Money Matters: Person to Person Payments with Taylor Harrell

Posted by:

For many people, the smartphone is becoming their wallet. You don’t have to carry cash, cards or checks anymore. You can use your phone to send money from just about anywhere.

How does it work?

  • All you need is the Southern Bank mobile app and the person’s phone number. It doesn’t matter which bank they use; you can send them a payment instantly.

Is there a fee involved?

  • At Southern Bank, there is no fee. Person-to-person payments are free for both the sender ...
Continue Reading →
0

Money Matters: First Home Loans with Taylor Harrell

Posted by:

What are the first steps we should take when we look at buying our first home?

  • Contact Your Lender
  • Find Out What You Qualify For
  • Set Aside Funds

What documentation do we need to apply for a loan?

  • Two Most Recent Pay Stubs
  • Last Two W2s and Tax Returns
  • Most Recent Bank Statement

What’s Next? Ask yourself…

  • Why Buy a Home?
  • What Is Your Goal?
  • How Does Owning a Home Affect Your Goal?

What’s the key piece of advice you have for a first-time buyer?

  • Knowing what you want and what you can ...
Continue Reading →
0

Money Matters: Home Improvement Loans with Taylor Harrell

Posted by:

What is a home improvement loan?

  • A short-term loan for a specific project. Examples include:
    • New Roof
    • Addition
    • Remodeling
    • New Kitchen
    • Garage
    • New Floors

What are the advantages of a home improvement loan?

Short-term loan rates are usually much lower than credit card rates, so it can save you money.

When are loans tax deductible?

  • Main Residence
  • Improvements Increase Value
  • Improvements Provide New Uses
Continue Reading →
0

Money Matters: Financial Planning with Steve Kocen

Posted by:

A financial plan can be very helpful in creating a clear financial picture.

Financial Planners help with…

  • Insurance
  • Long-Term and Short-Term Debt
  • Retirement Planning
  • Investments

Where do we start?

  • Look for a planner with experience in your area of interest.

What is an “area of interest?”

  • Someone who can help you create a plan based on where you are now and where you want to be in the future.

Where can I find more information?

  • You can view the records of any financial planner on FINRA.org. You can also consult your ...
Continue Reading →
0

Money Matters: Debit Cards with Taylor Harrell

Posted by:

If you think your debit card has been lost or stolen, you’ll want to deactivate it immediately. With the Southern Bank mobile app, it’s as easy as swiping your finger to disable the card and prevent any unauthorized transactions.

So I don’t have to call the bank?

  • Correct. Even if it’s a night or the weekend, you do not have to worry.

What if the card is just misplaced and we find it again later?

  • Turning the card back on is just as easy. ...
Continue Reading →
0

Money Matters: New Reality of a Home Equity Loan

Posted by:

How are home equity loans now different from those in the past?

  • Home rates, in general, are lower, which is a benefit, but home values have also declined, so you may be limited in how much money you can borrow.

What factors should be considered when thinking about a home equity loan?

  • Impact on Retirement Planning
  • Impact on Home Value
  • Quality of Investment
  • Necessity of Investment
  • Credit or Loan Alternatives
Continue Reading →
0

Money Matters: Starting a Business

Posted by:

Planning is everything when it comes to starting a successful business.

How do you begin? 

  • Create a detailed business plan:
    • First 3-5 years
    • Cash Flow Analysis
    • Capital Needs

What’s next? 

  •  Form a Dream Team.
    • Lawyer
    • Accounting Firm
    • Bank

They can help you with…

  • Best Business Structure
  • Permits
  • Licenses
  • Registrations
  • Tax ID Numbers

You can also get advice and pointers from the Small Business Administration’s online learning center.

Continue Reading →
0

Money Matters: 401K Options for Small Businesses

Posted by:

There are two affordable 401K options for small businesses.

  • SEP – Simplified Employee Pension Plan
  • SIMPLE Plan

How do these work like a 401K?

  • Employees contribute to their retirement
  • Employers can match the contribution
  • Employees can choose investment options

Can they still choose from stocks, bonds, money market funds, and mutual funds?

  • Yes; they can mix and match to meet their personal investment objectives and their risk tolerance.

When should you start saving for retirement?

  • It’s never too soon to start saving.
Continue Reading →
0
Page 1 of 2 12
Font Resize
Contrast