Smart Savings Tips

Do you and your money care about the same things?

moneybankAs the old adage goes “Actions speak louder than words.” On the topic in question, it is fair to say spending is an action that implies values. Which explains why the nature of finances can be so personal, and challenge us to ask the question, what do we value?

Is it:

  • Family?
  • Friends?
  • Health?
  • Happiness?
  • Travel?
  • Spontaneity?

In asking these questions, spending becomes a means of self-examination shedding light on our actions and our values. Sometimes they don’t add up and when they don’t add up life can get off track. Such as if you value health, and yet find on your bank statement a lot of transactions related to unhealthy fast food. Thus, prompting the questions:

Does your money care about the same things you do?
Is your budget going towards things you really care about?

In which case steps can and should be taken to realign spending with what we value. Such as:

  • Review expenditures and categorize them to see where the money is going. Know where you are now so you can make a plan going forward.
  • Recognize there may be some items in your budget that need adjusting, but will take time to achieve. For example, moving closer to work to cut down on travel and provide more family time will require time and planning.
  • Set goals to getting your money on track.
  • Make your goals visible. When you have the impulse to spend on something you really don’t value, you can stop yourself because you have visual reminders around you. Create visuals with pictures of your goals on the wall, on our computer, on your phone. Keep it readily in front of you.

Remember, money can enable a lifestyle of values and goals that reflect us. Now that you are aware of these tendencies and about what you value in life…go make your money care about what you care about.

By Heather Marshall, CFPC, MPP; Educator, AAA Fair Credit Foundation/Utah Saves


Smart Savings Tips

Fitness Goals for Your Finances

Target-iconIf you’re setting a health and fitness goal for yourself, your first step is to map out how and when you will achieve your goal. You’ll likely plan for small victories, or short-term goals along the way.

This short- and long-term planning is also the key to success in your journey through life. To get where you want to be, you’ll need to establish your course and the milestones or goals you need to achieve along the way.

Of course, the most important step in any journey is figuring out where you want to go. Take some time to ask yourself: What goals would I like to achieve within the next two years? These are your short-term goals. Then, think about the goals you have for later on in life. For example, a long-term goal might be to buy a house or to retire in 20 years.

Once you determine your goals, figure out the steps you need to take to achieve them. So if you want to buy that house, you might set a goal of saving $X per month toward the down payment. Your long-term goal might be to accumulate $X in down payment funds in five years. You should approach your short-term goals in the same way. For example, if your goal is to reduce debt in the next year, establish a specific plan for how you will pay off major loans.

As you think about your goals, do the following:

  • Write them down.
  • Be specific. Include the steps you need to take to accomplish your goals.
  • Review your list regularly to see if you’re on track.
  • Make adjustments. As your life changes, your goals may change, so make sure to review and adjust them.
  • Stay the course.

We can help you reach your financial goals. Feel free to talk to your local banker about strategies to save or reduce debt.

Smart Savings Tips

First County Bank Announces Winners of FirstPrize $avings Account Drawing

We’re pleased to announce the recent winners of the FirstPrize $avings account $1,000 drawing are Anthony and Grace Aversano of Stamford, CT. This innovative account called FirstPrize $avings is a basic savings account with a cash prize drawing component to promote personal savings. With each eligible deposit of $25 or more, the account holder earns an entry into a drawing for a $1,000 prize. The drawing occurs four times per calendar year.

fps-winnerBob Granata, president and COO, and Reyno Giallongo, chairman and CEO of First County Bank, present Grace and Anthony Aversano with their $1,000 as winners of the recent FirstPrize $avings account drawing. To encourage personal savings, the $1,000 prize is directly deposited into the winners’ FirstPrize $avings account. Account details, rules and regulations are posted on the First County Bank savings account website:

Smart Savings Tips

4 Tips on How to Save at College

moneybankBy now college students are nearing the end of their first full month of a new semester. This often means a few things: midterms are a lot closer than they appear, their roommates are likely better than they initially expected and they begin making the infamous call home asking “can you please send money”. If you plan on making this call, here are four tips on ways to save while you’re away at school.

  1. Track your expenses. This may be the most simply yet satisfying way to save some cash. In order to save, you need to know where your money is going. Additionally, tracking your expenses is a good skill to have once you enter the “real world”.
  2. Cut unnecessary costs. Learn the ins and outs of your school’s meal plan; be sure to maximize what is offered so you don’t find yourself eating out every day.
  3. Look for extra income. Aside from scholarships and grants, try getting a work-study job on campus or internships that will pay money.
  4. Build your savings. Don’t get a work-study or internship just to turnaround and spend what you make. Get in the habit of putting some money aside – the “senior-year-you” will thank the “freshman-year- you”.

