Tag Archives: family

7 Absolutely FREE Activities for the Kids

Financial Education

Whether it’s during the summer or after school, keeping your children occupied takes a truly creative mind! This season, Raccoon Valley Bank is excited to share some of our favorite and affordable activities for all of your little ones to enjoy!

 

  1. Take advantage of your local library and their summer and afterschool programs. Even if it’s only an hour a day, this simple strategy can keep your child learning while they play, saving you some green along the way. To bring that fun home, register your child for a library card, and show them how to check out books and take them back. ! Extra tip: If you make a game out of reading, such as who can finish a new book first, you may even instill a passion in them for reading and learning.
  2. Set up camp in your backyard, tent and all. There’s nothing like the great outdoors, except when the indoors are just steps away! Ease your little one’s into the wilderness by creating a camp in your own backyard. You can complete the evening with a s’more roast, campfire stories, and stargazing to make the most of the nighttime.
  3. Bike around town, and enjoy a pit stop at the park. Set a route for a bike ride, and see if you can end at a park close to your home. The bike ride can allow your kids to explore the town, and burn some extra energy before winding down with some playtime outdoors.
  4. Head out for a swim at your local state park and enjoy the cool water or beach. Every state has some unique local parks, many with their own watering hole! Instead of paying the fee to visit your local pool, consider making a day trip to enjoy the warm sand and cool waters of your nearby rivers or lakes. For extra savings, pack a lunch and cooler to make the most of your day without having to spend a dime on admission or food.
  5. Create a fun scavenger hunt around your home or neighborhood.  A scavenger hunt can be as simple or as complex as you make it. For some of the younger kids, it may be beneficial to keep it around your home. However, if you have pre-teens to keep occupied, creating a neighborhood or town-wide scavenger hunt could be the perfect afternoon activity. Setting up the scavenger hunt ahead of time, will help you plan your route, and determine the best prize for those who finish it.
  6. Bring some grub, and have a picnic at the park. You can do this fun-filled activity for lunch, dinner, or both! Pack a bag or cooler with some great bites to eat, and find a table or bench at your nearby park. The kids can run and play for a bit, and then come enjoy a delicious homemade meal before diving back in for round two. If you want to really make this activity sweet, pack some of these individual cherry pies for dessert!
  7. Volunteer for local organizations and give back to your community. Keeping busy isn’t always about entertaining your children or yourself. Sometimes, it can be about something greater, like helping others. Organizations such as The Salvation Army, your local Food Bank, and the County Humane Society, are always looking for helping hands to assist in their day-to-day activities. Let your little ones choose which one they want to be a part of, and see if volunteering once or several times a week can fit into their schedule!

 

We love getting children involved in personal finance at an early age. If you’re searching for more affordable activities for your little one to enjoy, consider some of these fun-filled games to help them understand the basics of personal finance! Everything from mobile apps to hands-on activities can help them grow their own financial education.

When to SAVE and When to SPLURGE

Budgeting

When you and your sweetheart set your budget each month, there are a variety of factors at play. Where can you get the best deals on groceries? How many date nights will you have each week? Do the kids have any sporting activities that require new equipment? At Raccoon Valley Bank we recognize that everyone’s budget is different. No matter which categories you enjoy most, we’d love to showcase some great examples to help you find extra ways to save, and better identify which costs are worth the splurge.

 

SAVE: The best areas to find savings.

 

  • Weekly Groceries: If you don’t need the atmosphere or the free samples, there are numerous discount grocers which can save you BIG for weekly grocery runs. Coupling those savings with a pre-planned menu, and sale scanning can further reduce your overall food costs.
  • Kids Activities: During both the summer months and those after school hours, you may find yourself searching for activities to keep your children occupied. Whether that’s going to the pool, attending various summer camps, or finding an after school caretaker, keeping your kiddos active can be easier said than done. To help reduce these costs, we recommend season passes to recurring parks/activities, along with fun and affordable activities at home, which you can do with a number of household supplies.
  • Exercise: If you have ever purchased a gym membership you didn’t use, you are not alone! Many Americans see a gym membership as automatic attendance, when truly, it may be easier for you to workout at home. With so many new calisthenic exercises, yoga, and free-weight routines, there are a variety of tools out there to help you stay in shape without having to pay that monthly membership fee.
  • Travel: Searching “travel savings” on Google will inevitably leave you with pages of results. One fantastic tip we’ve found is purchasing travel through membership programs such as Costco, even if there’s not one in your area! There are countless reports of happy customers who not only saved money but had a much better experience when compared to booking it themselves.

