Every day you make a lot of decisions. One study found that the average adult makes 122 informed choices every day. While some decisions, like your attire for the day or meal of choice, may seem insignificant, others can set you on a course for long-term financial success or failure. The best way to ensure you make informed decisions for your fiscal future is with a financial plan. 

October is National Financial Planning Month, which gives us a fantastic opportunity to share the importance of financial planning. Keep reading to learn how you can define financial success, the value of financial planning and how to create your plan.

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Entrepreneurship is a dream for many individuals who are tired of their current working situation or desire to have more control over their careers. There’s nothing like the feeling of being your own boss. 

However, it can be extremely difficult to get the funds you need to lift your idea off the ground. Budding businesses can face many obstacles and endure many ups and downs in their first few months or years of business. One online survey found that not knowing where to start was a significant reason entrepreneurs quit their business ideas. 

You can overcome these initial hurdles with the proper support and tools at your disposal. A competitive commercial loan is a tool that many entrepreneurs use to get the jumpstart they need. So the question is: where should you seek this type of loan, and what lender will offer the best combination of competitive rates, local economic knowledge and excellent service?

A local bank may be the best lending partner for you. Check out our top reasons why you should consider starting a new business and why you should seek a loan from a local bank.

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Small businesses are foundational to the United States economy. In 2019, it was reported that small businesses make up 44% of all U.S. economic activity and are responsible for two-thirds of all jobs in the country. Small, local companies add value to their communities by providing essential goods, services and employment opportunities to the area and stimulating the economy.

If you’ve thought about starting your own business, you may have wondered how to get enough capital to start your venture. 

You’re not alone. One of the most common challenges starting entrepreneurs face is a lack of funds when trying to get their businesses off the ground. While there are a few ways to get the cash you need, a commercial loan from your local bank is a great option.

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Life can be unexpected. Accidents, emergencies and repairs never come at a good time. Even if you plan for your financial future, sometimes you will have an expense you didn’t anticipate. 

Many people are unprepared for urgent pop-up expenses. About 56% of Americans can’t pay for an unexpected $1,000 bill with their current savings, according to a Bankrate telephone survey from January 2022. 

One in four Americans (25%) don’t have an emergency fund. Without emergency savings at their disposal, these individuals turn to credit cards or loans to pay for unforeseen expenses. 

You can help your future self by setting aside money for emergencies. 

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We all need a way to get around. For most of us who live outside of major metro areas, a car is our best bet to get from point A to point B. In 2020, a ValuePenguin survey found that 91.55% of all households reported having at least one vehicle. Cars are essential to getting you to work, getting your kids to school and running every errand you can think to run. Our automobiles are critical to our daily lives.

So, what are your options if your current jalopy goes kaput or you need a different vehicle to suit new needs?

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