Prepare for a more secure future with a more focused savings approach.

Woman ThinkingA key to achieving financial security is preparation. We’ve put together guidelines that can help you put a plan into action.

Start saving now. It’s simple — the earlier and more you save, the faster your money will grow. That way, you’ll maximize the effect of compounding, earning a return on not only what you save, but also on the dividends generated. Month after month.

Save what you can. How consistently you save can be even more important than how much you save. Experts agree that consistently putting 10% of each paycheck into savings will ultimately keep you on the road to financial freedom.

Automate your savings. Using automatic transfers ensures that money goes into your savings account before it can be spent. Set up automatic transfers in Online Banking or our Mobile Banking app, or stop by the credit union. Also, arrange Direct Deposit with your employer.

Remember how you want to retire. Nobody wants to spend their retirement worrying about money. That’s why financial experts always recommend funding your retirement first. Open a traditional or Roth IRA. Or a 401(k) if you’re eligible. Retirement accounts offer excellent tax advantages that can help you get ahead and look forward to a successful, more worry-free retirement.

Be more frugal. A dollar saved is a dollar earned. Make your morning coffee at home. Instead of buying lunch on work days, brown-bag it. Put the money you spend on unnecessary expenses into savings — and watch your savings grow day by day.

So consider altering your approach to focus on saving instead of spending. You may be surprised how fast and how much it can all add up.

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