First Commonwealth Bank is celebrating America Saves Week from Monday, February 24 to March 1 by providing you all the information you need to start saving today! The theme for 2014 is more than just a theme; it’s the essence of a sound approach to saving, designed to help you take financial action. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal.
Set a Goal
You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal.
So, what are you saving for? An emergency fund. A home. Retirement. A Car.
Below are some tools to help you get started!
- Family Savings Goal Worksheet
- Savings Goal Sheet
- Establish Good Saving Habits
- Money Saving Tips
- Several Calculators to assist you in determining how much you can save for college, a major purchase, retirement and more
Make a Plan
Once you have your goal in place, make a plan for how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.
Don’t forget to keep your savings safe, secure and growing. First Commonwealth Bank has a variety of financial products that can help you save.
Below are links to tools to help you Make Your Plan:
- A Self-Guided ‘Web Tour’ to Building a Better Budget
- Monthly Budget Sheet
- Spending Diary
- Detailed Monthly Budget Worksheet (Word document)
- Detailed Monthly Budget Worksheet (PDF document)
- Personal Savings accounts for all, including our Tower Savers Savings accounts for the young savers
- Plus, 112 community offices that are waiting to answer your questions regarding our savings products
It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Many employers allow you to divide your paycheck into different accounts through direct deposit. Take advantage by putting part of your pay into savings. If you get paid in cash, take a small amount to the bank to deposit into a savings account each week.
First Commonwealth Bank has the tools to help automate your savings.
- Our new Online Banking tool allows you to transfer funds from your checking to your savings automatically or on the go. Click here to watch short demos on how Online Banking can help you reach your savings goal.
- Access to 20 coin counter machines. Turn your loose change into a monthly savings deposit.
A Commitment to Financial Education
Financial Education is one of the ways First Commonwealth Bank delivers on its promise to be a responsible community bank, by putting customers and our communities first. We understand that we all need the guidance of a trusted financial institution when it comes to managing money and making healthy financial decisions.
About America Saves
America Saves is an initiative of the Consumer Federation of America involving more than 1,000 non-profit, government, and corporate groups that encourages individuals and families to save money and build personal wealth. America Saves Week is coordinated by America Saves and the America Savings Education Council. Visit americasavesweek.org to join or learn more.