Choosing the Right Health Savings Account

October 11, 2021 by Chrissy Cribbs

A Health Savings Account (HSA) offers a wealth of benefits. It can help you save on taxes, aid in bolstering your retirement fund, and earn tax-free interest on your savings. Forbes contributor John Goodman claims no other savings vehicle can top an HSA. However, specific HSAs are tailored to meet distinct needs. In order to maximize your...

Topics: Financial Education, Insurance

Managing Your Credit Score

October 08, 2021 by First Federal Bank

Since your credit score is an indicator of your financial standing, it plays a large role in determining your eligibility for loans and favorable interest rates. If you’d like the opportunities that come with a higher credit score, here are some of the best practices for managing your money to boosting your score:

Topics: Financial Education, Credit Cards

How to Have Fun on a Budget

September 27, 2021 by First Federal Bank

Living on a tight budget doesn’t mean you can’t afford to have fun. Even as you save money, it’s important to treat yourself and enjoy life. Here are some of the top budget-friendly activities to keep you entertained:

Topics: Financial Education, Budgeting

What is the Four Percent Rule?

September 17, 2021 by First Federal Bank

If you are on the edge of retirement or a current retiree, you may be familiar with the phrase, the Four Percent Rule. The concept is used to help retirees manage your finances in your golden years.

Topics: Retirement, Investing, Financial Education

Health Savings Account 101

September 08, 2021 by First Federal Bank

Medical expenses can extend way beyond the bill you receive from your doctor’s office. If you have a high-deductible health plan, you may be privy to a health savings account (HSA). With an HSA, you can deposit tax-free funds earmarked for paying off a range of medical costs including copayments and deductibles. Here is a closer look at the...

Topics: Financial Education, Healthy Living, Insurance

Emergency Fund Basics

August 27, 2021 by First Federal Bank

The COVID-19 pandemic and its economic downturn might have exposed how fragile your finances are. As the economy begins to recover, it’s a good time to consider building an emergency fund to help protect you in the future. Consider this information as you start to put money away:

Topics: Saving Money, Financial Education, COVID-19

Online Check Deposit Basics

August 11, 2021 by First Federal Bank

Finding time to visit your financial institution during business hours to deposit a paper check isn’t always easy. Fortunately, you might have access to a 24-hour online check deposit option. If you have a smart device with a camera and a Wi-Fi or mobile data connection, this is a fast, convenient, and secure way to deposit funds into your...

Topics: Personal Banking, Financial Education

Teaching Your Kids the Basics of Finances

July 26, 2021 by First Federal Bank

Learning how to handle, where to invest, and what not to do with money are skills everyone needs to be successful in life. The earlier kids are introduced to smart money-management practices, the better prepared they’ll be to handle their finances when they leave the nest. Teaching your kids how to protect their money is a lesson with unlimited...

Topics: Saving Money, Financial Education, Kids

When to Hire a Financial Planner

July 05, 2021 by First Federal Bank

No matter where you are in life, handling your personal finances can be a complicated and overwhelming task. One way to get the advice and assistance you need is to consult with a financial planner. These professionals are trained and certified to give you expert advice on how to make the most of your money. If you’re not sure whether seeking...

Topics: Personal Banking, Saving Money, Financial Education

Writing Your First Will: What You Should Know

June 30, 2021 by First Federal Bank

Writing a will may seem simple — just say who should get your property when you die — but there are several less obvious elements to it that are just as important. Though you may not be inclined to think about your mortality, taking the time to prepare a well-written will is key to ensuring the transition is as smooth as possible for your loved...

Topics: Retirement, Financial Education, Family

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