Things to Do on a Budget in Monmouth & Ocean Counties this July 2026

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July kicked off with countless events to celebrate the 250th anniversary of America – but the month still has plenty in store! Check out our guide to even more family and budget-friendly events happening in Monmouth and Ocean Counties the rest of the month.

July 9

Colts Neck | Sounds of Summer Concert Series | 7pm-8:30pm

Enjoy a free concert at Town Hall – pondside, every Thursday through August 27th from 7pm-8:30pm. The lineup includes a variety of local talent playing tunes from countless decades and genres all summer long. There is no entry fee to attend – all you’ll need to enjoy the concert is a lawn chair. This week’s performance is by The Last Whippoorwills, a bluegrass band. View the summer lineup.

July 10

Downtown Freehold | Funky Friday | 7pm-9pm

Fridays are getting Funky in Freehold – try saying that ten times fast! Enjoy the sounds of different performances at the Gazebo (10 East Main Street in Downtown Freehold) every Friday through September 25th from 7-9pm. There is no entry fee to attend. Limited seating is provided, and reservations can be made at one of the sidewalk cafes or restaurants along East Main Street. View the summer schedule.

July 11

Wall | The Historic Village at Allaire Flea Market | 8am-2pm

Whether it’s time to clean out your basement, or hunt for your next bargain – head over to the Allaire Flea Market. You can register in advance to become a vendor or shop for treasures! General admission is $5 + fees for those ages 4 and up. A general admission ticket also grants access to the historic grounds, trades, and pop-up demonstrations across the village. Purchase tickets in advance.

Jackson | Fireworks and Food Trucks | 4pm-9pm

Head over to Johnson Park if you’re in search of one last Independence Day celebration. There will be live music and DJ performances, food truck vendors, a cornhole tournament, and fireworks to end the night. There is no entry fee to attend, but there will be food available for purchase.

Freehold | Freehold Township Day | 4pm-11pm

Head over to Michael J. Tighe Park for a celebration of our community, our nation, and 250 years of American history. Enjoy a night of live entertainment, merchandise and food vendors, free kids rides and teen center, beer garden (for those 21+) and more – ending with a fireworks show at 9pm. Car enthusiasts won’t want to miss the 27th Annual Don’t Forget the Vets Car Show from 2pm-6pm. Admission is free.

Downtown Freehold | Saturday Serenade | 7pm-9pm

If a Saturday Serenade is more your style, the Gazebo (10 East Main Street in Downtown Freehold) is also hosting serenade performances every Saturday through September 26th from 7-9pm. There is no entry fee to attend. Find the list of performers playing each week.

July 12

Seaside Heights | Movies on the Beach | 9pm

The Seaside Heights Beach will become a movie theater every Sunday through August 23rd at dusk. This week’s showing is Zootopia 2. Grab some snacks from the boardwalk, settle into the sand, and enjoy a movie night like no other. There is no entry fee to attend. See the schedule of featured films each week.

July 15

Berkeley Township | Ocean County Fair | Begins at 5pm

A tradition since 1947, the Ocean County Fair is back at the Robert J. Miller Airpark from July 15th-July 19th. The five-day, action-packed celebration features 4-H showcases, live music, thrilling rides, food vendors, livestock displays, and hands on activities for all ages. Admission is $10 per person, and 4-hour ride wristbands are available on site for $45.

July 16

Howell | Movies Under the Stars | 6:30pm 

Head over to the Howell Library Hill for showings of family-friendly movies on select Thursdays this summer. Activities will begin at 6:30pm and the movies will begin at dusk. There’s no entry fee to attend – just bring your lawn chairs, blankets, and favorite movie theater snacks. The first showing will be The Goonies. See the other movie showings of the summer.

July 22

Freehold | Monmouth County Fair | Begins at 4pm

This annual favorite is returning to the East Freehold Showgrounds (Kozloski Road) through Sunday, July 26th. The fair is kicking off with a “Monmouth NJ 250 Celebration” – featuring costumed, historic interpreters and fireworks. It will feature live music and entertainment, rides, games, hands on experiences, and exhibits. Admission is $10 per person, and children 12 and under get in free. Ride wristbands, food, and beverages will be available for purchase.

