Fortunately, creating a guaranteed savings insurance plan you can stick with is easier than you think. Even if you’ve tried it before, there is an easier way to achieve your savings goals. Here’s how.
Open an interest savings account
Your best bet is to look for a free savings account that pays you interest, such as Aurora Bank’s high capital savings account (Equal Housing Lender, FDIC member). These account types charge no commission (once you hit the $ 500 minimum balance) and have competitive interest rates that are available online, if not better than some of the market savings account rates you will find at your local bank. Plus, you can link your savings account to another type of account (such as checking account) for added overdraft protection, helping you avoid those pesky bank charges.
Track your progress while saving
One of the best reasons to open a savings account is that you can track your progress while continuing to save. You can do this by checking your account statement every month when it arrives in the mail, or by checking it online at any time if you have an online bank account. Remember, once you hit a certain balance, you will start earning interest on your savings as well as compounding interest.
I dare to save
One of the best ways to grow your savings almost automatically is to make savings plan hong kong by going directly to your savings account. Even a small amount, for example 10%, can add up month after month. Also, remember that you will benefit from the compound interest added to your account every month, making it easier to reach your financial goals even sooner than you think.