Saving for Your Loved Ones

Among the most precious gifts we can give our loved ones is security and peace of mind. This Valentine’s Day, we’ve compiled our best savings tips so you can share the love all year long. Plus, learn about our Star Saver program for little savers! 

1. Set Quarterly Goals. Separate your savings goals into quarterly check-ins. Setting smaller, attainable goals that contribute to your overall goal will increase your chances of sticking with it. Plus, quarterly financial check-ins allow you sufficient data to review in order to determine what’s working and what isn’t. If your savings contributions are creating a deficit elsewhere, a quarterly review will allow you to identify those areas and make necessary adjustments.
2. Enroll in Automatic Deposits. In the year 2025, you’re probably already receiving your employment income via direct deposit. But did you know that you can designate specific amounts or percentages from each paycheck to go into separate accounts? For example, you could opt to have $100 of every paycheck go directly into your savings account. Or, maybe you elect to have 20% of every paycheck deposited into your savings account. Whatever amount you designate, the important thing is that you do designate an amount, and that you direct that amount to your savings account. That way, you never see it anywhere else!
3. Celebrate Milestones. What fun is setting a goal if you don’t also determine the reward you’ll give yourself when you achieve it? Savings milestones are a big deal, and you should treat yourself when you reach one! 
4. Commit to a Small Annual Increase. Saving money is one of the best gifts you can give yourself and your loved ones. Commit to increasing your weekly, biweekly, or monthly savings amount by 1% at the start of each new year. Watch as small, seemingly insignificant changes create a big, lifelong impact. 
5. Involve Your Family. Seemingly mundane tasks tend to be more fun with family. There are so many ways to get your spouse and kids involved in a team savings effort, like a quarterly house championship! When it comes to our children, one of the greatest responsibilities we have is to provide them with tools for success. Grand Savings Bank created the Star Saver account with exactly that in mind: giving children the autonomy of their own account allows them to see firsthand how small sacrifices can add up to a big payoff. Learn more about getting your little one started with a Grand Savings Bank Star Saver account today!

Celebrate your loved ones this Valentine’s Day! Embark upon your Live Grand journey today with Grand Savings Bank.