Building Better Saving Habits

1/3/2020 Marine Bank

You never know when you might be hit with a financial emergency. This can spiral an otherwise healthy budget into complete chaos. Putting a plan in place to build your savings now will give you financial stability and security by having funds ready when you need them. Ready to start focusing on increasing your savings? Here are 10 ways you can start building better savings habits right now.

  1. Instead of making impulse buys, put that money into your savings and give yourself some time to think about whether or not you’d like to make the purchase. If you still want the item after you’ve given yourself some time to think about it, get it! If you don’t want the item, keep that money in your savings account.

  2. Do you “borrow” from your savings and end up not saving all that much? Open a Holiday Savings Account. It will help you stay focused on saving by setting up a payout date instead of reaching for your savings cash on a whim.

  3. When you receive large, unexpected sums of money like a tax refund, bonus or inheritance, put a chunk of it in your savings right away.

  4. Use your Common Cents – with Marine Bank’s Common Cents program, we’ll round up your debit card purchases to the nearest dollar and deposit the difference directly into your saving account.

  5. Ready to start saving? Go through your emails/texts and unsubscribe! You have enough temptations around you every day, don’t make it harder on yourself by having an inbox full of temptations from your favorite brands.

  6. Make a shopping list. People who grocery shop with a list tend to spend less than people who shop without a plan. 

  7. Start an emergency fund. Ideally, you’d like to have 3-6 months of income saved, but if that feels overwhelming, start with a smaller amount such as $500, and work your way up from there.

  8. Be a motivated saver. Remind yourself why you’re saving – retirement, travel, or a debt-free lifestyle - whatever it is, keep motivating yourself with reminders.

  9. It’s good to treat yourself and even better when you can use those moments as a saving opportunity. When you indulge in that delicious $6 coffee drink, make it a habit to put an equal amount in your savings account as well.

  10. Divide the cost of items you want to purchase by your hourly wage. If that item is worth the percentage of your salary, then by all means go for it, but you may find that some things aren’t actually worth it to you when you use this method.

Explore our Savings Accounts to get started on building your savings today. No matter what you’re saving for, we have an account that will help you reach your goals.



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