School Is Almost Back in Session, So It’s Time to Get Involved With Cent$ible Kid$

By Jorge Santiago It’s never too early to teach your kids the importance of saving their money. But, in fact, many children get to high school lacking the financial knowledge necessary to navigate the next chapters in their lives. Understanding this, The Milford Bank launched its Cent$ible Kid$ program in 2008. We envisioned that the […]

What’s the Difference between a Debit Card, a Credit Card and an ATM Card?

By Pam Reiss How big is your wallet? It might be quite large due to the amount of plastic it holds. Believe it or not, 78 percent of Americans carry $50 of cash or less on them at any given time. That’s because these days, virtually anything can be purchased with credit cards or debit […]

What is the difference between the mortgage rate and APR?

By Paul Mulligan You are eyeing a 15-year fixed mortgage rate of 3.125 percent. But next to the mortgage rate there is another number that says 3.17 percent annual percentage rate (APR). So what’s the difference between the two numbers, and how does it affect you? Your mortgage rate is the baseline interest that you […]

Protecting your finances following divorce

By Celeste Lohrenz Separating from a spouse is not an easy time. Still, important decisions need to be made related to your finances. Following a separation, you should figure out how to live on your own income. You also should learn about what is going to become of your retirement assets, what Social Security benefits […]

How to turn your hobby into a home business

By Bob Russo If you had all the money in the world, what would you choose to do for work? That’s the question we’re supposed to ask ourselves to identify what we’d prefer to do for a living. Maybe your response to that question indicates that you’d like to become a photographer, for example, or […]

How do I calculate my net worth?

by Patty Gallagher Do you know how much money you would amass if you paid off all of your debts and sold all of your assets? That number is referred to as your net worth. While we would all like our net worth numbers to be near those of Warren Buffet ($65.1 billion) and Bill […]

Hidden Ways to Save Money Each Month

By Lynda Mason Today’s difficult economic climate has affected many individual’s finances. And it certainly doesn’t help that the prices of everything—from gasoline (did you know gas costs consumers 5 percent more this year than last year at this time?!) to electricity to food—seem to be increasing. At The Milford Bank, we understand the realities […]

Just Married: What to do with your finances?

by Chaz Gaines Congratulations on tying the knot! You and your spouse might find yourselves fortunate enough to wonder what to do with your newfound resources. In either case, do you say “I do” to merging your savings and checking accounts or do you keep it all separate? Years ago, it might have seemed like […]

Hidden Ways to Save Money Each Month

By Lynn Viesti Berube Today’s difficult economic climate has affected many individual’s finances. And it certainly doesn’t help that the prices of everything—from gasoline (did you know gas costs consumers 5 percent more this year than last year at this time?!) to electricity to food—seem to be increasing. At The Milford Bank, we understand harsh […]

The Milford Bank: Focused on Turning Your Children into Cent$ible Kid$

By Bob Russo Recent research indicates that 27 percent of parents with children who are minors don’t have any money saved for them. What’s more, in 2012, the average financial literacy score for high school students was a “D.” It’s never too early to start learning about finance. That’s precisely why we at The Milford […]