The spread of the coronavirus has closed schools for at least a few weeks. While many schools are giving students online schoolwork, that doesn’t necessarily fill the entire day. Here are some (budget friendly) ideas to keep kids busy at home during this time of social distancing.https://www.iheart.com/podcast/1248-thats-so-money-30812567/episode/kids-activities-during-quarantine-62043316/?embed=true
Set up a scavenger hunt. This is an inexpensive activity that utilizes things that you already have in your house, and depending on how many items you are searching for, it can last a while.
Have an alphabetical scavenger hunt – find something that starts with “a”, find something that starts with “b”, and so on and so forth.
Enjoy a little fresh air and set up an outdoor scavenger hunt. Write a list of things to find in your yard, such as a twig, 2 smooth stones, a blade of grass, and make a scrapbook or art page out of them!
Break out the board games and puzzles. Take out those classic board games that are most likely in the back of your closets, such as Monopoly, Life, Candy Land, and Scrabble. Want something a bit more low key? Complete a puzzle!
Do some reading. This is something you have most likely already thought of, but did you know that most public libraries have a digital library of books, services, tools, and even virtual story times? Make sure to check out your local public library website or their Facebook page to see what they offer digitally.
Get outside for some fresh air.
Draw pictures outside with sidewalk chalk.
Go for a walk. You can’t get cheaper than this and it’s good for you.
Indoor Crafting! Pinterest is full of great craft ideas, but here are a few to get you started!
Have your child write a letter or card for a family member, local senior, veteran or a hospitalized child.
Gather a cardboard box and paint with marbles.
Cut spring flowers out of paper and use straws for the stems to make a flower bouquet.
Take some time to make homemade meals and dessert.
If you have the food items to do so, cook a few meals with your kids that you are able to freeze and heat up later.
For dessert, make your own ice cream. It’s easier (and cheaper) than you think. You only need cream (or half-and-half), sugar, salt, ice, vanilla and two ziploc bags. Click here for the recipe
Movie time! Although theatres are currently closed, set up a bunch of pillows, pop some popcorn, and enjoy some screen time at home. Disney+ , Netflix and Hulu have great movie options. This may be a great time to watch some movie sagas you’ve been wanting to have time for, such as the Marvel series, Star Wars or Lord of the Rings.
The Milwaukee County Zoo is closed, but they’re still sharing pictures of what their animals are up to on social media and you can even view your favorite animals at the zoo here via live cam here.
Additional school type activities.
If you feel like your child’s school hasn’t provided enough work to keep up their skills, do some searching online. Scholastic is providing free day-by-day projects to keep kids reading, thinking, and growing.
If you have kids inside that need to get energy out or want designated breaks during work time, try GoNoodle.com or Cosmic Yoga.
Any great ideas you think should be added to this list? Email
Learn about how to refinance your home and what to expect from the process here!
What is a mortgage refinance? Refinancing your mortgage basically means that you are trading in your old mortgage for a new one. The new loan pays off the old one so you’re left with just one loan and payment.
How do I refinance my home? A mortgage refinance replaces a home’s current first mortgage with a new mortgage. The rates and terms may differ from the original mortgage depending on why a customer is refinancing.
How do I determine the best time to refinance? Refinancing can be a sound financial decision if it reduces your monthly payment, shortens the term of the loan, or helps you build equity more quickly.
What are some of the benefits of a home-refinance? Borrowers may consider refinancing for several different reasons, but the two biggest benefits are to reduce your monthly mortgage payment and to save on the interest paid over the life of the loan.
What are the risks of loan refinancing? You may “start” your loan over. If your current loan is a 30 year fixed and you refinance to another 30 years fixed, it will take a longer period to pay it off. You are “resetting the clock” on your original mortgage and the maturity date will be later. Sometimes an appraisal is required and if the value comes in lower than anticipated, the refinance may not be approved.
How do I know if it makes sense for me to refinance? If rates now are better than they were when you got your loan, refinancing might make sense for you. A lower interest rate is one of the best reasons to refinance but there should be some consideration given to moving to a shorter-term as well as the interest savings could be in the hundreds of thousands!
Should I refinance if I only plan on living in my home for a few more years? It depends on your mortgage amount and interest rate. It could take some time to recoup closing costs but if the savings outweigh the costs it’s a good reason to look into doing so.
What do I need to do to start a mortgage refinance? What type of documentation is needed? The refinancing process is often less complicated than the home buying process, even though it contains many of the same steps. To start a mortgage refinance an application is needed. When you apply to refinance, your lender will ask for all the same information and documentation you gave them when you bought the home. They’ll look at factors like your income, assets, debt, and credit to determine whether you can pay back the loan.
