Knowing when and how to set a financial budget for yourself can have its benefits. Maybe you are saving up to go on a trip? Maybe you need a monthly clothing allowance? Or, maybe you are just putting money back for rainy day? Either way, the ACE Elite™ Visa® Prepaid Debit Card can help you reach your mark all while teaching you about the ins and outs of maintaining a successful budget. There are some good budgeting tools available in the Online Account Center. You can sign up for Anytime Alerts™, create your own Budget, or see how you are doing via the Budget Score Card.2
Setting a weekly budget for yourself can be tough. The hours you have to work with in a day usually seem shorter with everything you are responsible for (family, work, children, etc.) So, finding the time to fix your lunch or waking up a bit earlier to turn that coffee pot on instead of spending the money for a cup can be a hassle. Trust us, we are right there with you, which is why we want to show you that it is possible to treat yourself a few times out of the week, while staying on budget, with the money you put on your prepaid debit card.
Try this: Put $75 or even a smaller amount if you want on your card for the week. Pick a day or two you would like to grab a delicious lunch, your favorite cup of coffee, or even end the long work week with a great dinner and drinks with friends. You can keep a close eye on your budget by creating one from scratch in the Online Account Center. We have provided a guide in the Budget section that will help you make a budget for the money you spend every week, which means you can choose what days to take a break and enjoy yourself. Keeping up with a weekly budget like this not only establishes financial balance, it also gives you an overall picture of exactly where you are putting your money. Another great way to keep up with your budget is enrolling in Anytime Alerts™ on your mobile device.2 Something you might want to think about is how valuable Anytime Alerts is when you have a secondary cardholder on your account.3 If you give a family member their own card to use, you can keep an eye on their spending by signing up for the alerts. Each time they make a transaction, you will receive a text and/or email regarding their financial activity. Using your card and the budgeting features that come with it allow you to be able to view your current balance, which will keep you on track.
Using your prepaid debit card to budget for your next trip can have some fantastic advantages. A great tip to take as you get ready for your trip is putting money back on your prepaid card every time you have a payday. Little by little those funds will add up until you eventually have a great budget to spend on your trip. Because this is not a credit card, you don't have to be concerned with credit card debt or late fees; just your money you set aside for a relaxing trip to enjoy. Who wouldn't want that?
Using a prepaid debit card to learn about budgeting at different levels on your financial journey is truly the key to overall better money management.
Knowing how to budget can pay off in the long run when it comes to having more money to put in your savings account. As an ACE Elite cardholder, you have the option to grow your savings by opening a no cost savings account. ACE offers a savings account that yields a 5% annual percentage yield on balances up to $1,000.00 with no minimum balance requirement or monthly fee.4 It is safe to say that putting back little by little out of your budget towards a savings account helps in securing your financial future.
The interest rates and APYs of each tier may change. The APYs were accurate as of January 1, 2017. These are promotional rates and may change without notice pursuant to applicable law. No minimum balance necessary to open Savings Account or obtain the yield(s). Because Savings Account funds are withdrawn through the Card Account (maximum 6 such transfers per calendar month), Card Account transaction fees could reduce the interest earned on the Savings Account. Card Account and Savings Account funds are FDIC-insured through MetaBank, Member FDIC upon verification of Cardholder’s identity. For purposes of FDIC coverage limit, all funds held on deposit by the Cardholder at MetaBank will be aggregated up to the coverage limit, currently $250,000.00.
The ACE Elite Visa Prepaid Debit Card is issued by MetaBank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Netspend, a TSYS® Company, is an authorized Independent Sales Organization of MetaBank. Card may be used everywhere Visa debit cards are accepted. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, ID verification, and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.
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