Who doesn't love the smell of hot, crispy bacon in the morning? At Lincoln Savings Bank, our bacon-mania is crazier than most; not only do we love eating it, but we also help many pork producers around the communities we serve get the funding they need. With October being National Pork Month, we decided there was no better way to top of the month than with all the numbers, facts and other details we love about bacon!

There is no president in our country’s history as recognizable as Abraham Lincoln, the namesake of Lincoln Savings Bank.  From the stovepipe top hat to the beard, “Honest Abe” cut quite a figure back in his day. That’s why we figured there’s no greater costume for your child this Halloween than being The Great Emancipator himself! 

Now there's a costume that makes your child look
absolutely presidential! 

With Halloween just days away, we’ve put together an Abe Lincoln Halloween Costume “How-To” including the materials you’ll need and how to put everything together.

The Top Hat

This may be a little tricky depending on the size of your child’s head. One method we found was to use an empty oatmeal can and circular cut piece of cardboard wrapped in black duct tape. It can be secured by using a piece of thin elastic string that slides down under the chin.

The Beard

You can cut out a beard from brown felt and use spirit gum to attach it to your face. You can also use synthetic hair or draw on a beard if you’re in a pinch. Remember, its beard only, no mustache!

The Black Bow Tie

Lincoln was famous for wearing either a black bow tie or cravat. Make sure you get that detail right for you or your child’s costume.

Everything Else

Black pants and a white shirt should be easy enough, but the jacket is where you may run into trouble. Try to find a child-size suit at a thrift store, or borrow one from a friend or family member.

We would also love to see anyone who’s dressing up as Honest Abe, so be sure to post a picture of your Abe to our Facebook page. From all of us at Lincoln Savings Bank, we hope everyone has a safe Halloween full of spooks, scares and of course, lots of candy from trick-or-treating!

All of these costume ideas come on a budget. What smart money costumes can you come up with?

Who remembers the good old days when you could toss an old sheet over your head, cut out some eye holes and hit the neighborhood for trick-or-treating as a ghost? 

We’re getting into the spirit of Halloween at Lincoln SavingsBank! Our “treat” for you is a break from the regular financially-focused blog articles to share some do-it-yourself (DIY) costume ideas. We couldn’t completely abandon our financial roots - many of these ideas will have you looking great for less cost than buying a costume. Saving money and using your creative energy!

You may need basic craft skills for some of these costumes, but most of them are very easy to make. 

• Bats are a staple of Halloween. This bat costume is easy if you have some black clothes and an old black umbrella lying around!
• It wouldn’t be Halloween without vampires!  The costume is simple: slicked back hair, white face paint, a piece of black fabric for a cape and of course, some red paint or fake blood by the mouth.
• Did you love Legos as a kid? Bring back the blocks with this great costume! 

Going out as a couple or partner this year for Halloween? We have some great ideas!

• Breakfast is the most important meal of the day, so go as bacon and eggs!
• Tom Hanks from the movie “Castaway” and his volleyball friend, Wilson: it’s as simple as a fake beard, ragged shorts and a paper machéd beach ball painted white with a red face!
• A perfect father-son costume, the little boy and old man from the movie “Up” will have everyone talking! 

Whatever you decide to dress up as for Halloween, we’re confident you’ll look great! Remember to stay safe when trick-or-treating, and don’t eat all the candy all in one night!

Perhaps you’ve had a bad dream that goes something like this: you visit an ATM to withdraw cash, but you get a message saying your account has been overdrawn. “This is a mistake,” you think. You hurry home, log on to your online banking account and your account balance reads “$0.00.” This can’t be happening, can it? 

Staying calm and following the right steps can help put
you on the right path after identity theft.

Unfortunately, this scenario happens to thousands of people every year. Americans lost $559 million to online thieves in 2009, and as we’ve discussed before, criminals are persistent when attempting to gain access to your accounts.  Lincoln Savings Bank utilizes the latest technology and has implemented multiple layers of security to safeguard your account information, but it’s possible that fraud may still happen.  Here’s what to do in the event you think you’re account information or identity has been stolen. 

• Call your bank immediately to put a hold on your account. If needed, the bank can also help close your compromised account and establish a new one to ensure no continued fraudulent activity.
• Ask your bank to file a “fraud” claim on your account. This allows the bank to put the appropriate fraud alerts on your account.
• Check all three of your credit reports at AnnualCreditReport.com. You get a free report annually from all three agencies, so use them to see if any new inquiries have been made.
• Call the companies that made credit inquiries to see if any new accounts were opened. Have them close the accounts that were set up by the thieves.
• Submit a police report. More than likely you’ll have to contact your local police, but you should still contact the police in the area where fraud was committed to see if they’ll take action.
• Be sure to follow up with your bank and the credit agencies to confirm any changes or alerts on your account have been set up. It’s better to be safe than sorry. 

