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LIFE STAGES

The Family

Family – and Finances – Come First.

By the time you have a family of your own, there will be new expenses – lessons for your children, family vacations, saving for college or buying a home. Now is the time to revisit the financial goals you set earlier in your life and adjust your spending, budgeting and saving to make sure you stay on track.  With all the demands a family places on your income, it is still important to build your long-term investments.

Planning and discipline are key, we can help!

1. Understand your credit report – Your financial behavior over the past seven years, including how much credit you have, how long you've had it, and whether you pay your bills on time, is information included in your credit report. Three credit reporting agencies — Equifax, TransUnion and Experian – maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification. 

Equifax –  www.equifax.com
TransUnion –  www.transunion.com
Experian – www.experian.com

Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will repay a loan. Your credit score can also influence the interest rate you pay. In many cases the higher your score, the lower your interest rate.

2. Check out First National Bank & Trust's rates – Once you understand your credit score, check out our loan rates.

With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at First National Bank & Trust that meets your needs.  Stop by and talk with one of our lending officers.

  • Home purchase
  • Home re-finance
  • Construction Loans
  • Installment Loans
  • Home Improvement Loans
  • Second Mortgage Loans
  • Home Equity Loans
  • Home Equity Line of Credit

3. Start Saving for College – By starting early, when your child is in preschool or earlier, you can build a realistic fund through the power of compounding over many years. Though it may seem far away, save now while time is on your side!

529 Savings Plan

  • No Limits. Anyone can contribute.
  • Earnings can grow free from federal tax, and withdrawals for qualified high education expenses are free from federal tax.*
  • Owner (parent or grandparent for example) maintains control of the assets, decides when withdrawals will be made and can change the beneficiary.
  • You can move assets among funds once each calendar year or when you change beneficiaries.

Certificates of Deposit

 

Student Loans

  • Applications for federal student aid are available from your high school guidance counselor, public library or college financial aid office. Go to www.fafsa.ed.gov for online information.
  • Federal Federal Consumer Loans  –  These loans offer a broad range of terms and can be used to pay for major educational expenses (including a car loan to get you there) conveniently and affordable.

* These tax benefits are effective through 2010 unless extended by Congress. Consult your tax preparer.

4. Conserve time, money and paper with First National Bank & Trust’s convenient checking accounts with online banking and bill pay and Debit Card Rewards – pay bills, check balances, and access your money faster with these convenient services.

Whether it's a free, no-frills account, an interest-bearing option, or maximum convenience, we have what you're looking for. Compare and Choose!

5. Improve Funds Availability and Save Time and Money – Take advantage of Direct Deposit and enjoy the benefits of never having to deposit a paycheck again! Our scheduled deposit service will work with your employer to automatically deposit your checks into the accounts you specify, on time, every time!

6. Start Saving for Retirement – Many people underestimate the amount of money they’ll need in retirement. When planning, be realistic about major expenditures, e.g., will your mortgage be paid off?  Do you plan to buy a vacation home or travel extensively?  Will you have to pay for your own health insurance?  These and other financial considerations all come into play.

Now is a good time to up your contributions to your retirement savings accounts.

Retirement Calculator / Mortgage Calculator