Two Easy Steps to Make Your Financial Life Simpler

Tuesday, August 13 at 10:10 AM
Category: Personal Finance

Managing your finances perfectly can be difficult, if not impossible. But there are some good steps to take to save you time and help you accumulate funds for your financial objective.

Direct Deposit Your Paycheck
Direct deposit of your paycheck is the fastest, safest and most convenient way to get your wages into your checking or savings account. Eliminate worrying about lost checks, waiting in line to make deposits, or delays if you are on vacation or out of town. With direct deposit your money goes to work faster, too.

Direct deposit eliminates mail delays and is safer. Mail theft can take place after mail is delivered, so direct deposit erases this worry. Direct deposit can be used for your payroll checks (for many employers), Social Security payments and other government checks.

You’ll need your account number and the ABA routing number to set-up direct deposit then follow the process below.

  • Federal Payments - Visit GoDirect* to set up a direct deposit for any government issued payments.
  • Payroll – most employers require direct deposit to be set-up at their personnel office; however, a friendly Arvest associate would be happy to contact your employer (with you present) on your behalf.

For additional questions about setting up a direct deposit, please contact us at (866) 952-9523, or visit your local Arvest branch.

Automatic Savings Plans
Why not have a portion of your paycheck (or a specified amount from your checking account) go directly into a savings account each month? If you are already doing this, then consider increasing the amount. This simple tool is a useful way to save more and develop a good saving habit.

Your employer probably offers some form of payroll savings plan, and we can easily set up a plan. Using an automatic savings plan is probably one of the easiest way to save.

You can use this technique for both short-term and long-term goals, such as a major purchase, down payment on a home or to pay for that dream vacation. It also can be an important and effective part of planning for a financially secure retirement.

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: Cash Management, Financial Education, Savings
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