What is Spending Habits?
Spending Habits allows Digital Banking users to view and maintain their financial information for First Bank & Trust accounts as well as any external financial accounts in one easy and convenient location. Spending Habits allows you to track spending behaviors, categorize expenses, set financial goals, and create budgets. Spending Habits can give you a total financial picture to better understand your financial activity.
What are the benefits of Spending Habits?
Spending Habits allows you to:
- Track accounts and categorize transactions
- Retain and review account information, transaction activity, budgets, and goal history
- Assist in building net worth by tracking progress toward a budget or goal
- Monitor activity through alerts
How do I enroll with Spending Habits?
Log in to Digital Banking and choose the Spending Habits tab. You will then be guided step by step through a set-up process. You will also be asked to agree to an online agreement.
Is there a fee to utilize Spending Habits?
No, there is no fee to utilize Spending Habits.
What kinds of accounts will display in Spending Habits?
Your First Bank & Trust accounts tied to your Digital Banking username will automatically display. You will not be able to delete any of your First Bank & Trust accounts from view.
You can choose to aggregate in external accounts tied to other financial institutions or companies (e.g., credit cards, investment accounts, other bank accounts). The only stipulation is that those external accounts must be accessible through a website with log in credentials.
External accounts not accessible through a website can be manually loaded and updated.
Can I delete external accounts displaying in Spending Habits?
Yes, you can delete external accounts from view within Spending Habits at any time.
Can First Bank & Trust view my external account information?
If you choose to aggregate in an external account, First Bank & Trust will be able to see the account name you assigned, the type of account, the institution, and the last date the account was updated in Spending Habits. First Bank & Trust will not be able to see specific information about your account, such as account balance, interest rates, or payment amounts. However, we may use this information in the aggregate in order to direct delivery of marketing materials.
How can Spending Habits help me establish and monitor a budget?
The Spending Habits budget feature allows you to:
- Compare monthly expenses to budget amount.
- View transactions by category.
- View income and expenses by category.
- View spending/cash flow summary.
- Create and update a budget.
To fully establish and monitor an effective budget, you may want to upload your external financial accounts, which are outside of First Bank & Trust. This will allow you to see a total financial picture and more accurately establish a budget.
What is the difference between a budget and a financial goal?
A budget allows you to monitor income and expenses, while a financial goal is a monetary amount you want to achieve by a certain date, such as saving money for a vacation.
Can I set up alerts within Spending Habits?
Yes, Spending Habits allows you to set up alerts for your First Bank & Trust accounts within Spending Habits as well as your external accounts loaded into Spending Habits. Alerts are messages you create to notify you of an event. Notifications are delivered within Spending Habits and can also be delivered to your email.
Please note: Spending Habits alerts are separate from Digital Banking alerts.
What types of alerts are available within Spending Habits?
- Budget Threshold: when an amount or percentage approaches or exceeds either the whole budget or a selected budgetary item.
- Account Threshold: when an account balance is under or over a certain amount.
- Account Credit/Deposit: when a deposit or credit transaction is made to a designated account.
- Account Update Reminder: a periodic reminder to update an account.
- Transaction Merchant: when any transaction is made at a designated merchant.
- Transaction Amount: when a transaction for a designated account exceeds a defined amount.
How do I disable Spending Habits alerts?
To disable a Spending Habits alert, go to the Alerts option and click the “x” next to the alert you wish to disable.
How do I obtain additional help for my questions on Spending Habits?
You can access online help by selecting the Help menu item within Spending Habits, or you may contact customer service at 800.843.1552 during normal business hours.