Why Saving is Important

Ways to maximize your money

Simplify

Make a monthly budget that you can stick to based on your take-home pay.

Download A Budget Guide 

Save

• Put a portion of each paycheck into your savings account. Setting up direct deposit or an automatic recurring transfer can help.
• Always put extra cash, like tax refunds or bonuses, into your savings account.
• Start with a savings goal of having enough to cover three months of expenses.

Calculate the Impact of Saving

Consolidate

Use this simple debt consolidation calculator to manage debt you may have.

Why saving is powerful

Compound interest

Not only do you earn interest on the money you deposit, but also on previously earned interest. This is compound interest and it helps your money grow.

Easy money

Once your money is in a savings account, make an effort to leave it there. Thanks to compound interest, your money grows at an accelerated rate over time. It is the easiest money you will ever earn.

Learn More About The Power Of Interest

How to save on everyday expenses

Reduce your bills

• Review your wireless carrier plan to see if there are places to save.
• Review your cable, streaming and internet options to get the best deal.

Make your loans work for you

• Consider refinancing your mortgage or car loan.
• Consolidating credit card or student loans could lower your interest rate.

Be smart about eating out

• Getting just an entree and water—no drinks, appetizers or dessert—can cut your restaurant bill in half!
• Make coffee at home and take your lunch to work to save every single day.

Go green

• Install a smart thermostat to save energy while you’re at work.

Shop like a pro

• Avoid convenience stores because their prices are usually higher than grocery stores.
• When you’re tempted by a sale item, ask yourself if you really need it.