Author Archives: Heartland Banks Blogger

How to Protect Your Social Media Accounts

Social media is growing and expanding each day, with nearly 3 billion people on Facebook and over 2 billion on YouTube. Platforms like these along with Instagram, Twitter, Snapchat and more require usernames and passwords, but there’s always the unfortunate chance that your account is compromised. We’re here to provide you with a few simple things you can do to protect your social media accounts.

Two-Factor Authentication

Adding an extra step to your login process is always a good way to protect your account from being hacked. Examples of two-factor authentication include having to enter a code sent to your phone, scanning your fingerprint or using face ID in order to confirm your identity. Most social media platforms offer this as an option in settings.

Try Out a Password Manager

Not only is it important to have a strong password, but you should also vary your passwords across your social media accounts. If you use the same password for every account and one gets hacked, then they’re all compromised. Be sure to include numbers, upper and lowercase letters and special characters to make each password unique. It’s also smart to update your passwords periodically. Keeping track of all of them may seem tricky, but an online password manager will take care of that for you.

Double-Check Your Friends

Now’s a good time to go through your Facebook friends and make sure you know them all. If you get a friend request but you don’t know the person who sent it, just decline it and stick to the people you’re familiar with. One common way hackers access your information easier is by making fake accounts and sending you a request so they can see more of your personal information.

Don’t Overshare

Even if all of your friends or followers are people you know, you still want to be careful what you’re sharing online. Don’t share personal information like your address, social security number, financial information or other things you wouldn’t want people knowing. Think of everything you share online as permanent for anyone to access, whether it’s shared in a private group or not.

See What’s Provided in Your Profile

To go along with the previous point, there are some things your friends can see without harm. For example, having your hometown in your private profile usually does no harm since the people you know most likely already know this information about you. The important part is to make sure those things are private and only accessible to your friends rather than on your public profile.

With new and exciting technology comes the necessity to keep your information secure, private and protected. Following the above tips and guarding your social media accounts will help you avoid hackers who can compromise your personal information. Contact us for more cybersecurity information or to learn about the financial services we offer!

Money Management: Self-Employment Edition

With the flexibility and freedom of self-employment comes the tricky challenge of managing your finances properly. Whether you’re new to the freelancing field or already know your way around the ropes, a quick money refresher is always a good idea. Below are our top money management tips for the self-employed.

Have a Plan

Budgeting is just as important in your freelance business as it is in your personal life. This may be tricky with the inconsistencies in your income, but calculating an average monthly income and budgeting off of that is helpful. Knowing how to budget will become easier the longer you are self-employed as it’s often easiest to learn from experience.

Keep Records Organized

Not only is it important for you to keep records of past paperwork, such as billing and sales history, but you should keep everything as orderly as possible. This will help you feel organized, plus when a previous customer has a question, you can easily refer back to their purchase. Keeping copies of receipts is also important for tax time.

Set Goals for Yourself

Being your own boss means not always having someone watching your progress and analyzing your work like most 9-5 jobs. In order for your business to grow financially, you need to set some short-term and long-term goals for yourself. Whether that’s selling a certain amount of your product or service, expanding on your product or service line or simply reaching more customers, create a SMART goal and do what you can to achieve it.

Build on Your Emergency Fund

Self-employment often means a varying monthly income. Because of this, having a solid emergency fund is crucial so you have a backup if things go south for a few months. Financial experts usually recommend having three to six months’ worth of living expenses saved up. Continue adding to your emergency fund each month for added peace of mind!

Keep Personal and Business Finances Separate

One of the keys to managing your money properly while being self-employed is having a separate business account. This will also help you keep a more detailed record of your finances for tax return purposes.

Ask for Help

The final, but one of the most important tips, is to accept help from others. One of the best ways to understand the ins and outs of self-employment is to reach out to an experienced individual in your shoes. If financial troubles progress, don’t hesitate to talk to a professional to see what your next steps should be.

Self-employment, while it may pose its challenges, is ultimately a rewarding path to pursue for many. Having a financial plan and sticking to it is the key! We’re here to help you with all things finance, so if you have any questions feel free to contact us – we’re happy to help.

New Year, New Financial Goals

Whether your goal this year is to save up for a big purchase or have a pile of debt to work on, make 2021 the year you focus on your funds. Below are some ideas of financial goals you can set.

Short-Term Goals

When you set a short-term goal, you normally aim to accomplish it within 1-12 months. The following examples are goals you should aim to attain by next New Year’s Eve:

Build an emergency fund
Save for next year’s Christmas gifts
Create a new budget
Pick three bills to cut down on (cable, cell phone, etc.)

