Savings strategies that any family can follow
published on 01/31/2013
America Saves Week February 28-March 2
Saving money doesn’t have to be a daunting task. In fact, it’s the little things that make the biggest difference when it comes to improving your financial health. Take it one small step at a time. Adjusting one spending habit slightly – like putting all your coins in a jar or skipping that morning coffee once a week - can bring in big savings.
RCB Bank’s Customer Service Reps Robert Gettings, of Oklahoma City, and Terri Ross, of Pryor, along with AVP Corporate Retail Coordinator Jenni Pilgrim, of Claremore, share their personal savings strategies.
“I give myself an allowance each week in cash.” If I run out before the week is over, I’m out of money. If I have any extra money left over, I put it back into my savings, not my checking. Another thing I do is bring my lunch everyday instead of going out; Saves at least $5 a day.”
- Robert Gettings
“I drink water instead of soda when I go out for a meal which saves quite a bit of money. Restaurant food portions are often larger than one person should have, so I occasionally share a meal with whomever I’m dining out with if they share the same savings and improving health goals. It’s a win, win!”
- Terri Ross
“I coupon for groceries and household items. Sounds like a lot of work, I know, but it really isn’t. I visit Moneysavingqueen.com to get local daily coupons, money saving tips and meal planning ideas. It’s a great resource. I also grab the Sunday paper and clip coupons for products I use.”
- Jenni Pilgrim
Motivation to Save. RCB Bank employee Sarah Smith, of Pryor, says her family saves money by putting all their coins in a jar, which they will use to fund their upcoming vacation to Sea World.
Set your savings on auto-drive with online banking, a no-sweat savings tool that can help you enhance your financial wellness. Use it to set up automatic money transfers from your checking to savings, like the money earned from your RCB Bank my Cashback checking account or other rewards cards. You can schedule automatic one-time or recurring bill-payments so your bills are paid on-time, every time, saving you from costly late fees. You can also set up email alerts to remind you when bills are due, account balances are getting low or your paycheck comes through. RCB Bank’s online banking program even allows you to set up custom alerts, including birthdays and anniversaries so you can have help remembering to bring home flowers.
“I use online banking to save money by setting up automatic transfers from checking to savings and save a certain amount of money from each paycheck.” - Robert Gettings
“I use online banking to save money by not having to write checks or pay postage. Goodbye to stop payment fees for lost checks in the mail and late fees for checks that arrived late.” - Terri Ross
“I use the online banking check feature to save money. I have one bill that has to be mailed each month; the company doesn’t accept electronic payments, so I set up a monthly online auto-check payment and the check is mailed on time every month. I’ll never have to pay another late fee because I forgot to mail the check.” - Jenni Pilgrim
To learn more money savings tips, ask your friends what they’re doing to save or stop by any RCB Bank branch and ask us. We’d be happy to share our personal savings strategies.
Americasaves.org – Free financial tools, saving services and resources to help Americans
The Federal Trade Commission – Read 66 ways to save money.
The FDIC – Free Money Smart computer-based education program is an easy-to-use tool to learn more about basic personal financial management.
Opinions expressed above are the personal opinions of author Jocelyn Wood and meant for generic illustration purposes only.