Is Your Child Money Savvy?

It's a known fact: kids learn from parents behavior. Ask yourself, are you a saver or a spender? This article offers easy ways to help your child (and maybe even yourself) be more money savvy!  

1. Teach your child to make a pros/cons list before spending money on an expensive item. 
2. Ask your kid to think about something he recently bought that he really wanted. What were his feelings about the item before he bought it, and what his your feelings two weeks later? Was it worth the money? 
3. Ask your kids what interests them about money? What bores them about handling, saving, or spending money? 
4. Discuss an emergency fund of money and the reasons it's important. How could kids benefit from starting an emergency fund of money ?   
5. Have regular conversations about money skills and financial literacy – what is it, why do we need it, how do we get it, where do we keep it, how does it relate to the things that are important to us?  
6. Ask your kids...does a free kitten come with hidden expenses? If so, what are they?  
7. Make financial literacy fun by teaching money trivia along with money skills! For instance, the dollar bill lasts 21 months before it wears out. The five dollar bill has the shortest life, at 16 months.  
8. As an incentive to save money, match your child's savings dollar for dollar...or fifty cents for each dollar saved.  
9. What is your best money habit? Share it with your kids.  
10. Discuss with your kids some things money can't buy.  
11. Discuss with your kids which is more important...buying a video game or paying back lunch money borrowed from a friend.  
12. Discuss with your kids the advantages and disadvantages of saving money.  

Kids LOVE to have their own savings account; it makes them feel "grown-up." If you child doesn't have one yet, take time to open one...and consider funding it with a few dollars. This is a great way to get them in the healthy habit of saving and thinking about achieving financial goals. Our Super Eagles Kids Club account teaches children 12 and under good money management and they receive cool stuff for saving their money!

Teach your tween/teen how to fill out a check by having them write the next one.

Give your 6-8 yr old $2 and your 9-13 yr old $5. If your 6-8 yr old still has it after a week and your 9-13 has it after two weeks, double their money. Great delayed gratification practice!

Discuss needs versus wants with your kids.

We recommend bringing your child to the bank with you, teach them how to fill out their own deposit slip and make the transaction themselves. Your child will take great pride in his/her ability to do things on his/her own.  Help you child sets goals of dollar amounts ie: how long till I have a $100.? He is now at almost $300 Get them excited about SAVING!

Money Saving Tips

Now days everyone is looking to save money - whether it be by not eating out as often, walking instead of driving, or staying home more - all of these can add up to some big savings in a year.

Here are a few money saving tips we have gathered from friends and family:

The average person spends $6.60 on lunch away from home. Bring your midday meal just twice this week and save $13. Do it eight times this month and save $52.

Rather than buy individual hand soaps just buy a large, inexpensive bottle of shampoo. Fill a pump container with half water and half shampoo and use as hand soap.

Extend the life of your kitchen sponge by tossing it in with a load of dishes in the dishwasher every couple of days or so. This will sanitize it and give you several additional weeks' use.

Repurposing old T-shirts and cloth diapers as dishrags and cleaning cloths cuts down on waste, so it's better for the environment. (just like our PAPERLESS Ultimate checking account that pays you top interest!) The average American family uses 1 1/2 rolls of paper towels per week, so cutting down to just one a month could save you roughly $45 a year.

After your dishwasher's final rinse, open the door and pull out the racks. Let the dishes air-dry to save electricity.

Did you know coffee grounds can keep your refrigerator smelling nice and fresh? Rather than wasting a whole box of baking soda, place the grounds, new or used, in a bowl and remember to replace them every month or two.

Spend less by avoiding the dollar bins. How many of those items do you actually need? Probably none. Steer clear of this impulse zone, which is often placed near the front of the store to catch your eye as you walk in.


Keeping your fridge and freezer colder than necessary can boost your energy consumption--and your bills. Your fridge should be set between 37°F and 40°F, the freezer between 0° and 5°F.

Trees and shrubs are great for beautifying your yard. But did you know they also shield your home from sun and wind? You could save up to 30 percent in home heating and air conditioning costs by planting some natural protection. (Open any new checking account or loan at Reliabank during our summer promo and we'll give you a nice little potted spruce tree to add to your landscaping!)

Make your own cleaners - mix 1 cup each of white vinegar and water in a spray bottle. Use it to clean counters, soap scum in the shower and toilets. Try baking soda to clean bathroom surfaces, stainless steel appliances, sinks and stove tops. Lightly wet the surface, sprinkle baking soda on top, scrub with a sponge and rinse.
 
With the $$ you save you can add to your Reliabank savings account or your Ultimate Checking account! Earn money by saving money!

