Be Selfish, Pay Yourself First

by Stacy Tharp 13. January 2015
Let me rephrase that - paying yourself first isn’t selfish, it’s smart. But we should back up. What does it mean to pay yourself first? You (hopefully) have a monthly budget that includes your bills and day-to-day expenses. Paying yourself first means that before you take anything else into account, you first set aside a pre-determined portion of your income into a savings account. So let’s say you want to save 20% of your income, and your monthly take-home pay is $3,000*. You ... [More]

Down Payment Savings Tips for the Newbie Home Buyer

by John Stephens 31. July 2014
Saving enough for a 20% down payment on a home can be one of the toughest financial challenges most people will ever take on. With the median existing U.S. single-family home price at about $213,000, that means pulling together more than $40,000 – a veritable mountain of cash. Yet reaching that goal can be done. It just takes planning, patience and discipline. Here are some tips to help you map your path to home ownership: [More]

Mom, You Want Me to Put My Money WHERE?

by Stacy Tharp 1. June 2012
Let's face it - putting money in a savings account isn’t exactly the most exciting thing to do with your hard-earned cash, even for adults.  If you find it difficult to motivate yourself to save, imagine how kids feel about saving.  Here are some tips on how to help motivate your kids to save money and become financially responsible individuals: 1) Give your kids a weekly allowance and help them set a budget. Have your kids agree to an amount that they should save weekly and ... [More]

© 2008- 1st Mariner Bank