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Money Management


Become a Better Saver

Pay Yourself

First No matter how much you make each month, you can save money if you make it a priority to pay yourself first like you’re a bill that has to be paid. The best way to do this is to automatically deposit a set amount from your paycheck or from your checking account to a savings account every month. If you don’t see it leave your account, you won’t know it’s there. Start with just $10 a month if you are concerned about your monthly obligations and then ratchet that amount up as you get used to saving.

Wait Before You Buy

If you tend to be an impulsive shopper, wait at least 24 hours before you buy something. If you’ve done your research and know you’re getting a deal on something you truly need, then you can feel secure in that purchase. Many times, if you wait before you buy something, you’ll find you really don’t need it after all.

Keep Your Change

It may sound crazy, but put all your loose change in a jar or box. Once you fill it up, take it to your financial institution to deposit. Check with your financial institution first to see if they required the coins to be rolled before depositing it.

Stick to Your Budget

One of the best ways you can save is sticking to a realistic budget. You may have to make cuts here and there, but it will be worth it when you have accomplished the goals you’ve set for yourself.

Involve Your Friends

Another great way to stay on track is to let your friends and family know you want to save more money and spend less. Ask a few of them to hold you accountable each month.

If you need help setting up a budget, give Southern Bank’s Free Personal Finance Manager a try. All you need is a Southern Bank online banking account to utilize this free service. Southern Bank’s Personal Finance Manager offers you an integrated solution to have a clear view of your total financial life in one spot, including accounts and credit cards not associated with Southern Bank. Through a single sign-on, you can now see all your balance and transactions together. Personal Finance Manager pulls all your financial information into one place, making it easy to see the entire picture.