Tag Archives: savings

Can You Really Save on Travel: True or False?

Save Money

Checking numerous sites for the best deal can be labor-intensive, and potentially counterproductive. With many American travelers turning to vacation book sites and apps, Heartland Bank is curious if they really save you money. After thorough research, we’ve discovered these four truths to successfully budgeting your next getaway:

TRUE: Travel sites offer money-saving opportunities.

FALSE: The lowest value is found on the hotel’s or airline’s website.

Many travel booking sites offer discounted airfare and accommodation, boasting the same services, only at a fraction of the cost. However, many times these sites merely display the cost an airline or hotel already has on their own site at no additional reduction. Select providers have begun to reduce participation in these travel search engines, and strive to instead offer their continued customers the best value straight from their own corporation.

TRUE: Credit cards are the most secure and affordable payment option while abroad.

FALSE: Airport currency exchange is worth the convenience.  

While there are many different options to exchange currency before your next trip, the safest method of payment during your getaway will still be your credit card. With many options now offering no currency exchange fees, you’re sure to avoid unwanted conversions costs while still protecting your finances. According to both Visa and Mastercard, credit card users are held liable for zero percent of any fraudulent charges. This means that should your credit card information become compromised during your stay, you won’t lose any funds because of it.

TRUE: Traveling outside of the peak seasons offers great savings.

FALSE: The skiing in Colorado is great in June.

While it is true that avoiding the crowds can save you and your family some extra dollars, it may not be worth it if it means decreasing the activities of your trip completely. Instead of limiting your travel timeline, we recommend looking for alternative accommodations such as VRBO, along with creative dining options, to maximize your destination’s budget. These additional savings can help to bring your overall cost down, while still making your dream vacation a reality.

TRUE: You can save a lot of money by using airline miles.

FALSE: Airline credit cards are worth the annual fee for a yearly vacation.

Unless you plan to fly every month, an airline credit card is hardly worth the cost. While these cards offer tempting miles for flights, increasing numbers of travel options are blacked out throughout the year. The annual credit card fee for United, American, and Delta costs approximately $95.00 after your first year of use. While boarding in group one can be a well-enjoyed perk, it doesn’t boast much ROI for fliers who are simply looking to reach their annual destination.

As you begin to plan your next vacation, Heartland Bank looks forward to helping you save the funds to make it happen. Stop in today and learn how to open a designated savings account today!

7 Financial Goals to Make 2017 a Success

Personal Finances

Heartland Bank challenges you to make 2017 the year of financial prosperity. Complete with an emergency fund, sound credit, and a monthly budget, you can conquer any fiscal goal so long as you keep moving towards it. To optimize your money management potential, we recommend these seven goals:

  1. Check Your Credit Score. There are many websites available which allow you to view your current credit score across the three reporting bureaus. However, the only federally authorized FREE site is com. This site gives users one free report from Equifax, TransUnion and Experian every year. By keeping regular track of your score, you can ensure that no fraudulent inquiries have been made, and no outstanding debts are currently being held against you. After all, a higher credit score could mean potential savings elsewhere.
  2. Make a Monthly Budget. This tool is invaluable when building your personal financial success. By creating a plan for each dollar you earn you are no longer reacting to your spending, but proactively telling your money where it should go. Adding this transparency to your spending can often showcase areas where you may be spending more than desired. After adjusting your monthly allocations you can then reassign some of those dollars to help build your personal savings and other areas of improvement.
  3. Automate Your Savings. “Out of sight, out of mind,” or so the saying goes. Adding processes to your budget, such as automated savings, can help you to accumulate money before you miss it. Before you start planning your spending for the month, determine how much you want to save. So long as your fixed monthly expenses are covered, you can then create an automatic monthly transfer from your checking to your savings. By doing this the same day you are paid, the funds will be gone before you even know to miss them. You can then budget the rest of your spending to cover flexible categories like groceries, entertainment, and more.
  4. Start an Emergency Fund. In order to safeguard your savings, you’ll need to create an emergency fund. This particular account offers protection against unexpected expenses or dilemmas that could otherwise infringe upon your diligent accrual of funds. It is often recommended to begin by saving $1,000, and then gradually work up to three or six months worth of income. By adding this cushion to your personal finances, you ensure that you are financially stable enough to weather storms both big and small.
  5. Submit Your Taxes Early. Tax fraud is an increasingly relevant issue, posing many problems for both the IRS and tax paying citizens. To help avoid potential criminals from using your information to their benefit, we suggest completing your tax return as soon as possible. Additionally, if you have a potential tax refund, the earlier you file your return, the sooner you are able to receive it.
  6. Maximize Your 401(k). To make the most of your diligent savings, we recommend revisiting your HR materials, to find out the specifics of your company’s 401(k) plan. If they will match up to ten percent, and you’re only contributing six, you could be missing out on free funds! Additionally, if you want to retire by a certain age, you may need to adjust your contributions to maximize the years you still have during your employment.
  7. Pay Down Your Credit Cards. Interest rates on credit cards are infamous for being consistently high. If you have multiple credit cards which carry a balance, we recommend paying down the account that has the least amount on it. By continuing to pay the minimum installment on each card, you can then assign any additional funds to the card with the lowest value, to help pay it off sooner. Once the first card is no longer carrying a balance, you can then utilize the monthly installment and the additional funds to put toward the next card and continue through the accounts.

