Author Archives: Milledgeville Bank Blogger

4 Steps to Buying a Home That Won’t Bust Your Budget

It’s that time of year when you’re likely to see ‘for sale’ signs on every block. Maybe you already have your eye on one and go out of your way to drive past it on your way home from work. Before you leap into purchasing a home, be sure to take these four steps before signing the bottom line.

1. Understand Your Monthly Expenses

Alarmingly, many Americans don’t have a true understanding about what money they have coming out each month. This can be a dangerous territory to get into, as it’s likely that there are a significant portion of the expenses that may be unnecessary. Take the time to have an understanding of what each of your monthly expenses are and if any can be cut or lessened. Maybe there’s a subscription you’ve forgotten about or haven’t realized how much money you are putting towards name-brand groceries each month.

2. Know What You Can Afford

Once you have your expenses broken down, you will have more of an idea of what you have coming out. Next, you should understand what you have coming in. Account for each person’s income contribution for the home. Subtract your monthly expenses from the after-tax amount and you will have an idea of what you can afford. You may want to consider meeting with a mortgage specialist to have a robust account of what homes could be in your price range.

3. Understand Home Buying Expenses

Being a homeowner comes with many responsibilities that sometimes can’t be accounted for. From broken pipes or a leak to a busted HVAC, the costs can be overwhelming at a moment’s notice. It’s important to understand the expenses that may come out of home ownership. Even if there isn’t something breaking, you have the responsibility of additional upkeep.

4. Set a Goal

Once you have a complete understanding of where you are and where you might be, you can set a goal. If the house you want is out of your price range, make it a goal to be able to afford a home like this. Take a look at what expenses can be cut in addition to how you can make additional income to get you to your goal within a reasonable time frame.

Don’t strap yourself into a payment that won’t fit your lifestyle. Allow us to help you purchase your dream home with a mortgage from Milledgeville State Bank!

Spring Into Cash With These Top Savings Tips

The grass is always greener on the other side of winter, but is your bank account? Make the most out of your spring by boosting your savings. All it takes is an idea and some creativity to make some green this spring!

Skip the Gym

Of course your health should take top priority in all seasons. However, it’s great to switch up your routine, not only for your health but potentially for your wallet! Now that the weather is warming up, you can look for some alternatives for working out. A gym membership has its perks, but you can find activities outside to get your heart rate up and keep your body strong – for free! These could be running outside, biking, hiking or even outdoor yoga!

Switch to Generic

More often than not, the generic version of most products are indistinguishable from the brand name. This goes for food, hygiene products and even medicine. You can cut your expenses by ⅓ by switching to generic everything when you have the choice!

Buy Used

Spring is typically the season when you see many garage or yard sales. People are anxious to clean out their homes for the spring while making a little extra cash! This is definitely something you can jump on board with, but if you don’t have the time, consider doing a little secondhand shopping for items you already need. It won’t save you any money to go secondhand shopping to only end up with many items you don’t truly need. However, if you are in the market for something like new clothing, shop around in your neighborhood before heading to the mall.

Make Savings Automatic

When we take the decision out of whether we will save and make it an automatic, I will save, it’s more likely to come to fruition. Set up an automatic savings account so that a percentage of each deposit will automatically go into your savings account. This is a great way you can see your savings grow and grow this spring!

Keep your cash safe by opening a savings account with us after utilizing these top savings tips!

Closing the Door on Cybercrime: What Business Owners Should Know

If you’re a small business owner, you’re likely a dreamer and a doer. The dreamer side of you hopes that your business will never be infiltrated and the doer side of you is reading this blog, ready to take an active defense on cybercrime. You will need both of these great qualities in order to seal your doors from those who want to take from your business and keep them wide open for customers. Here’s how:

Train Employees

While you may know your employees well or at least trust them to do their due diligence in security, mistakes can happen if employees aren’t properly trained in cybersecurity. This should be a part of their onboarding process on day one, as well as implementing required training throughout the course of their employment. They should understand how to use all of the company security procedures in addition to understanding the crucial importance of those procedures. Some of which may be:

Allowable Internet Usage
Remote Access Security Measures
Restricted Use Of Removable Media (USB or CDs)

Backup All Data

Imagine if you went to log into your business systems tomorrow and all of your data was either wiped or being held for ransom by a cybercriminal. We hope that you would not have to panic because you routinely back up your data. It can cost hundreds of dollars a minute to have your systems down. You can either backup data on the cloud or on a physical device capable of handling the information. For some businesses, it’s not only their own data at risk, but those of clients. Keep your reputation and client trust strong.

