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Automatic savings means you have a process in place to save at regular intervals, whether that's monthly, weekly, or daily. Make sure that you are tackling your debt consistently, building an emergency fund, and securing long term goals can help you organize your financial needs and allow you to plan your savings!

If you want to save automatically, we suggest one of these three strategies:

• Split to Save. Instruct your employer to direct a certain amount from your paycheck each pay period and transfer it to a retirement or savings account (or both). Traditionally, you can set this up using your employer's direct deposit, ask your HR representative for more details, and set this up today. We call this method "Split to Save."
  
  
  
• Auto-Transfer.  Blue Ridge Bank transfers a fixed amount from your checking account to a savings or investment account every payday. Talk to your local BRB representative or go to the myBRB app to set this up.
  
  
  
• Scheduled Transfer. Choose a day during the month or a regular interval to transfer a set amount from your checking account to your savings account. We recommend this method for people with pay that varies, such as freelancers and those working in the gig economy. Consider picking a lower dollar amount or a time of the month when many other automatic payments aren't happening. You'll set this up with your myBRB app.

Not able to set those up because you're paid by a physical check, in cash?

• Save your loose change. Put all of your loose change into a jar every day, and don't spend it. If that jar starts to look tempting, take it to your local BRB branch to cash and deposit it into your savings account. However, if you've got a big jar: there's no harm in watching your automatic savings pile up literally!

WHY AUTOMATIC SAVINGS WORKS

Automatic savings simplifies the process of building financial security. Here’s why it’s so effective: 

• Consistency: Regular contributions build habits and ensure progress toward goals. 

• Discipline: Automation removes the temptation to spend money before saving. 
• Convenience: Once set up, saving happens effortlessly. 

SAVING AUTOMATICALLY FLYER

Check out, print, or download the Saving Automatically Flyer. Then, work with your local BRB representative to decide what would be the best method to start saving, or check out our other financial literacy resources here.