June is National Homeownership Month

ICBA Offers Tips for Homebuyers


Washington, D.C. (June 7, 2010)— June is National Homeownership Month, and the Independent Community Bankers of America (ICBA) and the nation’s nearly 8,000 community banks continue to help Americans in communities throughout the country become, and remain, homeowners each year through the personal attention that only a local community bank can provide.

“Community banks take the extra steps necessary to give potential homebuyers the service and attention they need,” said Jim MacPhee, ICBA chairman and CEO of Kalamazoo County State Bank in Schoolcraft, Mich. “They can help their customers evaluate whether the time is right for them to purchase a home, determine the most affordable mortgage options for their situation and provide them with information to help the process go more smoothly.”

We offer the following suggestions for homebuyers:

1. Know all the sources and amounts of your monthly income and know your budget, including how much you spend on rent, utilities, entertainment, clothing, food and transportation.
2. Gather and organize paperwork, such as pay stubs, W-2 forms, tax returns and bank and investment statements.
3. Check your credit report and bring it to your bank. Credit reporting agencies must give you one free report annually. Access your credit at www.ftc.gov/freereports.
4. Work with one of our mortgage lenders to figure out how much you can borrow and which mortgage product is right for you. They will carefully explain the mortgage options of each mortgage product available, including rate adjustments, fees and other loan features, so you aren’t surprised by payment increases down the road.
5. Talk to us before you begin looking for a home. We can tell you what current mortgage rates are and help you understand how that translates into monthly mortgage payments. This will help you shop for a home that fits your budget and shows sellers you are an educated homebuyer.
6. Learn as much as you can about the home-buying process.
7. Check with your local state, city and county government agencies for special first-time-homebuyer loan or grant programs available to assist with down payment and closing costs.
8. Once you have spoken to a Reliabank mortgage lender, and know what you can afford, stop by real estate open houses to see what’s available in your price range.

We encourage you to visit a Reliabank location to learn what your mortgage options are. Not only are community banks, such as Reliabank, interested in helping homebuyers purchase a home, we also want to help borrowers find a mortgage they can afford and afford to keep.

Contact on of our mortgage experts:
Michelle O'Farrell - Watertown
886-6000
Jeremy Kaiser, Hartford
528-4000
Pat Biederstedt, Hayti
783-2616

We Could Make You a Winner!

We have partnered with KXLG 99.1fm radio in Watertown as the major cash sponsor in the 99 days of summer promotion! Pick up your window clings at any Reliabank location, put it in the back window of your vehicle and HOPE to get ticketed by KXLG! If you receive a large red ticket on your window, simply fill in the bottom, and drop off at various businesses in Watertown. When you hear your name on KXLG you'll have 99.1 seconds to call in and get your name entered in the big $5,000 drawing to be held downtown Watertown on September 13.

Visit http://www.mykxlg.com/index.php?option=com_content&view=article&id=182&Itemid=69
for more information!

Drop Off Points:

Watertown:Cowboy Country Stores (1,2,3), Cowboy Liquor Stores, Cowboy Bait and Ammo, Sheehan Cycle, Watertown Ford Chrysler and County Fair Foods


Clear Lake: Cowboy Country Store

Milbank: Food-N-Fuel
Ortonville:Cenex Convenience Store

Webster: A&W Restaurant

90 days of SUMMER 90 years of GROWTH

Today officially kicks off our summertime promotion. Celebrating 90 years as YOUR community bank!

CD Special 990 Days of sweet savings 2.45%apy*

Summer Toy Loan Special
4 years $20,000 @ 5.95%apr**

4.07% apy Ultimate Checking Account now with ID Theft Protection!***

Visit us online for details http://www.reliabank.com/

* Annual Percentage Yield (APY) available as of 6/1/2010. 6 month penalty for early withdrawal. New money only. Minimum opening deposit of $2,500 required. Stated APY available with checking account and debit card. Lower rate will apply if requirements are not met. Offer available for a limited time.


** Annual Percentage Rate (APR) available as of 6/1/2010. Payment example: 48 monthly payments of $469.31. Automatic payment from Reliabank checking account required to earn stated rate. Other terms and rates available ependent on loan amount and credit qualifications. Visit with a Reliabank loan expert to review your options.


*** Ultimate rate 4.07% Annual Percentage Yield (APY) paid on balances between one penny and $25,000.00, and 1.01% APY paid on all amounts above $25,000.00 each cycle the minimum qualifications are met. If you do not meet the qualifications per cycle, your account will still function as a free checking account earning Base Rate 0.10% APY. Rates effective as of publication date. We may change the interest rate and APY at any time after the account is
opened. No minimum balance required, however, you must deposit $50 to open this account. Available to personal accounts only. No monthly service charge. Visit with a CSR to learn about the qualifications.