Blog Archive

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Tuesday, August 23, 2022

Should I Keep Cash at Home?

Hundred dollar bills stuffed under a mattress.We’ve all heard of a family member or friend who swears keeping cash at home is safer than in a bank or credit union, especially during times of inflation. While it may be tempting to hide away your nest egg in your sock drawer or stuffed under the mattress, keeping large amounts of money at home is one of the riskiest ways to keep your cash.

To safeguard your funds and your peace of mind, Community Financial is here to answer all of your questions about handling cash during times of inflation.

Why is it a bad idea to keep cash at home?

While it’s perfectly OK to keep some cash at home, storing a large amount of funds in your house has two significant disadvantages:

  • The money can be lost or stolen. Hiding cash under the mattress, behind a picture frame, or anywhere else in your house always carries the risk of it being misplaced, damaged, or stolen. As careful as you may be, circumstances beyond your control may cause you to lose that money.

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Tuesday, July 12, 2022

Raising Financially Independent Children

Child saving money while parents look on proudlyRaising children in today’s society has a variety of challenges, but none so timeless as the need to teach one’s children about finances. Financial education is a topic often missed in traditional schooling, leaving parents and loved ones to teach healthy financial habits on their own. While it may seem overwhelming to do so, raising financially independent children will help smooth the transition into adulthood, giving them the tools needed to achieve and maintain financial wellness throughout their entire lives.

 

To help get your financial education discussion rolling, we’ve compiled a variety of tips for raising your children to be financially independent.

 

Start with the Basics: Budgeting

 

Successful budgeting is the foundation of every financially independent household. You can introduce your children to the concept of earning money and spending it mindfully when they’re still young, and then build upon that knowledge as they grow older.

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Tuesday, May 3, 2022

How to Talk Finances with your Partner

Talking finances with your partner may not be your idea of a shared romantic moment, but communicating openly about how you manage your money is a crucial part of having an honest and trusting relationship. It’s fairly common knowledge that arguing about money is one of the leading cause of divorce in the U.S., and no one wants to be the next statistic. To avoid defensive behavior or friction, we’ve compiled a list of ways for you and your partner to have a comprehensive, yet productive, discussion about money.

 

 

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Tuesday, April 12, 2022

Financial Literacy Month Resources

Family

Did you know that April is Financial Literacy Month? While it’s a good idea to keep your financial education up to date all year long, now is the perfect time to take a step back and reassess your finances and the techniques you use to stay financially literate. Whether you’re looking to brush up on your own knowledge, or learn tips for teaching money-smart choices to your children, there’s always something new to learn. Below, you will find a handful of our favorite financial resources to help build your knowledge during this year’s Financial Literacy Month!

 

 

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Tuesday, March 22, 2022

The Best Way to Spend Your Paycheck

Spending

Everyone loves payday, but too many people struggle with allocating their paycheck in a way that best serves their financial needs. If you’re looking for a little extra guidance in utilizing your income effectively, we’ve compiled a list of tips below that will help you do just that!

 

 

 

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Tuesday, April 13, 2021

Free Financial Literacy Month Resources

While it’s always a good idea to put your finances first each month, April is extra special because it’s Financial Literacy Month! Whether you’re looking for new techniques to teach your children about money or you’re eager to brush up on your own financial literacy, there’s always something new to learn. Here are a few of our favorite financial resources to help build your financial knowledge this month!

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