Category: Savings

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6 Wallet-Friendly School Lunch Ideas

Going back to school comes with its handful of expenses, and school lunch is one of them. Although packing lunch for your kids each day might not sound appealing, it will save you big bucks and is easier than you think. We hope you’ll give these six wallet-friendly lunch ideas a try this school year! 

1. Cheese Quesadilla: Not only is this lunch delicious, but it’s super cheap and easy to make. All you need is a tortilla, a couple of cheese slices and whatever veggies you have to add in. This meal is a kid-favorite, plus it’s a great way to sneak some veggies in their diet, too. 

2. English Muffin Pizzas: These mini pizzas are a game-changer when it comes to school lunches! All you need is an English muffin, pizza sauce, shredded cheese and other pizza toppings your kids’ desire. Simply cut the English muffin in half, spread the pizza sauce on top, sprinkle on some cheese and add some toppings like bell peppers or olives. Cold or hot, these pizzas are delicious! 

3. Homemade Lunch Kit: The popular Lunchables are actually super easy to recreate and much cheaper when you make them yourself. All you need to do is fill a divided container with sliced lunch meat, crackers and cheese. These lunch kits usually come with a juice pouch and a sweet treat you can throw in, too. 

4. Veggie Pasta Salad: This simple meal is great for preparing early and having ready to go in the fridge. All you need to do is mix whatever vegetables you’d like – like carrots, peppers or broccoli, with cooked pasta and Italian dressing. To brighten your child’s day, try out some fun-shaped pasta. 

5. Peanut Butter and Jelly: Don’t forget about the classic and super cheap go-to school lunch! Many schools have a nut-free policy, but luckily there are lots of alternatives in stores that are nut-free but taste just like peanut butter, like Wowbutter® or sunflower seed butter. 

6. Lunch Meat Rolls: By simply rolling some lunch meat, cheese slices and veggies in a tortilla shell, this lunch is ready to go in minutes! Keep the rolls together by using a toothpick and add a dip like ranch on the side. 

While your kids return to school, you can be sure they are happy and satisfied with their lunches. Meanwhile, enjoy the satisfaction of knowing you aren’t breaking the bank with these meals! 

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I’m in Debt – What Should I Do?

While struggling with debt isn’t uncommon, getting out of it as soon as possible is important. Student loans, car loans, credit cards and other payments can lead to your pile of debt getting bigger and bigger. So, what steps should you take if you are in debt? Keep reading to find out. 

1. Clean Out Your House & Sell What You Don’t Use 

Start small and simply sell the things you don’t need. You’d be surprised how many things you have around the house that you never use. While doing this won’t erase your debt, it will give you some extra money to put towards paying it off and help you recognize some of the unnecessary purchases you’ve made. 

2. Find a Side Job 

If you have a full-time job but have weekends open, finding a part-time job to fill that time would be extremely beneficial. Working on your days off might not seem ideal, but if you’re serious about paying off your debt, it’s a great step in the right direction. Just remember these circumstances are temporary and the bigger your steps towards erasing your debt are, the quicker you can get it done. 

3. Analyze Your Spending Habits 

The best way to understand your spending habits is to write all of your payments from the last month or two down on paper. Once you see everything in front of you, try dividing that into categories – necessary expenses (like rent, utilities, groceries, etc.) and unnecessary expenses (coffee trips, clothes, video games, etc.). Now that you see how much you’ve spend on things that aren’t necessary, start rethinking the way you handle your money every day. Next time you think of buying that cute shirt, ask yourself if you need it. These small purchases add up and the money could be put towards your debt, instead! 

4. Never Spend More Than You Make 

How do people get into debt? They spend more money than they’re bringing in. If you’re trying to get rid of debt, you definitely can’t be adding more money to that pile. Trim down your budget so you know you’re making more than you’re spending. The best way to know if you’re doing this is to simply track everything you spend and everything you make. At the end of your pay period, make sure the money earned is higher than the money spent. 

