Whether you are trying to build better habits and have made a financial resolution to start saving money in the New Year, or you want to save for a big purchase, Westport Federal Credit Union wants to help!
How to Save $1,000
When you have a lot of student loan debt, or you live an expensive lifestyle, saving money can seem unreachable. But, to save $1,000 for the year, it ends up being $2.74 a day, that’s it! Here are some ways you can save $2.74 a day: Make coffee at home rather than stopping at a coffee shop, bring leftovers for lunch rather than eating out once or twice a week, or if you can, work an extra half hour a day. When you break it down it seems much more attainable.
Top 3 Money-Saving Tips
- Split up the $1,000 however works for you: You’re going to be more successful with your money saving if you don’t try to force too much change. It might not make sense for you to put aside $2.74 a day – it could be easier to meet the challenge by saving $19.18 out of your weekly budget. Or, once a month, $38.33 directly into your savings account. Daily, weekly, or monthly – in the end it’s about what works for you.
- Open an Interest Bearing Savings Account – Using a savings account will help you exceed your goal of saving $1,000 this year if you stick to it, and it will help keep your money safe. Plus, if you’re trying to build a permanent habit, it’s good to introduce an interest bearing account early on.
Want to open a separate savings account for your 2021 savings challenge? Open one online with us 24/7 here.
- Use Tools to Help you succeed – You’re not alone! There are a variety of tools available to help you succeed. You could download apps to help you keep track of your goal, or even set weekly or monthly reminders to ensure you make a transfer to your savings account. Use Westport Federal Credit Union’s EZ banking to manage and make transfers to your banking accounts. To help keep you on track, Westport Federal Credit Union can set you up with reoccurring time to transfer a customized dollar amount from your checking account to your savings account. You get to decide when the transfers are made – whether it’s , weekly, or monthly.
However your finances are, Westport Federal Credit Union wants to better you with our Savings Challenge of 2021. Secure your financial future with us.