Improving Quality of Life������������������������������������ 8

your needs to be met�

Deciding you wish to age in place means you are choosing: • how you want to spend your retirement years • how you want your home to be set up • what your health care choices will be • which types of assistance are right for you • what your wishes are for major life events (sickness, housing transitions, financial decisions)

Making these choices gives you control over your independence, quality of life and dignity� Most importantly to note, aging in place does not mean you have to do everything yourself; that’s where the plan comes in� It means you get to plan how your needs are met, who meets them and when�

HOW TO BE A SMART CREDIT CONSUMER

Financial planning encompasses a host of strategies designed to help people enjoy the fruits of their labors� Financial planning is often associated with saving for retirement� However, smart credit management is an integral component of financial planning that can begin paying dividends long before adults are ready to retire�

Capital One notes that the benefits of a good credit score include lower credit card and mortgage interest rates, which can save individuals tens of thousands of dollars over the life of their home loans� In addition, the Federal Trade Commission reports that the better an individual’s credit history, the easier it is for that person to establish utility services, including electricity and internet service�

With so much to gain, individuals should do everything they can to be smart credit consumers� These strategies can help consumers use credit to their advantage as they look to gain from this vital component of financial planning� • Recognize the factors that affect your score�

A credit score is generated using a formula that takes various factors into consideration�

These factors include payment history, credit utilization rate, length of credit history, and credit inquiries, among others� Each variable is important, but paying balances in full and on time each month is a great way to build a strong financial reputation in the eyes of creditors� In addition, avoid overutilization of credit, especially if you can’t pay balances in full each month� • Check credit before looking for a job� One easily overlooked benefit of being a smart credit consumer is its impact on individuals’ ability to find a good job� The Consumer

Financial Protection Bureau urges individuals to check their credit reports before they begin looking for a job so they can correct any mistakes that may be on their reports�

That’s because some employers look at applicants’ credit reports as part of their background checks� Smart credit consumers rec-

Act Now

OPEN A NEW PERSONAL ACCOUNT AND GET A $10 GIFT CARD TO

112 on Broadway, Whimzy Toy Store, or Homestead Boutique. PLUS: We will also donate $10 towards the All Together Albert Lea Inclusive Playground & Miracle Field!

Stop in and open a new personal checking or savings account, or open your account online!

• Instant Issue Debit Cards • Mobile App • Free Bill Pay • Mobile Deposit • E-statements • Alerts • Budgeting Tools and more!

COMMUNITY OWNED. COMMUNITY FOCUSED.

Hartland (507) 845-2233 Albert Lea (507) 373-1945 Freeborn (507) 863-2371 www.arcadian.bank

Member FDIC. Offer valid through December 30th 2022. One donation and gift card per tax ID number.