Paying off the debt you owe might seem like a big job, but freedom from debt starts with taking the first step. Start by implementing these effective tips into your daily life, stay organized and keep a positive mindset. Debt is temporary if you work hard and stay motivated! Get saving by opening a savings account with us today.

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7 Daily Habits That Will Save You Money

Saving money doesn’t have to be complicated – there are habits to incorporate into your daily routine that will save you money in the long run. These tips are simple and easy to start but also very effective. It’s time to take control of your finances and make some healthy changes! 

1. Pay with cash 

Using a credit card for everyday purchases can be tempting and often lead to impulse buying. A good way to stick to your budget is to have a certain amount of cash for the week and use only that cash. This is also great because you can’t spend money that you don’t have. 

2. Do more things at home 

Too often we rely on other places to do tasks that can easily be done at home. For example, many people spend lots of money going out to eat, getting their car washed, stopping for coffee, getting their hair trimmed and more. These are all things that can be done for a much lower cost in the comfort of your own home! 

3. Check the secondhand shop first 

You never know what secondhand gems you can find until you try! Before making a purchase, check garage sales, thrift stores, the Facebook Marketplace or more to see what deals you can find. 

4. Schedule when to track your spending 

To hold yourself accountable for what you’re spending, it’s a good idea to track your spending. Plan a day you’ll do this each week, so it becomes a habit. It’s a great way to reflect on what purchases were necessary and which ones weren’t. There are lots of apps you can download to help with this. 

5. Be careful with your utilities 

Even though utilities are a recurring cost, there are still many ways to reduce how much you must pay. Try cutting costs by keeping lights off, taking shorter showers, opening your windows rather than cranking the AC, etc. These costs can add up so this is a great habit to start! 

6. Reevaluate memberships and subscriptions 

Go through all the subscriptions and memberships you pay for. Which ones are necessary and which ones aren’t? Save yourself some unneeded costs by getting rid of some monthly payments. 

7. Take time to think before you buy 

Before making a non-essential purchase, give yourself a few days to think about it. Only follow through with the purchase if after those days you still really want it to help reduce impulse buying. 

We hope these tips will make a difference in the way you handle finances in your everyday life. Turning these seven things into habits will certainly pay off in the long run, so give them a shot! 

6 Money Tips to Prevent Spring Stress

Research shows that money is the number one cause of stress among Americans. Balancing your expenses and managing your spending habits can be tricky, but we’ve come up with six great tips to help keep that stress away.

1. Track What You’re Spending

Keeping track of what you spend money on is a great way to analyze your spending habits and make changes. Sometimes you don’t realize what spending problems you have until you see your payments on paper. Keep a paper or digital list, or even download a money spending app, to help alleviate some stress.

2. Reach Out for Support

Having a support system is a great way to reach your financial goals. Ask a reliable friend to hold you accountable for your spending habits and surround yourself with people that want you to succeed financially.

3. Limit Temptation

If you tend to make unnecessary or impulse purchases when you’re in a certain area, like in a mall or downtown, do your best to avoid those areas. Whatever brings about the temptation to spend money when you don’t need to, keep your distance from it. Next time you visit a mall, maybe bring along your accountability partner so they can help out!

4. Make a Plan

Sit down and spend some time reviewing your financial situation. Figure out when money causes you stress and brainstorm a way to ease that stress. For example, if you tend to worry about spending money while getting groceries, try setting a weekly or monthly grocery budget and make a grocery list that matches up. Next time you go to the store, you’ll have the list and won’t have to worry about what number the store clerk will say at checkout.

5. Have an Emergency Fund

Unexpected expenses will come about in life and, in those situations, you’ll feel a lot better knowing you have a backup plan. It might seem like a challenge to build an emergency fund, but start small and build it up over time. 

6. Check Your Progress

Seeing how far you’ve come after implementing a financial plan is like a breath of fresh air. Look at the positives and be proud of yourself for making a change in the first place.