July 25

Oceanport | Italian Festival & Wine Tasting | 11am-5pm

Embark on a tour of Italy without leaving the Jersey Shore at Monmouth Park Racetrack on July 25th and July 26th. Pair your favorite Italian dish from one of the dozen local favorites with a sampling of great wines (for those 21+) – all while listening to live music from 12pm-4pm. Live racing begins at 12:50pm. General admission is $6, with children 12 and under free to attend. Wine sampling tickets are $20 for 5-two ounce samples in advance.

July 31

Lacey | Sunflower Festival | 3pm-8pm

Come for the sunflowers and stay for the live music, tasty treats, and more at Argos Farm – every Friday to Sunday through August 23rd. Take a stroll through the sunflower fields during a picture perfect time of day, gather flowers for your next centerpiece, enjoy live music from 4pm-7pm, try fun farm attractions, and more. Pricing will become available on July 20th.

Highlands | Clamfest | Begins at 6pm

This beloved Jersey Shore tradition is back from July 31st through August 2nd at Huddy Park. From a mouthwatering array of food trucks and festival favorites (if you’re thinking funnel cake, you’d be right), to live performances and a lively Beer, Wine, and Sangria garden (for those 21+) – there’s something for everyone. There will be a fireworks display on Saturday, August 1st at 10pm. There is no entry fee to attend, but there will be food and beverages available for purchase.

Trump Accounts Go Live Tomorrow: What to Know

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A new federally created savings account for American children will launch on July 4, 2026, when Trump Accounts will begin accepting contributions. These accounts were formally established under Section 530A of the Internal Revenue Code as part of the One Big Beautiful Bill Act.

Whether you have a newborn, a teenager, or grandchildren across multiple ages – we thought it might be helpful to give you an overview of what the accounts actually do, what they do not do, and how to think about them alongside what you may already have in place for the children in your life. This new account type has certain limitations and decisions that will depend on your family’s situation and goals.

What Are Trump Accounts, Exactly?

Trump Accounts were created for any child under 18 who has a valid Social Security Number and U.S. citizenship. The account is held in the child’s name, with a parent or guardian serving as custodian until the child turns 18, at which point the account is treated like a traditional IRA under standard IRS rules.1

For U.S. citizens born between January 1, 2025, and December 31, 2028, the federal government will make a one-time $1,000 contribution, called the pilot program payment — into children’s Trump Accounts to help kick-start their savings.1

Who Receives the $1,000 Federal Seed — and Who Does Not

The seed money is a detail that may be confusing, so it is worth stating clearly.

Children born between January 1, 2025, and December 31, 2028, who are U.S. citizens, may be eligible for Trump Accounts—and a one-time $1,000 federal pilot contribution deposited directly by the U.S. Treasury.

There are no income requirements to receive this contribution, meaning it is available regardless of family income. The election is made on IRS Form 4547.

By completing this form you’ll be modifying your tax return, and you are encouraged to consult your tax, legal, or accounting professional if you want to move ahead with a Trump Account.

Children born before January 1, 2025, do not receive the federal $1,000 seed. However, they may still open a Trump Account with all other features intact, provided they are under age 18 and have a valid Social Security Number. For families with older children, the account may still make sense as a supplemental vehicle, even without the seed contribution.

What Other Entities Are Making Contributions

The Treasury has announced that dozens of companies are prepared to match their employee contributions to their children’s accounts in various ways. Some companies have stepped up and said they are going to contribute to the accounts, and some others have said they will make contributions as part of their philanthropic initiatives. Taken together, these additional contributions may start to add up.2,3

This contribution is separate from the federal program and has its own eligibility process. Families in qualifying areas should monitor updates from the Invest America Council for details as they are finalized.

How Account Contributions Work

Once a Trump Account is open, here is who can contribute and how:4

  • Parents, family members, friends, and the child themselves may contribute up to $5,000 per year, combined. This limit will be indexed for inflation starting in 2027.
  • Employers may contribute up to $2,500 per year to an employee’s account or the account of the employee’s dependent. Employer contributions count toward the $5,000 annual limit.
  • Governmental entities, state programs, and eligible 501(c)(3) charitable organizations may make qualified general contributions to a class of beneficiaries, such as all children born in a given year within a state or county. These contributions do not count against the $5,000 individual limit.
  • There is no earned income requirement for the child. Contributions are after-tax (not deductible) for individual contributors.