It’s Time for Another Password

We know, we know. It seems about everything needs a unique password these days and it can be difficult to keep up. However, it is this way because it works. Be sure that all your staff changes their passwords at least every three months.

Don’t Forget to Update

Just as it is important to backup data, it is just as important to continually update your systems. If there are gaps in updates, it leaves room for cybercriminals to enter. This is called “patching” in the tech world. Keep your software like a tight, impregnable wall by ensuring all of the necessary updates are made whenever possible. This can be done by automating updates, so you don’t let it slip by!

Keep your business safe by utilizing our safe and secure banking products. We’re happy to help you find safe ways to grow your funds.

Five Secret Ways to Raise Your Credit Score

Raising your credit score can seem like a daunting task, or you may not really care what your score is. However, a credit score affects more than you may realize, which is why we find it important to share our knowledge. Develop consistently strong credit habits with these secret keys of advice from Milledgeville State Bank.

1. Show you can handle all types of debt.
Debt comes in all different forms, from car loans and mortgages to credit card bills. Instead of paying for an item in full, consider putting that purchase on your credit card and paying in increments. When it’s time to get that new car you’ve been eyeing, add those payments to your list of different types of debt. Each time you create a new loan and pay off your purchases, you’ll see a bump in your score. Be wary of getting too big of a loan or making multiple purchases on your card – be realistic on what payments you can make each month to avoid accumulating too much debt.

2. Make payments on time.
If you decide to open a new account to show your good money habits, be sure to create a schedule for yourself. Don’t forget a payment, even if it just happens here and there. Every time you don’t pay on time, you’re instantly hurting your credit score.

3. Utilize your credit cards to the fullest.
Keep in mind that some of your credit is based on how long you’ve had a credit card. If you finally pay off that debt on your oldest card and decide to close it so you don’t spend anymore, this could actually hurt your credit. Once you pay off your debt, keep your card activated – this will allow your credit to continue to grow! We offer credit and debit cards that can help you work on bettering your credit.

4. Pay off the lowest-balance card first.
If you’re dealing with a lot of debt and feel overwhelmed, come up with a system to help lessen the stress. Find out what card you owe the least on and work to pay off that first, while making your minimum payments on all other cards. While snowballing your money and paying off the highest amount of debt first has been recommended, it may be wise to flip that idea around. You’ll need the boost of energy you get from paying the lowest amount of debt off to keep on track. Knocking your debt out this way won’t hurt you, as long as you continue making your minimum payments.

5. Ask for a credit limit increase.
If you regularly make payments on your card by following rule number two, feel free to ask the credit card company for a credit limit increase. By getting an increased limit and not spending more than you usually do on your card each month, this translates into a better credit score.

We hope you put these simple tips to good use. As your credit score continues to climb over time, you’ll be able to apply for larger loans. Working on strengthening your credit score will lead to other good financial habits. If you’re looking for a credit card, search no more – we have what you’re looking for!

7 House Buying Tips to Save Money

It’s finally house hunting season and you could not be more excited to get the ball rolling on your big purchase! Before you hit the road or the search bar, take these 7 tips into consideration.

1. Know Your Limits

Before signing the papers or falling in love with the first home you see be realistic about what is in your budget. We recommend spending no more than 25 percent of your monthly income on the mortgage. When you know what this number is, be sure to stick with homes in that price range. Don’t even go into homes that are going to be proportionately out of that limit, or you may kick yourself later as you feel straddled with a home you can’t afford.

2. Be Realistic About Fixer Uppers

While they are fun to watch on TV, if you don’t have the skillset to actually fix homes, a house that needs a lot of TLC is likely not for you. Many see a low price on a home and jump on it, thinking the work needed will be minimal and easy. When it comes to home improvement, no fix is simple and this is even more true if you are a newbie to the renovation game. Often people do not realize the time commitment and additional cost that come with dramatic improvements.

3. Provide a Strong Down Payment

The more you are able to give for a down payment, the greater equity you will already have in the home in addition to a lower monthly payment. This will save you money on interest in the long run.

4. De-clutter the Current Space

It’s time to spring clean your “extras.” We all have things sitting around our home that go untouched and unneeded. Start selling these items at a local thrift store or posting them for sale online. This will help to make your move easier and be a helpful way to start saving for the down payment!

