provide a revolving line of credit, much like a credit card. Your monthly payments with a home equity line of credit will change over time. With a HELOC, disbursement of funds is as needed and repayment is interest-only during the draw period; repay principal and interest afterward.

Home Equity Loan: A home equity loan is very similar; however, a home equity loan is a lump sum that is disbursed upfront and paid back in fixed installments. Your monthly payments will be the same each month. With a home equity loan, disbursement of funds is an upfront lump sum and repayment starts as soon as the loan is disbursed. 

The Main Difference

HELOC: The main trait of a home equity line of credit is the interest rate will vary. Your monthly payments with a home equity line of credit will change over time. With a HELOC, disbursement of funds is as needed and repayment is interest-only during the draw period; repay principal and interest afterward.

Home Equity Loan: With a home equity loan your interest rate is fixed. Your monthly payments will be the same each month. With a home equity loan, disbursement of funds is an upfront lump sum and repayment starts as soon as the loan is disbursed. 

Pros and Cons

Home Equity Line of Credit (HELOC) 

Pros:

  • You only borrow as much money as you need
  • Flexible repayment
  • Tax deduction
  • May come with little to no fees

Cons:

  • Variable interest rates (changes based on market fluctuation)
  • Not a set repayment plan (can be a pro for some)
  • Maybe more debt to repay as it is a long-term credit option
  • Could lose your home if you default on the HELOC

Home Equity Loan

Pros:

  • Fixed interest rate
  • You borrow a lump sum to use for nearly anything
  • Little to no fees
  • Tax deductible
  • Set repayment plan (could be a con for some)

Cons:

  • Best terms go to those with a good credit score
  • Need a lot of home equity 
  • If property values decline, you owe more than your home is worth
  • Could lose your home if you default on the loan

As you can see, a home equity loan and home equity line of credit are fantastic options for homeowners. Now that you know the benefits and main differences, which is best for you? These loans are a great source of value to access cash for renovations, large purchases, home remodel projects, college tuition, a new vehicle, or nearly any other need. Visit our website to learn more or stop in to talk with a lender!

Fall/Winter Bucket List Activities

Fall/ Winter Bucket-List Activities for Less

As winter closes in, take advantage of the change in season by creating your very own winter bucket list! Here are some quick and easy cold-weather activities to keep you, your friends, and your family busy this winter. 

Host a Tailgate Party 

‘Tis the season for yummy food and FOOTBALL! Hosting a tailgate party to cheer on your favorite team is a great excuse to get together and eat some yummy food! Need a dish? Include one of these recipes or incorporate some of our winter ideas below.

Create Your Very Own Hot Cocoa Bar

You can’t enter the wintertime without sipping on a hot chocolate! Spruce up your typical hot chocolate with flavors and of course, whip cream! A hot chocolate bar is a great wintertime dessert option to enjoy cozying up with your family for movie night, or as a make-your-own at a family or friend gathering. 

Here are some hot chocolate ideas: 

Try Ice Fishing  

Bundle up and see what you can catch ice fishing! Spend a relaxing day on the ice trying out a new hobby and potentially catching your dinner. 

Craft Your Own Chili 

Chili is one of the most loved winter dishes. Perfect your chili recipe this winter! Take it a step further and host a chili cookout. Invite your friends and family to bring their chili and rate the best one or simply serve your chili and encourage guests to bring a chili topping to share.

In case you need a recipe to follow, here are some delicious chili recipes to try!

Schedule Time For Scrapbooking 

Scrapbooking is a perfect cold-weather activity to get caught up on or simply spend a day trying out! Yes, scrapbooking is still a thing and is a fun activity for both adults and kids. There is no better time to organize your boxes of unorganized photos than on a chilly winter’s day. 

The Ultimate Snow Day

There is no better way to embrace a snowy winter day than spending it out in the snow! Plus this is a great activity for adults and kids. Plan a day to do some tubing and sledding. Don’t forget to make a snowman too. If you have a ski resort nearby, many offer tubing along with skiing and snowboarding – give it a try! 

At-Home Movie Night 

How fun would it be for the whole family to have an evening camping in the living room? Movie nights are a great way to enjoy a night in with your favorite snacks and a holiday movie! If this is an afternoon activity, consider creating your own indoor picnic spread to enjoy. Pack your living room with pillows, blankets, snacks, books, games, and even a projector screen to watch your movie or binge-watch a show. Take this time to disconnect and spend some quality time together. 

