Blog

As we welcome a new year, many of us are eager to get back in shape, literally and figuratively. Gym memberships are flying off the shelves, and we're all determined to stick to our resolutions... at least for a few weeks. But while we're focused on toning our bodies, let's not forget about the importance of getting our wallets in shape too! The Unhealthy Truth About Subscriptions We've all been there—signing up for a gym membership with the best of intentions, only to...
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The holiday season is upon us, and Ohio is buzzing with festive cheer! From twinkling light displays to festive markets, and from snow-filled wonderlands to merry performances, there's something for everyone to enjoy. As your trusted banking partner, Middlefield Bank is excited to share our top picks for holiday events and activities throughout Ohio this December. Cleveland/Akron and Northeast Ohio Wild Winter Nights Stroll through an illuminated winter wonderland with thousands of twinkling...
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When you’re thinking about buying a home, one of the key factors lenders consider is your debt-to-income (DTI) ratio. But what exactly is this ratio, and why does it matter? In this post, we’ll break down everything you need to know about DTI, including how to calculate it, why it’s important, and how it impacts your mortgage or home loan application. What Is Debt-to-Income Ratio? Your debt-to-income ratio is the percentage of your monthly gross income that goes towards paying...
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The holiday season is upon us once again, and for many businesses, it can be a double-edged sword. It's a time of amazing sales and increased revenue, but it can also be a challenging time for cash flow management. Seasonal fluctuations in sales, inventory, and accounts receivable can put a strain on a company's finances, making it difficult to meet financial obligations. So, let’s take a look at common cash flow issues businesses face during the holiday season and some tips on how...
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October is Cybersecurity Awareness Month, a perfect time to focus on protecting your small business from cyber threats. Small businesses are often targeted by cybercriminals because they typically have fewer resources dedicated to cybersecurity. To help you safeguard your business, Middlefield Bank has compiled 10 essential tips to enhance your cybersecurity posture. 1. Educate Your Employees Your employees are your first line of defense. Conduct regular training sessions to help them...
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Planning for retirement is one of the most important financial decisions you’ll make. With so many investment options available, it can be challenging to determine which ones are best suited for your needs. Two popular choices are Individual Retirement Accounts (IRAs) and Certificates of Deposit (CDs). Let’s explore the differences between IRAs and CDs, so we can help you decide which option is right for your retirement planning. Understanding IRAs What is an IRA? An Individual...
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The journey to owning your dream home is an exciting one, but it comes with an important decision: should you build a new home from the ground up or buy an existing one? Both options have their advantages and challenges, and the right choice depends on your personal preferences, timeline, and budget.  The Case for Building Your Dream Home Building a home from scratch is a thrilling prospect, allowing you to create a space that’s truly your own. Here are some reasons why building...
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As the fall season ushers in cooler temperatures and colorful foliage, it’s also the perfect time to think about how you can harvest the value of your home. If you’ve built up equity in your property, you have a valuable financial resource at your disposal. But how can you make the most of it? Let’s take a look! Understanding Home Equity Home equity is the difference between your home’s current market value and the remaining balance on your mortgage. Over time, as you...
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As technology evolves, so do the tactics of scammers. In 2024, it’s more important than ever to stay vigilant and protect yourself from financial fraud. Here are 7 scams to watch out for in 2024, along with tips on how to identify and avoid them. 1. AI-Powered Scams Scammers are increasingly using artificial intelligence (AI) to create convincing phishing emails, deepfake videos, and voice messages. These AI-generated scams can impersonate friends, family, or even employers to trick...
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Many students and their families are starting to navigate the complex world of student loans. Whether you’re just starting your college journey or looking to refinance existing loans, understanding the ins and outs of student loans is crucial. This comprehensive guide will walk you through the entire process, from applying to refinancing. Let’s dive in! Applying for Student Loans The first step in securing student loans is to complete the Free Application for Federal Student Aid...
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