 

SPLURGE: The expenditures worth the extra cost.

  • Budgeted Special Occasions: Occasions like your child’s birthday or you and your spouse’s 30th anniversary deserve a special treat. While we do recommend saving for these outings in advance, so long as the funds are budgeted for, feel no regret in celebrating your family’s happiness.
  • Childcare: Raising a child is no simple task, and for most parents the number one expense after a mortgage is childcare. We recognize that there are certainly savings opportunities to be had, however, in the long you’ll find that a friendly and reliable caretaker can make the world of difference on your child’s happiness, and your sanity, for years to come.
  • Healthcare: Your health and the health of your family members is paramount to everything else in life. Whether you’re looking to find a reliable family practice physician, or are seeking long-term care treatment, now is not the time to scrimp and save. Making sure that your family is well taken care of and continues to live a happy and healthy life means you’ll have plenty of time to save for nearly everything else life throws your way.
  • Toiletries: Toilet paper, toothpaste, shampoo, etc.; these are items you use every day. If you’re using poor quality products to save a few cents you may find yourself with dry skin or poor hygiene. While it’s not necessary to purchase the most expensive option available, know that spending the extra dollar or two is well worth the cost to avoid potential problems.

 

Whether you’re looking for a place to store your savings, or budget your spending, Raccoon Valley Bank has the perfect solutions for you. Stop by your nearest branch today and learn about our personal savings and checking services.

How to Plan Spring Break on a Budget

Vacation

Spring break is a magical time of the year when school is out, the beaches are calling, and wanderlust seems to finally hit at full force. Before you jet-set to your next destinations, make sure you’ve saved enough to enjoy this vacation, without the addition of debt. To help cut the costs, but not the fun, Raccoon Valley Bank offers these proven money saving tips:

 

  1. Split Costs – Make the most of your money, and divide the cost of a room between you and your fellow friends. Paying $150 a night may be a high price tag, but by splitting the cost, you can stay twice as long!
  2. Drive Instead of Fly – If your traveling troop decides to book a trip abroad, then this tip may not apply, but for eager spring breakers traveling south, driving instead of flying could save you hundreds!
  3. Try Alternate Accommodations – Who says a hotel is the only appropriate place to stay. With innovative new offerings on VRBO and AirBnb, you can find deals that not only save you money but offer a unique setting as well.
  4. Get Groceries – One of the most expensive parts of a vacation is the food. Cut down on this cost by hitting up the local grocery store when you arrive. You can grab breakfast items, and other easy foods to prepare to avoid exorbitant dining fees.
  5. Maximize Free Activities – Things, like going to the beach or relaxing by the pool, can be both enjoyable and cost effective. Since there are typically no entry fees, you can enjoy this fun-filled relaxation again and again.
  6. Bring Your Own- Everything is more expensive on the beach. Food, drink, shade, you name it! Instead of purchasing everything ala carte, pack a reliable beach kit, with everything you need for the day. Don’t forget sunscreen!
  7. Utilize Your Rewards – What’s the point of having travel rewards if you never use them? By putting those points to work, you can cover the cost of your flight and/or room, and reserve your money for food and fun.

Can You Really Save on Travel: True or False?

Save on Travel

Checking numerous sites for the best deal can be labor-intensive, and potentially counterproductive. With many American travelers turning to vacation book sites and apps, Raccoon Valley bank is curious if they really save you money. After thorough research, we’ve discovered these four truths to successfully budgeting your next getaway:

 

TRUE: Travel sites offer money-saving opportunities.

FALSE: The lowest value is found on the hotel’s or airline’s website.

 

Many travel booking sites offer discounted airfare and accommodation, boasting the same services, only at a fraction of the cost. However, many times these sites merely display the cost an airline or hotel already has on their own site at no additional reduction. Select providers have begun to reduce participation in these travel search engines, and strive to instead offer their continued customers the best value straight from their own corporation.

 

TRUE: Credit cards are the most secure and affordable payment option while abroad.

FALSE: Airport currency exchange is worth the convenience.  

 

While there are many different options to exchange currency before your next trip, the safest method of payment during your getaway will still be your credit card. With many options now offering no currency exchange fees, you’re sure to avoid unwanted conversions costs while still protecting your finances. According to both Visa and Mastercard, credit card users are held liable for zero percent of any fraudulent charges. This means that should your credit card information become compromised during your stay, you won’t lose any funds because of it.

