LANB Launches Weekly Financial Column: Money IQ

What’s your Money IQ?
By Steve Wells

Welcome to Money IQ. Over the last 49 years in working with many customers, Los Alamos National Bank has run across just about every financial situation or decision you can imagine and some you can’t.

We were very excited when the Los Alamos Daily Post asked if we could add to their financial channel, a weekly column on financial matters that would be useful to their readers, we jumped at the chance.

How smart are you when it comes to money? We often know what’s best for us financially; to pass on that impulse purchase, save more, or pay more than that minimum payment on your credit card, but we don’t always do what’s best, we’re human.

What can be even more perplexing is when you have no idea of what to do, what your options are, or much less what is the right solution.

Each week we’ll examine some of the financial challenges and questions that present themselves in the real world every day, bounce some solutions around and stimulate your thinking and ability to raise your Money IQ.

Whether it’s establishing credit for your teen or positioning yourself for retirement, we’ll provide insight and answers to the financial challenges we all face.

There are no sure fire answers or solutions that work every time. We wish there was a magic wand that you could waive and your financial world would fall in place, but it’s not like that is it.

There are as many questions as there are answers and often personal situations predicate an entirely different solution. Our aim is to make you think and see the other alternatives.

A simple Internet search can get a ton of financial advice but most will be written by a financial industry retiree or a consultant, interested in selling your something.

Money IQ on the other hand, will be written by our employees, bankers who roll up their sleeves every day and enjoy the opportunity to find answers to the financial puzzles our lives seem to generate.

Editor’s note: Steve Wells has served as President and Chief Administrative Officer of Los Alamos National Bank since 1994. He has served on the Boards of Directors of Los Alamos National Bank and Trinity Capital Corporation since 1986, as Trinity’s Secretary since 1986.

  • Look for Money IQ every Wednesday in the Los Alamos Daily Post, and build a brighter financial future.
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