Financial Literacy

Savings Tools and Tips

Home Savings Bank has been helping customers develop savings skills since 1895. Saving money doesn't have to be hard. Making it a regular part of your routine helps.

Pay Yourself First

The “pay yourself first” method is a customer favorite because you can increase your savings with regular, manageable contributions to savings before you pay other expenses. Here's how you can put yourself first:

  • Choose a Home Savings Bank savings account from among several options
  • Choose an amount to be automatically transferred from your checking account on a regular basis. Your checking account can be with Home Savings Bank or another bank.
  • Set, or adjust, the automatic transfer with Home Savings eBanking, or have Home Savings Bank arrange the transfer.

Call Home Savings Bank at 608.282.6000 to jump-start your savings.

Choose a Few New Ways to Save

  • When the weather allows, ride a bike, walk, bus, or carpool to work to save money on gasoline. Filling up your tank can certainly drain your wallet.
  • Everyone enjoys a latte or lunch out, but make your own coffee or lunch once or twice a week to save a few bucks. At the end of the year, small weekly savings can add up.
  • Lowering your thermostat by just a few degrees during the winter months (or going without air conditioning on all but the hottest days of the summer) can save you money. If you are a little chilly in your home, dress warmer and use blankets instead of cranking up the heat.
  • Set up a “Pay Yourself First” auto-transfer. Automatically depositing a small portion of each paycheck into a savings account allows you to save before your spend. You can do this via online banking.
  • Going on vacation? Make sure to unplug all of your electronics—even cable boxes and microwaves. Electronics with digital displays use energy even when not being used, thus racking up your energy bill.
  • Use cash when possible. You will be less inclined to spend money when using bills versus swiping a credit card.
  • Remove your credit card numbers from your impulse-buy websites. Spending money is easy when you just have to click to buy. If you have to enter all of your credit card information every time you need to make a purchase, most likely you will spend a few more minutes considering if you really need to shop.
  • Ask Home Savings Bank to review your accounts to see if you have the best matches for your needs.
  • Visit the Home Savings Bank Facebook page for more savings tips, and let us know your favorite way to save.

Money Fun

Here are some fun ways for your whole family to learn more about money and how we use it.

  • Write a letter to your future self! You could plan to open it in one year, two years, or even five years. In the letter talk about what you are saving your money for and what you think your life will be like then. Then seal it in a nice envelope and write OPEN THIS LETTER ON (YOUR CHOSEN DATE) on the outside. Put it in a safe place where you'll be able to find it again. When it's time, open the letter and see if you met your savings goals!
  • Have a family meeting to decide how you can help by sharing some of your money. Would you like to help people who need better food to eat, or who don't have money for a nice holiday? Maybe you would like to donate some money to help take good care of animals at the zoo, or cats and dogs without homes. Are there other ways you can help, too? Maybe you could volunteer at the same place you give some money.
  • Share a day without spending any money! Come up with ways your family can have fun without buying anything or driving anywhere. Think you can do it?
  • Create a money jar where everyone in your family saves their change. You can add pennies, nickels, dimes, and quarters, and watch them add up. When the jar gets full everyone gets to guess how much is in the jar. Take your change to a Home Savings Bank drive-up and deposit the money. Did you guess the right amount? What will you do with your savings?