My True Savings Goal: Emergency Savings & Entertainment Savings
I was already on a path to try to save money. It seemed like whenever fun plans came up or an unexpected car repair happened, I didn't have any money saved for it.
I asked myself, “How could I save money for these unexpected things?”
I made a list of the "extras" I was spending money on - like soda, snacks, eating out, etc. I spent well over $20 a week. I made a plan to cut out some of those "extras" and start saving that money for something better.
I was on a mission!
Then I heard about the new True Savings account offered at American 1. This account seemed different from the traditional savings accounts I had set up to save money that never worked. With my True Savings account, I could decide what I was saving for, how much I wanted to save, and fit it into my budget!
I decided to open two True Savings Accounts - one for entertainment and one for emergencies. I committed to depositing $10 each week from my paycheck into both accounts. Having the money deposited out of my paycheck made it so I didn’t have the chance to spend it. As weeks passed I could see that I was actually saving! I had money saved in my Entertainment True Savings to celebrate my birthday! To top it off my Emergency True Savings is there for anything unexpected that may come up. This plan is working for me and I don’t even miss the money that I used to spend before.
I also get weekly emails that help remind me what I am saving for, what my dollar amount goal is, and how much I've saved toward my goal so far. There are even helpful tips in the email on other ways I can save more money! I am on my way to saving for both of my goals – fun things and emergencies!
Now that's truly True Savings!