SSB Blog

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Renting vs. Buying

Posted on May 20th, 2015 in Low interest rates, Mortgages, Savings by SSBblogger |

House with twenty dollar bills background and calculator

Renting vs. buying; the ultimate question many people ask before they move to a new area or start a family. Which is better for your family? Well, the answer depends on where you are in your life and how long you plan to stay in a certain area. Security State Bank is bringing you a comparison of renting vs. buying so you can decide for yourself which will be best.

Pros of Renting:

  • You don’t have an obligation to stay in the neighborhood or the town you are currently renting in.
  • No maintenance is required if an appliance breaks of the furnace goes out. The landlord is obligated to fix the problem and finance the services required for repair.
  • Test the waters with different types of properties. Maybe for one year you can rent a ranch style home and when you move on, you can try a two story property. This will help you decide what type of property you would want to buy.

Cons of Renting:

  • Rent money is not building you equity. Although there are many benefits to renting, you are not building your money in any way.
  • Cannot make changes to the property. Most landlords are fairly strict about changing paint colors or updating older areas of the home.
  • If you want to get out of the rental agreement, there is typically a loss of deposit or penalty fee for breaking the lease.

Pros of Buying:

  • You will build equity in a home by buying. Instead of putting money into someone else’s pocket through renting, you are building your own money.
  • You can remodel, paint and change virtually any area of your own home. Buying brings the perks of creative freedom when it comes to designing the interior.
  • You can settle into a community. If you plan to stay awhile, you can build relationships with the neighbors and community without the possibility of a lease ending.

Cons of Buying:

  • You may be stuck for a while. When you buy a home, you make a commitment to stay in that house for at least a few years if you don’t want to lose money.
  • If an appliance breaks down or the AC unit goes out, you have to fork out the money to fix it. Before buying a house, see what condition the appliances are in so you can be prepared for the future.

Security State Bank hopes these pros and cons lists help you decide if buying or renting is better for you. If you plan to buy, talk to the mortgage experts at Security State Bank to get started with the process.

Debit Card Travel Safety

Posted on May 12th, 2015 in Cash, Community, Financial Management, General, Savings by SSBblogger |

Learn how to travel safely with your debit card.

Do you have plans to travel this summer? Family trips and relaxing getaways are always a good idea, but be sure to protect your debit card while you travel. Security State Bank is bringing you debit card travel safety tips in this month’s blog.

Debit card travel safety:

  1. Lighten up your wallet. When you plan to travel, withdrawing a lot of cash may seem like a good idea, but it is best to only bring the credit cards and debit card that is necessary for the trip. Even if you need to withdraw money from an ATM that has a fee, it is better than losing hundreds of dollars by theft.
  2. Let Security State Bank know about your travel plans. By letting us know where you are going, we can watch for suspicious spending from the area you are traveling to. If we don’t know where you are going or if you are going anywhere, we would likely assume your card was compromised and the charges are fraudulent. Save yourself the hassle and just let us know you will be traveling.
  3. Keep a close eye on your debit card. Because your debit card is directly linked to your bank account, it is important to track your purchases through our online banking option. While entering your pin at the store or handing it over at a restaurant, be aware of your surroundings so no one is trying to get your card number.
  4. Only make small purchases with a debit card while traveling. Small purchases are easier for you to track and the card is less likely to be compromised through small purchases. Credit cards are best for larger purchases because many credit card companies have a no liability policy to make the process easier for you.

Security State Bank is always looking out for your financial safety. Contact us today to learn about online banking if you do not have it set up yet.


Farming Quotes to Get You Ready for Planting Season

Posted on April 10th, 2015 in Agriculture by vgmforbin |
As you get ready to plan this year's crop, be inspired by these quotes about farming.

As you get ready to plan this year’s crop, be inspired by these quotes about farming.

Just in time for planting season, Security State Bank of Independence wants to bring you farming inspiration. Planting season brings the dawning of farming time and starts the process towards harvest. Planting season can mean long days and lack of sleep, so Security State Bank wants to bring you motivation to keep going.

Life is better on the farm. Why is life better? More like, where do we start? Life on the farm brings early morning and getting to see the sunrise over the hill. It means time well-spent with family. We get to teach the kids the way of many generations before them and watch them grow.

The most memorable days end with the dirtiest clothing. Growing up, you may remember helping in the fields during planting season because those were the days you got to spend the most time with family. Dirty clothing means another hard day’s work is in the books.

Hold the vision, trust the process. Farming is always a process that requires plenty of patience. When you are able to harvest in the fall, you will realize all the hard work and long days are well worth it. Envision the future to keep motivated for planting season.

Some of us grew up playing with tractors and trucks, the lucky ones still do. How great a gift to be able to be outside in the beautiful weather each and every day? Farming has a purpose in everyone’s lives across the country. Your work is needed and appreciated.

