MFS Connections - Summer 2019

4 The College Years Retirement Adulthood The Early Years • Young Savers Club Account • School Banking Days • Educational Material Let us help you educate your kids about the importance of managing their finances. • Checking, Savings & Retirement Accounts • Convenient Services • Digital Banking Tools • Credit Cards • Educational Workshops • Internship Programs & Careers Managing your finances and building credit at this stage is important. • Checking & Savings Accounts • Retirement Accounts & CDs • Credit Cards & Mortgages • Safe Deposit Boxes • Convenient Services and Digital Banking Tools • Educational Workshops • Careers Building and maintaining your nest-egg, marriage, children, homeownership and more could be expected. Maybe you're also a small business owner. • Checking, Savings, CDs & IRA Accounts • Mortgages • Safe Deposit Boxes • Convenient Services and Digital Banking Tools • Educational Workshops Now is the time to enjoy your hard work, grandkids, traveling and more. No matter what your goals or destination, we have solutions to help you and your families reach all of life's milestones. SOLUTIONS FOR EVERY STAGE OF LIFE SAVINGS TIPS Set a budget and stick to it. Allocate 50% of your paycheck to things you NEED (Rent, Food, Utilities etc.), 30% to things you want (Shopping, Travel, etc.) and 20% to savings (Savings or Retirement accounts). Pay bills on time. Missed payments can hurt your credit history for up to seven years. Consider setting up automatic payments for regular expenses. Avoid racking up too much debt. Understand the responsibilities and benefits of credit. Shop around for a card that best suits your needs and spend only what you can afford to pay back. Credit is a great tool, but only if you use it responsibly. Plan for retirement. It is never too early to start saving for retirement. Contribute to retirement accounts like a Roth IRA or your employer’s 401(k), especially if there is a company match. Visit maspethfederal.com for budget management resources, calculators and tools to get you started!