There are a variety of reasons to begin or continue saving money. You may be thinking of a vacation, a new car, an addition to your house, your retirement or just the peace of mind that comes with having savings to handle unexpected expenses.
You don’t need to save hundreds or thousands of dollars each paycheck to make a difference in your finances. You can start small and build your savings over time. You can also gradually increase the amount you save each month as you adjust to your new budget. The choice is up to you. Here are a couple of charts showing how much you can save monthly to reach your goals.
Saving for short-term goals – vacation, larger car down payment, or just accumulating more.
Saving for longer-term goals – college for a child, retirement, or just accumulating more.
Automating your savings means setting up a system where funds are automatically transferred to your savings account. This hands-off method can be done in several ways. For example, you might set up scheduled transfers from your checking to your savings account, or your employer may offer an option to allocate a part of each paycheck directly into savings. Additionally, there are tools that round up your transactions to the nearest dollar, depositing the difference into a savings or investment account. Automatic savings plans are an easy way to save. Below are two easy ways to help you get started with automatic saving.
Automatic Transfer Authorization
Payroll Deduction Direct Deposit
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Save Unexpected Money There may be times throughout the year when you receive unexpected money. For example, it could be a third paycheck one month, a tax refund, a performance bonus at work or a birthday gift. If you ever find yourself with unexpected money, save it. Since this does not impact your monthly budget, it may be an easier way to save. |
To maximize your savings, choose one of our high-interest and competitive savings accounts while enjoying flexible access to your funds. Our Certificates of Deposit may offer you higher yields on your money, depending on the length of the term.
We offer a variety of savings accounts
to meet your banking needs.
A variety of terms to choose from
with a minimum investment.
Articles to help you understand the banking industry and how your finances are handled.
A great way to jump start your savings.
Setting up a program to automatically save
money for you can help you reach your goals.