Category: General

Best Practices for Protecting Your Data

data

Over the years, cyber hacking has been on the rise – nearly doubling from 2016 to 2017. Out of all of those attacks, 93% of all breaches in 2017 could have been avoided with simple cyber hygiene practices according to Online Trust Alliance. That’s why we’ve decided to give you some updates on the latest cyber security practices!

 

Don’t Click It

Hackers are getting more sneaky as to where they place their bugs. You may know not to trust a strange email from someone you don’t know, but what happens when you get an email from your university or a trusted place of business? Hackers have the ability to make their emails look more like something you could trust from a local business compared to the strange phishing emails you may be used to looking out for. Be extra cautious when reading through emails – and don’t click any links or download files if you weren’t expecting that in an email.

 

Turn On Two-Factor

Two-factor authentication gives you a second layer of protection if your data does get hacked. Many programs and devices offer this authentication choice, so use it whenever possible. This significantly increases your chances of staying safe from a cyber security hack.

 

Restrict Oversharing

By putting to much information on your sites, a hacker can use that data to hack into an account through your security questions. If you post about your adorable dog, Fido, chances are that dog’s name is in your password or security question. Also try to avoid posting your address, phone number, full name and so forth, as all of that can be used against you.

 

Generate Multiple Emails

We’ve all heard not to have the same password for everything – and we know many of you are still guilty of that. However, you may have not heard about having different emails for separate reasons. A good rule of thumb is to create three separate emails: one for strictly banking, another for emails to friends and family and one for all your stores and shopping coupons. This will help block hackers from getting into all your different accounts and finding personal data.

 

Install Ad Blockers

On any web browsers you use, be sure to install ad blockers or turn on your pop-up blockers. This will help save you from trying to X out of something and getting a virus that came up when you were searching online. Having any potential ads blocked will help keep your computer clean and your data safe!

 

We hope these new practices help protect your data from potential hackers. If you have any questions about your information being safe with us – no need to worry! We’re proud of our security practices and hope you will be able to say the same after making a few improvements.

How to Adult: Financial Starters

adult

It’s been said that youth is wasted on the young, but let’s not let that be true of those of you who are fresh into the adult world. We get it, many adults feel underprepared and overwhelmed at the amount of responsibilities that snowball after college or high school. Don’t fret! The fact that you are even taking the time to read this says that you are going to be okay. We have compiled a list of basic adult financial musts that will help you navigate this new terrain.

 

Build a Basic Budget

Many who have been in the adult world for years still do not have this down. Training yourself to say no to the short lived pleasures will translate to accomplishing your goals faster in the financial world and in other aspects of your life. You may finally be out of school and making a consistent income. This is exciting and scary as you see that the longer you are in adult world, the more expenses you have. This is why keeping a budget is crucial.

 

There are many different ways to budget, but one of the simplified ways is to break down your take home (net) pay and divide it by percentages. Dedicate 50 percent towards your living expenses such as rent, insurance and food. Allocate 20 percent towards savings and 30 percent towards good ole’ guilt free fun. This will help to ensure you are covering all of your bases no matter what your salary increases to.

 

Protect Yourself

While there are many new expenses being thrown at you, one crucial payment you can’t forget to make is that of insurance. Making sure you have quality auto, home and life insurance will help to provide cushion from a setback that could put you in the whole for years to come.

 

Automate it!

We already mentioned allotting room for savings in your budget and the easiest way to do this is to take the decision making out of the equation. Make savings automatically come out of your paycheck, and not only will you start building up an emergency savings, which is a crucial first step, but you will quickly accumulate savings for fun things like vacations or a downpayment on a house. You’ll be surprised how fast it adds up!

 

Educate Yourself

Just because you’re out of the schoolhouse doesn’t mean you should stop learning about the less exciting topics like finance. Take time to read influential financial books, talk to a trusted banking partner, or to a friend or family member whose financial habits you admire. Do you really have a grasp on what credit means and how to best use it? Simply ask and seek for answers, and no, we don’t mean just Googling your questions. The financial world doesn’t have to be intimidating, just start digging in!

