Knowing how to secure your financial well-being is one of the most important things you will ever need in life. You don’t have to be a genius to do it. You just need to be willing to take control over your finances, form a plan, and be ready to stick to it. No matter how much or little money you have, the important thing is to educate yourself about your opportunities.
Simplify Money Management, Create a Plan and Save More
Managing personal finance can be a difficult task, especially when trying to juggle multiple bank accounts from multiple financial institutions. It can be a drag on your time just logging into several banking apps to get your account balance, transfer money and pay bills.
When you consolidate your banking accounts to one bank you can get a complete view of your bank accounts without logging in and out of different websites and apps. Having that at-a-glance view of your money flowing through each checking and savings account will result in better financial decisions, and it will certainly make it easier to transfer funds between accounts.
With Clarity, Comes Increased Savings
Money management starts with having a strong grasp on how much money you have now, how much is coming in each month, and how much you spend. Attempting to do this using multiple banks can be a challenging and time consuming process, hindering you from the routine oversight necessary to reach your financial objectives. If you are serious about taking control over your finances and to reduce your financial stress, or increase your savings, then you really want to make the process as easy as possible.
Once you have an idea of what you spend in a month, you can begin to organize your recorded expenses into a planned budget. Your budget should outline how your expenses measure up to your income—so you can plan your spending, limit overspending and increase your savings. Be sure to factor in expenses that occur regularly but not every month, such as car maintenance.
Budgeting Tip: Include a savings category—aim to save 10 to 15 percent of your income.
Consolidating to one bank can be a big help when it comes to transferring funds between accounts, especially helpful if you are on a direct deposit plan with your employer. You will be able to transfer funds between your checking account and savings account in just minutes making savings easier and more likely to happen.
Direct deposit provides real money management benefits for employees.
To open an account call 845-331-0073 or stop by any of our convenient locations in Kingston, West Hurley or Hyde Park.
300 Broadway, Kingston, NY 12401