Tips to Help You Save More

Saving money is one of the most common New Year’s resolutions people make and also among the most likely to be broken. Luckily, there are a few life hacks you can use to give your finances and savings goals a boost this year.
 
  1. Direct Deposit Your Pay Check – Direct deposit is a free service that can save you time and money by eliminating regular trips to BHFCU. Plus, with direct deposit you can automatically transfer funds to different accounts, like a savings and emergency fund, so you don’t forget.
  2. Increase your 401(k) contribution – Increasing your contribution by even one percentage point can make a huge difference later on in life. Your 401(k) is a convenient way to ensure you save and invest money for the future, while potentially lowering your tax burden.  
  3. Manage Your Subscriptions – Take some time and review any subscription-based services, like Amazon Prime, Spotify, or Netflix, that you are paying for on a month-to-month or yearly basis. Cancel services you don’t regularly use, or consider starting a joint account with family and/or friends to reduce costs.
  4. Audit Your Wallet/Purse – Just like subscriptions, taking stock of your wallet/purse can be a useful way to give your savings goals a boost. You may be surprised to find extra money on unused gift cards, discount cards and even coupons. If your wallet/purse is stuffed with credit cards, remove and safely store the cards you don’t regularly use. It’s safer, more convenient and could help you spend less. 
  5. Use A Rewards Card – With BHFCU’s VISA Rewards Credit Cards you’ll earn points on the purchases you make every day. You can redeem those points for travel, gift cards, entertainment and more. Plus, Apple Pay is now available for all BHFCU Debit and Credit Cards, which makes shopping online or at your favorite store simpler and more secure.
  6. Set Up Account Alerts – With Online and Mobile Banking from BHFCU, you can set up account balance and transaction alerts that are sent directly to you by text or email. This can help you manage your accounts and stay on track with your savings goals.
When it comes to saving more and spending less, falling back into old spending habits is common. That’s why it’s important to put the tools at your disposal to good use early on. BHFCU is here to help you get started. Stop by your favorite location or call 605-718-1818 to learn more about how we can help you achieve your savings goals this year.