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Personal Finances Articles

From personal finance to paying off debt, credit score insights, and more — you’ll find everyday financing basics here.

Learn About Everyday Finances

Understanding how to manage your money is the first step to financial health. To help our communities, we’ve compiled articles with helpful tips for stretching your hard-earned dollars further. For a deeper dive on financial topics below, you can also check out our financial wellness courses.

All Budgeting and Goals Credit: Score and More Family Finances Fending Off Fraud Paying Off Debt Personal Finance 101 Homeownership Retirement
High-Interest Savings Accounts in South Carolina Why should I settle for a regular savings account when I can take advantage of a high-interest savings account? If I’m going to store my money away, I may as well get the highest interest on it that I can. While the above statement is true, it’s important to understand the difference between a traditional savings account and a high-interest savings account. In South Carolina for example, First Bank offers a Money Market account with interest rates that are higher than the basic savings account options offered. However, there are some further requirements for high-interest savings accounts as a trade-off for the better interest. Money Market Account vs. Basic Savings Account Let’s break down some of the differences of a high-interest money market savings account when compared to First Bank’s most basic savings account so you can be sure you’re selecting the savings account that is right for you. Initial Deposit Basic account: Only a $50 minimum deposit is required to open the account. Money Market: You’ll need an initial deposit of $1,000 to open. How to Avoid Monthly Maintenance Fees* Basic account: You can avoid First Bank’s monthly maintenance fees just by keeping a $300 minimum daily balance. Money Market: In order to steer clear of monthly maintenance fees, you’ll need a $2,500 minimum balance or an average collected balance of $5,000 or more. ATM Withdrawals** Basic account: Enjoy two free withdrawals per month within the approved network. Money Market: You have the luxury of 6 free monthly withdrawals within the approved network. High-Interest Savings Accounts in South Carolina There are 6 First Bank locations in South Carolina offering high-interest savings accounts and basic savings accounts alike. And there are many similarities between the two as well. Each offer such amenities as online and mobile banking, monthly electronic statements, account activity alerts, mobile check deposit and more. Use our account comparison chart to see the two savings accounts side-by-side and visit your nearest South Carolina First Bank to open the one that’s right for you. *Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep if Fee Free™ section of the account summary table for their account type. Other account service 3 min read
Savings Account Interest Rates in North Carolina Whether you’re saving for retirement or starting a college fund, having the right savings account can help you reach your financial goals. With some of the most competitive savings account interest rates in North Carolina, First Bank offers a variety of options to meet your financial needs. Types of Savings Accounts at First Bank When you’re comparing interest rates, it’s important to understand which accounts offer the best rates. At First Bank, we offer six different savings accounts with varying interest rates: Everywhere Savings—For simple savings at a competitive interest rate, this account offers free online and mobile banking, account alerts, and free eStatements. MyFirst Savings—If you’re under 18 and ready to start saving, consider opening a MyFirst Savings account. You only need a $10 deposit to open the account and don’t have to worry about a minimum balance or maintenance fees. Money Market—With higher interest rates and instant access, our money market account allows you to have six free withdrawals per month, free online and mobile banking, free eStatements, and more. CDs—If you don’t need immediate access to funds, this option provides flexible rates and guaranteed rates of return. CDs typically offer higher interest rates than savings and money market accounts, making them a great investment option. IRAs—At First Bank, we offer a variety of IRA options for your long-term retirement plans including traditional, Roth, and SEP IRAs. Talk to one of our banking experts about the different rates you’ll receive if you choose to open up an IRA. Health Savings Accounts (HSA)—For a great way to save on current and future medical expenses, consider opening a health savings account. This account allows you to manage health care spending and earn tax-advantaged savings. Use our Account Comparison Chart to decide which savings account is best for you. Get Competitive Interest Rates at First Bank Interest rates will vary depending on which savings account you choose. Regardless of the type of savings account you open, we want to make sure you’re getting a good rate. Consult with one of our banking experts at your nearest First Bank to compare interest rates. Open a Savings Account Today Visit one of our North Carolina branches and talk to a financial expert about getting 3 min read
An illustration of a woman working in an office 5 Financial Tips for Your 30s Your thirties are a great time to get a handle on your finances and start investing in your future. 3 min read
Smartphone with First Bank's MyMoney app running in online banking. New Year, New Budget It’s a great time to make sure you have a solid budget in place and a good plan for how to move forward with your finances. 3 min read
