Saving for Retirement: How Much Is Enough?

Over the years, we put away money for important events such as a baby, college tuition, a new car or house. Those tangible items make it worth the amount we set aside. However, retirement is a harder concept to grasp, as it is far off into the future. For this reason, we wanted to help shed some light on how much is actually enough when saving for retirement. How much do I save at my age? Trying to figure out how much to save at any age can be tough, especially when saving for other items.
Read More

Staying on top of your finances can prove challenging, especially when bills, debt, daily expenses and saving come into play. Finding your way to financial freedom takes time which is why Exchange Bank of Northeast Missouri has compiled a few steps you can take to improve your finances. Coupon Like Crazy Some people always pay full price for items. Nowadays, there should be no reason to empty your wallet to that extreme. You can go old school and buy extra newspapers when the coupons are good.
Read More

An IRA is an individual retirement account that is used as a tool for people to earn and earmark funds for retirement savings.  Retirement may seem far away, but the earlier you start to save, the better off you’ll be! You have flexibility when choosing investments and minimizing taxes, which means an IRA can play a huge role in how prepared you are for retirement.  With that said, many people don’t fully understand how IRAs work. They can be confusing. As a result,
Read More

We all know this one - use different passwords and switch them up periodically. While this is a helpful tip to avoid being hacked, there are some questions you may still have on cybersecurity. Luckily, Exchange Bank of Northeast Missouri offers a few answers to your existing questions. Question: How can I protect my personal information from an attack? Answer: Be sure that your antivirus program is up-to-date. When it is time to renew that software, do it. Don’t wait around thinking it
Read More

Shopping for the holiday season can get pretty expensive - especially with gifts for the whole family and hosting traditional holiday parties. Luckily, this holiday season we are offering you 5 top-notch money saving hacks so you save more than you spend! Be a Thrift Store Champ - When you shop at thrift stores, you can find inexpensive gifts and decorations for this holiday season. This is the perfect spot to find your ugly Christmas sweater and a wonderful resource for one-of-a-kind gifts.
Read More

We’ve all heard the tips about not eating out, cutting cable and canceling that gym membership you never use. However, that leaves us wondering what other crafty ways can we think of to save? Exchange Bank of Northeast Missouri offers a few creative ideas on how you can keep money in your wallet while on a budget. Switch Up Beauty Brands Small expenses can add up in a hurry. Luckily, there are simple fixes for that problem. Try switching from your beloved expensive shampoo to a more generic
Read More

The first step in protecting yourself from identity theft is understanding what identity theft actually is. It’s defined as “the illegal use of someone else’s personal information usually in order to obtain money or credit.”   Do you have a credit card?  In a study by Experian, 81% of people said they rely on their banks and credit card companies to protect them from fraud. We don’t want you to fall in that 81%, so we suggest these 4 ways you can protect
Read More

Finding different ways to save can be tough, however, we want to encourage you to stay on track and jumpstart your finances. With these fun money challenges, you can push yourself to become the savvy saver we know you can be! 1.   52 Week Face Off Instead of changing your spending habits overnight, try this challenge. Over the course of the year, you’ll end up with a grand slam total of $1,378. Start by putting one dollar in a jar the Monday of week number one. Increase it by
Read More

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 child 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
Read More

Exciting adventures wait for you while away at college. However, your spending habits may put a damper on the fun. Don’t become one of those students who falls into a deep hole of debt. Stay afloat with some of these simple tips you can implement today! Avoid Late Fees Late fees sneak up and build in a hurry. Be sure to utilize apps that will remind you when bills are due and cancel anything unnecessary such as cable or gym memberships. Limit Eating Out Going out with friends every
Read More