Cash Management
Cash Management (Soft Token Required) ACH Originators and Merchant Capture Deposits
Cash Management (Soft Token Required) ACH Originators and Merchant Capture Deposits
Cash Management (Soft Token Required) ACH Originators and Merchant Capture Deposits
January 4, 2022
With the new year beginning, now is the time to review the financial decisions you’ve made during the past year. This provides an opportunity to reassess goals and build financial stability by creating new goals.
Setting a clear budget for yourself is an easy way to manage personal finances and spending habits. At the beginning of the year, take some time to review your current budget (or start a new one) and track any routine expenses you’ve encountered throughout the past year (groceries, cell phone, rent, etc.) After doing so, see how much money you have left for additional expenses (entertainment, dining out, etc.) Creating a list of what you can and can’t afford will help you direct where your money is being spent.
Another great financial resolution to make is to prioritize paying off any loans or high-interest debts that are building up. Consider putting some extra money towards your monthly mortgage bill or paying off personal debt such as student loans. Designating a set amount of money to a specific purpose each month will help you cut down those extra expenses and responsibly delegate your finances.
Although retirement may seem far away, it’s never a bad idea to revisit your retirement savings and needs. If you don’t already have one, consider opening a retirement account such as a (401)k or (403)b. If you’re self employed, look into retirement saving plans such as an IRA (individual retirement account). During the new year, make sure to also review your insurance and plan for any long-term costs that you may confront down the line. Get more budgeting resources and expert advice for the new year from Citizens First Bank.
Setting financial goals for yourself can help you stay on track when it comes to spending and making smart money decisions. For more advice about budgeting and resources, stop in, give us a call or visit our website today. Our experienced team can help find the right financial strategy for you in 2023 and beyond.