For more tips on how to save at college or to read the entire article, click here

Smart Savings Tips

6 Last-Minute Strategies to Pay for College

collegesavingsmonthBy now you have most likely settled into your semester at school. If you’re already worrying about the costs of next semester, here are six strategies to use, which are recommended by specializing in college admissions.

Contact your school’s financial aid office.
Call your school today to discuss your options with a financial aid officer who can lay out funding options or direct you to the school’s payment plan, if available.

“They want the student, they’re expecting the student, they have the deposit, they’re holding a dorm for them, so they have a huge incentive to work things out for the student,” says Donald Heller, provost and vice president of academic affairs at the University of San Francisco.

Submit a student-aid application.
If you haven’t already, fill out and submit the Free Application for Federal Student Aid, or FAFSA, which is used by the federal government, states and schools to determine what kind of aid might be available to you. You should complete a FAFSA every year, as early in the year as possible to qualify for the most financial aid.

Since you’re submitting it close to the start of the fall classes, you may have missed out on certain grants, scholarships or need-based aid, but federal loan options are still available. The student aid award letter you receive from filing the FAFSA will detail what federal loans you may qualify for. The sooner you apply, the better the chances that you’ll receive any aid that’s left on the table. Let your school’s financial aid office know that you have submitted the FAFSA and keep in touch once your award letter arrives.

Appeal your financial aid offer.
If your family’s finances have taken a hit since you received a financial aid award, let your school know, since you could be eligible for more aid. Financial aid can be negotiable.

Find scholarships.
Look for scholarships with deadlines that haven’t passed, or ask the financial aid office if your school has scholarships that haven’t yet been awarded. Occasionally, a scholarship will remain open because an applicant has yet to meet the criteria, Heller says. You can find scholarships and deadlines at the U.S. Department of Labor’s CareerOneStop scholarship finder.

Consider private student loans.
Federal subsidized and unsubsidized student loans come with borrower protections and income-driven repayment options that private loans don’t offer, so the federal options should be exhausted first.

Private loans usually require a co-signer and typically carry higher interest rates than federal subsidized loans, but the private-loan option may be necessary to close a funding gap. You can borrow private loans from banks, credit unions and online lenders. College admissions experts advise to borrow no more in student loans over the course of getting your degree than you anticipate making in your first year’s salary.

Plan long-term options

“Financial aid are presented as one-year deals, so students tend to think of them as one-year problems,” says Bart Grachan, interim associate dean for progress and completion at LaGuardia Community College in Queens, New York. “So if they have cobbled all kinds of resources — ‘I have this emergency funding, this local scholarship, grandma kicked in $2,000’ — they need to multiply out the next four years and ask themselves, is that sustainable?”

Anna Helhoski is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @AnnaHelhoski

Smart Savings Tips, Trends & Tips

September is College Savings Month


The month of September is often a turning point for many – we welcome back pumpkin-flavored coffee, a new season of sports and of course, a new academic year. Annually regarded as College Savings Month, we will be using September to offer the latest tips and trends on how you can save – whether it’s your first or last semester.

Saving while in college can be as simple as having the right account. At First County Bank, we offer a variety of savings accounts. FirstPrize $avings may be the perfect fit for a college student. The account encourages you to save, by entering each eligible deposit into a drawing for $1,000!* Not only will this account instill the valuable lesson of saving each month, it can reward you for your efforts!

Stay on the lookout for more college savings tips throughout the month of September! If you’re interested in learning more about the FirstPrize $avings account, click here.


* Refer to for account official rules and disclosure.

Smart Savings Tips

7 Money Tips to Bank On

moneybankAs some Americans face unprecedented financial burdens such as student debt, the American Bankers Association is highlighting seven money tips to help them plan for a financially sound future.

“With student debt and high housing costs creating challenges for many, now is a better time than ever for to map out your finances and invest in your future,” said Corey Carlisle, executive director of the ABA Foundation. “Banks can help with everything from free budgeting tools and mobile resources to in-person check-ups to help you identify and reach your financial goals.”

