If you don’t earn much and feel you can barely pay your bills, the idea of saving money might seem pretty intimidating. As true as that may be, everyone has to start somewhere and you would be surprised how just a few small changes can have a big impact on your financial future.
Thankfully, our friends at Horizon Bank specialize in offering financial advice and helping their customers see the big picture. They want to put you on the path towards savings success by starting with these simple tips:
- Set a goal: The first step is to establish a realistic savings goal. Consider your expenses, make a budget, and determine how much you can put away each month.
- Track your spending: Hold yourself to the budget you’ve set by tracking your expenses. Consider using websites that segment your spending so you can easily see what areas, if any, you are going over budget then adjust accordingly.
- Pay yourself first: Arrange to have a specific amount transferred to your savings account every pay period. If you wait till the end of the month to see what’s left over, you are less likely to save.
- Consult a banker: Stop into Horizon and speak with a banker about which package of products and services would best suit your saving needs.
- Consider investments: For long-term goals, such as saving for a home or retirement, look into bonds, mutual funds, real estate and stocks.
- Learn about flexible banking options: that can keep you connected to your finances anywhere, anytime.
Saving money is worth the effort. It gives you peace of mind, improves quality of life, and gets easier the more you save. Don’t wait to start saving, compare Horizon’s Savings Accounts to find the best fit for your savings needs today!
This article – and your next personal finance tip – are brought to you by our Title Sponsor, Horizon Bank. Founded as a community bank in Michigan City, Indiana, Horizon Bank has been putting down roots the right way ever since. Advisors are purposely hired from local communities and empowered to act. Why? Because local knowledge is the most valuable knowledge.
About the Author:
Julee Laurent is a St. Joseph resident who owns locally-owned Think Tank Marketing Company. She has been a freelance journalist since 1998 and has written for Moody on the Market, Gannett Press, South Bend Tribune, Redbook, Marie Claire, Village Voice Media, Tribune News Papers and started the Journey Shoe Stores owned DiG Magazine.