This summer you may be going on vacations, starting a home renovation project, or just simply performing daily tasks that life throws at you. At the bank, we are busy collecting auction items for our annual month-long Auctions in August event where the proceeds will go to hundreds of non-profits because... giving matters.
It is here and it is real. Inflation means that prices are going up for the things that we use and buy. The best and most obvious examples are groceries and gasoline. When you get to the checkout counter, your grocery bill is higher than it was last month. When you fill your car with gas, the price is higher as well.
4 Smart Money Moves for College Graduates
College graduates are beginning to enter a very strange job market. The unemployment rate is high, but not because of a shortage of jobs. Some potential workers are afraid to return because of health concerns, some do not have childcare, and others are enjoying unemployment benefits.
Can I Afford a Vacation
In general, you need to carefully consider all of your options before you vacation and with a little effort you should be able to afford one. As always, feel free to contact one of our bankers today to discuss banking products that may fit into your financial plan.
FOMO and Real Estate
FOMO, or the "fear of missing out," is one of many reasons why the residential real estate market bubble is growing so rapidly. Homes are selling quickly, often above asking price. There are even more realtors than properties listed for sale. While FOMO will always be evident, there are three other reasons why properties are selling so quickly.
Expect to see inflation and higher taxes in the next few years following the U.S. government spending programs enacted to bring relief to our economy during COVID-19.
Tips for Filing 2020 Taxes
The due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. Here are some tips to help you file:
Show Me the Money
A new COVID relief package of $1.9 trillion was passed by Congress and signed by President Biden on March 11, 2021. The big takeaway for most is that individuals who make less than $75,000 will receive checks for $1,400.
Swimming Naked with GameStop
Bank investment accounts are a great way to build net worth, but keep in mind that betting on volatile stocks can be even more risky than going to the casino.
PPP and More
As the vaccine rolls out in our region, we are very optimistic that our country can return to normal in the near future. In the meantime, please feel free to check with your local bank to see what sort of help might be available to meet your needs.