ABA recommends these seven tips to help you secure a strong financial footing:

  1. Shop around. Be selective and choose a bank that’s best for your lifestyle. There are lots of banking options out there with different advantages – whether it’s the lowest fees, the widest range of services, the most convenient locations or the best loan rates.
  2. Get a head start. Banks play a major role in helping customers prepare for major life events such as buying a house and planning for retirement. Ask your banker how you can get a head start on your first major purchase by establishing credit or starting a retirement account.
  3. Don’t miss out on free money for your future. If your employer matches your 401(k) or other retirement contributions, contribute enough from day one to get the full match. It’s free money, and its value compounds over time.
  4. Save without thinking about it. Make saving a part of your lifestyle with automatic payroll deductions or automatic transfers from checking to savings. Arrange to have a specific amount transferred to your savings account every pay period.
  5. Tap into bank tech to make smarter decisions. By literally tapping into your bank’s mobile app, you can track your transactions and manage your finances. Some bank apps even highlight money-saving deals at nearby retailers. Be sure to download the latest app updates when they are available.
  6. Sign up for email or text alerts. Keeps tabs on your money by asking for an automatic alert when your balance falls below a certain level, or to confirm when certain types of transactions occur, such as online purchases or transactions of more than $20.
  7. Expect the unexpected – set up a rainy day fund. The last thing you want to be is stressed when life’s unexpected expenditures come knocking on your door. Set up a secondary checking or savings account for emergencies or link an existing account to your main account as an added layer of protection.

For additional consumer tips from ABA on things like mortgages, credit cards, fighting fraud, or saving for college, visit

Smart Savings Tips

Smart Back to School Shopping

FCB_FirstClassGrantEach year, summer passes in a seemingly never-ending whirlwind of poolside fun, time with friends and family BBQs. But, as we flip our calendars from July to August, it’s impossible to miss that the back-to-school season is just around the corner. As always, with its return is the demand for new backpacks, sharpened pencils and fresh sneakers. So how can you save money when faced with long supply lists? Here are a few tips on being a smart consumer:

  1. Get the list of mandatory school supplies from the school or teachers.
    This list should tell you exactly what you need for the upcoming school year, so you don’t have to guess.
  1. Shop your home then make a list
    Before you go on a big shopping spree, look through your drawers and closets to see what you already have and let this act as your starting point. From there, make a list of what you need to purchase and bring it to the store with you. This list, as well as the one offered by the school,  will help keep you on track while shopping.
  1. Set a budget
    Each year, stores seem to have even wider selections of school supplies to offer. It can be hard to resist buying that extra videogame, new toy or scented markers. Like having a list ahead of time, setting a budget before you shop encourages you to separate needs from wants.
  1. Look out for savings
    Before you set out on your shopping adventure, remember to search for savings opportunities and to amass any coupons. Signing up for Target’s REDcard gets you five percent off every purchase and free online shipping. Online, Kohl’s, Walmart, Staples and many other retailers offer back-to-school deals. In addition, Bed Bath and Beyond sends its customers coupons throughout the year which do not expire.
  1. Shop around
    While stores like Target and Walmart seem to have everything you could possibly need in one fell swoop, shopping around at different stores can help you find the best deals. Don’t be afraid to expand your search to online shopping, where sites like Amazon offer exclusive content or the opportunity to buy in bulk.
  1. Spend where it matters
    Saving money is always good, but it’s important to remember that some things merit the higher cost. Spending extra on a sturdy backpack that won’t fall apart midway through the year, for example, is a wise investment. For kids going to college, splurging on a comfortable mattress topper or bedspread will ensure a good night’s sleep throughout the year.
  1. Hold off on winter wear
    Although it may be tempting to buy for future seasons right now while sales are hot, hold off on buying winter gear. The clothes you buy now will be wearable for a few months and come November, there will be another round of sales for those long pants you really like. In addition, you never know when the 2 inch growth spurt may happen, which can make purchases for the future become too small and thus a waste of money.
  1. Mind the date
    One special week to mark down is Sunday, August 20th through Saturday, August 26th, when Connecticut holds its tax holiday week. For those days, the state gives customers a tax exclusion – a break from Connecticut’s normal 6.35% sales tax rate – on clothing and footwear less than $100. Take advantage of this once a year offer!
  1. Travel smart
    When you’re packing the car for college, space can prove quite the challenge. Take advantage of stores that allow customers to order school and dorm room supplies and have them set aside for you at the store closest to your son or daughter’s college. For example, Bed Bath and Beyond will reserve items selected online and set them aside at the store nearest the college. Upon arrival, you can choose to either purchase what you have set aside, or to not buy those items. Target’s order pickup option allows customers to shop online and pick up their order in select stores.  Shopping this way helps you save on car space, shipping costs, and unnecessary merchandise.  It also assures your reserved items will be available for you so you avoid the too frequent, and very disappointing, “empty-shelves-syndrome” in the college town.


Smart Savings Tips, Trends & Tips

10 Tips to Green Your Home and $ave Money

FCB_ICONS_LightbulbWhether you’re a renter or a homeowner, chances are you care about protecting the environment – and saving money. Here are some tips from the American Bankers Association to help you do both.

