The only one who can keep you from achieving your savings goals is you. The best way to build up your savings and start putting away money for future purchases or goals is to work with your local credit union in New Bedford. While you might not be able to control what happens in the economy or prevent emergency situations from cropping up that could threaten the amount of money you have saved, it is possible to use your Share Savings Account and other tools at your credit union online banking service to build your money over time. St Anne Credit Union in New Bedford has many unique savings tools that you can use to your advantage, whether your goal is to be debt-free for holiday shopping or to save toward a down payment on a brand new home.
7 Ways to Save Money – Today!
Sometimes the best way to get started is to make a plan of action. There are lots of little ways that you can build up your savings without really even noticing that the money is “gone” from your main checking account or wallet. You can transfer the money that you save on a daily, weekly or monthly basis via your credit union online banking services or deposit it in-person directly to your Share Savings Account – whatever works best for you. Some people like the idea of making a physical deposit, while others do better with a virtual online transfer of funds.
Method #1 – Decide What’s Important
One of the fastest ways to spend your savings – or not get any money into your savings in the first place – is to make thoughtless purchases. Taking time to figure out what purchases are important, and which ones are not, can help you to avoid making a regrettable purchase. Once you learn how to separate wants from needs, you won’t make unnecessary purchases.
Method #2 – Track Your Spending
One of the best tricks used by financial experts is to keep track of your spending – every little bit of it. Write down how much you spend in a day on everything from gas for your car to that latte on your way to work in the morning. You might be surprised at how much you are spending on things that appear to be little expenses, yet really add up in a month’s time. Many people have learned to save money by making coffees at home and investing in a good re-usable cup or a quick single serving brewer.
Method #3 – See Savings as a “Bill”
Every month when you sit down to write out checks or use your credit union online banking service to pay your utility bills, mortgage and credit card bills, include a bill for savings. When you treat your monthly or bi-weekly additions to your Share Savings Account as a bill, you are more likely to keep doing it and put the desired amount away toward your goal. Start low – like $20 a paycheck and move up to $50, $100 or more as you build up your savings at your credit union in New Bedford.
Method #4 – Watch for Over-Spending
There are lots of ways that people over-spend on every day items. Carpools, public transportation or upgrading to a vehicle that consumes less fuel can help to reduce your monthly gas bills. Hidden charges in auto or home insurance, cable or satellite television and even credit card fees and interest should all be checked for regularly to realize additional savings. All of the money that you save can be put into your savings at St Anne Credit Union New Bedford.
Method #5 – Lower Utility Costs
Another way to reduce spending that can be put into your savings is to reduce your monthly utility costs. Energy efficient light bulbs, lowering your thermostat in the winter or raising it in the summer, using automatic sprinklers to reduce water usage for lawns – all of these things can add up to real savings.
Method #6 – Reduce Restaurant or Take-Out Meals
While the dollar menu at your favorite burger place might seem like a good idea, it can really add up compared to cooking and eating food at home. The $10 you spend on a delivery pizza could have paid for two or three home cooked dinners instead. Not only is home cooked food healthier than take-out, it will help you realize your savings goals.
Method #7 – Use Online Bill Pay Services
Your credit union online banking resources at St Anne Credit Union in New Bedford can really help you to cut down on costs associated with paying your monthly bills. Utilities, mortgages, car payments and credit cards can all be paid online through your credit union accounts. Postage savings and late fee savings can both be achieved by paying your bills on time through your credit union online baking services.
Learn More Savings Tips at St Anne!
If you are interested in expanding your options with regard to a Share Savings Account at your local credit union in New Bedford, make sure to stop by St Anne Credit Union and speak to one of our friendly representatives. We can help you get started with a membership to our local credit union and can provide you with all of the information you need to choose the best type of account to help you build your savings.