Author: Terry Severson, Director of Marketing, First National Bank
September is National Preparedness Month, and here at the Enable Savings Plan Alabama we are doing our part to help ensure you are prepared when it comes to your finances. Read on for our favorite tips to help keep you accountable and set you up for financial success in the long term.
1. Track Your Finances
Keep secure copies of important financial documents on hand. Make sure that you save receipts and, when possible, request electronic copies for easier safekeeping. Review and examine your spending habits on a regular basis to revise your budget accordingly. Could you be spending less and saving more? The best way to stay on top of your finances and build your savings is to stay organized and stick to a smart savings strategy.
2. Protect Your Information
Protect yourself and your finances by updating your passwords regularly, and try to avoid using public devices to check any personal accounts. Always review your financial statements to ensure they are accurate and the transactions are legitimate so that you can account for all activity your account may show.
3. Set Up Automatic Contributions
To build a consistent safety net of savings, set up the Automatic Investment Plan (AIP) to send contributions to your Enable Alabama account directly from your personal checking or bank savings account. With AIP, you can establish recurring account contributions so that you can focus on the myriad other commitments, priorities and events you have going on.
4. Do Your Research
While there are plenty of free resources that can help you stay informed about your finances, including websites, blogs and apps, it’s important that you seek out information only from reputable sources. Ask around to your local disability community organizations about offerings and resources they recommend or may be able to provide.
What are your best tips for financial preparedness? We’d love to hear from you! Engage with us at (@EnableSavingsPlanAlabama) on Facebook to share any applications or resources that can help the Enable Alabama community stay prepared for whatever comes their way.