Category: Budgeting

Budget-Friendly Fun For Kids

Finding activities for you to do with your kids, or have them do on their own, can be a challenge. It’s great to get them active and not just sitting on the couch, but at this point, you’re out of ideas. We have crafted the perfect list of kid-friendly things to do while also making sure it won’t break the bank!

Movie Marathon

If it’s chilly outside and the kids are looking to wind down, a movie marathon isn’t a bad idea! Make a theme of it, so you can make themed snacks to go with the movies you decide to watch.

Hands-On at Home Depot

Home Depot offers kids workshops which are perfect if you’re looking to entertain them. Home Depot says, “Kids workshops provide a lively environment mixing skill-building, creativity, and safety for future DIYers.” Find one near you.

Rockin’ Roller Skating

Roller skating is a cheap activity you can do indoors or out! Find a rink close to you to take your kids and their friends to.

DIY Arts & Crafts

There are thousands of articles online that offer fun DIY craft ideas for kids of any age. For example, here are some great Fall crafts you can make for cheap!

Scavenger Hunt

Throw a scavenger hunt and have the kids searching around the house all day long for your hidden goodies. Buying dollar prizes to hide here and there will keep them engaged and ready to search for more!

Money Lessons

When at home with your kiddos, you have the perfect chance to teach them about money. Talk about saving to start and get them their own piggy bank to begin the process.

Make Your Own Fun

Playdough, goop, shaving cream counter art and so on are all fun, messy items that kids can create and play with for hours. Keep them in the kitchen while you’re doing dishes or cooking by plopping them down to create their own playdough with this recipe.

Board Games

Teaching your child how to play chess or checkers is a great way to spend time with them without spending money. There are plenty of other board games you can play too, but chess is a great game that teaches thinking ahead and skill – so try it out!

Showtime

Puppet show, magic show, fashion show – you name it! Let your children entertain you or just themselves while hosting their own show.

Obstacle Course

Set up an obstacle course around the house for your kids to burn off energy. The floor is lava, so they have to climb all the chairs and items you put in place to make it across the room!

We hope your kiddos enjoy a few of these activities – we know your bank account appreciates it! Feel free to open a savings account with us to place some of that extra cash, or open one for your child so they can start saving too.

Have You Thought About These Holiday Saving Hacks?

It’s the holidays! As they come closer, you’ll want to be preparing your budget for the food and presents you’re buying. But, be careful not to overspend! Here are our top sanity-saving holiday hacks to follow.

Be Frugal Online

Use cashback apps like Ibotta and Ebates when you shop online for the holidays to save money and earn bonuses. There are also ways to earn free gift cards online when you take surveys, such as using a program like Swagbucks.

Simplify Your Giving

Don’t go all out and buy new clothes for everyone. Think of simple and sweet gifts, like a dessert platter full of your family member’s favorite sweet treats. You can also decide to do no gifts and just play a family giving game like White Elephant. Here’s an example of how some people play White Elephant.

Use An App

You can use apps like ShopSavvy to do your comparison shopping. Just scan the item’s barcode with your phone, and the app will tell you if you can find that item for less at another store. You can also use your phone to download a budget app, as this will help you keep your spending for the holiday meals and gifts in check.

Save On Shipping

Chris Hogan, a personal finance expert, states, “The U.S. Postal Service offers flat-rate boxes in different sizes, so pack as much as you can into a box (within weight limits) and save on shipping. Or take advantage of free shipping offers when you buy online.”

Re-gift

We all have items piling up around the house that have never been worn or are collecting dust. They are perfectly good candidates to become gifts to those who would actually use them! Do some investigating and find those secret treasures you can re-gift this holiday season to save big.

Invest in Experiences

Instead of spending money on gifts and family get-togethers, talk about doing a trip or finding something fun close to home to experience. There are plenty of great adventures you can find for you and your family to do – without spending extra money on presents and meals.

Survive this holiday season with these tips and tricks! Staying within your budget means you need to keep a handle on your expenses, even during these times. Our savings account would be a great place to store some of that cash, so you don’t go spending it all at once!

Rainy Day Fund: 5 Ways to Save For Unexpected Events

You can’t plan on what bad times will come your way, but you can unfortunately count on the fact that there will be a bad day in your future that can impact your bottom line. Make it a little less painful by preparing for the costs ahead of time! Here are some creative ways you can start saving today for unexpected events.

1. Know What The Fund Is For

Don’t start a big life adjustment if you don’t really understand the purpose behind it. This is true of just about every big change! Often, people will start a savings account and keep it as a lump sum to use towards anything unexpected that comes their way, whether it be a flat tire or extra meals out on vacation. A Rainy Day Fund is typically just for bad days that require money towards new tires or fixing a small plumbing problem. It’s for smaller mishaps but not full-blown financial emergencies.

2. Separate Your Savings

Once you have an understanding of what the funds are for, you should separate your savings accounts. By having a different account for emergencies, vacations, rainy days, etc., you will be better able to track and spend your savings. You may even be motivated to save more. If you see one of your savings areas lacking, you can concentrate more money into that account at your next paycheck.

