In many instances when a child turns 18 and leaves home to go to college they realize that they don’t know much about finances. They don’t learn about finances in school so it mostly falls to the parents to teach them the importance of managing their money. Luckily, parents can start early when the child is young. How early can you start teaching your child? There really is no specific age however, the opportunity to teach about money (more…)
State Bank is kicking off the 2012 holiday shopping season with tips to avoid a post-holiday credit hangover.
A National Retail Federation survey released earlier this month showed consumers will spend an average of $749.51 on gifts and holiday goodies. We spent $740.57 per person last year, the group said.
Here’s how that spending breaks down:
— $421.82 on children, parents and relatives
— $75.13 on friends
— $23.48 on co-workers
— $28.13 on others, including pets
— $100.76 on food and candy
— $28.66 greeting cards
— $19.55 on flowers
— $51.99 on decorations
All in all, the federation is predicting a $586.1 billion haul from the holidays.
Keep in mind that January bills are only a couple of months away. If you’re not budgeting for your holiday purchases, you’ll find yourself bringing in the New Year with last year’s debt.
What is an HSA?
A health savings account (HSA) is a tax-favored savings account created for the purpose of paying medical expenses.
How does an HSA Plan Work?
An HSA works in conjunction with high deductible health insurance.Your HSA dollars can be used to help pay the health insurance deductible and any qualified medical expenses, including those not covered by the health insurance, like dental and vision care.
Any funds you withdraw for non-qualified medical expenses will be taxed at your income tax rate, plus 10% tax penalty.
Once you meet your calendar-year deductible, the health insurance pays remaining covered expenses in accordance with the terms and conditions of your particular plan. Some plans pay 100% of covered expenses after the calendar-year deductible is met.
How do I get an HSA Debit Card?
An HSA Debit card allows you the convenience of spending money from your HSA account through the use of a card. An HSA debit card can only be used at a healthcare facility or merchant. Withdrawal restrictions are also waived on HSA debit cards.
Visit any State Bank branch to fill out an application for an HSA debit card. Please visit www.sbsu.com for more information regarding the State Bank HSA Account.
Hometown banking was established in southern Utah with the opening of State Bank of Southern Utah in 1957.
Hometown banking is important because people who live and work in southern Utah make the decisions. Bank employees and officers understand the banking needs of area residents because they are affected by the same economic climate. Find out what hundreds already know - hometown banking is better.
Courtesy of Mint.com
It used to be that spending money on status symbols for the sake of flaunting your wealth was an activity reserved for celebrities and millionaires.
That has all changed. Conspicuous consumption, what was once referred to as “keeping up with the Joneses”, has brought the lifestyles of the rich and famous to suburbia.
Just as most people consider themselves to be above-average drivers, most people assume (more…)