3.1 min readBy Published On: January 12th, 2013Categories: Features0 Comments on Top 10 Ways to Save in 2013

Mass Bay Credit Union’s Tips to Save

As we head full-steam ahead into the new year, most people are looking for ways to save money, improve their credit and reduce debt.  Here is our Top Ten Ways to Save in the New Year:

  1. Avoid ATM Fees!  ATM fees can sure add up!  Paying them could cost you hundreds each year.  To avoid ATM fees, use your debit card to make purchases and then ask for cash back.  Also, you can move your account somewhere (like Mass Bay) that doesn’t charge for “foreign” ATM withdrawals and offers a large network of surcharge-FREE ATMs nationwide.
  2. Carpool or Take Public Transit! Gas remains expensive and that is unlikely to change. So partner up!  Sharing a ride with someone heading the same way as you everyday, will save you money.  Another alternative is public transportation.  You’ll save money and because costs are very stable, you’ll know exactly how much to budget!    
  3. Have a Secret Savings Account! Use direct deposit to have a small amount of your paycheck deposited into a separate account that’s hard to access.  This will help you build a rainy day fund to take care of unforeseeable expenses that invariably arise. 
  4. Save your change! You probably accumulate a great deal of change during the year. Whenever you return home, just dump it into a sturdy container and then bring it in to Mass Bay!  Our coin counter will separate it for you and give you cash!  And if you’re a Member – it’s free!
  5. Consolidate Your Unsecured High-Interest Debt with a HELOC! Use your home’s value to pay off credit card and other debt and save money with lower interest payments.  Our Home Equity Line of Credit has a great low rate and many flexible options to maximize your savings.  Your interest may also save you money on your income tax. (Consult your tax professional).
  6. Maximize Your Retirement Contribution! This can save you money on taxes now and allow your savings to grow tax-deferred for many years.  And if your employer matches, your savings could double!  Some options even let you use the funds for education expenses and home purchases. 
  7. Do Your Banking and Bill Paying Online – Or On The Phone! Save money on gas, save on stamps – and save time!  Stop coming in for transactions or check deposits and pay your bills faster!  Choose an institution with state-of-the-art online and mobile banking and get back to doing the things you like to do!
  8. Refinance That “Dealer” Automobile Loan! While it was convenient, was it worth it?  If you’re paying a higher rate for your car loan, refinance it at Mass Bay and lower your monthly payments!  We can also change your terms to better fit your budget.
  9. Open A Christmas Club or Vacation Club Account – Now!Don’t pay extra for the holidays or vacations! Open a special savings club account and have money automatically transferred in each week. You won’t miss it throughout the year, and you’ll appreciate it next January!
  10. And The #1 Way To Save In 2013: Open a FREE Checking Account at Mass Bay Credit Union!  No monthly fees, no minimum balance required.  No check or transaction fees.  FREE Online Banking, Mobile Banking and Bill Pay.  Surcharge-FREE cash withdrawals at 40,000 ATMs nationwide.  AND MORE!

Open your account and become a member for as little as a $5 opening deposit at our office at 147 West 4th Street and get instant access to all Mass Bay has to offer, or visit us online at massbaycu.org!