Most New Year’s resolutions involve weight loss and fitness goals—but what about your financial fitness? The new year marks a fresh start, making now the perfect time to get serious about your savings goals. To prevent losing sight of your goals after a few weeks into the new year, follow these tips to stay on track with your savings plan.

Make a Savings Plan For the Whole Year

Make a detailed savings plan that allows you to track results over time. We all want to “save more money”, but it’s hard to make progress if you don’t have a plan to get there.


When building your savings plan, the most important thing to remember is that it has to be realistic. There are many pre-built plans out there, but they may not suit your needs or be achievable for you.


If you already have a monthly budget dedicated to go into savings every month, check your records to see if there’s any way to increase the amount. Even if it’s just five to ten dollars, it will add up over time.


If you’re starting a savings plan from scratch, start out small so you can make adjustments throughout the year. For example, you could start by saving 1% of each paycheck, then increase the amount each month. You’ll be shocked to see how much you’ve actually saved by the end of the year.

Budget With a Detailed Plan

If you are the type of person that spends without thinking twice about your bank account, it may be time to set up a budget and prioritize before you start saving. Start by tracking your monthly spend by category: food, bills, entertainment, gas, etc. By keeping track of what you spend, you will set yourself up to better understand what you can save each month.

Have a Spending Goal

Saving money can be hard if you don’t know why you’re saving it. Always have a goal to work towards. No, this doesn’t mean you should spend all of your money at the end of the year, it just means that rewarding yourself is key when it comes to sticking to a goal.


Spending goals can be geared towards practical things such as a new car, a down payment on a home, or home renovations. Or, they can be used for things a bit more frivolous such as a family vacation or a new wardrobe.

Spend Smart

Believe it or not, there are ways to feel good about spending money. With so many rewards programs, automatic savings plans and coupon apps, which one will you choose?


Auto Save will help you pile on the savings without even trying. With every purchase made, you will receive a small amount of change from your checking account swept straight into your savings account. Every debit card transaction rounds up to the nearest whole dollar amount. For example, if you spent $5.75, there would be a transfer of 25 cents into your savings account. Although it’s just pocket change, the total adds up fast.


Target REDcard Debit Card offers five percent back on all purchases made at Target and Target.com with the card. You’ll also receive free shipping and extended returns on most items. In addition, get early access to special events, products & promotions just for being a REDcard holder.


Cartwheel was an app developed just for Target shoppers. When shopping, or putting together your list, look on the app to see what’s on sale. Then, simply scan the barcode on the product at check out and reap those savings benefits!


There are many other apps, accounts, debit cards, credit cards and reward programs that can help you save money. Always read the fine print before signing up for anything new.


As the Official Bank of Savings, Equity Bank is here to guide you through all of your savings goals in 2018 and beyond.