Effective Strategies for Saving

The following recommendations are designed to help you establish and or grow your personal savings.

  • Pay Yourself First

    When you pay your monthly bills, write a check to yourself, first and put it in your savings account.

  • Don’t Borrow Additional Money to Pay off Debts or Bills.

  • Cut Expenses

    Get this number by analyzing your budget and determining where reductions can be made (e.g., eating out, buying snacks and lunch at work, going to the movies, etc.). Once you have determined how much you plan to cut, use this “found” money to pay down the balances on your debts.

  • Optimize Your Monthly Payment

    Pay the maximum amount towards your highest interest rate debts. Pay the minimum amount on all other debts.

  • Ask for Reduced Interest Rates

    Some creditors, especially credit card companies, will reduce your interest rates if you just call and ask. If you receive offers for other credit cards with lower interest rates in the mail, use those offers as leverage when you are re-negotiating your rates with your current creditors.

  • Set Goals and Priorities

    Determine what’s important. When you prepare to buy something ask yourself if this purchase is in line with the priorities you have set and will it help you reach your goal or delay it.

  • Use a Debt Reduction Planner

    This site provides a free Debt Reduction Planner that allows you to determine the amounts you should be paying towards each of your debts and calculates the money you will save by paying your debts in the recommended order. Additionally, the program tells you when each of your debts will be paid off.

Gena M.

My experience with Southern States Bank has been exceptional. If you are looking for a partner and friend in your financial institution then you will find it in Southern States.

Justin M.

I went in to set up an account, 15 minutes later I was out the door. Jessica was a great help and very friendly.

Celeste G.

They always greet you with a smile and are very friendly. They are very professional, but treat you more like family than customers! I love this bank and would definitely recommend it to my friends!