Author Archives: Heartland Banks Blogger

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!

7 Daily Habits That Will Save You Money

Saving money doesn’t have to be complicated – there are habits to incorporate into your daily routine that will save you money in the long run. These tips are simple and easy to start but also very effective. It’s time to take control of your finances and make some healthy changes!

1. Pay with cash

Using a credit card for everyday purchases can be tempting and often lead to impulse buying. A good way to stick to your budget is to have a certain amount of cash for the week and use only that cash. This is also great because you can’t spend money that you don’t have.

2. Do more things at home

Too often we rely on other places to do tasks that can easily be done at home. For example, many people spend lots of money going out to eat, getting their car washed, stopping for coffee, getting their hair trimmed and more. These are all things that can be done for a much lower cost in the comfort of your own home!

3. Check the secondhand shop first

You never know what secondhand gems you can find until you try! Before making a purchase, check garage sales, thrift stores, the Facebook Marketplace or more to see what deals you can find.

4. Schedule when to track your spending

To hold yourself accountable for what you’re spending, it’s a good idea to track your spending. Plan a day you’ll do this each week, so it becomes a habit. It’s a great way to reflect on what purchases were necessary and which ones weren’t. There are lots of apps you can download to help with this.

5. Be careful with your utilities

Even though utilities are a recurring cost, there are still many ways to reduce how much you must pay. Try cutting costs by keeping lights off, taking shorter showers, opening your windows rather than cranking the AC, etc. These costs can add up so this is a great habit to start!

6. Reevaluate memberships and subscriptions

Go through all the subscriptions and memberships you pay for. Which ones are necessary and which ones aren’t? Save yourself some unneeded costs by getting rid of some monthly payments.

7. Take time to think before you buy

Before making a non-essential purchase, give yourself a few days to think about it. Only follow through with the purchase if after those days you still really want it to help reduce impulse buying.

We hope these tips will make a difference in the way you handle finances in your everyday life. Turning these seven things into habits will certainly pay off in the long run, so give them a shot! Contact us to learn more about the financial services we offer.

Retirement: What You Should Know

While retirement might sound lifetimes away, it sneaks up faster than you think. Many people wonder when to start saving for retirement, how to start, how much money they’ll need and more. We’ll answer those common retirement questions in this blog, so keep reading to find out more.

When to Start

The time is now! If you are earning paychecks, start saving for retirement as soon as you can. The sooner the better, and the main reason for this is because your money will have more time to grow. Compounding makes a huge difference, and those 5 or 10 years of extra saving can turn into tens of thousands of dollars more than you would’ve had before.

How to Start

Don’t be intimidated – you can start small and work your way up to saving more. Something is better than nothing, so even putting a couple hundred dollars into your retirement savings is a good start. The next step is to be consistent. Keep adding to the pile periodically and don’t tap into that money unless necessary.

How Much to Save

One general rule-of-thumb is to save at least 70% of your yearly salary for retirement. Another way to look at it is to save 10-15% of your income starting in your 20s. The amount you save depends on what you plan on doing once you’re retired. If you plan on traveling the world or buying a new sports car, your retirement fund will look different. It’s smart to have an idea of your retirement plans so you can adjust how much you save accordingly.

When to Retire

The answer to this is different for every person depending on your retirement plans and how much you’ve already saved. The average retirement age is 62, but many people retire earlier or later in life. Some people also enjoy working and staying busy, so working doesn’t really come with an age limit. Knowing what age to retire comes with lots of planning and financial analysis, so be sure to talk to an advisor to know if you’re on track.

What if You’re Falling Short?

If you’re saving like crazy but still won’t meet your retirement goals, it’s time to consider some alternatives. The most effective change to make is delaying your retirement by just a few years. Not only will this add to your fund, but it takes off a few years you would’ve had to pay for to make it through retirement.

As time goes on, retirement gets closer even when it seems far off. If you haven’t started saving already, it’s time to start!

Financial Tips Your Kids Should Know Before College

Whether you’ve had children head off to college in the past or this is your first child to do so, these financial tips are a great refresher for everyone. College students are known to live off of very little money, but there are ways to change that. Going into college with a financial plan will help your child avoid worrying about money while in school and can lower the amount of debt he or she might have in the future.

