How to create an emergency fund (before the emergency)
December 10, 2021 / F&M Trust
Name an emergency situation with a relatively large price tag. If you answered roof repair or replacement (or any major home repair), a new transmission for your car, emergency medical expenses not covered by insurance, or living expenses after a job loss, you have a good understanding of what an emergency fund can be used for — and how important it is to have one.…
Tax Law Changes: The American Families Plan and how it might impact you
October 14, 2021 / Erin Sunday
President Biden’s ambitious American Families Plan is billed as “an investment in our kids, our families, and our economic future.” That investment comes to life in the form of programs designed to help families cover the basic expenses with which so many struggle, lowering health insurance premiums, and continuing the American Rescue Plan’s historic reductions in child poverty.…
How to teach kids financial responsibility with an allowance
September 20, 2021 / F&M Trust
The debate over whether to give kids an allowance is as old as the practice itself, but the benefits of giving kids an allowance are clear. Kids who get an allowance are more financially savvy later in life than those who don’t, and are less likely to abuse credit as adults.…
Is a personal line of credit right for you?
November 19, 2020 / Sarah Stansfield
A personal line of credit (PLOC) enables borrowers to withdraw funds for a set period of time – known as the “draw period” – on an as-needed basis. A draw period can last for several years. Lines of credit are helpful if you need access to cash…