December 31, 2024
A Fresh Start for Your Finances: 3 Simple Banking Resolutions for the New Year
The start of a new year is the perfect time for a fresh perspective. While many of us are thinking about health and wellness goals, it’s also a great opportunity to check in on our financial wellness.
You don’t need a complicated plan to make a big difference. Building stronger, smarter banking habits can help you feel more in control of your money all year long. As your local banking partner, we're here to support you with simple tools and friendly service.
Here are three easy-to-adopt resolutions to help you start the year off right.
1. Give Your Budget a Quick "Health Check"
Your financial picture can change from year to year. Take a few minutes to review where your money is going. You don’t need fancy software—a simple notebook or spreadsheet works just fine.
- Look Back: Glance through your last couple of bank statements. Where did you spend the most? Were there any surprises?
- Look Ahead: Think about the coming year. Are there any big expenses on the horizon, like a vacation or a car repair?
- Make One Small Change: Find one area where you could realistically cut back. Even saving $20 a week by packing your lunch a couple more times adds up to over $1,000 in a year!
2. Make Saving Automatic
The easiest way to save money is to make it happen without thinking about it. "Paying yourself first" is a powerful habit. By setting up an automatic transfer, you treat saving like any other bill.
- Pick an Amount: Small amounts can add up fast without feeling the pinch each paycheck.
- Set It and Forget It: Set up a recurring automatic transfer from your checking account to your savings account. You can easily do this through our online banking portal or our mobile app.
- Watch It Grow: It’s incredibly motivating to see your savings balance tick up over time, creating a safety net for the future.
3. Go Digital for a Day-to-Day Advantage
Take full advantage of the digital banking tools available to you. They are designed to make your life easier and give you a clearer view of your finances in real-time.
- Turn on Alerts: Set up email or text alerts for low balances, large withdrawals, or deposits. This helps you stay informed and can prevent overdrafts.
- Use Mobile Check Deposit: Save a trip to the bank by depositing checks right from your smartphone. It’s secure, fast, and convenient.
- Review Regularly: Make a habit of logging into your online banking or mobile app once a week. A quick glance is all it takes to catch unusual activity and track your spending against your goals.
Your New Year's Financial Checklist
Ready to get started? Here’s a simple checklist to guide you.
- Review my last two bank statements.
- Identify one spending area to cut back on.
- Set up an automatic transfer to my savings account.
- Enroll in digital banking alerts (low balance, large transaction, etc.).
- Download the Traditional Bank mobile app and try mobile deposit.
- Schedule a weekly reminder to check my account balances.
This year, let’s build habits that last. We’re not just a bank; we’re your neighbors. If you have any questions about setting up transfers or using our digital tools, please don't hesitate to visit us or give us a call. (859) 498-0414.
Here's to a happy and prosperous New Year!