If you started 2018 with a goal of sticking to your budget so that you can save more, evaluating how you are doing a few weeks into the year is key to make sure you remain on track. Take a few moments now to consider if you are meeting the savings goals you set back in January. If you find that you are having trouble maintaining your financial discipline, the following tips can help you shore up your budget and increase the dollars flowing into your savings account:
1. Review your savings goals. Although it may have been a few weeks ago, think back to the reasons that fueled your savings resolutions. Maybe you need to save for a new car, a new home, your child’s college education, or you want to enjoy a debt-free vacation. Reconnecting with the “why” of your savings goals can help re-energize your focus on achieving them.
2. Automate your savings routine. One of the easiest ways to make sure you add to your savings each month is to set up an automatic transfer from your checking account to your savings account. OSB’s online banking tools—especially the mobile banking app—make this easy to do. Simply set up a recurring transfer each month so there are no excuses for not executing your savings plan.
3. Choose a bank account that helps you save. While having a handle on what you are spending is certainly helpful, so is having a bank account that also supports your savings. For example, OSB’s Advantage+ Checking Account pays you interest—money that can help your savings grow over the long term.
4. Take advantage of loyalty rewards and other savings programs. Spending less than you earn is the cornerstone of any successful savings strategy. One way to lower your monthly spending and keep your budget in check is to take advantage of money-saving reward and discount programs that can help lower the cost of necessary expenses. OSB’s Advantage and Advantage+ Checking Account holders can save with the following benefits:
- $hopping Rewards™ As a member of OSB’s Advantage and Advantage+ Checking accounts, you have access to our $hopping Rewards program, where you have access to exclusive offers and discounts at thousands of leading online retailers including these* and many more:
Once you complete the online registration for the $hopping Rewards program, you can simply shop at your favorite retailers online using the customized shopping portal and you will receive cash back. Your cash back rewards will be held in your $hopping Rewards account to use toward future purchases or they can be conveniently sent to you as a check. (Registration/Activation Required. Available Online Only). *Retailers are subject to change.
- Cellular Phone Protection2 Covers the first three phones (four phones with Advantage Plus Checking accounts) listed on your cell phone bill that is paid through your Advantage or Advantage+ Checking Account you’ll receive up to $300 of replacement or repair costs ($400 with Advantage Plus Checking) if your cell phone is stolen or damaged, in the United States and abroad. There is a maximum of two claims per year.
- Accidental Death & Dismemberment Insurance2. As an account holder, there is no need to spend your hard-earned dollars on AD&D coverage. You will receive (at no additional cost) up to $10,000 24-hour Accidental Death & Dismemberment Insurance. (Coverage divides equally on joint accounts and reduces by 50% at age 70). Advantage+ Checking Account holders receive up to $20,000 24-hour Accidental Death & Dismemberment Insurance.
- Health Discount Savings (This is NOT Insurance). Medical bills can add up! With savings on vision, prescriptions and dental services you can lower your health-related expenses. (Registration/activation is required.) This is NOT insurance.
Don’t let your 2018 savings resolutions fall to the wayside! Recommit to your budget and your savings goals. A great way to keep more money in your bank account is by using the money-saving benefits offered with OSB’s Advantage or Advantage+ Checking Accounts. See full details on all the benefits of OSB’s Advantage or Advantage+ Checking Accounts on our website. Contact your local branch today to open an account and let us help you achieve your savings goals!