If you’re looking to save more money there are many things to take into consideration, and many ways to make it happen. Consider the following tips when your goal is to save more money. 

  • Do you want it or need it?
    • Are you buying products or services you don’t really need?


  • Make saving an automatic habit
    • You are more likely to save if you have an automated process in place. Put a portion of each paycheck into your savings, that way you are less likely to spend it all.


  • Pay yourself first!
    • Set aside money at the beginning of the month instead of waiting to see what’s left at the end of the month.
    • You can also decide on a percentage of your monthly income (1-5%) to re-direct towards your savings program.


  • Set aside “extra” money into savings
    • If you get an allowance, bonus or a gift put it directly into your savings, if not all, at least a portion of it.
    • If you pay off a loan, continue to make the monthly payments into your savings account.


  • Pay your bills on time
    • Avoid paying service charges, late fees, or extra finance charges for services.


  • Avoid check-cashing stores
    • Avoid paying processing fees to cash a check, some charge as much as $10 for each check, and consider opening a checking account at a bank instead.


  • Save for retirement
    • The sooner you start the better, but start!
    • If your employer offers a retirement savings plan, participate in it, it will grow your returns faster than traditional savings.
    • If you’re self-employed, set up your own plan and be disciplined to contribute continuously.


Savings and goals go hand-in-hand. First you need to decide what you want to accomplish! Then it’s a good idea to make a list of things you would like to buy or achieve in the next three months, then the next six months and a year from now.

  • What can you do to accomplish these goals?
  • What are the costs of each goal?
  • Is continuing to do the same thing I’m doing right now going to make my goals happen? If not, how do I adjust my plan? 


Research your options; most banks’ websites have tremendous resources available to help you make an informed decision. Talk to your local banker and learn the best options to meet your objectives and goals quicker.