Have you kept your resolutions for the year thus far?
The motivation to keep promises we've made to ourselves to eat better, be kinder and make other self-improving adjustments to our lives in 2018 can quickly fade.
Getting a firm grip on our finances is one of the most important resolutions any of us can make. Commit to doing these things this year, and you'll be more financially secure for many years to come.
This is a classic resolution that many of us make every year. Yet, how many of us actually end up keeping it?
Even money that makes it to a savings account comes right back out when we see something "we need." Restricting your access to savings funds can help you follow through.
Consider a MAX Certificate Account. It "locks in" your money for terms that range from 90 days to 30 months. Bonus: These accounts have higher interest rates than other savings accounts.
Pay Down Debt.
If you swiped your credit card so many times it almost melted while buying holiday gifts, make a commitment to pay off those purchases as fast as you can.
Allowing interest to pile up on top of your balance can undo your other financial resolutions. Figure out the highest amount you can pay each month, and do it. Try not to put any new charges on the card with the highest balance, so you can pay it down quickly.
Identifying other places to cut spending will also help. Check out your bills. Do you really watch all those premium channels? Are you using all the minutes or data on your mobile phone plan or could you stay within a lower-priced plan?
Re-Check & Reset Your Investment Goals.
As your age and your lifestyle change, so should your investment goals. Do an annual "check up" with your investment advisor to make sure your portfolio is still on track with your current needs.
Don't have an investment advisor? MAX Wealth Management can help you develop an investment strategy.
Start a "Rainy Day" Fund.
Isn't it nice to have a little something extra when an unexpected expense pops up? You never know when you may need extra cash for unforeseen automobile maintenance, an emergency home repair, or an unanticipated medical bill. It's best to be prepared for the unexpected. Building a savings account for a "rainy day" will provide you with ease of mind if an abrupt expense arises out the blue.
Perhaps you would like to save for something pleasant, like a dream vacation? Whether you want to set aside emergency funds or "fun" funds, MAX's Club Accounts make it easy to save for specific purposes. You can have up to eight distinct Club Accounts open at a time.
Use a Checking Account that Fits Your Lifestyle.
Finding a checking account that fits your lifestyle is imperative to financial success. The most important aspect of choosing the right checking account is finding the right financial institution. Make a list of important features you desire from your financial institution, and then make a list of checking account features that are important to you as well.
Secondly, keep your money managing tendencies in mind. Consider your banking habits and behaviors and try to match them with an account that has the features you need. What type of checking account best fits your money management style?
Whether you are a retired hobbyists, an active professional, or a successful student, MAX offers great checking account options for every lifestyle. You can find smarter account options at MAX, like our Achieve checking account, which makes your money work for you.
An IRA is an integral part of your financial life, and there’s no reason for confusion. We want to assist you in your retirement planning. To be eligible for any IRA, you must have earned income.
MAX offers a variety of IRAs perfect for long-term financial planning, including Traditional, Roth and Educational Savings Accounts (ESAs). Individual Retirement Accounts also provide opportunities to save on your income taxes. Depending on current tax laws, all or part of your annual contributions to an IRA may be deferred. With a Traditional or Roth IRA from MAX, you can save for the future. The Traditional IRA is easy to maintain and may offer you important tax advantages, such as deductible contributions and tax-deferred earnings. Earnings from a Roth IRA that are distributed in a qualified manner are not subject to federal income tax, offering certain benefits for beginning your retirement early. Consult your tax advisor for more information.
To make good decisions when it comes to your finances, you need to really know where your money is located, track what you are spending versus saving and be able to do this quickly and easily.