It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it.
Make your savings automatic. You can start with automatic transfers of any size, and can increase the amount as you become more comfortable over time.
How to save automatically
- Many employers allow you to divide your paycheck into different accounts. Take advantage by putting part of your pay into a savings account.
- You can set up monthly transfers and track your savings progress through Popular Online Banking.
- When opening a new savings account, a banker can help you set up automatic transfers from one account to another.
Why automatic savings works
- Saving automatically makes it easier to save because your money is saved with each paycheck – you don’t have to think about how much to save or take any additional steps.
- It’s tempting to spend money when it’s readily available. If you don’t see the money, you are less likely to miss it.
I don’t have enough money to save
Everyone has the ability to save, and you have to start somewhere. At Popular Community Bank, we’ll structure a savings plan that fits your budget. You can start with only $10 a week or month. When you get extra income, you can add that money to your account as well:
- Put a portion of your tax return money into savings.
- Put birthday or holiday money into savings.
- Hold a garage sale and put that money into savings
Over time, your deposits will add up. Even small amounts of savings can help you in the future.
Through the end of this week (Saturday, March 2) we’re offering a cash bonus to individuals that open a new relationship savings with automatic deposits. Be sure to stop by a branch to take advantage of this great promotion while it’s still available!
Also, remember to enter our I Love Saving Photo Contest on Facebook this week for a chance to win $5,000.
Do you save automatically? Let us know on our Facebook page.