Smarter Ways to Put Your Savings to Work

We get it, sometimes savings accounts feel a bit like a comfy couch. You park your money there, it's safe, familiar, and doesn't require much effort. But what if your money could be doing more? Like a couch that doubles as a storage space or folds out into a comfy guest bed, some savings accounts can actually do double duty. Instead of simply sitting there, your money could be growing significantly faster. Curious how? Let's dive into a few easy, smart, and realistic ways to level up your savings.

1. Upgrade from "Basic" to "High Yield"

If your savings currently sit in a basic savings account, you're likely earning very little on your money. Coastal's High Yield Savings account, on the other hand, could offer you significantly higher dividends. Think of it as upgrading from a bicycle to an electric scooter. Both will get you there, but one does it a lot faster (and with a little more excitement).

Why it's smart:

• Earn significantly higher dividends than a regular savings account.
• No monthly fees, meaning your growth stays yours.
• Your money stays accessible, so there's no trade-off between earning more and flexibility.

2. Choose a Checking Account That Pays You

Checking accounts often get overlooked when it comes to earning potential, but they shouldn't. With dividend-earning checking accounts, like Go Green Checking, your everyday spending account can become a source of earnings. You could be earning more without having to change how you spend. Smart, simple, and beneficial.

Why it's smart:

• Earn dividends on money you're already using daily.
• Enjoy perks like early pay (with direct deposit), and discounts and perks.
• Feel good about supporting community-focused initiatives, since transactions help fund charitable giving with the Coastal Credit Union Foundation.

3. Automate Your Savings (Set It and Forget It!)

One of the simplest yet most powerful ways to grow your savings is automation. It's a bit like putting your finances on autopilot. Set up a monthly transfer from your checking to your High Yield Savings, then sit back and watch your savings quietly grow without lifting a finger.

Why it's smart:

• It removes the temptation to spend the money.
• Makes saving feel effortless and stress-free.
• Helps you consistently reach your savings goals, month after month.

4. Keep Your Savings and Checking Together (Simplicity Wins)

Having your savings and checking accounts at the same financial institution can be beneficial and less stressful. When your money's in one place, it's easier to manage, easier to transfer, and easier to track. It's like keeping all your favorite apps on your home screen, putting everything you need right where you can find it.

Why it's smart:

• Easy transfers between accounts, allowing quicker adjustments.
• Simplified budgeting with everything clearly visible in one location.
• Better peace of mind knowing your money management is streamlined and simplified.

Making your money grow isn't complicated. It's about choosing smarter, simpler ways to bank that reward you and your goals. That's banking better. Ready to get started? Check out Coastal's savings solutions today and watch your savings do more for you!