Achieve your financial goals with good money habits
Who doesn’t want more money in their pocket? By giving yourself a strong financial foundation, you can set yourself up for a lifetime of success. It all starts by developing good money habits. At Community Bank, we’re here to give you the tools and guidance to put your plan into action.
Setting SMART goals
College tuition. Summer vacation. Kitchen remodel. Holiday shopping. Whatever plans you have in life, setting SMART goals can help you take control of your finances. SMART goals are specific, measurable, achievable, relevant, and time-bound. This tried-and-true method defines what you want to achieve, how to achieve it, and in what time period—keeping you focused and productive. Here is a quick example of a long-term SMART goal:
- Specific: Save $45,000 for a child’s college tuition
- Measurable: Save $2,500 a year
- Achievable: Include this in a monthly budget and direct deposit the balance into a money market account
- Relevant: Commit to providing a child with the best opportunities for higher education
- Time-bound: 18 years for a newborn child
By setting up SMART goals, you can effectively plan for events in the long and short term, monitor your progress, and make any adjustments along the way to stay on track. Our team of experts is always available to help you plan for events like your children’s education, your retirement, and estate planning.
Budgeting for success
A budget can help you prioritize spending and savings, identify areas for improvement, and ensure you're living within your means while still saving for your goals. If you need help getting started, we have a Home Budgeting Calculator and other budgeting tools to assist in creating and maintaining a budget. Additionally, your Community Bank debit and credit cards can help you regularly track your income and expenses.
Using debit and credit cards
When you use your Community Bank debit card , your purchase amount will be automatically deducted from your checking account and listed on your monthly statement so you can easily track against your budget. You can even enroll in our free text alert service to help guard you against debit card fraud or receive balance information.
We also have different credit card options, so it’s easy to find one that fits your needs. Using it can help you build your credit score and earn rewards for regular expenses in your budget. Learn more about the card that’s right for you.
Setting up a savings account
Beyond your checking and credit accounts, savings accounts are a crucial component of good money habits. You can use your savings to build an emergency fund, help avoid going into debt from an unexpected expense, accumulate long-term wealth, save for a SMART goal, and learn financial discipline by holding onto your money instead of spending it.
At Community Bank, we offer a variety of savings accounts tailored to your individual needs. Additionally, you can automatically deposit funds into a money market account, IRA, or CD account. Each offers unique benefits, giving you flexible options to reach your goals. Use our savings calculator to see how much interest each type of account could earn over time.
Continuing your financial education
You’re never too young (or old) to improve your financial habits. Visit our Kids’ Corner online to learn how to set up your children for a strong, life-long financial journey. When they’re ready to take their first steps, our Carefree CheckingSM Account with a Visa® chip card is a convenient option to help them on their way. Beyond that, our Financial Literacy Hub is a valuable resource for anyone looking to expand their financial knowledge.
Sticking to your habits
Developing good money habits is a journey that requires commitment, education, and the right partner. By practicing responsible financial behavior, you’ll not only avoid debt, save for emergencies, and work towards your goals in life, you’ll also be taking control of your finances, reducing financial stress, and building a secure future. Start building good money habits today and unlock a brighter financial tomorrow.
We are committed to helping you make informed decisions and achieve financial success. If you have any questions or need assistance setting up any of these services, contact your local branch or our Customer Care Center at 1-866-764-8638.