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Four Tips to Help Kick Start Your Savings


Whether it’s a flat tire zapping all of your extra cash or a night out with friends turning out to be a little more expensive than planned—it’s easy for the funds you intend to save to fly off to other places. You know saving is important, but if it isn’t a priority, it probably won’t happen. We want to lay out four easy steps to help you start saving.

  1. Set SMART Goals

One of the best ways to kick start savings and help yourself get motivated is to set SMART goals.

Specific- What is your saving goal? What is your purpose for saving?
Measurable- How much do you need to save to reach your goal?
Achievable- Consider your finances. Can you achieve your goal?
Relevant- Is it a worthwhile goal? Will it keep you motivated?
Time Bound- When would you like to reach the goal?

Whether you want to save up for a down payment on a house, your daughter’s wedding or a dream vacation, SMART goals can help you get motivated. Answer the SMART goals questions and start working to reach your goal.

ēCO has created a goal tracking sheet to help you. Print it out, hang it on your fridge, and start coloring in the lines as you save.

  1. Create a Budget

The B word… don’t run and hide! A budget is simply a plan for your money. When you don’t have a plan, it’s easy for your paycheck to leave your checking account, never to be seen again. Sit down, and make a plan. Be sure you start with how much you’d like to save each month in order to meet your savings goals. You can easily calculate this number by dividing the amount you want to save by the number of months you’ve set to achieve the goal.

  1. Save Automatically

You’ve budgeted for it. Now, save your money without even thinking about it! By saving automatically, you remove the temptation of spending your cash on the latest sale… because when your favorite shirt is on sale for $10—you have to buy it in every color, right? WRONG. When you don’t see the funds entering your checking account, you won’t even miss them!

  1. Open a Financial Fitness Club with ēCO

ēCO wants to help you reach your savings goals. Through the prize-linked Financial Fitness Club—you can set financial goals and be rewarded for saving. In addition to earning quarterly dividends, you can win money for using the Financial Fitness Club Account. When your balance increases by $25 or more, you’ll be entered in a drawing to receive $100. We’ll randomly select five winners every month. And at the end of the year, we’ll randomly select one member whose account increased by $25 or more each month to receive $5,000! Yes—it’s really that simple.

What are you waiting for? It’s time to start saving!

Winners will be selected from among all eligible participants in the drawing pool. Actual odds of winning are based upon the number of eligible entries received.

Account must be opened by August 31 to be eligible for the $5,000 prize.

ēCO employees, their family members, and their direct beneficiaries are not eligible for prizes.

No purchase necessary. Void where prohibited by law.

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