Follow this little piggy all the way to the Bank, and he'll help show you how much money you need to save for college, a new car or even that dream vacation.
Your Savings Partner
A home purchase, school tuition or retirement are great reasons to save but require determination and commitment. Consider Webster a resource for essential financial information and a partner in your savings future.
5 Tips for Smarter Saving
1. Make a daily or weekly budget and review your spending.
2. Set savings goals. Try our Savings Calculator on the right.
3. If you use a credit card, pay down your balance every month.
4. Pay yourself first and earn more interest with Automatic Transfer to Savings.
5. Reduce daily luxuries like eating out and visits to high-end coffeehouses.
Think of how much you can save each month.
Now imagine doing that for a year, with interest!
5 Long-Term Savings Strategies
1. Save with a work-related retirement program.
Many employees turn down free money from their employer by not participating in a work-related retirement program such as a 401(k) plan. With matched savings, you really can’t lose!
2. Buy a home and pay off the mortgage before you retire.
The largest asset of most middle-income families is home equity. After paying off your mortgage, you’ll have far lower housing expenses and an asset that can be borrowed on for emergencies and special projects. Learn more about Home Loans or Lines of Credit.
3. Make your money work for you with CDs.
Watch your money grow with interest in short or long-term CDs, which are insured by the FDIC1. Our bankers are eager to help you select the one that’s right for you. Learn more about Webster’s CDs.
4. Invest in an Individual Retirement Account (IRA).
Outside of work, you may also be able to invest in an Individual Retirement Account specifically designed to help you gain retirement savings. Find the best option for you with our Investment Consulting.
5. Pay off high-cost debt.
It’s often hard to imagine saving when you have debt. But the best way most borrowers can save is by paying off debt with double-digit interest rates. By paying twice the minimum payment or more, you could save thousands in interest charges.
Set Goals. Find Solutions. Start Saving Today.
Once you start, saving money becomes a mindset and a lifestyle that can restore confidence in your financial future. Come into your local Webster branch to talk with a savings expert and learn more about our Savings Account options. As your savings partner, we’ll help you set goals, find easy solutions and start saving smarter.
Coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules, based on ownership category. For more information about FDIC insurance coverage, visit www.fdic.gov.