Planning to save more is a great resolution for the New Year. Here are some ideas to help you keep your resolution:

• Save your change – throw it in a jar every evening and once a month convert it to cash for your savings account.

• Set a specific savings goal – or maybe several. $x for a trip and $x for a prudent reserve.

• Set a limit on impulse purchases – promise yourself that before you buy anything that’s $20 or more, you’ll wait 24 hours. It’s amazing how often you’ll discover you don’t really need it or want it.

• Track your expenses for a month – keep track of every single penny you spend for a month. Chances are you’ll find some money leaks you can plug.

• If you use credit cards, pay them off completely every month. Also, double check exactly how your credit card companies are charging you – rates and penalties are always changing.

Senior BofI offers a variety of savings accounts. You can find the details on our Savings Page.

Labels: savings, senior banking, seniors