HomeFinancial Glossary › Automatic Savings

Automatic Savings

Planning & Budgeting
Recurring transfers from checking to savings set up to happen automatically, removing the decision to save.

Example

Example: For someone earning $60,000/year trying to build a solid financial plan, understanding automatic savings is a key piece of the puzzle. Applied to a monthly budget, this concept could help you save an extra $200-$500/month. Build your plan with our 50/30/20 budget calculator.

Related Calculators

Related Terms

← Back to Financial Glossary