Most of all, you have to be your own advocate in the event your account is compromised by an identity thief.  Continue calling and talking to people until you get a satisfactory resolution.  Should this event happen to your Lincoln Savings Bank account, we will do everything we can to help get you back on track financially.

As we touched on in our last blog post, fall brings with it the chillier weather Iowans know all too well. From cold, rainy days to gusting winds, the fall and upcoming winter can be harsh, making it a challenge to keep your home warm and cozy. Add to that the Farmer’s Almanac prediction for a colder and snowier winter for the Midwest, and things are looking pretty daunting.

Turning down the thermostat or using a programmable
thermostat can help reduce energy usage.

However, Lincoln Savings Bank would like to help you and your family stay warmer this winter and save money in the process. Here are a few ideas to prepare your home for colder weather that also help cut down on the heating bill.

Defeat the drafts- cold air that sneaks in anywhere there are small openings around doors can sap your home of anywhere between 5-30% of its heat. A “draft snake” or other draft reducing product can help keep your home warmer for very little cost to you.  Even a rolled towel tucked behind exterior door thresholds can help reduce drafts.

Change your air filter monthly- dirty and clogged up filters put more strain on your heating system, making it run longer to heat your house. Change your filter monthly to be sure your furnace runs efficiently.

Turn down your water heater- it sounds like the opposite of what you want to do during winter, but it will help save money. Most heaters are preset at 140 degrees, but turning it down to even a couple of degrees still provides warm enough water at a reduced cost.

Mind the thermostat- if you’re not home during the day, why waste energy to heat your home? If you have a programmable thermostat, set it to start heating your home a little before you get home in the evening so that it’s just the right temperature when you walk in the door. Also, for every degree you can lower your thermostat you’ll save 1-3% of your heating bill.

Cover the windows- we know covering your windows with plastic may seem tacky, but it really can help. Also, closing drapes can help with drafty windows.

We hope these tips help you and your family to stay a little more comfortable this fall and winter while saving money that can be used for more important things. If you need help managing your energy savings, Lincoln Savings Bank is just a call or visit away!

There’s no doubt that fall is here once again in Iowa. The leaves have started to change, the weather has gotten a bit crisper and the countdown to Halloween is on. The change in the calendar and the seasons also brings with it different expenses you’ll have to account for when budgeting during the fall months. 

Like every season, fall brings its own expenses and challenges
for budgeting and savings.

Lincoln Savings Bank wants to make sure you’re financially prepared for the coming months, so let’s take a look at some expenses you and your family could be facing in the next couple of months.

Heating- yes, we all know the fall and impending Iowa winters can be severely cold. However, the Farmer’s Almanac and other forecasts are calling for a colder fall and winter, meaning you’ll be relying on your furnace more. A thorough examination by a technician is a good place to start, and changing out the filter every month will help airflow efficiency so you spend less on heating when you need it.

Electricity- as the days grow darker earlier, you’ll be flipping on light switches and lamps earlier in the evening. Be smart about what lights you have on and off, and create a plan for keeping unused appliances unplugged to help with energy savings.

Warmer clothing- a 2012 North Dakota University study found the average American family spends about $2,000 a year on new clothing. When you’re out shopping for pants, sweatshirts and jackets, try retailers like TJ Maxx, Kohl’s or others that routinely mark down prices and have sales. Also, don’t be afraid to comparison shop to find the best price.

Food- if this fall and winter are as harsh as the Farmer’s Almanac predicts, you could be faced with rising food prices at the grocery store. This calls for a shopping list filled with items that can easily be made into casseroles or other recipes that can feed a family for more than just one meal. Crockpots can also be an important ally. Again, you may need to comparison shop at different stores for the best deals.

Through smart budgeting and a careful plan of how your heating and electricity are used, you can it make through the fall with relatively little change in your finances from summer. If you need help with your finances or have additional questions, Lincoln Savings Bank would be glad to help!

It’s that time of year in Iowa when fall foliage turns the landscape vibrant shades of yellow, orange and red.  It’s also the time of year when Iowa roadways grow a little more dangerous because the deer population becomes more active and are often spotted along roadways.  Of all states in the United States, Iowa ranks behind only West Virginia in the likelihood of deer collisions, followed closely by Michigan. 

Be sure to use caution when going around sharp turns like these, you
never know what's around the corner.

Collisions between automobiles and deer are responsible for approximately 150 fatalities and about $1.1 billion in property damage every year in the U.S. according to the National Highway Traffic Safety Administration (NHTSA).  Fall and winter are mating and migration season for deer, which means they are on the move and more likely to be on our roadways. Here’s a list of common sense do’s and don’ts to avoid a deer collision:

• Know When They're Most Active- Deer are most active during the months of October to December and likely to be seen about two hours before/after dawn and in the evening from about 6:00 – 9:00 PM.
  
  
• Be Aware of Posted Deer Crossing Signs- These signs are placed in active deer crossing areas and alert you of an increased likelihood of encountering a deer.
  