Now that you are ready and motivated for farming season, be sure to contact Security State Bank for all your agricultural banking needs. We specialize in ag loans to make your farming dreams come true. We offer many loan options for farmers. We are your hometown bank for all your agricultural banking needs.

Smart Ways to Use your Tax Return

Posted on March 9th, 2015 in Financial Management, General, Low interest rates, Mortgages, Savings by SSBblogger |

House with twenty dollar bills background and calculator

March means it is tax season again, and you may have a well-deserved tax return coming your way within a few short weeks. It’s always tempting to splurge on a new pair of shoes, new TV or a shopping trip when your tax return arrives.

Although these options seem exciting, Security State Bank has some realistic ways for you to spend your tax return money. Our tips may seem not seem as flashy or exciting, but they will put you in a better place for your financial future.

Smart ways to use your tax return:

  1. Lower your credit card debt- credit cards typically carry high interest rates, so it is best to make paying them off a priority. Carrying a balance from month to month causes interest to pile up, which could leave you paying hundreds each year in interest.
  2. Start an emergency fund- what would happen if you lost your job or couldn’t work because you became disabled? An emergency fund can help your family in any time of need. A money market account makes your money easily accessible while earning interest.
  3. Plan for a family vacation- a vacation is always well deserved, so why not start saving now? Whether you are heading to the beach, an amusement park or taking a long road trip, saving for your vacation now ensures you’ll have more than enough cash this summer.
  4. Pay your mortgage off early- your tax return can help pay off the mortgage a little sooner than expected. You can save thousands on interest payments by making a large extra payment.

Security State Bank encourages you to responsibly spend your tax return, but also have a little fun with it if you can. If you have questions about our investment services, savings accounts, or credit cards, contact us today.


How to Create your Own Luck of the Irish

Posted on March 4th, 2015 in Community, Compound Interest, Financial Management, General, Savings by SSBblogger |

Ask yourself this question: is the glass half full or half empty? You can create your own Luck of the Irish this St. Patrick’s Day depending on your outlook on life. St. Patrick’s Day is typically for celebrating the Irish heritage and wearing all sorts of green things.

Lush green four leaf clover on a white background

Security State Bank wants to put a twist on St. Patrick’s Day this year by bringing you tips on how to create your own luck of the Irish. When it comes to the topic of money and savings, it takes more than luck to have a successful financial future. You can make your own luck when it comes to finances and we will show you how.

How to create your own luck of the Irish:

  • Boost your retirement savings. The more money you add to a retirement account, the sooner you are able to retire. Now that is luck! Imagine if you are able to retire two years sooner by contributing a couple thousand dollars more each year. Not only is it smart to always build your retirement savings, there are tax advantages to doing so.
  • Stick to a budget. There are many benefits to a budget that can make you feel lucky. Set a goal and a reason why you are going to have a budget. At the end of a certain time period, you will have saved enough money to go do something you’ve always dreamed of. Take the family on vacation, make a down payment on a house, or upgrade your car.
  • Regularly contribute to a savings account. It’s hard to say when your family may need to fall back onto a savings account. Don’t get caught without a substantial savings account when an emergency comes around. When you regularly add to a savings account, you will feel lucky to have the money if you lose your job or need it in case of an emergency.

Security State Bank hopes the luck of the Irish is with you this St. Patrick’s Day and every day. Contact us today if you are ready to be smart with your money and build your savings or retirement fund.


EASIEST 3 Things to Stop Wasting your Money on Right Now

Posted on February 13th, 2015 in Cash, Financial Management, General, Savings by SSBblogger |

nickel cents coins over hundred usa dollar bills background

When you come home from a Saturday afternoon lunch at the local restaurant, you set your leftovers in the refrigerator. A few days go by and you haven’t eaten the leftovers, so you toss the rest. If you did that twice a month, you could be throwing away hundreds of dollars each year.

Security State Bank is always looking for ways for you to save money, so in today’s blog we are going to point out four things to stop wasting your money on right now. These are ways you can save more without earning more money.

  1. Carrying over credit card balances. It may not seem like a big deal to only pay the minimum on your credit card, but have you thought about what you’re paying in interest? Depending on how many credit cards you have, this could be adding up to hundreds or even thousands of dollars each year. Depending on your financial abilities, it is best to try and pay more than the minimum payment on your credit card each month.
  2. Throwing away leftovers and expired foods. You could be wasting hundreds of dollars each year by throwing away leftovers and expired foods. You can prevent this waste of money by ordering half portions at restaurants and keeping an eye on expiration dates so you are sure to use them before they go bad.
  3. Evaluate your utilities. You could be wasting money on your utilities without even knowing it. Wasting energy by leaving lights on and heating your home while you’re not there is eating up your money. Be conscious of lights and heating when you’re not using them or don’t need them on. You will eventually see a difference on your utilities.

