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Now that Labor Day is behind us, it’s time to start looking ahead to the final stretch of 2018. You’ve worked hard for what you have earned and saved this year. Has your money been working hard, too? As you reflect on what you have saved and what you hope to put away in 2019, put your money to work for you with these 3 simple ways to save money.

Set up an automatic transfer into savings.

If you already have a savings plan, then you are actively putting money away toward retirement, travel, a new home or another savings goal. Great job! If you are manually transferring your money from checking to savings each month, you’re missing a big opportunity for your money to work harder for you.

Setting up an automatic transfer from checking is not only one of the simple ways to save money, it also takes any temptation out of the equation. Moving money into savings automatically every month doesn’t give you enough time to miss the cash that is otherwise sitting in your account. And if you find yourself regularly tempted to spend outside of your budget, an automatic transfer can help reinforce the need to stay on track.

Increase your 401k contribution to your employer’s maximum match.

You already know the importance of saving money for retirement. But if your employer offers a 401k program with match and you aren’t contributing at least that maximum match percentage, you are essentially giving money away. Increasing your 401k contribution to at least your employer’s maximum match is one of the smartest moves you can make this year.

Open an interest bearing checking account.

If you prefer to keep more cash in your checking account, there’s a simple way to put it to work for you. Cash sitting in your account can actively help you reach your savings goals by earning interest on your balance.

As you plan for the year ahead, make sure that your money is working as hard as you are. Visit our FutureTrack blog for more savings and budgeting tips, then give us a call so you can start putting these simple ways to save money into practice.

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