5. Take Your Time When Shopping

Don’t let the desire to get out of your current living space cloud the judgement of the purchase. Take your time studying each home and realize that this is one of the most important big purchases you will make in your lifetime. It needs to be a thoughtful, decisive purchase.

6. Eliminate Other Debts

Get a great deal on the mortgage by making sure your credit score is in tip-top shape. A large purchase with a loan or credit card right before you buy a home will certainly have an impact on your mortgage rate. Boost your credit score by paying down the debt you have and stay away from any other purchases until after the home is in your possession.

7. Conduct a Personal Roof to Basement Inspection

Know the property backwards and forwards before signing the dotted line. This means hiring a trusted inspector and having a contractor come to confirm the findings. After this, there is still a final step. You need to conduct a thorough inspection to ensure that you know exactly what you are in for. This is a great checks and balances system to confirm that you are getting a fair deal that won’t end up costing you thousands in repairs later.

Be smart with your finances and don’t spend all your money on a “dream home.” We’re here to help you know how much house you can afford, while offering mortgage solutions to fit your needs.

8 Energy-Saving Tips for Spring

It was a cold winter and it isn’t quite the scorching days of summer. It’s a beloved time of year for many. But did you realize that you may be spending more than necessary on energy bills this season? Here are eight tried and true ways to save this spring!

1. Say Hello to Your Adoring Fans

Ceiling fans are the coolest way to get your home to a comfortable temperature. If you have fans that are energy efficient, they can potentially cut your costs by as much as 60 percent! Did you know that you should be changing the direction of your ceiling fan for the warm and cold months? Here’s a short how-to video.

2. Hello Sunshine

Get the windows open! Not only is it a great mood booster, but it can provide significant savings. Lighting costs can add up quickly, so take advantage of the natural light right outside of your window. Thankfully, the days are getting longer so you will be able to do this later and later into the evening as the season progresses.

3. A Grill is Swell

Who doesn’t love freshly grilled food? Even the smell of your neighbor grilling can get your mouth watering! A great additional perk of grilling is the cost it can save of having the oven or stove top on. If you’re cooking a meal in the kitchen, it can quickly heat up the whole house, thereby causing the air conditioning to run even more.

4. Seal the Deal

Do you remember the draft you felt coming from the window this year? It’s time to get that sealed. One-third of your energy costs may be going right towards paying for those leaks as cool air escapes in the spring and summer.

5. Suck It Up

In addition to spring cleaning the house, grab the vacuum and get behind your fridge. You may want some assistance to move it out from the wall. If you see that the back is starting to collect dust and debris, getting it cleaned off will help it to run more efficiently.

6. Filters: Forget Me Not

If you haven’t been regularly replacing your air filters, it’s time to do so. This will help it to run efficiently while providing clean air to your lungs.

7. Treat Your Windows Nicely

Window treatments can do wonders to cut costs on the electric bill in all seasons. You can get blinds or curtains. We would recommend thick light-blocking curtains that do a great job of keeping the temperature to your preference on the really warm days.

8. Shorten Spring Showers

Leave the long showers to mother nature. Your water bill can add up quickly, so start challenging yourself to no more than a five-minute shower. One way to make sure you stick to this time is by setting an alarm and placing it in the far corner of the bathroom opposite the shower. Nobody wants to hear that loud beeping while taking a shower!

When you start saving on your energy bills, open a savings account with us today so you can safely store that cash!

Stay Secure While Staying Connected: Top Myths of Security

It’s nearly unavoidable to have some semblance of a social life if you are not using technology to connect with the outside world. From social media and texting to phone applications, we are always connected. Many are uninformed of how to maintain this social connection while at the same time protecting themselves from the most basic security threats. We are combating this by busting the most common notions or myths about cybersecurity.

MYTH: Hackers aren’t interested in what I have.

If you have a social security number, hackers are interested in you. Even if you feel like your personal wealth is not very high, your social security number is incredibly valuable. With your number, they can conduct financial theft by applying for loans and credit cards in your name. They could also use your number to incur their healthcare costs or even legal obligations. In an even darker scenario, your identity can be sold to other hackers to use over and over again. Thereby creating a tumultuous problem. Realize that you have something worth protecting!

MYTH: My email application blocks all of the spam for me.

