Hawaiian Tel Federal Credit Union offers their Honolulu customers access to fantastic personal banking services that are affordable and reliable. They take pride in providing a personal approach to banking at all nine of their branches, and they consider educating people about personal finance to be part of their mission.

If you’re looking to make the most of your savings account, follow these tips from Hawaiian Tel Federal Credit Union: 

• Only Use Your Savings Account For Saving: Many people who have trouble building a nice savings buffer don’t set up guidelines and rules for themselves. They often put extra money in savings only to take it out again to pay for regular expenses. The best way to avoid this back and forth dynamic is to only use your savings account for saving, and to follow a monthly budget that you pay for from your checking account.
• Set A Savings Rate: Automating your savings can seriously boost how much you’re able to save. The best course of action is to figure out what percentage of your monthly income you can realistically save and divert that portion directly to your savings account each pay period. 
• Track Your Progress: Hawaiian Tel Federal Credit Union’s online banking system makes tracking your savings account easy. If you really want to take control of your finances, you should keep track of your growth rate on a spreadsheet. Looking at how much you’ve managed to save can be incredibly empowering.
• Consider Different Options As Your Savings Grows: Your savings account should be used primarily as a holding place for emergency funds and life’s unexpected moments. However, as your savings grows it’s good to consider other investment options. Once your savings surpasses the $10,000 mark, it’s wise to seek out other longterm investment options to diversify your nest egg. 

To learn more about personal finance or to open a new savings account, visit Hawaiian Tel Federal Credit Union online, call an associate at (808) 832-8700, or simply stop by one of their convenient branch locations across the state. For even more, find them on Facebook and Twitter.