Best Part Time Jobs for Students

Student Savings

College is a time period in which you begin to choose your path in life. With decisions ranging from effort in class, extracurricular participation, and money management style, you will find yourself gaining more and more responsibilities each and every day. Continue to build your college experience with a part-time career to help you better manage your money, and support some fun on the weekends!

  1. Dental Receptionist: With one of the best hourly wages for college students, this part-time job will help you learn the basics of scheduling and time management while allowing you to maintain flexible hours throughout the school year.
  1. Library Assistant: On campus jobs are a great way to reduce transportation costs. Snagging a job at your university library can help you with your classes too! After being trained on all the offerings the library has available, you can have primary access to all the additional resources and study materials – not to mention great pay!
  1.    Restaurant Staff: Offering flexible hours, and potentially reduced food costs, this is a popular and reliable option for students. Especially useful for those looking to become restaurant managers or chefs, this employment can serve as a great stepping stone to future opportunities.
  1.    Tutor: Not only as a community service, but also as a career, this valuable job enables students to continue learning outside of their classes, and get paid doing so. By continually explaining processes and concepts to others, you can increase your knowledge on the subjects as well!
  1.    Bank Teller: Filled with customer interaction, number crunching, and accountability, this position will help teach you all about money management, and the responsibility of being accurate. Not only does this position offer a good wage and flexible hours, but it also boasts an added opportunity to network with impactful members of your community.
  1. Bartender: Favored by many students, a position at your favorite college bar can provide flexible hours, socialization, and nightly tips to add to your pay. Remember to choose a bar with high traffic flow, to ensure a steady source of tips, and an increased potential to move up the rankings.
  1. Fitness Instructor: Getting paid to workout, almost sounds too good to be true! For those select few who have fantastic charisma and a killer routine, this is the perfect employment for you! With many students and community members searching for exciting new workouts, most college campuses are searching for students to fill rotating fitness class roles. Pick and choose the classes you want to teach, and have some fun!
  1. Social Media Manager: Now that social media is practically a mandatory part of any business, the need to manage those accounts is climbing faster than ever. Put your online skills to use, and see which local businesses could use your help. This innovative career can be completed from your room, or the storefront, so working for multiple entities could be a great opportunity!

If you’re ready to start searching for your next job, try browsing your college careers page! With campus wide services, there are always opportunities to find employment. At Heartland Bank, we encourage students to learn about how to save and spend their money responsibly, using a monthly budget. If you’re curious on how to set one up for your personal finances, stop in today!

 

Teaching Your Children the Meaning of Giving

Seasonal

The holiday season is all about giving. Whether it’s through time, labor, or funds, philanthropy is the spirit of the season. This December, help your little one’s understand the power of giving with these four lessons, courtesy of Heartland Bank:

  1. Help Yourself by Helping Others

Did you know that every time you participate in “gift-giving behaviors,” your body releases positive chemicals in the brain? Referred to as a “Helper’s high,” these chemicals are released into the body while participating in perceived good deeds. The release of dopamine, serotonin, and oxytocin is the body’s way of physically boosting your spirits during these activities.  While helping others has great benefits for the recipients, one of the most impactful things you can do to boost your mood, is to lend a hand!