Four Emotions That Are Interfering With Your Finances

emotions

Who doesn’t want a healthy financial life? Yet, the number of people who actually have one is decreasing. Americans’ total credit card debt grew by 8 percent in 2017, with an overall 12.96 trillion in debt. While there are many underlying factors, one component that can be limited in your budget is emotions. You may feel helpless when it comes to taking control of your finances, but one of the biggest hindrances is your emotional state. The good news is, where you are at doesn’t have to be where you stay!

 

Keep your finances in check by thinking through these emotions when it comes to financial decisions.

 

  1. Sadness

Most likely you have heard the phrase, “You can’t buy happiness.” Even though many might know this, they have purchase habits that speak otherwise. Negative emotions like sadness have twice the intensity of positive emotions. This creates a feeling of a need or weakness to be remedied. For many, this is impulse purchases such as new shoes or ordering takeout after a bad day of work. The next time you’re down, remind yourself of your goals that will inevitably make you happier in the long run. Maybe even make a list of what you are grateful for, instead of being down about circumstances beyond your control.

 

  1. Anger

Similar to sadness, acting on anger can have damaging consequences. You may even have a feeling of hatred towards money because you think it is the source of all your problems. Feeling like you are constantly struggling with your finances is frustrating, and can cause you to think there is no point in making wise decisions, so why not buy yourself that new TV? You’re angry and begin taking bigger risks than you should. Take a deep breath and remember that being consistent is key to success. Emotions are anything but steady.

 

  1. Fear

Have you ever been told that your money defines you? We are here to tell you that you define your money. Maybe you are out of debt, but are paralyzed from making investment decisions because you fear falling back into old habits and feelings of guilt. Perhaps you worry about being accepted in society, so you break your budget to buy the latest name brand sunglasses.

 

  1. Happiness

You’re happy, and that’s fantastic! Even so, emotions and finances don’t mix. If you let happiness rule your spending, you may lose sight of reality, becoming overconfident with the number in your bank account.

 

Letting emotions creep into your finances will slow you down in getting to your goals. Meet with a trusted financial advisor at Raccoon Valley Bank to help you make calculated decisions and create a monthly budget so you can set yourself on a path for success.

What Sports Can Teach Your Kids About Finances

sports

As a parent, you want to do your best to give your children a great childhood and prepare them to be successful, contributing members of society. One of the ways that many parents are doing this is by encouraging youth sports. They realize that there are great lessons learned from athletics like how to be a part of a team and physical health. It’s also a good way to get kids away from the screens! By the same token, you may not realize that sports, particularly pay to play, have additional benefits of teaching your children about money, if handled correctly.

 

Spending on youth sports has grown incredibly high. So high, in fact, that it has prevented many kids from being able to participate at all. It’s estimated that, spending has grown up to 10.5 percent of gross income.  While we certainly don’t recommend you sacrifice your retirement for your children to play, developing a spending plan within your budget, and including your children in the process will help them to understand that this does come at a cost. Yet, spending too much may have the reverse effect, putting extreme pressure on youth to perform worthy of the costs. It’s important to set boundaries, and stick to one or two sports. The more you involve kids in your finances, the more comfortable they will be with money in their adult life.

 

Earn

Most schools don’t teach financial literacy to minors, and even if they do, the national average of financial literacy is still at 59.6 percent. Instead of throwing money at the costs, have your children earn the money for participation or athletic gear. They could complete additional chores around the house, mow neighborhood lawns, or even help with training others younger than them. At any age, this is setting them up for the simple realization that things cost money, a concept muffled for many younger children.

 

Save

Encourage your children to save at least 15 percent of what they earn for next season, or incidentals. No matter what they are working for, it is incredibly important to teach them the habit of saving a portion of their earnings. This provides opportunities for them to understand spending on what you want now vs. what you may need in the future.

 

Give

Whether in time or their finances, helping your child understand that not every youth has the means to participate in pay to play sports, will be relatable to them in various ways later in life. If they would like to give a small percentage towards helping others pay for gear or participation it would be a relatable opportunity for them to understand how much meaning there is in giving. They could even give of their time to help mentor others refine their skills.

 

In whatever way you want to teach your children about finances, getting the conversation started is the most important step for them being comfortable and competent with money!

How Reading Can Improve Your Financial Well Being

Does being a reader make you more of a leader? Well that might be the case in life and the financial world.  When infamous Warren Buffett was asked about his success he pointed to a stack of books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.” Most likely if you’re reading this article, you already see some value in the declaration and are here for affirmation. However, for those of you who still aren’t convinced and maybe even guffawed at the notion of fitting in that much reading into an already hectic schedule, let Raccoon Valley Bank give you some insight to consider.

