Hey! Thinking about saving for the future? Here are three alternatives to a traditional savings account:

1. A Money Market Account is a savings account with check-writing capabilities. They tend to feature higher interest rates than standard savings accounts and may require a higher minimum balance.
2. A Certificate of Deposit is a deposit held for a specific amount of time. The financial institution pays interest to the holder during that time period. They tend to have higher interest rates than savings accounts, but ...

Hey! When starting your own business, one of the most important things to consider is the finances. Not just what you earn or how you spend the money, but also where the funding for your business will come from.

When it comes to business funding, there are two main types: debt funding and equity funding.

Debt funding is, essentially, a traditional loan with interest. This type of funding allows for quick capital access, but the loan will have to be repaid regardless ...

Hey! Did you know that stress from money management is one of the biggest causes of things like employee turnover, absenteeism, accidents, disengagement, and poor performance?

The good news is there are a variety of financial education tools for employers to offer to employees.

One of these is the Southern@Work Financial Wellness Program through Southern Bank.

This program provides a customizable financial education plan for your employees and includes a suite of financial benefits and in-person training.

The goal with this program is to ...

Hey! If you’re on the hunt for a financial advisor, here are some tips to keep in mind.

Number 1. Pick one that fits your style. Online advising services tend to offer simplified, cheaper investment management, whereas traditional advisors have passed a certification and may have a focused specialty. They are typically more expensive but provide a more comprehensive financial plan.

Number 2. Review your needs. A customized financial plan is very helpful, especially if you have a complicated financial situation or ...

Hey! While there are a lot of ways to pay bills these days, it’s important to understand how to use checks as a payment option.

A checking account allows you to make deposits and withdraw money to make payments. In exchange for greater access than accounts such as savings or investment, checking accounts tend to offer lower interest rates or returns on your deposits.

One way to withdraw your money from an account is by writing a check. The amount on the ...

Hey! As you transition from living on a college budget to getting your first real paychecks, here are some tips to help you manage your income while paying down debt.

1. Create a simple budget. Give every dollar a purpose. The 50/30/20 approach is always a great starting point and can help you get a better picture of where your money’s going.
2. Prioritize: Step 1, emergency savings. Step 2, 401(k) contributions. Step 3, debt. Step 4, retirement savings. Step 5, long-term emergency fund.
3. Understand ...

Hey! If you’re thinking about buying a home, here are four factors to consider:

Number 1: The long-term value. Typically, homes are appreciating assets, which means the value usually goes up the longer you own it.

Number 2: Payments. A portion of your monthly payment goes to your original loan and toward owning the home. The balance goes to interest. The larger the down payment, the more the original loan or principal will be covered with your payment.

Number 3: Taxes. Bad news: ...

Hey! Did you know your marital status can have a big impact on your Social Security benefits?

If you’re married, you may have the option to receive the greater of your own benefits or up to half of your spouse’s Social Security benefits.

If you’re divorced and the marriage lasted for at least 10 years, you may still be able to receive either the greater of your own benefits or half of your ex-spouse’s benefit.

Widows and widowers are entitled to collect Survivors ...

Hey! If your business has at least a year of history and revenue, you may qualify for a small-business loan. Here are three types of small business loans:

1. The SBA loan program works with banks to offer low interest rates and long-term repayments. This loan is good for large investments such as purchasing real estate or equipment.
2. A business term loan is up to $500,000 and can have a short-term repayment plan of 6 to 12 months or a long-term loan plan ...

Hey! If you’re in your 20s, don’t underestimate how valuable it is to start saving money for retirement now. It’s never too late to start saving, but people in their 20s are at the prime age to maximize the benefits of time, including capitalizing on compounding interest.

Here are 4 tips to help you start growing your money in your 20s.

1. Employers. Some employers offer to match 401ks. If possible, put in the maximum amount to get the maximum out of your ...