  1. The Gift of Time is the Most Precious

Throughout the winter months, try offering a gift more precious than presents, by helping a neighbor in need. Whether it’s shoveling the walkway or blowing snow from the driveway, these gestures can make a world of difference. If you know of a family struggling during the holidays, offer to bring home cooked meals to help them along the way. Sometimes we overlook the kindness in a small act, so this season, see what you can do instead of what you can give.

  1. Financial Education is Key

To better understand how much to give, you first need to understand how much you have. If you give your child a weekly allowance, create three jars for them to store it in. One marked save, one marked spend, the last marked give. (You can practice this same exercise using envelopes for your monthly budget.) Each “payday,” you and your child can deposit the amount you would like in each. Be sure to let your little one know that the save and give categories allow them to continually accumulate funds for bigger items, but the spend category is specifically to use that week. At the end of a month see where you both stand. If there are funds for the save and give jars, help them choose a great organization or purchase to make it worthwhile.

Sharing the love of giving with your child is the perfect way to teach them about many life lessons, including finances! For everything from balancing a budget, to automating savings, there are many financial lessons that can prepare you to give more. If you’d like to grow your giving potential, stop in today and we’ll help you make it happen!

 

 

5 Ways to Save on Your Home Energy Bill

Seasonal

The cold months are here, and so is the increase in your home’s energy usage. Before the days get too chilly, put these key steps in motion to save some serious pocket change on your next utility bill.

  1. Swap out your 40 watt bulbs for a more efficient LED bulb. While the lights themselves may be more costly, they will save you money in the long run. Begin with one room in the house and every couple months splurge for another room’s new light bulbs. Slowly, your home’s lighting will become more energy efficient, dropping your electricity usage.
  2. Trade in those mesh curtains for an energy efficient alternative. Darkening shades can help to keep your house warm by trapping heat inside. As an added bonus, they also shield the sun, so sleeping in on the weekends has never been easier.
  3. If you have a family of four, doing laundry can add up quick! Decrease your energy usage by switching to a coldwash detergent and only using hot water when deep cleaning whites. For additional savings, hang items to dry in the basement or garage, eliminating the energy needed for the dryer.
  4. Fill your freezer. By keeping a full freezer, you make the appliance work less, once all the food is frozen. Each of the items inside of the freezer will help keep the space frozen, meaning less energy is needed to keep everything cold.
  5. Pile on the layers this season. Once the cold comes, instead of running to the thermostat, make your way to the closet. Adding sweatshirts, jackets, and cardigans to your wardrobe can help you stay toasty on those chilly nights, without spiking your energy bill. If the evening is particularly cold, enjoy the night in front of a warm kindling in the fireplace, and remember to add a couple blankets to your bed!

Whatever tactics you choose to save, Heartland Bank is here to help! Give us a call or stop by today!

 

The Envelope System 1-2-3

Budgeting

This age old budgeting system still offers valuable insights to individuals and families across the country. Simplistic in form, this budgeting tool can help you manage your funds through direct accountability and a simple tracking function. Get started today, and Heartland Bank will help you along the way!

  1. What is the envelope System?

The envelope system is a budgetary guide where each category of your budget is represented by a physical envelope, filled with the cash for that month’s spending. As you need to spend in a designated category, you only use the funds from its matching envelope. Once the envelope is empty, no more spending.

  1. How does it work?

This budget hinges upon your accountability to yourself, and not overspending in areas where there is no cash remaining. Before setting the amounts for the month, examine your current spending and see which areas perhaps you could cut back, and other categories that may need a few more dollars. This will help ensure that your monthly budget is an achievable goal, that won’t leave you wanting at the end of the month.

  1. Why should I try it?

Getting your finances together helps open opportunities that may not have been present before. By accurately and responsibly managing your finances you may have the potential to save for a vacation, pay off debt, or purchase that item you’ve been dying for. By trying this system you are creating a goal for you and your family to look forward to a debt-free and more financially secure future.

