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Three easy ways to save money

One common phrase dominates conversations.

“I keep saying that I’m going to start saving, but I always forget. I wish I had started saving sooner.”

Sound familiar? Trying to save can be tough. A lot of times it feels like we can’t afford to save; there’s just not enough left over in the budget. But paying yourself first is so important.

Here are three easy ways to help you get started to meet those savings goals.

Open a savings account. Open a savings account and set up a portion of your direct deposit to go straight into the savings account. If we wait and say, “Oh, I’ll transfer some into savings each check after I pay my bills,” most of the time we either forget or have overspent and there’s nothing left to transfer. By setting aside a portion of your paycheck to go directly into savings on the front end, you usually don’t miss it once you get paid, and now you have something building for a rainy day.

Set a goal. Whether it’s for Christmas, a vacation, or a new big screen TV, setting a goal will help you stay on track and focused. Pick your goal, print a picture that represents it, and tape it to a big jar at home. When you get home each day, add your leftover cash into the jar… a few loose $1 bills, a $5 or $10, and even your leftover change. It all adds up.

Take advantage of your company’s benefits. Most companies offer retirement plans: 401K, 403B, SEP, IRA, etc. Learn what your options are and set a portion to be direct deposited from your paycheck. Most companies offer a percentage to match your contribution. (That’s free money!)

For more financial tips, visit your local credit union. HealthNet Federal Credit Union has proudly served Baptist Memorial Health Care employees and the health care community throughout the Mid-South for more than 60 years.

For information about the credit union, please call 901-226-1111 or visit

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