All Financial Education

How to Save for the Future

February 20, 2020

America Saves Week 2020|USA country outlined with America Saves Week text

Saving is an important key to achieving financial success, but it can be hard to do when there are so many urgent wants and needs. Here are a few ideas on why and how you can save.


Have you ever been in a bind? In that moment, it was probably clear why a savings was valuable. If there was no money in savings, it increased stress and worry. A savings allows for greater flexibility, confidence, and peace of mind now and in the future.

It seems that most people want to save. The hard part is knowing how.


Make a clear plan. 

What are you saving for? How much is it? How long until you need it? How much do you need to save per day, week, or month to get that goal?

Spend less than you make. 

It is said that there are two ways to make money: make money, and don’t spend money. Deciding how much to save is important, but deciding what not to buy is also important. It doesn’t matter if you make one million dollars, you could still be the poorest man if you spend more than you make.

Open a savings account. 

savings account can be a great way to start. Read more below about some of the savings account promos we have this week.

Set up automatic savings. 

Did you know that you can save money automatically? For instance, if you sign up for ICCU’s Central Cents plan, every time you swipe your debit card, that transaction will round up to the next dollar and put those cents in a Central Cents account!

Set up automatic transfers. 

You can also preauthorize automatic recurring transfers from a checking account to a savings account through eBranch. Transfers are so easy to set up, and you choose the amount and frequency!

Hide the account. 

Some people are tempted to dip into their savings if they can see it. Did you know that you can hide accounts from view on eBranch? This will make it easier to save because you will not see the money readily available, but it will still be there.

Deposit raises, bonuses, and tax refunds into savings. 

You are used to living on the income you make. That means that any raises, bonuses, and tax refunds could go into your savings and give an extra boost to your savings total.

Plan as a family. 

Finances affect everyone in the family. Work with your significant other to make smart financial plans and share those goals with your children, even when they are young. Children can learn smart money habits from their parents and be better prepared with financial sense.


Sometimes it can be hard to save when there is still debt to pay. What do you do?

— Pay off credit card debt with a debt payoff plan, paying off the highest interest card first.

— Consolidate credit cards to one credit card with lower interest.

— Start saving small amounts along the way to get in the habit. Even $1 per day. You can save more aggressively after your debt is paid off.

— Some debt is normal, such as mortgage loans, school loans, and auto loans. You can still save while paying those off, since the interest rate is usually lower. You may even use part of your savings to pay one of those debts off!

— Secure lower interest rates on auto and personal loans by giving us a call or visiting one of our branches.

— Talk to one of our Financial Service Officers for a financial review. They can help you assess your needs and move toward your savings goals!

AMERICA SAVES WEEK is happening across the country from February 24 through February 29, 2020. There are many ways that Idaho Central Credit Union supports this nationwide initiative!

During America Saves Week, we will have FOUR great ways for our members to save even more! (1) New members with a savings with a direct deposit will get $30! We will also waive the $5 membership fee. (2) Every branch will have a drawing for $500! Simply visit a branch for a financial review and be entered to win! (3) We will hold contests on our Facebook and (4) Instagram. Keep a close eye on our social media for tips and ways to save. Simply comment to win, and you could be entered to win an extra money toward your savings goals!

Are you ready to start on your path to save? Or pick up where you left off? You can contact us or visit us at any of our branches to learn more. Whether you are opening a new account, getting a financial review, or setting up an even easier way to save, we can help!
We look forward to seeing you this week and saving together!

If you or a child is not a member of ICCU, you can open an open a savings account online this week with a couple extra perks. Adults will receive $30 in their savings and waived $5 membership fee. Youth (0 – 15 years old) will receive a free ICCU piggy bank!

We look forward to seeing you this week and saving together!