The sun is shining a little brighter, the birds are chirping a little louder, and the days are officially a little longer. That means it’s time for spring cleaning and a fresh start. While you’re cleaning your home, don’t forget to dust off and refresh your financial plans.
Traditionally, this is best time to clean out your closets and reorganize your storage. It’s also the ideal time to set yourself up for financial success. Here are a few ways to complete a thorough financial spring cleaning:
1) Automate Your Bills.
It’s always easier to ensure your cash is flowing where it should with automatic payments and transfers set up. MAX Online Banking and MAX Mobile Banking makes this easy. And MAX Bill Pay can help you pay your bills on time.
2) Automate Your Savings.
You can build your savings by having money taken out before you really see it. Use your MAX savings account to stash away the cash. If you really want to limit your temptations to dive into your savings, you can put the money away in a MAX club account. The funds in your MAX club accounts are not accessible from an ATM, but you can make transfers to your MAX checking account as needed with MAX Online Banking or MAX Mobile Banking.If you need more layers of protection and you know you won’t need a portion of your savings anytime soon, consider opening a MAX certificate account. A MAX certificate account is a great way to earn extra cash while you save.
3) Go Paperless, and Shred The Papers You Don't Need.
Close your eyes. Now imagine that file cabinet, or storage box, or random drawer in your kitchen completely empty of the useless paper stuffed into it. Can you see it? Imagine filing your taxes without the need to dig through piles of paper. Can you feel the weight lifting off your shoulders? Can you feel stress escaping your pores? Let it flow through you.
This fantasy can become reality. Sign up for MAX eStatements. MAX eStatements are electronic versions of your paper statements. eStatements are accessible to you only by a username and password, which helps safeguard your account information. One fewer paper statement in your mailbox means a lower risk of identity theft. MAX eStatements are presented in PDF format, so you can print hard copies of your banking statements. The MAX eStatement system stores up to 24 months of statement history, making it easy for you to retrieve past account information.
And just in time for spring cleaning, MAX is hosting an on-site residential document destruction event in an effort to help consumers prevent identity theft. The free event will be held on Friday, April 21, 2017 from 7 a.m. to 1 p.m. in the south parking lot of Garrett Coliseum at 1555 Federal Drive in Montgomery.
4) Review Your Financial New Year’s Resolutions.
You may have fallen off the wagon just a bit, but now is the perfect time to jump back on board. Review your savings goals and your financial calendar. It’s not too late to impact your year. If your first drafted budget was too tight or unrealistic, look at making adjustments so you can stick to it throughout the rest of the year.
5) Refresh and Reward.
You may find wanting to refresh a room with fresh paint or new furniture and décor. You can throw away a lot of cash by sticking with a credit card that requires you to pay outrageous annual fees, or doesn’t let you benefit from its perks in the way you chose. You also throw away cash every time you don’t pay off the balance each month. If you utilize a credit card for purchases, find a card that rewards you for utilizing it. Also, ensure that the rewards or points can be redeemed for things you find useful. There’s no point in having a million miles to travel the world if you hate flying. The MAX Smart Rewards VISA® may be the card you need. The card has no annual fees and flexibility to redeem your points how you choose. You can redeem points for merchandise, travel, or even cash. The MAX Smart Rewards redemption site lets you get a peek at some of the amazing rewards your points can get you.
6) Remodel The Smart Way.
Spring can also bring an appetite for large home improvement projects. Whether you want to repave your driveway or build a new deck out back, borrowing against your home's equity is an easy way to use the investment you've already made to access funds for large expenses. Unlike a mortgage loan, which gives you a certain amount of money all at once, a HELOC* is a loan set up as a revolving line of credit and has a maximum “draw,” meaning you can take money from your HELOC, as little or as much as you like (up to the maximum), at any time during the HELOC’s “draw” period. How much you money you can access, called the limit of your draw, is determined by the current equity you have in your house and your credit history. You can learn more about HELOC’s by reading this helpful article.
7) Spring Your Wallet Into The Present.
You can literally clean out your purse or pockets by taking advantage of MAX’s digital wallet offerings. Yes, there is an easier way to carry your cards. A mobile or digital wallet is a way to carry your credit card or debit card information in a digital form on your mobile device. Instead of using your physical plastic card to make purchases, you can pay with your smartphone, tablet, or smartwatch. MAX debit and credit cards are available for use on all the top digital wallet services – including Apple Pay, Samsung Pay, and Android Pay.
*Alabama properties only. Good for qualified borrowers. Certain restrictions apply. Equal Housing Lender.