CHB Blog

Dreaming of sandy beaches, road trips, or that long-overdue getaway? You’re not alone. Summer travel is one of life’s best rewards—but it doesn’t have to come with a financial hangover. With a little planning (and a few smart tools), you can fund your trip without blowing your budget.

Start with a “Sinking Fund” (Your Vacation MVP)

A sinking fund is simply a dedicated savings bucket for a specific goal—in this case, your summer trip. Instead of scrambling to pay for everything at once, set aside a little money each week or month.

Coastal Heritage Bank even offers seasonal savings options to help you steadily build funds for things like vacations.

Think of it this way: $25 a week starting in the spring adds up to $300+ by summer, without the stress.

Let Your Everyday Spending Work for You

Travel rewards aren’t just for frequent flyers. Using your debit or credit card for everyday purchases helps you track spending, stay organized, and even unlock perks. With Coastal Heritage Bank’s debit card, you can monitor purchases, set spending alerts, and manage your budget from your phone—so there are no surprises when it’s time to travel.

If you use rewards-based cards wisely (read: pay them off each month), those everyday expenses can turn into travel perks, cashback, or savings on your trip.

Plan Smart, Spend Smarter

A great trip doesn’t have to be an expensive one. A little flexibility goes a long way: Travel midweek or during off-peak times.

Book early to lock in lower prices.

Look for free or low-cost activities at your destination.

Building a simple travel budget ahead of time helps you prioritize what matters most—whether that’s great food, experiences, or relaxation.

Use Tools That Keep You in Control

Before you go, take advantage of your bank’s digital tools. With Coastal Heritage Bank, you can track spending trends, set limits, and even manage your card while traveling—helping you stay on budget wherever you are.

The Bottom Line

Saving for summer travel doesn’t mean sacrificing fun, it just means being intentional. By starting early, using the right tools, and making smart spending choices, you can enjoy your getaway knowing it’s already paid for.

If you have any additional questions about budgeting for your summer getaway, please visit one of our branches or visit us online at coastalheritagebank.com.

Now the only thing left to plan? Where you’re going.

Spring doesn’t just reveal what winter left behind—it shows what we’ve been ignoring. Your finances are no different. Now is the time to clear the clutter, streamline your systems, and make your money work intentionally again.

Begin by reviewing subscriptions. Streaming services, unused apps, forgotten memberships—small monthly charges gradually add up to significant leakage. Conducting a quick audit can instantly boost cash flow and improve visibility into your actual spending patterns.

Next, evaluate refinancing options. Interest rates and personal situations change, and reviewing current loans or mortgages can reveal savings. For homeowners, a Home Equity Line of Credit (HELOC) can be a strategic choice—offering flexible, lower-interest access to funds compared to high-interest credit cards.

If debt has become scattered, consolidation can bring clarity. Combining multiple balances into a single payment, often at a lower rate—can make managing debts easier and reduce the total interest paid over time. When done properly, this approach turns scattered debts into a focused payoff plan.

Next, review and update your savings goals. What seemed enough last year might no longer reflect today’s realities. Reevaluate emergency funds, upcoming expenses, and long-term priorities. Even small increases can help regain momentum and strengthen financial confidence.

As you reset, choosing the right banking tools is important. Explore Coastal Heritage Bank’s range of solutions designed for this specific moment. Our Coastal Plus Home Equity Line uniquely combines revolving access with fixed-rate options, providing you with flexibility without losing predictability. Personal loans can help with debt consolidation or major expenses, while upgraded checking accounts simplify daily financial management with modern digital features.

Spring cleaning isn’t about perfection—it’s about progress. And in finance, even small, deliberate changes can build a cleaner, stronger foundation for everything to come.

If you have any additional questions about spring cleaning your finances, please visit one of our branches or visit us online at coastalheritagebank.com.

For many people, a tax refund feels like found money. It’s tempting to treat it as a bonus for a vacation, a new gadget, or a few well-earned splurges. But financial experts often advise viewing your refund differently: not as extra money, but as a chance to improve your financial stability.

One of the smartest strategies is to allocate part of your refund into savings. Creating or rebuilding an emergency fund can help cover unexpected costs—like a car repair or medical bill, without resorting to credit. Even saving a portion of your refund can build a valuable financial cushion.

