Every year on August 14, National Financial Awareness Day encourages individuals to take control of their financial well-being. It’s a day to reflect, reset, and make informed choices that help you reach your money goals whether that means finally starting a budget, reviewing your credit, or simply checking your bank accounts more often.

No matter where you are on your financial journey, here are five practical, meaningful ways to boost your financial awareness today and set yourself up for long-term success.

1. Track Your Spending to Find Hidden Patterns

If you’ve ever looked at your bank statement and thought, “Wait… I spent how much on takeout?” you’re not alone. Understanding your spending is the foundation of financial awareness. Knowing where your money goes allows you to make smarter decisions and find places to save.

• Pull up your recent transactions in First eBanc or First eBanc Mobile.
• Categorize your purchases: essentials, wants, subscriptions, etc.
• Look for areas where spending sneaks up like food delivery, online shopping, or unused memberships.

Bonus Tip: Set up First eAlerts to receive notifications each time your debit card is used. You’ll instantly know when and where money is being spent, helping you stay on track and catch fraud fast.

2. Know Your Credit Score and What Affects It

Your credit score isn’t just a number; it’s a key part of your financial future. From loan applications to insurance rates, your score plays a big role in what opportunities (and costs) come your way.

Start by checking your score and reviewing your credit report. Look for:

• On-time payments
• Credit utilization (how much of your available credit you’re using)
• Any errors or unfamiliar accounts

As a First Community Bank and Trust customer, you can check your score anytime using Credit Sense, available in First eBanc. It’s free and packed with helpful insights tailored to you. You can check your credit score as many times as you like without it affecting your score.

3. Set a Clear, Achievable Savings Goal

Saving money can feel overwhelming, especially if you’re starting from scratch. But here’s the secret: it doesn’t have to be perfect. It just has to be consistent.

Think about what you’d like to save for:

• A vacation
• A new car
• A down payment
• An emergency fund

Once you’ve picked a goal, automate the process. Set up automatic transfers to a savings account every payday even if it’s just $10. Over time, small deposits become big wins. Label your savings account with your goal (e.g., “Hawaii 2025 Fund”) to stay motivated!

4. Build or Refresh Your Budget

Think of a budget as a spending plan, not a punishment. It’s your way of telling your money where to go, instead of wondering where it went. Start by listing your income and monthly expenses. Break down your spending into needs, wants, and savings. Use My Cards to help visualize where your money is flowing. My Cards is a feature in First eBanc Mobile that allows you to manage your debit card, including turning it on or off, setting spending limits, and controlling how and where it can be used.

First eBanc and First eBanc Mobile give you easy access to your transaction history, so you can build your budget using real data, not guesswork.

Not sure where to start? Try the 50/30/20 rule:

• 50% for needs (rent, groceries)
• 30% for wants (dining, entertainment)
• 20% for savings and debt payments

5. Protect Yourself Against Fraud

Financial awareness also means being proactive about security. In a world of phishing emails and card skimmers, staying alert is just as important as budgeting.

Here’s how to stay safe:

• Use First eAlerts to monitor debit card activity in real time
• Set transaction limits or turn your card off temporarily using My Cards in First eBanc Mobile
• Avoid sharing personal info over text or email
• Regularly review your account for unfamiliar transactions

If something doesn’t look right, contact us immediately. Quick action can stop fraud in its tracks.

Final Thoughts: Your Financial Awareness Matters

National Financial Awareness Day is more than just a date on the calendar. It’s a chance to pause and take control of your finances. The good news? You don’t have to do it alone. At First Community Bank and Trust, we’re here to help you every step of the way. Whether you’re monitoring spending, improving your credit, or setting savings goals, we offer the tools and the personal support to help you feel confident and in control.

 

About First Community Bank and Trust
First Community Bank and Trust is a privately-owned bank. Established in 1916 First Community Bank and Trust has been serving Beecher, IL, Peotone, IL and the surrounding communities for over 109 years. Our commitment to providing the best banking products and services is matched only by our outstanding customer service. We offer traditional community banking services, including mortgage, consumer, and commercial lending, as well as state of the art electronic banking services.

Press Contact:
Steve Koehn, Senior Vice President
First Community Bank and Trust
(708) 946-2246

 

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