First Federal Bank Blog

When filing your income taxes, you have the option to take the standard deduction or to itemize your deductions. Itemizing allows you to claim specific expenses individually, potentially leading to a higher tax refund or lower tax liability. So while itemizing can be more time-consuming than taking the standard deduction, it can be financially...

A life insurance policy is critical for protecting your loved ones after your death, but you can also leverage it while you’re alive. That’s because policies offer two distinct benefits: cash value and death benefit. Understanding the differences between the two can help you pick the best policy and take better advantage of it.What is cash value?

Preparing your taxes is easier when you have everything you need at your fingertips or accessible on your computer. Searching for receipts, records, or required documents will quickly erode your resolve and temperament when you’re trying to work through your taxes. Here are a few tips to help you organize your tax documents so you can make the...

Student loans can be a heavy financial burden. However, there are a few simple tips to help you chip away at your debt faster. Here’s a look at a few strategies to help you set yourself on a quicker path toward financial freedom:Go above the minimum paymentMaking a bigger monthly payment may require sacrificing some of your disposable income, but...

All investing exposes you to a certain level of risk. Committing all your money to a narrow range of stocks, bonds, or other assets is especially perilous, exposing your portfolio to the market’s volatility and making it less resilient — and potentially hampering growth as well. However, diversification is a good way to keep one poor-performing...

Shopping for a car at a dealership can be an overwhelming experience. Even if you do a ton of research before you shop and have an idea of what vehicle you want, you still need to ask questions at the dealership. Here are a few essential queries to ask before you purchase a car:Check on maintenance plansNew cars should be trouble free for some...

An individual retirement account (IRA) can be a powerful tool for investing and saving your money — especially when you manage it wisely. If you’re looking for ways to make the most of your IRA, start by reviewing these commonly asked questions.What investments can I make with an IRA?You can choose from a wide range of IRA investment options to...

Your tax return contains a plethora of private, personal, and important data. In the wrong hands, your details can be used as a tool in identity theft, fraud, and other nefarious activities that can hurt you, your reputation, and your financial standing. Be sure to protect your information when you file your tax return with these security tips:...

Whether you have your eye on a new or used car, its price is probably much higher than it would have been a half-decade ago. Vehicle prices have soared in recent years and don’t appear to be settling back down anytime soon. This is making it harder for shoppers on low or even moderate incomes to afford the transportation they need.What can you do...

Payment apps like Google Pay, Cash App, and Zelle have become the preferred method of sending and receiving money for many people. Yet, you may be hesitant to jump on the bandwagon due to concerns about the security of using a payment app — and you’re not alone.Many people who are accustomed to using cash, credit cards, and checks are skeptical...