Avoid Financial Fireworks With These Tips From M&I
Published on Wednesday, 27 June 2012 10:58 Written by TradersHuddle Staff
MINNEAPOLIS and ST. PAUL, Minn., June 27, 2012 /PRNewswire/ -- This Independence Day, families across the country will be celebrating with picnics, barbecues, and of course, fireworks. But few will be thinking about ways they can prepare for their future and avoid the financial fireworks that can wreak havoc on a pocketbook.
To help people manage their money and avoid the most common financial pitfalls, M&I, a part of BMO Financial Group has introduced an informational website – Helpful Steps at www.bmoharris.com/helpfulsteps.
"Education and planning can go a long way to creating a secure financial future," said Jim Sathre, M&I Senior Vice President. "We're here to help people build long-term financial strength, which in turn, will strengthen communities in the Twin Cities."
To get started on the path to success, Sathre offers some advice.
- Pay bills on time. Not paying bills on time is one of the most common mistakes – especially for young people – and the fees incurred can have long-lasting consequences, not to mention the negative impact on your credit score.
- Write a budget and stick to it. This is the guide to income vs. spending, and it can make or break an individual's financial standing. The budget should be updated and checked regularly, to ensure that spending is on target.
- Prepare for retirement. It's never too early to start saving for retirement – especially with the rising cost of health care. Take advantage of any employer-sponsored retirement plan, but if those aren't available, set up a 401(k) or IRA to auto-withdraw from your checking account each month.
- Avoid credit card debt, and know your interest rate. Interest rates have risen in recent years, which means that even small purchases can turn into large debts if not paid off immediately. Educate yourself on the terms of your card agreement and minimize spending to avoid debt wherever possible.
- Diversify your investment dollars. Working with a professional financial advisor will help provide the best strategies for you to reach your individual goals.
- Regularly monitor banking account activity. This will ensure you have a good understanding of where your money goes, how much you have in various accounts, and will also offer the opportunity to spot fraudulent activity.
About BMO Harris Bank
Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(sm) and M&I® are trade names used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.
SOURCE BMO Harris Bank
Related Partner Headlines
- Chris Wolf Joins BMO Harris Bank as Director of Asset Based Lending - Benzinga
- Top 4 Large-Cap Stocks In The Money Center Banks Industry With The Highest EPS - Benzinga
- UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Bank of Montreal - Benzinga
- Canadian Bank Earnings Season Off to a Strong Start (BNS, BMO, RY) - Benzinga
- UPDATE: Stifel Nicolaus Initiates Bank of Montreal at Hold on Slow EPS Growth Outlook - Benzinga
- Bank of Montreal Increases Dividend - Benzinga
- Adela Cepeda Appointed to BMO Board of Directors - Benzinga
- 4 Rock-Ribbed Canadian Bank Stocks - TheStreet.com
- BMO Capital Markets Reiterates Market Perform Rating, $59 PT for Bank of Montreal - Benzinga
- Bank Of Montreal Stock Hits New 52-Week Low (BMO) - TheStreet.com
Recent Trading Ideas
Chesapeake Energy Is Close to Resistance
Windstream Is Near its 50 Day Moving Average
Applied Materials Is Close to Resistance
E*TRADE is Near a Key Support Area
First Solar is Near a Key Support Area
Trading Idea: Is Monster Worldwide close to Support?
Trading Idea: - Is Walgreen close to Resistance?
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,303.10 Trade time:4:36PM EDT Value change:▲8.60 (0.06%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,649.60 Trade time:4:35PM EDT Value change:▼0.91 (-0.06%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,459.14 Trade time:5:15PM EDT Value change:▼0.28 (-0.01%)
In The Wires
Kenny Chesney Ticket Prices Slashed by TicketProcess.com; Tickets Still Available For The No Shoes Nation Tour
"Get Ready for Summer Sale" at Sublime Beauty® Continues: New Cellulite Whisperer® Products
Pratt & Whitney Rocketdyne Engines Boost Latest Communication Satellite into Orbit
Real Estate SEO Firm Announces Real Estate SEO Pros For Hire Programs
Company Now Offering Real Estate SEO Tips for Real Estate Professionals in All Markets
CRMnext Introduces Twitter Response for Customer Service Management through Social Networking Channels
Tips for Great Content Marketing for Local Search Success
Used VTEC Engine Now Included in Honda Parts Inventory at AutoProsUSA.com