(SPEECH)
- I've officially discovered the only savings tip you'll ever need.
[MUSIC PLAYING]
(DESCRIPTION)
Logo, Navy Federal Credit Union, Making Cents. Text, How can I make saving easy? Speaking is a woman with close-cropped tightly curled hair and glasses.
(SPEECH)
Allow Amber, your favorite Navy Federal personality, to set the scene first. Ever buy a head of broccoli because you're replacing your chip habit with a floret habit? But you leave all the broccoli and your vegetable crisper where you can't see it, and three weeks later, there's a horrible smell coming from your fridge. And you remember the broccoli.
But it's definitely not snackable anymore. So you throw it out and start the process all over again.
(DESCRIPTION)
Broccoli florets change from bright green with straight stems to a half floret with yellowed tips.
(SPEECH)
Me neither.
- You did that again? We talked about this.
(DESCRIPTION)
Speaking is a clean-shaven man with closely cropped dark hair.
(SPEECH)
- Anyway it's that old, out of sight, out of mind thing. And while it's inconvenient, when it's broccoli, it can totally work to your advantage when you're trying to save money.
- How?
(DESCRIPTION)
The two speakers push their desks to opposite sides of the screen.
(SPEECH)
- Glad you asked.
(DESCRIPTION)
Text, Set up direct deposit. Emerging from a blue rectangle with white lines is a stream of orange dollar bills that lead to a box with one dollar sign, Checking, on the left of the screen; and a stream of blue dollar bills that lead to a second box with two dollar signs, Savings, on the right side.
(SPEECH)
Here's what you'll need. Set up direct deposit so your paycheck or base pay goes into your checking account and into more than one savings account, each with a different purpose-- new car fund, down payment fund, emergency fund, treat yourself fund. You get it.
(DESCRIPTION)
The two dollar signs change to icons of a car, a house, an umbrella, and a gift box.
(SPEECH)
Update your direct deposit settings so that a set amount goes to each savings account. It doesn't have to be much.
(DESCRIPTION)
The blue rectangle has a gear in its upper right corner for settings; when the gear returns, streams of dollar bills flow to the four icons in the Savings account category.
(SPEECH)
$50 here, $100 there, more if you can, then do nothing. That's right.
(DESCRIPTION)
Text, Nothing. The blue rectangle turns 3/4 orange, then dollar bills flow from it to the box marked Checking.
(SPEECH)
Come payday, what remains of your paycheck will hit your checking account. That's what you can spend. The rest of your money, the savings will be tucked safely away in their vegetable crisper
(DESCRIPTION)
Blue dollar bills flow from the last blue 1/4 of the rectangle and into the box marked Savings.
(SPEECH)
savings account. No writing here, just growing steadily with your biweekly contributions.
The best part-- eventually, your brain will get used to seeing the new amount in your checking account and forget that old amount ever existed. Psychology, folks, it's a game-changer.
Let's recap what we're going to do now.
(DESCRIPTION)
Text, Recap; Open more savings accounts, Change your direct deposit settings.
(SPEECH)
First, decide if you need to open a few more savings accounts. Now's your chance to do that. Then head over to your company's website and make the changes to your direct deposit settings.
So glad I came up with this tip so we can keep MakingCents of your money together.
[CHEWING]
(DESCRIPTION)
Amber eats a broccoli floret.
(SPEECH)
Fresh.
- I'm glad too. Now maybe it'll work with your broccoli.
- Let's not get carried away. I'm still a work in progress.
[MUSIC PLAYING]
(DESCRIPTION)
Logo, Navy Federal Credit Union, Making Cents. For more smart money tips, visit Navy Federal dot org forward slash making cents - Insured by NCUA. Our members are the mission. This information is not legal or financial advice; instead, it is provided for general informational purposes only. You should consult your own attorney or financial advisor regarding your particular situation.