Take a Class 

Winter is a great time to learn a new skill or find a new hobby. Here are some ideas for classes you could try out! 

  • Yoga
  • Cooking 
  • Painting
  • Scrapbooking
  • Wine Tasting
  • Wine Making
  • Charcuterie Making
  • Pottery Making
  • Wreath Making 

Winter Baking Day 

One of the best parts of the holidays is the sweet treats involved! Take a frigid day to enjoy some baking. Bake and decorate your desserts to share. This is a creative idea for the kiddos or a day activity with friends. From gingerbread men to sugar cookies, you’ll be stocked with sweets. 

Winter Photoshoot

Anytime you can get the family together is a blessing, but a photo of the memories is even better! Here are some winter photoshoot ideas to try with your family. 

Embrace the chilly weather and have just as much fun as you did this summer with these cold weather bucket list ideas!

What is a Certificate of Deposit

What is a Certificate of Deposit? 

Do you know what a Certificate of Deposit is? Today we are going to outline the top 5 reasons you should open a Certificate of Deposit (CD), what a CD is, and why it financially makes sense to open one now. Keep reading to learn about the benefits of a Certificate of Deposit at FSSB.

1. What is a Certificate of Deposit (CD) 

For the folks who think the market is the only place to invest your money, we hope to change your mind by the end of this blog. A Certificate of Deposit is a product that provides an interest rate premium in exchange for the customer leaving a lump-sum deposit untouched for a predetermined period of time. Investing your money is the best way to make your money work for you – consider opening a CD with us to work yours.  

2. CDs Have Higher Interest Rates  

What you may not know is that CDs pay a significantly higher interest rate than savings accounts or money markets as long as you leave your deposit untouched for that predetermined period of time.  

3. If You Don’t Need the Money Immediately, Put it in a CD

There is a reason CDs pay higher interest rates than savings accounts and we are going to fill you in on why. You can pull your money in and out of your savings account as you please. With a Certificate of Deposit, you’re required to lock your money in for a set amount of time. With that being said, if you absolutely have to withdraw money from a CD you may experience a fee.  

So to put it simple, if you have a chunk of money saved that you don’t need immediately it is worth it to open a CD and stash it away. As the saying goes, make your money work for you and it absolutely will if you move it from a Savings or Money Market account to a Certificate of Deposit 

4. CDs are Safer and More Conservative Investments

Certificates of Deposit accounts are known as a safer and more conservative investment option in comparison to stocks and bonds as they offer lower opportunities for growth, but with a non-volatile, guaranteed rate of return. Although you lock into a set period of time when you open a CD, there are options for exiting early should you encounter an emergency or change of plans.  

Money Mistakes to Avoid Around the Holidays

Money Mistakes to Avoid Around the Holidays

As the holiday season nears, it is important to make changes to efficiently budget for your expenses. Here are some holiday money mistakes to avoid this year so you don’t have to start 2023 in financial regret!

1. Not Setting a Holiday Budget 

We’ve all been there and unfortunately have learned from our mistakes. Not setting a holiday budget will get you quick and set you back financially if you don’t better your budget. It is important to not only budget for gifts, but family events, holiday activities, supplies, and even décor. A $50 – $100 gift per person adds up fast – some of those people you’re closest with even potentially getting more than one gift. 

To overcome this, create a list of every person you need to get a gift for, as well as any grab bag/secret Santa gifts you know you’ll be partaking in. Next, set the maximum amount you will be spending. This is completely up to you, just be sure to be realistic with your amount accounting for gifts and such. After you set a maximum holiday budget, start allocating amounts to your categories, such as gifts, activities, hosting, supplies, etc. As you do this maybe you need to remove something or adjust your budget for that category. Jot down ideas you plan to get each person as soon as you can so you have time to shop around for the best deal! 

Here are some common Christmas expense categories to consider: https://bit.ly/3OCxMb0 

 

2. Not Saving Throughout the Year 

Not saving throughout the year will lead to stress, overspending, and a busted budget. To alleviate stress, start saving early by taking your budget and dividing it by the months you have until the holiday season. Doing this will ensure you are taking proper steps to reach that savings amount by the time the holiday expenses start rolling out. 

