4 digital banking tools to help you stick to your New Year's financial resolutions

  • February 15, 2021

If you struggle to stick to your financial resolutions in the new year, you’re not alone. By February each year, many people have given up on their money goals and settled back into their old habits.

We understand. Building a sizable emergency fund, paying off debt, or saving for a special purchase can take more than time, patience, and discipline. Having systems that support your goals can help.

Fortunately, The Bank of Missouri has four digital banking tools that can help you stay on track or reboot your financial resolutions this year.

Mobile check deposit

Saving money is easier when you avoid unnecessary account fees for insufficient funds. But bad weather or a busy schedule can prevent you from making it to a branch location in time to deposit checks to cover upcoming transactions. Ensure funds make it into your account quickly by using Mobile Check Deposit. Use an iPhone, iPad, or Android device to securely deposit checks from anywhere, 24/7. Download The Bank of Missouri Mobile app from Google Play® or the App Store® to get started.

Download on the App Store Get it on Google Play

Automatic bill payments

If you’re working to improve your credit score, you’ll want to make sure your bill payments are always received by the due date. Payment activity can influence your credit health the most. Late payments to creditors can lower your credit score and cost you even more with account penalties and fees. Schedule your recurring payments automatically with BillPay to ensure bills are paid on time, every time.

Account alerts

Overspending is easy when you don’t know your account balance. With mobile and online banking, you can set account alerts so you’ll be notified via text message when your balance falls below a pre-set amount.

In addition to alerts, it’s easy to check your account any time. Use The Bank of Missouri’s mobile app to check balances, see recent transactions and more. Log in with your fingerprint or facial ID on supported devices for lightening quick access.

Enhanced debit cards

Using cash to pay for expenses might help you spend less. Several studies have shown that there’s a psychological benefit to carrying cash to pay for purchases. You’re more likely to spend less when you see cash leave your hands and recognize how little you have left after each transaction. While using cash as your main payment method can help limit your willingness to depart with your hard-earned money, it can also be risky. If the cash is lost or stolen, recovery is unlikely.

The good news is that you no longer have to carry cash to rein in spending. It’s possible to keep the benefits of making cash payments by using a debit card with enhanced features. The Bank of Missouri allows you to set controls and alerts for your debit card. Set transaction spending limits and alerts, turn the card on or off, restrict usage based on location, and more right within the mobile and online banking experience.

You can achieve your financial goals this new year with the help of digital tools from The Bank of Missouri. These are only a few examples of how we can help you stick to your money resolutions. Learn more about these and other banking solutions by visiting our homepage.

Live Well, Bank Well