Mid-Term Goals

Mid-term financial goals can range in the time period in which you accomplish them, but typically they take about five years to achieve.

Save for a down payment
Build on your emergency fund
Pay off credit card debt
Save up for a vacation
Improving your credit score
Increasing your income

Long-Term Goals

Setting a long-term goal usually means you plan on accomplishing it within 5-10 years. How many years you decide to give yourself depends on how much debt you have, how many kids you plan on having and other factors unique to your situation. However long it may take you, here are some examples of long-term financial goals:

Save up for retirement
Start your own business
Pay off your student loan debt
Save for your child’s college, wedding, etc.
Becoming debt-free
Pay off your mortgage
Establish financial security

Now that you have some ideas, pick your favorite short-term, mid-term and long-term goals to accomplish and make it happen! After a long and unexpected 2020, let’s make 2021 the best financial year yet. Contact us to learn how we can help you take hold of your finances this year.

5 Cybersecurity Basics You Need to Know

With so many people being online now, it’s even more important to be safe with what you do and add an extra layer of security to your actions. Any time you are on your phone, tablet or computer, there is a chance you could be targeted. Protect yourself and your information by keeping up to date with these five cybersecurity basics you need to know.

1. Update Your Software

Not all software updates automatically. Be sure to check your app store to update any apps who have a pending update. Restart your computer to allow for updates and be on top of when updates come out, so you don’t keep clicking ‘Later’ and forget to install the new update. Updating your software improves any bugs in the apps or overall system to improve security.

2. Require Passwords

Any and everything needs a password. Your phone, computer and so forth should all require one – even though it’s a little extra work for you. In case your device would ever end up in the wrong hands, this adds one extra layer of security.

3. Use Multi-Factor Authentication

Many apps are now asking or requiring that you use multi-factor authentication. This requires you to add a second email or phone number to your account for an extra layer of security when logging in. Another type of multi-factor authentication is using an app to get a code that you have to enter when logging into a program or device.

4. Secure Your Router

Be sure to change your router’s preset password to something difficult – don’t do your household’s last name with a 1! behind it and think that’s good either. Be tricky so someone can’t jump onto your Wi-Fi and get your information.

5. Have Difficult and Different Passwords

We’ve said it once and we’ll say it again – do NOT have the same password for all your accounts. We understand you could have logins for 50+ sites, but it’s important to try to switch it up so that a hacker can’t get into everything. If they have your email and password that gets them into your email, chances are they’ll try that combination on all the other popular platforms you’ll probably have.

We hope these five cybersecurity basics refreshed you on the importance of being extra cautious with your devices. We want you and your information to be as safe as can be!

Financial Literacy 101: Teen Edition

If you have a teenager who doesn’t quite understand how important good financial habits are, it’s time to teach them! Giving your child the building blocks on saving, budgeting and understanding debt will help make them responsible adults. Here’s some financial literacy 101 for your teenager.

Bank Accounts

Explaining the different types of bank accounts to your child is crucial. Start by opening a savings account with them so they can understand the importance of saving. When they have a job, you could also work with them to open a checking account. This will help teach them the process of saving, spending money, using a debit card and writing checks.

Credit Cards

Even though your teen won’t have a credit card at that age, it’s important to teach them about credit cards and how they work. Explain the limits that are set, paying the bill each month and how that will affect their credit score. This will help them be prepared for when they do get their first card.

Debt

Teach your teen that debt is no joke. There will be car payments, groceries, entertainment purchases, credit card bills, student loans and so on. Making sure they know not to bite off more than they can afford is extremely important. This will help them understand all of the bills they will have to afford in the future.

Credit Score

Start explaining what a credit score is and how that will help them get lower interest rates in the future. This can also tie into the credit card conversation. Understanding the basics of a credit score now will help keep them out of trouble in the future.

Budget

Understanding needs vs wants is a great life lesson. Start your teen off with budgeting by having them help with the grocery list. Tell them the rough prices of what things cost, have them make a list and keep it under a certain amount. This will help teach them how to budget, so they can apply it to other things in their life down the road.

These basic items are critical for teens to understand. Looking back, you may realize you didn’t quite know all of these things when you were a teen. This is why we wanted to share this information, as we believe it’s a good thing to get ahead in the financial world with your child, so they are prepared.

Savings Resolutions to Kickstart the New Year

2020 brought a lot for us to handle, so we’re hoping 2021 will be the best year yet! Now is the time to start thinking about the changes you want to make with yourself and your habits this year. That’s why Heartland Bank wants to offer our favorite savings resolutions to kickstart the new year.

