We’ve all heard of a family member or friend who swears keeping cash at home is safer than in a bank or credit union, especially during times of inflation. While it may be tempting to hide away your nest egg in your sock drawer or stuffed under the mattress, keeping large amounts of money at home is one of the riskiest ways to keep your cash.

To safeguard your funds and your peace of mind, Community Financial is here to answer all of your questions about handling cash during times of inflation.

Why is it a bad idea to keep cash at home?

While it’s perfectly OK to keep some cash at home, storing a large amount of funds in your house has two significant disadvantages:

• The money can be lost or stolen. Hiding cash under the mattress, behind a picture frame, or anywhere else in your house always carries the risk of it being misplaced, damaged, or stolen. As careful as you may be, circumstances beyond your control may cause you to lose that money.

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Raising children in today’s society has a variety of challenges, but none so timeless as the need to teach one’s children about finances. Financial education is a topic often missed in traditional schooling, leaving parents and loved ones to teach healthy financial habits on their own. While it may seem overwhelming to do so, raising financially independent children will help smooth the transition into adulthood, giving them the tools needed to achieve and maintain financial wellness throughout their entire lives.

To help get your financial education discussion rolling, we’ve compiled a variety of tips for raising your children to be financially independent.

Start with the Basics: Budgeting

Successful budgeting is the foundation of every financially independent household. You can introduce your children to the concept of earning money and spending it mindfully when they’re still young, and then build upon that knowledge as they grow older.

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Talking finances with your partner may not be your idea of a shared romantic moment, but communicating openly about how you manage your money is a crucial part of having an honest and trusting relationship. It’s fairly common knowledge that arguing about money is one of the leading cause of divorce in the U.S., and no one wants to be the next statistic. To avoid defensive behavior or friction, we’ve compiled a list of ways for you and your partner to have a comprehensive, yet productive, discussion about money.

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Did you know that April is Financial Literacy Month? While it’s a good idea to keep your financial education up to date all year long, now is the perfect time to take a step back and reassess your finances and the techniques you use to stay financially literate. Whether you’re looking to brush up on your own knowledge, or learn tips for teaching money-smart choices to your children, there’s always something new to learn. Below, you will find a handful of our favorite financial resources to help build your knowledge during this year’s Financial Literacy Month!

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Each January, millions of people select their New Year’s resolutions, such as spending less, paying down debt, and focusing on physical health. Now that we’re in March, many of those same goals may be moving to the back-burner. Without the glitz and glam of New Year’s in the rearview mirror, you may be wondering how to stick to your financial goals this Spring.

In order to build financial habits that last, it’s important to create an effective foundation. Below, we’ve compiled a list of tips that can help you keep those resolutions, while creating health savings and credit habits that will last a lifetime.

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Congratulations! You’re expecting a baby and you’re breathless with excitement — and nerves. Whether you’re pregnant, adopting, using a surrogate, or something else, a baby means big changes, and a part of those changes is lots of new expenses. How will you pay for it all?

We’ve got the tips you need to prepare financially for a new baby.

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