Standard Bank Blog

So what exactly is a QR Code?

A QR Code or Quick Response Code is a type of barcode. Traditionally, barcodes are seen in everyday life on consumer products and are used to scan for product prices at the checkout line. Unlike a bar code, a QR Code consists of black square dots arranged in a square pattern (usually on a white background).

The market can go on periodic roller coaster rides but it is important to not make hasty decisions.  Being strategic both financially and psychologically can help.  Here are 11 tips to keep your sanity in a crazy market:

1. Have a plan
Long-term or short-term you should have a plan to help meet your goals.  Our team at Standard Financial Services can help you make the right plan.  Click here to learn more.

• Accelerating/Braking: Accelerating too quickly or braking too hard can drastically decrease your fuel efficiency, as there is a higher gas intake during a rapid acceleration than a slowly-increasing acceleration. Also, hard braking means there was unnecessary acceleration, which causes fuel loss

Have you been to a business or social gathering in the last thirty days?  I’ll bet you dollars to donuts that some time during that activity, someone mentioned the weather.  It’s on the tip of everyone’s tongue; the heat, excessive wind & hail, the lack of rain, the condition of your yard and garden, even the crops in the fields, right?  But is anyone talking about the condition of their house?  - Probably not – but they should be.  

Unyielding heat waves and lack of rain can cause significant damage to your home.  While shingles are now designed to withstand more severe weather than just a few years ago, the average age of the roofs in the states of Illinois and Indiana is over 20 years.  Shingles that were manufactured 20 years ago even though they have a 30 year warranty are deteriorating at a much faster rate due to the excessive heat making your roof more vulnerable to damage by wind and hail.  Radiant barriers under the roofs do help in reducing this impact but are not common to older roofs.

Books, loans, food, and housing are just a few expenses that a student has to start paying for themselves. Being away at school, or even at home, the cost of our student living can start to add up, and drain our bank accounts. At Standard Bank, they understand that being a student, like myself, money can be tight at times. For this reason, Standard Bank was inspired to create a Student E-Checking account.

How familiar are you with the insurance on your deposits?  Are you aware if your deposits are fully insured at your financial institution? FDIC insured money, means you cannot lose a penny, no matter what.  However, as with any insurance, there are coverage limits and requirements that must be met.  If you have more than $250,000 on deposit in the bank, you may have more, or less, deposit insurance coverage than you think.

Homeowners often dread the first of the month as they know that large house payment is due.  There are many others that relish in the idea.  Why would they do that?  I can tell you I am one of them and that is because I pay extra to principal and that gives me the piece of mind that I will own my home sooner, saving me money.

There is a strategy to this though.  You should not just go and take every spare cent and start sending it off to your mortgage.  If you have other outstanding debt that has a higher rate you should work on paying that down first.  It would also be a good idea to have a cushion in savings.

Customer Appreciation Day at Standard Bank is right around the corner.  In honor of the occasion, I thought I’d share some great insights from my fellow colleagues about our wonderful customers.

“It is always a pleasure to meet our wonderful Standard Bank customers.  Often, they just come by my office and spend a few minutes telling me news of their family or their business – it is truly a joy to serve their banking needs.“  Karen Shabel, Bolingbrook Branch Manager

“The best part of my job is watching my customers grow.  I watch them get married, buy a home, start a family and watch their children grow.  They are as loyal to me as I am to them.”  Kathy Pyle, Shorewood Branch Manager