What happens at the refinance loan closing? The homeowner is required to sign various legal documents such as a note, mortgage, and closing statement. The consumer must be given a 3 day right of recession which is required on every refinance of a primary residence. If the refinance is a cash-out, the funds are distributed after the 3 day right of recession has passed. The lender then pays off the old mortgage and the new mortgage takes its place.
Is refinancing available for FHA, VA, Jumbo, or USDA loans? Yes!
What makes Bank Five Nine a great place to refinance your mortgage?
We underwrite most of our own home loans
We provide most of the funding; we don’t rely on third parties to fund your transaction
We offer free pre-approvals and second opinions
Low closing cost options are available
You can apply online without needing to come into the bank
If you’re ready to get started or would like more information on how to refinance your home, please Contact a Lender or Apply Now!
Blog Post Guest: Sue Lorenz Sue Lorenz is a Bank Five Nine Mortgage Lender and Mortgage Loan Sales Trainer. Sue has worked in nearly every facet of retail banking, Sue’s focus has been mortgage lending for nearly 20 years. Her business is about building a relationship with each customer she serves. To learn more about Sue, apply for a loan, refinance, or to receive a free consultation click here.
While many will splurge this Valentine’s Day (the average American spends $161.96 on Valentines day, according to the National Retail Federation), why not look for simple and affordable ways to show your appreciation for your loved ones and celebrate in a way that doesn’t break the bank? Read on for 14 budget friendly (Wisconsin focused!) Valentine’s Day ideas to try this February 14th:
Have your date at a local coffee shop or bakery (after all, most can agree that the delicious desserts are the best part of a meal right?!) Seek out a café or bakery with a comfortable atmosphere and enough space for you and your valentine to sit down and have a conversation.
Star gazing. Yes, lying on blanket outside may not work in the middle of February in Wisconsin; however, the Milwaukee Public Museum allows you to do some inside star gazing together during their Valentine’s Day special “Romancing the Stars”. Couples can embark on an out-of-this-world date at the Planetarium, complete with a romantic tour of the universe and a look at which star clusters are actually “constellations of love.” Attendees will receive a red rose and box of chocolates to complete their perfect evening.
Movie Night. A trip to the movie theater can add up quick for the pair of tickets and snacks. Have a movie marathon at home for just a few dollars. Rent your favorite movie off of Amazon, pick one up from Redbox or even at your local library. Don’t forget the popcorn and heart shaped candy!
Dine in & cook together. Open up a bottle of wine, put on your favorite music, dance around and start cooking. Pinterest can be a great spot to go for a new recipes, or YouTube for online cooking classes! By dining in you’ll save money and skip the crowds. Want to make it really feel like a special date night? Dress up for your dinner. Bonus: Make your dinner at home a themed dinner. Watching 50 First Dates when accompanied by a pineapple upside down cake or watching two pups fall in love during The Lady and the Tramp while eating a plate of homemade spaghetti and meatballs is much more fun. Click here for some Romantic Movie Menus
Create a Scavenger Hunt. This can be made into a family or couple activity. You don’t even have to leave your house (even though you can to make it more adventurous). At the end of the hunt, exchange little gifts, cards or baked goods that you’ve purchased within a pre-agreed upon budget.
Wine tasting. If you and your Valentine love wine, look for an affordable wine tasting in your area. Many wine shops will host tastings for free and the experts can even point you in the direction of the best affordable wines the shop has to offer. Looking to be even more cost effective? Have a wine tasting at home!
Bowling. While this may not seem like the most romantic date night at first, after a fun night of friendly competition, you may find it’s the kind of fun you and your valentine were looking for.
For active couples, try the Cupid Shuffle Race. Get out there and conquer the cold with the perfect jog with the ones you love.
Ice Skating, sledding and hot cocoa. Valentine’s Day in Wisconsin is always pretty chilly. Why not use it to your advantage and bundle up to go sledding or ice skating with your valentine? Many sledding and ice skating rinks have a lodge or coffee shop nearby to sip on some hot cocoa after.
Do a little painting. Channel your inner Picasso with a little paint, a little wine (or soda), and a canvas! Splash Studio in Milwaukee even offers a week of Valentine’s Day sessions.
Arcade Night. All you need is quarters for an awesome time at an arcade.
Be a tourist in your own town. Not only can this be inexpensive, chances are, that the place you live probably has a lot to offer that you have never even noticed! You and your Valentine can spend the day taking pictures and discovering. Try some new places!
Don’t forget your furry friends this valentine’s day! Bake some dog treats together and take your furry loved ones to the dog park.