If you’re making an effort to control your spending habits, the stress of money will eventually become less and less. Feel free to contact Milledgeville State Bank to learn more about money habits and take steps towards having a stress-free spring season.

How To Stop Living Paycheck to Paycheck

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Living paycheck to paycheck is more common than you may think. According to this website, over 65% of Americans are living paycheck to paycheck and would struggle to get by if their paycheck was delayed by a week. Why is living this way dangerous? And if it’s so bad, how do we stay away from it? Keep reading to find out.

Why is living paycheck to paycheck so bad? If relying on your paycheck gets you by, some may wonder what the big deal is. Sure, it can be stressful, but it works, right? Wrong.

  • You aren’t guaranteed your job

Many people find themselves in the unexpected situation of losing a job, and once that happens, there will be no paycheck to live off of. 

  • You can’t build an emergency fund this way.

Living paycheck to paycheck makes it nearly impossible to build up an adequate emergency fund. This is something you should have in case something unexpected took place, like an accident, unexpected car issues, etc.

  • It takes a toll on you emotionally.

Living with the stress of not having a backup plan can really have an effect on a person. This stress isn’t good for you mentally or physically!

So, what can I do to stop living this way? You now realize the dangers of living paycheck to paycheck, so it’s time to talk about what you can do to either avoid it or start getting out of it.

  • Use automatic savings. Having your savings taken out automatically instead of attempting to save whatever is left over makes a big difference. You’ll be less tempted to spend your saved money and your savings will build up much faster!
  • Differentiate your wants from your needs. There are definitely necessary expenses, like food or a mortgage, but lots of spending decisions can be impulsive and unnecessary. Start by being more intentional with deciphering what you need and what is just an added expense.
  • Set some goals and have patience.The best motivator is an end goal. Figure out what you are striving for and remind yourself of that whenever you walk away from a purchase. Be patient and trust the process, because saving money takes time!
  • Find an accountability partner. Talking to a financially wise, trusted friend or family member to hold you accountable is a great way to stay on track and improve your spending habits.

Getting out of living paycheck to paycheck is difficult, but not impossible. The first step is simply to recognize the problem and start making a change. For help with your savings, contact Milledgeville State Bank. We’re happy to talk and help!

How Do I Pay Off My Debt?

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Extreme amounts of debt can weigh heavy on your shoulders. It has been found that extreme amounts of debt are linked to higher rates of suicide and depression. This is why it’s so important to have an understanding of good debt vs. bad debt and how you can go about paying back your debt efficiently. 

Don’t Let it Define Your Life

You, of course, want to have your debt paid off as soon as possible. However, letting it define the value of your life is counterintuitive to being able to pay off the debt. You can enjoy your life while simultaneously paying off debt. A common saying about paying off debt is to think of it as a marathon and not a sprint. You aren’t going to have all of the debt paid off at once, but consistent payments will help get you there instead of burning out from sprinting.

Be Careful Who You Surround Yourself With 

It’s hard to stick to a budget when you’re surrounding yourself with friends who want you to spend money with them. It’s difficult to say no to socializing because of the money. At the same time, you should be surrounding yourself with people who understand your financial priorities and support you in those goals. Spend time meeting with financial experts to help guide you in your investments and debt management. 

Press Pause on Credit Cards

While credit cards are a great tool when used correctly, they can be a hindrance to paying off debt. Do your best to refrain from using them until you have your debt under control. 

Utilize Extra Income

If you receive a bonus or a pay increase, place all or a portion of those funds towards your debt. You won’t notice the difference, besides seeing the decrease in your debt to income ratio!

Start a Payment Plan 

In order to keep the momentum going, you should start paying off your most expensive debts first. This typically means the highest interest. Establish a set amount that you will pay each month and work it into your budget. Your amount should be more than the minimum payment due. 

Don’t let your debt take over your life. Get control of your dues today!

