Do You Need a Mortgage Check-Up?

Just like you get your physical health checked on regular basis, it’s a great idea to get a regular Mortgage Check-Up.

How long has it been since you’ve reviewed your Mortgage Health? Here’s some questions that can help.

  • Is your current rate higher than 5.00%?
  • Do you have an adjustable rate mortgage?
  • Has your credit score improved since you got your mortgage?
  • Are you moving soon?
  • Do you have additional debt you would like to consolidate?
  • Are you planning on starting your own business soon?

If you can answer yes to any of these questions, NOW might be the time for an appointment. For additional information on Mortgage Loans or to contact a Mortgage specialist, visit us at: https://myliberty.bank/loansrealestate.php.

We Love our Customers!

There is nothing better than getting a survey back that says “Everything about the loan process was easy and comfortable…like talking to a friend. Thank you for taking the time to answer our questions. We are very happy with our LNB experience!”

With Valentine’s Day quickly approaching, take time to share what you love. We LOVE our customers! And we LOVE being able to help and make great experiences! Thank you for choosing Liberty National Bank to help with your financial journey. Please contact us if you ever have questions or need financial guidance. Our Vision is: A Customer For Life! And we take that to heart!

What’s it mean to be Financial Healthy?

What’s it mean to be financial healthy?  It means a lot of things, but one thing it definitely means is having a plan for saving.  Step One in that process is deciding how much to save.  There are lots of suggestions out there…3-6 months of living expenses is what we hear most.  That’s a fine suggestion, but it doesn’t mean anything.  How is someone supposed to know whether it’s 3 or 6 or somewhere in between?  Or maybe an altogether different number?

The truth is, the number you need in savings is the number that makes the knot in your stomach go away.  If you’re married, it’s spouse-#1’s number plus spouse-#2’s number divided by two.  Anything over that number is something you should have working for you in some other, more beneficial way.  Some people keep hundreds of thousands of dollars in savings, “just in case.”  There is no eventuality that will cost that much; fear or “I don’t care” are the only two reasons for that.  If it’s fear, seek to understand what you’re money is doing by finding a trusted financial advocate.  But don’t waste the opportunity your money has to benefit you and your family.

For more information, please visit https://www.myliberty.bank/financialplanning.php.

What are Your Financial Goals for the New Year?

New Year’s resolutions come and go, but we want your financial success to remain! Losing weight and creating a budget are two of the most common New Year’s goals. While we can’t drive you to the gym, we hope some financial tips can help make your budget the fittest it’s ever been in 2017.

January is the perfect time to sit down and revisit your financial goals.  Let’s take a quick look back at 2016 and ask yourself some questions:

  • Do you have less debt and/or more savings than 12 months ago?
  • Did you meet any financial milestones during the year?
  • Did you spend less than you earned?
  • What could you have done better?

The answers to these questions will give you a jumping off point for your 2017 goals. Here are some tips on budgeting and planning for the new year:

Have a plan for any unexpected income.

When you have a windfall — a bonus, gift, or extra cash for extra work — use the rule of thirds to determine how to use it: • One third for the past. Use one third to pay down debt you owe. • One third for the future. Put a second third immediately into some sort of savings or investment. • One third for the present. Use the final third to make a home or personal improvement or purchase you want. If you follow this rule, you’ll see your debt shrink and your savings grow, and you won’t feel deprived.

Keep a slush fund handy.

Something — be it a car repair, an emergency root canal, or a job layoff — always comes up to throw you off your monthly budget. To keep these incidents from running you into debt, you need to have an emergency stash in an easily accessible account, preferably a money market account (they earn a little more interest than regular savings accounts).

How much is enough?

Easy. Track all of your spending for a month (including everything from your mortgage payment to lunch at the deli), and multiply that monthly total by three. That three-month operating budget is a scary number, eh? Well, this is the minimum you should have on hand in case the roof caves in (literally or figuratively) and you need some dough to get you through the rough spots. Don’t worry if this money isn’t accruing the big interest; it’s there for emergencies.