Volunteer together. Dedicate this Valentine’s day to helping others, whether it’s serving meals at your local food pantry, animal shelter or hanging out with senior citizens – not only does this benefit the community, it also costs nothing. Spread the love!
Remember, in the end, Valentine’s Day is really about spending time with the loved ones in your life!
While things may look and feel a bit different this year due to social distancing and spending more time at home, there are still plenty of ways to make Valentine’s Day special that show your appreciation for your loved ones. Although we may be limited to where we can go out, we learned in 2020 how to create fun ideas and special moments in our own way. Read on for ‘10 Budget Friendly (at home themed) Valentine’s Day Ideas to try this February 14th.
Have an indoor picnic. You can’t tell us this is something you do on the regular. Lay down a blanket in your living room, bring a cute basket full of your favorite finger foods and desserts, your favorite drink, and enjoy! Appreciate each other’s company by chatting, or even playing an old fashioned game of cards. Don’t forget to surround yourself with some flowers to make it feel more Valentine’s Day centric!
Movie Night. A trip to the movie theater can add up quick for the pair of tickets and snacks anyways, so why not just enjoy a recent movie release at home (or several)? Have a movie marathon at home for just a few dollars by renting a movie off of Amazon, Hulu, or Netflix, or even at your local library. Don’t forget the popcorn! Try out our favorite, easy Valentine Day themed popcorn mix.
Cook together. Open up a bottle of wine, put on your favorite music, dance around and start cooking. Pinterest can be a great spot to go for new recipes, or YouTube for online cooking classes! By dining in you’ll save money and skip the crowds. Want to make it really feel like a special date night? Dress up for your dinner. Bonus: Make your dinner at home a themed dinner. Watching 50 First Dates when accompanied by a pineapple upside down cake or watching two pups fall in love during The Lady and the Tramp while eating a plate of homemade spaghetti and meatballs is much more fun. Here are some more romantic movie menu ideas:
The Notebook: Enjoy a candlelit crab boil for two in honor of this seaside romance.
Lady and the Tramp: Share a big plate of spaghetti and meatballs, then go for a moonlit stroll with the one you love.
Sixteen Candles:Enjoy birthday cake with your crush, plus updated takes on meatloaf and “tater tots”.
Chungking Express:Two unconventional love stories inspire an Asian street-food feast with pineapple for dessert.
Julie and Julia: Enjoy the Julia’s famous Beef Bourguignon! This hearty French stew is a classic combination of wine, garlic, and onion. Serve it with boiled or roasted new potatoes.
Casablanca: Cheers your meal with some Champagne Fizz.
Goodfellas: Dinner was a big thing for the mobsters in “Goodfellas”. Enjoy a good spaghetti and meatball meal while watching this film (whether or not you slice the garlic with a razor blade is your call.)
When Harry Met Sally: Enjoy a nice salad and finish your dinner off with a Apple Pie of course! “I’d like the chef’s salad, please, with the oil and vinegar on the side and the apple pie a la mode. But I’d like the pie heated, and I don’t want the ice cream on top. I want it on the side. And I’d like strawberry instead of vanilla if you have it. If not, then no ice cream — just whipped cream, but only if it’s real. If it’s out of a can, then nothing.”
Order a carryout food feast. Skip cooking this evening all together and order out instead. Pick up dinner or get a variety of dishes from a handful of different local restaurants!
Enjoy a fancy charcuterie board! Maybe you’re not up to cooking and prefer to not order out – another fun idea is to munch on delicious meats and cheeses instead! Design a gorgeous charcuterie board and serve with a bottle of wine for the best night in! Even better? We have tips on how to build the ultimate cheeseboard on a budget here! (Make sure to add a little valentine’s day chocolate to your board!)
Create a Scavenger Hunt. This can be made into a family or couple activity. You don’t even have to leave your house (even though you can to make it more adventurous). At the end of the hunt, exchange little gifts, cards or baked goods that you’ve purchased within a pre-agreed upon budget.
Take your Valentine’s Day outdoors by ice skating, sledding or hiking. Valentine’s Day in Wisconsin is always pretty chilly. Why not use it to your advantage and bundle up to go outside with your valentine? Make sure to fill your thermos mug with a warm beverage (hot chocolate with extra whip is a great choice)!
Don’t forget your furry friends this valentine’s day! Bake some dog treats together and take your furry loved ones to the dog park or for an extra-long walk.
Volunteer together. Dedicate this Valentine’s Day to helping others. Call your local nonprofits to see how they need help. Not only does this benefit the community but it also costs nothing. Spread the love!
Remember, in the end, Valentine’s Day is really about spending time with the loved ones. Time, after all, is the most precious gift of all.
