14.00% annual percentage yield (APY) intro rate effective for the first month of new account opening and 6 statement cycles (“cycle”) after for balances of $20,000 or below. Remaining balances greater than $20,000, will receive a rate of .20% APY. After the intro period, a 2.00% APY is applied to the first $20,000. Remaining balances greater than $20,000, will receive a rate of .20% APY. All rates subject to the following qualifying factors required per cycle: 1) 12 settled debit card transactions; 2) 1 direct deposit or ACH debit or credit transaction (excluding OCCU’s Bill Pay service); and 3) active enrollment in eStatements. If one or more of the qualifying factors are not met, account will receive a default rate of .05% APY for that cycle. Statement cycle = first day of the month to the last day of the month (ex. May 1 – May 31). APYs effective as of 04/22/2023 and subject to change. Introductory offer may end at any time, contact OCCU for details. Fees could reduce earnings.
5 savings tips you can use now
Let’s face it, if you’re in college or have recently graduated, saving money is difficult. Your focus is more on paying back student loans than thinking about your financial future. However, by making a few adjustments to your spending habits, you can start saving more and prepare for a better financial tomorrow.
Cut the cable
If you’re still paying for cable every month, it might be time to consider cutting the cord. Discontinuing your cable service could save you anywhere from $40 to $60 a month, depending on where you live and your provider. And with Netflix, Amazon Prime and HBO GO, there are plenty of other cheaper streaming services to choose from.
Skip the local gym
Working out and eating healthy is good for you. Paying an overpriced gym membership is not. Avoid gyms around town that charge ridiculous sign-up fees. Some colleges that have an athletic center or gym will include a membership with the price of tuition. So stay fit on campus without spending that extra nickel.
Create a budget
Building out a budget isn’t just for parents. Simply taking an hour out of your day to see where you’re spending your hard-earned cash can go a long way financially. You’ll be able to identify unnecessary spending habits and then see what you can and cannot afford, saving you more money. Build a budget in 4 simple steps.
Open a checking account
Opening a checking account is a wise investment for anyone serious about their money. With a checking account, you’ll be able to monitor your spending from the convenience of your smartphone. You’ll also earn up to 4.00% APY1 (Annual Percentage Yield) if you open a Remarkable Checking® account with OCCU. The best part? Never pay an ATM fee again.
Just like studying or working out every day, saving money takes commitment. If you’re not committed, then it’s going to be even harder to save. But if you stick with it and make up your mind that you want more money in your pocket, then you can do it. So start making those small spending sacrifices today — your future self will thank you.