Building Financial Health in 2025

Happy New Year from Community Bank! With any new year comes new year resolutions! Maybe your new year’s resolution is to lose some of those extra holiday pounds, or maybe it’s to purchase your first home! Maybe, your resolution is to save enough money to take the vacation you’ve always dreamed of! While Community Bank may not be able to help with the extra cookies you may have eaten over the holidays, we are here to provide you with knowledge on how to improve your financial health!

As with any resolution, you have to start somewhere! The first step to creating a financial resolution is to review your current income, debts, expenses, and existing savings. This assessment will provide you the necessary information to set realistic financial goals. Focus on setting specific and achievable goals. It’s also important that your goals align with your financial priorities.

Next, create a budget! Monitor your spending to identify areas to cut back and reallocate funds. This can be as simple as limiting going out to eat or cancelling a subscription for an unused service. Making minor adjustments can make a large impact on your finances! In addition, you will want to factor in expenses which includes groceries, housing, gas, etc.…while also trying to make a regular contribution into a savings account. Whether it’s for an emergency, an upcoming vacation, or to save for your child’s college education it’s great to get into the habit of saving!

Lastly, track your progress. This step will be crucial in determining if your financial goal is producing results or if adjustments may still be needed. Also, it will keep you motivated to continue and be well on your way to better financial health!

Community Bank is here to help get you on the right track! For questions on available products or services, contact your local branch.