Simple Ways to Build Wealth Over Time

April is Financial Literacy Month, and building wealth over time requires simple habits, not complicated strategies. According to Annuity.org, 25% percent of U.S. adults say they don’t have anyone to ask for trusted financial advice. Below are some habits to implement into your lifestyle to make financial strides in the long run.

Pay yourself first – Most people save what’s left after spending. The issue is there’s rarely anything left. Each paycheck, designate a set amount of money to automatically transfer into savings. When you treat your savings like a non-negotiable expense, you are investing in your future. 

With our Northwest Bank Online and Mobile Banking tools you can make it easy to stay connected to your finances anytime, anywhere. You can: 

• View real-time balances
• Track spending categories
• Set up account alerts
• Receive notifications for unusual or suspicious activity

These features help you stay in control while adding an extra layer of protection.

Reframe your mindset – Spending with intention and future goals in mind makes it easier to avoid impulse purchases. Consider turning off notifications for store deals and unsubscribing to email marketing. Being bombarded with “act now” discounts and deals convince us to engage in unnecessary purchases. Before buying something, ask yourself, “Will I want this in a month? Do I really need it?” 

When you unlock our Online and Mobile Banking, you get access to tools that also help you stay mindful of your habits, including Credit Sense.

With Credit Sense you can:

• See your current credit score* at any time
• Understand the factors impacting your score*, like payment history, credit usage, and account age
• Track how your daily spending and financial decisions influence your long‑term credit health
• View everything in one place, making it easier to stay intentional and avoid unnecessary purchases
• Stay focused on your goals with insights that support better financial habits

Avoid lifestyle creep – Consumers may be tempted to make lifestyle upgrades when income increases. However, this can reduce savings and increase dependence on a higher income. If income goes up, increase the amount you’re saving, then save some for enjoyment.