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Savings Account
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Setting aside cash on a regular basis is a habit worth doing. It may seem difficult
or close to impossible to put money back at first, but all it takes is a commitment
to put back each pay period. |
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Experts say to put 10% of your monthly payroll check into a savings account. If
10% is too much at first, do what you can to put some money back at first. Even
a simple $20 weekly regular deposit can grow to $5411.39 in just
5 years. |
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If you want to figure out how much you will save over time including how much you
need to save for college,
click here to use our financial calculators. |
Payroll deduction and Direct Deposit can make saving easy::
- With payroll deduction, you can pay yourself first, just like taxes. This way money
goes into savings before you have a chance to spend it!
- Many employers allow you to directly deposit your payroll check into your account.
Did you know that you can have the credit union take a portion of that and deposit
it directly into your savings account? That is one way to pay yourself
first.
- Many employers also allow allotments or payroll deductions from your pay that can
be deducted from your paycheck and automatically deposited into your savings account.
- Need help starting payroll deduction or direct deposit? Contact Heritage South at
256/245.4776 and we will be glad to help you.
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Here are a few more tips to start saving in addition to payroll deduction:
- Save all loose change in a piggy bank. When it is full you can roll them up and
bring them in to deposit into your savings account.
- Deposit bonuses, income tax refunds, or any extra cash you receive.
- As you pay off debt. Keep making those payments, but deposit them into your savings
account.
- Remember, at Heritage South, your savings account will earn monthly dividends that
are deposited automatically into your account. The more money in your account, the more your dividend
will be.
Do you want to start a savings account today?
It requires only a $25 deposit to open and you will need a valid driver's
license or picture ID to open a savings account. If you are opening an account for
a child, you will need their social security card.
Click here to fill out our secure online request form. |
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