Budgeting

It’s the question that every household asks. What can I do to cut my monthly costs? And it’s a great question! No one wants to spend unnecessary money when there are mouths to feed and basketball uniforms to pay for. While you can tighten the budget by setting strict guidelines for yourself, your experts here at Exchange Bank of Northeast Missouri have a few more realistic ways to lower monthly bills.  Plan Meals Ahead of Time  At first glance, planning meals ahead Read More

Creating a basic monthly budget is simple, but breaking it down into categories and deciding what you should and shouldn’t spend money on can get tricky. That’s where the idea of wants vs needs comes into play, and it’s one of the most important steps in budgeting. Struggling to figure out what the difference is? We’ll explain!  The Overall Difference Between Wants VS Needs  Financial needs include purchases that are required or absolutely Read More

During 2021, we want everyone to focus on a few ways to enhance their life and habits. Financially, you are always able to make a change for the better and increase your savings. Exchange Bank of Northeast Missouri offers helpful tips to break these five bad financial habits this year.  1. Impulse Buying  When you see an item you think you need to have and buy it instantly, that hurts your bank account. That item may be on sale somewhere else and that Read More

We all make mistakes and experiencing financial hiccups is a normal part of life. With each month comes new financial temptations that can be difficult to turn from. The good news is you can learn from others’ mistakes to avoid making them yourself! Keep reading to learn some common money temptations most people run into as well as how you can avoid giving into them.  Temptation #1: Spending Unexpected Cash  Whether you received Read More

When it comes to teaching your kids important money lessons, the sooner the better! While young children can’t fully comprehend all that goes into finances, there are a lot of fun activities that can help them better understand. Try these out next time you’re looking for a fun way to entertain your little ones!  Financial Board Games  A simple way to learn about finances and include the whole family is to purchase a money-related board game. If you have little kids, Read More

With the flexibility and freedom of self-employment comes the tricky challenge of managing your finances properly. Whether you’re new to the freelancing field or already know your way around the ropes, a quick money refresher is always a good idea. Below are our top money management tips for the self-employed.  Have a Plan  Budgeting is just as important in your freelance business as it is in your personal life. This may be tricky with the inconsistencies in your income Read More

When it comes to big families, there is extra love and enjoyment to go around. There also comes more money that needs to be spent. Managing finances with a larger family can be stressful and difficult depending on the expenses you have. We’re here to offer some helpful financial advice for big families, so you don’t have to feel tight on cash!  Own Less Vehicles  Reduce transportation costs as much as possible by limiting the number of Read More

We may all think we know a thing or two about finances, but do we really know it all? There’s always more you can learn to better yourself, and that includes money management skills. Today, we’ll give you five challenges to test your money management in order to whip your finances into shape!  1. No Spend Challenge  We know this sounds scary, but you can still buy groceries and pay your recurring bills. Try not spending money on any unnecessary items Read More

2020 brought a lot for us to handle, so we’re hoping 2021 will be the best year yet! Now is the time to start thinking about the changes you want to make for yourself and your habits this year. That’s why Exchange Bank of Northeast Missouri wants to offer our favorite savings resolutions to kickstart the new year.  Improve Your Credit Score  Improving your credit score will allow for a higher credit limit, better rates on loans and so much more! To do this, work on Read More

Once you enter adulthood, your finances become your own and the major life purchases quickly approach. While not all of these purchases take place at the same time nor is everyone guaranteed to make them all, it’s common for the average person to make most if not all of these purchases at some point in time. Continue reading to be prepared for your financial journey in the future!  1. New Car  That car you got when you turned 16 won’t last forever, and soon enough you’ll Read More