 

It’s a Low Cost Investment

Instead of taking an expensive flight to an expensive conference, you might consider swinging by your nearest bookstore. Because there is no limit to where knowledge can take you, investing in books is a low investment, with an infinite ROI. You can learn from the best in your business field, or pick up a novel.  The jury is still out on whether memory or comprehension is better with print vs. digital, so get what works best for your lifestyle. Owning the book is preferred if you want to become more engaged by writing in the margins, but stopping at your local library another great option!

 

Makes You More Employable

You can make a great difference in your success by expanding your education. Generally, knowledge cannot be lost. What you learn from reading a few books will set you apart, in that you already know something that has taken others years to learn from experience. Unfortunately, only 42% of adults will read a book after they graduate from college-just think about how much of an advantage that can give you! You will be a great resource for your team and have a greater ability to think on your feet because of the reading vitamins you consume. This makes you more desirable to potential employers and encourages a higher salary because of the value you bring to the workplace.

 

Boosts Brain Power

You’ve heard it said, knowledge is power. Are you unhappy about your financial situation? Pick up the Wall Street Journal or the financial matters section in newspapers. You are sure to gain a wealth of information to help you out of your current situation. Some studies show reading will help strengthen your analytical skills, increase your vocabulary and help you to prioritize goals. Your knowledge of the world will be stronger, and you may just notice your financial skills sharpening as your mind is being refined. This is especially true when you read chapter books, as it encourages deep reading and assessment.

The majority of what you read will not only make you a more rounded individual, it will help you to make more sound, financial decisions. You will be a greater financial asset to your company, and yourself. So grab a book, a hot cup of coffee and settle into your next lesson!

The Best Financial Quotes and How to Use Them

Quotes

There are endless famous quotes amongst Facebook newsfeeds and Reddit threads, however, time and time again people seem to hold fast to their favored stand-bys. For topics ranging on everything from love to education, the wise words of others seem to implement a perspective in our lives that may be left vacant otherwise. To help you achieve your financial aspirations this year, Raccoon Valley Bank would like to share the quotations we hold dear, to help encourage you along the way.

 

“Of this be sure: you do not find the happy life… You make it.” -Thomas S. Monson

 

The meaning of this phrase can be as simple or as complex as you see it. For us, it is a calming and reassuring reminder that the emergency fund, retirement plan, and vacation fund are all worth the effort. Unfortunately, no one will offer us a trip to Mexico for free, but with dedicated work and savings, WE can make it happen for ourselves and our loved ones.

 

“Attention is the rarest and purest form of generosity.” -Weil

 

This quote can be applied to both personal and business relationships. The more time you invest in a person, the more value they hold for you or your company. Whether it’s taking the time to answer customer questions, making it to your child’s basketball game, or simply being willing to pick up a phone call from a frazzled friend, giving someone your time is the ultimate connection to others. If you’re looking to improve a relationship, budget, or business, investing your time into it is the best place to start.

 

“If you define the problem correctly, you almost have the solution.” -Steve Jobs

 

Whether you’re working on restructuring your personal finances or trying to determine your most profitable product, the first step in finding a remedy is identifying the ailment. In the example of a budget, knowing what you’re spending, earning, and saving offers a visual into potential issues, so you can further adjust those efforts into a constructed monthly plan. This is the same with many things in life. By speaking with others, and getting all the cards on the table, you can ensure that problem is first made clear before the appropriate solution is determined.

 

“Never be afraid to try. Remember, amateurs built the Ark, professionals built the Titanic.” -Unknown

 

The worst action you can take is no action at all. No matter what challenge you are facing, always remember that the failure to act is the only true defeat. If you’re looking to start saving for retirement, expand your business, or tackle your debt, the first thing you have to do is start. No matter how you start, the biggest obstacle of your task will be committing to your end objective.

 

At Raccoon Valley Bank, we want to help you succeed in both your personal and financial life. If you need a helping hand with your next venture, stop by our nearest office, and we’d be happy to lend an ear.

