When celebrating an annual milestone such as a birthday, it often seems as though the prior year has flown by. Once again you may find yourself receiving gifts from loved ones celebrating your big day, but it is also time to think about giving a present to yourself. This year, give yourself the gift of financial peace of mind. Consider the tips below as you enter into the year ahead and make this your best year yet.
Tip #1: Save First, Spend Later
One common mistake many make is to save what’s left over from their paycheck after spending. A more prudent approach is to make payments on regular expenses (such as rent or mortgage, utilities, etc.), save a set amount of money with automatic transfers into a separate savings account and then budget what you can spend with what is left. One way to stay organized is through Ameris Bank’s personal finance tool which can help you track your spending, create a budget, keep an eye on debt and see of all your financial accounts in one place.
Tip #2: Set a Milestone for Yourself
Whether you want to make a dent into what is owed on your home or car, take the vacation you’ve always dreamed of or become free of credit card debt, use our personal finance tool to set a goal for yourself for next year. Make a plan, commit to action and when your next birthday rolls around, check your progress!
Tip #3: Keep Track of Your Retirement
Whether retirement is a lifetime away or around the corner, there are steps you should take to ensure you will live comfortably in your golden years. Useful tools, like online calculators can help you determine how much to save, or if you’re already in retirement, how much to spend.
No matter what your day has in store, Ameris Bank wishes you warmth and happiness as you celebrate another year around the sun!
Reviewed July 2023