As we begin a new year and think about efficient ways to manage our finances for the upcoming months by doing things like creating a budget, it’s equally important to think about long-term money goals as well.
There are certain bigger ticket items that you may want to purchase throughout your lifetime, some planned, others maybe not. A savings account is a great way to donate a small amount over an extended period of time. By having a savings account, you have the flexibility to know how long it will take to achieve your financial goals while also building a safety net in the event you need it.
Oh, and have we mentioned the absolute best part about a savings account? Some accounts accrue interest over time which means by just having your money in a savings account, you’ll earn additional funds!
Putting your money into a savings account also adds a level of financial security since for example, at cPort your money is Federally Insured by the NCUA.
For unexpected costs, a savings account is a way to offer financial stability in the event of an unforeseen, expensive life event. With a little money saved you won’t be saddled with as big of a financial burden, like a large bill.
cPort offers a variety of Savings accounts, take a look or give us a call to find out what makes the most sense for you!