During Military Saves Week 2016 the Association of Military Banks of America (AMBA) and its member banks can help you save successfully! This year’s theme is “Make Saving Automatic”! Saving automatically can be used for many types of savings goals; saving for an emergency should be one of your top savings goals. You can set up automatic savings into a savings account in a couple different ways.
One way to start your emergency fund (or add to it) is through a payroll deduction, making this savings habit automatic. For the military this can be done online through MyPay (https://mypay.dfas.mil/) click on “Start Savings Allotment”. The best place to have your emergency savings fund is in a liquid savings account. A savings account at a financial institution is a great place to have your emergency savings. You should be able to access this money quickly if you run into an unexpected expense. AMBA military banks offer great promotions and incentives during Military Saves Week that will help you get started saving or increase your savings.
Check back at AMBAHQ.org in early February for promotions, incentives and specials the AMBA banks are holding during Military Saves Week 2016.