Concerned about how much you’re spending, how much you should be saving, and how much house you can afford? Use these equations to determine how financially healthy you are:

  • The price of your home should not be more than 2.5 times your annual gross household income.
  • Your total monthly debt payments (including mortgage, student loans, car, and credit card payments) should not be more than 35 percent of your monthly gross income.
  • To retire comfortably, your nest egg should be about 20 times what you want your annual income to be. If you anticipate needing about $75,000 a year to live on when you retire, you’ll need to save a nest egg of about $1.5 million. Of course, this will vary if you retire early or continue to work longer than usual.

Stay Flexible!

Since budgeting can require some guesswork, you’ll need to remain flexible in planning it. Your budget will guide you through spending decisions through the year but be ready to veer off the path a bit at any given time due to unexpected expenses. Take it easy on yourself if you get off track.  Use this time to regroup, revisit your goals, and devise a new plan if needed.  Lastly, don’t forget to take some time to appreciate the progress you have made.

Christmas Blessing

Did you see the beautiful sunrise this morning? With the hustle and bustle of Christmas just a few days away, remember what the true meaning of Christmas is and the beauty that God provides to us each day.

Christmas is a time of renewed beginnings, a time to reflect on that past year and also at what is in store for the year ahead.

Christmas is also a time to connect with what is inside us, to count our blessings, and to learn and grow from each experience.

We at Liberty National Bank want to wish everyone a Blessed and Merry Christmas!

sunrise

Benefits of Shopping Local this Holiday Season

Go local and shop for that unique present from one of the many local shops and open houses this holiday season. From handmade jewelry to handcrafted honey, you’ll find just what you need to please everyone in your life right in our local communities!

Below are some benefits for shopping local this Holiday Season.

  1. More of your money will be kept in your local economy

For every $100 you spend at locally owned businesses, $68 will stay in the community. What happens when you spend that same $100 at a national chain? Only $43 stays in the community.*

  1. You create local jobs

When you shop locally, you help create jobs for teachers, firemen, police officers, and many other essential professions.

  1. You help the environment

Buying from a locally owned business conserves energy and resources in the form of less fuel for transportation and less packaging.

  1. You nurture community

Local business owners know you, and you know them. Studies have shown that local businesses donate to community causes at more than twice the rate of chains.

  1. You conserve your tax dollars

Shopping in a local business district means less infrastructure, less maintenance, and more money available to beautify your community. Also, spending locally instead of online ensures that your sales taxes are reinvested where they belong— in your community!

  1. You took advantage of their expertise

You are their friends and neighbors, and locally owned businesses have a vested interest in knowing how to serve you. They’re passionate about what they do. Why not take advantage of it?

  1. You made your community a destination

The more interesting and unique you community, the more we will attract new neighbors, visitors and guests. This benefits everyone!

*Source: Civic Economics – Andersonville Study of Retail Economics.

Thanksgiving – What Does it Mean to You?

Turkey dinners, cranberries, candied yams, stuffing, mashed potatoes, pumpkin pie and family gatherings, are all commonly associated with the yearly celebration of giving thanks on Thanksgiving Day!

During Thanksgiving a meal is prepared with all the trimmings; families gather and talk, while others watch a game or a parade filled with pilgrims, Indians and other colonial figures. Some families may even have their own yearly Thanksgiving traditions.

What comes to mind when you think of Thanksgiving? Do you picture a time of thankfulness toward God or is it merely one of eating, partying or watching football?

Whatever comes to mind for you, don’t forgot why the day was established. Its meaning is slowly deteriorating and is getting lost under a cloud of media hype, sales pitches, marketing tactics and blitz commercialism.

As Thanksgiving Day approaches, ponder and consider the many wonderful blessings you enjoy. Be grateful for these wonderful benefits.

Before you and your family enjoy Thanksgiving dinner, or begin watching a parade or football game, be sure to take time to truly thank God in prayer and thought for the national wealth, power and prestige He has given this nation. Be sure to give thanks to God in the same heartfelt, sincere manner that the pilgrims did on the first Thanksgiving in North America!