Make Your 2020 Savings Goals A Reality

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The new year is full of hope and imagination for the future. It can be challenging for anyone to stick with these goals, especially financial ones. We’re happy to tell you that there is a way to make these goals a reality by sticking to these wise practices.

Be Realistic

In order to make your goals a reality, you should set realistic goals. While a beach house on Maui would definitely be an attractive prospect to most people, it’s not in the cards for everyone. Maybe something like this will be there for you someday, but first you want to master the baby steps. Think about goals within the next 1-5 years that you can see happening and are motivating.

Prioritize Goals

Not all of your goals are likely to be reached in 2020. Prioritize the goals in the order that you think they can be accomplished first and that are also the most important to you. 

Identify Roadblocks

Plan ahead for the things you think might go wrong or steer you off course. Is one of your savings goals to cut down on splurging but you find yourself repeatedly swinging through drive thrus and shopping online just because you have a free shipping subscription? Decide on alternatives to keep you from continuing with these habits. If there are events or emotional triggers that compel you to spend money, figure out another way to get relief. Go for a run, read a book or invite a friend over for a movie night. 

Organize Accounts

Get familiar with the banking accounts available to you. Learn about how to use them to fit your lifestyle. Maybe you want each paycheck to have a percentage go straight to checking. Get this set up! Have you downloaded our mobile app yet? If not, consider doing so. It’s a great way to easily keep an eye on your everyday spending as well as check in on your growing savings account. 

Celebrate Progress

Goals aren’t achieved overnight. You’ll be working hard to achieve your goals and you might experience some burnout. To keep this from happening, celebrate the strides you are making towards reaching your goals by having a visual that can remind you of your “why” and modestly celebrate each achievement in a way that’s fun for your household. If you have kids, get them in on the fun and teach them why following through on commitments is important and why celebrating mile markers is also important!

For more ways to follow through on your savings goals, reach out to us today!

Farm Loans 101

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“Let us not forget that the cultivation of the earth is the most important labor of man. When tillage begins, other arts will follow. The farmers, therefore, are the founders of civilization” (Daniel Webster). We love our farmers and believe they are the backbone of this nation. If you are new to farming or if it has been in your family for years, it’s important that you know about farm loans. Here are the basics you should be familiar with. 

FSA

When talking about farm loans, we should first discuss what the FSA does for farmers. FSA stands for Farm Service Agency. They are a branch or agency of the US Department of Agriculture. You may be able to obtain a loan through the FSA if you meet certain requirements. If you need to start your farm, expand or sustain it, you are likely going to need a farm loan. Choosing a lender like Milledgeville State Bank to help you through the process will be the first step.

Who Qualifies?

  • A need to buy equipment or livestock
  • A desire to expand your business/land
  • Experienced a natural disaster

These loans are meant for those who are not able to get credit from a commercial lender. They are usually used by farmers within their first ten years of business. When you are able to receive credit, you will no longer qualify for a loan through FSA and will need to go through a commercial lender. 

Types of Farm Loans

Farmers have very specific needs. There are types of loans that many farmers seek out to help their farming businesses thrive. 

Operating Loans: These can be essential to the success of a farm. They help purchase things like fertilizer, livestock, irrigation, seed and harvest. 

Equipment Loans: No matter how big or small the farm, you’re going to need equipment to ensure its success. Equipment loans can be used to help buy things like tractors, grain bins and farm trucks.  

Real Estate: This loan is for growing or expanding your land. 

There are a variety of options available to farmers in terms of loans. Let us help you figure out a loan tailored to meet your business needs and goals. 

Stop Spending Money With These Strategies

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Do you feel like you have a sufficient income, but never any money? You’re likely spending more than you realize on non-essential items. This often happens to those who don’t have a budget established. If you’re guilty of too easily swiping your card, these strategies can help keep you in check. 

  • Know Your Triggers

Spending money thoughtlessly is what gets too many people into trouble and in financial positions they do not want to be in. If you seem to have developed a bad habit of spending money, it’s important to not only figure out why, but what triggers you to overspend. 