3. Hold Tight to Extra Income

While it may seem obvious, it’s definitely not easy. When you get extra income, whether it be a pay raise or even money given as a gift for a birthday or anniversary, you can put that money directly into your savings account. Your daily living isn’t required to change for this simple tip!

4. Start Saying No to Whimsy

A Rainy Day Fund isn’t a fund for you to splurge on unneeded items when you’ve had a bad day. It’s a fund to keep your budget in check so you can ride out the unexpected waves of financial trouble. Before you go shopping, make a list of what you need. Buy no more than what is on that list and shop purposefully. If you love the occasional “splurge,” account for that in your budget. For example, you can know that you have $30 to spend however you please whenever you please every two weeks.

5. Set a Goal

It’s hard to know where to start if you don’t have a goal. For many, a Rainy Day Fund is the first step in learning how to build a larger emergency savings. It sets the foundation for a more detrimental financial emergency like losing a job. Start small but be specific with what you hope this account to look like three, six and twelve months from now. Knowing where you are going with this will be great motivation to get started!

While saving for unexpected events, we offer a variety of accounts to keep your money safe. Learn what works best for you at Milledgeville State Bank.

How to Buy a Car – and Actually Save Money

Is your current car on the fritz or have you been eyeing that shiny new Jeep you see parked at a dealership on your way to work every morning? If you’ve been hesitant to buy a new vehicle because you’re worried about it costing too much, here are some ways that you can get the car you’ve had your eye on while still saving money.

Get Pre-Approved

Before starting your search, you should get pre-approved for a loan. It’s important to know what limit you can qualify for and match that up with your monthly budget. It has been estimated that your total auto expenses should not exceed more than 10 percent of your yearly income. This includes the loan, insurance, maintenance and interest. When you know your limit, you can stop yourself from gazing at cars out of your price range that you may have otherwise talked yourself into buying.

Sell Your Current Car

Many times the dealerships will ask for you to trade in your vehicle in order to get a “better” deal on the new car. However, you can typically get more for the auto if you sell it privately. This may cost you some additional time to fix anything major with the car, as well as listing it in the local classifieds. The dealership will turn around and sell the car for a profit anyways – shouldn’t that extra money be yours to put towards your new wheels?

Shop Around

You are your best advocate when it comes to finding and buying your new car. Don’t make any decisions right away. A smart way to start looking is searching at the average value of the car you are wanting. Look at reputable sellers online to see what the cars are typically going for, so you don’t find yourself getting swindled by a dealership transaction.

New to You Is Often More Valuable

The minute a car is driven off of the lot, it loses a significant amount of value. Often, the newer cars aren’t necessarily any different than ones a from few years prior in terms of features. Consider buying Certified Pre-Owned vehicles to save yourself hundreds or thousands of dollars.

Be Wary of Extended Warranties

Many dealerships will push heavily for you to have an extended warranty because this is how they make a large portion of their money. It is of course your choice on whether or not it is worth the risk of not accepting the warranty. However, many times these extended warranties are mute in comparison with the manufacturer warranty. They are usually very expensive and do not make it worth your dollar in the long run.

Allow us to help you with a big purchase like this – we’d be happy to speak with you about our options.

How to Meet Your Retirement Saving Goals

No matter your age, everyday you work is a step closer to retirement. When you think of driving off into the golden years, where are you headed? You likely have a picture in mind whether it be having a house in your dream location or an RV to explore the National Parks. Whatever that goal is, the steps to get there are going to be similar. Here’s some great money moves you can make in order to reach your retirement savings goals.

Start Where You Are

Many are under the impression that they should wait to save for retirement until they make a significant salary. You may be surprised at how much can be saved with a quality savings account on a small income. Even if you are only able to put $25 away each month, it is a great start. Most importantly, it gets you into the habit of saving. Once this habit is established, it will be easier for you to continue this as your salary and contribution increases.

Make Use of Every Employee Plan

If your employer offers matching contributions to your 401(k), take advantage of this. With most employers, the process is automated to come out of each paycheck. It takes the decision making out of the equation and can add up over the course of your career. If your employer does not offer this, consider contributing to an IRA on your own. It can either be a traditional or Roth.

You Must Stash

No, we aren’t talking about your mustache. What we mean is that you must stash away any extra income that you have. If you get extra income from a bonus or selling a valuable personal item, put that money into a savings account. It may not seem as glamorous as buying a new car or getting a new wardrobe, but your future self will thank you.

Let Your Kids Hear “No”

Many people try to give their kids every opportunity available. While this is great, it should not come at the expense of your retirement savings. Extracurricular activities can get very costly, especially if your children are in elite clubs. One way to cut down on these expenses while keeping them active is to limit them to one activity per season. They will learn to take advantage of every opportunity given to them as well as learn how to get involved in free activities like volunteering or after school clubs.

Saving for retirement can be tricky, so allow us to help your money grow with a CD or IRA from Milledgeville State Bank.

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!

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!