Another good option is paying off high-interest debt. Using your refund to pay down credit card balances or personal loans can greatly cut the interest you pay over time. Lower balances not only improve your financial health, but also free up future income that would otherwise go toward interest payments.

Some taxpayers also use refunds to invest in long-term goals. Contributions to retirement accounts, education savings, or other investment vehicles can help turn a one-time refund into lasting financial progress. Many taxpayers choose to split their refund through direct deposit, making it easy to send portions of the money to multiple accounts at once.

Along with making smart financial choices, tax season also requires careful vigilance. Unfortunately, scammers often target taxpayers during this time with messages claiming to be about refunds.

Fraudsters often impersonate the IRS through emails or text messages, encouraging recipients to click links or share personal information to “claim” a refund. These messages may look official but are meant to steal sensitive data.

A good rule to remember: the IRS does not contact you by email, text, or social media to ask for personal or financial information. If you get a message like this, don’t click on the link or respond. Instead, verify the details directly through official IRS sources.

To learn more about potential financial scams, please visit our Consumer Alerts Page.

Handled wisely, a tax refund can do much more than just cover immediate expenses—it can contribute to a stronger financial future while protecting your personal information.

If you have any questions about what to do with your tax refund or want to discuss how our financial advisor can help, please call or contact Nichole Wirtz at nwirtz@osaicinstitutions.com.

When you’re starting or growing a business, credit may not be the most exciting topic, but it’s one of the most important. Strong business credit can help you secure loans, negotiate better terms with suppliers, lower insurance costs, and make your company more attractive to partners and vendors. On the flip side, poor credit history is one of the most common reasons small business loan applications are declined.

For new businesses, credit often starts with you. Lenders typically rely on the owner’s personal credit score when a company has little or no financial history. That’s why maintaining good personal credit is a critical first step. Paying bills on time, keeping balances low, and monitoring your credit reports can all help strengthen your score. If you’re just getting started or rebuilding credit, resources from the Consumer Financial Protection Bureau and the Federal Trade Commission offer practical guidance.

Once your business is established, you can begin building credit in the company’s name. One of the first steps is to register for a DUNS^® Number from Dun & Bradstreet. This unique nine-digit identifier allows credit bureaus to track your business’s financial activity. From there, responsibly using business credit cards, loans, or vendor accounts and paying them on time, helps build a positive credit profile.

Monitoring your credit is just as important as building it. Review your personal credit reports regularly at AnnualCreditReport.com, the only authorized source for free personal credit reports. For business credit, request reports from major bureaus such as Experian, Equifax, and Dun & Bradstreet. Keeping an eye on these reports can help you catch errors early and protect against identity theft.

It’s also important to know your rights when applying for business credit. Under the Equal Credit Opportunity Act, lenders cannot deny you credit based on factors unrelated to your creditworthiness, such as race, religion, age, or marital status. If your application is denied, you have the right to request a written explanation and to address any issues with the lender. Building business credit takes time, but with consistent effort and sound financial habits, it can become a powerful asset for your company’s future.

If you have any additional questions, contact our Commercial Lending team online at https://coastalheritagebank.com/business-banking/commercial-loans/ or visit any of our branches.

Buying a home is exciting—but before you start touring houses or submitting offers, it’s essential to understand how the mortgage process works. Being prepared can help you select the right loan, avoid surprises, and move forward confidently. Here’s a clear, beginner-friendly explanation of what you need to know before you apply.

Types of Mortgages

Understanding your loan options is an essential first step. You’ll need a mortgage pre-approval before you start working with an agent. According to guidance from the Consumer Protection Bureau (CFPB) and housing agencies, these are the most common types of residential loans:

Conventional Loans
Offered by private lenders rather than the government. Pros include flexible terms and lower costs for qualified borrowers. Cons include higher credit score and down payment requirements.

FHA Loans (Federal Housing Administration)
Designed to make homeownership more accessible. Pros include lower down payments and more flexible credit requirements. Cons include having to pay mortgage insurance premiums.

USDA Loans (U.S. Department of Agriculture)
Available for qualifying rural and suburban areas. Pros include no down payment, but cons involve location and income restrictions.