At the beginning of the new year, many people take the time to organize their living space for a fresh and clean start. However, organization supplies can get expensive! Here are a few budget friendly tips and tricks to consider when organizing your home.
General Tip: Your local dollar store may not be ideal for certain household items, but when it comes to organizing tools, it can be the perfect place to shop. You can find a good amount of options for organization, such as containers, bins, jars, vases, and more. Keep in mind if you like to shop online, dollar stores often have minimums you have to purchase, so when shopping these stores, we would recommend visiting one in person!
Recycle your empty food jars. These jars are great for storage. Start by taking your sauce, pickle, or baby food jars and take off their labels. (Lemon essential oil does a great job taking off the sticky stuff.) Use these recycled jars to hold spices in your kitchen or cotton swabs, balls and other essentials for your bathroom. If the jars have a lid that you don’t prefer, a little spray paint goes a long way.
A hanging clear shoe organizer can hold more than shoes! These shoe organizers work great for so many things – craft supplies, small toys, snacks, cleaning supplies and more. You can hang the entire organizer on the inside of a door or customize it by cutting it in half to use inside smaller cabinets or spaces.
Clear tackle boxes are very cost effective and can be used for many different things, including organizing jewelry, or even keeping batteries separated by type.
Add a pegboard and peg hooks to any wall or garage space. This turns a wall into instant storage space.
When working with deep shelves or pantries, lazy susans work great! You can spin it to see what you have which helps keep items from getting stuck in the back. (This can be used in bathrooms as well for in-cabinet or under-the-sink supplies!)
Reusing your grocery store bags is always a good idea, but they can be a pain to store. Store your extra plastic grocery bags in mailing tubes. You can get a mail tube from the post office for cheap, and they take up very small storage space.
Magazine holders can be great when it comes to kitchen supplies. Store your cutting boards, or your aluminum foil and plastic wrap in the holders so they can be tucked away nicely but accessed easily.
Keep your handheld kitchen gadgets and small appliances in their own little plastic storage baskets, along with their cords and mini attachments.
Use an old metal CD rack to keep your Tupperware lids contained, upright and easily seen.
Utilize small tension rods when it comes to storing your cleaning sprays under the sink. Hang the bottles by their handles to keep space underneath them open. Small plastic containers or caddies are perfect for grouping other cleaning products upright and from tipping.
Store your greeting cards in an expanding file folder, organized by occasion, or in an old covered shoe box with recipe cards as separators.
Don’t keep magazines once you are done reading them. Instead, rip out individual pages you’d like to refer back to and save them in a three ring binder for future reference. Organizing your binder by tabs can make it easy to find what you’re looking for.
Shower curtain rings can come in handy for a few things! Use one individual ring to keep hair ties together, or use a couple rings as a scarf, tie or belt organizer by adding the rings to a hanger.
In your front closet, mudroom or laundry room, give each family member their own basket or bin. This way everyone knows where to drop off and find their personal on-the-go essentials like keys, wallet, bags, homework, gloves and hats, etc.
Clear plastic cups work great for keeping electronic cords organized. Label the cups with what you are putting inside and store them all in a small plastic tote or basket.
Label cell phone cords with different colored washi tape so you know which family member it belongs to.
Wrapping paper and ribbon can be a pain to keep organized and store. Here are a few ideas that will help you keep the wrapping items in their place:
Organize your wrapping ribbon by putting it on a paper towel holder, or by making a very simple ribbon dispenser. To make a simple ribbon dispenser, use a cheap plastic bin with holes on the sides (you can usually find these at the dollar store), line up your ribbon in the bin and thread the ends through the holes. Pull on the ribbon as you need it, and the rest will stay nicely organized.
For your wrapping paper, store it in a clear garment bag to keep your collection contained.
Have some budget friendly organizational tips you use and like to see added to this list? Email us.
As you get older, hopes and dreams for the future begin to expand – buying a car or house, starting a family, and eventually retiring. These dreams are exciting and are something to look forward to, but they also require saving money. A financial plan helps decide what your goals are and how to effectively save for them. This includes a budget, tracking expenses, and bills, and planning for your financial life stages.
Stage One – Build a Financial Foundation
This is the financial life stage where you are generally starting your career and learning financial habits. In this stage, a household budget can shape good spending and saving habits, as well as help build a financial foundation. Building good credit is another aspect of this stage, especially if you intend to buy a car or house. This can be achieved in a few ways. Borrowing money for long-term investments and making on-time or early payments is a great way to build credit. Another way, which requires more responsibility, is by using credit cards. When using this form of borrowing money, make sure you are still living within your means.
