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Budgeting

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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5 Questions to Consider Before Purchasing Your First Home

5 Questions to Consider Before Purchasing Your First Home

Posted On: January 19, 2021 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?​
Start with an evaluation of your financial health. Figure out how much money you have for a...
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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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