Improve Your Credit Score

Improving your credit score will allow for a higher credit limit, better rates on loans and so much more! To do this, work on creating a plan to pay off any current debt on your card. Think of what you can afford to pay off each month until you’re at $0 – while also factoring in any other expenses that will be put on the card while you’re paying it off. Once you’ve done this, be sure to set reminders on your phone or app to know when to pay at least the minimum balance on time. Paying late harms your score. Lastly, if you already have one or more credit cards, don’t open any more and/or close a card you no longer use. The length of time you’ve had your newest card plays into your overall credit score as well, so you don’t want more new cards until you have your debt paid off and make payments on time.

Build an Emergency Fund

People may think that they have money in their savings or checking account, so they don’t need an emergency fund. But what if your car were to breakdown or your furnace stopped working? That’s more than a few hundred dollars to fix which will make a large dent in your account. Then, all of sudden, you realize you have very little money in your Savings or Checking account and now need to figure out how to pay for your mortgage and car payment, as well as gas, groceries and utilities. This is why it’s important to have an emergency fund – that way, you know exactly what you have in your other accounts and have specific money set aside for emergencies.

Pay Off Debt

You don’t need to pay off all debt this year, as that’s unrealistic. You do, however, need to start a plan of attack to get on track with your payments on what you owe. When it comes to your mortgage, continue to make your normal payments. For other debts, like credit card debt, student loans, car payments and so on, work on seeing what you can put towards those each month and see if you can increase payments anywhere. Starting with your smallest debt can be a place to begin.

Create a Budget

Once you start writing down what you spend every month on every little thing, you will start to see how much money is going out of your account. By sitting down and going over your expenses, you’ll be able to see what you should cut or begin to limit. Then, you can come up with a realistic budget to work on sticking to each month which will help leave you extra money to spend on paying off your debt or putting in your emergency fund!

These are just a few ways you can start to save this year and help put yourself on the track to financial success. If you need a savings account to store your emergency fund, open one with us today!

5 Reasons You Should Utilize Online & Mobile Banking

Besides the obvious positive of having constant access to your bank account on your own device, Online and Mobile Banking bring various benefits to the table. If you haven’t downloaded our Mobile App yet, keep reading to find out why you should.

1. Deposit Checks Anywhere

Save yourself a trip by making it possible to deposit checks from the comfort of your home. It’s an easy process, too! All you do is endorse the check like normal, check the box that says it’s a mobile deposit, take a picture of each side and enter basic information. Your check will be processed in seconds – it’s as simple as that!

2. 24/7 Access

Say goodbye to working around the bank’s hours to do simple tasks like checking your balance, viewing your transaction history, transferring money, depositing checks or printing bank statements. With Online and Mobile Banking, you have access to these services and information 24/7, even outside of bank hours.

3. Quick and Easy Transfer

There may be instances when you quickly need to transfer money from your savings account to your checking account or vice versa. This process is simple, too, and in just a few steps, your transfer will be processed. Mobile banking is also helpful in situations where account balances get too low and you have automatic payments. You can set up notifications to make sure you transfer money before dropping below a certain amount and overdrawing.

4. Never Miss a Bill with Bill Pay

Bill Pay is easy to set up and allows you to pay your bills without having to lift a finger. By filling out a few quick forms online, money will automatically be sent out or transferred each month to pay your bills in a timely manner. Not only is this convenient for you, but it allows you to completely avoid the risk of paying a late fee.

5. Print or Download Statements

Save yourself another trip to the bank with access to e-Statements anytime. If you’re wanting to print or download statements for tax purposes or personal records, you simply login to your online account and print off what you want. This makes organizing your personal records easy, too, whether you want to do so on paper or safely and securely on your computer.

Now that you know why Online and Mobile Banking are so great, it’s time to get started! Click here to learn more about our services, ask us questions and to find out what your next online banking steps are.

Identity Theft: How to Protect Yourself

Protecting yourself from identity theft is more important now than ever before!