One important tax distinction: Individual contributions from parents, family, and the child are made with after-tax dollars and are generally not taxable upon withdrawal. The federal seed, employer contributions, and charitable program contributions are treated as pre-tax and will be taxable as ordinary income when withdrawn.

This article goes over high-level information. Your tax professional can speak to your unique tax situation.

Where the Money Can Be Invested

There are constraints on where the assets in Trump Accounts can be invested. Account funds must be invested in low-cost U.S. equity index funds or exchange-traded funds. The law imposes a fee cap of 0.10% (10 basis points) annually.5

What that means in practice: Funds are concentrated in U.S. stock market exposure, without access to international equity, fixed income, real assets, or other asset categories. For an 18-year time horizon, a U.S. equity index allocation has historically performed well. The potential lack of asset class diversification and the presence of more conservative options within the account are factors families and their financial professionals should consider in the broader picture.

Exchange-traded funds are sold only by prospectus, which will provide more detail on the risks, expenses, and investment objectives. We encourage you to read the prospectus carefully. Asset allocation and diversification are approaches to help manage investment risk. Asset allocation does not guarantee against investment loss.

How Much Could Your Child’s Account Be Worth Before They Graduate High School?

What is the “Growth Period” of an Account?

The “growth period” for the beneficiary of a 530A account begins when the initial Trump Accounts were established and ends on December 31 of the calendar year in which the account beneficiary attains age 17. Generally, distributions from Trump Accounts are not allowed during the growth period.5

What Happens When the Child Turns 18?

At the end of the calendar year in which the child turns 17, the growth period officially closes. From that point forward, the account operates as a traditional IRA under standard IRS rules, and the child takes full ownership.

Penalty-free uses after age 18 follow traditional IRA exception rules, which include:

  • Qualified higher education expenses (tuition, fees, required books, room, and board)
  • First-time home purchase, up to $10,000 lifetime
  • Withdrawals after reaching age 59½ for retirement
  • Other traditional IRA exceptions under IRS rules (disability, certain medical expenses, etc.)

Once you reach age 73, you must begin taking the required minimum distributions from a traditional IRA in most circumstances. Withdrawals from traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.

There is also no requirement to use the funds for a specific purpose—the child may withdraw for any reason upon turning 18, though taxes and potential penalties would apply.

This last point is worth flagging in family conversations. Unlike a 529 account, which is structured specifically around education spending, Trump Accounts do not legally restrict the beneficiary’s access once they reach 18. Parents and grandparents contributing with specific goals in mind should factor this into their overall strategy.6

A 529 plan is a tax-advantaged education savings plan. Before choosing a plan, it’s important to consider not only the state tax treatment – but also any associated fees and expenses.6

How Trump Accounts Compare to Other Savings Vehicles

While Trump Accounts are a new tool, they are not meant to replace existing ones. How they stack up depends on what your family is trying to accomplish.

If education funding is your primary goal, you might want to consider a 529 account because of its tax-free growth and tax-free withdrawals for qualifying education expenses. If the goal is to focus on the future with flexibility beyond college, then Trump Accounts may play a role.

State Tax Conformity: An Important Variable

Federal tax treatment is only part of the picture. States are not required to conform to federal tax rules, and some do not. California, for example, does not currently conform to Section 530A. Families in non-conforming states may face state income tax on deferred federal growth. This is an area where guidance is still evolving and where involving a tax professional can help.

What to Do Right Now

The most time-sensitive action for families with children born in 2025 or 2026 is establishing the account and making the pilot program election to pursue the federal $1,000 contribution. Here is a checklist to consider:5

  • If your child was born in 2025: File IRS Form 4547 through Trumpaccounts.gov.
  • Contributions can begin after July 4, 2026.
  • If your child was born in 2026 or later through 2028, file Form 4547 at any time before December 31 of the year the child turns 17.
  • If your child was born before 2025 and is under 18, an account can still be opened without the federal seed.
  • Regardless of birth year: Confirm your state’s tax conformity with Section 530A before making substantial contributions.
  • Revisit your existing strategy: If you already have a 529 account, the Trump Accounts may work alongside it.

A Few Cautions

New account types take time for implementation guidance to settle fully. As of July 2026, several aspects of Trump Accounts are confirmed in statute, but IRS regulations are still being finalized. Key areas of ongoing guidance include specific eligibility verification procedures for the federal seed, gift tax treatment for contributions (particularly for grandparents), and final confirmation of withdrawal rules and penalties as they interact with traditional IRA frameworks.