Talk About a Plan

Before your child moves out and has control of their finances, they should have some sort of plan ready. This might be as simple as creating a list of part-time jobs they could apply for, or it could be a detailed plan including monthly budgets. Whatever works best for your family is the smartest option, but even a small plan is better than no plan at all. Your child will go into school feeling much more prepared to handle money if you talk about it beforehand.

Create an Emergency Fund

You never know when a financial emergency will arise, so having a backup plan is important. Remind your child how important it is to have an emergency fund, and if they don’t have one started, create a plan to start one.

Be Careful With Credit Cards

Credit cards can help you build a good credit score if they’re used wisely. Many mistakes are made when it comes to credit cards, but if you use them the right way, they can be very beneficial. Make sure your child knows to limit the number of credit card accounts they open and to always pay in full each month.

Know the Importance of Budgeting and Saving

Not only will a budget and savings account help your child keep their spending in check, but it will teach them valuable lessons about self-control and patience. As badly as they might want to spend what they earn, help them understand why investing in their future is so worthwhile.

Leaving for college is a big and exciting step in your child’s life. Helping them to prepare financially will benefit them and also give you peace of mind. We hope both you and your children will benefit from being reminded of these simple, yet effective financial tips. If you have any questions about our banking services, feel free to contact us – we’re happy to help!

How Can My Teenager Start Saving for the Future?

High school years are often tricky when it comes to money. Your teenager might have a part-time job, but how can they start using that money wisely and investing in their future? Keep reading to find out how you can guide your child towards smart financial decisions.

Open a savings account and don’t touch it!

The first step is for your child to open a savings account. Here they can stash a percentage of the money they’re making for future use. Time works wonders on money, so investing what they have will allow it to grow and become much more than it once was. That’s not all, though – make sure their savings account is strictly for saving and that it’s not being tapped into for other reasons.

Record and keep track of purchases.

A great way for your teenager to find out if they’re overspending is to put it on paper. Have them keep a book and write down all the purchases they make. At the end of each week or month, they can look back at what they’ve spent and know what changes to make in their spending habits.

Find a part-time or summer job.

If your child is too busy to work during the school year, a great solution is to help them get a summer job. If weekends are open, they could even find a part-time, weekends-only job during the school year to help rake in some extra money.

Get a jumpstart on an emergency fund.

If you haven’t talked to your teenager about the importance of an emergency fund, now’s a good time to do so. If they start putting money aside for emergencies only, they’ll be way ahead of the game by the time they need one as an adult. It’s never too early for your child to start investing in their future. Odds are, down the road they’ll need that emergency fund and will be more than thankful they started it early.

Plan ahead and set goals.

Once your high schooler graduates, they’ll be paying for things they might not have thought about. One smart move is to think ahead about what they’ll need to pay for so they can set a goal amount to save. For example, maybe they’ll need to buy a car, pay for college, move out and pay for rent, etc. Whatever it may be, having a goal in mind is a good motivator.

There’s nothing better than planning ahead, achieving your goals and getting a jumpstart on the future. Your teenager will thank you later for guiding them towards smart financial decisions, and the best time for them to start implementing these tips into their life is now! To help them start saving, set up a savings account with us today!

Finance Tips for Newlyweds

Whether you’re getting married in the coming years or just recently said “I Do,” this exciting time of your life comes with things to think about and discuss. How you manage money will change and be adjusted once you get married, so planning it out beforehand is a must. Here are some tips for you and your partner to remember for after the wedding day.

Talk about your debt

Honesty is key in a relationship, which means it’s time to be honest about what debt you have. Whether you have student loans, a car loan, credit card debt or something else, knowing how much there is left to pay is important before planning your budget. This might not be the most fun conversation to have, but it’s an important one nonetheless.

Discuss your financial past

How your family handled money when you grew up can play a part in how you deal with finances when you’re older. It’s always a good idea to hear where your partner or spouse is coming from to get a better understanding of why they do things a certain way when it comes to their finances.

