Financial Habits for the New Year

Most New Years' resolutions fail because they don't become habits. Here are a few financial habits to establish this year to stay on top of your finances all year long.

Daily Habits

  • Check mobile/online banking. Logging in to mobile or online banking is a great daily financial habit. Take time to review your daily spending, monitor balances, and check for unauthorized charges. Set a phone reminder to log in at a set time each day to get into the habit.

  • Round Up your savings. Transfer a small daily amount from your checking into your savings each day when you check your balances. A $5 daily transfer ends up being $150 a month and $1,825 a year into your savings!
    • You can also round each purchase up with Cornerstone's Round-Up Rewards program. We even match 5% each month, up to $200 a year.

Monthly Habits

  • Plan for upcoming irregular expenses. A milestone birthday, a cousin's baby shower, a child's school trip, etc. Look at the upcoming month to anticipate irregular or seasonal costs, and set aside money to cover them.
  • Look backward to plan forward. Review last month's spending and see where adjustments need to be made. Lots of takeout last month? Make a plan to meal prep more for dinners this month.  

Yearly Habits

  • Check your credit report. Review your credit report for free once a year at AnnualCreditReport.com. Check for incorrect addresses or misreported debts that could be impacting your score.
  • Reassess financial goals. Revisit short- and long-term financial goals to ensure they align with any changes in your circumstances or priorities.