Who are these loans best suited for?

FHA loans work well for buyers with lower credit scores or limited savings for a down payment.
USDA loans are perfect for buyers who are purchasing in eligible rural areas, meet income limits, and prefer a no-down-payment option.

What you need to qualify or be prepared for.

Before applying, make sure you’re prepared with the following:

Credit Score:
Conventional loans typically require a score of 620 or higher, while FHA may approve scores as low as 580 (or lower with larger down payments).

Down Payment:
Conventional loans usually require a down payment of 3 to 20%. FHA loans start at 3.5%. USDA loans require no down payment.

Income and Debt Limits:
USDA programs have income limits. Lenders also consider your debt-to-income ratio, usually aiming for 43% or lower.

Work with a Trusted Local Lender
Partnering with knowledgeable, local residential lenders like the team at Coastal Heritage Bank can make the process smoother and more personal. Our lenders understand the local market and offer First-Time Homebuyer programs designed to help buyers navigate financing, down payment options, and available
assistance.

Preparing in advance puts you in control. With the right knowledge, guidance, and mortgage, you’ll be one step closer to turning a house into your home.

It’s never too early to start teaching kids about money. In fact, the earlier children learn how money works, the better prepared they’ll be to make smart financial decisions as adults. Developing healthy money habits from a young age helps children understand the value of work, the importance of saving, and the power of generosity. The good news? Learning about money doesn’t have to be boring—it can actually be fun!

Start with real-life experiences

Kids learn best by doing. Instead of just talking about money, let them experience it in simple, tangible ways. Give young children a clear jar to save their coins and watch their savings grow over time. Use cash for small purchases and show them how money is exchanged for goods. For school-age kids, off er a small allowance or pay for extra chores so they can learn the connection between effort and earning.

Introduce bigger lessons as they grow

As children grow older, expand their financial lessons. Teach them how to create a basic budget—such as planning how to spend their birthday money or saving for a special item. Talk about the importance of setting goals, saving for college, and understanding the difference between needs and wants. Teens can begin learning about credit, debt, and the fundamentals of managing a checking or savings account.

Practice generosity together

Teaching kids to give is just as important as teaching them to save. Encourage them to set aside a small amount of their money to donate to a cause they care about. This helps them develop empathy and a healthy relationship with money.

Helpful resources

Use kid-friendly financial apps like Greenlight or GoHenry to introduce budgeting and saving in a safe, guided way. Board games like Monopoly Junior or The Game of Life also make learning about money fun and interactive.

The takeaway:

Intentional money lessons at every stage prepare kids to be wise stewards of their finances—and can transform your family’s financial future for generations to come. If you have any additional questions about teaching kids the value of money, please visit any of our branches or visit us online at coastalheritagebank.com.

The holiday season is a time for celebration, generosity, and connection—but it can also be one of the most financially stressful times of the year. Between gifts, travel, food, and festive events, expenses can add up quickly. The key to maintaining your finances is preparation. Here’s how to plan your holiday budget so you can enjoy the season without post-holiday regrets.

1. Start with a realistic spending plan

Begin by reviewing your current financial situation. Look at your income, bills, and any existing debt. Then, determine how much you can comfortably spend during the holidays without straining your finances. Treat your holiday budget like any other financial goal—set a specific limit and stick to it.

2. Make a detailed list

Write down everyone you plan to buy gifts for, along with any upcoming events or travel costs. Don’t forget smaller items like wrapping paper, decorations, and holiday cards—they add up fast. Once your list is complete, assign an estimated dollar amount to each category to help you stay within your limit.

3. Look for savings early

Avoid last-minute shopping, which often leads to overspending. Take advantage of early sales, discount codes, and cashback offers. You can also compare prices online before purchasing to ensure you’re getting the best deal. Starting your shopping early allows you to spread out purchases over several weeks, easing the financial burden.

4. Get creative with giving

Meaningful gifts don’t have to be expensive. Consider homemade gifts, experiences, or group gift exchanges. Even small gestures—like baking cookies or writing a heartfelt note—can make a big impact without breaking your budget.

