Money Matters: Protect yourself from Card Cracking

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One new scam that is on the rise is card cracking. Learn more about how to protect yourself from it.

What is card cracking?

  • Online scam designed to steal banking information

What are methods of card cracking?

  • Fake Contests
  • Easy Cash Schemes
  • Fake Social Media Accounts

How do you avoid these scams?

  • Never give out your PIN or account number
  • Make sure business is legitimate
  • Stay alert on social media
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Money Matters: 401K Options for Small Businesses

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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.
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Money Matters: Identity Theft Prevention

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Over a billion financial records fall victim to identity theft every year.
How do you protect your identity?

  • Be careful when giving out your information
  • Shred sensitive documents
  • Monitor your financial activity

How can you monitor your activity? 

  • Southern Bank app alerts will notify you for:
    • Credit or debit card usage
    • Bill payments
    • Account withdrawals

What happens when you identity is already stolen? 

  • Southern bank offers:
    • Free identity theft coverage
    • Fraud specialists
    • Identity monitoring
    • Identity restoration
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Money Matters: Tips on Mortgages with Taylor Harrell

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  • What should you consider? 
    • Monthly Income 
    • Down payment 
    • Monthly payment 
    • Payback period 
    • Current level of debt 
  • What are some mortgage tips? 
    • Payments should be less than 25% of your monthly income 
    • Total monthly payments should be less than 40% of monthly income 
    • Put down 20% to reduce payments 
    • Ask about 15 to 20 year loans because these reduce interest in the long-run. 
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Money Matters: Home Improvement Loans

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Today, a lot of people are choosing to stay in their present home rather than buying something new. That often leads to home improvement.

What is considered as home improvements projects?

  • HVAC units
  • Roofing
  • Kitchen and bathroom remodeling
  • Great room renovations and garages

What are the different financing options?

  • Savings plans
  • Home equity lines
  • Home improvement loans
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Stress Less with Holiday Tips from Southern Bank

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It’s normal to stress out during the holidays, but Southern Bank wants to take one thing off your plate: money worries.

The winter holidays will soon be here with the promise of good cheer and good times. Unfortunately, they’re also ticking time bombs in terms of stress. From family issues to gift choices, the holiday season can take its toll. Banking doesn’t have to add to the anxiety. Southern Bank brings you peace of mind with these ...

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How to Plan for Christmas Early

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Shopping for the holidays can be a hectic time. Begin early and be prepared for when December rolls around with the help of Southern Bank.

After the holiday rush, many of us suffer from sticker shock. From ingredients for holiday meals to seemingly endless gift lists, the costs can be staggering. Whether you dip into your savings or worse, rack up credit-card debt, the holiday season can really damage your finances. From switching up your banking practices ...

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