Is a Charitable Trust A Good Option for You
Philanthropy is a key to the success of our region. The financial generosity of donors combined with donations of time and talents directly enrich the lives of those in need. This indirectly enriches the lives of us all. If you would like to make a gift now that will benefit both you and the charitable […]
Meet Jill McAndrew
Jill is an Operations Associate at Heartland Trust Company, handling the day-to-day tasks for the Operations team. Her optimistic outlook and upbeat personality make her a great coworker! Tell us about yourself. First, I have a confession. I am a terrible cook and the cupcake recipe below is from my mom. There is almost zero […]
HTC Team News and Honors
Paula Stebner (VP, Trust Officer) and Jon Benson (VP, Trust Officer) tended our booth at the Great Plains Land Expo presented by Pifer’s Auction & Realty in June. They discussed how Heartland Trust can assist with land ownership issues. They also met former Minnesota Viking Chad Greenway, who was the keynote speaker at the event.
Teaching Your College-Age Child About Money
When your child first started school, you doled out the change for milk and a snack on a daily basis. But now that your kindergartner has grown up, it’s time for you to make sure that your child has enough financial knowledge to manage money at college.
Lesson 1: Budgeting 101
Perhaps your child already understands the basics of budgeting from having to handle an allowance or wages from a part-time job during high school. But now that your child is in college, he or she may need to draft a “real world” budget, especially if he or she lives off-campus and is responsible for paying for rent and utilities. Here are some ways you can help your child plan and stick to a realistic budget:
- Help your child figure out what income there will be (money from home, financial aid, a part-time job) and when it will be coming in (at the beginning of each semester, once a month, or every week).
- Make sure your child understands the difference between needs and wants. Your child should understand how important it is to cover the needs first.
- Determine together how you and your child will split responsibility for expenses. For instance, you may decide that you’ll pay for your child’s trips home, but that your child will need to pay for art supplies or other miscellaneous expenses.
- Warn your child not to spend too much too soon, particularly when money that has to last all semester arrives at the beginning of a term.
- Acknowledge that college isn’t all about studying. While you should include entertainment expenses in the budget, encourage your child to stick closely to the limit you agree upon.
- Show your child how to track expenses by saving receipts and keeping an expense log. Knowing where the money is going will help your child stay on track.
- Encourage your child to plan ahead for big expenses (the annual auto insurance bill or the trip over spring break).
- Caution your child to monitor spending patterns to avoid excessive spending, and ask him or her to come to you for advice at the first sign of financial trouble.
Prepare and Enjoy
Before the start of every Concordia football game, Coach Terry Horan quotes Joshua 1:9: “Be strong and courageous. Do not be terrified; do not be discouraged, for the Lord your God will be with you wherever you go.” As we move through life, there are defining moments that we can prepare for and some we […]
Meet Dustin Sobolik
Dustin is the Investment Officer at Heartland Trust Company. He oversees investment research, meets with analysts, and does much of the financial planning for our clients. Tell us about yourself. I’m a north Fargo native and attended Minnesota State University Moorhead from 2007 to 2011. I guide discussions in our Investment Committee and have a […]
Inflation Doesn’t Retire When You Do
The need to outpace inflation doesn’t end at retirement; in fact, it becomes even more important. If you’re living on a fixed income, you need to make sure your investing strategy takes inflation into account. Otherwise, you may have less buying power in the later years of your retirement because your income doesn’t stretch as […]
Trusts Built Trust
Next year – 2020 – will mark 30 years that Heartland Trust Company has served our community. As you might know, we started our business by managing trusts, serving as trustee for the benefit of our clients and their beneficiaries. And over the decades, these trusts led to your trust – and our growth. Today, […]
When to Consider Target-Date Funds
Since target-date funds were first offered in the early 1990s, they’ve become a widespread investment vehicle for retirement. Their booming popularity is no surprise. After all, a target-date fund (or TDF) is easy for novice investors to manage, and even experienced investors can appreciate the hands-off simplicity they can offer. But do your research: a […]
HTC Team News and Honors
Brian Halverson, President, currently serves on the Board of Directors at the Plains Art Museum in Fargo. Brian also recently presented to the Financial Management Association (FMA) group at Minnesota State University Moorhead. FMA is a student organization that helps aspiring professionals with networking and skill development for financial careers.
