How much money do you have tucked away? If your answer is little to nothing, you’re not alone. The fact is, most people don’t focus on saving – they focus on spending. One way to save more is to have more than one savings account. How does this work?

Use different savings accounts for different purposes. By establishing goals for each savings account, you’re more likely to save. Think about it. If you want to save for a vacation, and you have a savings account set up for that purpose, how much more likely will you put money into that account? You know how much you need and you save to reach that goal. Maybe one account is your emergency savings account and another account is for a new car. By assigning goals to each account, you’re more likely to save.

Take advantage of specials and save even more. Belgrade State Bank’s “Statement Savings” waives the $5 monthly maintenance fee when a $50 balance is maintained. The bank also offers Certificates of Deposits (CDs) with higher interest rates as well as special savings accounts or Kids or even Christmas budgets!

Set up automatic deposits. A great way to save, especially when you have multiple accounts, is to set up automatic deposits from your paycheck into your savings accounts. This way, you won’t be tempted to use the money you have slated to save.

Manage your accounts in one place. Take advantage of money management tools available to manage your savings accounts in one place. Set up financial goals and then track your progress every month. You can see how far you’ve come — and where you need to work a little harder. You can actually manage these accounts straight from your cell phone via the Belgrade State Bank mobile app!

Saving money can become a habit, and this is a good thing! Do your homework to find accounts that will give you the most bang for your buck. Establish goals for each account and see the results you want.

To learn more about the savings accounts available Belgrade State Bank, click here or call you local branch.

Information is for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author.