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How do you start to improve your financial health? You could write your monthly budget down on some notebook paper. You could create a series of spreadsheets on your home computer. You could even hire a professional accountant to help you improve your budget and save more money.
Or, you could just use specialized financial health tools available for free within online + mobile banking. If you already have an account, you can access them right away by following the steps below. No account? No problem. Open one online today, fast.
For online banking users: Login to your account and go to the Financial Planning tab. Click on the link that says Wellness & Savings Goals.
For mobile banking users: Login to the app and tap the More button in the bottom-right corner. Tap on Financial Planning and then Wellness & Savings Goals.
Add and view accounts from other financial institutions
Your financial life doesn’t exist just within the confines of Arsenal Credit Union. You probably have checking accounts, savings and loans at a number of different outside financial institutions.
Taking care of your financial health means being able to see the complete picture. You can view any or all of your accounts in online + mobile banking. You’ll gain a deeper understanding of your financial health.
Plus, the more outside financial institutions you link to your Arsenal account, the more powerful the below tools will become to help improve your financial health.
Analyze your spending patterns
Where does all your money go each month? If you’ve never set up a budget, you may ask yourself this question quite often. The good news is that you can find answers and help improve your financial health within online + mobile banking. View and analyze your spending patterns in several ways:
Month-by-month: See how much you’re spending each month for the past year.
Categories: What type of purchases do you make the most? Gas? Food? Loans? See a breakdown in pie-chart form.
Transactions: What businesses do you spend most of your money at? See an itemized list similar to your online banking account.
Recurring expenses: See an estimated monthly total of your expenses based on the transactions you regularly make.
Set up savings goals
Stay on track and hit your goals faster. Connect your Arsenal savings account to the Savings Goals tab. You can select from a number of categories you want to save up for – a down payment for a car or house, enough to pay off a credit card, or even just a general savings goal.
Select the amount you want to save and your target date for hitting that goal. Set up as many savings goals as you’d like to keep. Once you hit your goal, you’ll receive an alert and be able to spend your money on what you want.
Take a financial health assessment
How do you think your overall financial health is doing? Take a quick assessment to find out. Answer a few survey questions and you’ll receive a score from the Financial Health Network FinHealth Score® Toolkit. The tool will tell you any next steps you should take to help improve your score.
If you need help setting up your digital financial health tools, feel free to reach out to us. Visit our contact page or start a live chat (bottom-right side of the screen) during normal business hours.