These are common triggers for other overindulgent habits: 

  • Time of Day – Let’s say you frequently shop for groceries after work. You may want to consider shopping when you have more energy to make wise purchase decisions instead of buying thoughtlessly at the end of the day when your energy is low.
  • Mood – Think about the last time you spent money unnecessarily. How were you feeling? If you know that anger is a trigger for you to overspend, stay far away from the temptation in those moments.
  • Environment – What’s going to a mall or a favorite department store going to do for you? Likely, it will make you want to shop or feel guilted into spending money. Only take cash with you next time so you can’t cave in.
  • Lifestyle & Social Media – While there are great benefits to social media, it can cause what is known as FOMO or the fear of missing out. If you see others living a certain lifestyle, it may trigger you to purchase items to have a similar life so you feel a sense of belonging.

Do any of these sound familiar to you? Create a game plan for avoiding these triggers or an alternative option when you feel the urge to spend because of these scenarios. 

  • Think About Your Company

Our friends should bring out the best in us, but that isn’t always the case. Be careful who you spend time with and if they pressure you to spend money in order to hang out with them. Let them know your new savings goals and if they can’t respect this until you have your spending under control, it might be time to create some distance in the relationship. 

  • Track Your Progress       

Don’t just wonder if you’re doing better on spending. Keep track of what’s going out of your account weekly. Knowing you are doing well can be motivating!

  • Budget, Budget, Budget

We believe any plan or goal you have in life should be supported by a budget. This is incredibly true for getting in control of your spending. Know what money you have coming in (income) and going out (bills). If you don’t do this, you will keep spending because you think you can afford it, when you really don’t know if you can. Create a category and have a set dollar amount for each category. This includes more set expenses like a mortgage but also flexible ones like groceries. This budget is for you, so make it as specific as you need for success! 

If you’re ready to get serious about curbing your spending habits, we can help you take it a step further to make sure you have everything you need to successfully stick to a budget. Whether it be our online banking features or competitive savings accounts, we’re happy to help – contact us today!

How To Set Up Your Holiday Budget

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The holidays set back many Americans into debt every year. Last year, the average incurred per person was around $1,000. It’s never too early to start deciding what your holiday budget will be so that you aren’t fretting over overwhelming debt in the new year. If you haven’t set up a budget before, the holidays are a perfect place to start. 

1. Start with what you have. 

Every budget should begin by calculating what you have. This means having an exact tally on what income you and your household bring in each month. If your income is irregular, take the average of what you have brought in the last few months. You can’t know how much to budget for if you don’t have an idea of what you have coming in each month. 

2. Take note of every current expense. 

What are you really spending each month? Some people like to play the “ignorance is bliss” game, but it makes having a budget and comfortable savings nearly impossible. Review your bank transactions from the last few months and write down every bill you can expect to come in. What are you spending your money on? Are there areas where you can cut back? Some people don’t even realize how many subscription services they are signed up for and these monthly dues add up. Organize all of your bills either in an online spreadsheet or a piece of paper. 

3. Calculate the surplus.

Now, take that income and subtract your monthly expenses. Do the numbers surprise you? Whatever is left over doesn’t mean you can spend it all on the holidays. You need to now categorize the additional money. 

4. Allot an item to each dollar. 

Every dollar in your bank account should be accounted for – whether that be emergency savings, bills or holiday shopping. It’s up to personal preference, but you should consider what your goals are beyond the holiday season before you contribute a large amount of your savings towards the season. 

5. Plan!

Now that you know how much you are willing to save and spend on the upcoming holidays, it’s time to get specific on those purchases. If you’re buying gifts for people and this is a top priority for you, set a dollar limit on each person. If food or traveling this season is more important to you, set a limit. Being over-prepared can take the stress away from this fun time of year. Knowing your limits will help to challenge you in creativity and self-control. 

If you need help setting up a savings account, give us a call so you can be ready for this holiday season!