Financial Education

With your babies growing up, it’s never too soon to start teaching them the art of being fiscally responsible - but where do you start? According to the Council for Economic Education, only 17 U.S. states require high school students to take a personal finance class to graduate. Exchange Bank of Northeast Missouri offers some great ideas on how you can begin teaching your child about financial literacy before they leave the nest. How does credit work? A lot of kids don’t know what Read More

Warm, sunny weather calls for a glass of ice cold lemonade. Now that the kids are out of school and looking for activities to entertain them, it is the perfect chance to teach them a little about finances. Here are a few quick tips to help teach your children how to be fiscally responsible. Have them buy the materials. When deciding to have a lemonade stand, it is important that your children know the value of money. By having them calculate the cost of the lemonade, sugar, cups, sign, sunscreen Read More

As a parent, you want to do your best to give your children a great childhood and prepare them to be successful, contributing members of society. One of the ways that many parents are doing this is by encouraging youth sports. They realize that there are great lessons learned from athletics, like how to be a part of a team and physical health. It’s also a good way to get kids away from the screens! By the same token, you may not realize that sports, particularly pay to play, have additional Read More

What they didn’t teach you in school was how to pay for school. Many know what it’s like to look excitably into your direct deposit account or open that envelope on payday to only be dissatisfied by the large withdrawal that was taken towards your student loan debt.   Confronting what seems like the impregnable wall of debt can be overwhelming. And many can feel unprepared - even duped at the debt to income ratio their college degree has given them. However, it doesn’t Read More

Starting a Financial Fitness routine may be one of the best things you can do for your health. You may not realize it, but financial stress can take a toll on your physical and emotional well-being. If you are one of those who have or are experiencing financial stress, you are not alone. In fact, the leading stressor of Americans is related to finances. Stress, if left unchecked, can lead to changes in your body and mood such as:  heart disease, obesity, headaches and depression. Whether you Read More

Today, practicing the simple credit concept of “living within your means” can be extremely difficult due to medical and housing costs growing more rapidly than income in many American households. However, this doesn’t mean you can’t manage your credit and debt responsibly.  Here are a few tips to help you get your credit on track, even when times are tough.   1. Understand what credit is.  According to Finance Solutions Credit 101, credit is your “promise Read More

When winter hits, that means that the holidays are approaching. During these special occasions, kids are exposed to a different setting where they get gifts, large meals, cards, and more. That’s why Exchange Bank of Northeast Missouri believes that this time of the year is a great opportunity to teach your children about money. Below are a few ideas on how to incorporate your children into the holiday financial mix! Identify the costs of the holiday season. Gifts are a big cost, Read More

There are literally thousands of how-to’s and self-help books for parents, but truly the only real way to learn how to raise a child is to do it! Luckily our growing team of parents at Exchange Bank of Northeast Missouri have some true hands-on experience when it comes to upbringing and explaining money management to little ones. One of the most common fiscal questions parents have concerning their child’s financial education is, “How do I teach them about money using an allowance?” Read More

Sometimes the best intentions can lend themselves to producing the worst results. While many friends and family members may offer quick solutions to your financial anguish, often times the best education is understanding those lessons first hand. At Exchange Bank of Northeast Missouri, we’d like to showcase several of the most common pieces of money advice we hear, and what you can do to remedy these particular miscommunications.   Bad Advice #1: You have to go to college to get Read More

Minimizing your debt can always seem like a mountain of to-do lists. With various recurring payments, differing interest rates, and due dates that never seem to end, if you feel overwhelmed, you’re not alone.   While having credit card or other outstanding debt isn’t a situation anyone wants to find themselves in, a surprising 38.1% of American households carry credit card debt.  Couple that with a total household debt average of $134,643.00 and the idea of debt starts Read More