What Are You Waiting For? Start Saving During “America Saves Week”!
In a recent survey, it was found that only 40% of U.S. households report good or excellent progress in “meeting their savings needs”, and only 43% utilize automatic savings outside of work options such as a 401(k). Our goal by partnering with America Saves Week – February 26-March 3, 2018 – is to help inform our customers and community members of the options for automatically adding to your savings profile without hitting your bottom line!
Let’s look at a few options you have, and give us a call if you have any questions or are ready to get started saving!
Another excellent way to save without having it hit your household budget hard is by taking any extra commissions and bonuses and placing them directly into a savings account. Whether you get quarterly or yearly bonuses, this is a great way to save.
If you aren’t able to automatically transfer out your commissions, another option is to increase your contribution to your IRA or 401(k) during the time of year you usually receive extra earnings.
The IRS also allows you to deposit your tax return into one or more accounts, such as a savings account, IRA or savings bonds! If you’re filing online, you can split your refund deposit there, but if you’re filing by paper use form 8888.
Credit Card Rewards
While many cards reward you with miles or points, some of them do offer cash back or allow you to transfer your miles or points into cash! This is a great opportunity for you to directly transfer that cash painlessly into your savings account.
If they will only allow you to transfer into a checking account, you’ll just need to remember to transfer it manually later. Another great way to save without hitting your household budget. Contact us today for more ideas or help implementing your savings choices!