 

Community Banking: Why It’s a Wonderful Life

Community Banking

As the seasons begin to change, and the holidays approach, our team at Raccoon Valley Bank would like to share all the wonderful reasons we are grateful to be a community bank. Just like Mr. George Bailey, in the classic tale, It’s a Wonderful Life, we have found countless people and experiences that make our bank lucky to consider this community home:

 

It’s all About the People: Unlike the big banks of America, our small and locally-owned operation prides itself on putting our people first, making the success of our customers the bank’s number one priority. Just like the old Building and Loan, Raccoon Valley Bank strives to help our customers make their home ownership dreams become a reality.

 

Growth Engine for Small Business: We succeed when you succeed. Just as George Bailey invested funds in Mr. Martini’s home and business, Raccoon Valley Bank is here to offer advice and financing on your next home or commercial project. We want to help you and our hometown community grow, just like Bedford Falls.

 

Built on Long Lasting Relationships: The movie’s guardian Clarence, was a very wise man saying, “No man is a failure who has friends.” At Raccoon Valley Bank we pride ourselves on not only helping our customers with their finances, but also building relationships with them as well. If you have a question on how to budget, which retirement plans to look at, or other money management inquiries, consider us your friendly neighborhood adviser!

 

Community Backed: Instead of being underwritten by Mr. Potter, or other national big banks, our institution is built directly upon the needs and wants of our community’s citizens. With no higher ups attempting to monopolize the town, our dedicated team of officers works to build up the community, and the men and women who call it home.

 

Employees Local Citizens: Just like George and Uncle Billy, Raccoon Valley Bank is filled with fun and loveable characters. We take great pride in employing local citizens throughout our company, and helping them grow within the banking industry. If you’re looking for a new career, stop in and see if Raccoon Valley Bank is right for you!

 

Get to know all of us at Raccoon Valley Bank and discover how community banking can help you achieve a wonderful life. For everything from personal financing, to commercial lending, we have the perfect solution for you. Get started today and share your next financial goal with us, we’ll help you shoot for the moon!

10 Things Successful People Do

Successful People

Ever wonder how Mark Zuckerberg or Richard Branson got where they are today? Success doesn’t come easy, but it grows where it is watered. At Raccoon Valley Bank, we want to help you climb into success with these simple tactics! Learn how to begin your journey to the top with these 10 key actions:

 

  1. Have maker time. No matter how many meetings there are in a day, schedule time each and every day to create, produce, and whittle down your to-do list. Not only will you get more done, but you’ll get more completed within your structured time!
  2. Prioritize your tasks. Sometimes that to-do list can be a mile long. Start your day with one main priority, and three sub tasks. Once these core items have been completed you can move on to the other smaller agendas you have for the day.
  3. Keep your values. Whether it’s making it home for dinner, or keeping on top of an evening health regiment, realize there are other values outside of work that need your attention too. Designate your time at work to do the most you can, so once the clock hits five, you know you’re scheduled to be somewhere else.
  4. Strategize your meetings. Do you need to be in every one of your meetings? Perhaps not! Speak with meeting organizers to determine if your input is truly needed and if so, could that be communicated through email instead? Time is precious, so make the most of yours!
  5. Say no. No is a powerful word. While you may not be able to say “no” to a supervisor’s request, when being asked to participate in additional projects, be selective and only join the workload you can handle appropriately
  6. Know when to delegate. You can’t do everything yourself. Invest time in your peers and ensure that if you need a task completed, they are up to the challenge. A great leader utilizers their team’s strengths and weaknesses, so be sure you’re putting the best person on each task.
  7. Create a daily routine. Everything from your morning breakfast choices, the various times you check your emails, to your scheduled breaks, you need to have a routine, and stick to it!
  8. Treat failure as a lesson. There’s a learning experience in every failure. By taking this simple mindset to heart, you can embrace the good that comes with every thwarted attempt. This insight helps not only grow your current project, but also broadens your mind to potential possibilities for future endeavors.
  9. Choose a mentor. The day you stop learning is the day you stop growing. One of the most effective things successful people do is to continue to learn. By never boasting a full cup, you can continue to add valuable knowledge to your repertoire and learn from someone who’s navigated many experiences you’ll soon face.  
  10. Wake up early. The early bird gets the worm! Whether you start work at 4:00am, 8:00am, or 8:00pm arrive early to collect your thoughts before your co-workers swarm in. During rush hour you’ll also notice an easier drive if you leave an extra half hour or hour early.

