Financial Wellness

Happy holidays from all of us at First Option Bank! We know this can be a busy, expensive time of year, which makes it especially difficult to stick to your budget and avoid overspending. With a few financial education tips, you can build a holiday spending plan that works for you, while setting yourself up for a happy new year.

Visit the First Option Bank financial education center for insights including: 

How to use your credit cards responsibly this holiday season  How...

U.S. Census Bureau data shows that on average, men in the United States retire at age 65 and women at age 63. There is a discrepancy between that reality and the expectation that younger Americans, aged 18-29, predict they will retire earlier at 63 years old.

No matter your age or your expectations, the best time to start planning and saving for your retirement is right now. 

There are different strategies and vehicles to help you jump into your golden years. Visit the...

In this month’s recap: Stock prices notched solid gains as a strong start to the corporate earnings season fired up investors.

Monthly Economic Update

Presented by First Option Financial Services, November 2021

U.S. Markets

A strong corporate earnings season renewed investor enthusiasm for stocks and propelled the market to healthy gains in October.

The Dow Jones Industrial Average advanced 5.84 percent while...

Business financial statements don’t have to be intimidating, and understanding how to read them can help your business thrive. Learn about the three primary financial statements that are critical tools for managing your business: income statements, balance sheets, and cash flow statements.

This lesson will help you:

Understand the importance of business financial statements Learn how to use income statements, balance sheets, and cash flow statements Explain how business...

Financial independence can be difficult to maintain once you or a loved one becomes ill or mentally impaired. While you can’t plan for every circumstance, there are decisions you can make now that will help make potential unforeseen situations easier.

This short course will help you:

Explore future situations where you might need a financial caregiver Compile the documents needed to create a financial plan Discuss the topic of appointing a financial caregiver with...

Anyone with assets, dependents, or specific wishes for how they want to be taken care of in old age should consider estate planning. Putting off these decisions can cause unnecessary stress during what is already a difficult time for your loved ones.

Learn how to start planning, with insights around:

Why you should consider an estate planning strategy The differences between wills and trusts and the different options available Considerations that should be discussed during...

Certificates of Deposit, or CDs, are a type of financial account designed to hold your money for a fixed amount of time with low associated risk – and you earn guaranteed interest in return! Learn more about what is involved in opening a CD to decide if this saving tool is right for you.

This lesson will cover:

CD options offered by financial institutions How to calculate your interest earnings The pros and cons of CDs, compared to other accounts

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In this month’s recap: Stocks hit some turbulence, turning cautious amid slowing economic growth, and policy debate in Washington.

Monthly Economic Update

Presented by First Option Financial Services, October 2021

 

U.S. Markets

The stock market hit a pocket of turbulence in September, with investors turning cautious amid Delta variant infections, slowing economic growth and ongoing policy debate in Washington.

The...

Being a financial caregiver for a loved one comes with many expectations and demands. In caring and supporting someone else, it’s also important to make sure you are taking care of yourself.

If you’ve been asked to become a financial caregiver, or are considering asking someone to serve as one for you, our course can help you:

Understand the ideal emotional, physical, and mental traits of a financial caregiver Explore different caregiver roles and their associated...

Companies with a business plan can grow 30% faster than companies without one – so what are you waiting for? Business plans can seem daunting, but understanding the components can simplify the process and help put you and your company on a path to growth.

This course will give you guidance on:

Understanding the importance of a business plan Developing your own strong business plan Using your business plan to secure funding

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