Good recordkeeping matters from the start. Track the source of every contribution separately, because personal after-tax contributions and government or employer pre-tax contributions are taxed differently on withdrawal. Mixing records may complicate your tax strategy down the road.

If you’re considering Trump Accounts, a financial professional may offer some insights. The rules are real, the benefits are real, and the decisions about how to incorporate Trump Accounts into a broader savings strategy are genuinely individualized.

Frequently Asked Questions

Can Grandparents Contribute to Trump Accounts?

Yes. A parent, guardian, grandparent, or adult sibling can make an election for an eligible child and file Form 4547 on their behalf. Grandparents can also contribute to the account once it is open, subject to the $5,000 annual combined limit that applies across all contributors. The accounts are well-suited to multigenerational giving, but coordinating contribution amounts across family members matters.8

What Happens to Trump Accounts if My Child Does Not Go to College?

The account does not require an educational purpose. After the child turns 18, the account behaves like a traditional IRA, and penalty-free withdrawals are available for qualified higher education expenses, a first-time home purchase up to $10,000, or retirement after reaching age 59½. For any other use before 59½, withdrawals are subject to ordinary income tax plus a 10% early withdrawal penalty on the taxable portion.9

Can My Child Have Both Trump Accounts and a 529 Account?

Yes. There is no rule preventing a family from maintaining both Trump Accounts and a 529 account simultaneously. The two accounts might serve different purposes: A 529 account for education spending with tax-free qualified withdrawals, while Trump Accounts can be used for other things. 10

Should I Open a Trump Account Even if I Already Maxed Out a 529 Account?

It depends on your goals and tax situation, but the $1,000 federal seed for children born 2025 through 2028 is a straightforward reason to establish the account. If your child is eligible for the federal $1,000 contribution, filing Form 4547 online takes little time and costs nothing.7

Is There a Deadline to Claim the $1,000 Federal Contribution?

The last day to make a pilot program election for an eligible child is December 31 of the calendar year in which the child reaches age 17.5

For children born in 2025, the election can be made with the 2025 tax return or through TrumpAccounts.gov, and the earlier the account is established, the longer the $1,000 has the opportunity to grow before the child turns 18.

Interested in setting up a time to talk about financial planning for your family? Contact First Financial’s Investment & Retirement Center

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This content is for informational and educational purposes only and does not constitute tax, legal, or investment advice. Trump Accounts rules are subject to ongoing IRS guidance. Consult a qualified tax advisor or financial professional before making decisions based on this content. Projected growth figures are hypothetical and illustrative only; past performance of any index does not guarantee future results. Copyright FMG Suite.

A 529 plan is a tax-advantaged education savings plan. Before choosing a plan, it’s important to consider not only the state tax treatment but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax.

Sources:

1. Investor.gov, April 2026
2. BusinessWire.com, January 29, 2026
3. APNews.com, December 2, 2025
4. IRS.gov, December 2, 2025
5. GovInfo.gov, March 9, 2026
6. PKFOD.com, April 2026
7. BrooklynFI.com, February 20, 2026
8. MilestoneFinancialPlanning.com, March 26, 2026
9. Knowledge.DLAPiper.com, March 30, 2026
10. ConcentricWealthPartners.com, March 6, 2026

Guide to Celebrating America’s 250th Anniversary in Monmouth & Ocean Counties

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This weekend marks America’s 250th anniversary and there’s no shortage of ways to celebrate it in Monmouth and Ocean Counties! Check out our guide for some local fireworks, parades, and events to celebrate the special occasion.

Be sure to check dates, times, locations, and weather for any of the events you plan to attend, as details may be subject to change.

July 1

Seaside Heights | America’s 250th Celebration | 5pm-10pm

Enjoy a patriotic celebration filled with red, white, and blue along Casino Pier! There will be lively patriotic characters, face painting, patriotic drumline performances, and an all-new Beach Ball Drop. There is no cost for any of the activities. There will also be a wristband special for families to enjoy unlimited rides on the pier for just $29 from 1pm-7pm. You can end the night by enjoying the Seaside Heights Fireworks at 9:30pm.

