Small, but mighty financial goals
Financial goals don’t always have to be big and scary. Sometimes, making a few small changes can make a huge difference. Here are few steps you can take to help you make this year your most successful financial year yet!
Take a look at your subscriptions. You know the story; you sign up for a free trial for that must-watch television series. You may be done with that subscription, but it’s not done with you! When the free trial is up, you likely forgot to cancel and now it’s hitting your account every month. It’s time to take a good look at what you are paying for on a recurring basis. Cancel anything you aren’t using regularly. If you’re on the fence about it, cancel it, then see if you miss it. Chances are you won’t!
Set up automatic savings. Saving money is a common financial goal, but it can be harder than it seems. If you have to transfer money manually, chances are you will find yourself skipping out on this step. Make it easy by setting up an automatic transfer within online banking and watch your savings balance grow.
Set it and forget it. Bills come every month, whether we like it or not. Instead of stressing about making sure they are paid on time, set up recurring payments through online bill pay.
Make your tax refund work for you. It’s tax season and while for some it can be expensive, others see a lump sum of money in their account from Uncle Sam. Instead of spending it right away, put some or all of it into a Certificate of Deposit or savings account. That way, you can earn interest and put your money to work for you.
Chip away at debt. Increasing your monthly debt payments by even a small amount each month can help you pay them off sooner. Do this with your highest interest rate loans first, since they are costing you the most.
With just a few small steps, you can make a big impact on your finances!