There are simple, easy, and regular steps you can add to your routine that will help you find financial peace of mind.
Automatic savings
Having savings already set aside can assist you during life’s little twists and turns.
You can prepare for these unexpected expenses by automatically sending part of your direct-deposited paycheck into a savings account. Consider scheduling automatic transfers between a checking and savings account at times and amounts that help you meet your goals. Even the smallest weekly or monthly amount can add up.
Features like SAFE’s Perfect Cents Savings® can help. We round up your transactions to the nearest dollar and deposit the difference directly into your SAFE savings account each day. Over time, those savings can make a difference.
Mindful Spending
We all recognize that it’s okay to live a little, and that an essential part of financial wellness includes having the flexibility to vacation or treat yourself to a nice meal. However, achieving financial wellness means giving every dollar a purpose that supports your long-term goals.
When budgeting, start with covering essential expenses such as housing, transportation, food, and utilities. After your bases are covered, you can spend your extra money (after savings!) joyfully knowing that your essentials are covered and your savings are healthy.
Pro tip! Give yourself time and space before making purchases to evaluate whether you are truly using your money wisely and with purpose.
Weekly Check-ins
As banking apps grow popular, it’s easier than ever to check in on your accounts anytime from any place using mobile apps.
Dedicate a quiet time each week to see how your savings is growing, where you spent your money, and your progress toward short-term and long-term goals. Use the weekly check-ins to recalibrate your spending and savings plans as necessary. The regular check-ins will also help you keep an eye on your accounts for any suspicious activity.
You can even turn the check-ins into an opportunity to connect with family and teach your children the importance of financial planning.
Save With Purpose
Most people usually have specific large expenses throughout the year, such as property taxes, summer camps, sports leagues, and holiday gift giving. It’s best to prepare for these expenses by saving in advance.
At SAFE, you can open a savings account and give it a name for what the money is for, such as “vacation fund,” “school activities”, “new car” or “taxes.” Route part of direct-deposited paychecks into the account or set up automatic transfers between accounts. This “out of sight, out of mind” approach will pay dividends on your mental wellbeing when it comes time to pay the bill.
Talk About It
Money plays a large role in our lives. Discussing finances as a regular part of daily life can strengthen relationships and promote better decision-making for individuals and families.
Open communication with apartner about finances fosters trust and teamwork as you work together toward your financial goals.
Families with children who discuss money as a matter of fact can help children better understand financial basics and teach them important ways to alleviate future anxieties about money. One easy way to teach your children about money is to open savings and checking accounts. SAFE offers a variety of youth accounts that provide parental oversight, security, and ease of use.
Learn More
Learn more about how SAFE can help quiet your money voice through savings solutions.