 

TRUE: Traveling outside of the peak seasons offers great savings.

FALSE: The skiing in Colorado is great in June.

 

While it is true that avoiding the crowds can save you and your family some extra dollars, it may not be worth it if it means decreasing the activities of your trip completely. Instead of limiting your travel timeline, we recommend looking for alternative accommodations such as VRBO, along with creative dining options, to maximize your destination’s budget. These additional savings can help to bring your overall cost down, while still making your dream vacation a reality.

 

TRUE: You can save a lot of money by using airline miles.

FALSE: Airline credit cards are worth the annual fee for a yearly vacation.

 

Unless you plan to fly every month, an airline credit card is hardly worth the cost. While these cards offer tempting miles for flights, increasing numbers of travel options are blacked out throughout the year. The annual credit card fee for United, American, and Delta, costs approximately $95.00 after your first year of use. While boarding in group one can be a well-enjoyed perk, it doesn’t boast much ROI for fliers who are simply looking to reach their annual destination.

 

As you begin to plan your next vacation, Raccoon Valley Bank looks forward to helping you save the funds to make it happen. Stop in today and learn how to open a designated savings account today!

The Cost of Kids: How to Plan for Your Growing Family

Family Budgeting

At Raccoon Valley Bank we understand that adding to your family may not only be an emotional decision but a financial one as well. With the growing costs of childcare alone, it’s important to have a well-rounded plan for covering the expenses of your expanding household. In order to plan most effectively, we recommend structuring your budgeting into these three stages:

 

Beginning or Before Pregnancy: Examine your current health insurance to determine an estimate of cost for both prenatal care and delivery expenses. While many insurers offer prenatal care at no or little additional cost, the price for delivery can be complex. Study your monthly premium, annual deductible, and out-of-pocket limits for the calendar year to help establish these costs before the baby is delivered.

 

After Birth: Once the baby is born, there will be traditional costs such as health care, food, diapers, clothing, and more. However, many new parents also spend more on take-out meals to help lessen their time cooking. These expenses, along with a decrease in income for parents on maternity leave, can cause many parents to slide into debt. To help alleviate the burden of these growing figures, we recommend creating a monthly budget to designate every dollar to a purpose. By allocating a specific dollar amount to each area of your spending, you can ensure that all of your costs are covered while also planning for the future.

 

During the First Year: As your child continues to grow, the costs for new clothes and equipment will continue to grow with them. Many expectant parents can spend upwards of $16,000 during the first year of their child’s life, and variables such as location, number of children, and other factors can contribute to the overall costs as well. When possible we recommend saving for each step in your child’s growth. From birth to three month’s they’ll need many one-time purchases, but during the later stages, you may have adequate time to save for each time period’s necessities.

 

Continue to grow your finances as you grow your family using Raccoon Valley Bank’s trusted deposit services. We’ll help you organize your funds, and make the most of your savings.

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!

4 Ways New Homeowners Can Save on Their Taxes

Mortgage

Becoming a homeowner is an exciting and trying time in your life. Once all the papers are signed, and the keys turned over, it all seems worth it. That is until a pipe bursts, lightning knocks out a tree, or your dog decides to burst through the screen door. Not all hope is lost however. In return for your endless work, and commitment to a never ending to-do list, the U.S. Government has provided four tax-based ways to reward you for your new home ownership. See how to take advantage of these four tax breaks, and make the most of your home purchase:

 

  • Early IRA Withdrawal: For many new homeowners, securing the initial down payment can be the first hurdle in their real estate journey. If you’re a first-time home buyer and have an IRA, or Roth IRA, the IRS will allow you to withdraw up to $10,000, penalty-free, to aide in the cost of your new dwelling!
  • Valuable Deductions: Between your mortgage interest, mortgage insurance, and real estate taxes, your home deductions could make a big dent in your taxable income. When preparing your taxes as a new homeowner, be sure to bring any mortgage documents, and escrow account information, to your tax professional to gain the full benefit of the deductions.
  • Renewable-Energy Tax Credit: Did you upgrade your home appliances to more efficient and environmentally-friendly options? Did you install a geothermal system in your home? If so, this helpful tax credit may be able to take a portion of that improvement cost out of your deductible income!
  • Tax-Free Profit on Sale: When you go to sell your home, the IRS allows you to avoid the capital gains tax on the profits you generate from the sale. This means that if your home’s value goes up $35,000 in the two or more years you live there, you are then able to retain the additional $35,000 your home is sold for without having to pay any taxes on those funds. One other major stipulation of this benefit is that in order to avoid the capital gains tax, you must purchase a new home as your primary residence within the next two years.