At this point, you should start making more money than you’re spending; an automatic savings plan can help you establish a good saving pattern. Another way to create strong habits is by setting goals such as saving for a down payment or a vacation. Goals help create motivation and discipline, which are critical aspects of building strong financial habits.
This right level of insurance coverage is key in this stage. Although you may not have dependents yet, it is important to make sure you are protected if something were to prevent you from working. Another key point is to make sure you are taking advantage of your employee benefits plan. Not only will they often offer insurance, generally employers will offer a retirement plan, such as a 401K, which will help you prepare for the next financial life stages.
Stage Two – Save During Prime Earning Years
At this stage, income, as well as expenses, are rising. Expenses that come with starting a family, upgrading your home or car, or even taking family vacations can quickly consume your extra income. Taking full advantage of your employer offered retirement plans is very important during this stage. Your saving habits here will directly affect your retirement lifestyle capabilities. Contribute as much as you can, or at least enough to get the full employer matching contribution. The earlier you start investing, the more time your money will grow.
If you plan on starting a family, start saving for college expenses early. Consider opening and contributing to Education IRAs, or a similar college fund account. These come with tax advantages, where a normal savings account would not. When choosing which plans to invest in, make sure the plan follows your timelines, whether it be for college tuition or retirement plans.
Insurance is still imperative to keep up to date as your family and needs have grown. Make sure your family is protected if something unexpected were to happen to you. Another way to protect your family, as well as ensure your wishes are carried out, is by creating an estate plan. Also, this provides peace of mind as you head into the third stage of your financial life.
Stage Three – Nearing or During Retirement
Preparing for and enjoying retirement is the third financial life stage. This is where you get to reap the rewards of your hard work and saving habits. Enjoy these years and everything they entail. For some, children and grandchildren can be the most rewarding part, especially if you are able to help them start planning for their goals. You worked hard to reach this point and you are entitled to enjoy it. However, there are some matters to be aware of.
Having proper insurance is still critical, as health gets harder to predict. Generally, people are starting to live longer, but that also comes with increasing costs. Another issue to be aware of is keeping your estate plan up to date. Any living arrangement, family, or income changes should cause you to review your plan. Any time you talk with a financial adviser, make sure you trust them and can understand their recommendations. Wise investing is important at any stage, so make sure you understand where you are putting your money and that it makes sense for you. Lastly, make sure to enjoy this stage, you’ve certainly earned it!
Bank Five Nine works with trustworthy financial advisors and offers many different services to fit your financial life stage needs. If you have any questions, feel free to contact Bank Five Nine!
Good financial habits may take years to develop but being responsible in your spending is worth the effort. Protect your financial future by saving early, living within your means, and following some of these tips we’ve compiled for you.
Live Within Or Beneath Your Means
This is the foundation of all good financial habits. When you spend less than you take in, you are going to retain more money and build up your savings faster. This will help with budgeting and saving for future goals. One easy way to spend less is by cutting back on restaurant meals; start buying groceries and planning meals. You’ll be surprised to see how much money you save. Another tip is to use the 72 Hour Rule to better control your impulse buying. If you see something you don’t know if you want or need, wait 72 hours; if it’s still on your mind and it’s within your budget, allow yourself to get it. Making small spending cuts here and there will make a huge difference in the long run.
Pay Bills Wisely
As soon as you receive a bill or statement, review it to identify and correct any potential errors. Although errors don’t happen often, it’s better to be ahead of any potential issues rather than waiting until the last minute. Also, upon receipt, make a note of the due date and attempt to pay it at least a week in advance. Not only will this habit improve your credit score, but it will also relieve some monthly stress. Another way to be wise with bills is to pay more than the minimum balance on debt payments if you can afford to do so. This will reduce the interest accrued and help you pay down debt faster. When you develop good financial habits, the road to being debt-free seems more achievable and monthly bills aren’t nearly as stressful.
Build An Emergency Fund
Unexpected expenses, like a car repair or medical expense, come at the most inconvenient times. Be prepared by setting up a savings account that you deposit a little bit of each paycheck into. Once money starts building up, don’t withdraw for anything other than an emergency. Generally, you want to have three to six months’ worth of living expenses, just in case you can’t work. Whenever you take money out, or at the very least once a year, replenish the account. Next time there is an emergency expense, you won’t have to worry about how to pay for it.
