She Strengthens

Smart Savings Tips from Real Women: Taking Control of Your Finances

This summer, we’re teaming up with M&T Bank to bring you a series of smart savings tips from real women who have been in your shoes. We believe that advice from someone who has walked the walk is far more relatable and memorable than a dry list of money tips.

The Importance of Getting Your Financial Life Together

Becoming a fully functioning adult requires taking responsibility for your finances. It’s not something that happens overnight, but rather through intentional habits and decisions. Looking back, there are several financial habits I wish I had adopted sooner.

5 Life-Changing Financial Habits to Adopt Today

1. Harnessing the Power of Credit Cards with Rewards Points

I used to think avoiding debt at all costs was the key to financial stability. However, I soon realized that using a credit card with rewards points could actually help me build good credit and earn benefits. By paying off my balance in full each month, I’ve been able to take advantage of airline miles and enjoy vacations and trips home.

2. Keeping a Low Balance in Your Checking Account

Keeping a low balance in your checking account can help you avoid unnecessary spending and earn interest on your savings. Consider dividing your cash into a high-yield savings account and an investment account to maximize your returns.

3. Paying Taxes ASAP

As a freelancer, tax season can be stressful. But by keeping track of my income and filing my taxes promptly, I’ve been able to avoid uncertainty and even earn a refund. Consider hiring an accountant to help you navigate complex tax situations.

4. Creating Auto Transfers to Savings

Setting up automatic transfers to your savings account can help you build an emergency fund or reach other financial goals. By prioritizing savings, you can avoid anxiety and take control of your finances.

5. Tracking Daily Spending

Tracking my daily spending has been instrumental in understanding where my money goes. By monitoring my income and expenses, I’ve been able to identify areas for improvement and create a daily budget that works for me.

Take the First Step Towards Financial Freedom

To learn more about how M&T can help you reach your savings goals, visit their website or a branch near you. With their personalized approach to banking, you can take control of your finances and achieve your dreams.