Managing your money well is crucial for achieving long-term financial stability and reaching your goals.
There's no doubt that at times it can feel overwhelming to budget for today's needs and save for the future. But with the right tools and guidance, you can stay on track and reach your financial goals. Here are some top tools and strategies to keep your finances in check.
1. Run the numbers
Whether you're buying a home, a car, paying off debt or simply saving for an emergency fund, it helps to know what you should put aside every month to meet your goals on your timeline. Use our calculators to make a plan.
2. Make your budget work for you
Budgeting is the cornerstone of financial management. With Budget Builder, located within The Bank of Missouri mobile app, you can easily create a budget, track your spending, manage your cash flow and set savings goals. Tap "Budget & Save" to get started.
3. Pay your bills automatically
Improving your credit score starts with consistently making on-time bill payments. Your payment history significantly impacts your credit health. Late payments to creditors can lower your credit score and cost you even more with penalties and fees. By using BillPay to automate your recurring payments, you can guarantee your bills are paid on time, every time.
4. Get alerts about account activity
Overspending can happen easily when you're unsure of your account balance. Thankfully, with mobile and online banking, you can set up account alerts to stay informed in real time. Set account alerts to notify you via email, text or in app message when your balance falls below a specified amount.
Beyond alerts, you can conveniently monitor your accounts no matter where life takes you. Easily check your balances, review recent transactions and more using The Bank of Missouri’s mobile app.
5. Automate your savings
Building a robust savings habit is essential. Automating your savings can help you consistently set aside money without thinking about it. If your paycheck is directly deposited to your checking account, consider funneling a portion into savings. You can also use automatic transfers within our online and mobile banking. Set up a recurring transfer so a certain amount of money is automatically moved into your savings each time you get paid.
6. Stay in the know
Knowledge is power when it comes to managing finances. When you're equipped with helpful guidance, you can be confident about money decisions. Using our blog, you can find more financial tips, how-to guides and ways to keep your hard earned money safe. If you’re researching the best banking products and services for your situation, we have blogs (written by our financial professionals) ready to help you dig deeper.
Staying financially on track requires a mix of the right tools, consistent effort and informed decisions. At The Bank of Missouri, we believe in empowering our customers with the best tools and strategies to reach their goals. No matter where your journey takes you, we're here to support you every step of the way. Stop by one of our branches to learn more about the ways we can help you Live well, Bank well.