Plan a new budget

Once you get married, your individual budgets become one. Figuring out a monthly household budget is important so you’re on the same page. A good place to start is listing all of your monthly expenses, then deciding which ones aren’t necessary. Knowing what your budget is will help both of you avoid overspending.

Decide on a bank account option

Something to consider is whether you plan on having a separate or joint bank account. While there are pros and cons to both, one decision might benefit you over another. Once you decide what to go with, you’ll have to go over the cons of that choice and figure out how to handle issues that may arise in the future. For example, if you choose separate bank accounts, you’ll have to decide how to handle separating bills. On the other hand, with a joint bank account, budgeting can become a future issue.

Think about retirement

Retirement might seem far out, but it’s something that will play a big role in your life together. It’s better to start saving for retirement sooner rather than later.

Keep the conversation going

Continue talking about finances after you get married – conversations about money are important in every phase of life. Keep the financial talks going so you stay on the same page.

Congratulations on your soon-to-be or new marriage! We wish you and your spouse the best and hope these financial tips can be beneficial to your relationship.

Cybersecurity Tips for Small Businesses

Concerns about cyberattacks on small businesses continue to grow, and knowing how to protect your business is crucial. Because smaller businesses don’t have the same amount of security as big businesses, they’re prime victims for cybercriminals. Keep reading to learn the best ways to keep your small business out of online danger.

Always use strong and secure passwords

This is the most obvious and well-known cybersecurity tip, but it’s one of the most important. If you want any sort of protection from hackers, your passwords must be strong, secure and updated regularly.

Never use the same password for multiple accounts

Going along with the first tip, password security is a must. Not only should your passwords be strong and updated, but they should differ on each account. Using the same password for multiple accounts is risky because if one account is compromised, they all are.

Keep your software updated

Outdated and old versions of apps can be more vulnerable to hacker access. A great way to keep your software secure is to install all updates for software and applications as soon as they’re made available.

Use VPNs (Virtual Private Networks)

VPNs are made to encrypt all traffic that leaves and enters your device. Using a VPN is a smart step towards securing your business’s information. If a cybercriminal somehow hacks you and intercepts your information, it will all be encrypted data which is useless for them.

Train your employees properly

Being consistent with your employees is extremely important for your small business’s online safety. Make sure all employees know what precautions to take, how to use and handle business information and what the penalties are for failing to follow those rules.

Try hacking your own system

Hiring an IT specialist to analyze and audit your system to search for weaknesses is a great way to see what needs to be improved. Doing this will help you understand how to better protect your small business. Most small businesses are very under-protected when it comes to cyber safety and protecting their information. We hope you’ll follow these tips and take all the necessary precautions in order to keep your small business out of harm’s way.

7 Personal Cybersecurity Tips

As time goes on and technology expands, people are becoming more and more prone to cybercriminal attacks. By following some basic tips, you could avoid a multitude of problems in the future!

1. Use Strong and Varying Passwords

This is probably the most obvious and common cybersecurity tip known to web users. Don’t underestimate the importance of your password strength! Change your password every once in a while to be safe (recommended at least once a year). Also, don’t use the same password for more than one account.

2. Be Careful With Your Personal Info

Personal information, like your address, birthday or phone number, should be posted carefully. The smartest option would just be to keep as much of that information off of your social media as possible. These personal details are used by cybercriminals to locate individuals. Better safe than sorry!

3. Recognize and Stay Away From Phishing

Phishing is when someone poses as someone they aren’t to trick people into giving them information, clicking on a dangerous links, etc. This is the most common way ransomware attacks originate. Be suspicious about the emails and messages you receive and don’t open messages from people you don’t know.

4. Utilize Two-Factor Identification

Many social media sites have two-factor identification options and most users don’t take advantage of this helpful security option. Two-factor identification prompts you to not only enter your username and password, but also another personal identification code.

5. Update Your Software

Keeping your device’s software updated might not seem like a safety-related tip, but both businesses and consumers have suffered from hackers due to not updating. Try turning on the automatic updates offered on your device.