Create A Household Budget
A budget is a wonderful tool for many reasons. First, it puts a tangible number to how much you can spend on certain things, as well as define areas you should cut back on. Next, a budget makes it easier to save for specific goals, such as a vacation or a new house. When you build a goal into a budget, you can set money aside, guilt-free, and just watch it grow. You should not touch this money for anything else other than an emergency; you’ll reach your goal faster. Lastly, a budget allows you to track exactly where your money is going. Use your budget to reconcile your checkbook at the end of each month to make sure you aren’t bouncing checks. Also, use it to make sure there aren’t any mistakes in your account statements. Budgeting leads to better organization and financial clarity, as well as better spending habits.
Set Your Paycheck To Direct Deposit
Not only is direct deposit safer than carrying around a paycheck, but it’s also faster because you avoid making an extra trip to your bank. The concept “out of sight, out of mind” applies as another reason direct depositing checks is safer. If you aren’t physically seeing your paycheck, you almost forget about the sudden influx of cash and avoid a payday splurge. Direct deposit makes sticking to a budget easier because you can plan based on how much you know is going to be added to your account and when. Being able to split up to which accounts your paycheck goes to is yet another benefit. This is the best way to build up your savings and emergency fund because the money automatically gets deposited.
Open An Automated Retirement Plan
You are never too young to start saving for retirement. The sooner you start, the more money you will have to complete your goals during your golden years. A lot of times, retirement plans through your work include some level of matching; we recommend starting to contribute as soon as you are eligible. If your employer doesn’t offer a retirement plan, there are other individual savings accounts you can start, such as an IRA. Each account will accrue interest, so the earlier you start, the more your money will grow and the more achievable your financial goals will be. You are never too young to start saving for retirement. The sooner you start, the more money you will have to complete your goals during your golden years. A lot of times, retirement plans through your work include some level of matching; we recommend starting to contribute as soon as you are eligible. If your employer doesn’t offer a retirement plan, there are other individual savings accounts you can start, such as an IRA. Each account will accrue interest, so the earlier you start, the more your money will grow and the more achievable your financial goals will be.
Be Sensitive To Fees
Sometimes fees are so small, you don’t even notice; however, they can pile up very quickly. An area that fees can catch you off guard is within your bank accounts. Some accounts have minimum balances you must maintain, or a limit of transactions you can complete in a certain amount of time. Be mindful of these and be very careful to not overdraft your account. Those fees will pile up, and you’ll be out a significant amount of money, depending on the situation. Another situation fees can surprise you is when you choose an ATM. Some charge a substantial fee, so consider going a little farther, especially if you’re making a small withdrawal. You might even find a No-Fee ATM. Unfortunately, there are some fees that cannot be avoided, such as a monthly maintenance fee, so make sure you are aware of and prepared for them.
Avoid Using Credit Cards
Credit cards are one of the top sources of consumer debt in the United States. They are so easy to use and easy to abuse. However, they can be used to build credit if used responsibly. Limit the number of times you use a credit card, maybe even save it for emergencies only. Whenever you do use it, make sure you can pay it off right away. This helps improve your credit score, as well as makes sure you are still living within your means. If you can avoid a balance on your card, interest won’t accrue, and you won’t have to worry about paying minimum balances. Not using credit cards will prevent you from spending more than you can afford. Credit cards are great tools but require strong financial habits in order to keep spending from getting out of hand.
Use Our Financial Education Center
Bank Five Nine can help you learn more about handling your finances. The more you know, the easier handling your finances will seem. Our Financial Education Center is designed to help answer questions and provide you with the tools you need to make informed decisions when it comes to your banking and your future. Please peruse our financial basics and product demos to get a better sense of how the financial world works for you. Learn more in our Financial Education Center here.
Your habit of a morning coffee may be a good start to your day. A few good financial habits can be the start of a good financial life. Your habit of a morning coffee may be a good start to your day. A few good financial habits can be the start of a good financial life. Contact Bank Five Nine to help you get started!
Selling your house can be daunting for many reasons. Making sure the home you’ve gotten used to ready to sell while trying to get everything packed up is emotional and stressful. We’ve come up with some tips and tricks to help make the transition a little easier and make your home more appealing to potential buyers.
Make A Good First Impression
When potential buyers pull up to the house, curb appeal is the first impression they will have. Clean surroundings and maintained lawns are what people are looking for. Make a great first impression by patching up dead spots in the yard, picking up any debris, and trimming your trees and bushes. Another helpful idea is to pressure wash your siding, front porch, and driveway to clean any dirt or mildew build up. Freshly painting your front door and shutters can help spruce up the entry and make buyers feel more welcome. During the winter, it is very important to clear the driveway and walkways of snow and ice. If you are selling during the summer, some brightly colored flowerpots will make potential buyers feel more at home. Each of these tips will help create a positive first impression and will give the buyers something to remember during and after touring the rest of the property.
