10 Ways to Save: Automate Savings

Automate your savings so the money does not go into your checking account.

  • Saving money can be a mouse click away.
  • Online banking at many credit unions and banks allow you to automatically transfer money from your checking account to your savings.
  • You can also let your boss do the work for you by having your employer do it on payday.

ROANOKE – "If its automatically going into your savings account instead of going into your checking account, then you're not viewing it as spendable money.  If you can get that automatic transfer set up, then you don't have to think about it, it's the path of least resistance. Take out as many steps as possible to set yourself up for success."

Courtney Campbell, Financial Education Manager, Freedom First Credit Union

You can set up multiple accounts, one for your emergency fund, where you will want to have three to six months of all household expenses saved.

CLICK HERE TO SEE ALL 10 WAYS TO SAVE.

You can set up other accounts for big ticket purchases, like a new hot water heater or a new car purchase.

You can also set up other accounts for vacations or holiday spending.

Â