Automated Savings: A How-To Guide

Your savings account can be difficult to manage.

We know all too well how much focus and attention it can take.

But what if there were some options for making your efforts a bit less complex? Here’s where employing an “automated savings” can help scale back concerns tremendously.

Technology has grown a great deal over the past few decades, and that’s likely no more apparent than in the number of automated services we have access to.

Below, we delve into a few of these options and how they can lessen your time spent dealing with savings efforts.

Direct Deposit

The first step to a more automated savings account is setting 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 the alternative. You can have it deposited right 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 the deposit to go into a number of different account increments that you designate. It eliminates the final step noted above, which makes for an even more automated savings experience.

Help From FitnessBank

You can even set it up for your bank account to auto-transfer funds from within your checking account to another account, i.e., your savings. But if this is too automated for your tastes, you can always go in and do it manually at your leisure.
This is only the start of your possible 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.