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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
Mature woman at home looking at the bills and taxes and trying to calculate and pay them. Ways to protect yourself against check fraud Check fraud is on the rise. Here’s what you can do. These days fraud is everywhere, and fraudster methods are always evolving. A growing number of methods are targeting your checkbook. Did you know that checks are now one of the least secure forms of payment? Criminals are combining old-school methods of theft with readily available technology to steal checks, impersonate account holders, and sell to the black market. Arm yourself with the knowledge to protect your identity and checking account. How is check fraud committed? Lifting ink: Lifting ink from a check, or “check washing”, can be done using chemicals as readily available as nail polish remover. Criminals can remove your intended payee’s information and replace it with theirs while also increasing the dollar amount. They then deposit the fraudulent check into their account. Targeting mailboxes: Once mail is stolen from a residential mailbox or a USPS blue box, criminals sift in search of checks that can be washed and forged. The frequency of mail theft is directly correlated to the spike in check fraud. Selling check images on the dark web: There is a growing network of darknets and encrypted communication platforms that criminals use to sell check images. Criminals can use the personal information from your check and your banking information to commit identity theft scams.   Consider these check-writing alternatives and services. If you can, try to avoid placing checks in the mail. First Bank offers a number of alternative options for mailing checks like BillPay, Zelle, External Transfer services, and more. Bill Pay: This free service lets you avoid the hassle of writing checks or visiting multiple websites to stay on top of your payments. See how convenient it is to manage your payments from one place. External Transfers: For those who support their kids in college or if you’re constantly writing checks between your First Bank account and one at another bank, First Bank’s External Transfer option makes it quick and easy to securely transfer funds. If you own both accounts, learn how to set up a transfer here. Zelle®1 : In your First Bank mobile app, you have access to Zelle®, a fast, safe, and easy method to send money directly from your bank 4 min read
Habitat Group Photo Q&A: What Should I Consider When Selecting a Bank? When looking for the perfect bank, ask yourself, “Does this bank complement my lifestyle and financial goals?” At First Bank, we believe it should. You may also want to consider the following 4 criteria: Community Involvement Longevity & Stability Personalized Customer Service Breadth of Financial Service   1. Community Involvement When comparing your banking options, consider how your prospective bank is involved in your community. If local economic growth is important to you, prioritize a community-focused bank that is committed to reinvesting in local economic development. An actively involved bank can provide your neighbors with increased access to small business loans, mortgages, charitable donations, and overall financial wellness. For example, First Bank has invested over $1.2 billion in community development loans to revitalize low- and moderate-income areas. Additionally, in 2022, we donated $500,000 to support education-focused initiatives across the Carolinas. As First Bank grows, so do the communities we serve. 2. Longevity & Stability Do your research – find a bank with a track record of success and the ability to remain steadfast during uncertain economic times. Consider how long the bank has been established and how they plan for growth into the future. First Bank began in 1935 during the height of the Great Depression in order to safeguard the hard-earned funds of local farmers, community members, and business people. Throughout our organization’s 87-year history, we have seen recessions, depressions, and many banks come and go. While we stay current with modern banking trends, we will continue to operate our company with an intense focus on safety and soundness, so our customers, clients, partners, investors, and associates know that we will provide safe and stable long-term success. 3. Personalized Customer Service It’s important to think about what your perfect banking relationship would look like. Do you value a tailored in-person experience or do you prefer online banking services with less one-on-one interaction? Regional banks, like First Bank, have the ability to offer the best of both worlds. The personal relationships that we develop within our communities help us advocate for our customers’ best interests. We can offer competitive rates and recommend the best financial tools to the right businesses, municipalities, and families at the right time. When you’re traveling 3 min read
