First Bank of the Lake: Financial New Year's Resolution Ideas for 2020

2020 is right around the corner! Have you thought about what you may do differently financially in the New Year? Perhaps you will pay off your debt or at least start a real plan to pay off your debt. Maybe you will meet a savings goal for an end of year vacation you've been dreaming about. Whatever your financial goal for the New Year may be, you should take a look at the savings products at our bank in Osage Beach. They can be very helpful in reaching savings goals in particular. Learn more and visit the First Bank of the Lake website at www.FirstBankLake.com. To reach our Lake of the Ozarks bank, call (573) 348-2265. In the meantime, keep reading for a few ideas for making financial New Year's resolutions.

Financial New Year's Resolution Ideas for 2020

To pay off student loans.
So many people are in debt due to student loans. Having that debt can really weigh you down and affect your credit negatively if you don't have a steady plan for paying it off. If you are struggling to at least pay the minimum payment each month, take a hard look at what you spend money on. Are you going to the coffee shop for your coffee each day? Are you shopping for new clothes when your old clothes are still fine to wear? Cut back on unnecessary spending in the new year so you put that money toward paying off student loan debt.

To pay off credit card debt.
It can be very easy to spend money when you using a credit card because you can get into the habit of feeling like that money is yours but it's not, it's the credit card company's, meaning you have to pay it back. The point here is to not "bite off more than you chew," so to speak. Don't use your credit card on something you can't afford to pay back, be responsible with your credit.

To save for a vacation.
Everyone deserves a vacation and it can be healthy for you to give yourself the time off, but few people can likely afford to take a vacation whenever they want. Take one at the end of the year and save up money each month so when it comes time to pay for your vacation, you aren't making such a costly decision. You are using money that you have saved for this particular reason.

Meet Your Financial New Year Resolutions with First Bank of the Lake!

Did you know you can build your savings automatically? Learn how and check out the Free Kasasa Saver® at First Bank of the Lake. Learn more and visit our website at www.FirstBankLake.com. If you have any questions, please do not hesitate to call our friendly staff today at (573) 348-2265.

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