5 Ways to Spring Clean Your Savings
It’s that time of year again: Time to clean out those closets, polish that furniture and clear out that clutter! Spring is also the perfect time of year to review your saving habits and spruce up your saving goals.
Here’s how to spring-clean your savings in five easy steps.
Assess your saving habits
First, take stock of how much you’re putting into savings each month. If you believe you should be setting aside more of your monthly income toward savings, look for ways to cut back on your discretionary spending.
Spruce up those savings!
Consolidate and simplify accounts
Next, take a look at the places you keep your money. If you have multiple savings accounts, retirement accounts or investment accounts, consider consolidating them to streamline your finances and reduce the hassle it takes to manage them all. Be sure to compare fees, rates and other features before making changes.
Clean up those accounts!
Reevaluate your financial goals
What are your long- and short-term saving objectives? Do you still want to go after them? If not, consider setting new ones. Think of your future wants and needs, as well as small pleasures you’d love to enjoy in a few years, or even in a few months.
Get those goals sparkling!
Automate your savings
Now that you have your saving goals clearly defined, it’s time to make it happen by itself. Set up automatic monthly transfers from your checking to your savings account(s) so you never forget to feed your savings.
RGCU Make the Change is an easy way to automate your savings. Basically, you turn your spare change into savings.
Use a savings app
Bring your savings into the 21st century with the power of a savings app. You can choose from any number of money management apps, like YNAB, which will allow you to track your savings, review and analyze your spending habits and help you stick to your budget without fail. Taking your savings to the digital level will make you more likely to stick to your goals.
Spiff up those saving apps!
Spring is in the air – it’s time to make your savings sparkle!
RGCU Savings Accounts
RGCU offers our members multiple savings options for whatever plans you may have. Whether you are saving for a vacation, or just want to put some money away for a rainy day, we are here to help!