With these key homeowner tax breaks, the next thing to put on your to-do list is to make a plan for those tax refunds! If you have questions on how to best budget for your new home, don’t hesitate to stop in. We’d love to talk taxes, financing, or other improvement ideas you have for your home!

Scary Sweets for Halloween

Halloween

At Raccoon Valley Bank, Halloween is one of our favorite holidays! We love resurrecting recipes each year for both neighborhood and community Halloween parties. Before you start planning your next Halloween bash, be sure to add these dangerous delicacies to your list of spooky specialties!

 

Witch’s Fingers: These pretzel rods add a delicious and haunting bite to any attendee’s plate! Simply cover each pretzel in melted bright green chocolate and attach an almond at the tip. Make them even more realistic by painting the almonds black with food coloring, and adding creases in the fingers.

 

Bug Cups: Surprise your guests with these crawling cups. Comprised of gummy treats, jello, and crushed Oreos, this easy desserts will entertain your party as they dig their way through the tasty treat.

 

Witch’s Brew: Filled with pickled beet and ogre’s toe, this gruesome drink will give you all the energy you need for a fun-filled evening of trick-or-treating. For the adults concocting this brew, you may find a mix of orange juice, sparkling grape juice, and sparkling apple juice will make for a the most fruitful potion.

 

Pumpkin Cake: A magical Halloween sweet, this delicious pastry is created to look just like a jack-o-lantern. Remember to customize your design with your family’s favorite pumpkin carving!

 

Halloween Cookie Cake: Covered in slime and bark, this famous treat is the perfect treat for exhausted halloween monsters. Give your little monsters a slice after trick-or-treating or before watching a family scary movie!

 

Caramel Apple Nacho Bar: Tailor your recipe to your own terrorizing tastes with this ooey gooey spread. You can choose the best ghoulish garnishes for you and your guests!

 

Jello Worms: Scare your friends with these creepy crawlers. Just combine your favorite jello, plain gelatin, and hot water to get these critters moving.

 

Jack-o-Lantern Pies: Be sure to scoop up these horrifying hand pies for your next event. With a simple crust, and a scrumptious filling, these decadent desserts are sure to be a hit at any fall festivity.

 

Butterbeer Hot Chocolate: For all the witches and wizards out there, this classic drink will make you want to say, “Repello Muggletum!” Get started and craft a cup for one, or for the entire place, this is a recipe you’ll want to try again and again!

Money Lessons at Every Age

Money Lessons

Money Lessons At Every Age

No matter what your age, there are always exciting new aspects to understand in the realm of money management. This year help your children get a head start on their financial education with these key lessons courtesy of Raccoon Valley Bank.

 

2-5 Years Old: The Three Jars Activity
In your child’s youngest years it is important to give them a basic financial understanding. You can help your little ones comprehend savings, spending, and donating through three simple jars. Each week give your child 50 cents or a dollar, all in quarters. It is then their decision whether they want to save it for a bigger toy or purchase, spend it on something smaller, or donate it to help others in need. This activity works to help create a general thought process of the three common ways to spend or accumulate funds.

 

5-13 Years Old: Budgeting Basics
For everything from buying groceries to new clothes for school, you can help your child learn how to budget by setting a spending limit for your various shopping trips. By allowing your little ones to participate in the purchase process, you can help educate them in the importance of staying on or under budget. Let them help you find bargain deals or clip coupons to reduce cost. When the expenditures come in under the budget, reward their efforts with a small treat.

 

14-18 Years Old: How to Build Your Financial Reputation
Correctly making payments is a pinnacle point in proper money management. Whether it’s purchasing your first car, home, or other personal purchase, learning how to correctly pay off your loan, can be the difference between good and bad credit. Get started on this important lesson with a quick tutorial on how you pay any monthly bills or debts. Show your child your system to give them an introduction into how the process will take place. Once they choose to purchase a car or other item through a personal loan, you can walk them through the payment process online, and help them make a calendar of when installments are due.

 

Whether your little one is two or twenty-two, there is always something new to learn. Stop by Raccoon Valley Bank and see how you and your family can improve your money management skills today!