5 things to consider saving for this year

Saving for some people creates negative emotions or a not so thrilled response. While saving loosely impacts how we spend money today, it further secures our tomorrow – which is what’s most important. Maybe you’ve tried several different saving methods and they worked for a while but you lost traction. No matter what previously happened, you have the ability to start fresh with SmartyPig.

SmartyPig gives you the ability to set up a high-yields savings account in the matter of minutes, set personal savings goals and recurring contributions so you never lose sight of your financial footing. Check the tips below as a starter list that can be used when thinking about how you can incorporate SmartyPig into your financial toolkit.

EMERGENCY FUND

Before saving for the ‘fun’ things – we have to be financially responsible first! Establishing an emergency fund to cover medical bills, hefty car repairs, home mishaps or a swift change in employment can be easier to deal with when there’s money set aside. Even if you already have an existing emergency fund, creating another can only help ease your mind when unexpected expenses arise.

DISCRETIONARY FUND

One day of takeout can easily turn into an entire week and your random impulses to online shop can remain in budget as long as it’s planned. Flexibility is what we all need and SmartyPig provides the platform to adjust your savings goals and contribution amounts as much (or as little) as you want! You have the ability to control all of your savings goals and can update them anytime.

SELF-CARE FUND

We all need and deserve ‘me’ time. Whether that’s an impromptu road trip, dining at your favorite restaurant or having a complete spa day – you can care for yourself and your wallet by having your own self-care savings account. There’s no better way than to remain in zen mode when your mind, body and money are all on one accord.

VACATION FUND

Want to have some guilt-free fun in the sun? Start saving for your getaway now! Not only does this give you something to look forward to, it actually starts (or reinforces) a healthy habit the ‘save then spend’ approach. There’s no need to use your credit card and rack up Interest fees when you can throw money into this account as often as you’d like with no restrictions.

DEBT PAYOFF

There are quite a few methods that can be used to pay off debt. Actually being able to see the amount increase over time based on your contributions can create a momentum surge –further motivating you to save even more.

SmartyPig has the capability to set savings goals that work for you. Get started today.

SmartyPig Accounts are offered through Sallie Mae Bank, Member FDIC.

The Finance Bar was compensated by Sallie Mae for providing this content.

All opinions expressed herein are our own.

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About

The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through coaching, education, and an innovative learning hub on wheels. Creator Marsha Barnes is a Certified Financial Social Worker, Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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