Millennial Pocket
  • Home
  • About
  • Banking
  • Financial Banking
  • Forex
  • Contact Us
No Result
View All Result
  • Home
  • About
  • Banking
  • Financial Banking
  • Forex
  • Contact Us
No Result
View All Result
Millennial Pocket
No Result
View All Result
Home Banking

Financial Habits for Living Your Best Life

eoe86 by eoe86
August 10, 2022
in Banking
0
Financial Habits for Living Your Best Life
193
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

June 2, 2023
Work Anniversary Spotlight: Marie White

Work Anniversary Spotlight: Marie White

June 1, 2023

Graduates

Building good financial habits and practicing them often is how people achieve financial freedom. Financial planning is the practice of putting together a plan for your future, specifically around how you will manage your finances and prepare for all the potential costs and future for when issues may arise. This process of taking a comprehensive look at your financial situation and building a specific financial plan to reach your goals. Financial planning includes multiple areas of finance: investing, taxes, savings, retirement, your estate, insurance, and more. Using a budget will change your financial perspective.

According to research from Charles Schwab, only 33% of Americans have a written financial plan, making personal finance, the least adopted habit — by far — that is important to your long-term well-being and living your best life.

Having a financial plan has numerous concrete benefits:

Confidence: A written plan increases your confidence and reduces your stress. When you have a plan for how to use your money, you know what you need to do to live your best life.

Better habits: When you have a written financial plan, you develop better habits. People with a plan are much more likely to:

  • Save more
  • Invest appropriately
  • Have an emergency fund
  • Reduce banking and investment fees
  • Avoid credit card balances and have a good credit score
  • Pay bills on time
  • Re-balance portfolios and regularly update the financial plan

Improved outcomes:

The result of those financial habits? Better outcomes. If you have a financial plan, you are more likely to be able to achieve your retirement goals. You also will be prepared and less stressed during an emergency.

Written financial plans may be especially important for low- and moderate-income levels. Approximately one-third of low or moderate income households with a written financial plan save 10% more of their income, compared to only 1 in 10 households without a written plan.

One of the most common ways people pay themselves first is through a 401(K). Retirement funds you allocate to long-term savings can be invested through a myriad of professional money managers. Consistently over the long term, professional money managers have provided the best returns for retirement accounts. When preparing for retirement, consider talking to a financial professional to inquire about their services and get yourself on track to a well-funded retirement so you can live your best life into your next season.

Core Bank is proud to offer this free Financial Literacy Program where you’ll learn ways to best handle everyday financial events. You can also take control of your finances with our new Personal Finance Management Tool! Personal Finance is a free digital money management tool, integrated into online banking and our mobile app, helping you stay on top of your finances by aggregating all of your accounts in one place. With customized budgeting features, smart expense tracking, and mobile access, you can manage your finances easily and securely from anywhere.

 

 

The post Financial Habits for Living Your Best Life appeared first on Core Bank.

Share77Tweet48

Related Posts

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

by eoe86
June 2, 2023
0

In recognition of National Homeownership Month, Core Bank and the Independent Community Bankers of America (ICBA) are encouraging current and...

Work Anniversary Spotlight: Marie White

Work Anniversary Spotlight: Marie White

by eoe86
June 1, 2023
0

Marie White, Virtual Center Manager at Core Bank. Photo taken by Elizabeth Gatewood Photography. Employee Work Anniversary Spotlight: Marie White...

Resource Refresh

Resource Refresh

by eoe86
May 30, 2023
0

Resource Refresh! As many of us come upon the end of our fiscal year it’s a great time to refresh...

Military Appreciation Month

Military Appreciation Month

by eoe86
May 19, 2023
0

Military Appreciation Month is a time to honor the brave men and women of our armed forces and thank them...

National Women’s Health Week: Addressing Women’s Health Needs

National Women’s Health Week: Addressing Women’s Health Needs

by eoe86
May 15, 2023
0

Patient Financing & Access to Affordable Healthcare National Women’s Health Week, established in 1991, is an annual observance that aims...

Load More
  • Trending
  • Comments
  • Latest
Inclement Weather Update

Inclement Weather Update

September 26, 2022

Wire Fraud

September 7, 2022

Online Banking will be unavailable tonight from 8pm CT/9pm ET – 8:15pm CT/9:15pm ET for routine maintenance. We apologize for any inconvenience.

September 20, 2022
What is Economic Inclusion?

What is Economic Inclusion?

September 19, 2022
Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

0
Core Bank Breaks Ground on New Sarpy County Location

Core Bank Breaks Ground on New Sarpy County Location

0
How to be a Smart Holiday Shopper

How to be a Smart Holiday Shopper

0
Make Saving Part of Your Resolution

Make Saving Part of Your Resolution

0
Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

June 2, 2023
Work Anniversary Spotlight: Marie White

Work Anniversary Spotlight: Marie White

June 1, 2023

May 30, 2023
Resource Refresh

Resource Refresh

May 30, 2023

About

Investors aim to make money and build wealth over time through the practise of investing. There are a variety of ways to generate future income, and an investment can be defined as any of these methods.

Recent Post

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Core Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

June 2, 2023
Work Anniversary Spotlight: Marie White

Work Anniversary Spotlight: Marie White

June 1, 2023

Categories

  • Banking
  • Financial Banking
  • Forex
  • Home
  • About
  • Forex
  • Banking
  • Financial Banking
  • Contact Us
  • Privacy Policy
  • Terms And Conditions

Copyright@2022 All rights reserved by Millennial Pocket

No Result
View All Result
  • Home
  • About
  • Banking
  • Financial Banking
  • Forex
  • Contact Us

Copyright@2022 All rights reserved by Millennial Pocket

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.
SIGN UP FOR NEWSLETTER NOW