Kelly Community will be closed Monday, May 27 in honor of Memorial Day. Our digital services are open even when our locations are not. 

“May we never forget our fallen comrades. Freedom isn’t free.” – Sgt. Major Bill Paxton

January 4, 2024

Five Financial Habits to Start 2024

Happy New Year! Do you have any money-related resolutions on your list for 2024? Here are five habits you can start now that may help you achieve them!


Start or Refresh Your Budget
If you’re the person who thinks budgets limit your spending, reframe your thinking. Budgets help you compartmentalize your spending so you know where your money is being spent and you can make better decisions. Divide your spending like this: 50% of your income for essential expenses, 30% of your income for nonessential expenses and 20% of your income for savings.


Start an Emergency Fund (or evaluate the one you have)
If you don’t have one, start by building it with whatever money you can $20 a paycheck even (although more would be better). Ideally, you should have enough in this fund to cover your family’s living expenses for three to six months. This includes rent or mortgage. If you can, contribute 10% of your paycheck to this fund until it gets to that point.


Review your retirement savings
Are you setting aside enough for retirement? If you can afford to set aside more, it will only benefit you in your retirement years, especially as costs rise. Check with a financial advisor for the best advice.


Review Your credit reports
Put yourself on a schedule to review your credit report for free each month. Reviewing it regularly helps you find fraudulent accounts opened in your name, which could mean someone stole your identity. You can actually get a free credit report weekly at no cost if you want it.


Start Getting Your Tax Documents Together
What have you spent money on this year that may be deductible on your 2023 tax return? Start gathering receipts for medical expenses, dental expenses, property taxes, mortgage interest, student loan interest and donations to charity. Home improvements may also be deductible. Check with a tax advisor.


At Kelly Community, we’re not just your financial institution. We treat you like family and are genuinely interested in your financial success. Please let us know how we can help you.

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