Image for tile. 3 Steps to Creating a Strong and Unique Password In today’s world, passwords have become an important part of our daily lives. We use them for everything from social media accounts to digital banking, and endless apps in between. Although it is easy to choose the same short and memorable passphrase for everything, it can leave you wide open for risk if one of those platforms is compromised. Step One: Change It Up The first step to protecting yourself from data breaches is defining secure phrases for your different accounts in order to alleviate risk. The consider the following tips to remember when selecting a password: Make sure your password is at least 12 characters Include upper-case and lower-case letters throughout Avoid keyboard paths like 45678 or asdfg Add punctuation marks within the password not just at the end Step Two: Make it Meaningful While there is strength in a lengthy password, trying to remember an array of random letters, symbols, and numbers such as YP&3U6?@DM2$ may be difficult; therefore, it is beneficial to use phrases meaningful to you, but ambiguous to others. Instead of using easily predictable passwords containing information shared online such as birthdays, anniversaries, or family names, try relating it to your favorite hobby, food, or movie in order to better protect yourself. For example, creating a password that combines your favorite movie and the last 4 digits of your best friend’s phone number like PreTTyWoM@N2849! ensures that cybercriminals cannot effortlessly hack your account. Here is a chart designed to help you better understand how easily a cybercriminal can guess your password and the time it would take for you to be hacked. Step Three: Keep It Secret, Keep It Safe The more complex your passwords, the easier it is to forget a character and get locked out. So, what’s the best solution to keep everything straight and safe? Online: Storing passphrases on your phone or computer or sending them through email or text often seems like a convenient hassle-free solution, but it creates the opportunity for hackers to obtain private information. Offline: Writing down your passwords can be the safest way to store your information, but it is still crucial to not record them word for word. Sadly, fraud often times comes from internal sources 4 min read
Image for tile. Fraud Protection: 5 Reminders to Avoid Smishing and Vishing Scams Use these five helpful reminders to stay safe: Stay on alert for suspicious SMS text messages stating payments have been made using your account or Zelle information. These types of messages are called smishing. Phishers send a text, supposedly from your financial institution, asking you to confirm transactions made from your account by responding with a simple “Yes” or “No”, prompting a possible phone call from them immediately after. Do not respond to these types of messages. Instead, call your financial institution directly to confirm they have sent you a message about your account or to make sure there are no actual unknown transactions. When calling your financial institution, always call the number from the institution’s website or the number found on the back of your debit/credit card. If you feel you have been a victim of an SMS text messaging scam, call your financial institution for immediate assistance. Find more on smishing, voice phishing, and Zelle fraud explained by Brian Krebs, author of Krebs on Security, using the links below: SMS About Bank Fraud as a Pretext for Voice Phishing – Krebs on Security The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back – Krebs on Security Need extra information on how to protect yourself and your information? Check out our free online course on Identity Protection. Identity Protection – First Bank 2 min read
Image for tile. How to Save for Periods Without a Paycheck Did you know that two out of five wage and salary earners over the age of 15 know their schedule less than one month in advance? If that sounds like you, or if you’re a teacher on a 10-month pay cycle, try this calculator to help you figure out the best approach to savings during those periods without pay. 1 min read
Cropped shot of a businesswoman sitting alone and typing on her laptop during the day at home Learn the Cybercrime Warning Signs The number of cybercrimes continues to increase day by day. This can sometimes make it hard for you to completely protect yourself from these threats. But the more you know about these scams, the better chance you’ll have at identifying and avoiding them. What is a cybercrime? Cybercriminals aim to exploit your information for their own personal gain, causing harm to financial stability and exposing secure information. Cybercrimes are those criminal activities where a computer or the internet is used as a tool for fraudulent claims, to gain personal or business information, or to infect networks and devices. *First Bank will always take the appropriate measures to keep your personal information safe. In this article, we have outlined some common cyber scams, so that you can understand what to look out for. Some common scams/fraud includes: Phishing Email Scams Perhaps the most common type of scam is phishing, usually done via email and designed to look like they are coming from someone at your company, someone you know, or a notable figure. Because these emails look like they can come from anyone, it is easy to be caught in this form of scam. It may be hard to fully protect yourself from them, but it is always best to double check who is requesting your information. Payroll Scams In Protecting Against Fraud from Nacha, a payroll scam is when, “fraudsters target individual employees by directing the employees to update or confirm their payroll information via a fake payroll platform that spoofs their employer’s actual payroll platform. In some cases, the fraudster may claim the employee must do one of these: view a confidential email from human resources or the payroll department, view changes to the employee’s account, or confirm that the account should not be deleted.” Cybercriminals will use the stolen credentials to change payment information within the business’s payment platform. This type of scam can be extremely dangerous to an individual and a company because it exposes both user and business information. Romance Scams According to fbi.gov, romance scams, or online dating scams, “occur when a criminal adopts a fake online identity to gain a victim’s affection and trust. The scammer then uses the illusion of a romantic or 7 min read
