Money Matters: Why Get Insurance

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Hey! Do you ever wonder why you need insurance?

You might think it’s to protect your stuff, but actually it’s to protect your family.

Insurance is a contract made between you and the insurance company that protects you, as well as your family, from unexpected emergencies or losses.

Some forms of insurance are required by law, while others are optional.

Insurance may seem like an extra expense at first, as you have to pay a monthly premium for the policy, but long term it ...

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Money Matters: Budget Bubbles

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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 on your target budget (red).

The Budget Bubble tool is handy since you ...

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Money Matters: Credit vs. Debit

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Hey. Do you know the difference between a credit card and a debit card?

When you use a credit card, it basically means you’re taking a loan from your bank. If you pay the full amount each month on time, there is no extra cost. But if you only pay part of the balance, it can get very expensive. You’ll be charged interest, and if you’re late, there could be penalties as well.

A debit card, on the other hand, takes the ...

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Money Matters: Person to Person Payments with Taylor Harrell

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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 ...
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Money Matters: Debit Cards with Taylor Harrell

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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. ...
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Financial Education for College Students: Why It’s Important

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When you send your student off to college, it is important that they have a good financial foundation. Financial education for college students gives them the ability to properly make important decisions based on their finances. College is often the first time that a budding adult has to make daily financial decisions, and it’s absolutely essential that they feel prepared.

Why is financial literacy so important for college students? Because college is often the first time these students are on their ...

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4 Simple Financial Fitness Activities that Parents & Students Can Do at Home

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With COVID-19 driving widespread closures of our nation’s schools, many parents are facing new obstacles that they hadn’t anticipated. While this looks different for everyone, many families are now challenged to deliver remote learning instruction to their children or keep kids occupied while juggling the demands of their job.

As the novelty of this “new normal” wears off, you may be starting to hear, “What are we doing today?” or the dreaded, “I’m bored.” Maybe you’re on ...

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