Location, location, location efficiency.
Carefully consider the location of your home. If you’re close to work, shopping and entertainment, you may not need a car. Without a car you would save money on gas, car insurance and maintenance, not to mention reduce pollution. If you’re thinking about moving further away, try to find something near public transportation and shopping.

Light up the house, not the electric bill. 
Replacing incandescent light bulbs with more energy efficient compact florescent light (CFL) bulbs will save you about $6 a year in electricity costs per bulb and more than $40 over its lifetime. According to ENERGY STAR, if every American home replaced just one light bulb, we would save enough energy to prevent 9 billion pounds of greenhouse gas emissions per year. Remember to recycle used CFL bulbs. Go to​ for recycling locations.

Some like it hot, hot, hot…or cold, cold, cold. 
Closely monitor your thermostat. Adjusting it just a few degrees while you’re out can save energy and money. You can make it easier by installing a programmable thermostat. Use fans and close the blinds during the warm months and let the sun in for natural warmth in the winter. Also, change your filter every three months.

How low can you go?
One way to save water is by using low-flow toilets. The most cost-effective way to do this is to simply take a 1 liter plastic bottle, fill it with water and place it inside the tank. This will reduce your water use per flush. Another way to save water is placing an aerator on all of your faucets.

Make it mean-green-clean. 
Cleaning supplies can be expensive and are made with toxic chemicals. You can save money and the environment by making your own cleaning supplies. All you need are some basic household ingredients like vinegar, lemon juice, baking soda and borax to clean everything from windows to tile. Look online for recipes and suggestions.

Reduce, Reuse, Recycle! 
Sticking to this mantra can help you save money around the house. Use a rag instead of paper towels. Buy products in bulk, concentrate or refillable containers to reduce packaging waste. Look for products made from recycled content. And don’t forget to recycle!

Win-dos for your windows. 
There are a number of ways you can make your windows more energy efficient without replacing them. For better insulation from the weather you can caulk exterior joints, put shrink wrap on them or hang blackout curtains.

Fan the green flames.
To keep your refrigerator running efficiently, keep the fan clean. The motor won’t have to work as hard if the fan is clear of debris.

Decorate green. 
Houseplants are like living air-filters. English Ivy, rubber trees, peace lilies and red-edged dracaena can help clean the air and look pretty too.

Vampire energy is sucking you dry. 
On or off, anything plugged into the wall sucks energy. Vampire power costs U.S. consumers more than $3 billion a year, according to the U.S. Energy Information Administration. Unplug your electronics and appliances when they’re not in use.


Smart Savings Tips, Trends & Tips

6 Financial Traps New College Graduates Should Avoid

FCB_GradCapAs college seniors across the nation graduate and start their careers, their financial lifestyle should be top of mind, says the American Bankers Association. ABA has highlighted six traps new college graduates should avoid to fortify their finances as they transition from the dorm to the office.

“Now is the time for college grads to get their financial life started on the right foot,” said Corey Carlisle, executive director of the ABA Foundation. “When it comes to managing your finances in the real world, pulling an all-nighter isn’t the best strategy.  Forming positive financial habits today will set you up for lifelong success.”

According to the ABA, new college graduates should avoid the following financial traps:

  • Not having a budget.  Don’t spend more than you make. Calculate the amount of money you’re taking home after taxes, then figure out how much money you can afford to spend each month while contributing to your savings. Be sure to factor in recurring expenses such as student loans, monthly rent, utilities, groceries, transportation expenses and car loans.
  • Forgoing an emergency fund.  Make it a priority to set aside the equivalent of three to six months’ worth of living expenses. Start putting some money away immediately, no matter how small the amount. A bank savings account is a smart place to stash your cash for a rainy day. Use your tax refund for this instead of an impulse buy.
  • Paying bills late – or not at all. Each missed payment can hurt your credit history for up to seven years, and can affect your ability to get loans, the interest rates you pay and your ability to get a job or rent an apartment. Consider setting up automatic payments for regular expenses like student loans, car payments and phone bills.
  • Racking up 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.
  • Not thinking about the future.  It may seem odd since you’re just beginning your career, but now is the best time to start planning for your retirement. Contribute to your employer’s 401(k) or similar account, especially if there is a company match. Invest enough to qualify for your company’s full match – it’s free money that adds up to a significant chunk of change over the years.
  • Ignoring help from your bank. Most banks offer online, mobile and text banking tools to manage your account night and day.  Use these tools to check balances, pay bills, deposit checks, monitor transaction history and track budgets.