It’s a new season and a new month, making it the perfect time to set new financial goals! While money management may not be your strongest asset, we believe with a little goal setting, a little discipline and a little help from Security State Bank, you can end up surprising yourself how much of a financial all-star you really are! Start with these quick tips and watch your money grow.
Create a budget and stick to it – Budgets don’t have to be hard. Write down your outgoing expenses and any incoming money. If you’re spending more than taking in, it’s time to eliminate some costs. If you need help with monitoring your spending, we can help you get on track.
The importance and purpose of a budget is to help you spend less than you earn so you can save money. So by not sticking with the budget, what’s the point of having one? Create it, use it, and stick to it.
Eliminate Wasteful Spending– Next round of bills you receive look at them closely. Do you need every service you’re paying for? Are you being charged unknown fees? Go through your bills with a fine tooth comb and raise any flags so you’re not nickel and dimed.
We live in a time of instant gratification, but that often leads to financial consequences. Before every purchase, ask yourself “Do I really need this?” If you find the answer is no, leave it behind and move forward.
Build Your Savings – Every time you’re paid, the first deposit should be into your savings account. Essentially, you’re paying your future self for emergencies and retirement.
If you haven’t done so already, now is the perfect time to set up your 401k or 403(b). Generally, companies match their employees to a certain percentage and that’s free money you should be taking advantage of today.
Leave money you’re saving alone. There are penalties for withdrawing money early from certain accounts. Why pay a penalty for money you worked hard to put in there? Let it sit tight and watch it grow!
We hope these tips help you work to your financial goals this month or season. We are available to help you with your financial management if you need it. Just call or stop by to get your goals underway.
As the seasons change, so do your bills. However, finding new ways to save can be tricky when you’re already super savvy. By creating a good savings foundation during the fall and winter, you will be able to start 2018 in a healthy financial state. That’s why Security State Bank has compiled a list of tips and tricks to prepare your home for the seasons to come in order to save some cash!
Whether it’s reducing your grocery bill, finding more affordable clothing options, or simply turning to the cash-only budget. There are numerous ways you can save. In fact, we recommend blogs such as 
This is by far our favorite way to reduce your overall debts. While you may need to start with finding some new ways to save, once you can allocate some extra dollars, you can put this effective method in action, eliminating your debts. Simply pay the minimum amounts on all outstanding balances, and then using the surplus funds, add to your smallest payment to help pay it off sooner. Once your smallest debt is completely paid, you can rollover the funds being used for that into your next largest debt and so on. Repeat this process until all the debts have been paid off.
The snowball method will help you erase debts one by one, however, using this other strategy you can see about reducing those payments in one quick action. Speak with one of our dedicated lenders to see if your home mortgage or personal loan can be refinanced at a lower rate to save on monthly payments. This may make a small dent, but every little bit counts!
In order to proactively prevent yourself from overspending, freeze all credit cards you currently have in your possession. This step helps you to force yourself to spend only what you have. If you decide to use cash only, the envelope system may help you save even further!
This one simple trick can save you hundreds each and every year! By using your online banking as a resource, you can create an automation to ensure you are never tempted to spend those extra dollars. Instead of of waiting for them to be spend, allocate them in your savings plan, and tuck them away for paying down debt or building your emergency fund to eliminate emergency debts.
