Savings Hacks: Tips and Tricks from a Banker

Are you looking to ramp up your savings efforts?

I’ve put together four tips that can help you save – some have helped me! It’s okay to start small. If you’re only able to implement one or two of the ideas, chances are, you’ll be better off than you are today!

Get the Picture

When is the last time you really looked at all of your accounts? The average American has 17 financial accounts with multiple institutions. When you want to see everything in one place, there’s an app for that! Knowing where you stand financially can make setting savings goals much easier. This can take some time but is worth the effort. Some apps to consider: Mint (; Quicken (

Don’t be Aimless: You’ve taken financial inventory, now set some goals.

Goals should be specific and connect to a timeframe.  For example, I will save $6,000 this year so I can go on my dream vacation without using credit. Now you can take your goal by the month or pay period to see what that would look like and how you will have to adjust your habits to get there. Fewer lattes, maybe. It’s up to you.  Whether your goal is to increase long-term savings to build a nest egg or start an emergency fund, having a goal established will increase your likelihood of getting there.

For most of us, when we get a pay increase, a bonus, or an unexpected windfall, we think, ”Ooh, now I can buy more or upgrade.” However, you can easily make that money, that you have already been doing without, work harder for you. Saving the extra is a great way to boost your savings because it takes virtually no sacrifice.

Change your Mindset.  Saving More is Not Getting Less!

Saving is a gift you give yourself. Why? Because when you do it right, you set yourself up for success – whether that means less debt when the unexpected comes up or having the funds you need to experience things you enjoy, like travel. Less stress can set your mind at ease. Is it worth it to reduce the number of impulse purchases to experience the satisfaction of being able to afford those things you truly value? You be the judge.

Healthy savings habits can be built one small step at a time. Changing your perspective on savings can go a long way toward helping you reach your goals!


Amy Persyn is the Director of Marketing at First State Bank.