Borrowing only works if you can afford it. Here’s how to borrow smart.

Posted on Jan 19, 2015 in Building Blocks, Managing Your Money |

Borrowing money makes sense only when you can afford it. Getting a large sum of money is often necessary to purchase a car, fund a college education, purchase a home or expand a business. But your credit history, cash management skills and other factors are used to determine if you can afford to repay that loan. So be careful to build up a history of financial responsibility. Here are some tips to keep your credit history strong, and help prove...

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“Spending Wisely” isn’t just a slogan. You gotta do it. Here’s how.

Posted on Nov 14, 2014 in Building Blocks, Managing Your Money, Peoples Bank News, Spending Tips |

“Economy does not lie in sparing money, but in spending it wisely.” Wise people will tell you that Thomas Henry Huxley had that much right, anyway. Spending wisely is a critical part of financial success. But how does one actually go about “spending wisely”? Money is a useful instrument, a tool. Like any tool, the better you use it, the more effective it is. To spend money wisely, spend it according to a plan. Think about what you need and what...

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Be In Charge of Your Credit Cards

Posted on Jun 12, 2014 in Managing Your Money, Peoples Bank News |

Ever noticed how some people seem to manage their credit cards better than others? Perhaps that’s because managing credit cards starts before you even open the credit account. Any purchase that is made with a credit card is a loan. It must be repaid. And as with any loan, the payment terms are very important considerations. As important as it is to use credit cards wisely, it is very important to choose a credit card that meets your needs...

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Pay Yourself

Posted on May 27, 2014 in Building Blocks, Investing, Managing Your Money |

The actor Michael Caine is quoted as saying “Save your money. You will need twice as much in your old age as you think.” His advice rings true. The cost of things are rising rapidly, often to suit Wall Street (pun intended), and one shouldn’t expect that to stop. It’s out of our hands. However, there are two means to overcome the problem of escalating prices that you can do something about: save your money, and make it work harder by investing...

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Medical Expenses and Tax-Preferred Savings

Posted on Apr 24, 2014 in Financial Planning, Managing Your Money, Products and Services |

By now everybody knows about tax-preferred Individual Retirement Accounts (IRA), but do you know about a similar account to help pay for certain medical expenses? It’s called a Health Savings Account (HSA). Your community bank wants to help, and can provide more information. Here are the basics: If you are enrolled in only one health insurance plan and it has a high deductible, you probably are eligible to open an HSA. Help you avoid the shock...

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