Getting started is as easy as 1-2-3. Stop in the bank today and we can work with you to withdraw the amounts needed for your individual spending categories, and we’ll even give you the envelopes to go with them. If you’re still curious on how to best set-up your monthly budget, we can help with that too – just drop us a line or stop by!

The 10 Most Affordable Winter Destinations

Savings

The snowbirds seem have the right idea! Just as winter becomes too chilly and snow-filled, they flee to warmer weather! It just so happens that this is the ideal time to visit a variety of areas, while their prices remain low during their slower season. See how you can capture the best deals on your getaway from the colder weather, along with other popular snow-covered destinations.

Panama City, Panama: This amazing city is a must-see for those with a case of wanderlust. Filled with old history, and new innovation, the town of Panama City continues to surprise your senses. Explore the Casco Viejo area, and make your way to the Manolo Caracol restaurant. With this deliciously simple meal in your belly, you’ll be able to take on any adventure you find in Panama.

Singer Island, Florida: For this tropical getaway you don’t even need a passport! Tucked along Florida’s southeast coast, this local paradise offers the best of the beach life along with luxurious city activities in the neighboring West Palm Beach. If you’re looking for adventure, scuba shop Pura Vida Divers can help you fulfill all your scuba dreams! With diving, snorkeling, and surfing services, this family-run business will make sure your time with them is the best memory of your trip.

Punta Cana, Dominican Republic: Filled with luxurious all-inclusive resorts, this caribbean getaway will help maximize any budget! There are hundreds of resorts to choose from, and most offer packages which include meals, beverages, and on-site hotel activities. Be sure to also catch a round or two of golf at their renowned clubs across the island!

Ambergris Caye, Belize: Feel the heat year round in this island paradise! With activities on both the island and inland, you’ll never have a dull moment at this destination. If you’re searching for some adventure, be sure to stop by Amigo’s to book your next cave tubing, zip lining, or ruin climbing tour! After your day you can enjoy an unwinding meal at the island’s best ceviche restaurant, Hurricane’s, but watch out for their signature hurricane cocktail!

Vancouver, Canada: Home to the famous Whistler Blackcomb mountain, this chilly destination is filled with plenty of activities and beautiful snow-covered trees! Extend your trip into the city of Vancouver itself to discover the Granville Island market and delicious local delicacies such as poutine and the JapaDog.

Big Sky, Montana: Avoid the chaos of Winter Park, and venture to the less populous, but immaculate slopes of Big Sky. With affordable packages to ski and stay, you and your family can enjoy your days on the slopes, and your evenings at the lodge. If you feel like venturing into town, you can warm up with some deliciously spicy food from the local favorite, Alberto’s.

New York City, New York: This iconic destination definitely makes its mark on your traveling memories, and during the winter, it becomes more affordable than ever! With inspiring sights such as the Rockefeller Center, and the Ground Zero Memorial, this city will inspire you throughout your vacation. Share a laugh with your family and get tickets to the Tony Award-winning Best Musical, Book of Mormon. This trip will surely be one to remember!

For every adventure you plan, there should always be a budget behind it! If you want to learn how to best save and budget for your next getaway drop us a line or stop by today!

Save $3,500 this Year by Removing These 6 Things

Savings

Saving money is no easy task! Only after dedication and determination, can you look successfully into your account to see the difference saving can make. At Heartland Bank, we’re excited to help you achieve your financial goals, and we can’t wait to get started! If you’re looking to tuck some funds away for an emergency savings, or vacation fund, these six tips can help you accumulate $3,500 in savings over the course of the next year.

  1. $720: Cut the cable – at $60+ each month this common expense eat up your budget in a hurry!
  2. $1400: Brew your own java – instead of grabbing a latte on your way to work make your own cup of joe and save that extra $4/day.
  3. $600: Plan Your Meals – instead of playing by ear each night for dinner, make a dedicated meal plan each week and stick to it. This will help cut costs on eating out and unused groceries. Remove one dining out meal each month and see the difference this can make!
  4. $468: Workout at home – the average gym membership runs $39/month which over the course of the year can add up quick. Try online workout videos and create a routine which uses various household items.
  5. $312: Pack your lunch – With most quick lunches running about $10/each, sneaking away for lunch could be costing you! Try packing a lunch from home to avoid these expensive dining options. Changing just three lunches each month could save you more than three-hundred dollars!

