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Tips & Tricks

Healthy Financial Habits

Tips for Healthy Financial Habits

Posted On: January 12, 2021 by First Option Bank in: Financial Wellness, General, Tips & Tricks

Many American workers save for retirement with a 401k plan. If your job offers a 401k plan as a benefit, it’s important to take advantage of it and interact with this short learning experience to determine how to maximize the money you are putting into it. This lesson will explore: The different types of 401k plans Common features of 401ks, including funding options, limits, and tax savings Options and restrictions around withdrawing money from your 401k CLICK...
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Tags: Financial Education, Financial Habits, Financial Wellness

Debt Management Education

Posted On: January 5, 2021 by First Option Bank in: Financial Wellness, General, Tips & Tricks

Approximately 80% of Americans are in debt – but debt is always a bad thing! Credit cards, student loans, and mortgages are all examples of debt. Learn how to make a plan to manage your debt, with insights around: How to determine how much debt is too much How to calculate your debt-to-income ratio Different strategies to help you pay down debt Reference   CLICK HERE To Learn More
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Tags: Debt, Debt Management, Financial Education, Financial Wellness, Personal Finance

Lessons on Creating a Budget

Lessons on Creating a Budget

Posted On: December 29, 2020 by First Option Bank in: Financial Wellness, General, Tips & Tricks

Only about one third of Americans create and maintain a budget – are you one of them? A budget can help you stay on top of your finances by helping you plan where your money will go instead of wondering where it went. This short lesson will help you learn more about how to: Identify your income sources as well as your expenses Create a new budget or reevaluate an existing one Apply strategies to monitor your spending and stick to your budget

Reference
 

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Tags: Creating a budget, Financial Education, Financial Wellness, Personal Finance, Tips & Tricks

When to Collect Social Security Education

When to Collect Social Security Education

Posted On: December 22, 2020 by First Option Bank in: Financial Wellness, General, Tips & Tricks

Even if you have a great savings plan in place, Social Security can be an important source of future income. Take our short lesson to learn more about Social Security and how you might plan to use it to support your living expenses in retirement. We will explore: The significance of Social Security to your retirement income How the timing of collecting Social Security affects your benefits Evaluating how much of your retirement expenses Social Security will cover
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Tags: Financial Education, Financial Planning, Financial Wellness, Retirement, Social Security, Tips & Tricks

Certificates of Deposit Education

Certificates of Deposit Education

Posted On: December 15, 2020 by First Option Bank in: Banking, Financial Wellness, Tips & Tricks

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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Tags: CDs, Certificates of Deposit, Financial Education, Financial Wellness

Market Insights with Mike

Market Insights with Mike | December 11, 2020

Posted On: December 11, 2020 by First Option Bank in: Investment Services, News, Tips & Tricks

 

Tags: Financial Services, Financial Wellness, First Option Financial Services, Investments, Market, Market Insights, Market Update, Mike McCauley

Planning for a Financial Caregiver Education

Planning for a Financial Caregiver Education

Posted On: December 8, 2020 by First Option Bank in: Financial Wellness, Tips & Tricks

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 loved ones Read More

Tags: Financial Caregiver, Financial Education, Financial Wellness, Planning, Tips & Tricks

Market Insights with Mike

Market Insights with Mike | December 4, 2020

Posted On: December 4, 2020 by First Option Bank in: Investment Services, News, Tips & Tricks

 

Tags: Financial Services, Financial Wellness, First Option Financial Services, Investments, Market, Market Insights, Market Update, Mike McCauley

Small Business Financial Statements Education

Small Business Financial Statements Education

Posted On: December 3, 2020 by First Option Bank in: Banking, Financial Wellness, Tips & Tricks

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...
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Tags: Financial Education, Small Business, Small Business Financial Statements, Tips & Tricks

Small Business Saturday Financial Education

Small Business Saturday Financial Education

Posted On: November 28, 2020 by First Option Bank in: Financial Wellness, General, Tips & Tricks

In honor of Small Business Saturday, we want to help you take steps toward building the business you’ve always dreamed of. Visit our financial education center to learn more about: How to develop a business plan Getting and using credit for your business costs The common financial statements you’ll use
CLICK HERE To Get started

 

Tags: Business, Business Owners, Financial Education, Financial Wellness, Tips & Tricks

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