All checking accounts are not the same, especially when it comes to choosing the right account for your young adult. Banks like Litchfield Bancorp – A Division of Northwest Community Bank have a student checking account specially designed to meet your child’s needs.
So what sets a student checking account apart from a traditional checking account?
Continue reading “What is a Student Checking Account and Why Does Your Child Need One?”Working in the world of banking and finance, I often get asked by parents how early is too early to teach their children about money. When should they open accounts in their child’s name, should they give them access to it, or how soon is too soon to give them a debit card?
First and foremost, it ’s really never too early to teach children about money and finances, the earlier they learn the value of money and how to manage it the better off they will be later in life. Continue reading “Finances – What your children need to know”
This is a question we get asked a lot at Litchfield Bancorp and it’s actually a very common question regardless of whom you bank with. Protecting the customer plays a huge part in why ATM and spending limits are imposed. Should your debit card happen to be lost or stolen, you wouldn’t want the fraudster to be able to clean out your entire checking account. Continue reading “Why does my Debit Card have spending and ATM limits?”
In the age of PayPal, mobile payment apps like Apple Pay, and the use of automatic bill pay, the days of using the checking account register seem to have passed. BUT balancing your account really shouldn’t be ignored. You’d be surprised at how many people overdraw their accounts simply because they don’t balance their checking account! If you’ll take 15 minutes to balance your checking account, you’ll stay on top of your budget and avoid bounced checks and overdraft fees. Continue reading “How to balance your checkbook and keep from being overdrawn”
Most parents keep their finances hidden from their children. You don’t want your kids to worry about mortgage payments or that dentist bill that’s causing you stress. While your intentions are good, you’re preventing your child from learning valuable lessons about money. Continue reading “Young Money: Your Child’s First Bank Account”