6. Say No to Public Wi-Fi

Using public Wi-Fi if it’s available seems like a no-brainer. What most people don’t realize is how much easier it is for cybercriminals to access your accounts and devices when you’re connected to a public Wi-Fi network.

7. Install Trusted Apps Only

Not all applications are safe, and not all of them can be trusted. Check reviews and ratings before installing anything you’re unfamiliar with!

Don’t let yourself fall into the statistics of those dealing with cybercriminals! Protect your devices, accounts and personal information by following these tips and always being cautious online.

Homeowner Costs People Forget About

Are you thinking about taking the big step of becoming a homeowner? Purchasing your first house is a significant and exciting change, but it can be easy to get caught up in the excitement and forget about certain costs. If you want to make sure you have all of your financial bases covered before owning a house, keep reading!

Lawn Upkeep

The cost of maintaining a lawn is one people often underestimate. Whether you hire someone to keep your lawn looking fresh or decide to do it yourself, it will cost some money. Besides needing a lawn mower for cutting your grass, keep in mind things like pest control, weed killer, fertilizer and landscaping. Some other equipment needed in lawn upkeep includes a hose, sprinkler, rake, weed wacker, trimmers and much more.

Keeping it Clean

Keeping a house clean is much more challenging and costly than cleaning a small apartment. Many families not only add onto their collection of cleaning supplies, but usually double almost all of the supplies they own. It may sound unnecessary, but once you have to start making trips up and down stairs to clean different levels of the house, you might want to double your supplies, too.

Property Taxes

One of the biggest payment differences between paying rent for an apartment and paying a house mortgage is property tax. It’s important to figure this out beforehand and add it to your estimated monthly payment so you know what to expect.

Immediate Renovations

After buying a house, it’s normal to want to turn that house into a home. Homeowners are constantly looking for things to improve, like redoing the kitchen cabinets, fixing the deck, changing the wall colors, finding a new floor you love… the list goes on. Keep in mind when house hunting what you’d want to change about the houses you look at and add this to the list when considering your expenses.

Time

This one seems obvious, and although this particular cost won’t be coming out of your pocket, it’s a very important component to consider. Owning a house means doing everything yourself – something you didn’t always have to do while living in an apartment. Keeping up with maintenance, dealing with pest control and tending to the lawn are some of the many time-consuming things that come with being a homeowner.

Now that you’ve considered some of the unexpected costs of owning a house, you’re able to make a more informed decision on if taking this step is the right choice for you right now. We offer home loans that will help your homeowner journey become a little smoother.

5 Things to Teach Your Kids About Money

1. The Importance of Saving

The easiest way to encourage your kids to save money is by getting them a piggy bank. Go to the store and let them pick out a piggy bank they love, and they’ll soon find that keeping their money is enjoyable. Encouraging them to put their earnings in their piggy bank will teach them the importance of saving money early on.

2. How to Make Money

Implementing chores as a regular thing is a great way to teach them about earning their money. Start simple and give them a small allowance when they help out with some household tasks. Giving your kids an allowance without having them work for it is giving them the wrong idea about money. Chores are a perfect way to get your housework done quicker, and you’re teaching your kids a valuable lesson while you’re at it!

3. The Danger of Impulse Buying

Kids tend to be very impulsive and often have a hard time thinking through their decisions before making them. Teach them about the danger of impulse buying by not giving them everything they ask for right away. For example, if they see a toy in the store that they’re interested in and immediately ask for, don’t give in. Start saying “no” and explaining why it’s not a smart purchase. Kids learn by observing, so make sure you’re controlling your own impulse buying so they are observing good spending habits.

4. How to Budget

If your middle school or high school child has a part-time job, odds are they don’t have a whole lot to provide for quite yet. Teach them the importance of budgeting while they’re still living under your roof so when they move out, they’ll already know how. There are lots of helpful budgeting apps or plans online to get them started on.

5. Giving Back

Giving back is an important part of being an active community member, and also teaches kids other great qualities like being selfless and considerate. Let them choose a charity, organization or church they are interested in and teach them the importance of giving.

If we all do our part to teach our children about money, we’ll be bettering the next generation. Open a savings account for your child with us!