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Managing the financial responsibilities of family life

1. Shop for the best rates.

Seeking the best loan by shopping, comparing and negotiating may save you thousands of dollars. 

With competitive rates, experienced lending professionals and local decision-making, you’ll be sure to find a loan at Texas Star Bank that meets your needs.  Stop by and talk with one of our lending officers. 

Here are some helpful Financial Calculators to give you the tools to help with the finances of your household not all the products are offered by Texas Star Bank but are given as a useful tool.



2. 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 360 and 840 that many lenders use to decide whether you are creditworthy and will you'll 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: 

Equifax –  www.equifax.com
TransUnion –  www.transunion.com
Experian – www.experian.com

3. 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.
Many helpful government agencies or your local financial aids office at your enrolled College or University can access products designed to help you fund your child’s higher education.

4. Conserve time, money and paper with Texas Star Bank convenient checking accounts with online banking and bill pay, e-statements and 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.

  • Free Checking - A great no frills account that has no maintenance charge, offering check writing privileges plus the added convenience of a VISA Check Card to qualified customers. Add online banking, Bill Pay and access to statements online to create a convenient account for your fast paced life
  • Basic checking - offers just that with a minimal fee of $2.50 per month regardless of your balance and offers check writing or debit card transaction of 10 per month but comes with printed statements with check images and a notebook to keep you organized.
  • Regular Checking - Enjoy the convenience of unlimited check writing plus anytime access to your funds via a Visa check card to qualified customers, or ATM card. This account will have printed 3 hole punched statements, including copies of each check, mailed monthly and a notebook to keep your records organized.

For details see Personal Checking

5. Improve Funds Availability and Save Time and Money sign up for Direct Deposit

Direct Deposit Service – Make arrangements with your employer or ask a personal banker to help you set up your social security, government retirement, SSI, and VA benefits. Save time and expense and gain peace of mind that your deposit is secure.

6. 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 a personal banker to learn about the products we offer that can help you meet your retirement goals. 

  • Bank IRA  –  Whether or not you are covered by pension plan at work; an Individual Retirement Account is a smart way to invest in your future. Compliment your checking and savings with an IRA account today. Contributions to most of our IRAs are tax-deferred. See your tax planner for your specific  benefits.
  • Money Market  – Earn a higher yield of interest with this investment account. This account offers a higher rate than our regular savings account with quick access to your funds when you need it. To avoid a service charge maintain a minimum of $1500. Allowed 6 withdrawals per month and mailed monthly statement or request e-statements.
  • Savings -Our regular savings account offers competitive quarterly interest and access to your funds with the Texas Star Bank ATM Card. You can get started on the savings road with as little as $100 as your initial deposit, but to avoid a service fee maintain $250 minimum daily balance. You will receive a statement, or you can request e-statements, every quarter to keep up with your saving progress.


  • Make sure your mortgage payment, including taxes and insurance, represents no more than 30 percent of your gross monthly income or a more conservative view would be 25 percent.
  • 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.

For help determining the best accounts and products for sound and productive money management during your Active Families Lifestage, please contact a friendly banker 903-482-5234.