Did you know this week was America Saves Week? I didn’t until just a couple days ago when a co-worker told me about it. This week is put together by the America Saves and the America Savings Education Council. Their mission is to share the power of saving money. They believe that most Americans are not saving enough for the things that they need in life. When it comes to retirement funds, buying a house, buying a car, and just saving money in general this organization provides tips and resources to help people reach their goals. Since 2007, America Saves Week has brought over 2,000 organizations including credit unions, non-profits, and the media to help promote the power of saving money. This year their motto is to “Set a Goal, Make a Plan, Save Automatically.”
Saving can be easier and more fun when you have a goal. Think about something you want or need and then save for it. Whether it’s a new car, college, or even a new cell phone a goal will give you a reason to save. Connex makes setting your goals super easy with our Special Purpose Accounts! You can even create and name multiple Special Purpose Accounts for your various savings goals.
After you’ve set your goals you need to figure out how you’re going to reach them. The best way to make a plan is to set a budget. First you can use Connex’s FinanceWorks Tool in Online Banking to track all of your spending. To set your budget you should cut back on unnecessary spending and put the left over money towards saving!
Now you’ve set a goal and made a plan, but now you have to take action and stick to it. Sometimes it can be difficult to remember to save money. Luckily Connex has Scheduled Transfers that allow you to set an automatic transfer of money from one Connex account to another. You can even schedule it weekly, monthly, or a whole list of other time options so that saving can fit your schedule.
What are your saving goals?
Chris, VP of Unbanking