Learn how to open up your ideal savings account at Heartland Bank to get started on your savings dreams today!

What Your Birth Order Says About Your Money Management

Personal Finances

Every family knows there’s a difference between the various siblings, but why is that? Many psychologists agree, birth order plays a large role! Each member of your family is generally rooted in one of four personality types which help define their core behaviors and beliefs. Discover how these traits can translate to your money management style at Heartland Bank.

First Born: Typically the leader of the family, first borns are strong minded and organized with a heavy protective tendency. Many of those born first err on the side of caution, creating savings accounts for emergencies and unexpected situations. This sibling tends to enjoy being in charge and knowing all the variables. Any expenses, debts, or other monthly bills will be allocated and prepared accordingly. First borns tend to work towards their dreams, and may have the downfall of taking a financial risk to do so.

Middle Child: Always the people pleaser, middle children are most known for helping others. If you need an extra buck or two for lunch, this sibling will the the first to lend a hand. Often on the rebellious side, the middle child may be more apt to invest in some riskier stocks, but depending if they pan out, it could make financial sense in the long run. Typically talkative and social, many middle children challenge the norm and create new versions of savings schemes. This sibling will be the first to try the next and best retirement plan before storing away long term savings.

Last Born: Optimism, attention, and organization generally drive the youngest of the siblings. After learning from the mistakes of the older members of the family, this child typically has most financial questions answered before ever needing to ask. This sibling will be the guru of rewards points, always finding the best perks and benefits for various programs. Always looking on the bright side, the last born is compelled to live the best of their life now, assured the future will work itself out later.

Only Child: Frequently told they’re mature for their age, the only child is known for their leadership, sophistication, and drive towards perfection. The typical only child will have a detailed account record with meticulous payment upkeep. These individuals strive to be the best, and are determined to achieve their goals. Expect them to have a strategic savings plan, retirement investing, and a well-rounded home improvement fund. Always up for a challenge, only children can often be great investors seeking out the best stock options for their needs.

No matter your place within the family tree, you’ll always have a financial partner with Heartland Bank. Whichever goal you’re aiming to tackle next, we’ll help you achieve it!

 

How to Create your Emergency Fund and When to Use It

Savings

Creating a structured savings plan is one thing that can set apart the financial dreamers from the financial doers! By setting strict guidelines to your goal, and ensuring the correct follow through with a backed up savings plan, you can be certain of your success in accomplishing your future achievement! One of the biggest obstacles in these plans is the unforeseen, and there is a way to manage even that. Using a well-rounded emergency fund can ensure that you don’t dip into saved funds for unexpected costs such as auto repairs, or medical emergencies. Want to get started setting up your emergency fund today? Follow these simple steps and you’ll be on your way to financial success!

  1. Open a dedicated savings account.
  2. Deposit Funds each month without withdrawing anything.
  3. Start by saving $1000.

– Next save 3 months’ worth of income and expenses.

– Finally maintain 6 months’ worth of income and expenses.

The reason you have this fund is simple, to prepare for the unprepareable. Whether it’s an unanticipated job loss, a costly home repair, or other unplanned expenses, your emergency fund can help you stay afloat when the waters get rough.

The main objective of this account is to have it work for you and your needs! By specifically determining what you define as an emergency (job loss, vet bills, auto repairs) and what doesn’t (last minute birthday gift, broken TV, new clothes) you can generate a structured list to know when you feel safe using those funds, and when perhaps its best to leave them untouched. The idea of the emergency fund is to have it when you need it. By gaining access easily via checkbook or debit card, you can make use the account more quickly when the unexpected strikes.

By generating your own emergency fund you can continue to save for milestones and pay bills, without worrying about the what if’s that lie along the road to the future. Get started with your emergency account today at Heartland Bank, we’ll help you get to your next savings goal!