YOUR MONEY TOOLBOX

Savings season: Small Changes, Big Wins

A Fresh Start for Fall – Refocus on Savings Habits

As summer winds down and fall begins, it’s the perfect time to hit the refresh button on your finances. Even small adjustments can lead to big wins when it comes to building a savings cushion. Whether you’re planning for unexpected expenses, a future vacation, or just peace of mind, now is the time to take control of your money.

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Easy Ways to Build a Savings Cushion

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Creating a financial safety net doesn’t have to be complicated. Start with simple steps:

• Start Small: Even savings $10-$20 per week adds up over time.
• Separate Accounts: Keep Savings for specific purposes and/or goals in separate accounts to avoid accidental spending.
• Emergency Fund First: Aim for at least $500-$1,000 initially to cover unexpected costs.

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Set Up Automatic Transfers

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One of the easiest ways to grow your savings is to make it automatic.

• Direct Deposit or Recurring Transfer(s): Schedule a set amount to move from checking to savings on payday.
• Pay Yourself First: Treat your savings contribution like a bill—non-negotiable and consistent.
• Incremental Increases: Gradually raise your transfer amount when you get raises, pay off debts, or reduce expenses.

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Find Hidden Savings in Everyday Spending

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Small habits can free up extra money without cutting out the things you enjoy:

• Pack Your Lunch or Coffee: Simple swaps can save $5-$10 a day.
• Review Subscriptions: Cancel or pause unused services.
• Shop Smarter: Use store apps, coupons, or buy in bulk for items you use regularly.
• Energy Savings: Turning off lights, or adjusting thermostats saves money and energy.

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Quick Builder’s Savings checklist

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• Start with small, consistent savings contributions
• Automate transfers to making saving effortless
• Identify everyday spending habits to free up extra cash
• Reassess and adjust savings goals regularly.

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Bottom line: Building a savings cushion doesn’t happen overnight, but small, consistent changes can make a big difference over time. This fall, commit to small wins in your spending and savings habits—and set yourself up for financial confidence year-round.