The best ways to build a stronger financial plan this year (plus resources!)

The new year is an opportunity to reset and build momentum for your financial goals. Here are Bank Midwest’s top tips and resources to ensure you’re on track to meet your life goals this year.

Pay Yourself First

Regardless of where you’re at in life, saving should be a top priority. But this doesn’t mean tucking your money away to never use. It means paying yourself first to build your safety net and save for your goals.

If you haven’t already, open a savings and checking account to separate your finances. Mobile banking makes transferring portions of paycheck from your checking to savings easier than ever.

Hold Yourself Accountable

With just a few simple planning steps, you can take control of your finances and not let them control you. The best way to hold yourself accountable is to set your lifestyle goals and create a monthly budget (Add link to new budget blog).

There are so many ways to plan your budget and help you reach your goals, but the first step is tracking your expenses. You can use online banking to track your monthly spending and set up a budget to build your lifestyle.

Save for Retirement

Saving for retirement can feel overwhelming, but starting a retirement account is as easy as starting a checking account. Plus, your retirement account gives you tax breaks while you save and later withdraw funds.

Check to see if your employer offers a retirement account and matching opportunities. If you’re self-employed or a small business owner, you can open an IRA (individual retirement account). IRAs also reward you for your savings, especially in tax season.


Want more finance tips? Listen to Dream, Plan, Live: the Bank Midwest podcast to learn more about how you can live your best life by saving better.

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