Aberdeen | America 250 Celebration | 5pm-10pm

Join an evening filled with live entertainment, food vendors, family fun, and fireworks as we celebrate America 250 at Veterans Memorial Park (Ocean Blvd. and Lakeshore Drive). Admission is free, and refreshments will be available for purchase. Fireworks begin at 9:15pm, so don’t forget your chairs, blankets and patriotic spirit!

July 2

Wall | Allaire Village Antique American Flag Display | 11am-4pm

Don’t miss this unique, historic American flag display – featuring flags dating back to the 1800s at the chapel at Allaire State Park (available from July 2nd-July 5th). Admission for the flag display is free. There will also be a no-cost concert at 1pm on July 3rd at the gazebo, performed by the NJ National Guard 63rd Army Band. Bring a lawn chair or blanket if you plan to attend the concert. Learn more.

Red Bank | America’s 250 Celebration | 4pm

Don’t miss this epic celebration at Broadwalk. At 4pm there will be activities for kids including a balloon artist, face painting and games. At 5pm there will be a DJ on site, trivia, giveaways, photo ops, and a pie eating contest. Don’t miss John Luckenbill’s Pop Band at 7pm, following by a 250th Anniversary laser light show at the intersection of West Front Street and Broad Street.

Howell | Independence Day Celebration | 5pm-9:30pm

Let Freedom Ring at Soldier Memorial Park (Lakewood Farmingdale Rd.)! Enjoy live entertainment, rides and activities, a karate demonstration, and cornhole – because nothing says Fourth of July more! There will be a fireworks display at dusk. There is no entry fee to attend, but there will be food and beverages (for those 21+) available for purchase.

Ocean Township | 4th of July Celebration | 5:30pm-10pm

The annual celebration will take place at Joe Palaia Park (Whalepond Rd.) – featuring live music, food trucks, family activities, and more. The night will end with a fireworks display. There is no entry fee to attend, but items will be available for purchase.

Brick | Summerfest & Fireworks | 6pm

Brick’s annual Summerfest kicks off at Windward Beach Park on Princeton Avenue with a special 250th anniversary concert, followed by fireworks at dusk.

Toms River | Patriotic Concert & Drone Show | 7:30pm

There will be a patriotic concert followed by a drone show over Silver Bay (Bayfront Field, 1189 Bandon Rd.) Park at Cattus Island Park and a free shuttle will take you to the bayfront field. The show will begin with a 25-piece orchestra performing patriotic favorites. The concert will be followed by a drone show. There will also be food trucks, games, informational exhibits and a Revolutionary War-themed trailer highlighting the nation’s upcoming celebration.

Bradley Beach | Fireworks | 9pm-10pm

Don’t miss these annual Independence Day fireworks on the beach! No cost to attend. Be sure to also bring a chair or blanket.

July 3

Manasquan | Fourth of July Parade, Concert, and Fireworks | 5pm-9:30pm

Celebrate America’s 250th Birthday with a festive parade of bikes and golf carts, followed by a live musical performance at the Manasquan Beach Boardwalk (201 Beachfront). The evening will end with a fireworks display. There is no entry fee to attend.

Colts Neck | Annual Independence Celebration & Fireworks | 6pm

One of the largest-attended public events in Colts Neck, the town’s annual fireworks celebration at Bucks Mill Recreation Area (137 Bucks Mill Rd.) includes local businesses and organizations, while bringing the community together. There will be an apple pie eating contest, flag ceremony, various refreshments, music, and fireworks at dusk. A $10 parking donation is suggested. Find out more.

Belmar | Concert, Light Show and Fireworks | 8:30pm

The summer sky will be lit up with a fireworks spectacular and computerized light show set to music, outside Taylor Pavilion (5th and Ocean Avenues). A free concert will begin at 8:30pm, followed by the laser light show and fireworks display – which will start around 9:10pm. Though the event is free to attend, the town is suggesting a $25 donation from each family attending which will be donated to Rebuilding Warriors.

Asbury Park | Fireworks Display | 9pm

There are no bad seats for Asbury Park’s fireworks display, brought to you by Garden State Fireworks. This show will light up the sky over the waterfront, following the decades-old tradition. Arrive early to get your viewing spot set up, the fireworks display will take place between 1st and 4th Avenue beaches.

