1. Spend Less than You Earn
We’ve all heard this before. We know it’s easier said than done. But don’t fret.
Use our Savings Goal Calculator to determine a savings plan for you. Set your goal and get a plan of action. See what you need to save each month. See how long it will take to achieve your goal.
With our Savings Goal Calculator, you can easily get reports to graphically view if you are on track or where to make changes.
Quick Financial Tip: Put some of the money you save in a Holiday Savings account. Minimum deposit is $25. Interest earned each month. Eliminate worry and over-spending with money in the bank before the holidays hit in 2023.
2. Plan Ahead
If you haven’t already started, invest in your retirement. Take full advantage of employer retirement plans and open an IRA (Individual Retirement Account). IRAs help you plan and save for the future while providing tax benefits.
3. Trust Your Instincts
When it sounds too good to be true, it is. “Get rich fast” investment opportunities are typically a scam. If you’re banking on a big lottery win, you will likely be left empty-handed.
While we all wish there was one solution or formula to financial success, that simply isn’t the case. Each person and household is unique in goals, opportunities, financial responsibilities, risk comfort levels, and ultimately, what priorities they place on where they want to spend their money.
That is why it’s essential to find financial advisors, wealth management planners and lending institutions you trust.
At Minster Bank, our financial experts and money managers work with you to design a financial roadmap that will help you meet your goals this year and in the many years to come.
Hit the road to financial success in 2023!
With a little time and expert guidance, you can achieve financial success for yourself, your family and your legacy.