Image for tile. Have You Heard of Smishing? It Sounds Ridiculous, But It’s a Real Threat Over the past year, there has been a huge increase in scammers using text messages to pose as banking institutions alerting you to possible fraud. This has been a wide-spread issue that has affected the banking industry, but we wanted to address it directly to make sure you have the tips and resources you need to stay safe. 4 min read
Infographic header financial wellness journey It’s Never Too Late to Start Your Financial Journey A little financial education can go a long way to help your employees manage their money and plan for the future. This infographic below, lays out some startling facts about why now is the time to boost financial savvy. 1 min read
Man holding baby smiling at camera Are You a Financial Wellness Wiz? Take our quick quiz to find out! Create your own user feedback survey If you got: 1-2 points: Good start! We’re here to talk you through the basics and to help you plan for the future. Also be sure to check out our free financial basics course. 3-4 points: Well done! You’ve got the basics down; but if you need help planning for a big purchase or life event, we can help. Start with our free course: Major Life Events. 5 points: Look at you go! Capitalize on all that great financial savvy with the right mix of tools and products you need for your plans. No matter your score, we’re committed to helping you achieve your dreams (big and small!). Visit your local branch today, or give us a call. Let’s start something amazing together. 2 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
Image for tile. Why Having the Latest is the Greatest: Update Your Browser Today We’ve got a secret weapon in the fight against the fraudsters who are trying to steal the data off your computer or mobile phone: having an up-to-date web browser. 2 min read
Image for tile. Happy National Financial Literacy Month! April, like any month of the year, is the perfect time to take a look at your spending habits and build better behaviors to hit your long-term savings goals. But what makes this month especially ideal is that it’s National Financial Literacy Month! 1 min read
Pencil laying on 1040 tax form Staying Safe from Tax Scams We received the following very handy and timely article from the Multi-State Information Sharing and Analysis Center (MS-ISAC) in regards to staying safe during this season of numbers crunching and record keeping for taxes. As always, if you have any specific tax questions, be sure to consult a tax prep professional. Watch out for these scams Unfortunately, much of your personal information can be gathered from multiple locations online with almost no verification that the right person is receiving the information. Criminals know this and use the information to file a fake tax refund request! If a criminal files a tax return in your name before you do, they will file it with false information to get a large refund, forcing you to go through the arduous process of proving that you did not file the return and subsequently correcting the return. Once they have your personal information, criminals can continue to commit identity theft well beyond the tax season. Another favorite technique used by criminals during the tax season is sending phishing messages indicating that a new copy of your tax form(s) is available. These emails often impersonate state, local, tribal, and territorial government comptroller or IT departments. If you fill out or attempt to login into the phishing website, the criminals will be able to see your login name and password, which they can then use to try and compromise your other accounts. The more information they gather from you, the easier it is for them to use the information to file a fake tax return in your name. Lastly, tax fraudsters also impersonate the IRS and other tax officials to threaten taxpayers with penalties if they do not make an immediate payment. It is important to remember: The IRS will not initiate contact about payment with taxpayers by phone, email, text messages, or social media without sending an official letter in the mail first. The IRS will not call to demand immediate payment over the phone using a specific payment method such as a debit/credit card, a prepaid card, a gift card, or a wire transfer. The IRS will not threaten to immediately notify local police or other law-enforcement agencies to have you arrested for not paying. 4 min read
lock and credit card Equifax Breach: FAQs and Resources A collection of helpful tips and FAQs in the wake of the Equifax breach. 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
Illustration of car and house. Major Life Events Big life events don’t have to mean big financial headaches. 13 Topics
Illustration of password field, lock, and fingerprint. Identity Protection Safeguard your identity and your financial future. 6 Topics
Illustration of a piggy bank and smart phone. Starting Out Take smarter first steps into personal banking. 5 Topics
Illustration of buildings and houses. Financial Caregiving Learn what you should know about handling another person’s finances. 6 Topics
Illustration of charts and account notes. Financial Basics Get off on the right foot with the right financial tools. 13 Topics
Illustration of books and money. Paying for College Study up on ways to pay for that diploma. 10 Topics
Illustration of clipboard with charts, a credit card, and a calculator. Family Financial Planning Bring the family together to talk about a financial plan. 7 Topics
First Bank personal credit card with rewards attached to a clipboard. Get rewarded for qualified everyday purchases View Credit Cards
Smartphones showing First Bank MyMoney financial charts. Discover the joy of financial clarity with MyMoney View Features
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