Savvy Financial Tips From M&T Bank

Saving Now For The New Year

For many, the end of the year is full of family, presents, good food and general holiday bliss. But what is often overlooked this time of year is your future financial planning. M&T Branch Manager Heather Reed says that now is the time to start planning for your financial new year.


Reed's tips include:


  • Set up direct deposit straight to your savings account.

  • Review your retirement plan progress, and max out contributions.

  • Use up Flexible Spending Account (FSA) funds.

  • Consider making a gift to family or loved ones, and know the tax benefits.

  • Adjust your tax withholding if you’ve experienced a major life change.

  • Review your estate, or end-of-life plan, especially if you own a small business.

  • Donate to charity to take advantage of tax breaks.

  • Review your insurance to find savings and ensure you’re appropriately covered.


According to the most recent Federal Reserve data, 46% of Americans lack emergency savings and would struggle to cover an unexpected cost around $400. To get on track visit


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