Establish a Habit of Saving Money | Cleveland Bradley County Teachers Federal Credit Union

The team at Cleveland Bradley County Teachers Federal Credit Union wants to help you make saving money a habit. And now that school’s out for summer, there’s more time than ever to concentrate on building your emergency fund with these tips!

These Habits Make Perfect “Cents”

One of the best ways to start making saving money a habit is to have a certain amount of your paycheck deposited directly into your savings account. Just like when you are dieting, some things are best “out of sight, out of mind.” This holds true when it comes to saving money. If you don’t know it’s missing, then you won’t miss it.

Second, look for areas you can save. Do you usually stop by Starbucks for a cup of coffee every weekday? Cut back to two or three times a week, then tuck the money you saved into your savings account. The same rule of thumb will work for eating out, going to the movies and any other money-eating habits you have.

Third, keep your eye on the prize! Are you wanting to take your family on a Disney trip? Are you looking to own a home in the next five years? What about all the things you want to do when you retire? Set up a dream board, and remember what you are saving for in the first place. This will help you stay motivated when you really get the desire to spend your savings.

And, remember, new habits take time to establish. If you slip and fall, don’t give up. Also, if you do need to dip into your savings because your washer broke or a car tuneup turned into more of an expense than planned, just breathe. That is what your savings account is there for—emergencies. Just pick back up and start building again!

Are you wondering where you are going to keep all the money you plan on saving over the summer? Visit the Cleveland Bradley County Teachers Federal Credit Union website to learn about our savings account options.