  
• Use Your Headlights- Use high beam headlamps as much as possible at night to illuminate the areas from which deer will enter roadways. High beams also help illuminate the animal's eyes so you can spot them sooner. Flicker your brights to alert drivers in the opposite direction if you spot a deer or herd.
  
  
• Deer Generally Travel in Herds- If you see one deer, there is a strong possibility others are nearby. Slow down and look for others before proceeding.
  
  
• Drive Defensively- Do as your driving instructor told you: Drive defensively and be ready to take evasive action, including braking suddenly. If you see a deer, don’t swerve.  Brake firmly and honk your horn to try and frighten it away.
  
  
• If There Is No Other Option, Hit The Deer- If you have a choice between hitting an animal and swerving into traffic or off the road, hit the animal. It may seem cruel to say, but studies show many crashes happen not only when drivers hit deer, but also when they collide with another vehicle while trying to take evasive action.

If you hit a deer, don’t touch it.  If possible, move your car off the road and report your collision to the police right away.  Motorists are not allowed to keep the animal unless law enforcement provides a permit at the scene of the accident. 

It may be a good time to review your auto insurance policies to verify you have adequate coverage in the event of a deer collision.  Lincoln Savings Bank (LSB) operates a full-service insurance agency, and would be happy to provide a competitive insurance quote for your personal vehicles.  Just complete the short form here!

We’ve discussed the concept of budgeting many times in past blog posts, and for good reason. The ability to budget responsibly AND follow through with that budget is a lifelong skill that separates those who manage money well and those always wishing they had more. According to The Millionaire Next Door by Thomas J. Stanley and William D. Danko, budgeting is one thing that sets the wealthy apart from the rest of us — 55% of millionaires keep a budget.

Taking the time to budget can mean more money in your
account and less stress over finances.

There are many different ways to budget and to stick to your budget, so the question becomes “Which budget is right for me?”  Let’s take a look at a few very different budgeting methods to see which one best fits your lifestyle.

Zero-Based Budget

In this type of budget, the money you take in and money you spend should equal out to zero. It’s simple to do: draw a line down the middle of sheet of paper. On the left, write down all your income (job earnings, income from a side job, child support, etc.). On the right, write down all of your expenses. Don’t forget to “pay yourself” in expenses by putting a set amount into savings.  If it doesn’t equal zero, adjust your spending until it does.

Three-Step Budget

This budget is simple in concept and effective if you follow it:

1. Destroy all your credit cards.
2. Invest 20% of all that you earn. (And never touch it.)
3. Live on the remaining 80%, no matter what.

There are a number of budget methods similar to this where your spending is broken down into percentages with some allocation to investing or savings.  If this concept seems like it may fit your lifestyle, you may also want to take a look at the 60% Budget or the Balanced Money Formula. 

The Cash Only Budget

This budget operates on the psychological principle that physically handing over cash as opposed to swiping a card will help you save. It has been shown that using just cash makes people rethink their purchases. Some drawbacks of this budget are that it forces you to carry a good amount of cash with you everywhere you go, it can be hassle trying to get the right amount of cash every week from your bank, and you miss out on the opportunity to earn rewards on your debit and credit purchases.

Really, any budget comes down to this: are you bringing in more than you’re spending? You can create your own budget keeping this principle in mind, and don’t forget to pay yourself first! Lincoln Savings Bank’s Budget Plus Personal Financial Management tool can help you break down your budget to see where you can spend less. If you have any other questions, you can always call your nearest LSBbranch for help!

As parents, we always want the best for our children and want to help them whenever we can. However, this line can get blurred when it comes to money, more specifically how long we continue to financially support our children. There is a fine line between “helping” and “enabling” that every parent should learn to recognize. 

Setting financial expectations can help your child learn how
to manage their finances, an important life skill.

In a 2012 survey conducted by Vanity Fair and “60 Minutes”, 54 percent of today’s parents said there’s no set time for when kids should stop living at home. More concerning are the 26 percent of parents who have taken on debt and the 7 percent that have delayed retirement to help support their children.

We at Lincoln Savings Bank are parents that want the best for our children.  One of the best lessons we can give our children is teaching them how to manage money wisely throughout their lives.  Here are a few ideas to help your children become financially independent: 

• Set the expectation early that if your child wants something besides the basics you provide them with (food, clothing, shelter, etc.), they need to help earn part or all of the cost.
• By age 16, encourage your children to have a part-time job. Not only will this provide them a way to earn money, it will also teach them work skills at an early age.
• Kids that are 18, not in school and living at home should be paying rent. You can also work on a plan with them to facilitate moving out within a certain period of time. 

When it comes to things like a credit card or health insurance, it’s okay to stay connected. You can keep your child on your health insurance until 26 if need be, and they can also be an authorized user on your credit card. The biggest thing to remember is that you’re trying to set your child up for success, not handicap them. Lincoln Savings Bank can help with their financial independence by helping set up a checking or savings accountfor your child to use responsibly, so see us today!