It only takes one accidental or wrong click to open yourself up to malware. And as great as some email applications are, they aren’t able to block every suspicious email from entering your inbox. Did you know that 1.5 percent of spam emails are malicious? Considering how many you likely get in a day, you are at risk every time you click. There are many ways to add additional filters to your email, but the best line of defense is actually you. If you have even the slightest suspicion about an email, report it. Only communicate with those you know without a doubt are secure sources.

MYTH: I’d be safer to go off the grid.

While it may sound alluring to some nomads, unplugging from digital connection can put you in a position of higher risk. This is because there is less day to day monitoring of your accounts. This makes your accounts a terrific target for hackers to attack and go by unnoticed.

MYTH: I have cybersecurity software, so I am not at risk.

If you’ve invested in anti-virus software, good for you for taking steps to protect yourself! However, hackers are becoming more advanced and finding ways to bypass hundreds of protective measures every day. Also, they can still attack you from other sources such as social media. A great way to combat this is to never click on unfamiliar links and to limit the information you put on social media, including your birthdate.

Stay safe while staying connected with these great tips. Remember, we offer safe and secure banking products to keep your information protected.

Be a Super Saver: Out of the Box Frugality Tips

What’s the secret to having a large savings account? Spending less money is, of course, a simplified answer. But what does that look like in your daily life? We have gathered some out of the box tips that you may have not considered before. Get ready for ideas that will challenge your spending in a new way!

You. Don’t. Deserve. Everything.

This concept is very counter to the message that society places on us every day. Many of us are privileged when it comes to our basic needs being met: food, shelter, and clothing. Yet, we often go beyond this by convincing ourselves that we need items that are really just wants. For example, our spending on food can become destructive to our savings when we convince ourselves that we deserve to eat fine dining on a regular basis when what we really need is a nutritious meal that can be prepared at home. When we muddy the line between wants and needs, we put a roadblock on our savings. Don’t let the danger of entitlement hinder your long term goals.

Volunteer

Many might not realize this, but volunteering is a great way to have free or discounted entertainment. Places like nursing homes will even pay for your movie ticket when you join the residents for a movie at the local theater. Do some research and get connected with volunteer opportunities in your town to learn about how you can make a difference while also getting free entertainment!

Be Prepared for Gift Giving

Do you get stressed when holidays or birthdays seem to be nonstop? By planning ahead, you can make or buy meaningful gifts at a fraction of the price. Last minute purchases can sink your savings quickly.

Start Splitting Meals Out

If eating out isn’t a luxury you want to give up, consider splitting the meal with a friend or your partner. Eating out is expensive and can be very unhealthy. Cut both of these factors in half to keep yourself and your savings healthy.

Cut Out that Gym Membership

We don’t mean skipping out on your health! But gym memberships can be very expensive and there are many on-demand options where you can do programs from the comfort of your home. You’ll also save money on gas, clothes and time.

Adopt a Minimalist Attitude

The best savers have a less is more attitude, even with the belongings they already have. If you have the urge to spend, consider waiting a few days to evaluate if it is a true need. Having fewer belongings around your home can help to clear your mind and oddly help you to refrain from wanting to spend more. There is a phenomenon where the more you spend, the more you want to keep spending.

Get Back to the Library

Support your local library and get that library card renewed! Libraries have so much to offer beyond books like musical instruments, music, games and movies. Why spend money on something that is readily available to you?

We hope these ideas have started to get your wheels turning on how to amp up your frugality habits. Stop on in or visit our website to see what products we offer to make you a super saver.

Top Ten Cybersecurity Tips

With our reliance on technology increasing in nearly every facet of our lives, it is more important than ever that you are educated on how to protect yourself and your assets from cyber threats. Hackers are interested in anyone and everyone’s information. It does not matter if you don’t think you have anything worth stealing. Your identity itself is incredibly valuable on the black market. Take the proper precautions and follow these simple cybersecurity tips!

1. Put a lock on all of your systems.

We mean this not only for your devices but on your smart systems, too. If you don’t have a lock on your router, you want to get one immediately. A cybercriminal will be able to log onto your Wi-Fi and gain access to any device using your internet. This is another reason why you should never log on to any wireless internet that does not require a passcode. Every time you walk away from a device, whether it be your phone or a laptop, make sure that you have locked it with a passcode.

