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January 2023

Savings can mean the difference between surviving any financial challenge that comes along versus struggling and despairing. When you develop sound saving habits, you also give yourself the opportunity to have the life you’ve always wanted. Here are four strategies to make saving second nature:

Set Meaningful Goals

Why do you want to save? Do you want to have enough to make a deposit on the land or house of your dreams? Would you like to invest in training or tools that can help you go further in your career or business? Having an important goal will keep you on track to save consistently.

Be Intentional about Saving

Beforehand, determine the amount you want to set aside instead of waiting until after you’ve been spending to see what’s left over. Have a fixed amount of money or a percentage of your disposable income designated to deposit into your savings account each month. If you receive a raise, increase this amount accordingly.

Avoid Interest Charges & Late Fees

When you make your loan and credit card payments on time, you prevent the burden of an added expense. As long as you schedule a regular time for bill payments, you’ll avoid late fees and higher interest charges.

Distinguish Needs from Wants

Little luxuries add up over time. For example, considering the importance of your financial goals, decide whether it’s worth it to spend a little time in the kitchen to take a homecooked meal to work rather than buying lunch as often as you do. A small change like this can easily save you hundreds or thousands of dollars every year.

Talk to Us

At the AffinityPlus Credit Union, we are focused on helping our members reap the rewards of consistently saving. Click here to learn more our about suite of savings products. If you are not yet a member, it’s very easy to join. Visit our membership page for more information.

Successful Saving Habits