Tag Archives: Finances

Ways You Can Teach Your Kindergartner About Finances

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Finding ways to make money fun can be difficult when working with your little one. However, starting money management off right when they’re small is a must! Use these tips and tricks to teach your kid to be a successful money master.

Utilize Clear Jars

Use a clear jar to allow your child to see their money grow. Just talking about how their dollar from yesterday is two dollars today doesn’t click for them. Let them put money into a place where they can continuously see it grow larger and it will maintain their interest in the saving lesson. Show excitement when they add to it because if mommy or daddy is enthusiastic, they will be too!

Start an Allowance

Help your child learn that time is money. Unloading the dishwasher could be worth a dollar while folding all the laundry could be worth two. If one job takes longer than the other, show that with the amount they obtain. Increasing the amount as they age can also show them how you grow with the jobs you get because of your new level of education. Help them see that money is earned, not just given.

Make It Visual

Your youngster will not understand the concept of saving by simply discussing it. Their short attention span calls for some innovation. Make a chart for chores to help them stay on task by coloring in a square next to the chore when it is complete. Different colors can help classify the item as more money or higher importance.

Teach Them to Give

Generosity is also an important lesson to teach at an early age. Have your child pick a cause they are excited about – pet shelters, for example, are a great choice! Your child can see where and what their money is going to. Helping others is a great quality to establish for the future. If they don’t know where to donate to, give them options such as the donation plate at church or a local food shelter. You can also find a place to volunteer their time if money isn’t an option.

Introduce a Side Job

If your kid wants a LEGO set, and they want it now, show them additional chores to do as a side job. Giving them extra ways they can make money here and there can teach them to have a high work ethic. Sometimes you need to work a little more to get the money you need. Setting up a “For Hire” board can help your kindergartner pick up some extra cash by sorting dirty laundry, emptying trash cans or picking up their toys before mom or dad mows the lawn.

These ideas will help aid you in teaching your kids that money doesn’t grow on trees. If you’re looking for other financial lessons and ways your child can learn about saving, stop on in. We’d love to set up a savings account for your youngster!

The DO’s and DON’TS of Using Credit Cards

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Using a credit card is a great stepping stone to help boost your personal credit history. By proactively managing your ongoing finances, you can showcase to potential lenders that you know how to fulfill your repayment promises. What many people don’t know, is that simply having a credit card does not automatically indicate an increase in your credit score. To help you succeed with your credit, First Security State Bank has put together our most commonly asked do’s and don’ts when using credit cards.

DO: Pay your balance in FULL every month or every two weeks.

DON’T: Keep a balance even if the interest rate is low

While keeping a balance less than 30 percent won’t drastically harm your credit score, it’s always better to be safe than sorry. We recommend never spending more than you can pay off each and every month. By keeping yourself to this standard you can make certain to never become a victim of expensive credit card debt.

DO: Choose a card that will compliment your lifestyle.

DON’T: Pick your credit card based on mail or TV offers.

There are countless websites and apps centered on helping you find the ideal credit card. Instead of signing up for a credit card through the mail, start perusing sites like NerdWallet to discover which card fits not only your spending but your rewards preferences too! Before you start applying, remember to only apply for a credit card if you need one. If you plan on using more than one, wait six months or more before applying for a new line of credit. This will help to keep your credit score on track and assist in preventing any unwanted dips.

DO: Use reward points to save money.

DON’T: Spend more just to get additional points.

While some credit card options certainly do offer some great sign-on rewards, remember that added debt and expenses are never worth the hike in points. The money you manage is yours, and it’s real! While the points are truly a great perk, never let them outweigh the tangible money you currently have in your individual accounts. If you allow this to happen you may find yourself with a mountain of debt, equivalent to half the vacation you can no longer afford to take.

DO: Have more than one card when you can pay them all off on time.

DON’T: Cancel a credit card without researching its history.

There are certain cards that boast the best rewards when utilized for specific industries, and others that can add extra perks for those all-encompassing purchases. To make the most of these various benefits, we recommend using multiple credit cards for your household’s purchases, only once you’ve maintained a zero balance on one for more than six months. If you feel confident in managing multiple credit cards, you’ll find great advantages of using the rewards behind the various programs and their associated bonus structures.  However, if you close a card, always check and see if that card hold your longest history of a credit line. Should that be the case, you may not want to cancel it, as it could create a slight dip in your credit score.

How to Make Peace with Your Income

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You work hard for your money! Learn to appreciate every penny earned.


“Gratitude turns what we have into enough.” A positive mindset can influence every area of your life. You are likely to enjoy your work and day to day activities when you are thinking positive thoughts. Every morning is an opportunity for you to start fresh and do your best. However, some areas in life are difficult to be optimistic about. Finances can be one of the biggest stressors of life. It is difficult to have a positive outlook when you worry about payments and supporting a family. We understand life has countless financial demands, which is why we offer personal and business banking services to assist you.
Here we would like to draw your attention to 4 ways to better appreciate your income.

  1. Start with understanding the value of the hard work you do. Not everyone can do what you do or has the gifts you hold. First Security State Bank hopes you recognize your work as valuable to the world around you.
  2. Understand that the average yearly income in the world is $10,000. Recognize the many things you have that most people with never experience.
  3. If you find it difficult to make ends meet, there are several saving habits you can start. Clip coupons, shop in season, drive less, and find free entertainment. Being a smart spender can save you money and reduce stress.
  4. An effective way to save is to create a budget to track where your money is going. Organize your finances to see if you are spending too much in an unnecessary area.
  5. To gain a new skill and save money simultaneously, collect recipes to try at home as an alternative to eating out. Pinterest is a website that offers creative meal ideas your family is sure to love.

We hope you learn to appreciate your income and never take for granted what you have. First Security State Bank is here to assist you with your financial questions and concerns. Feel free to stop in or give us a call today!