Five More Ways to Save

Bank any extra income

Anytime you get a raise at work, put the extra into your savings account. Finished paying off a loan for a car, a credit card or furniture? Keep paying that same amount into your savings account. Same with your tax refund.


Keep separate accounts

To keep your savings safe from an easy raid, set up your rainy-day fund at a separate institution than your checking account. It’s more difficult to dip into the funds this way, keeping your hard-earned rainy day money safe for an emergency.


Stash your spare change

The coins that gather at the bottom of your purse or in your jean pocket adds up. Empty it out and save it. If your budget allows it, gather up the dollar bills left at the end of the day and put that into your rainy-day fund. It adds up quick!


Kick those vices

Whether you’re a smoker or addicted to your quad venti latte, they could be costing more than just your good health. An average of $5 spent every day on vices such as these could add up to $1,825 in a year. That’s a lot of moo-lah!


Write it down

Got a goal for your savings or a monthly budget in your head? Write it down. Need help? Travis offers free seminars on how to build budgets and our online banking app, MyInsight, to help members plan their financial futures. See the seminar schedule at

MyInsight Calendar


The Idiom “saving for a rainy day” has been around for some time

In fact, the saying comes from an Italian comedy, La Spiritata by the Florentine playwright, A. F. Grazzini and written in 1561. The adaptation years later by John Lyly was known as The Bugbears.

If this has been around since the 16th century, there must be truth to it. Why not join in and put a little away for a time when you might need it.

It’s important to set aside money, not only for emergencies, but for major expenses such as: education, homes, cars, and eventually retirement. Most financial advisors recommend at least the following:

  • Have enough savings to cover three months of rent and expenses
  • If possible, set aside 25 percent of your income each year for emergencies, big purchases, and retirement.

For many, this seems impossible. Nearly 47 percent of Americans at every income level don’t have $400 in savings.


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