Hey! Let’s talk about how to avoid overdraft fees.

Did you know that you could overdraft your account, even though you have recently made a deposit?

Posting order is the sequence in which a bank processes your transactions. The transactions you make may not post to your account in the order in which you make them, and they may not affect your balance right away.

This includes depositing a check. If you put it into your account after the cutoff hours, the check ...

Hey! Let’s talk about something fundamental, like living within your means.

Living within your means may be the most important financial habit. If you live within your means, your monthly expenses will not be more than your net monthly income.

There are three steps you can take to see if you’re living within your means.

Step 1. Record everything you spend your money on over the course of a month to get a picture of your spending habits.

Step 2. Add up all of ...

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 ...

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

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 ...

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

What’s the best way to plan for retirement?

• Start Now
• Plan Your Goals
• Work Towards Your Goals
• Estimate Your Needs
• Plan Your Savings
• Take Advantage of Your Options
• Manage Your Accounts
• Review Your Accounts

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.

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.