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Top 9 Life Planning Tips

Creating a plan for your finances is an ongoing process, but keep in mind these Top 9 Life Planning Tips to help you have a successful financial future:

1) Set financial goals. Would you like to own a house or pay down debt? Create a list of goals—like reducing your debt, increasing your investments, saving more money and planning for large purchases.

2) Follow a budget. Take a good look at your net monthly income and your set and variable expenses. If there are areas to cut back, creating a budget will help.

3) Build credit. Credit cards can be a blessing or a curse. If you are building your credit, pay off your balance each month, shop around for the best interest rate and rewards program and never, NEVER miss a payment.

4) Save money. Whether clipping coupons, searching for discounts or cutting back on morning coffee—put money aside for emergencies. Experts suggest saving at least six months of expenses in the event you lose your job or cannot work.

5) Protect yourself. Insurance policies for home, health, automobiles and personal or professional assets are designed specifically to protect you in case of an emergency.

6) Plan for your future. Aside from saving for emergencies or big purchases, set aside money for retirement. If your employer has a retirement plan, contribute each month.

7) Own your home. Home ownership is a long-term investment that over time will leave you with a high-value asset. Experts suggest staying in a home for at least five years. Consider taking the leap if you plan on staying put, have money saved for a down payment and a steady income.

8) Draft a will. Although it may be an uncomfortable conversation, it is important to ensure your family and financial goals are met after you’re gone. Unfortunately, a study reveals 64 percent of Americans do not have an estate plan in place.

9) Pay off debt. Debt comes in different forms—from student loans and credit cards to mortgage and hospital bills. Making your payments on time, paying more than the minimum balance and paying off the more expensive debt first are popular tips to consider when paying off debt.

Busey is committed to helping customers handle their hard-earned money responsibly. Visit any Busey location or call 1.800.67 | Busey to get started and secure your financial future today!

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With five lines of business—personal, mortgage, commercial, cash management and wealth management—working together as One Busey, we can meet all your financial needs with confidence. Customers who partner with us are rewarded with the Busey Advantage—regional capabilities and local priorities. It's a commitment that has stood the test of time.

On the personal side, Busey Bank promises to make your banking hassle free with smart personal checking and savings accounts, convenient online banking and mobile banking solutions and consumer loans. Whether you are ready to buy your first home or simply want to refinance the one you currently own, our practical home mortgages, participation in a wide range of special loan programs and in-house mortgage expertise mean your home loan is tailored to your individual needs.

From opening your first business checking account or loan to creating a strong succession plan, Busey can help you manage your growing business. Our business banking, lending and cash management solutions give you the tools you need to keep your business successful and nimble. Our participation in a wide variety of specialized programs and in-house credit expertise allow us to tailor commercial lending packages to your unique situation and make faster credit decisions. Busey knows that cash flow is the lifeblood of a business—whether you need help with receivables, payables, liquidity, fraud protection or information reporting, we can customize your cash management solution to your growing business' needs.

You've earned it. We'll grow it. Busey Wealth Management provides asset management, investment and fiduciary services to individuals, businesses and foundations. We build a team of local professionals around your needs to establish the best strategy for your situation. We work closely with you to develop a personal, comprehensive plan that will help you meet your goals and objectives through each phase of the wealth management process.

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