Short-Term Saving Tips for Summer Vacation

With summer drawing closer, your vacation may arrive before you’ve got the money to pay for it. But there are some quick changes you can make now to save or raise money for your trip. Consider these tips:

With summer drawing closer, your vacation may arrive before you’ve financially prepared. But there are some quick changes you can make now to save or raise money for your trip. Consider these tips:

Open a designated savings account

After estimating the overall cost of your vacation, set up a savings account just for the trip. This will help separate that money from your regular savings and make it easier to track progress toward your goal.

Contribute weekly

Look at last month’s account statements from your financial institution to see what you spend in a given week. Then determine how much you can contribute to your vacation fund each week and make that part of your budget. Putting the money away weekly instead of monthly will make this more of a priority in your life.

Track spending with a budgeting app

To pinpoint what’s going out of your account, let a budgeting app be your guide. Many popular apps let you categorize transactions and see overviews of your daily spending in a few taps or clicks.

Create an automatic savings plan

If you still find it difficult to save regularly, set up an automatic transfer from your checking balance to a savings account. This way you can allocate a percentage of your income and remove the temptation to spend money that should be going into vacation savings.

Reduce leisure spending

If vacation is the time to splurge, make the weeks before you go more restrained in your lifestyle. Minimize your trips to coffee shops, restaurants and movie theaters. Instead, brew your own coffee, cook more meals and watch films in your living room.

Get a side job

If you find yourself with extra time in your week, consider taking on a part-time job. See if you can watch any neighbors’ pets or homes while they’re away, or baby-sit. If you’re an avid writer or an academic, look into freelance writing or tutoring. Even a few hours of paid work a week can add up.

Sell unwanted belongings

To raise money more quickly than through a job, go through your home and collect anything you don’t need, from old books to furniture. Then sell your stuff online or in a yard sale.

Preparing for your summer vacation with these seven tactics can help ease the stress of funding all your travel expenses. This way you can stay in control of your finances and have no financial baggage when you return.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved

Ready to start saving for summer vacation?

Best Ways to Use a Tax Refund

Over the past few years, the average federal tax refund has come to about $3,000. That’s not exactly chump change. With the filing deadline approaching, it’s not too early to begin thinking about how you’ll use a refund this year. Here are five pointers to keep in mind.

Over the past few years, the average federal tax refund has come to about $3,000. That's not exactly chump change. With the filing deadline approaching, it's not too early to begin thinking about how you'll use a refund this year. Here are five pointers to keep in mind.

1. Pay down debt

It's not as much fun as booking a trip to the Caribbean, but cutting down the amount of debt you owe is one of the best money moves you can make. Outstanding loan and credit card balances can hurt your credit score, making it more difficult to get the best rates on new borrowing. If you're saddled with credit card debt, consider paying off the balance with the highest interest rate first.

2. Save for retirement

Whether it's a 401(k) plan or an individual retirement account, you'll do yourself a huge favor by starting to save for retirement or ramping up your savings rate. Although putting away 10% of your pre-tax income is a good starting point, you'll eventually want to approach 20%. Compound interest and investment returns help the money in these accounts grow, so you'll thank yourself once you retire.

3. Home improvement

If you're a homeowner, taking care of repairs around the house can be a great long-term investment. Just remember to be strategic when it comes to deciding what to fix. Replacing a garage door or installing a new steel entry door can be among the least expensive improvements, at less than $2,000 each on average. But they can provide some of the best returns on the dollar in terms of the market value they add to your home, according to Remodeling Magazine.

4. Save for emergencies

Because it's best to leave money in retirement accounts alone so it can grow over the years, it's important to build a rainy day fund. This should consist of three to six months of living expenses, and the money should be readily accessible. You might be forced to use these funds when you least expect it, to handle medical emergencies or a broken down car that needs immediate repairs. A tax refund probably won't cover half a year's living expenses, so continuing to add to your emergency fund will help you hit your savings goal.

5. Focus on needs

As tempting as it may be to splurge on a new television, you'll probably end up regretting using your refund for anything that lacks long-term value. That includes vacations, shopping sprees and decadent nights out on the town.

If you consistently receive substantial refunds but never put them to good use, consider asking your employer to adjust what's withheld from your pay. That way, you'll avoid giving the government too much money and can use it to cover more pressing needs.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved

Planning on using your tax return to save for retirement or emergencies?

F&M Bank Corp. to Present at OTCQX Virtual Investor Conference

Timberville, Va., March 10, 2017 /PRNewswire/ — F&M Bank Corp. (OTCQX:FMBM), the only publicly traded institution based in Harrisonburg/Rockingham County MSA, VA, and the holding company for Farmers & Merchants Bank, today announced that Neil Hayslett, EVP, will present live at on March 15, 2017.

DATE: Wednesday, March 15, 2017

TIME: 11:30 AM


This will be a live, interactive online event where investors are invited to ask the company questions in real-time – both in the presentation hall as well as the association’s “virtual trade booth.” If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.

It is recommended that investors pre-register and run the online system check to save time and receive event updates.

Learn more about the event at


Recent Company Highlights for the Fourth Quarter and Full-Year 2016:

• Net income of $2.5 million and $9.6 million, respectively;

• Net income per common share increased 15.42% YTD;

• Net interest margin of 4.34%;

• Non-performing assets declined $1.9 million or 21.5% compared to a year earlier;

• Loans held for investment increased $47.6 million YTD;

• Return on Average Assets of 1.34% YTD.


About  F&M Bank Corp.

The primary mission of Farmers & Merchants Bank is to be a strong, independent community banking organization that provides a reasonable return to our shareholders, quality service to our customers and communities, and a rewarding and challenging workplace for our employees. F & M Bank Corp., incorporated in Virginia in 1983 is a financial holding company, owns 100% of the outstanding stock of Farmers & Merchants Bank, which incorporated in 1908 (F&M Bank), and a majority interest in VSTitle. F&M Bank owns 100% of TEB Life Insurance Company (a captive life insurance company), Farmers & Merchants Financial Services, Inc. (our investment division) and a majority interest in VBS Mortgage (our residential mortgage division).

Since 2010,, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform. Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire's leading-edge online conferencing and investor communications capabilities with BetterInvesting's extensive retail investor audience network.



F&M Bank Corp.

Name: Neil Hayslett

Title: EVP/Chief Administrative Officer

Phone: 540-896-8941


Bradley H. Smith

Title: Director of Marketing, IR and Compliance Services, PR Newswire

Phone: 1-201-947-7157