It's wise to establish goals.
Start by making them specific and measurable. Say you want to buy a house — look at prices in your ideal area and determine your down payment. Then establish a monthly savings amount. If it’s not doable, look at the variables. Do you really need a house that big? Is the neighborhood critical? Adjust for reality.
Saving for a home is just one example. Whether it’s a wedding, a vacation or a new home, you can set goals for almost any purchase. Save for one thing or a few.
General savings accounts are great, but saving is easier with specific goals because you visualize the prize rather than the process. Open a Club Account for your specific goal then log in to your Online Banking account to keep track of your progress.
Need help crunching the numbers?
Want to know how much you need to save to buy a new car? Which is better for you, an IRA or a Roth IRA? Use our calculators to help establish your goal amounts.