6 Essential Tips to Master Debit Card Use

When kickstarting your financial journey, establishing healthy banking habits is key! Learning how to responsibly manage your money can make a huge difference in the long run. Below are 6 simple tips to get you started on the right foot.

When gaining financial independence, understanding how your checking account works is crucial. It’s important to get in the habit of regularly checking your account balance and monthly statements to ensure you are on top of your finances. Luckily, the Pioneer Mobile Banking app makes this super easy for you! Within the app you can review recent activity, see a summary of transactions, and use the search function to find past transactions. Small savings can make a big difference, so consider setting spending limits and tracking your purchases!

Your next step to financial wellness is setting a budget! You can set a monthly or yearly budget, depending on your preference. Typically, it’s easier to start by forming a monthly budget and flowing it out to a full year. To ensure you can reach your budget, make sure it aligns with your lifestyle and spending habits. Also, you never know what may come your way, so having an emergency fund built is always a smart idea. Budgets come in handy when saving for life milestones such as college or your first car. Alleviate your financial stress by having a smart budget set in place!  

We all know how difficult it can be to avoid impulse purchases! Before you make any costly purchases, make sure you think through how it will affect your ability to stick to your budget. Creating a pros and cons list can be helpful when making tough decisions! Another smart tip to not spend outside your means is to create shopping lists and stick to those items. Whether you are grocery shopping or buying new clothes, that list will help you stay on track and avoid unnecessary purchases. Don’t forget, using your debit card is just like spending cash - just because you have the money in your account, does not mean you should use it!

4. Withdraw Wisely:
No one likes paying extra fees! Being mindful of the costs that come with using ATMs is key to managing your finances effectively. Many ATMs charge a service fee for withdrawals, which can add up over time. By planning your withdrawals carefully and using ATMs from your own bank, you can avoid unnecessary fees and keep more of your money in your pocket.

5. Card Safety:
Protect yourself from fraud before it’s too late! Pioneer makes it simple to secure your account, turn on Card Controls & Alerts, anywhere, anytime in the Pioneer Mobile Banking app. Within the app you can easily customize where and when your card can be used. You can set spending limits down to the cent, designate specific geographic regions for your card to work, block international transactions and more! Additionally, you can also set real time alerts so you can react fast when any unexpected purchases appear. Most importantly, if you lose your card, you can instantly freeze it on the app to secure your funds. Then, it’s as simple as stopping into any of our convenient branch locations to receive a new Instant Issue debit card the same day.

As you progress in your financial journey, continuous education is one of the most valuable tools you can have to ensure your success. Pioneer has a suite of Financial Education tools to help you learn and stay on top of all your financial needs. Our Financial Wellness blog offers advice on a variety of topics, including saving, budgeting, investing, fraud prevention and much more! Don’t forget to continually educate yourself on the latest scam tactics and trends being used by fraudsters to protect your finances using our Scam Alerts page. Pioneer is here for you every step of the way!