*First National Community Bank’s blog does not constitute legal, tax, accounting, investment or other professional advice. Recipients should consult their professional advisors for advice.
As the temperatures rise, days get longer, and vacations get underway, many of us find ourselves spending more this time of year—or discover that we have overspent our budget already. We understand how important it is to stay on track with your financial goals, especially as we hit the halfway point of the year. Whether you're enjoying a summer vacation, planning for back-to-school season, or simply trying to build a stronger financial future, we’re here to help you save smarter. We’ve outlined 6 ways to not only save, but also grow your money as we approach the middle of the year.
1. Do a Mid-Year Financial Checkup: Take a few minutes to check in on your financial goals and determine whether you are saving enough each month, if you are up-to-date on bills have incurred any unexpected expenses thus far this year and importantly, reviewing options to ensure you are earning more on your money.
Helpful Tool: Open a Free Checking account or Savings account with us to organize your money and separate your spending from your savings.
2. Take Advantage of Free Local Events: Skip the expensive outings and enjoy free community events this summer such as outdoor concerts, family movie nights, farmer’s markets, and festivals. It’s a great way to make memories without making a dent in your wallet, keeping you in check mid-year.
Bonus Tip: Use your First National Community Bank debit card from your Free Checking account to easily track summer spending.
3. Cut Energy Costs with Efficiency: Staying cool can get expensive, but a few simple changes can help such as using fans or blackout curtains, unplugging devices when not in use, turning lights off in rooms you are not in and cook outdoors to keep heat down inside the house. Plus, the money you save on your electric bill can be put into a FNCB Money Market account where you can earn a better rate while keeping funds accessible.
4. Plan Budget-Friendly Vacations or Staycations: Set a daily spending limit and use our mobile banking app to monitor balances, transfer funds, and stay secure wherever summer takes you while on vacation or choose fun local adventures instead. A few days off close to home can often be just as refreshing and far less costly than destinations requiring a plane ride.
5. Take Advantage of Mid-Year Sales: Retailers start marking down seasonal items in July, which is great news if you’re shopping for patio furniture, summer clothing, or school supplies. Buy ahead and stash items for next year at a discount.
Savings Strategy: Set aside “sale savings” into a Certificate of Deposit (CD) and lock in a great rate and give your money time to grow while you're planning ahead.
6. Start Planning for Back-to-School Costs: Avoid the August rush and start small now by watching for early discounts, and plan a budget. Even $20 a week set aside now can ease the back to school shopping burden later.
With proactive planning, you can ensure that your budget stays on track throughout the year while saving and growing your money. As your locally owned community bank of choice, the success of your financial future is top of mind. We offer Personal Checking Accounts, Money Market Accounts, Personal Savings Accounts, CDs, IRAs, Mortgages, Personal Loans, Personal Credit Cards, Business Credit Cards and Business Loans of all shapes and sizes.
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