A Married Couple’s Guide to Finances

Congratulations on your engagement and wedding! Whether you are recently engaged or have already tied the knot, talking about finances is extremely important in order to set you both up for success. Exchange Bank of Northeast Missouri wants to offer a married couple’s guide to finances, so you can live happily ever after.  How will bills be split?  There are many day-to-day and monthly expenses that arise. You’ll want to talk about how these will be shared so both
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The housing market is ideal for both buyers and sellers at this time of year. Things are moving quickly so in order to sell your home fast, you need to be ready to move and groove! We’ve created this blog with tips and helpful advice on how you can sell your home fast.  Choose FSBO or Realtor  Choose if you will be selling the home yourself (for sale by owner) or if you will be using a realtor. The realtor knows the process and can get things rolling – they
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With bills, insurance, monthly expenses, retirement and more, how is there anything left to save? And if there is any money left, what do you save for and how much should you be putting away? We’re here to help answer these questions! Here is how much you should save every month.  50/30/20 Rule  You may see a lot of recommendations for saving 20% of your income every month. According to the popular 50/30/20 rule, you should reserve 50% of your budget for essentials like food
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If you can’t seem to get a handle on your finances, it may be time to reevaluate your spending and learn to budget. Budgeting is essential for those looking to be financially successful. You need to know where your money is going and make sure that it makes sense. Here are our tips on how to take control of your finances with a budget.  Look at your overall monthly expenses.  You will want to review what you are spending money on each month. Add up your
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It’s an unfortunate reality that many criminals target senior citizens, as they can be susceptible to online deception. If you’re keeping up with the times by staying online, it’s also important to keep up with online security measures!   1. Look Out for Suspicious Emails  You would be surprised how often people are fooled by phishing emails. ‘Phishing’ emails are sent from cybercriminals who pretend to be a person or business they are
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Saving money over time is often one of the hardest things for a household to do. Between monthly bills, household essentials and daycare, you may ask yourself, ‘is there even anything left to save?’ If this sounds like you, read these tips to increase your savings game over time!  Stick to Your Monthly Budget  Sticking to a budget is a simple concept, but in reality, it can be very difficult. Try to plan your expenses a month in advance so
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Have you recently fallen off the budget wagon? Have no fear, Exchange Bank of Northeast Missouri is here to help! Creating a budget is one thing but sticking to it is often hard. If you’re someone who struggles with sticking to a budget, read these tips to get back on track.  Total Your Monthly Bills  If it’s been a while since you last followed a monthly budget, it’s a good idea to double check your monthly bills. Take a look at your monthly
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With rates continuing to be low, now is a great time to purchase a home! It may seem daunting at first, but it’s a great experience and can be fun if you are prepared. Whether you are a first-time homebuyer or have purchased a home before, keep reading to see how much money you need to buy a home.  You may not need the full loan amount offered.  While you can get a loan for a large amount of money, you may not want to get that full amount. Think about all
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Being prepared for a financial crisis or hiccup can take time. Building up your emergency fund isn’t something you can do overnight, but working at it day by day or month by month is an easy way to become prepared without seeing a huge decrease in your funds. But how much is enough? We’re here to let you know!  How much should I save for an emergency fund?  How much you can save will depend on where you are at in life. You will have debts, monthly expenses, insurance,
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Nerdwallet states, “A financial plan is a comprehensive picture of your current finances, your financial goals and any strategies you've set to achieve those goals. Good financial planning should include details about your cash flow, savings, debt, investments, insurance and any other elements of your financial life.” But where do you start? We’re here to help give you the basics of financial planning so you can begin bettering your financial future.  What
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