Why Should You Start Saving?
Piggy Bank
 
Saving money is important at any age! Whether you're just starting out, in the middle of your career, or on the way to retirement, your savings can help you handle unexpected expenses and help you reach your goals. With financial challenges like natural disasters and economic shifts, having a financial cushion is key.
 
No matter where you are in life, your savings can give you peace of mind and the freedom to enjoy life without financial burden.
 
ECCU's branch managers share their favorite tips on saving and reaching financial goals!









Saving Tips: Secure Your Financial Future



Stephon Smith
Northwest Community Branch Manager
Set Clear Goals and Determine a Budget

"When creating a budget, many people assume this means cutting out recreational or purchasing pleasures. This psychological barrier can discourage people from creating a budget to begin with. The truth is the leisure of life can be accounted for in the process of reaching your financial goals. When I'm counseling members, we evaluate disposable income after discretionary and nondiscretionary expenses are accounted for. I encourage using this disposable income to enjoy life! Most of the time this does mean setting limits and moderations to ensure their goals are met. This could mean buying new shoes every 3 months, rather than every month or eating out no more than twice a week. The key is to create a budget that is designed specifically for your lifestyle and adventitious to your financial stability."
 
Setting clear savings goals and creating a realistic budget go hand in hand to help you save better. When you set specific goals, you are focused on exactly what you are saving for. At the same time, creating a budget can track your income and expenses to help you develop a schedule to manage your money wisely and help you achieve your savings goals!

Cassie Hayes

Cassie Hayes 
ExxonMobil Campus Assistant Branch Manager
 
Set Up Automatic Deposits
 
"Set up monthly direct deposit or payroll deduction to a High-Yield savings account for any amount your budget allows, even if it is $5! Watch your savings grow without you having to lift a finger or click a button."

Scheduled transfers into your savings account can remove temptation to spend money that could be saved. Saving becomes easier when you don't have to remember to manually move the money in your account. Automatic deposits help you reach your financial goals faster without the hassle of manually transferring your money!

 
 
 
Monitor and Adjust
 
Regularly monitoring your progress is a big help in staying on track with your goals. Tracking and revisiting your goals periodically can ensure that your plans stay relevant and adaptable to life's changes when they arise.

Adjusting your budget or savings strategy as needed helps you use your money wisely and maintain financial stability. This can help you save more effectively and reach your long-term financial goals!

Creating a Budget

 
 Earn While You Save
 
"When looking at the best way to save money, look for savings accounts where you can earn interest back. Nothing is better than earning money while saving money!"

Choosing an interest-bearing savings account can make saving money both easier and faster! The interest earned can act as an incentive to save more, knowing that your money is actively working for you. This not only boosts your savings, but it also provides you a cushion for future financial goals or unexpected expenses.
Philip Mosely

Philip Mosely
Member Resource Center Manager
Find the Right savings Account for You!
 
Energy Capital offers multiple savings accounts that fit to your needs and financial goals. Whether it's saving for vacation, doctor appointments, higher education, or planning a large purchase, we have safe and secure ways to save your money and help you build the life of your dreams!

Interested in opening an account or learning about our savings options?
Visit your nearest branch or call
(832) 604-4848
 
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Save Today for a Better Tomorrow
With an IRA from ECCU