Automated Savings: A How-To Guide

Your savings account can be difficult to manage.

We know all too well the focus and attention it requires.

What if there were options to make your efforts less complex? Here’s where  “automated savings” can help.

Technology has advanced a great deal in past decades, and one huge advance is the number of automated services to which we have access.

Here are a few of options that can lessen the time you spend dealing with savings efforts.

Direct Deposit

The first step to a more automated savings account is to set up direct deposit. This is when your employer sends your income payments to your account digitally, eliminating the need for paper checks. You tend to receive access to the funds much quicker than alternatives. You can have it deposited directly into your checking account. From there, send the portion you’re putting away into your savings.

The beauty here is that the deposit doesn’t have to go into only one account. You can schedule portions of the deposit to go into different accounts designated by you. That eliminates your manual transfers, which ensures an even more automated savings experience.

Help From FitnessBank

You can even set up your bank account to auto-transfer funds from your checking account to another account such as your savings. But if this is too automated for your tastes, you can always do it manually at your leisure.

This is only the start of potential savings improvements. At FitnessBank, it is our goal to keep you informed on all possible financial support. And if you’re looking for help on home loans, you’ve come to the right place. Contact us today to learn more.