Automating Your Savings

One way to boost your savings is to set up automatic, recurring deposits into your savings account. This strategy of paying yourself first can help you achieve consistent growth without a great deal of effort. Here are a few things you can do to automate your savings:

Split your direct deposit

Ask your employer to deposit a specific dollar amount or percentage of your pay directly into your savings account, and the rest into your checking.

Set up recurring, automatic transfers

Use your mobile banking app or online banking to set up recurring transfers from your checking to your savings account – maybe right after you get paid, or once a month.

Designate your tax refund

If you anticipate a tax refund, have it sent directly to your savings account instead of your checking.

Send secondary revenue streams to savings

For any secondary revenue streams or unexpected payouts – deposit your earnings into your savings account.

Building your savings with small, consistent deposits that add up over time will take you from where you are to where you want to be without making significant sacrifices. And you can start today, no matter your income. If you need help setting up recurring transfers – or you need advice on how much you can afford to set aside right now – call or stop by your local branch for assistance.