The Real Cost of a Fixer Upper

Fixer Upper

The Real Cost of A Fixer Upper

Throughout your real estate search, you’ve probably asked yourself the infamous question, “What would Chip and Joanna do?” With HGTV’s Fixer Upper series gaining popularity, more and more families are looking to buy inexpensive fixer uppers to fulfill their home buying dreams. Filled with projects, setbacks, and endless design potentials, these diamonds in the rough come with their own unique set of pros and cons. Luckily, Raccoon Valley Bank is here to help you discover the true cost to working through your own fixer upper.

 

Every home has different needs, but these are some key expenses you’ll need to plan for when purchasing a fixer upper:

 

  • Realtor Fee: if you’re selling your current property, be prepared to fork over the 6 percent fee to have your home sold. Ideally you’re looking to sell your home for a higher dollar than you purchased it for, but this is not always the case. Be sure to have some funds in reserve just in case you have to cover the realtor fee out of your own pocket.
  • Construction Costs: Typically divided into two billing arenas, you can expect to either pay one lump sum, or a calculated cost of labor, materials, and an added profit margin. Expect to pay $100-$200 per square foot of intensive renovation work.
  • Materials: The more upgrades you want, the faster your price will climb. While simply getting the property up to speed is a task all its own, creating your own customized space inside will continue to add dollars and cents to your overall bill.
  • Furnishings: Depending on the format of your last home, you may be upgrading your furniture in this new abode. After various searches and bargain finds, you’ll still need to tuck away and extra some extra funds to ensure you can furnish the home once it is finished.
  • Landscaping: Now that the house is complete, it’s time get to work on the curb appeal – and it isn’t cheap! With an average price tag of $5,000, finishing your home with a completed landscape design can also add to the overall budget.

Altogether, purchasing a fixer upper may cost about the same as a newer home purchase after the cost of renovations. The advantage to these love-needing homes however, is their potential for customization, and creating the ideal home for you and your family. If you’re looking to repair or update your next home, consider financing through one of our structured Home Equity Lines of Credit. Our experienced mortgage lenders are here to help you every step of the way!

The Most Common Phishing Scams and How to Avoid Them

Scams

The Most Common Phishing Scams

Phishing is a common term for the unfortunate schemes hackers and online criminals use to lure users into giving their personal information. Typically disguised as familiar online activity, these scam artists have cleverly found several distinctive ways to attempt to trick YOU into handing over your private details. Be on the lookout for these common phishing scams next time you’re roaming the web!

 

  1.   Foreign Lottery Scam

With this tactic you generally receive an email informing you that you have just won the lottery of some far-away land! To obtain these exorbitant funds you simply have to send a small fee to cover the transfer cost. A simple online search will show that this thrilling lottery is no more than phony website with a long distance phone number. Typically if the sending address doesn’t look familiar, or if you have not applied to any foreign lotteries, it will be a dead giveaway that this email is just an attempt to get your information and your money.

 

  1.   Survey Scam

Do you like supporting the humane society or other animal organizations? This scam takes advantage of your online history and sends you a survey to submit your opinion on issues that matter to you. Instead of using your responses on animal treatment, this system discovers your email address, and other relative personal information, to hack your account and send out further spam emails.

 

  1.   Online Banking Scam

Most phishing schemes disguise themselves as something familiar, often as PayPal or even your personal bank. This particular scam typically indicates that some type of immediate action is needed, and your financial account is at risk. Before sending any type of reply communication, check the source of the email, and call your personal contact at the organization to see if the email is legitimate. If you question the validity of any portion of the email, delete it and call the company this con artist is attempting to masquerade as ASAP.

 

  1.   Clickbait

Social media has a hacking arena all its own. With links scattered across newsfeeds, it’s often hard to determine what is genuine and what is clickbait. Clickbait is a link generated using common controversial issues to get you to click on it. Once clicked, the link may switch to a Facebook login, where you login again. Unfortunately this false login page is a common maneuver by cyber criminals to get your social media login. Having this information, online criminals can now access your account and spam the people you are connected with.

 

If you think you’ve been a victim of an online phishing scam and your personal banking information has been compromised, call Raccoon Valley Bank. We’ll help you watch for signs of identity theft within your personal bank accounts.

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