Tag Archives: Tips

The DO’s and DON’TS of Using Credit Cards

creditcard

Using a credit card is a great stepping stone to help boost your personal credit history. By proactively managing your ongoing finances, you can showcase to potential lenders that you know how to fulfill your repayment promises. What many people don’t know, is that simply having a credit card does not automatically indicate an increase in your credit score. To help you succeed with your credit, Milledgeville State Bank has put together our most commonly asked do’s and don’ts of using credit cards.

DO: Pay your balance in FULL every month or every two weeks.

DON’T: Keep a balance even if the interest rate is low

While keeping a balance less than 30 percent won’t drastically harm your credit score, it’s always better to be safe than sorry. We recommend never spending more than you can pay off each and every month. By keeping yourself to this standard you can make certain to never become a victim of expensive credit card debt.

DO: Choose a card that will compliment your lifestyle.

DON’T: Pick your credit card based of mail or TV offers.

There are countless websites and app centered around helping you find the ideal credit card. Instead of signing up for a credit card through the mail, start perusing sites like NerdWallet to discover which card fits not only your spending but your rewards preferences too! Before you start applying, remember to only apply for a credit card if you need one If you plan on using more than one, wait six months or more before applying for a new line of credit. This will help to keep your credit score on track and assist in preventing any unwanted dips.

DO: Use reward points to save money.

DON’T: Spend more just to get additional points.

While some credit card options certainly do offer some great sign-on rewards, remember that added debt and expenses are never worth the hike in points. The money you manage is yours, and it’s real! While the points are truly a great perk, never let them outweigh the tangible money you currently have in your individual accounts. If you allow this to happen you may find yourself with a mountain of debt, the equivalent of half the vacation you can no longer afford to take.

DO: Have more than one card when you can pay them all off on time.

DON’T: Cancel a credit card without researching its history.

There are certain cards that boast the best rewards when utilized for specific industries, and others that can add extra perks for those all-encompassing purchases. To make the most of these various benefits, we recommend using multiple credit cards for your household’s purchases, only once you’ve maintained a zero balance on one for more than six months. If you feel confident in managing multiple credit cards, you’ll find great advantages of using the rewards behind the various programs and their associated bonus structures. However, if you close a card, always check and see if that card holds your longest history of a credit line. Should that be the case, you may not want to cancel it, as it could create a slight dip in your credit score.

Did you know Milledgeville State Bank offers credit cards too? If you’re looking to boost your credit, or want to begin building your history with a local institution, our dedicated staff would love to help you get started. Simply stop by your nearest location, and we’ll help find the perfect fit for you and your spending.

10 Things Successful People Do

Personal Finance

Ever wonder how Mark Zuckerberg or Richard Branson got where they are today? Success doesn’t come easy, but it grows where it is watered. At Milledgeville State Bank, we want to help you climb into success with these simple tactics! Learn how to begin your journey to the top with these 10 key actions:

Have maker time. No matter how many meetings there are in a day, schedule time each and every day to create, produce, and whittle down your to-do list. Not only will you get more done, but you’ll get more completed within your structured time!
Prioritize your tasks. Sometimes that to-do list can be a mile long. Start your day with one main priority, and three sub tasks. Once these core items have been completed you can move on to the other smaller agendas you have for the day.
Keep your values. Whether it’s making it home for dinner, or keeping on top of an evening health regiment, realize there are other values outside of work that need your attention too. Designate your time at work to do the most you can, so once the clock hits five, you know you’re scheduled to be somewhere else.
Strategize your meetings. Do you need to be in every one of your meetings? Perhaps not! Speak with meeting organizers to determine if your input is truly needed and if so, could that be communicated through email instead? Time is precious, so make the most of yours!
Say no. No is a powerful word. While you may not be able to say “no” to a supervisor’s request, when being asked to participate in additional projects, be selective and only join the workload you can handle appropriately
Know when to delegate. You can’t do everything yourself. Invest time in your peers and ensure that if you need a task completed, they are up to the challenge. A great leader utilizers their team’s strengths and weaknesses, so be sure you’re putting the best person on each task.
Create a daily routine. Everything from your morning breakfast choices, the various times you check your emails, to your scheduled breaks, you need to have a routine, and stick to it!
Treat failure as a lesson. There’s a learning experience in every failure. By taking this simple mindset to heart, you can embrace the good that comes with every thwarted attempt. This insight helps not only grow your current project, but also broadens your mind to potential possibilities for future endeavors.
Choose a mentor. The day you stop learning is the day you stop growing. One of the most effective things successful people do is to continue to learn. By never boasting a full cup, you can continue to add valuable knowledge to your repertoire and learn from someone who’s navigated many experiences you’ll soon face.
Wake up early. The early bird gets the worm! Whether you start work at 4:00am, 8:00am, or 8:00pm arrive early to collect your thoughts before your co-workers swarm in. During rush hour you’ll also notice an easier drive if you leave an extra half hour or hour early.

7 Amazing Winter Savings Tips

After shoveling snow or walking in and out of blustery winds all day, nothing beats stepping inside a warm, toasty home. However, it’s not just electricity burning to keep you warm, but your cold hard cash. Save money this winter with these around-the-home winter additions from Milledgeville State Bank.

Pump up your tires: Low tire pressure kills gas mileage, and as temperatures drop, so will the pressure in your tires. Buy a tire gauge for $1 at an auto store, and fill up at a gas station offering free air. Just double check your manual to make sure you’re not over-filling.
Make use of socks and hats: Your feet and your head are vents for the body, helping you let off steam when you overheat. Unfortunately, this doesn’t stop during the winter months. Trap natural heat with wool or polar fleece hats and socks as you pad around the home, and the rest of your body will be grateful.
Keep blinds closed: Obviously, keeping your blinds wide open during the day helps soak up warm sunlight. Keep that heat contained at night by shutting the blinds to provide extra insulation.
Secure your garage: If your house is separated from your garage by nothing but a door, heat will trickle out and cold will creep in. Add a sweep to your garage door, which is a noting more than a metal strip easily screwed into position under your door, to block out drafts.
Replace your furnace filter: A forced air heating system removes dust from the air by catching it in a filter, making it easier to breathe. However, a clogged filter means the fan must run longer to circulate heat through your home. Replace the filter regularly for a quick and cost-saving fix.
Close off unused rooms: Guest room or sitting area used only for special occasions? You’re heating up a whole lot of nothing, if that’s the case. Manually shut the vents in unused rooms to redirect heat elsewhere, and slide blankets under door cracks and around windows to stop warm air from trickling in.
Insulate your water heater: Lightly touch your tank hot water heater – is it warm, or is it hot? If it’s the latter, drape it in an insulating blanket to keep heat trapped in the tank. Otherwise, it escapes to its surroundings, which makes the tank run longer and harder – and makes you burn more money.

A couple of small changes add up to big differences in the end. Milledgeville State Bank has a number of personal savings account options to invest all that money you’ll save by saving energy this winter, so look around and let us know how we can help!