Set it and forget it: use automated banking to build savings

Editor’s note: Feb. 22-28 is Military Saves week and your BBB serving Central, Coastal, Southwest Texas and Permian Basin will have daily posts highlighting ways to save money. While these tips are written with military members and their families in mind, these are valuable savings tips for all consumers.


One of the most difficult parts of saving money is finding the cash to set aside. The easiest way to bring the balance on your savings account up is to make your savings automatic.

How to do it

  • Decide on an amount you’d like to save each month and set it up with your bank or credit union so that the amount you choose is funneled into a separate savings account each month.
  • Military members can set up automatic allotments using myPay that can be sent directly to a savings account.

Why it works

  • Saving automatically is easier because you don’t have to think about how much to save or take any additional steps.
  • It’s tempting to spend money when it’s just sitting there in your checking account. If you don’t see the money, you are less likely to miss it.

But I don’t have enough money to save

Sure you do. Start small and set aside $10 a month. Hey, it’s a place to start.

When you get extra income from a raise or a bonus, put it in savings.

Try saving:

  • A portion of your tax return
  • Deployment or other supplemental pay
  • Birthday or holiday money
  • Any money earned by selling items at garage sales or consignment

Just remember, even small deposits can add up to a big savings account over time.