Five Reasons You Should Consider Direct Deposit

May 30, 2012

By Katie Bryan, America Saves communications manager

Set a Goal. Make a Plan. Save Automatically. It’s the plan you need to save for whatever saving goal you have. But how do you save automatically? One of the ways to save automatically is to save a portion of your paycheck through direct deposit. Many employers allow you to automatically deposit your paycheck into different accounts. Visit your HR office to fill out the form to split your direct deposit into different accounts. Saving automatically makes it easier to save because your money is saved with each paycheck – you don’t have to think about how much to save or take any additional steps. Here are five more reasons you should consider setting up direct deposit today:

  1. Safety: You do not need to worry about theft or losing your check as it will be deposited directly in your bank account.
  2. Avoiding Spending: Many find that they are less likely to spend their money on unnecessary purchases if it has already been deposited at the bank.
  3. Avoiding fees: Using direct deposit is generally free. Depositing your funds in your bank account can save you money on check cashing fees!
  4. Convenience: Everyone is busy right? Using direct deposit will save you a trip to the bank!
  5. Get Your Money Faster: You don't have to wait until your check clears.

More Articles on Saving:

Make Saving Automatic
Set a Goal. Make a Plan. Save Automatically.
True Story: Save Automatically. Win Rewards!
Pros of Online Banking

 

Are you ready to commit to a savings goal? Join America Saves today.

Take the Pledge

Savers who make a plan are twice as likely to save successfully. 

Take the America Saves Pledge

Tip of the Day

  • Written by Katie Bryan | November 20, 2013

    Don't be left in a lurch. Plan for your #holiday #spending! http://ow.ly/r0Sg0

Saver Tips and Stories View all »

Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

Read more...

Story of an Urban Professional

Written by Lindsay Ferguson | June 26, 2019

Elaine was inspired to create a new savings goal and plan with the America Saves Pledge after reading the “The Color of Money” column in The Washington Post by Michelle Singletary.

Read more...

Starting Over

Written by Katie Bryan | October 28, 2013

Until last summer, Michael Lindman spent money freely. “I was a union truck driver for 35 years and had a good income,” said Lindman. “I owned my own home, saved a little, and tried to live within my own budget. You always think there’s going to be that much coming in, but things can change in a split second.”

Read more...

Receive Updates

Take the Pledge

Written by Super User | September 16, 2013

Start Saving

Receive Texts

Written by Tammy G. Bruzon | July 15, 2014

Learn More

Partner News & Updates

Written by Katie Bryan | October 18, 2013

Sign Up