The start of a new year is a fantastic time to consider your financial goals — especially when it comes to how you can start saving money, so you have more in your bank account. The good news is that building up your savings isn’t as complex as you might think. By implementing a few smart habits, you can keep more money in your pocket.

How to Save More in Your Bank Account

1. Cut Out Unnecessary Subscriptions

Today’s households pay more for subscription services than ever. There are video streaming services like Netflix® and Hulu®, “free shipping” with Amazon Prime®, subscription boxes for household products, and gym memberships. In reality, you can do without many of these items. Start by canceling accounts that you rarely use. This will put more money in your pocket each month.

2. Pay Off Credit Cards

Credit cards may be convenient, but their high interest rates can be hard to overcome if you don’t pay off your card each month. Make a commitment to pay off your credit card in full each month to avoid costly interest payments. If you have excessive credit card debt, focus on paying down your debt first, as this will actually deliver greater long-term benefits than putting that extra money in a savings account.

3. Commit to Saving a Specific Amount Each Month

It’s a lot easier to save when you have a concrete goal you are working toward. Set a specific amount that you will put into savings each month. A good rule of thumb is to save at least 10% to 20% of your paycheck, so you can build an emergency savings account to cover unexpected expenses.

Whether you wish to open a checking account or are seeking SBA loans, you can trust Magnolia Bank. With locations in Hodgenville, Magnolia, and Elizabethtown, KY, this bank recently celebrated its 100-year milestone, built on a legacy of honest, courteous service and innovative banking products. To learn more about what this bank has to offer, visit them online or call (270) 358-3183.