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Families on the Go

Managing the financial responsibilities of family life

By the time you have a family of your own, there will be accompanying expenses such as fees for various activities and lessons for your children, family vacations, saving for college educations or buying a new home.  Throughout this time, you should regularly evaluate your progress towards achieving the financial goals you set earlier in your life and adjust your spending, budgeting and saving to make sure you stay on track.  With all the demands a family places on your income, it is still important to build your long-term investments. 

Planning and discipline that determines what and how you spend contributes to your future financial success.  Here are some tips First National Bank at Paris recommends for sound financial management during this demanding time of your life.


Shop for the best mortgage and consumer loans  –  Seeking the best mortgage or consumer loan by  shopping, comparing and negotiating may save you thousands of dollars. A mortgage—whether for a home purchase, refinancing or a home equity loan—is a product, just like a car, so terms may be negotiable.  You’ll want to compare all the costs involved in obtaining a mortgage including interest rates, points, fees and down payment and private mortgage insurance requirements.   Home equity loans and lines of credit can be helpful when extra cash is needed to reduce significant credit card debt—but be cautious about re-building credit card debt once it is paid.

With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at First National Bank at Paris that meets your needs.  To apply for a mortgage or consumer loan now, click on the links below, or stop by and talk with one of our lending officers. 

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages
  • Construction Loans
  • Installment Loans
  • Home Improvement Loans
  • Second Mortgage Loans
  • Home Equity Loans
  • Home Equity Line of Credit 

Understand your credit report - Your financial behavior over the past seven years, including how much credit you have, how long you've had it and whether you pay your bills on time is information included in your credit report.  Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and  lenders buy them to help them decide whether to offer you a prequalification.  Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will repay a loan.  Your credit score can also influence the interest rate you pay.  In many cases the higher your score, the lower your interest rate. Your credit score is available from the three credit reporting agencies: 


Start Saving for College — By starting early, when your child is in preschool or before, you can build a realistic fund through the power of compounding over many years.  The earlier you start, the less you’ll have to save per month.

Through First National Bank at Paris, you can access products designed to help you fund your child’s higher education. To learn more, or set up an educational account, click on the links below. 

  • Bank CD product

                   -Minimum opening balance of as little as $500 and no more than $1,000 depending on term

                   -Terms as short as 91 days and as long as 5 years

                   -Competitive rates of interest

  • US Government EE Savings Bonds

Conserve time, money and paper with First National Bank at Paris’s convenient checking accounts with online banking and bill pay and no-charge ATM services – You’ll reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment as well.

E-Bank Checking  

  • Minimum opening deposit of $50
  • No service charge
  • No minimum balance requirement after opening
  • Unlimited check writing
  • Free online bill pay
  • Free debit card
  • And MORE

Platinum Rewards Checking

  • Minimum opening deposit of $50
  • Service charge of $7 to $8 a month
  • $10,000 accidental death & dismemberment insurance
  • ID Theft service
  • Free debit card
  • E-statements or paper statements
  • Entertaining, Shopping and loan discounts
  • And MORE

Save for Retirement  — Many people underestimate the amount of money they’ll need in retirement. Be realistic about major expenditures, e.g., will your mortgage be paid off by retirement?  If so, you may need less income than you do now.  Do you plan to buy a vacation home or travel extensively?  Will you have to pay for your own health insurance?  These and other financial considerations all come into play.  

Now is a good time to up your contributions to your retirement savings accounts.  Talk with First National Bank at Paris’s financial consultants to learn about the products we offer that can help you meet your retirement goals. 


  • Minimum opening deposit of $250
  • Terms of 1 to 3 years
  • Competitive rates of interest
  • Interest compounded quarterly

Partnership with Ameriprise Financial Services, Inc.

For help determining the best accounts and products for sound and productive money management during your Active Families Lifestage, please contact us.

Tips for Effective Financial Management

  • Your mortgage payment, including taxes and insurance, should be no more than a certain percentage of your gross monthly income so let us calculate that for you if you are shopping for a new home or a new mortgage.
  • Review the cost of your health care insurance and make sure you are getting adequate coverage at the best price. 
  • Make wise purchasing decisions by determining  what you “need” compared to what you “want.”  This will help you make ongoing  decisions to keep your finances in check.   
  • Guard against impulse shopping, especially for costly purchases such as vehicles, major appliances, furniture, jewelry and the like.