Customer Education

When was the last time you had an established routine for saving money? The New Year is a perfect time to start thinking about your long-term financial stability and TexasBank is here to help! Here are some tips you can start today:

• First, open a savings account with TexasBank! Compare our savings account options on our website and then stop by the nearest location to speak with a New Accounts Representative about the best option for you.
• Create a budget and stick to it. Having a set budget is crucial to being able to save money. A budget will allow you to see where your money is going, help you decide how and where to spend, and where you may need to cut back. All of this can be seen in the budgeting tool inside Online banking! If you haven't already, enroll in Digital Banking today.
• Review your spending habits. Take advantage of TexasBank Digital Banking and scroll back through your transactions. Make a habit of checking your account every day to see exactly where you are possibly spending too much. Maybe you didn’t realize how often you grab coffee on the way to work or how many nights you pick up takeout instead of cooking at home. How about those subscriptions? Take note of exactly where every dollar is going.
• Get accustomed with the TexasBank Money Manager tool. Money Manager hosts your budgets, cashflow, net worth, transactions, and allows you to set financial goals. We are here to help and offer as many tools as we can.
• Turn off shopping app notifications to avoid being tempted to buy something you don’t need. Unsubscribe from sales texts and emails to avoid those “weekly deals” ads!
• Strategize your grocery shopping. Making a grocery list and sticking to it as best as possible is one great way to save money at the grocery store. Have you considered switching from brand-name to store-brand items? Take advantage of curbside shopping. If you order Online, you are less likely to pick up things you don’t need.
• Challenge yourself to a spending freeze. Make a list of the things you absolutely must spend- such as mortgage, bills, and groceries, and don’t stray from that list! January is a great time to reset from the holidays.
• Save or invest your tax refunds. If you are expecting a return this year, route it directly into your TexasBank savings account and don’t be tempted to spend it.

Sources

• https://www.bankrate.com/banking/savings/how-to-save-money/
• https://www.aba.com/advocacy/community-programs/consumer-resources/manage-your-money/7-tips-for-good-saving-habits?utm_source=twitter&utm_medium=org&utm_campaign=consumers&utm_content=spk