Automatically Saving for Your Future: How to Get Started

Automated savings are a great way to build healthy money habits and plan for the future. No matter how small or large your income, setting up automatic transfers from your paycheck or credit union is a helpful tool for anyone looking to build their savings. Let’s look at the benefits of automated savings, ways to incorporate it into your money habits, and tips to help you stay motivated.

The Benefits of Automating Your Savings

Automating your savings offers a number of advantages. For one, it takes the guesswork out of saving. When automated transfers are set up, you don’t have to remember to manually transfer funds every month. You can also choose how much you want to save each month – whether it’s 10% or 1%. Beginning with a smaller amount can help you get used to having less in your spending account while still putting away funds for future goals. Plus, if you have direct deposit set up, splitting it into multiple accounts makes it easier to save without feeling deprived.

How To Incorporate Automatic Savings into Your Money Habits

If you’re just getting started, setting up an automatic transfer from one account (e.g., checking) into another (e.g., savings) is a great place to begin building good money habits. This could be as little as $10 per month initially; no amount is too small when it comes to saving! You can then gradually increase this amount over time as your budget allows. The ACU Performance Saver or Christmas Club accounts are great options for setting aside funds each month to use for a specific goal AND they earn a great rate on your savings.

Overcoming Mindset Blocks & Negative Self-Talk

Saving automatically can take some getting used to – especially when mind blocks or negative self-talk creep in saying things like “I need every penny I make” or “It doesn’t matter how much I save anyway” or “What if there’s an emergency and I need that money?” These thoughts can be paralyzing but they don’t have to be! By replacing fear with facts (like remembering that even small amounts add up over time), understanding what motivates us financially (for example tracking our progress towards financial goals), and seeking support when necessary (seeking out an experienced financial advisor who can help navigate these feelings), we can push through these blocks and confidently move forward with our automated saving plans despite any nagging doubts we may have along the way!

When it comes down to it, automating your savings is an easy and effective way to ensure that you are actively preparing for the future without having to do extra work every month. By taking advantage of tools such as direct deposits splits, automatic transfers from one account into another, round-up apps, and more; you will not only be helping yourself now but also in years down the road! And by keeping mindset blocks at bay with positive self-talk and support from financial professionals when available; there’s no reason why anyone couldn’t start automating their savings today!

So, if you’re ready – let’s get started. Contact us today to setup an automatic transfer or open a new savings account to reach your goals!