Personal Finance

Each year, the IRS receives over 100 million individual income tax returns. As the year winds down, it’s time to get ready for tax season and the April 15 filing deadline. No one looks forward to filing their tax return unless you’re expecting a good refund, but it’s always better to be on time than to risk penalties. As the saying goes, the only certainties in life are death and taxes. Luckily, tax filing doesn’t have to be painful. Here are our best tips for an easy tax season. Get Organized The first step is to gather the necessary forms, [ read more ]

Are your kids ready to control their own financial destinies? With total student loan debt reaching 1.5 trillion last year, it’s more important than ever to teach teens and young adults the basics of personal finance. From the importance of saving to build a credit history, understanding debt, paying for college, budgeting, and setting long-term financial goals, this article provides concrete tips for teaching financial literacy to the young adult(s) in your life. Here in Bucks County, PA, The First has been helping generations of local families achieve their financial goals. We’re here to help young adults and their parents [ read more ]

The summer vacation is a classic American pastime. From a road trip out west to a week at the beach, everyone likes to get away during the warmer months. However, paying for a vacation can be challenging, especially for families. And some people switch jobs over the summer, limiting their available time off. If you’re trying to plan a summer vacation on a budget here in Bucks County, there are plenty of attractive, local options. So, step away from social media, where it can seem like everyone but you is off on an exotic trip. The First is here to [ read more ]

In Pricing the Priceless Child: The Changing Social Value of Children, Princeton University Sociologist Viviana A. Zelizer characterizes modern children as “economically worthless but emotionally priceless.” In other words, kids are no longer expected to help run the family farm or go to work in a factory to contribute to the family’s bottom line. Instead, parenting is an emotionally rewarding but expensive activity. Parents pour their financial and emotional resources into their children, hoping to raise happy and healthy adults who will maintain close relationships with the family. Whether you are already expecting your first child, or simply getting ready [ read more ]

Before the introduction of credit cards in the mid-20th century, saving wasn’t just a good habit; it was a necessity. If you didn’t save for a rainy day, you would have nothing to fall back on when hard times hit. Today, credit can be a double-edged sword. It grows our economy and improves standards of living. However, in the wake of the Great Recession, many Americans suffered the consequences of an overreliance on credit. As Bucks County’s oldest community bank, The First has helped generations of local Bucks families and individuals navigate a changing economy. In financial boom times as [ read more ]

If an unexpected expense of $400 or more came your way tomorrow, would you be able to cover it? Four in 10 American adults could not, according to The Federal Reserve’s most recent Report on the Economic Well-Being of U.S. Households. That statistic became national news in January, as furloughed government employees visited food pantries, signed up to become rideshare drivers, and relied on credit cards to survive the long shutdown. Here in Bucks County, local businesses such as Jules Thin Crust, The Pineville Tavern, and Bucks Co. Children’s Museum offered free food and admission to unpaid federal workers and their [ read more ]

Today’s workers face an entirely different retirement outlook than their predecessors. Gone are the days of employer-sponsored pensions for most jobs. Instead, Americans must take an active role in planning for their own retirement. In this environment, the role of the Financial Planner has become even more important. Contrary to what you may think, financial advisors aren’t just for people who already have a lot of wealth. Here in Bucks County, The First has been helping local individuals and families meet their financial goals for generations. Our professional team can help you accumulate assets for retirement and meet other objectives. [ read more ]

Everyone knows that divorce brings change. From your social circle to your living arrangements, you’ll spend the next year or more adjusting to this new stage of your life. Your everyday responsibilities may multiply as you suddenly become accountable for running a single household. After you switch names on your utility bills and divide financial accounts, you may find yourself unsure of the next steps. If your previous partner managed the household finances, it’s time to shake the dust off of life skills such as creating a budget, choosing financial accounts, and planning for taxes. Whether you’re navigating this process [ read more ]