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?”Did you know that more than a quarter million U.S. college students spend a semester or year at foreign universities studying abroad? It has become a very popular part of the college experience with nearly every college in the country offering some sort of study abroad program. However, there is a lot to think about before your student hops on that plane to another country and culture.
Continue reading “Your child is studying abroad – what you need to know”If you’ve ever been a part of a Municipal government – in leadership, city council, Board of Ed or a finance committee you will completely understand how daunting money management can be. Not only are you dealing with budgets and all the pressure that goes along with creating the right one, hoping it gets approved and makes everyone happy (or the majority at least), but you also need to make sound decisions when it comes to your investments and portfolio management.
Continue reading “Municipal Money Market Accounts – why they make sense”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 a world full of automation, it seems to make sense to add paying your bills electronically to the growing list of things that can be done by technology. Not only is it FREE to use automatic payments, but it saves you money – buying checks, postage, envelops, etc. – and time! Continue reading “The Advantages of Automatic Payments and E-billing”
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”
