New Year, New Financial Plan
There’s a good chance that many or all of your resolutions you made in 2021 didn’t pan out due to the ongoing pandemic. Of course, it’s hard during any year to achieve resolutions, such as resolving to save money, exercise more, and eat healthier. At least last year, there was a good excuse.
But if the pandemic taught us one thing, it was awakening us to our bad financial behaviors.
If you want 2022 to be the year of reaching your financial goals, let us help you work towards them with the help of Personal Finance.
Create a budget - but don’t forget it.
Aim to focus on a weekly budget rather than a monthly one. With Personal Finance, you can set up a budget using categories and adding spending amounts to each. This tool has your projected income minus your budgeted expenses and will tell you how much you have remaining. In just a few short steps, you can create a meaningful budget that will help you achieve your savings goals!
While it’s important to set a budget, it’s vital to return to it and study it. Set aside Sundays (or any day of the week) to spend a few minutes to pay any bills, check accounts, assess what you spent last week, and allocate money for the upcoming week.
Make a plan to achieve your goals.
Many financial resolutions fall apart because you set yourself a goal, but without a plan on how to achieve it. When it comes to financial goals, be specific and create tangible guidelines, like spending $25 less on takeout each month, or reduce your entertainment costs by a specific percent.
Automate your bills.
Paying your bills on time will not only keep your credit score healthy, but it will also save you money from late fees. Try setting up your bills with autopay on Online Banking so that you can “set and forget” those bills and never miss a payment again.
Audit your finances.
While looking at your weekly and monthly expenses, examine where your money is going. Don’t forget to look at:
- Streaming services. Are there a few that you’re not using often?
- Groceries. Do you throw out a lot of expired food? Try purchasing smaller packages. Or if you tend to order takeout, it might be cheaper to start planning meals at home and going to the grocery store more often.
While all of these tips can help, it’s important to check back regularly and adjust your budget and goals accordingly. By doing this regularly, you’ll stay more organized and less stressed throughout the year.
As always, our Branch and Customer Care Teams are skilled and ready to assist you. We have empowered our staff to support your specific needs. Should you have questions regarding your account, online resources, or are experiencing a financial difficulty, contact a Branch or our Customer Care Team at 518.730.3000 for assistance.
The material provided on this website is intended for informational purposes only. Links to other web sites are provided for reference and do not constitute a referral or endorsement by Pioneer or its affiliates. Please note that such material is not updated regularly and that some of the information may not be current. It is recommended that you consult with a financial professional for assistance regarding the information contained herein.