If you haven’t saved as much as you would like this year, don’t worry! What you can do is see what you have saved, available to add to your holiday fund, and make an automatic draft from your checking account to your designated savings – possibly more than before to reach your savings goal. 

3. Splurging too Much on Yourself

As much as you’d like to, don’t splurge too much on yourself leading up to this holiday season. Many people end up buying themselves something for Christmas and that’s completely ok! After spending money on friends and family, we all tend to find items we’d like or would like a little spoiling ourselves. 

If you are thinking of buying yourself a gift this holiday season, here are a few pointers before you do so to be positive your budget is on track first. 

  • If you see something you like, don’t make a purchasing decision for at least seven days. In most cases, you’ll find that your desire for that thing has gone away.
  • Make an honest assessment of whether you can afford the item and how it will affect your next purchases and expenses. This purchase should not set you back!
  • Set up savings to save up for this purchase. Wait to get it until you reach your goal. 
  • Wait until after the holidays. Save up gift cards and cash earned to put towards it. 

4. Don’t Spend on Every “Good Deal”

Sales are all over during the holiday season, but it’s important to not jump at every sale you see. Even though you see a deal it is still costing you money. Before you are sold on a sale item, ask yourself these questions: 

  1. If this item wasn’t on sale, would you still want it?
  2. What will you be using it for? 
  3. How will you pay for it? Does it fit in your budget?
  4. Is there a better item to get or better use for your money? 

5.    Not Remembering Your Long-Term Financial Goals 

Remember, the holidays are not meant to be all about money. Focus on spending time with friends and family, creating core memories. No gift is worth derailing your long-term financial goals. It is important to remember your long-term goals outside of the holidays as well as what is to come in the upcoming months. Though you may feel it is ok to splurge here and there, it is important you keep your financial stability and goals in mind with each and every purchase. 

Stick to your budget this holiday season by not making any of these mistakes! If you haven’t worked through your holiday budget and started saving, here is your push to start now. 

Cybersecurity For Your Cellphone

Top Cybersecurity Practices for Your Cellphone

We use our mobile devices for just about everything these days – work, social, personal, etc. If we do not proactively take steps to protect ourselves on our devices, we are allowing ourselves to be vulnerable to phishing, hackers and compromised data. Take a minute to read up on some top cybersecurity tips as a reminder to make sure your cellphone is secure. 

Educate Yourself on Best Cybersecurity Practices

Effectively educating yourself on the top cybersecurity practices frequently will ensure your privacy and safety on your device. When your phone is not secure, data leakage is extremely common. We all use our mobile devices to browse the internet, apps, and most commonly email. Email phishing and spam attacks are huge and can be a huge breach of your data if you are not addressing them immediately.

Secure Your Phone

Accurately securing your phone is crucial to good cybersecurity. Having a password is key to ensuring your phone’s security. Creating a good password, whether that be a combination of numbers and letters, your fingerprint, facial recognition, or even eye recognition will boost strong security. It is very smart to also have your apps password protected to add another layer of security. 

If possible, incorporate a two-factor authentication. This is a great option for apps you use less frequently or that have a lot of personal data in them. When using two-factor authentication, you will first enter a password. You then will receive a code via email or SMS to enter to get into your account. 

Avoid Public or Open Wi-Fi Networks 

I know we all have times where we are reliant on a good internet connection but try as much as possible to not connect to public or open Wi-Fi networks. Public and open networks bring many threats to your device as they are visible to anyone on that network.

If you absolutely need internet, utilize your data plan, or install a VPN to keep your phone secure and hidden from open networks. This is a reminder if your home internet or hotspot isn’t password-protected, do it now! 

Update Your Applications and Device

It is very important to frequently update your applications and device software. If you get a notification something needs an update, do it as soon as you possibly can. When you install an application, read through the user permissions to know what it needs access to. Only give permissions when you are running the app, not at all times. If there is an app you are not using, be sure to shut off those permissions or delete the app altogether. If you don’t intend to use the app for video or photo use but it asks for it, it may not be the best app to install. 

Our lives are very much on our mobile devices, so it is important we have good practices in place to combat cyber threats. Incorporate these tips or use them as a checklist to ensure your device and your data are secure.