Savings

Buying a home is a major achievement—and investment! Mortgage payments help build up equity in your home over time, but there are changes and upgrades you can make to your home in order to increase its value, resulting in a bigger return on your investment.  Homeowners should look for simple, cost-effective ways to increase their home’s value, especially if they plan to sell in the future. Take a look at these 5 ways to increase your home’s...
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How much to save is a subject that gets much discussion and a variety of answers in the world of personal finance. The truth is, there’s no one-size-fits-all dollar amount because it all depends on your situation, goals, budget, and ultimately, income. That being said, let’s take a look at some general guidelines on how much you should be saving in different stages of your life. The 50/30/20 Rule A popular answer to “how much to save” is the 50/30/20 Rule, from a book...
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There is no doubt that we could all use a vacation after this year! But that doesn’t mean we’re ready to blow the entire bank account on a trip. You just need to know how you can get savvy about saving on your vacay. Check out these tips for planning a summer vacation on a budget!  Set a Budget Before You Plan  Just like we suggest not searching for houses or wedding dresses before you set a budget, you’ll save yourself some heartbreak if you set a budget...
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How much can I reasonably spend on a home? This is a question every single prospective homeowner asks before purchasing a house, and this is exactly what we want them to be asking! While buying a home is a great financial investment to start building equity and wealth, no one wants to be house poor. Create a budget for yourself by using the tips below or jump straight to our mortgage calculator.  Save for a Down Payment and Closing Costs  A...
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Becoming a homeowner for the first time is no easy task! You’ve probably heard horror stories from friends about overpaying or missing a crucial piece of information before committing to an offer. Here are a few tips to help you prepare for buying your first (or next) home so you feel confident in the home buying journey! Before You Buy  Start Saving Early – the earlier you start saving, the better! Many first-time homeowners assume they just need to save...
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With rates continuing to be low, now is a great time to purchase a home! It may seem daunting at first, but it’s a great experience and can be fun if you are prepared. Whether you are a first-time homebuyer or have purchased a home before, keep reading to see how much money you need to buy a home.  You may not need the full loan amount offered.  While you can get a loan for a large amount of money, you may not want to get that full amount. Think about all...
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With spring comes a freshness that everyone enjoys. There’s different weather, new things are happening and the winter blues begin to fade away. Spring also brings spring cleaning! The Middlefield Banking Co. wants to focus on different actions you can take to spring clean the way you save. By giving you six ways to save this spring, we hope you can begin to enhance your financial journey.  1. Find Ways to Go Fee Free  If certain...
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  Budgeting can often feel like a daunting task. Finding a way to budget for your monthly expenses, such as phone bill, rent, mortgage, etc., is just the halfway point of your budgeting voyage. You also might want to consider ways you can put money aside for occasional larger expenses like a vacation, wedding or a new computer. In this post, we explore the best tips you can follow to budget for larger expenses. Plan Ahead Many people will tell you that planning is the key to budgeting....
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Being prepared for a financial crisis or hiccup can take time. Building up your emergency fund isn’t something you can do overnight, but working at it day by day or month by month is an easy way to become prepared without seeing a huge decrease in your funds. But how much is enough? We’re here to let you know!  How much should I save for an emergency fund?  How much you can save will depend on where you are at in life. You will have debts, monthly expenses,...
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Whether you’ve been looking for a while or have just decided to begin the hunt, buying a home is an exciting adventure! With rates so low, it’s the perfect time to become a new homeowner. But do you know some of the things you should be doing before stumbling upon your dream home? We’re here to explain our top four steps to home buying so you can enjoy the journey.  Know How Much You Can Afford  Even though you could get a loan for $300,000, this may...
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