It can be difficult to find the money to put aside for savings, but there is an easy way to save money without ever missing it: make your savings automatic.
It can be difficult to find the money to put aside for savings, but there is an easy way to save money without ever missing it: make your savings automatic.
Saving automatically—through an allotment or automatic transfer of funds—to a short-term or long-term savings account is the best way to save. Why? Because you don’t have to think about it. Set it and forget it because it’s automatic! So, whether it comes to saving for your emergency fund, paying off a debt or investing in your retirement, set your savings on autopilot today!
How to save automatically
Set up an allotment from your pay via myPay. Have an amount go to an account that is separate from your regular checking account.
Use your banking institution’s bill pay system to automatically transfer money from your checking account to a separate savings account.
Why automatic savings works
Saving automatically makes it easier to save because 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. At Military Saves, we say “Start Small, Think Big.” You can start with only $10 a week or month, but you have to start somewhere. When you get extra income, add that money to your account as well. Try saving:
A portion of your tax return
Deployment or other special pay
Birthday or holiday money
Money from items you've sold (garage sales and consignment)
Over time, your deposits will add up. Even small amounts of savings can help you in the future.
Do you save automatically? Let us know on our Facebook page.
Take the Military Saves Pledge
Want inspiration and motivation on your savings journey? Take the Military Saves Pledge today and create a simple personal savings plan that works!
Take the Military Saves Pledge
Make a pledge to yourself and create a simple savings plan that works. Complete the Pledge and Military Saves will send you short email and text reminders, resources, and tips to keep you on track toward your savings goal. Become part of an entire community of savers. Get started now!Please use a CIVILIAN email address.
Those with a savings plan are twice as likely to save successfully. Taking the Military Saves Pledge is a pledge to yourself to start a savings journey and Military Saves is here to encourage you along the way. Take the first step toward creating a better financial future. Make a plan, set a goal, and pledge to yourself to start saving, today.
Congrats on completing the pledge!
We are so glad you have started your savings journey and Military Saves will be right beside you the whole way! You will soon receive an email from the Military Saves team to help encourage you. Find helpful links below to continue researching topics on saving.
General - 54 Savings Tips
Need #savings tips? Check out these 54 savings tips & boost the amount of #money you can #save http://ow.ly/sfsPP
Check out savings journeys from savers just like you
Many of us spend too much money on things we don’t need, but we don’t always know why. It’s easy to get a quick fix from retail therapy, but before we know it, our hard-earned money is gone. Oftentimes, when we engage in a “shopaholic” lifestyle or sporadic shopping sprees, we still experience feelings of emptiness, but to make it worse, we now have debt, too.
