1-815-468-BANK (2265) Facebook Twitter LinkedIn Instagram
All Loan Services
All Checking Accounts
All Savings Accounts
All Online Tools
All Business Checking Accounts
All Business Solutions
By now, most people have made their resolutions for self-improvement in the New Year. While the most popular resolutions tend to focus on physical health, the start of a new year is also a perfect time to prioritize your financial wellness.
Ready to get started? Read on.
1. Make a Budget and Stick To It
Budgeting is one of most effective ways to manage your money. Creating and monitoring a budget allows you to track your expenses, adapt to changes, and achieve your financial milestones. Budgeting can also help you save for emergencies and plan for the long run - including retirement.
Use our online budget building tool to break your budget down into simple, easy steps.
2. Build Your Emergency Savings
Unexpected expenses happen more often than we like to think. According to a 2018 Bankrate study, more than half of Americans are not financially prepared to cover the costs that come with emergencies, such as illness, job loss, or even home and auto repairs.
Get more information on the immediate steps you can take this year to start and grow your savings.
3. Plan for Your Retirement Now
Less than half of Americans take the steps needed to set themselves up for a secure retirement. While saving for the future is easy to put off in favor of more immediate needs, the earlier you start, the more opportunity you’ll have to grow your savings over time.
There’s no better time than now to start planning for retirement. Learn about options, like IRAs and 401(k) plans, with our free retirement education.
4. Get Ahead of Your Taxes
Taxes are confusing, and many people get bogged down by complex terms and lengthy paperwork. However, your taxes don’t need to be a source of anxiety. In fact, getting ahead of your taxes can reap many benefits, including lowering stress and having early access to a refund for year-long planning.
5. Take Control of Your Credit
Your credit score can have significant impacts on your financial security and flexibility. Many people have never had the opportunity to learn what a credit score is, what factors impact a credit score, and what actions they can take to make sure their score is healthy.
Take a few minutes to understand the factors that impact your credit score and you’ll be well on your way to building a more secure financial future.
Information presented in the HomeStar Resource Center is provided for educational purposes only. HomeStar Bank & Financial Services makes no representations as to the accuracy, completeness, or specific suitability of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. HomeStar recommends you consult a professional for any specific guidance you are seeking.
This article was developed as part of HomeStar’s partnership with EVERFI, Inc.
Speedbump Modal Called Incorrectly!