3 Ways to Help You Save

Often we avoid saving money because we think we’re young and have plenty of time. We feel like we don’t make enough or we’d simply rather spend, spend, spend. The good news is that no matter what situation you’re in, there’s a plan available to help you start saving.

Whether you’re living off an allowance or minimum wage, there are several ways to start. Let’s look at three examples which range from easy or challenging, which assume you work 20 hours a week at minimum wage ($7.25 per hour). Your monthly income would be $406 a month (after taxes). With that in mind, let’s look at how your cash might stack up if you choose to use one of the savings methods we’ll discuss here.

Easy: Budget, Split and Save

Develop a weekly spending budget. This should include money for essentials like gas, food, entertainment and bills (like if you have to pay for part of the cellphone bill). The next time you’re paid, deposit your spending money – based on your budget – into your Checking account. Whatever funds are left – no matter how large or small – should be deposited into your Savings account. The hardest part of this plan is pretending the money in your Savings account doesn’t exist. With a little patience, over time you’ll begin to build a significant savings. Although this method may not be the fastest way to grow your balance, it does allow the most freedom.

Moderate: 52 Week Challenge

Begin by setting aside $1 on week one. On week two set aside $2. On week three set aside $3…you get the picture. Simply add one dollar to the previous weeks deposit for 52 straight weeks.

When you think about the last four weeks of the challenge, it may seem difficult to set aside $49, $50, $51 and $52 each week. However, when you see the figure of $1,378 saved at the end of the year, it may be worth the struggle.

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Difficult: Paycheck Percentage

Using this method, you’ll set 10% of your paycheck which equals $40.60 per month or you could be more aggressive with savings and save 20% which is $81.20 per month. You could start with a smaller percentage and work higher as your pay increases if that makes you more comfortable. The end goal here is as you get a pay increase, the money you put into savings increases too over time.

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As you can see, saving can be easy or challenging depending what method you choose to follow. The bottom line is that you frequently set aside whatever you can into a Savings account with good dividends.

Just pick a plan that works well for you and be sure to stick to it.

Pros and Cons: Summer Job

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As the school year comes to an end, you may be thinking about starting a summer job. If you’re on the fence about it, consider these facts before you decide what you’ll do.

As the school year comes to an end, you may be thinking about starting a summer job. If you’re on the fence about it, consider these facts before you decide what you’ll do.

Pros

MONEY. Let’s begin with the most obvious, MONEY. Having a summer job will help you pay bills, save for a rainy day or simply enjoy a little extra spending money.

EXPERIENCE. You may not realize it, but having a summer job can lead into something more later down the line. Depending on how you position yourself, you may find that while you are gaining experience with a job, possibly in the field you are considering in the future, you are also making connections. They say that “80% of jobs that aren’t posted will be discovered through your network” with other professionals and that is why LinkedIn is a big thing these days. If you do a stellar job, you may score some nice recommendation letters which help you when applying for future jobs or college admissions.

Cons

TIME. While you are working you may be missing out on time with friends, family or even just having personal time for yourself. If you plan ahead, you may be able to schedule time off so that you don’t miss the annual family vacation.

Source
• Smith, Jacquelyn. “7 Things You Probably Didn’t Know About Your Job Search.” Forbes. Forbes Magazine, 17 Apr. 2013. Web. 4 June 2015.

Banking Power with 24/7 Services

Online account management tools have modernized banking by making it greener, quicker and more convenient. Through a secure connection you can pay your bills, transfer funds, review your account balance and much more. Check out how you can keep a tab on your account when you are not close to a branch.

Online account management tools have modernized banking by making it greener, quicker and more convenient. Through a secure connection you can pay your bills, transfer funds, review your account balance and much more. Check out how you can keep a tab on your account when you are not close to a branch.

With a web browser and internet connection, you can save yourself a trip to the branch and take control of your finances. Simply login to NetBranch to review your account, apply for a Loan, transfer money, pay your bills, access eStatements and much more.

FREE eBill Payer**

Did you know you can pay all of you bills, or a person, using FREE eBill Payer within NetBranch Online Banking? Setting it up is as easy!  Simply enter the business or person you want to pay, set the amount and set the date. That’s it, you’re doneIf you are forgetful with everything else you have in life, you can setup recurring payments to avoid late or missed payments. This is your “bill paying assistant” and your best friend to ensure you never miss a payment.

 FREE Purchase Rewards

With Purchase Rewards, you’ll receive exclusive offers at participating stores and restaurants based on your current spending habits. To activate and view your offers, login to NetBranch Online Banking. Past deals have been for Starbucks, Five Guys, Sports Authority, Sears and more!

FinanceWorks allows you to categorize your transactions and set up budgets for future spending.  This user-friendly system will track your activity and send alerts and reminders to help you track your account goals.  You can link accounts you have with other financial institutions too for a complete financial snapshot, all in one spot!

FREE Mobile Apps*

With our FREE App for your iPad®, iPhone®, Kindle® or Android™ device, you have secure account access when you’re on the move. Not only can you check your balances, transfer funds and search for an ATM or Branch, you can deposit checks with FREE Mobile Deposit² and pay your bills with FREE eBill Payer!  See if an App is right for you; check out our Mobile Apps Demo.

FREE Text Banking

Access your account via text messaging. It’s a fast, easy way to get your balances and transfer funds.

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¹Requires mobile Internet access from your device. The trademarks, logos and names of other companies, products and services are the property of their respective owners. ²Airtime and carrier fees per your contract/plan may apply. *Must be enrolled in NetBranch Online Banking and the primary or joint account owner. Use of Apple FCU’s Popmoney service and texting of funds to a mobile phone are FREE. For email transfers, a $1.25 per use fee is required. For direct deposit transfers, a $5.00 per use fee is required. The request money fee is $1.75. Airtime and carrier fees per your contract/plan may apply for funds forwarded to any mobile phone. **Some restrictions may apply.