We previously guided you through the importance of teaching children how to save, but is it time for you to take your own advice? It never hurts to have a few reminders on how small changes can make a big difference in your bank account in a matter of weeks.
Here are 3 quick ways to save for any occasion, and 3 additional ways Horizon can help simplify the process now and for the future:
Save on food Did you know the average American family spends $151 a week on food? Imagine saving just $10 a week — easily doable with coupons and slightly scaling back. Doesn’t seem like much now, but that equates to more than $500 over the course of a year.
Save on entertainment Let’s say you budget $40 a week on entertainment — dinner and movie, perhaps. Instead of heading out every weekend, why not spend an evening in once per month? Saving $40 per month adds up to an annual savings of $480.
Save at work One common routine at work is the run to a vending machine, a daily ordeal that seeps away $1 at least five times a week. The decision may be sugar-coated, but it’s also pricey. Doing that every workday for 50 weeks (given two weeks of vacation) adds up to $250 annually. Take a snack from home instead.
These simple decisions can net you a pretty penny. Horizon Bank can help with a few other ways to save. You may already have a Horizon Bank savings account, but that’s only the beginning.
Horizon helps you save for a holiday
Did you know that Horizon Bank offers a Holiday Savings Account? It’s free and could help you when the holiday shopping season rolls around. The account is free with minimum contributions each month and you can open it at any time – set aside money monthly and when November hits, you’ll receive a check or automatic deposit with your holiday nest egg.
Perfect for: Gift-giving, large seasonal purchases
Horizon helps you save for a goal
Horizon Bank offers a target savings plan, which will help establish and meet savings goals. Automated transfers handle the grunt work, leaving you to save without constant maintenance.
Perfect for: Long-term goals such as down payments, vacations
Horizon helps you save for retirement
There are a variety of Individual Retirement Account (IRA) choices offering you the ability to save tax-free or tax-deferred for your retirement. The savings these tax advantaged accounts can offer you can be quite substantial, and Horizon can help make sense of it all.
Perfect for: Living comfortably after age 65