Watch CBS News

Why Personal Banking Should Matter To You

You may think that your bank is simply where you secure your money so you can pay bills and make purchases as you see fit. However, there is so much more to banking, and you really should take a look at all the different services and features that your bank offers. You might be amazed when you see just how many ways your bank can help you set yourself up for a great future. The bottom line is that banking matters, and here are a few reasons why.

Helping You Plan For The Future

Banking matters because it’s truly the best way to help you plan for a brighter future. You select your bank with many reasons in mind: low monthly fees, ATM access, mobile banking and easy bill pay are just a few examples of reasons you've chosen your bank. However, you may not realize that every one of those benefits, along with the hundreds more offered by your local banking institution, all go towards helping you plan for your future. If you have dreams of owning a home or sending your children to college, or any of those important life-long goals, your bank is part of that equation.

Budgeting

Like it or not, budgeting is a big part of planning for the future, and your bank can do a lot to help you with your monthly budget. Most banks offer in-depth analysis of your monthly spending habits. You can find out if you’ve constantly got a negative cash flow, or if you’re spending more money then you’re taking in. You can also see trends to check if you’re overspending on entertainment, or find options to cut back some of your spending. All of these benefits are available through your bank, usually through the online banking platform.

Learn To Maximize Money

When you enroll with a bank, you get the option to work with a personal banking expert, which means you then get the option of having an outside expert look at your entire financial picture to help you find opportunities you may not have thought of. Many banks offer services like financial planning, which can help you find ways to invest your money to build for the future. Or, if you don’t have the option of financial planning at your bank, you will still have help with savings plans, and your banker can help you determine which savings plan will yield the best results for you long-term.

Deborah Flomberg is a theater professional, freelance writer and Denver native. Her work can be found at Examiner.com.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.