Personal Finances

Raising your credit score can seem like a daunting task, or you may not really care what your score is. However, a credit score affects more than you may realize, which is why we find it important to share our knowledge. Develop consistently strong credit habits with these secret keys of advice from Exchange Bank of Northeast Missouri. 1. Show you can handle all types of debt. Debt comes in all different forms, from car loans and mortgages to credit card bills. Instead of paying for an Read More

Buying a home may be a common practice for the average American, but it is not a simple one. This is especially true if you are new to the game and have yet to learn the ins and outs of the process. No need to worry, we have plenty of experience from our years in the home buying business and are willing to share the best-kept secrets on the market! 1. Start Today If buying a new home seems far into your future, that means you are in the perfect position to prepare. Often, many have dreams of Read More

As you begin to write your to-do list of cleaning your home this spring, it’s time to add another section to your list: finances. You wouldn’t believe how helpful it is to do a deep cleaning of your finances every spring. It can contribute to increased feelings of determination and confidence in all areas of your life. Here are the 4 best cleaning moves to add to your list! Review Your Debt Unfortunately, too many people try to turn away from realizing their total amount of debt. Read More

A dream is just a dream until a plan is created and executed. It’s time to take a step back, think about what you want for your life, and begin building that future today. How to Set You are probably familiar with the concept of goal setting in your everyday life. Often, they take on the form of dreams, like someday having a vacation home in Hawaii or being able to complete a half marathon. It’s fantastic that you have these dreams and dare to imagine bold things for your life. However, Read More

If you’ve crafted a budget for your household, you are already off to a great start to taking control of your finances in the most useful way possible! There are two things that can hinder a budget and your overall financial goals. They are first, not sticking to the budget and second, missing essential budget limits. Be sure to include these items in your budget now! 1. Medical Bills Your health is never guaranteed. Because of this, it can be challenging to plan for the unexpected. However, Read More

It’s finally house hunting season and you could not be more excited to get the ball rolling on your big purchase! Before you hit the road or the search bar, take these 7 tips into consideration. 1. Know Your Limits Before signing the papers or falling in love with the first home you see be realistic about what is in your budget. We recommend spending no more than 25 percent of your monthly income on the mortgage. When you know what this number is, be sure to stick with homes in that price Read More

You’ve made the decision that you are tired of renting and ready to step into the world of home ownership. Good for you! You may be wondering what your next steps should be in order to be financially prepared for this major investment. Here are some creative ways to ramp up your savings for this exciting adventure! 1. Consider a Move Now Is the place you’re living now truly the most cost effective for your budget? Consider moving to a temporary location that can significantly trim Read More

Congratulations, after your roaring twenties, you have made it to the thriving thirties. Unfortunately, with another candle added to the cake comes another responsibility. People in their thirties have a very high amount of expenses from a house payment to the cost of little ones, which is why we wanted to offer the following solutions to saving. Automate Savings You have hopefully already begun a savings account for the other financial goals in your life. If not, no worries! You’ve likely Read More

Are you about to begin the hunt for your future home? We understand that the home buying process can become overwhelming, which is why we’d like to offer you a little insight. Start your home buying journey off right by completing this checklist! Strengthen your credit. A 620 FICO score means you can get a mortgage, but that doesn’t mean you’ll want to. According to recent data from myFICO.com, someone with the minimum credit score can expect to pay over $82,000 more 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