Image for tile. Learn How to Be A Phishing Attack Detective With a number of people relying heavily on online services and communication for work and personal life, cybercriminals have increased their volume of attempts to acquire personal information. One of the most common ways they may try to gain access to this secure information is through phishing attacks. This causes problems for both individuals and companies when they are trying to keep information safe. What is phishing? As described by phishing.org, “Phishing is a cybercrime in which a target or targets are contacted by email, telephone or text message by someone posing as a legitimate institution to lure individuals into providing sensitive data such as personally identifiable information, banking and credit card details, and passwords. The information is then used to access important accounts and can result in identity theft and financial loss.” These attempts may look like someone posing as a coworker, asking for input, including links or attachments, among other things. Scammers attempt to gain access to user information every day, but when you know what to look for you don’t have to become a victim. Take a look at our playlist for a few tips to help you become a phishing email detective and use them in your everyday life. It is always a good idea to double check information before opening anything from unknown senders. In episode 1, you see Gil Ubble attempting to open an email from an external source. Upon further investigation, the domain name does not match and the email is not from someone at the company. Often times people are caught in these attacks because they aren’t paying close enough attention to who the email came from. If the email in question looks similar to something that provider would send, do not click on links or attachments. Instead, go directly to that company site or give them a call to make sure the information is accurate. If the email comes from someone who seems to work at your company, but you do not know the person, check to see if they actually work there. Even if the person’s email shows that they work at your company, check the email for other signs of false information. Scammers may go to extra lengths to spoof email addresses 4 min read
Image for tile. Three Tips to Building Your Emergency Savings Trying to stay on top of your finances and budgeting for monthly expenses can be stressful, especially when unexpected car repairs, job related issues, or natural disasters occur. We want to make sure that you are fully prepared in case any unexpected life altering events happen and fortunately there’s a way you can do so. Starting to build your emergency savings can help you when you find yourself in a bind. Emergency savings, or an emergency fund, allows you to build a savings buffer, so that you do not have to worry about how to pay for unforeseen financial emergencies. If you don’t know where to start with saving for emergencies, here are a few tips to help get you started. Create a budget. Creating a budget helps you estimate how much you are spending. You can adjust a budget to show how much you are spending on a monthly or weekly basis. This helps you visualize where your money is going and how much of your income you have left over after paying bills. Having a budget can also help you determine wants vs. needs. Determining needs over wants can free up more money from things that aren’t necessities. Determine how much to put into your emergency savings. Money experts recommend having three to six months’ worth of expenses saved in your emergency savings. However, once a budget has been created and you see how much extra income you have, you can decide how much is reasonable to put into an emergency fund. Don’t be discouraged if it seems like you aren’t saving enough initially. Everyone’s situation may vary and as you become more comfortable saving, adjustments can be made. Determine where to keep your emergency fund. Figuring out where to keep your emergency savings is completely up to you, but make sure to keep it in a place that is easily accessible. A few options for savings are a savings account, checking account, or certificate of deposit. No matter which option you choose, we have associates ready and available to help get you started. Find your local branch today and start getting your savings in order. Want to continue learning how to make your money go further? Take 3 min read
Financial tips for teens Teach Teens to Save: Banking Tips For A Financial Future We know learning may look a little different these days, so we’ve put together a guide to help boost your teen’s knowledge of banking. In this guide, you and your teen will find information on: Working their way around a check – Yes, they still exist! Setting up a financial future – Start sooner than later. Life hacks on saving time and money – Who wouldn’t want that?   Get your teen thinking about their financial future, and download this free guide today! For additional resources, check out these interactive courses on Starting Out, Financial Basics, and Paying for College. 1 min read