5. Plan ahead for next year

Once the holidays are over, review your spending and set aside some money each month for next season. Creating a “holiday fund” now will make managing your budget much easier next year.

By planning early, tracking expenses, and shopping thoughtfully, you can enjoy the holidays without financial stress. After all, the best gift you can give yourself is peace of mind.

If you have any additional questions about budgeting for the holiday season, please visit any of our 11 branches or visit us online at coastalheritagebank.com.

When times feel unpredictable—whether due to rising costs, job insecurity, or market fluctuations—having a clear budget can provide stability and peace of mind. While no one can control the economy, you can take steps to strengthen your financial resilience.

1. Revisit your current spending.
Start by tracking where your money goes each month. Separate your expenses into essentials (housing, utilities, food, transportation) and non-essentials (entertainment, subscriptions, dining out). This clarity makes it easier to see where you can cut back if needed.

2. Prioritize needs over wants.
During uncertain times, focus on covering essentials fi rst. You don’t have to eliminate all “wants,” but consider scaling back—like cooking at home more often or pausing a few streaming services. Small adjustments can free up more cash for savings or emergencies.

3. Build or boost your emergency fund.
If possible, set aside money regularly for unexpected expenses. Even a small amount each month adds up over time. A healthy emergency fund—ideally three to six months of expenses—acts as a buff er against sudden income changes or surprise costs.

4. Reduce debt where you can.
High-interest debt, such as credit cards, can quickly drain your budget. If paying off balances completely isn’t realistic, aim to at least reduce them or refinance to lower interest rates. Less debt means more financial flexibility.

5. Adjust your goals, not your plan.
Economic uncertainty may require shifting priorities, but it doesn’t mean abandoning long-term goals. You might slow down retirement contributions or delay a big purchase, while still keeping your overall financial plan intact. Think of it as adjusting the pace, not the destination.

6. Stay flexible.
Your budget should be a living document, not a rigid rulebook. Revisit it monthly, especially if your income or expenses change. Flexibility ensures your plan remains practical in shifting circumstances.

7. Track your expenses.
Budget planning tools and expense trackers can help you stay on top of your finances. Popular apps like Mint and YNAB (You Need a Budget) let you track spending, set goals, and link bank accounts for real-time updates. Every Dollar provides a simple zero-based budgeting method, while PocketGuard shows what’s safe to spend after bills and savings. For those who prefer spreadsheets, Google Sheets and Microsoft Excel off er customizable templates. These tools give clarity, reduce overspending, and help build financial
resilience.

Budgeting during uncertain times isn’t about restriction—it’s about control. By understanding your money, prioritizing wisely, and preparing for the unexpected, you can navigate challenges with greater confidence and security.

If you have any questions or simply want to discuss how our financial advisor can assist you, please call or contact Nichole Wirtz at nwirtz@osaicinstitutions.com.

Scams targeting older adults are unfortunately common. Each year, older adults in this country fall victim to financial abuse, costing seniors an estimated $27 billion. Financial exploitation can take many forms, such as theft of money or property by a family member, caregiver, or scammer.

Knowing the warning signs can help protect yourself or a loved one.

1. High-pressure tactics. If someone insists you “act now” or threatens consequences for hesitation, it’s a red flag. Legitimate financial institutions will never demand immediate decisions.
2. Requests for secrecy. Scammers often ask victims not to tell family or friends. Trusted financial advice should always withstand a second opinion.
3. Unfamiliar payment methods. Be wary if you’re asked to pay with gift cards, wire transfers, or cryptocurrency. These are difficult to trace and nearly impossible to recover.
4. Too-good-to-be-true promises. Guaranteed returns, prize winnings, or investments with “no risk” should be treated with skepticism.
5. Suspicious communication. Emails, texts, or phone calls from “official” sources that include typos, vague greetings (“Dear Customer”), or unusual links may be phishing attempts.

How to stay safe:

• Verify the source before sharing personal information.
• Involve a trusted family member or advisor in financial decisions.
• Report suspected scams to your bank or to government consumer protection agencies.

With awareness and caution, older adults can stay one step ahead of scammers and protect their financial well-being.

If you ever feel like something is questionable, or you are concerned about an elderly friend or family member, please contact us to discuss it with one of our financial professionals.