News for YOU! is a free, monthly newsletter provided by KS StateBank that offers tips and other information to help you make wise financial choices. Please feel free to sign up now to receive new editions of our newsletters each month, as well as other updates. You can also subscribe to our business newsletter, News for YOU! Business Edition.
January 2026
It’s a fresh new year and a new opportunity to take charge of your life, including your financial life. From paying bills and managing everyday expenses to saving for emergencies and the things that matter to you, January is the perfect time to focus on your finances and put yourself in a position to succeed.
Here are some steps to help you get started.
Review your budget. Having a budget is essential to covering your monthly bills, building savings, and planning for your short- and long-term goals. If you don’t have a budget, here’s how to create one:
- Start by reviewing your monthly expenses, such as your housing payment, utility bills, car payments, groceries, gas, and other recurring costs.
- Don’t forget to review discretionary spending, like dining out, entertainment, streaming services, and gym memberships.
- Review your monthly income.
- Determine how much you can save for emergencies and planned goals.
- Subtract your expenses and savings from your income to see where you stand.
- If your expenses exceed your income, look for ways to reduce spending or increase income (e.g., a part-time job or side hustle).
- Review your budget every month and adjust as needed.
Tackle debt. Carrying extra credit card debt from the holidays or from overspending throughout the year? With today’s high interest rates, that debt can be costly and hold you back from reaching other financial goals.
- Review all your debt, including balances and interest rates.
- Focus on paying off high-interest debt first.
- Build debt payments into your budget.
- Put credit cards on ice while you work on paying them down.
- Consider transferring high-interest balances to a lower-interest credit card if it makes sense for you.
Build your savings. Savings equals security. It helps you handle unexpected expenses like car repairs, home maintenance, or medical bills and makes it easier to reach your goals, like buying a home or paying for college.
- Set up automatic transfers from checking to savings
- Increase your savings when you get a raise or bonus.
- Save tax refunds or other windfalls instead of spending them.
- As balances grow, consider a high-yield savings account or a certificate of deposit (CD).
- Check your credit score to know where you stand.
- Keep balances low.
- Pay every bill on time, every time.
- Avoid closing older credit accounts, since the length of your credit history matters.
- Be selective about applying for new credit.
You’ve got this!
There’s no time like the present to build the financial life you deserve. Follow these steps, and you’ll be well on your way.
The search is over! After scouring multiple online listings and spending countless Sunday afternoons at open houses, you've found the perfect home. There's one important step you need to take before you can make it yours – negotiating the winning offer.
Yes, that.
Negotiating can be a stressful and nerve-wracking process, especially when there may be multiple buyers looking to make your dream home theirs. But, there are some steps you can take to make your offer stand out:
Yes, that.
Negotiating can be a stressful and nerve-wracking process, especially when there may be multiple buyers looking to make your dream home theirs. But, there are some steps you can take to make your offer stand out:
- Learn about the seller. Your agent may be able to learn more about the seller’s motivations and timeline. Having this information could help both you and the seller by allowing you to tailor your offer to meet their needs and help you gain advantage in negotiations.
- Get pre-qualified. Sellers want to know a lot about you, too, most notably that you can afford their home. Having a pre-qualification from a reputable lender will show them that you are a serious buyer in a good financial position. Before you submit your offer, get pre-qualified with a reputable lender and include the pre-qualification with your offer.
- Be flexible. There are other areas of negotiation that go beyond price, including timing. A seller may, for example, need to close earlier in order to get the funds they need to buy another home. In that case, moving up the closing date could get you a negotiating edge.
- Use an experienced real estate professional. A good real estate agent can help you determine what the home is worth and write the best offer to help you beat out the competition.
- Put your best offer first. Before you make an offer, determine the maximum amount you are willing to spend. If you believe the house is worth it or if there will be multiple offers, make that your best offer. One thing you never want to do is exceed your budget to win the home. A mortgage that's too high will make you fall out of love with the home quickly.
- Avoid contingencies. Simple offers are often winning offers. One way to simplify yours is to avoid contingencies, such as making the purchase of the home contingent upon the sale of a property you own. Also, buyers will sometimes waive standard contingencies, such as the appraisal or the inspection. If you do waive an inspection, understand the risks involved. You could also waive the financing contingency. If you decide to go that route, be certain that you will qualify for the loan, since failure to get financing could result in losing your deposit.
- Raise your down payment. Another way to gain an advantage is to put more money down on the home. This will reduce the amount of the mortgage you will need, which can help you if the appraisal comes in lower than expected.
- Write a personal note. Though finances are usually the deciding factor in home negotiations, it never hurts to make a personal appeal, particularly if all offers are equal. Include a personal note with your offer that tells the sellers about you and what their home means to you. Again, knowing about the seller can give you an advantage.
Contact Penny Alonso or visit our Personal Lending Solutions page to learn more and apply for a home loan.
Penny Alonso
Martin Luther King, Jr. Day
Our offices will be closed on Monday, January 19 in honor of Martin Luther King, Jr. Day. We will reopen during regular hours on Tuesday, January 20.
High-Balance Deposits