Clean & Organize
Making sure your home is always show-ready when preparing to move may seem impossible. However, storage units can be a lifesaver; they allow you to focus on cleaning without worrying about potential buyers seeing all your boxes. Make the organization easier by removing half of the items in your closets and put them in storage. Neatly organize what’s left so potential buyers see storage possibilities rather than storage limitations and clutter.
Other tips for cleanliness and organization include removing overly personalized items. Although it was your home, you want potential buyers to be able to see themselves making their own home and all their personalization opportunities. Take pictures down and put away monogrammed items. Remove wallpaper, especially if it’s peeling or outdated, and consider painting that area a neutral color. Buyers are looking for a home with the potential to make it their own.
If you have pets, you should make plans to have them stay with a family member or friend during the time your house is being shown. Pets are a personalized part of your home, and you want potential buyers to see themselves living there, with or without their own pets. Animals are wonderful companions but can hinder the home selling process. You will want to remove all traces of animals – hair, stains, and odors – because not everyone likes pets, and any stains or odors can be off-putting.
Fix The Small Things
The broken cabinet handle, the chipped molding, the stained rug: all these issues may have faded into the background for you, but potential buyers are going to notice them right away. When selling your house, you don’t want buyers seeing everything they’d have to fix, but rather the ease of getting settled. Cleaning stains and fabrics will go a long way, as will mopping or polishing your floors. Replace outdated or broken cabinet hardware to refresh their look without replacing the cabinets themselves. Maybe even consider repainting or refinishing them. Another idea is to paint or replace moldings that are faded or chipped. Each of these inexpensive fixes will draw attention away from the buyer’s “To Be Fixed” list to the feeling of being excited to move in.
Bathrooms & Kitchens Sell Houses
Bathrooms and kitchens are one of the main selling points of a house. This means these rooms should be the main cleaning focal point. Organize any storage space, your pantry, even your fridge. Deep clean everything down to the grout. Make sure counters are clutter-free and all displayed appliances are clean. If you have some budget wiggle room, the bathroom or kitchen is a great place to consider an update. Getting a new appliance gives the appearance that other appliances are worth more or are newer too. Updates don’t need to be as big as installing a new oven or dishwasher; they can be as easy as redoing the backsplash behind your sink or buying a new light fixture. Put a little extra effort into these rooms when cleaning because this is where potential buyers will pay the most attention.
The Importance Of Good Lighting
After bathrooms and kitchens, buyers tend to care about how good the lighting is. Let as much natural light in as you can by cleaning windows and opening curtains. If you don’t have much natural light, use halogen lightbulbs or bulbs with higher wattages to create the effect of natural light. Outdated fixtures can make buyers feel like they’re stepping back in time, so consider updating them to a more modern look. Good lighting helps make a room feel larger and more inviting while enhancing the other features of the house. Lastly, exterior light is just as important as interior lighting. Motion lights or bright fixtures next to the entrances are an easy way to make buyers feel more confident in the safety of the house.
Neutral Colors Add Value
Everyone has a different sense of style or color preference, and everyone likes to add their own personal touch to their home. Painting any brightly colored rooms a neutral color, such as a light beige or earth tone, lets potential buyers see more decorating opportunities than limitations. Neutral colors also make the home feel more move-in ready rather than adding to their To-Do list. Even if you can only get to one room, the added value is worthwhile.
Hire An Inspector Before They Do
Interested buyers will most likely hire an inspector to make sure there aren’t any major issues, and to be made aware of the minor ones. Be preemptive and have an inspector look at your house for potential problems. This helps you either fix problems before the buyer sees them or be able to tell the buyer about it before their inspector does.
Hopefully these tips give you some ideas on where to start and help ease the stress of moving. When selling and purchasing a house, keep Bank Five Nine in mind for financial assistance, such as mortgages. Contact us with any questions, our dedicated staff is ready to help!
The holiday season is right around the corner, a time for festivities, cheer, and reunions with family and friends. But as we deck the halls or spin the dreidel, many of us will have something else on our mind: money. In fact, more than three in four Americans overspend during the holiday season, with the average household adding nearly $1,000 in debt. While it may seem like a fact of life, going into gift-purchase debt is not inevitable. In this blog, we’ll offer four key tips to stress-free holiday spending, allowing you to devote yourself to some worry-free celebrating.
A good rule of thumb from financial advisors is to spend no more than 1.5 percent of your annual income on holiday expenses. If you earn $65,000 a year, for example, your holiday budget should top out at $975. Once you’ve established your maximum, you can then then make a list of potential spending – on gifts, food, entertaining, travel – and see what might need to be modified or cut.
