Hey! How can a snowball help you become debt free?
If you’re using credit cards to finance your way of life and not paying off the balance each month, you’re probably paying a lot in interest and penalties.
For instance, paying the $25 minimum on a $1,000 balance will take over four years to pay off and could cost you over $300 in interest alone. So it’s in your best interest to pay that balance off as quickly as possible.
Hey! Did you know that budgeting doesn’t have to be painful?
Fact is, it could actually be fun!
Southern Bank offers the Budget Bubble tool in online banking. It shows where your money is going and allows you to set up your own categories. Next you assign a goal for each category. Then the tool automatically shows you when you are on target (green), close to your target (yellow), or over your target budget (red).
Hey! Do you know about the benefits of a mobile wallet?
Most smartphones today have access to a mobile wallet, which virtually stores payment card information, including credit cards, prepaid cards and checking accounts.
They can be used for both in-person and online purchases. To use the wallet to pay at a store, all you have to do is hold it near the payment machine and either type in your PIN number or approve it on your phone.
Hey! If you need help deciding which small business credit card to get, here are three tips to make sure you’re getting the one that fits your business:
Review your business’s spending habits. If you pay back in full every month, it may be more beneficial to find a card with big rewards. If you carry balances from month to month, it might be better to get a card with a 0% APR period or low ongoing interest charges.
(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, we hear a lot of the term about “tax brackets,” but how do they actually work?
(Justin) That’s exactly right, and, you know, I don’t know if anybody really knows. I’m kidding with that! It can be complicated, but, like I always say, have a trusted advisor. You can find these tax brackets, marginal tax brackets, out on the irs.gov. The more you earn, the higher your marginal tax ...