You are using an outdated browser. Please upgrade your browser to use this site.

Ready to get started?

2/22/2019

Making Your Savings Work Harder for You During America Saves Week

Making your savings work harder for you infographic. Description found below

Practicing smart savings strategies is important every day, but it’s critical during America Saves Week. Increase your savings with quick tips and savings statistics from CIT Bank and The Harris Poll.*

Tip 1: Choosing an account Seek an account that offers competitive interest rates and daily compounded interest. Your savings will grow faster. Few American adults take advantage of accounts that maximize savings (like high yield savings accounts or CDs) - 17%

Tip 2: Set it and forget it Make a regular habit of saving by automating your deposits. 65% of American adults made a financial resolution in 2019 63% of those who made resolutions said building a habit of savings was their top strategy

Tip 3: Preparing for emergencies Set up a separate emergency savings account to cover unexpected expenses. 48% of U.S. households encountered an unexpected expense related to an emergency over the past year Major concerns included:

  • 11% - Major home damage
  • 14% - Identity theft or financial scams
  • 49% - Major health issues

Save more while earning a higher rate A high yield savings account can make your money work harder for you. Choose an account like CIT Bank’s Savings Builder to earn a higher interest rate just for saving $100 monthly or maintaining an account balance of $25,000. Get going at: cit.com/cit-bank/tiered-savings-account-savings-builder-value2/

©2019 CIT Group Inc. All rights reserved. CIT Bank and the CIT Bank logo are registered trademarks of CIT Group Inc. *The survey was conducted online within the United States by The Harris Poll on behalf of CIT between February 6 to 23, 2018 and a follow-up survey was conducted between February 6th and 8th 2019 among 1,100 U.S. consumers ages 18 and older. Data were weighted where necessary to bring them in line with the general U.S. population based on the following variables: education, gender, age, race/ethnicity, household income, size of household, and employment status.

Recommended Articles