Now is the time to spring clean your finances. As warmer weather sets in you’ll want to be outdoors. So, just as you’ll be itching to spring clean your home why not treat your finances to a clean-up too? Here are our top six tips for spring cleaning your finances.
1. We’ve said it before and we’ll say it again, sticking to a budget is key to managing your finances. Spend some time going over your spending. Are you sticking to the plan or are you straying from the budget? Do you need to budget more in certain areas? If so, and the spending is warranted, adjust your budget. Our My Money Manager financial management tool allows users to not only set up a budget but also create savings goals, making budgeting easy.
2. Bank online. Our mobile app allows for account inquiry, transfer of funds between accounts and to external accounts, debit card management, the viewing of check images, transaction history, and statements, mobile deposit capture, and person to person payments. Managing your finances couldn’t be simpler.
3. Do you need to consolidate accounts? Open a new savings account? Are you keeping track of your statements? We offer several accounts from our passbook savings account designed to help the average depositor set aside some extra money, to our health savings account for setting aside funds for medical expenses, to an individual retirement account.
4. Opt for less paper, honestly your life will be a lot easier if you do everything electronically. Not receiving all those paper bills in the mail, especially if you use online bill pay, will cut back on the piles of paper by the front door or in the kitchen. With online bill pay you can schedule one-time payments or recurring payments, track payments, view scheduled payments and payment history, set up custom email or text alerts to let you know when payments are due and add e-Bills to see due dates and amounts of upcoming bills.
5. Pay down your debt and consolidate your loans. If you’re struggling to do so, set up a payment plan. Look for ways to find the extra money you need each month to pay off the debt.
6. Plan for the future. Do you have a retirement account? Do you have college savings accounts for your kids? Do you have long-term healthcare insurance? All of the above are extremely important if you want to live stress-free. At Warren-Boynton State Bank we offer both traditional and Roth IRA accounts in an 18-month variable-rate instrument for anyone interested in opening a retirement account. It’s never too early to start planning for your future.
If you have any questions about the above please stop by one of our branches in New Berlin, Springfield, Modesto, or Palmyra.