Save Money

Is your current car on the fritz or have you been eyeing that shiny new Jeep you see parked at a dealership on your way to work? If you’ve been hesitant to buy a new vehicle because you’re worried about it costing too much, here are some ways you can get the car you’ve had your eye on while still saving money. Get Pre-Approved Before starting your search, you should get pre-approved for a loan. It’s important to know what limit you qualify for and match that up with Read More

Making your way through the drive through every morning before 7:30 may give you a refreshing start to your day, but at what cost? The ideology that coffee shops and other retailers capitalize on is the notion that these small expenditures add a little excitement to your day without a hefty bill. However, when you enjoy perks like these on a daily basis, they add up, and quick!   Financial author, David Bach, is the mastermind behind the Latte Factor. This helpful calculator enables shoppers Read More

Retirement is one of those unique financial goals where you can benefit by saving less earlier, compared to saving more at a later date. By maximizing on the most valuable element, time, you can ensure that even a little savings will go a long way. To help illustrate the capabilities of time, and the interest it compounds, Exchange Bank of Northeast Missouri would like to share a simple story:   We start with two people, Jane and John. Jane starts saving for retirement at 25, contributing Read More

Managing your money is a great skill to learn at any age. We agree with financial guru, Dave Ramsey, who famously said, “Personal finance is only 20% head knowledge. It’s 80% behavior!” While creating a budget is a great first step, the next way to better manage your finances is to decrease surplus spending in order to save more for future plans such as retirement, vacation, or education. At Exchange Bank of Northeast Missouri we recommend examining the following expenses to see Read More

One of the most proactive ways you can protect your personal finances is to take advantage of tax beneficial accounts such as a 401(k) and/or an IRA. Though these accounts are typically tied to retirement savings, this is not always the case. At Exchange Bank of Northeast Missouri we want to help you make the most of your money by offering these two account options:   Work Sponsored Retirement Account (401k): Many companies now offer this account as a corporate benefit. By automatically Read More

This year, make the leap into financial success with a savings plan you can be proud of. Using a variety of budget-friendly strategies, Exchange Bank of Northeast Missouri will show you how you can save $1,000 or more a month towards your next fiscal goal. Here’s how to get started:   Use a Budget ($150/month) - One of the most important ways to save is to track your spending. We recommend creating a monthly budget, while also using apps like Intuit’s Mint, to accurately see Read More

If the sound of savings makes your ears perk up, Exchange Bank of Northeast Missouri has the perfect New Year’s resolution for you! As a homeowner, you have a unique opportunity to lessen your debt while also building home equity.   As of October 2016, the median price for an existing home in the United States was $232,000. This being said, a potential monthly mortgage payment for this home value could be approximately $873.51 for the average new home owner. While homeownership is Read More