Build my savings
We’re here to help you save with a purpose, automate your savings, and build strong financial habits for your peace of mind. We care about your success, and our mission is to provide the tools and personalized guidance you need to create a secure and stable future.
Why are savings important?
Savings are the backbone of your financial health. They provide a safety net that you can build upon for your financial goals and needs.
Emergencies
Unexpected expenses can come out of nowhere. Having a little bit of extra money on hand can help you out in a pinch.
Big expenses
Want to buy a new TV or travel the world? Building a savings plan will help get you to your goal.
Earn interest
Did you know your money can make money? Earning interest on your savings is a great way to compound on strong financial habits.
How much savings is enough?
It depends. What are your monthly expenses? Do you have any debt? What are you saving for? You don't need to answer these now, but these questions can help you decide how much you need to save and where to put it. That said, there are some general rules to help you get started.
Emergency Fund
Many financial experts recommend having 3 to 6 months worth of expenses stashed away in emergency funds. This can help you sustain yourself during periods of financial turbulence. Keeping these savings in a liquid account makes a lot of sense as you'd want to be able to get access to these funds right as you need them.
Retirement
Saving for retirement is a little bit different, as this is more of a long-term goal. Some experts recommend trying to put 15% of your yearly income towards retirement. If that's not feasible for you, start small and try to work your way up. Many employers will also offer to help contribute to your retirement, so take advantage of that if you can!
Savings calculator
Your mattress is great for sleep, but your money deserves a better home.
Savings Accounts: simple accounts that store your money where you can access it at any time, but it usually doesn't offer much interest
High-Yield Savings: offers higher interest compared to regular savings accounts, though there might be certain requirements to earn that high interest
CDs/Certificates of Deposit: locks in your savings for a set period of time, will usually have high interest rates
Money Markets: usually rewards higher balances with strong interest rates
Saving With A Purpose
Saving with a purpose is the secret to making your goals a reality. This Coach session will help you set concrete savings goals and show you how much you need to save every month to reach them. To begin the Coach session, select Get Started. Next, follow along, answer questions, and provide information when asked.
A certificate ladder involves opening multiple share certificates with different maturity dates, giving you access to some of your money at different intervals. This can help you avoid paying a penalty for accessing your money early. This is a strategy in which you invest in certificates of different terms and roll the money over into a new certificate or withdraw it after each one matures.
check share certificate of deposit rates open a certificate of deposit
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