Consolidate Your Old 401K Plan Into An IRA

IRA 401K Roth and Tax-free

For many workers, a 401(k) plan provides the best opportunity for retirement savings but keeping track of those plans can be difficult. Changing jobs is a fact of modern life and switching employers can be a great way to keep your career moving forward. If you have changed jobs along the way, you may have …

9 Signs That You Are Financially Literate

Personal Finances

Financial literacy is the possession of skills that allows people to make smart decisions with their money. Part of being financially literate is not only understanding the facts about money but also taking the right steps that can lead to the right financial outcomes. If you haven’t achieved full financial literacy yet, don’t worry. Tackle …

Personal Finance Areas To Review Annually

2020 Review

When the new year arrives, many of us turn our thoughts to working out, losing weight and getting in shape. It is also common for Americans to start scheduling their yearly doctors’ appointments to review their health. Remember, getting your financial life in shape should be just as important and receive the same amount of …

How Banks Are Working With Their Lending Customers During Covid-19

relationship banking at its finest

Are there any steps that Spencer Savings Bank has taken to help its lending customers during this difficult time? When Covid-19 emerged and the New Jersey economy was principally shut down, Spencer Savings Bank remained open as an essential business for our customers and communities. Whether a consumer loan or commercial loan, we recognized that …

Enjoy The Holidays Without Debt

holiday shopping

When Maureen started her first job around 1950 or so, she didn’t have a 401(k), but she did have a Christmas club. Every paycheck showed a deduction for her Christmas club savings account, an account she emptied each December to buy gifts for her family and friends. She tells the story about her Christmas club …

5 Reasons to Shop Local & Eat Local This Holiday Season

Shop Small Businesses

The holiday season is here and there is no better year than this one to shop local and eat local. Whether you have a huge family to buy for or plan to purchase presents for just a few friends, the money you spend will make a real difference. Businesses in our local community have had …

8 Tips to Protect Your Identity

protect your identity photo

Identity theft continues to be one of the fastest growing crimes in the United States. In 2018, there were 14.4 million victims of identity fraud in the U.S., according to Javelin Strategy and Research. Follow these tips to keep your information – and your money – safe. 1. Don’t share your secrets. Don’t provide your …

12 Ways to Protect Your Mobile Device

Protect mobile phone photo

Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Follow these tips to keep your information – and your money – safe. 1. Use the passcode lock on your smartphone and other devices. This will make it more difficult …

8 Tips for Protecting Yourself Online

Protect yourself photo

Every year, millions of consumers fall victim to cybercrime. According to the 2018 Norton Cyber Security Insights Report, 152 million U.S. consumers were victims of cybercrime – more than half of the country’s adult online population – with losses totaling over $11.5 billion. Follow these tips to help keep your information safe online: 1. Keep …

How To Use A Home Equity Loan For Home Improvement

Home Equity Loan for Home Improvement

Outdated finishes, flooring or carpet that has seen better days, a bathroom and kitchen that are original to the home, built decades ago. Does this sound like your home? If you own your home and don’t have the cash to update it, a home equity loan for home improvement may be the solution for you. …