SeaComm Federal Credit Union OFFICIAL BLOG

Try The $5 Challenge

This challenge is all about saving. It doesn’t take much effort and the focus is to build good financial habits. Follow these simple steps to have a little extra savings.

Separate Your Change

If you pay for something in cash take a look at the change you get back. If there’s a five dollar bill separate it from the rest. Keep that bill instead of using it for another purchase. Make sure that bill goes towards your savings. It might not seem like a lot, but it will build over time.

Stash It Away

Now that you’ve started to separate your money you should find a safe place to store it. Jars and envelopes work great. Each time you bring home your change make sure to put it away, and at the end of the month you can deposit it in your savings with SeaComm. If you don’t want to keep it at home you can deposit the money anytime you want.

No Cash?

If you don’t carry cash on you or want to do this challenge when shopping online, there is an easy solution. Each time you make a purchase in store or online with your card, do a quick transfer. Go into your account and transfer $5 into your savings. If you think about it, it’s no different than saving your change. You’re still separating $5 from what you had, right into your savings account.

Let’s Do Some Math

You may be thinking that $5 isn’t so much, but it can add up. Let’s say you go out and buy something three times a week. That’s $15 extra dollars a week into your savings and an extra $780 a year. You can customize the challenge however you like. You can save more each time, or more or less often. However you want to save is up to you, but the important thing is, you’re saving!

If you want to really build your savings in 2023, click here to discover a variety of options available to you at SeaComm. This includes regular savingsmoney market accounts, certificates, and more. Need assistance? Call us at (800) 764-0566 or stop by your nearest SeaComm branch location – our goal is to help you reach yours!     


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