2. Pay inside.

We know the weather isn’t exactly warm anymore and you want to get the chore of filling your gas tank over with quickly. However, pay at the pump services pose a risk. Like an ATM, gas pumps can have card skimmers. Take your card to the friendly face behind the counter inside.

3. Always backup your data.

Ransomware is when a hacker takes your data and refuses to release it until a price is paid. We can say with a fair amount of certainty, they will never give you your data, no matter how much you pay. To avoid being in this situation, consistently remove data you don’t need and save what you do on a cloud-based system.

4. Keep your friends close.

We are going against the notorious saying. Keep your friends close and your enemies as far away as possible. When you get a friend request from someone that you do not know, be suspicious. Play it safe and decline these persons unless you have at least 20 mutual friends.

5. BYOD (Bring Your Own Device)

We are sorry to say it, but you can’t always trust that your friend will stay as up-to-date on security measures as you. However, you can certainly alert them to this blog! Until then, don’t use anyone’s devices but your own, as you can be hacked from unknown sources.

6. Question before connection.

This ties into #4, but just because you are on LinkedIn, doesn’t mean it is a platform where cybercrime does not happen. Be wary of who is trying to connect with you, as they may be trying to steal basic information about you to use to hack your accounts.

7. Smarten up your phone.

Your phone may have come with some automatic security measures, but you can take it further. Be sure to turn your Wi-Fi and Bluetooth off when they are not in use. If you have sensitive information on your phone, you can install an encryption system as a safeguard.

8. Get your apps together.

You likely have apps on your phone that you haven’t used in months. You probably haven’t done the necessary updates to the app and it may not be safe to keep storing it on your phone. More apps can equal more risk, so clean them up.

9. Free Wi-Fi isn’t always free.

If you’re like most people, you connect with public Wi-Fi whenever it is available. We suggest not doing this, as it may not be secure. There may be criminals who try to access your device through the wireless internet to steal your information.

10. Don’t say, “It can’t happen to me.”

Most importantly, you need to realize that no one is immune from a cyber attack. Cybercriminals will take whatever they can get. Don’t let yourself become the next victim.

Ignorance of this threat is not an option now that you know some great ways to avoid being hacked. Be sure you’re staying safe when online. Our Online and Mobile Banking services offer the security you need to bank efficiently.

Why Choose a Local Bank?

Whether in bustling cities or the rural Midwest, community banks improve lives in the communities they serve. This seems to be a popular notion across the nation, as can be seen by their large local support. According to the ICBA, community banks make up 96 percent of all banking institutions in the country. They are successful because they work and are a positive light in the community.

You take great care when it comes to choosing a financial institution that you trust. If you haven’t made the switch to a local bank yet, here are just a few reasons why you may want to make the switch.

1. They support community organizations.
While we can’t speak for every community bank, Milledgeville State Bank makes it a priority to give back to the area. We realize the importance of donating to local charities and even encourage employees to volunteer to local regions of need. Every individual at every level of service in the bank is personally connected to the community and wants to see it thrive.

2. They have the same state of the art resources of big banks.
Some may think that community banks are still in the Stone Age when it comes to technology. This could not be further from the truth. We know that the future of banking is online and we have made it a priority to meet our customers in a way that is easiest for them.

Customers can access their account information, make deposits or withdrawals when the office is closed or if they are traveling out of the area. Although, we still love to see your smiling face in person when you have a chance to come into one of our locations.

In addition to being technologically up-to-date, we have competitive individual and business services that a big bank has to offer, but likely at a better rate.

3. They have a personal approach to lending.
Unlike big banks, we know our customers. Our kids might play baseball with yours or we may have even gone to high school together. Whatever the case, our approach to lending is more personal, because it is personal. We take a more rounded approach to lending instead of simply seeing you as a credit number like a large bank might do. We are here to serve the average Joe and play no favorites.

4. They maintain great customer service.
Community banking is about relationships. With that comes a customer service approach that is caring and helpful. You will likely see the same people working there every time you need assistance and can develop relationships. You are able to really feel like your bank is looking out for you because they know you and have your family’s best interests at heart.

5. They invest in the community.
Because they are a small business themselves, community banks value local businesses and understand the benefit they have on the economy. When you invest locally, the entire community prospers. We aren’t interested in siphoning out investments to Wall Street. Right here is where we want to be and see the area grow.

We can’t wait to meet you. Stop by our bank to see all the benefits our products can offer you!