Rundown of Identity Theft

The first step in prevention is recognizing what identity theft is and why it’s dangerous. A simple description of identity theft is a crime in which an individual’s personal and/or financial information is illegally obtained, most commonly for financial gain. With your information, that criminal could then:

Withdraw money from your bank account
Steal your tax refund
Sell your information to others
Apply for loans, credit cards, etc. in your name

Recognizing Identity Theft

Now it’s time to understand what the signs of identity theft are so you’re prepared if you were ever put in this situation. If you start noticing any of these things, identity theft may be the problem at hand:

You notice unusual or unrecognizable withdrawals from your bank account
Your tax return received a rejection notice
You are turned down for a loan for bad credit when you have good credit
You notice an absence in your household bills coming through the mail

Preventing Identity Theft

The good news is there are a lot of things you can do to protect yourself from crimes like this. To make it not so easy for criminals to steal your information, follow these important steps:

Never give out personal information such as your Social Security number or bank information
Destroy private records with a paper shredder before throwing it in the trash
Check your bank account and credit reports regularly for suspicious activity
Create strong passwords and use different passwords for each account you own
Don’t click on unknown links and don’t enter any login credentials on an unfamiliar login screen
Never carry your Social Security card on you, but instead keep it in a safe and secure place in your house unless you need to access it

When it comes to protecting yourself from identity theft, the more precautions you take, the better! Make 2021 the year you decide to up your security game and take proper action. To learn more about cybersecurity or to discuss the financial services we offer, visit our website.

Break These 5 Bad Financial Habits This Year

During 2021, we want everyone to focus on a few ways to enhance their life and habits. Financially, you are always able to make a change for the better and increase your savings. Heartland Bank offers helpful tips to break these five bad financial habits this year.

1. Impulse Buying

When you see an item you think you need to have and buy it instantly, that hurts your bank account. That item may be on sale somewhere else and that deal they are giving probably won’t expire that day and will be extended. Take time to think before you buy. It’s also important to watch your feelings and mood when you want to buy something. Yes, retail therapy can help boost your mood, but you don’t want to continually buy things when you’re sad or need a pick-me-up.

2. Paying the Minimum

While it’s good to at least pay the minimum so you don’t get charged with late fees, it doesn’t mean you should always just pay the lowest amount possible. If you can, begin to pay off your debt faster by making more than the minimum payment. This can help you find financial freedom faster!

3. Pushing Retirement Savings

Even though retirement is far away, saving takes time. If you are going to live well past your retirement age, you must think about all the bills you’ll need to pay (housing, groceries, utilities, phone, medical and so on). You don’t want to save up for retirement a few years before it’s time because that’s a large sum of money to accrue in a short amount of time. The earlier you save, the longer you have to save and the longer your accounts have to accrue interest.

4. Spending More Than You Earn

Even though you have credit cards, it doesn’t mean you can afford to spend the whole limit. Truly think about what you make each month and find a budget to stick to. This will help you to not overspend and fall behind in your savings and payment goals.

5. Not Saving

While you may have money in a savings or checking account, that doesn’t mean you are actively saving. You need to create a budget and set aside money each month to actively put in your savings account for certain purposes like an emergency fund for you or college fund for a child.

We hope you break these bad financial habits this year. It’ll help put you onto the road to financial success! Save your extra money you’ll gain in a savings account with us.

A Beginner’s Guide to Saving Money

While saving money isn’t the easiest task, the first step is often the hardest part. If you’re new to the finance scene and are hoping to learn about some basic, money-saving tips, you’re in the right place! Setting realistic and doable goals is the key and we’re here to help give the push you need to get going.

Track Your Spending

The first step to knowing how to save is figuring out what your spending habits look like. Spend a few weeks tracking everything you spend, from each coffee run to the cash you tip the waiter. There are many money-tracking apps out there to make the process easier, otherwise the old-fashioned pen-and-paper method works great.

Analyze What You Tracked

Now that you figured out exactly what you spend, it’s time to break it up into categories and get a closer look. Organize the data into sections like food, rent/mortgage, gas, clothes, etc. Putting this into a chart is a great way to understand your habits visually. Most of the money-tracking apps will automatically show you organized categories of what you’ve spent for your convenience.

Make Spending Adjustments

Now is where the budget comes into play. Looking at the data you tracked, what did you spend the most on? What amounts surprised you? Pick out some things that weren’t necessary to spend money on and adjust your spending. Now that you know how much you spend, you can limit that amount and create a budget.

Set Up Automatic Transfer

This step is crucial! If you haven’t already set up automatic transfer to your savings account, now’s the time. You get to choose exactly how much along with when the money will be transferred, making saving money a breeze. This also limits the temptation of reaching for the extra cash you set aside since it’s in an account instead.

Create Realistic Goals

We’re not done yet! It’s time to set both short-term and long-term goals to make the most of your savings. Whether you’re saving for a car, hoping to buy a house, building an emergency fund or more, having goals to work for gives you the motivation to keep going. Figure out some short-term goals of how much you want to save along the way, leading to your long-term goals.

Now that you know the steps towards smart saving, you’re ready to start! Saving your money leads to a great reward and allows you to practice patience and persistence. If you have any questions or are looking to open a savings account, contact Heartland Bank.