The Startling Cost of College

There’s a startling financial truth for those enrolled in college and recent graduates: a higher education almost always comes with a significant price tag—and debt.

Below, we take a look at the numbers. But don’t worry! We’re here to help you whether you’re planning for school, in the middle of your education, or a freshly minted graduate. Come see us today.

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Calculate your Balance Transfer If your current credit card isn’t meeting all of your needs, consider switching to a First Bank credit card. First Bank now offers the option to transfer your balance from your current credit cards to a First Bank credit card with no fee.* We even have a balance transfer calculator on our website so you can find out exactly how much money you will save by switching to a First Bank card. Save Money with a First Bank Card First Bank’s MasterCard credit cards feature awesome benefits such as: Rewards for making every day and monthly purchases.* Credit card access benefits like online customer service and 24-hour access. Security benefits like zero liability and ID theft resolution. Convenience benefits like a 26-day grace period and MasterCard Global Service®. Shopping benefits like price protection and extended warranty. With a First Bank credit card you can: Consolidate all your debt on to one card, with one easy payment. Save money when you transfer the funds from your old card to your First Bank MasterCard. Avoid the fee other credit card companies charge for each balance transfer. Calculate Your Savings Whether you are a current First Bank customer or a customer of another financial institution, you can save money by transferring your credit card balance to our First Bank MasterCard. We offer MasterCard credit cards for qualifying individuals and business owners. You can even use our balance transfer calculator to calculate just how much money you will be saving by transferring your credit card balance to a First Bank card. All you have to do is input your current credit card balances and rates, and we’ll tell you your new cost per month and your savings per month. *Credit applications are subject to credit approval. See our Disclosure Summary for complete details on rates and fees. ——— Sources: Nolo: http://www.nolo.com/legal-encyclopedia/what-credit-card-grace-period.html Investopedia: http://www.investopedia.com/terms/z/zero-liability-policy.asp Mastercard: https://www.mastercard.us/en-us/consumers/payment-technologies/id-theft-protection.html Mastercard: http://www.mastercard.com/sea/consumer/global-services.html 2 min read

Finance 101: Banking Basics Finance 101: Investing in your financial future is one of the smartest things you can do. But there is more to building healthy finances than simply stashing away extra cash in your piggy bank. In this article, we cover a wide range of topics to help you learn the basics of finance and help you make educated decisions regarding your financial future. Checking Accounts For those new to finance, opening a checking account is a great first step. A checking account enables you to deposit money into an account that can be accessed by writing a check, using your debit card, or withdrawing money from your bank’s automated teller machine (ATM). The biggest advantage to having a checking account is that it keeps your money safe while allowing you to access it when needed. Unlike cash, if your debit card becomes lost or stolen your bank can put a stop on your account, prohibiting unauthorized users to access your money. Tips for using a checking account: Keep a running balance of your account to avoid overdrawing your account. Most banks charge an overdraft fee for purchases that are made with insufficient funds. Consider overdraft protection if your bank offers it to you. Familiarize yourself with your account’s minimum balance requirements. Savings Accounts A savings account is less accessible than a checking account, as the Federal Reserve limits the number of free transfers or withdrawals you can make from a savings account. According to Investopedia, “A regular savings account is easy to set up and maintain. You can usually link this type of savings account directly to your checking account at the same bank and quickly and easily move money between the two accounts. Having these two accounts linked can sometimes help you avoid overdraft charges and/or under-the-minimum-balance fees from your checking account.” Having a savings account can help you set aside money for emergencies and help you save for large purchases, all while earning interest. Credit Building and maintaining good credit will provide several advantages to you, including: Lower financing rates More negotiating power Attractive mortgage and refinancing rates Higher credit card limits and rewards While getting a credit card is a great first step to building your credit, maxing out your credit card, failing to pay your credit card bill 4 min read

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The Startling Cost of College

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