New Year, New Finances

If time has taught us anything, it's that we need to be prepared for financial ups and downs. As we get ready to move into the new year, take time to put a financial plan in place so you are better prepared for the future.

If you don't have an emergency fund, it’s a great time to get one started. Set a goal like putting away $500. This amount will typically cover you if your car breaks down or your dental coverage doesn't pay for that broken tooth. If it's difficult getting started, put aside $10 to $20 each paycheck and you'll hit your goal within a year. You can also use direct deposit or set up a recurring automatic transfer into your savings so you'll be less tempted to spend rather than save.

Patience is a virtue, especially when it comes to buying big-ticket items. Is the newest smartphone on your wish list? Dedicate yourself to cutting back on other extravagances (dining out, new clothes, subscription service, etc.) and put that money aside.

It might be time for you to consider putting money into a Savings Certificate. We offer competitive savings rates that won’t change over the duration of your Certificate and have terms ranging from 6 months to 5 years. Plus, your funds are insured up to $250,000. $500.