|
 Imagine how much $600 could grow in savings certificates, Christmas club accounts, money market or vacation club accounts over time. Saving money is a smart financial decision with countless benefits for your life, such as helping you achieve your long-term financial goals, build wealth and create a cushion for unexpected expenses. However, saving can be challenging, especially if you don't have a plan in place. Inflation and increased costs of living have taken a toll on many Americans’ savings, as they’ve had to use more of their paychecks to cover basic expenses. That's why we're going to break down how a few low tech/no tech savings hacks can help you save more than $600 over the course of one year.
St. Anne’s Credit Union Savings Tool List
How to Save More Than $600 in One Year
 Saving money can seem daunting, especially if you're living paycheck to paycheck. However, even small amounts can add up over time. By saving pennies throughout the year, you can save more than $600 in one year. Here's how:
- One-Cent Saver Printable: Download our One-Cent Saver Printable to help you keep track of your savings. The One-Cent Saver is a simple table that helps you to keep track of how many pennies to save each day.
- Start with a penny: On the first day, put one penny in a jar or piggy bank and cross out the “$0.01” box on the One-Cent Saver. On the second day, put two pennies in the jar and cross out the “$0.02” box on the One-Cent Saver. On the third day, put three pennies in the jar and cross out the “$0.03” box on the One-Cent Saver, and so on.
- Keep going: Keep adding pennies to the jar each day for 365 days. One year after you started, you'll have saved $667.95!
- Make it a habit: Saving money should be a habit, not a one-time thing. Set a savings goal for each year and make a plan to achieve it. It's important to make saving a priority and to be consistent with your savings plan.
Saving money is an excellent financial habit that can help you reach your financial goals, build wealth and create an emergency fund. By saving pennies throughout the year according to the steps on our One-Cent Saver Printable, you can save more than $600 in one year. Then, once you’ve saved a good chunk of change, invest it into local bank accounts that will help those savings continue to grow such as St. Anne’s Credit Union’s current CD/IRA special! With dedication and consistency, you can achieve your financial goals and build a strong financial future.
Download and print our One-Cent Saver for free, start saving now, remember to make saving a habit and set a savings goal for each year.
Similar Financial Literacy Content:
|
