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7 Clever Ways Banks Can Help You Achieve Your Investment Goals

Ridofranz / iStock.com

Ridofranz / iStock.com

Setting investment goals will improve your finances. The simple act of establishing goals will make you more conscious about how you spend money. You will look for opportunities to grow your finances and generate higher returns.

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However, you don’t have to approach lofty investment goals on your own. Many banks have resources that can help you cross the finish line and reach your desired net worth.

These are some of the clever ways that banks can help out.

Many banks offer financial consultations where you can speak with an expert and map out a plan. Financial institutions usually offer these services for free to encourage you to stick with them. These consultations are usually basic but can help you determine your next step.

Banks have plenty of online tools that can improve your finances, including budgeting tools. This resource can help you stay on top of your expenses and discover opportunities to cut costs. You can also review your previous bank and credit card statements to remove unnecessary costs.

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Investing money is a common path to long-term wealth, but not everyone remembers to move their money to a brokerage account of their choice. Banks allow you to solve this problem with automatic money transfers.

You can set up monthly transfers that go from your bank account to an ETF or mutual fund of your choice. That way, even if you don’t check your brokerage account for months, you know that you are making regular investments.

Are you wondering if a 15-year mortgage is better for you than a 30-year mortgage? Do you need help with planning your retirement or developing better money habits?

Many financial institutions offer educational resources that teach you the basics of personal finance. Some banks also have educational articles, videos and interviews that dive into more complex topics like constructing a portfolio and making real estate investments. These resources can build your financial knowledge and make you feel more confident as you pursue your investment goals.

High-yield savings accounts, money market accounts and certificates of deposit (CDs) are some financial products that allow you to earn interest on your extra cash. Banks offer these products, and they can move you closer to your financial goals.