July 4

Manalapan | Celebration of Independence Day | 10:30am-3:30pm

Experience the Fourth of July like its 1776 at Monmouth Battlefield State Park! There will be a living history camp, demonstrations of cannon firing, and a reading of the Declaration of Independence. There is no entry fee to attend.

Plumsted | Celebrate America Food Trucks & Fun | 12pm

Gather your family and friends for two star-spangled days of patriotic fun at Laurita Winery – with the fun also continuing on July 5th! The beautiful vineyard is a great place to enjoy live music and entertainment, gourmet food trucks, and Laurita’s specialty alcoholic beverages (for those ages 21 and over). There will be a fireworks display on July 4th only. Admission is $15 + tax per adult online until 6pm the day before, or $20 at the door. Those under 21 get in free.

Holmdel | Independence Day Celebration | 12pm-3pm

Independence Day was a festive time in the 1890s – patriotism was celebrated with music and games. Join the staff at Longstreet Farm as they celebrate the holiday with games and contests. This event is free to attend.

Keansburg | Annual Family Fun Fest & America 250 Celebration | 12pm-9pm

Celebrate Keansburg’s kickoff to summer at their annual Family Day at Baywalk East (2 Beachway Ave.). Set up your beach spot and enjoy a full day of non-stop entertainment, with a HUGE fireworks display to follow! Bring your friends, family and summer vibes.

Long Branch | Oceanfest | 1pm-10pm

Celebrate the nation’s big milestone, taking place at the Long Branch Great Lawn & Promenade. There is a lineup of bands providing entertainment all day long, live dances and performances, family-friendly activities, and food trucks. There will also be a spectacular fireworks display over the ocean as the night ends. There is no entry fee to attend, but items will be available for purchase.

July 5

Freehold | Independence Day Concert & Fireworks and Hot Dog Eating Contest | 5:30pm

Enjoy a packed schedule of live music, entertainment by Mision Dance, and a fireworks display at the Freehold Raceway at 9:15pm. Jersey Freeze will also be hosting their third annual hotdog eating contest at 6pm. The festivities kick off with a live DJ, a face painter and balloon artist, a guest appearance from Buster of the Jersey Shore BlueClaws and an appearance from the East Freehold Fire Department. There is no entry fee to attend, but there will be food available for purchase at Jersey Freeze. You can also watch the Freehold fireworks display from Jersey Freeze at sundown.

Pt. Pleasant | Independence Day Weekend Fireworks | 9:30pm-9:50pm

Enjoy a spectacular fireworks show from the beach at Jenkinson’s Boardwalk. Before the fireworks, you can enjoy the activities the boardwalk has to offer, such as family-friendly rides and games or enjoying one of the various dining options. There is no entry fee to enjoy the fireworks display.

Happy 250th Birthday, America! Stay tuned for our regular list of budget-friendly activities to enjoy in Monmouth and Ocean Counties for the remainder of July – coming next week.

Business Loan vs. Business Line of Credit: What’s the Difference?

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Running a business often requires access to funding. Whether you’re purchasing equipment, expanding your operations or managing seasonal cash flow fluctuations – having the right financing solution can help you achieve your business goals.

Two of the most common business financing options are business loans and business lines of credit. Understanding these funding options can help business owners make informed financial decisions. While both provide access to capital, they work differently and are designed to support different business needs.

Understanding the differences can help you choose the financing option that’s right for your business.

Key Takeaway

Business loans are typically best for large planned purchases, while business lines of credit are often used to manage cash flow and ongoing expenses.

What is a Business Loan?

A business loan provides a lump sum of money that is repaid over a set period of time through fixed monthly payments.

Common uses for a business loan include:

  • Purchasing equipment or vehicles
  • Renovating or expanding a facility
  • Investing in new technology
  • Opening a new location
  • Funding a large project or initiative

Benefits of a Business Loan

  • Predictable monthly payments
  • Fixed repayment schedule
  • Ideal for large, one-time expenses
  • Easier business budgeting and financial planning

What is a Business Line of Credit?

A business line of credit, sometimes referred to as a business credit line – provides access to a predetermined credit limit that you can draw from as needed. Unlike a business loan, you don’t receive all the funds upfront. Instead, you borrow only what you need when you need it. Many business lines of credit are revolving, meaning funds become available again as balances are repaid.