To prevent yourself from scrambling to save right before the holidays, it’s a good idea to establish a holiday fund ahead of time. For instance, if you start at the beginning of the year and tuck away 10 percent of your budget each month, you’ll roll into the holidays with the money you need and a spending limit to keep you in check.
Need to brush up on your budgeting skills? We’ve got you covered with our budgeting module! Click here.
2. Be Smart with Credit
When used wisely, credit cards can be your friend: many of them offer special offers like reward points and travel miles, leveraging your everyday purchases to bring that perfect gift or special holiday trip within reach. And with purchase protection, you’ll be protected for losses in a way you may not be if you pay in cash. So how to enjoy the benefits of credit cards without the dangers? First, choose a credit card that allows you to repay purchases over time, without interest. Second, make sure you pay the balance due in full and on time – every single month.
If your finances don’t allow you to buy everyone on your list a gift, be honest with yourself about it. There are plenty of other ways to show people that you care: by spending time with them, sharing a plate of cookies or treats, making your own gifts, or choosing a small, personalized present instead of a larger, expensive one. Another popular idea is getting everyone in your circle of family or friends to draw one name to give a gift to, with the recipient having to guess who their gift-giver was. Getting creative helps you spread holiday cheer without inadvertently bouncing checks or racking up overdraft fees, which could hurt your ability to obtain credit from your bank in the future, or even, if left unattended, reduce your overall credit score.
With each passing year, more holiday shoppers opt to avoid the lines and crowds by purchasing their gifts online. But however convenient and comfortable, online shopping is not risk-free: according to a study by Javelin Strategy and Research, 16.7 million US customers were the victims of identity fraud in 2017, with a total of $16.8 billion stolen. Fortunately, there are some basic steps you can take to protect your information, such as monitoring your accounts, securing your devices, and placing security freezes on your credit reports. And, of course, if you are the victim of identity theft, it is important to respond rapidly.
Learn how to keep yourself data safe with our short identity protection video by clicking here.
In today’s world, holiday stress might feel as American as apple pie – but it doesn’t have to! With a budget, a holiday spending fund, smart use of credit, honest limits, and protected information, you can make your holiday season more like a Hallmark special and less like National Lampoon’s Christmas Vacation.To find out more about stress-free holiday shopping and about smart finances in general, check out our online financial education program here. Our Financial Education Centre is designed to help answer questions and provide you with the tools you need to make informed decisions when it comes to your banking and your future. Please peruse our financial basics and product demos to get a better sense of how the financial world works for you!
This article was developed in part by EVERFI, Inc., a resource of Bank Five Nine.
Read on for our budget friendly winter date night ideas to try during this chilly season with a friend or significant other.
Dine in & cook together. Put on your favorite music, dance around and start cooking. Make it a DIY Pizza Night or Pinterest can be a great spot to go for a new recipes. Another idea is to try YouTube for online cooking classes! By dining in you’ll save money and skip the crowds. Want to make it really feel like a special date night? Dress up for your dinner!
Cozy up to the fireplace together and accompany it with some snacks and a card game. Don’t have a fireplace? Replicate the peacefulness of an old-fashioned, wood-burning fireplace by searching “Fireplace for Your Home” on Netflix.
Try indoor rock climbing. Find a local gym and try out climbing for a day. The average cost for a typical climb at an indoor climbing gym, is around $15 for a session.
Host your own paint and sip at home. Most craft stores have inexpensive canvas sets.
Buy a set, some paint and brushes and enjoy your own paint and sip night.
Volunteer together. Whether it’s serving meals at your local food pantry, animal shelter or hanging out with senior citizens – not only does this benefit the community; it also costs nothing.
Peruse through an antique store and find a new vintage ornament to hang this year. Bonus: It will forever remind you of the fun you had on the date.
Play a classic board game in a local coffee shop.
Go on a Groupon date. If you have nothing to do one night and you’re looking for something new to try, login to Groupon and see what you find in your area!
Bowling! Who doesn’t love a little healthy competition? You’ll find that costs generally vary depending on day of the week and time of day. Weekdays before 4 p.m. are cheapest and weekend evenings the most expensive. (Remember to check Groupon to see if there is a bowling alley with a discount in your area.)
Laugh together at a comedy show. Make it even more budget friendly by finding a standup comedy show on your TV at home and enjoy it with some popcorn.
Make a cocktail (or “mocktail”) creation. Hop on over to Pinterest and gather some festive winter recipes and put all those bottles that are sitting in your cabinet to use. While you’re on Pinterest, make sure to check out the Bank Five Nine Pinterest page!
Do a winter activity! Go cross country skiing, sledding, or ice skating.
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