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How We Frugal-ed in June 2023

Family Balance Sheet

2 – We opened up high-interest savings accounts and earned $250 in interest. We are in what I call our “shovel season of life” Our oldest daughter leaves for college in the fall of 2024 and we have a big savings goal to hit before then. 6 – Gas points – 60 cents off gas!

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Why Save Money in a Low Interest Rate Environment?

Prairie Eco-Thrifter

Because we only have a week to show results, and because savings account interest rates have been near zero each year since camps started, I have routinely given the jar 50% interest. Trepidation about having the grand-kids open a savings account. Both are now old enough to open a bank savings account.

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10 Must-Know Personal Finance Tips for Moms’ Financial Success

Penny Pinchin' Mom

I had issues with my finances (I almost went bankrupt at some point) until I decided to educate myself. They already have savings accounts that they don’t know about. I send in $50 every month to each of their accounts. I’m not talking about becoming a CPA or a Wall Street guru.

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Best Personal Loans of December 2023

Savings Corner

Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. Rates without AutoPay are 0.50% points higher. Truist Bank is an Equal Housing Lender.

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Financial Lessons for Kids that Actually Worked

Prairie Eco-Thrifter

And they will see that you put money aside in savings. Encourage them to save. Take them to the bank and let them see you make your deposits. Buy them a piggy bank and help them remember to feed it when they can. Let them see your excitement as your own accounts grow and get excited with them as their savings increase.

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How to Save Money Fast – My Top 20 Tips

Penny Pinchin' Mom

Automate Your Savings Now that I had the baseline ($600 a month), the next step was to automate the process. I set up a standing order from my checking account to my savings on the first of every month, still at $600. So, whenever I banked my check at the end of the month, $600 automatically disappeared from my savings account.

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How to Manage Your Personal Loan

Savings Corner

Withdrawing from a checking account is most straightforward because there are no tax implications, as there may be with a brokerage account or withdrawal limits that a high-yield savings account would have. It comes down to your preference, she says, “and maybe just your own discipline.”

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