3 Myths About Credit Cards You Shouldn’t Believe

July 10, 2024 by First Federal Bank

Chances are you have received conflicting advice about credit cards. Are they good or are they bad? It can be confusing to know when and how to use one properly. Or to understand how their use can impact your credit score. The Motley Fool wants to dispel some common myths you may have been told:

Topics: Financial Education

Why You Should Consider Opening a Brokerage Account for Your Child

July 08, 2024 by First Federal Bank

Typically, when we think of investing, it is considered something you do as an adult. It is widely considered one of the best ways to save money. But have you ever considered opening a brokerage account for your child? There are many reasons you should. If you want to help them save for their own future, Time magazine outlines how to open a...

Topics: Financial Education, Family

How to Protect Yourself and Your Loved Ones from Elderly Fraud

July 03, 2024 by First Federal Bank

There are many different types of fraud today. Perhaps one of the most heinous are scams that target the elderly. One news station recently reported how this type of fraud is on the rise, and what you can do to protect yourself and your loved ones from becoming victims:

Topics: Financial Education

Tips for Meeting Your Savings Goals

June 26, 2024 by First Federal Bank

Working to save money can be a drag. It takes discipline, effort, and planning. And to be honest, it isn’t very fun. Sure, the results can feel great. But as you work to meet your savings goals, it is common to suffer from, “frugal fatigue.” You know it is important to save, but why does it have to be so hard? MSN has tips for staying on track...

Topics: Personal Banking, Financial Education

Can You Save on Your Tax Bill with the Purchase of an EV?

June 24, 2024 by First Federal Bank

Sales of electric vehicles continue to rise in 2024. There are many reasons to consider buying one. Did you know you could save on your taxes if you do so? In May, the Internal Revenue Service (IRS) released its final rules for the federal tax credit program. Electrek.com helps break down what it could mean for your pocketbook:

Topics: Financial Education

Yes, You Should Continuing Investing After You Retire

June 19, 2024 by First Federal Bank

When we think about investing, the focus is normally on saving money for retirement. Many consider it to be too risky once you have reached that milestone, and instead plan to hold on to their money and draw from their accounts as needed. Rob Berger of Forbes magazine explains why it is important, and beneficial, to continue investing after you...

Topics: Retirement, Financial Education

Best Ways to Save on Summer Travel

June 12, 2024 by First Federal Bank

While people vacation year round, summer is by far the most popular time for most. The weather is warmer, your schedule is more open. But can you afford to take that trip? You can save for your next vacation with these tips from MSN.com:

Topics: Financial Education

First Federal Bank: Empowering the Next Generation with Money Management Skills

June 06, 2024 by First Federal Bank

Through partnerships with local schools, First Federal Bank is dedicated to equipping students with the knowledge and skills necessary to make informed financial decisions. By accessing tools from Banzai, a premium online financial literacy program, First Federal and educators are teaching students better financial habits for free.

Topics: First Federal News, Financial Education

Avoid Making These Credit Card Mistakes When Traveling

June 05, 2024 by First Federal Bank

When preparing for a trip, you probably have a list of things to do: prepare any needed documentation, purchase supplies, pack, set an itinerary. But have you thought about your credit cards? According to The Motley Fool, failure to do so could cost you on your next trip. Be sure to follow these tips so you don’t run into any credit issues while...

Topics: Financial Education

Help Your Child Get Started on the Path to Financial Success

June 03, 2024 by First Federal Bank

Strong financial skills are learned. Which is why as parents, it is essential to begin teaching your children about money from an early age. It doesn’t have to be complicated, or boring. According to Engineering Your Finances, you can get creative and make learning about savings money fun with these tips:

Topics: Personal Banking, Financial Education, Family

Leave us a comment and join the conversation.