Invest in Your Future With Bank of Luxemburg

Planning for your financial future is important at any stage of life, and Bank of Luxemburg is committed to your success. 

If you’re graduating college, a banker can help you set up a budget for things like rent, car payments or college loans.

When you’re buying your first home, meet with a mortgage originator to find out what kind of house you can afford and to set up a spending plan.

Thinking about retirement? Meet with an advisor in investment services to set up initial goals and spending habits for the future.

Bank of Luxemburg’s Chief Operating Officer, Rebecca Edler, explains how we can help you invest in your future in this video: 

Luxemburg Bancshares, Inc. Declares Dividend

Luxemburg Bancshares, Inc., parent company of Bank of Luxemburg, announced the approval of a semi-annual dividend of $.51 per share, payable on June 24, 2011, to shareholders of record as of June 13, 2011.  The dividend was increased from the dividend of $0.50 per share paid on June 18, 2010.

President John Slatky noted, “The dividend reflects an improvement in earnings in 2011 and is an example of the solid financial position of Luxemburg Bancshares, Inc. and Bank of Luxemburg.  While the Bank continues to contend with the challenging economy and the current real estate market, the Bank is profitable and expects to remain profitable.”

Learning the Basics of Budgeting

It’s graduation season! Students have completed their classes in subjects like English, history and science and are proudly displaying their diplomas. But many graduates have one more course to pass:

Budgeting 101.

Managing money may be one of the biggest challenges for young adults living on their own for the first time. But learning the basics – such as how to create a budget – can help you find the right path.

According to the American Bankers Association, knowing how much you have to spend and where your money goes is essential for financial success.  That means it’s time to create a budget.

1. Income: It’s important to learn what you’re working with. Using a notebook, spreadsheet or worksheet, list your monthly income sources – take home pay, overtime, tips, etc. Include as much information as possible.
2. Expenses: List your current expenses – and don’t leave anything out, no matter how small the amount! This will cover expenses related to housing, food, education, health, transportation, entertainment, credit cards, saving/investing and other miscellaneous sources. 
3. Monthly Net Income: Then take your total monthly income, subtract your total monthly expenses, and write down your monthly net. When you know what you have, you can make informed decisions on your budget and spending habits. 

Expenses and income equal? You could be getting by, but are you prepared for unexpected expenses? Look into a regular savings plan.

Expenses less than your income? This is good news, and you should be able to set reasonable financial goals to make your dollars go further.

Expenses more than your income? This is a problem that needs immediate attention. Visit Bank of Luxemburg to help you before you fall deeply into debt.

Determining your monthly net income may bring up more questions about how you use credit, whether you have enough money to pay monthly expenses, or about developing savings goals. 

Keep checking the Bank of Luxemburg blog for advice on sticking to a budget and cutting expenses, and you’ll be sure to get an A+ in Budgeting 101! 

Saving Time With Bank of Luxemburg

Bank of Luxemburg's Chief Operating Officer, Rebecca Edler, recently appeared on FOX 11's Living With Amy to explain some ways the bank can help you save time.

Here are a few of the tips Rebecca outlined in her interview with Amy:

• Auto Bill Pay: This is a safe and secure way to pay your bills without taking the time to write and mail paper checks.
• Auto Savings Transfers: You can have a certain amount of money taken out of your checking account every pay period and transferred directly to your savings account, instead of visiting the bank in person.
• eStatements: Reading your account statements is as easy as checking your email.
• Remote Deposit Capture: This service allows business owners to save time and reduce expenses by scanning checks and transmitting the images to the bank for posting or clearing.

What are some other ways you save time with your banking?

April is Community Banking Month

Bank of Luxemburg is one of nearly 7,000 community banks across the United States.  Community banks work to enhance the quality of life in their local marketplaces.  And the Independent Community Bankers of America wants to celebrate the positive characteristics of community banks this April.

Here are some of the benefits of using a community bank like Bank of Luxemburg:

• Community banks focus on families, not large corporations.
• We support local communities by channeling your deposits into loans for your neighbors and area businesses.
• Community bank officers are on-site (not in a far-away city) and active in the local community.
• Business loan decisions are made locally, so you don’t have to wait for committee choices in other states. 
• Community banks are small businesses themselves and understand the needs of other small businesses.

Our eight Bank of Luxemburg branch locations will be celebrating all this month!

• Children can enter a coloring contest at each branch.
• Customers can enter a drawing for a coffee basket.
• Watch our Facebook and Twitter pages for facts about community banks.
• If we reach 300 fans on our Facebook page, we’ll randomly draw one fan’s name to win a Flip camera.

Watch this video to find out more benefits of banking locally with Bank of Luxemburg!

Teach Children to Save Day

April 12, 2011 is officially Teach Children to Save Day.  It was declared by Wisconsin Governor Scott Walker this month.  Teaching children to save money may not be easy at first, but the lessons they learn now should stay with them for the rest of their lives.

Here are a few ideas to encourage children to save money:

• Open a savings account and track the interest as it grows.  You can do this at any Bank of Luxemburg branch location.

• Help children set goals for their savings -- whether it’s a buying a new toy or even paying for college.  You could also give them non-money rewards for reaching certain milestones. 

• Provide an allowance or let children earn money for household or neighborhood tasks.  A small income will encourage kids to budget and manage money.

• Encourage giving to charities, churches or other organizations your child has an interest in.  This will help them get in the habit of helping their communities.

• Lead by example and explain your own savings and spending plans to your children.  You can tell them what you’re doing when you visit an ATM, pay for groceries and pay bills.

Bank of Luxemburg has a number of tools and ideas to encourage children to get in the habit of managing money.  Visit our Money Talks page for more tips and ideas.

School of Super Saving Contest

Paying for higher education is a challenge, but the most inventive students usually find a way to pay!  Bank of Luxemburg wants to know how you're funding your college education.  Giving plasma?  Drawing caricatures?  Playing your musical instrument on the street corner?

We're awarding one person $750 for sharing his or her creative plan with us through a short essay or video.

Check out the details at 959KissFM.com and watch this video to learn more!