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Peoples State Bank
Personal Finance
Money 101 - Top Tips for Serious Saving

Some of us were never taught how to save when it comes to money, but all of us were taught how to spend. So, why does it seem like such a challenge to save money? Simply put, it’s easy to spend money, but saving it is much more difficult. Here are a few tips to help you put your hard-earned cash in a safe place for the future.

Winter Home Buying

It’s a common misconception that you’ll have a far better home-buying experience in the summer months. While travel might be a bit easier in the summer, there are plenty of reasons to look for a new home in the winter months.

Smarter in 60 - Down Payment

One of the most significant expenses to purchase the home you’re interested in is the down payment needed. This month’s Smarter in 60 topic will help answer your mortgage down payment questions.

Using Your Home’s Equity

A common situation many homeowners face is needing to make repairs or changes to their home, especially after having lived in the house for ten or more years. If you’re facing a significant remodeling or repair bill, but don’t have the funds available, perhaps using your home’s equity is the answer.

Interest Rates Make Refinancing Affordable

Mortgage interest rates set a new record low four times this year. Mortgage lenders have been very busy throughout the first nine months of the year. The rate drops throughout the year have spurred many people to action, taking advantage of the lower interest to either cut down their monthly payment or cut down the length of their mortgage.

Breaking the 20% Down Payment Myth

There’s a long-standing myth that you need to pay a 20% down payment when purchasing a home. Yes, a 20% down payment is a benchmark that mortgage lenders use, but a third of Americans put 5% or less down when purchasing a home.