- Personal banking control centers. Every individual’s circumstances are unique. Unfortunately, traditional financial planning tools were neither flexible nor accessible enough to help people customize an approach to meet their needs. Today, that’s different. Online banking controls, such as Key’s myControl Banking®, allow banking customers to create highly personalized plans that allow them to set financial goals, manage deposits and spending and keep track of savings. During the holiday’s, you can use these tools to assess your income and categorize budgets and spending. You can also use a tool like this to plan ahead for next year. Easy-to-read charts make reviewing your accounts and goals a cinch.
- Mobile banking. With a smartphone, you can access your accounts with your mobile device any time you want, from wherever you are, to view balances and transactions, make payments to existing payees and transfer money between your KeyBank accounts. This is a great way to track your holiday spending, especially if you’re using your debit card to make purchases. According to the Daily Worth, 57 percent of shoppers shell out more cash then they plan, primarily because they use plastic instead of cash to make purchases. So check your account balances when you’re in the aisle mulling over a purchase. Seeing the balance and commitments in your account will help you make a better decision.
- Account alerts. According to the National Retail Federation, the average holiday shopper will spend $737.95 on gifts, decor, greeting cards and more this holiday season. Many of these people will outspend their budget, and most of those who do so will do so unknowingly. Account alerts can let you know when you exceed your spending budget or when your accounts hit a certain level so that you know when to say “when” instead of continuing to shop. At the very least, you will know that you’re at your limit, which will make you reconsider the importance of purchases. Alerts can be sent via text message or email.
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