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It’s that time of year again: Time to clean out those closets, polish that furniture and clear out that clutter! Spring is also the perfect time of year to review your saving habits and spruce up your saving goals.
Here’s how to spring-clean your savings in five easy steps.
1. Assess your saving habits
First, take stock of how much you’re putting into savings each month. If you believe you should be setting aside more of your monthly income toward savings, look for ways to cut back on your discretionary spending.
Spruce up those savings!
2. Consolidate and simplify accounts
Next, take a look at the places you keep your money. If you have multiple savings accounts, retirement accounts or investment accounts, consider consolidating them to streamline your finances and reduce the hassle it takes to manage them all. Be sure to compare fees, rates and other features before making changes.
Clean up those accounts!
3. Reevaluate your financial goals
What are your long- and short-term saving objectives? Do you still want to go after them? If not, consider setting new ones. Think of your future wants and needs, as well as small pleasures you’d love to enjoy in a few years, or even in a few months.
Get those goals sparkling!
4. Automate your savings
Now that you have your saving goals clearly defined, it’s time to make it happen by itself. Set up automatic monthly transfers from your checking to your savings account(s) so you never forget to feed your savings.
Make that monthly transfer shine!
5. Use our financial wellness tools
We are committed to helping you manage your finances and improve your financial well-being. That’s why we’ve introduced new Financial Wellness tools in Digital Banking, providing insights into your financial health.
The Financial Wellness widget within digital banking offers a visual summary of transactions across all your accounts for up to one year. It automatically categorizes transactions, identifies recurring expenses, and allows you to set savings goals. You'll also receive a FinHealth Score® to assess your overall financial health and actionable recommendations to enhance it.
Simply log in to digital banking to get started.
Spring is in the air – it’s time to make your savings sparkle!