How To Make More Money With A Saving Acount
It is important to get the most for your money, which includes the money you save if you take the time to learn how to make more money with a savings account. Not all savings accounts are the same and the differences can add more or less cash to the amount you are saving.
- Look for the highest interest rate. Put your money into a savings account that is going to make you the most money by looking for accounts with the highest interest rate. Make more money with a savings account that is making three percent interest over one making one percent interest.
- Join a program that moves your change into your savings. Make finding more money to put into your savings account as easy as possible. Many banks offer a program, which rounds up your purchases and puts the difference into your savings account. For instance, if you purchase something for $1.50, the amount will be rounded up to $2.00 and $0.50 will be added to your savings account.
- Limit access to your account. Make more money with a savings account by asking for limited access when setting up the account. Do not allow withdrawals online or at an ATM, so you must go into the bank to withdraw money from the account.
- Use automatic transfers. Have the bank set up automatic transfers each week or month to make more money with your savings account. Think of saving as a bill to be paid. Send your allotted amount over to the savings account each pay period.
- Look into online accounts. Setting up an online account is a great way to make more money with a savings account. Online savings accounts often offer higher interest rates and because they are not as easy to access, the chances of you keeping money in your savings is a bit higher.