New Year, New Budget
A savings account that automates your goals! Read the article, and then try our budget calculator to help you get started. Image from acultivatednest.com.
Did one of your New Year’s resolutions include getting a handle on your family or personal finances? Are you trying to figure out how to save for this year’s minor and major expenses?
Having a plan to meet your savings goals can have a positive effect in other areas of your life. Studies show reducing financial stress can give you a more positive outlook in general, allowing you to approach goals (fitness, healthy eating, etc.) with more enthusiasm. It’s amazing to think that focusing on just one goal can deliver a domino effect for several!
The Bellwether approach to budgeting
Setting up a financial plan and budget for your family can be daunting. In many cases, the plan lives on a computer spreadsheet, but the tracking part stays in bank statements. When you spend or save money, you have to transfer the information from your statement to your spreadsheet or budgeting software. Not bad, but still a time commitment.
We wanted our members to have a simpler way of creating and maintaining a budget that works as hard as they do to achieve their savings goals, with less of an ongoing time commitment. That’s why we created BudgetSaver24.
Auto-budgeting with BudgetSaver24
BudgetSaver24 is a savings account that automates your savings goals. With minimal set-up, it lets you set aside money on a regular basis according to your budgeting plan. Here’s how budgeting using BudgetSaver24 works:
- Review your weekly, monthly and annual expenses; these would typically stay in your checking account to be paid as they occur. Try our Budget Calculator.
- Determine up to five savings goals you want to achieve for the year.
- Visit Bellwether to set up your BudgetSaver24 savings account folders—one for each of the five goals you determine.
- Set up automatic transfers to each folder. These transfers can be one-time or recurring, and can have different frequencies, such as weekly, bi-monthly or annually. (Note: There are some limitations on the number of transfers you can make in a month for any one account. Your Bellwether team can help you set up additional savings accounts if your situation needs it.)
- As you achieve your savings goals, edit your transfers to move surplus savings to one of your other goal folders. By the end of the year you’ll have hit your goals, and established a new, financially healthy habit.
Budgeting and saving with BudgetSaver24 can bring you closer to your financial resolutions!
Start budgeting today
Savings folders and automatic transfers make reaching your 2015 savings goal simple and stress-free.
Contact us to get your BudgetSaver24 savings account set up and working for you. Call us at 603-645-8181 or visit our webpage to find our nearest location.
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