Financial Education

Understanding the basics can make everyday money decisions feel a lot less overwhelming.

 

Checking accounts are designed for everyday spending - paying bills, making purchases, and accessing your money easily. Savings accounts help you set money aside and earn interest while keeping it available when you need it.

 

Checking Accounts Savings Accounts

Interest is money earned (or paid) based on a percentage of your balance. The more you save - and the longer you leave it - the more your money can grow.

 

Saving doesn't have to be complicated. Small, consistent steps add up over time.

 

Life happens. An emergency fund can help cover unexpected expenses like car repairs or medical bills - without relying on credit (borrowed money).

 

Whether it's a home, vehicle, education, or a family milestone, having a plan makes goals feel more achievable.

 

 

Certificates of Deposits (CDs) are a great option when you want to earn a fixed rate by leaving funds untouched for a set period of time. Money Market accounts offer flexibility with competitive earning potential, and your dollars are available to you at any time. 

 

 

Certificate of Deposits Money Market Investments

 

Use one of our many financial calculators to help you understand how much you need to save to reach your goal!

 

Credit plays a big role in many financial decisions - but it doesn't have to be intimidating.

 

Your credit score reflects how you manage borrowed money. It can impact loan approvals, interest rates, and more.

 

Reviewing your reports regularly can help you:

• Understand where you stand financially 
• Catch mistakes or unauthorized activity
• Stay informed of your score before applying for a credit card or a loan

Making payments on time, keeping balances manageable, and borrowing responsibly can help strengthen your credit over time.

 

Taking time to understand these details can help you borrow confidently and choose a loan that supports your financial goals.

 

Buying or refinancing a home is a big milestone - and understanding the process can make it feel far less overwhelming. We're here to help break things down, so you know what to expect at every step. 

 

Before you start house hunting, it helps to understand your financial picture. This includes reviewing your budget, saving for upfront costs, and checking your credit. Being prepared can make the buying process smoother and help you shop with confidence.

 

Helpful things to think about:

• How much are you comfortable paying each month?
• Funds available for a down payment and closing costs
• Your credit history and score

Mortgage Basics Explained

A mortgage is a loan used to purchase a home, typically repaid over a set number of years.

Common mortgage terms you may hear include:

• Long Term: The length of time you have to repay the loan (often 15 to 30 years)
• Interest Rate: The cost of borrowing money, shown as a percentage
• Fixed-rate Mortgage: a loan with an interest rate that stays the same for the life of the loan
• Adjustable-rate mortgage (ARM): A loan with an interest rate that may change over time

Understanding these options helps you select a loan that aligns with your goals and budget.

 

Down Payments, Closing Costs, & Escrow

Buying a home involves more than just the purchase price.

• Down Payment: The portion of the home's price you pay upfront. A larger down payment can reduce your loan amount and monthly payment.
• Closing Costs: Fees associated with finalizing your loan, such as appraisals, inspections, and title services.
• Escrow Account: An account used to collect and pay property taxes and insurance as part of your monthly mortgage payment.

Refinancing: When Does It Make Sense? 

Your financial needs evolve as life changes. From your first paycheck to planning for retirement, understanding what to focus on during each stage can help you make confident decisions along the way. 

 

Opening and managing a checking or savings account

Learning how accounts work - including deposits, withdrawals, balances, and fees - helps build confidence and avoid common mistakes like overdrafts or missed transactions.

• Deposits: Money you add to your account
• Withdrawals: Money you take out of or spend from your account
• Account Balance: The amount of money available in your account
• Fees: Charges that may apply in certain situations
• Overdraft: When you spend more money than what is available in your account, this may result in a fee

Creating a simple budget and tracking spending

Understanding where money is going each month makes it easier to plan, set goals, and adjust spending when needed. Tools like Snapshot in our BFH mobile app can help track spending and build awareness. 

• Budget: A plan for how you use money each month, including what you spend, save, and set aside for future goals
• Tracking Spending: Paying attention to where your money actually goes

Using debit and credit cards and online banking responsibly

Learning how to safely use debit and credit cards, set account alerts, and regularly monitor account activity helps protect your money and personal information while banking digitally.

Understanding the difference between debit and credit cards is also important:

• Debit Card: Uses money directly from your checking account (instantly)
• Credit Card: Allows you to borrow money and repay it over time,  often with interest and possible fees

Families & Growing Households

As responsibilities grow, finances often become more complex. This stage focuses on balancing day-to-day expenses while planning ahead.

Managing household budgets

As expenses grow and change, keeping a clear picture of income and spending can help households stay organized and make informed decisions.

 

Planning ahead for education costs, family milestones, or long-term goals can help reduce stress and create more flexibility down the road.

 

Loans can help spread the cost of large expenses over time, making them more manageable within a household budget.

 

 

Retirement planning looks different for everyone. Whether retirement feels far away or just around the corner, understanding your options can help you prepare at your own pace.

 

Reviewing savings and income goals
This means taking time to understand what you’ve saved so far and how much income you may need in retirement. Regularly reviewing goals can help you adjust your plan as your career, family, and priorities change.

Understanding retirement account options
Retirement accounts are designed to help you save for the long term.

• Traditional IRA: contributions may be tax-deductible, and taxes are typically paid when funds are withdrawn

• Roth IRA: contributions are made after taxes, and qualified withdrawals may be tax-free

Knowing the difference can help you choose the option that best fits your financial situation and future plans.

Adjusting plans as life changes
Life events like career changes, growing families, downsizing, or unexpected expenses can impact retirement goals. Making adjustments along the way helps keep your plan realistic and aligned with your current needs.

Regular check-ins and thoughtful planning can help you feel more confident about the road ahead — and you don’t have to navigate it alone.

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*This content is intended for general educational purposes only and should not be considered financial advice. Bank of the Flint Hills is not a financial planner or fiduciary. We recommend consulting with a certified financial planner or qualified professional when making retirement planning decisions. 

The Schools currently supported through our EverFi sponsorship include: 

By supporting financial education initiatives like EverFi and Reality University, we’re investing in stronger communities and helping prepare the next generation for lifelong financial success.

 

If you're a teacher, school administrator, or community partner interested in financial education opportunities, we'd love to visit.