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Budgeting

Offers 7 Tips to Eliminate Debt Faster

Offers 7 Tips to Eliminate Debt Faster

Posted On: April 19, 2022 by Farmers Trust & Savings Bank in: Budgeting

Consider using these tips to take control of your finances

One key ingredient to saving more money is to eliminate debt. Below are seven tips on how to pay down debt faster.

Use tax refund — A new year brings a new tax season. If you are expecting to receive a tax refund in 2022, consider putting all or a portion of that refund toward a debt you want to eliminate this year. Put salary increases toward debt — If you receive a salary increase in 2022, use...
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5 Questions to Consider Before Purchasing Your First Home

5 Questions to Consider Before Purchasing Your First Home

Posted On: March 8, 2022 by Farmers Trust & Savings Bank in: Budgeting, Home Ownership, Money Management

Owning a home is a great investment, but before jumping into the market it is extremely important for consumers to consider the costs involved and budget accordingly to ensure they’re able to meet all of their financial obligations.

Farmers Bank encourages consumers to consider these questions before beginning their housing quest:

How much money do you have saved up?‚Äč
Start with an evaluation of your financial health. Figure out how much money you have for a...
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Woman using a calculator

Tips for Developing and Maintaining Good Credit Habits

Posted On: December 27, 2021 by Farmers Trust & Savings Bank in: Budgeting

Farmers Bank and the Independent Community Bankers of America (ICBA) are encouraging customers to plan for their financial future by establishing and maintaining good credit habits to create a blueprint for financial wellness and prosperity in the New Year.

Good credit is essential to a strong financial foundation, so it’s important to build and maintain responsible credit practices that demonstrates sound money management principles to help you achieve your short and long-term...

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Giving Your Child an Allowance: How to Get Started

Giving Your Child an Allowance: How to Get Started

Posted On: September 13, 2021 by Farmers Trust & Savings Bank in: Budgeting

Giving children an allowance is a great way to introduce them to the concept of financial responsibility. The hands-on experience children receive from handling money can go a long way toward developing financial literacy.

Simply giving them money each week isn’t enough, though. For children to get the most value out of their allowance, it needs to be accompanied by lessons on responsible spending. While this may be time consuming, it will prove valuable to them as they grow older.

For...

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Tips During Low Interest Rate Periods

Tips During Low Interest Rate Periods

Posted On: April 20, 2021 by Farmers Trust & Savings Bank in: Budgeting

With interest rates at record lows, consumers face a number of choices for managing their money.  Whether they want to save, spend or invest, consumers are encouraged to consider their options and choose the strategies that best suit their particular financial circumstances.

         Tips for low-interest-rate periods:

Consolidate debt.  With interest rates at historic lows, it makes sense to consolidate debt into one low-interest loan. For...
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Tips for Creating a Budget

Tips for Creating a Budget

Posted On: January 8, 2021 by Farmers Trust & Savings Bank in: Budgeting, Money Management

During any economic times, it is more important than ever for families to develop a budget and stick to it. Rainy-day funds, savings for college, or just making your rent payment can all be made easier with a budget. Farmers Bank supports its customer’s efforts to budget and save by offering expert guidance.

A financial goal can be very motivating, whether you are saving for a family vacation, a down payment for a house or a new pair of shoes, if you stick to a plan, you’re...

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