Sometimes the hardest thing about saving money is getting started. Whether you’re trying to save up for an emergency fund, a vacation, the down payment for a new car, or your child’s education, creating a budget is a great way to get started. Kinetic Credit Union offers several different Kinetic Savings Accounts to fit whatever your financial goal may be! Head on over to your local Kinetic Credit Union in Columbus, Georgia to start saving today!

Kinetic’s Savings Accounts

Kinetic Credit Union offers a variety of different savings accounts suited for all ages and financial goals. Our Regular Savings account is perfect for your vacation or rainy-day fund. Offering a 0.10% APY, your money will continue to grow on its own until it’s time to use it. Looking to teach your kids financial responsibility? Kinetic’s Greenkids and Xtreme Savers Savings Accounts are made for kids ages 17 and under, so they can begin building good savings habits. We also offer a Prime Club Savings Account for members over the age of 50, a Christmas Savings account to help prepare for all of those holiday expenses, a Tax Savings Account to save for your tax expenses throughout the years, and a Money Market and IRA (Roth and Traditional) Account for all your investment and retirement needs.

Budgeting 101

Budgeting is one of the most effective ways to save money throughout the year. Clearly planning out where all your money will go can help cut back on that spontaneous spending.

Track ALL of your spending

The first step in budgeting is to record everything (yes, that means everything) you spend your money on in a month. Every cup of coffee, late-night Amazon purchase, Uber ride, utility bills, rent/mortgage… you get the point. After you have all of these transactions recorded, you can organize them into categories such as Gas, Groceries, Mortgage, Entertainment, Clothing, etc.

Kinetic Credit Union in Columbus, Georgia offers free financial tools and education to every member with our Smart Steps feature.

Make room for savings

Now that you have all of your monthly expenses organized, it makes it easier to go through and see where you may have room to cut back so you can put that extra money in your Kinetic Savings Account. Are there certain subscriptions services that you don’t use anymore? How often are you going out to eat? Keep in mind that there are likely regular expenses that you may have that aren’t necessarily monthly such as car maintenance. Ideally, financial experts suggest that anywhere from 10-15% of your income should go into savings. The important thing is that you start with what you can. If 10% isn’t possible right now – don’t worry, any savings is better than no savings.

Set your goals

Great! You’ve made room in your budget for savings by cutting back on things in your monthly expenses! Now it's time to set your budgeting goals. It may help to divide your savings goals into short-term (1-3 years) and long-term (4+ years). It’s totally fine to have several different goals in mind at the same time, but it is important to decide on their priorities. Your goals don’t always have to be major either like a new car; even something as simple as a birthday gift for a friend or loved one, a new cellphone, etc. These are all things worth budgeting for.

Watch your savings grow

Last but certainly not least, it's time to sit back and watch your savings grow. Continue to track your expenses each month so you know how much you can contribute to your goals. Also by keeping track, you can identify and fix any issues you find quickly.

Start Saving with Kinetic Credit Union

Kinetic Credit Union in Columbus, Georgia is prepared to help you meet all of your savings goals. All of our Kinetic Savings Accounts are sure to have your money working for you so you can hit your financial goals faster. Check out our website or visit any of our full-services branches today to get started.