Lesson Simple Savings Strategies Behavior Based Saving Strategies Establish a savings goal Become a member of a Bank Credit Union or MatchedSavings Program Pay yourself first Make saving automatic ID: 657561
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Slide1
Behavior Based Savings Strategies
Lesson: Simple Savings StrategiesSlide2
Behavior Based Saving Strategies
Establish a savings goal
Become a member of a Bank, Credit Union, or Matched-Savings
Program
Pay yourself first
Make saving automatic
by splitting your direct deposit
Signup to receive “nudges” such as emails and text messages
Take advantage of employer based savings programs such as
Save for Tomorrow
. Slide3
Establish a savings goal
According
to the
CFPB
– “Setting financial goals is important, and building savings towards those goals is one of the best ways to achieve them.”Slide4
Become a member of a Bank
, Credit
Union
, or
Matched-Savings ProgramSlide5
Pay yourself firstSlide6
Make saving by splitting your direct deposit
Consider split deposits between checking and savings accounts
Consider splitting savings into a savings account at a different financial institution than your checking
accountSlide7
Signup to receive “nudges” such as emails and text messagesSlide8
Take advantage of employer based savings programs such as Save for Tomorrow
Take advantage of employer based savings programs such as
Save for Tomorrow
.
Such
programs allow you to maintain your standard of living while defaulting pay increases or windfalls into a dedicated savings account.