‘Financial Help’ Archives
Smart Holiday Budgeting: Enjoy the Season Without the Financial Hangover
By JEAN CHALIFOUX KEILY, EVP – Director of Consumer Banking, Sunrise Banks The holiday season can sneak up on us — between parties, travel, and gifts, expenses add up fast. While planning early is ideal, it’s never too late to start making a plan that keeps your spending in check and your stress low. Creating a Budget That Works for YouStart by reviewing last year’s spending: How much did you spend, and on what?Were you paying it off in the new year?Did you account for travel, food, and decorations? Use that information to guide your budget for this year. Include every expense — not just gifts — and build in an extra 15–20% for inevitable last-minute purchases. Budgeting apps and tools can help you track purchases and see where your money goes in real time. Check in weekly to stay accountable. The bonus? You’ll have data to make next year’s holiday planning even easier. Determine Priorities and Set BoundariesIt’s easy to overspend when you feel [...]
Investing for Beginners: Easy Ways to Get Started
By AMANDA THEISEN, Communications Manager for Sunrise Banks Think investing is only for the super-rich? Think again. You don’t need millions—or even thousands—to start growing your money. Whether you’re saving for something in the near future or planning for retirement decades from now, there are beginner-friendly ways to dip your toes into investing. High-Interest Savings AccountsA non-interest savings account won’t get you far. Many only pay around a 0.05% annual percentage rate year. That’s just 50 cents on $1,000. But some savings accounts offer much better rates.A high-yield savings account (sometimes called a money market account) pays more interest and still lets you get to your cash when you need it. They’re perfect for emergency funds: safe, accessible, and earning you more than the change you’d find under your couch cushions.If you don’t need instant access, look at a Certificate of Deposit (CD). With a CD, you agree to leave your money in the account [...]
Five Smart Money Habits to Teach Kids Now
By AMANDA THEISEN, Communications Manager for Sunrise Banks Summer is almost over, and kids will be heading back to school in a few short weeks. As they dive back into reading, writing, math, science and other subjects, this is also a good time to give them a hands-on lesson in managing money. A University of Cambridge study found that children typically form habits around money and spending by age seven. Additional research shows that parents, not friends, are a child’s biggest influence on their attitudes and behavior with finances. Here are five sustainable money habits you can teach the young people in your life now, so they’re set up for financial success later in life. 1. Save a Portion of All Money Received Age-Appropriate Starting Point: Age 5+Encourage kids to set aside a percentage of all money they receive—whether from allowances, gifts, or part-time jobs. A simple breakdown could be the 50/30/20 rule: put 50% towards spending, 30% [...]
