Online Banking

Online Banking Login

When You Love Your Finances, They’ll Love You Back!

Personal finance is a topic many people don’t love talking (or even thinking) about. Are you one of them? If so, take heart. When you embrace your finances, you may find that what was once a cause for stress and anxiety becomes a source of empowerment. Really!

Here are five ways to give your money a hug and embrace your finances with open arms:

  • Earning
  • Spending
  • Saving
  • Borrowing
  • Protecting


1. EARNING: Prioritize Your Income

Your earnings are the foundation of your financial stability, so it’s important to understand what you actually earn—and what it can do for you. Take time to familiarize yourself with the numbers on your paystub and in your bank statements.

At Farmers & Merchants Bank, we offer services like person-to-person payments (P2P), alerts, and mobile deposits to simplify your financial management.

2. SPENDING: Track and Optimize

It may seem counterintuitive, but the more you monitor your expenses the less they will stress you out. Housing costs such as rent or mortgage should ideally be less than 33% of your monthly gross income.

Review your e-statements or try a spending app to categorize your other expenses and analyze patterns. Knowing where your money is going will help you make better choices and feel more in control.

3. SAVING: Build a Financial Safety Net

Take a look at the savings you have right now. Could it cover several months of expenses? If not, we can help you get there. Regular saving, even a small sum, accumulates over time.

Create a savings plan tailored to your goals, whether it’s an emergency fund, wedding, or vacation. Farmers & Merchants Bank offers a personal savings account with a $10 minimum deposit, providing quick access to your funds in emergencies.

4. BORROWING: Navigate Loans Wisely

Borrowing is how most people manage to buy a house, get a car, or start a business—but it’s important to learn the ins and outs of “smart borrowing.”

Manage debt effectively, explore the best ways to reduce it, and establish manageable repayment plans. A well-informed approach to borrowing fosters a healthier relationship with money.

5. PROTECTING: Prepare for the Unexpected

We can’t prevent unexpected disasters from happening, but there’s a lot we can do to prepare for them. Most people don’t have a plan to withstand financial hardship, but you can start one now. The best first step is to build your savings, as we talked about a minute ago.

You can also safeguard your money by educating yourself about fraud prevention. Recognize warning signs and promptly report any suspicious activity to your financial institution. At Farmers & Merchants Bank, we’re here to assist you in securing your finances.

Engaging with and learning about your finances can actually be kind of fun. You can even test your money smarts by using the FDIC’s games. Plus, great resources are out there like booksYouTube videos, and podcasts that can help you learn the basics of personal finance.

Farmers & Merchants Bank remains committed to assisting you in making informed decisions about your money. Whether you need guidance on savings accounts, business loans, or any other financial matter, we’re here to help you give your money a big hug. Remember—the more you learn to love your finances, the more they’ll love you back!