Image for tile. Lock It Up: Protect Your Login Info These days an increasing number of people are online creating accounts for shopping, streaming services, or to stay connected with other people. Of course, with all those accounts on various websites, who wants to create a different username and password every time? Well, it turns out the extra effort is worth it. Having different logins for your online shopping or subscription accounts can reduce your risk of fraud. Here’s why: if you use the same username and password across multiple sites and one of them is compromised, access to the other sites is automatically at risk. Fraudsters will then use the stolen credentials on those other sites to see if they can gain access and attempt various forms of fraud or other data mining activity. Please note: First Bank has several protective measures in place to ensure that your information is secure and that your account is safe from this type of fraud. But your other online accounts may not be so well guarded. Here are some tips to help you make each of your log-ins stronger and more secure: Use different login information. Not surprisingly, this is the best thing you can do to keep fraudsters out of your retail or subscription accounts. This means you will need to resist using your favorite username or password over and over again because it is the easiest to remember. Create strong/unique usernames and passwords. When using different usernames and passwords, use information that is not easily identifiable, but something you can remember. The more complex, the less likely it is to be guessed. One more tip: use numbers, capital letters, and special characters throughout your username or password, not just at the beginning or end. Enable two-factor/multi-factor authentication where available. By enabling this feature, a user is provided a second form of identification to verify a log in attempt. Think of it as a second layer of protection against potential attackers. This can be as simple as receiving a code via text or email, or clicking a link to confirm a log in from an unfamiliar device. Keep second factor information confidential. Never give out your second factor code to anyone – even if they say they are from a favorite 3 min read
Image for tile. The Taxman Cometh Do you have a stack of forms sitting on your counter that you’re dreading sorting through? If so, you might have FOTM, or Fear of the Tax Man. It can often hit around February or March, and is incredibly common. One way of dealing with FOTM is by getting your finances ready so that when it comes time to file, you feel a little better. Here are our tips and to-dos to help you prepare. Start Early (If You Can) Ideally, you’ve already started this process, but if you’re reading this and haven’t started pulling your tax information together, don’t panic. Keep it together: Make sure you keep all the tax documents you receive together so they’re easy to find and reference when it’s time to file. If you are getting help preparing your taxes, this will also make the process much smoother. If you have a business, make sure you keep those expenses separate. Review your filing status: Your filing status can affect how much you owe in taxes each year, and whether or not you have to file at all. If you’re unsure about your filing status, the IRS has a tool for helping you figure it out. Look back at last year’s return: Think about what areas (if any) were frustrating or caused you trouble. Prepare ahead of time this year for how you might make it easier for yourself. Deduce your deductibles: Track your charitable donations, childcare expenses, any home improvements you made, and any other deductibles you may have. You can use our mobile or online banking to help track these. Get it done. Whether you file on your own or use a tax preparer, make sure you get everything in by July 15 or file an extension! Check out the IRS tips page for links and articles that may further help and guide you. Remember, FOTM is real, but if you’re prepared, you can alleviate the fear. Please note, First Bank does not offer direct tax advice. We recommend you speak to a professional if you have any questions about preparing your personal or business tax forms. 2 min read
Father kiddo due work from home. New to Working From Home? Here’s How to Do It Safely To help mitigate the threat of COVID-19, businesses and employees are finding themselves taking part in the biggest “work from home” experiment ever tried. If you are one of those business owners or employees, here are some security tips to help protect you and your data while you work in your home office. 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 books and money. Paying for College Study up on ways to pay for that diploma. 10 Topics
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Illustration of a piggy bank and smart phone. Starting Out Take smarter first steps into personal banking. 5 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
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
Illustration of password field, lock, and fingerprint. Identity Protection Safeguard your identity and your financial future. 6 Topics
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