Security State Bank hopes these tips will help you stop wasting money on everyday occurrences. Stop into a Security State Bank branche today to start a savings account.



Get Up Close and Personal with your Personal Finances

Posted on February 6th, 2015 in Financial Management, General, Savings by SSBblogger |

small red hearts with heart shaped gift box on white background

Get up close and personal with your personal finances? You may have thought Security State Bank has gone crazy, but really we want you to fall in love with your personal finances this February. How is this possible? February is the perfect time to get intimate with your finances by reevaluating your spending habits, savings account, and budget. We want you to love your personal finances so we are giving you ideas on examining your finances this month.

Shop smarter- From groceries to shopping at your favorite store, use everything you have until you go shopping for more food or household items. Pinterest and other websites are great for finding recipes to make with the food you already have. You will not only get to be creative, but you will also save money by not throwing away wasted food and ingredients.

Stick to a budget. You will thank yourself later for making a budget and sticking to it. A budget can help you reach financial goals you never thought were attainable. By saving more and more each month, you will finally be able to go on vacation or buy your dream house. A budget will keep you in control of your money and let you know where it is going.

Avoid going out to eat too often. It is always nice to get out of the house and not cook for a night, but don’t let it become a habit. Cooking at home will save you money every time.

Treat yourself- You can fall in love with your finances when you treat yourself too! You can indulge every so often on a good pedicure or a trip to the movies. When you spend money on yourself every once in a while, you will feel less stress and truly appreciate your money.

Security State Bank hopes these tips help you get up close and personal  with your finances, and save a bit more money each month. Contact Security State Bank today if you have questions about our savings plans.


Breathe Some Life into Your Financial Resolutions- how to stick to financial resolutions easier

Posted on January 20th, 2015 in Financial Management, General, Savings, Security by SSBblogger |

Businessman calculating expenses or checking financial figures on a calculator

At the beginning of each year, nearly half of Americans come up with a New Year’s resolution. Unfortunately, only a small percent of these people are able to stick with their goal past the first couple months. Security State Bank doesn’t want you to fall into these failing statistics, so we are giving you easy ways to stick to your financial resolutions this year.

How to stick to your financial resolution easier:

Start with smaller goals. When you start small, it is easier to reach the goals you were hoping to meet this year. If you are looking to save money for a family vacation, set a goal to save at least $150 towards the fund for the first month. After that, increase the amount you want to save depending on when you want to go on the trip.

Talk about your resolutions. You are more likely to reach your goals if other people know about them. Other people can keep you accountable, so don’t be afraid to share your financial resolutions with others in your family. If you have investment goals, share them with your financial advisor so they are in the loop with what you want to achieve this year.

Don’t beat yourself up. If you don’t attain your goal within the first few months, don’t feel bad. You still have the rest of the year to work towards your financial resolutions. This tip goes back to starting small with your goals. Don’t make goals that will be unattainable because they will only disappoint when you are unable to get to them. Instead of beating yourself up, come to terms with what went wrong, and fix the problem.

Security State Bank is here to support your through your financial resolutions this year. We want you to achieve your goals, so contact us today if you have any questions as to how we can help.

4 Habits of Financially Successful People

Posted on January 7th, 2015 in Financial Management, General, Savings, Security by SSBblogger |

Happy woman ready to take money out of an ATM

Have you ever dreamt of attaining financial wellness? Many people wish to attain financial wellness in their lifetime, so Security State Bank is bringing you four habits of financially successful people. To be financially successful, you must be ready to live frugally, take on a variety of opportunities, and have the drive to work towards your financial goals.

Habits of financially successful people include:

  1. They set goals. Setting attainable goals is the most important aspect of financially successful people. They know what they can achieve and they understand that it may take time to achieve financial goals. To be financially successful, you have to know where you are going and how to get there.
  2. They live frugally. Financial success doesn’t come from spending money carelessly. It takes determination to save money and make choices that will help your finances in the long run. Financially successful people spend money wisely and only when needed. They don’t care about impressing people with material things like nice cars and fancy clothes.
  3. They ask questions. Growing their knowledge through asking questions is the number one way the financially successful people get where they want to be. They ask many questions when meeting with financial advisors and ask plenty of questions before making investments. By asking questions, they can be sure they are making the right financial decisions. If they don’t know something, they are not afraid to ask.
  4. They have a good relationship with money. Financially successful people are frequently looking at their personal finances to be sure they are in good standing. They want to achieve even higher goals then they have already set for themselves financially to gain a better relationship with money.


Security State Bank wants you to become a financially successful person this year, so contact us today to get started.