A business line of credit can be useful for:

  • Managing cash flow fluctuations
  • Covering payroll during slower periods
  • Purchasing inventory throughout the year and supporting effective inventory management
  • Handling unexpected operating expenses
  • Taking advantage of short-term business opportunities

Benefits of a Business Line of Credit

  • Flexible access to funds
  • Borrow only what you need
  • Interest is typically charged only on the amount borrowed
  • Helpful for managing ongoing expenses and working capital needs

Can You Have Both?

Yes. Many successful businesses use a combination of financing solutions. For example, a business may use a loan to purchase equipment while maintaining a line of credit for day-to-day cash flow management. The right solution depends on your business goals, financial situation, and future plans.

How to Choose the Right Financing Option

Before applying for financing, ask yourself the following questions:

  • Do I need funding for a specific project or purchase?
  • Will my funding needs be ongoing or occasional?
  • How important are predictable monthly payments?
  • Do I need immediate access to all the funds?
  • How will this financing support my business goals?

Answering these questions can help you determine which financing option aligns best with your business needs.

Partner With First Financial

Every business is unique, and financing needs can change as your business grows. At First Financial, we’re committed to helping businesses find financial solutions that support long-term success. Our team can help you explore available financing options and determine which solution may be right for your business goals.*

Choosing between a business loan and a business line of credit ultimately comes down to how your business plans to use the funds. Businesses with defined, one-time expenses often benefit from the predictability of a loan, while businesses seeking flexibility may find a line of credit better suited to their needs.

Contact us today to learn more about our business loan solutions and resources designed to support long-term business success.

*A First Financial business account is required to obtain a business loan. A $5 deposit in a Base Savings Account is required to establish membership prior to opening any other account/loan. A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. Other terms and conditions may apply, see credit union for details.

First Edition Member Newsletter: Quarter 2 2026

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Our Quarterly Member Newsletter is here, and it’s packed with lots of financial tips, fresh insights, and exciting updates!

Our Member Newsletter is now available electronically, where it can be found on our website and social media sites. Paper copies will be available in our branches.

The Quarter 2 2026 First Edition Member Newsletter features the following:

View a copy of the newsletter.

We hope you enjoy exploring what’s new here at First Financial!

*Full promotion terms and conditions are available on our 90th Anniversary webpage.

Prevent a Rift: Money Tips for Newlyweds

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35% of couples attribute stress in their relationship to financial issues. This could explain why some experts say financial problems are one of the top reasons marriages fail.1,2

Fortunately, when couples work together to address their finances, they may be able to mitigate many of the problems money may cause in a marriage.

10 Tips for Newly Married Couples

  1. Communication – Couples should consider talking about their financial goals, memories, and habits, as each partner may come into the marriage with fundamental differences in experiences and outlooks driving their behaviors.
  2. Set Goals – Setting goals establishes a common objective that both partners become committed to pursuing.
  3. Create a Budget – A budget is an exercise for developing a spending and savings plan that is designed to reflect mutually agreed-upon priorities.
  4. Set the Foundation for Your Financial House – Identify assets and sources of debt. Look to begin reducing debt, while building an emergency savings fund.
  5. Work Together – By sharing the financial decision-making, both spouses are vested in all choices, reducing the friction that can come from a single decision-maker.
  6. Set a Minimum Threshold for Big Expenses – While possessing a level of individual spending latitude is reasonable, large expenditures should only be made with both spouses’ consent. Agreeing to a purchase amount should require a mutual decision.
  7. Set Up Regular Meetings – Set aside a predetermined time once or twice a month to discuss finances. Talk about budgeting, upcoming expenses, and any changes in circumstances.
  8. Update and Revise – As a newly married couple, you may need to update the beneficiaries on your accounts, reevaluate your insurance coverage, and revise (or create) your will.3
  9. Love, Trust, and Honesty – Approach contentious subjects with care and understanding, be honest about money decisions you know your spouse might be upset with, and trust your spouse to be responsible with handling finances.
  10. Consider Speaking with a Financial Professional – A financial professional may offer insights to help you work through the critical financial decisions that all married couples face.

Questions about this topic or interested in setting up a time to talk? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534.  You can also email maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

  1. CNBC.com, May 9, 2023
  2. Investopedia.com, June 10, 2023
  3. When drafting a will, consider enlisting the help of a legal, tax, or financial professional who may be able to offer additional insight, especially if you have a large estate or complex family situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.