Bank of America has launched a series of practical tips to help their clients in the United States improve their financial habits. These recommendations aim to make daily saving easier and strengthen each user's personal finances.
Bank of America wants the best for their clients: simple gestures for everyday life
The banking institution suggests starting by recording all monthly expenses, from the smallest to the most significant. This allows clients to have a clear view of where their money goes and where they can cut back. In addition, it is recommended to set a budget that includes a specific category for savings, allocating between 15% and 20% of monthly income for this purpose.
To avoid impulse purchases, Bank of America advises waiting five minutes before confirming an online purchase. This simple habit can reduce unnecessary spending and contribute to the growth of savings.
Digital tools to encourage saving: nothing complicated, stay alert
Bank of America offers programs like Keep the Change®, which automatically rounds up purchases made with a debit card and transfers the difference to a savings account. In addition, the bank's mobile app allows clients to set up automatic transfers and personalized alerts to keep constant control over their personal finances.
The institution has developed the "Better Money Habits" platform, where users can access articles, videos, and guides on how to manage their money effectively. This resource is part of Bank of America's commitment to economic mobility and the financial education of their clients.
These are the benefits of following these tips
Adopting these financial habits can have a positive impact on clients' wallets. By keeping accounts active and regularly tracking transactions, clients avoid having their accounts considered inactive and transferred to the state, according to state escheatment laws.
Bank of America shows a strong commitment to their clients by providing tools and practical tips to improve financial health. By following these simple tips and paying attention to the bank's recommendations, clients can see their savings grow and strengthen their personal finances every day.