Monthly Archives: September 2020

5 Steps Towards Tackling Your Student Loans

Whether you’re a current college student or have graduated and are ready to get rid of your debt, there’s no better time than now to start paying off your loans. It’s not an easy job, but the feeling and relief of being debt-free is unlike any other. Keep reading to learn the five steps to take towards getting rid of your student loans.

1. Pay more than the minimum

No matter how small the amount of added money each month is, paying more than the minimum is one of the best ways to drastically reduce your debt faster. Even if the most you can afford to stack on is $15, it will add up and you’ll be glad you did it.

2. Create a debt payment plan

Making a plan will not only help you stay on track, but it will make you feel better and more motivated to reach your goals. Map out how much you make each month, what expenses you have, how much you have to pay off in student loans and make a plan with a timeline.

3. Set up a tight budget

Living the cheap college life doesn’t always get to end once you graduate. The tighter your budget is, the faster you can tackle those student loans. Analyze your current budget and make adjustments, remembering that student loans are temporary and this is a short-term budget.

4. Pick up a side gig

Maybe you have free time on weekends, allowing you to pick up a serving job at a restaurant. If you don’t have that time, it could be as simple as selling your used clothes or making a business out of your hobby. Whatever your side gig ends up being, be sure to put the money you make directly towards your student loans to pay them off faster.

5. Make automatic payments

One of the best ways to make sure you’re paying enough every month is to set up autopay. Not only does having the money taken directly out of your account each month hold you accountable for paying, but it also allows you to just work and not worry about how much to pay and when to pay it.

This time period of being in debt is just temporary – if you start paying now and work hard, you can get rid of debt sooner than you expect. We hope you give these tips a try and that they will help you tackle your student loans quickly so you can live a loan-free life!

How to Start Building Your Emergency Fund

Not only does having an emergency fund give you peace of mind, but it can help you avoid the stress of being in debt. The best time to start building your emergency fund is now! If you’ve heard all about the importance of having this fund but aren’t sure how to get started, keep reading.

Set a Goal

The first step to building your emergency fund is figuring out how much you want to save. There are emergency savings calculators online that can help you figure out a smart amount to aim for. This amount will vary depending on many factors like how many people you’re providing for, what you pay for monthly, if you’re paying off debt, etc.

Break Down Your Goal

Many times your total emergency fund goal can be a large and intimidating number. Breaking the total down into monthly goals is a great way to ease the pressure while still accomplishing your goal on time.

Set Up an Automatic Transfer

The easiest way to make sure your monthly goals are being met is to have a designated amount transfer to your savings account. Your bank can set this up so you don’t have to worry about setting aside money since it does it automatically. Having an automatic transfer set up will make it feel like you’re not losing any money.

Save the Change

You might not think keeping your change for your emergency fund would make a big difference, but it sure adds up. Start keeping the $1 and $5 bills you get back when making purchases and putting them in a jar to add to your emergency fund.

Make Adjustments

As time goes on and your emergency fund grows, you might need to make some adjustments to how much you save every month or your goal amount. These things may need to change over time as your financial situation changes, so don’t be afraid to make proper adjustments.

Having an emergency fund can be a life-saver when issues you weren’t expecting come up. Give yourself some peace of mind by starting to build your fund today. Contact Heartland Bank with any questions you have or if you’d like to learn more about our services.

Online Safety Tips for Remote Workers

Whether you’ve been working from home for a while or just recently started, getting a refresher on staying safe online is always a good idea. Working remotely comes with being at risk for a cyber-attack, which can be dangerous for your private work data. Read these online security tips to ensure you’re doing what you can to keep cybercriminals away.

Keep Your Work Covered

It’s always nice to change up the scenery and visit a park or coffee shop to get some work done. Working in public does come with its concerns, so make sure you’re playing it safe. Don’t let those around you peek at your screen or see what work you’re doing. You never know what strangers are up to and it’s better to be safe than sorry. Cybercriminals can be anywhere!

Always Use Strong Passwords

Not only should your accounts be protected with a strong password, but your devices should be, too. Make sure your laptop, phone and other devices are locked with a secure password. Remember not to use the same password across multiple accounts – if one password is compromised, then all of your accounts could be taken over. A great tool for this is a password manager, which will create and remember strong and secure passwords for you.

Set Up Two-Factor Authentication

Along with having a strong password comes the importance of two-factor authentication. This will add an additional step to your login process to make sure your account is protected and not being hacked. Some common ways this works is through an email/text confirmation or fingerprint scan. Two-factor authentication ensures that, even if your password is compromised, you still have a backup plan in action.

Beware of Public Wi-Fi

Using public Wi-Fi is the prime way that cybercriminals are able to access your data. They’re using the same network as you, making it much easier for them to hack your device or accounts. If you’re doing work in a public place, use a personal hotspot or a VPN to encrypt your internet traffic, which would make it unreadable to others.

We hope these tips were good reminders for those of you who work remotely. Cybersecurity is becoming more and more important as technology advances, so be sure to share this information with coworkers, family, friends and others you know who are working from home!