• Home
  • Mobile Banking
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map
Citizens First Bank Logo Log In Click for contact info
Open an AccountOpen an AccountClick for Mobile bankingMobile Banking Click for online banking Online Banking Click for contact info Contact Us
Citizens First Bank Logo
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
Citizens First Bank Logo

You are now leaving Citizens First Bank's website and are going to a website that is not operated by the bank. We are not responsible for the content or availability of linked sites.

Citizens First Bank offers links to other third party websites that may be of interest to our website visitors. The links provided in our website are provided solely for your convenience and may assist you in locating other useful information on the internet. When you click on these links you will leave the Citizens First Bank website and will be redirected to another site.

These sites are not under the control of Citizens First Bank. Citizens First Bank is not responsible for the content of linked third party websites. We are not an agent for these third parties nor do we endorse or guarantee their products. We make no representation or warranty regarding the accuracy of the information contained in the linked sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on these sites may be different than Citizens First Bank policies, so please read third party privacy and security policies closely. If you have any questions or concerns about the products and services offered on linked third party websites, please contact the third party directly.

Proceed
Home Blog 5 Ways to Prepare for Financial Independence
Single Post Featured Image

January 26, 2022

5 Ways to Prepare for Financial Independence

Prepare yourself today with the right financial path for the future you want.

Achieving financial freedom means having enough savings, investments, and cash on hand to support yourself and your family now and through retirement. Sound intimidating? Managing payments, taxes, and credit cards on your own is not easy, but by meeting small goals along the way you can become financially responsible before you know it!

Set financial goals

Whether your goal is to move out of your parent’s house, purchase a home for the first time or just get on top of car and rent payments, establishing financial milestones to get you there is a great way to start. Maintaining a budget by using a spreadsheet or app is a great habit for making the most out of your income so you can meet your goals.

Build credit

Make a goal to open a credit card as soon as possible since the longer your credit history, the better. Establishing a credit score is essential for qualifying to rent an apartment and applying for jobs. If you are under 18 it is possible to have a credit score without opening a credit card yourself by becoming a joint cardholder with your parents. As a rule, pay your balances in full each month to avoid interest charges, use less than 30% of your available credit and avoid closing lines of credit without reason since this can reduce your credit history.

Stay on top of debt and bills

To avoid paying interest on debt long term, make a strategy to pay down your debt in a timely manner. By proactively paying your bills on time, you can avoid late fees and maintain a good credit rating. Many college graduates have large student loan payments to account for, and by looking into debt consolidation or by extending payments over a longer time period, you can make payments more manageable.

Start saving today

Due to compounding interest, the more time your money is put aside in savings, the better. As a general guideline, try to put roughly 20% of your paycheck into savings. If your goal is to move out of your parent’s house, you can prepare each month by setting aside funds for a security deposit or down payment.

For more resources and options, visit your local Citizens First Bank in person or online. Our experienced team can help you on the path to financial independence.

Facebook0
Other posts you may like

6 Ways to Save on Date Night

A memorable and fun date night doesn’t need to break the bank! Whether you’re getting to know a new potential match, or are in an established relationship, dates play an important role in making connections. While an elaborate night out can be an exciting occasion, there are many other date night options that won’t break […]

Other posts you may like

How to Protect Yourself from Fraud

Follow these steps to avoid and prevent financial fraud. Discovering fraudulent activity on your account can be a frustrating experience. While you can’t always stop fraud from occurring, there are steps you can take to minimize it. Here are some helpful tips to help protect yourself from financial fraud: Stay alert while online. When you’re […]

Recent Article


6 Ways to Save on Date Night

February 1, 2023

Recent Article Featured Image

You May Also Like


How to Protect Yourself from Fraud

January 25, 2023

Will Your Retirement Savings Be Enough?

January 18, 2023

5 Common Investing Mistakes to Avoid

January 11, 2023

3 New Year’s Money Resolutions

January 4, 2023

  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map

©2023 Citizens First Bank. Equal Opportunity Employer. Member FDIC. Equal Housing Lender.

FDIC logo