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Family Finances Articles

Bring your family together to create a financial plan.

Learn About Family Finances

Get the conversation about family finances started with these helpful articles about budgeting, financial caregiving, debt management tips, credit scores and reports, mortgages, insurance, and more.

All Budgeting and Goals Credit: Score and More Family Finances Fending Off Fraud Invest, Invest, Invest Paying Off Debt Personal Finance 101 Homeownership Retirement Filing Your Taxes Student Loans For Teens
What Is the Best Savings Account for Kids The success of child savings accounts has been well documented. We can probably all agree that a savings account for kids is a good decision, but what is the best savings account for kids? First Bank offers a savings account called MyFirst Savings and it’s not hard to argue that it might just be the best savings account for kids. Here’s why: It’s just for kids. MyFirst Savings is exclusively for children under the age of 18. It’s easy and affordable to open. There’s only a $10 initial deposit required to open the account and it can be done simply by visiting one of First Bank’s 100+ locations throughout the Carolinas. The money will grow. There’s no minimum balance to earn interest so your child’s money will start growing from the day the account is opened. You’ll have access to the money. You can make two withdrawals per month with no First Bank fees and with our online and mobile banking you’ll be able to always keep an eye on your money.* You’ll be kept in the know. Free monthly paper or electronic statements provide you a record of the account history and our email, phone call or text message activity alerts notify you of each transaction that happens in the account. Opening a savings account for children is one of the best things a parent can do. And in order to open the very best savings account for kids, simply visit your nearest First Bank today. Or to simply learn more about the account, visit the MyFirst Savings page and download a free coloring book for your child featuring Troy the Plott Hound! While First Bank does not charge for mobile banking, your mobile carrier’s message and data rates may apply. 2. Withdrawal fee of $2 each after the first two during the month. Federal regulations limit withdrawals of preauthorized transfers to two (2) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. You may conduct an unlimited number of withdrawals at the ATM, in person at a branch, or by mail when the check is mailed to you. 2 min read
Saving for College – North Carolina Paying for college begins well before your child ever sets foot on campus. Saving for college from day one is an effective way of combating the rising costs of today’s colleges and universities. There are nearly 200 colleges in North Carolina and with our numerous branch locations, First Bank helps students from across the state afford a college education. Save for College with First Bank First Bank offers several options for college saving for children in North Carolina. MyFirst Savings is a savings account for children under the age of 18. Set up the account when your child is young and begin funding it. You can deposit birthday money from relatives, inheritances or money your child earns from working a job in high school. The account earns interest on any balance so you’ll begin growing your money from day one. Everywhere Savings is a basic savings account that begins earning interest with any balance. Campus Checking is a convenient account for students heading into or already attending college, with no monthly fees*. Secured Card allows your student to start to safely build a credit history before going or while away at school. Our HELOC leverages the equity you have in your home for large purchases and can even be used for college tuition. Getting an early start is the key to saving up for college but it’s never too late to start. If you begin contributing to a savings account now, your child could have the necessary funds to get them through college. Student loan debt can be a long-term burden for you or your new college graduate. Begin building a bridge to your child’s future today with a savings account from a North Carolina First Bank. *Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep it Fee FreeTM section of the account summary table for their account type. Other account service fees may apply as described in the Account Services Fee Schedule available on our website at fees or at your local branch. Federal regulations limit withdrawals or preauthorized transfers to six (6) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. You may conduct an unlimited number of 3 min read
Image for tile. 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. Here, we take a look at the numbers. 1 min read
Insurance agent showing family an ipad screen Considering Long-Term Care Insurance? Read This First If you’ve worked hard, invested wisely and had some luck, you should have enough income after retirement to live comfortably. But what happens if you develop a chronic illness or disability in your golden years? 4 min read
Table of different Thanksgiving food Give Thanks for These 5 Thanksgiving Savings Tips Thanksgiving is in just a few weeks, but it’s not too early to start shopping for the best deals on food, decorations, and beverages. If you’re hosting a house full of friends and family, you don’t have to spend a fortune to enjoy the holiday. 2 min read
Off to College Hidden Costs of College (And How to Cut Down) College is expensive, that’s no surprise. But what you might not expect is how easily the extras, from books to housing, can add up. We dig into the sneaky costs of college and how you can be better prepared. 4 min read
Loung chairs and pool outside house Are Timeshares Worth It? We’ve all heard it before: the timeshare pitch. But timeshares can’t be all bad, right? If you’re considering a timeshare purchase, take the time to weigh the pros and cons. 3 min read
Money and Marriage Money and Marriage: The Good, the Bad, and the Ugly A marriage merges 2 hearts, 2 lifestyles, and in some cases, 2 bank accounts. Expert opinions vary on whether couples should maintain separate accounts or combine their finances. Let’s take a look at some of the pros and cons of each option. 6 min read
Consoling a family member with a terminal illness How to Prepare Financially When Facing a Terminal Illness Learning that you or a loved one have a terminal illness isn’t easy. There will be a range of emotions you must cope with, and unfortunately, plenty of administrative, medical and even legal decisions that will be need to be made. Being prepared and educated on what you or your family member might face both medically and legally can help make the otherwise difficult decision-making process more manageable. 3 min read
A college campus sidewalk with building in the background How to Get Help Paying for College With the cost of college rising each year, it’s refreshing to hear about companies and organizations that are stepping up to help pay the way. We’ve highlighted a couple of options for students, whether you’re able to work your way through or heading straight to college from high school. 3 min read
Baby walking You’re Having a Baby! Keep These 7 Things in Mind As you prepare to welcome your little angel, it’s important not to overlook more worldly considerations. We spoke to three First Bank team members about financial considerations for every soon-to-be parent. 3 min read
Getting Married You’re Getting Married! Keep These 8 Things in Mind Getting married is not a small feat for many reasons – among them, marriage represents a new stage in your financial life. We asked three First Bank team members about what financial issues soon-to-be newlyweds need to discuss. 3 min read

Explore Courses to Grow Your Personal Finances

Illustration of a piggy bank with an umbrella above it. Building Financial Resilience Learn how to bounce back from financial setbacks. 11 Topics
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Illustration of charts and account notes. Financial Basics Get off on the right foot with the right financial tools. 13 Topics
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