Although essential, making money is only part of the equation for financial stability.
After receiving a paycheck or generating revenue, an individual must use the funds to pay for everyday expenses while saving for the future and unforeseen circumstances.
Unfortunately, the current economic climate complicates the process. Salaries don’t go as far as they used to, and saving has become a financial goal that few go on to accomplish.
ONE To The Rescue
There may not be much anyone can do to change the current economy, but they can take steps to manage their finances better to secure their future.
With banking and financial agencies like ONE available, customers have access to various tools and services, making saving easier.
A Sacramento, CA agency founded in 2019, ONE has helped consumers across the country save hundreds of thousands of dollars amid an economic crisis. Continue reading to learn more.
Ways To Save With ONE
How does becoming a ONE customer help you save more money each year? Let’s take a closer look.
No Traditional Banking Fees
Most bank customers incur monthly, annual, and transactional fees.
Some banks charge fees for low account balances, monthly maintenance, using out-of-network ATMs, wire transfers, bill payments, and more.
While paying a few bucks a month to store your money and use banking services may not seem like much, it quickly adds up after a few months.
ONE account holders don’t have this problem as the accounts are free, saving them several hundred or thousand dollars annually.
Free Direct & Mobile Check Deposit
Cashing your paycheck at a bank or check-cashing business could cost you several bucks each pay cycle.
Check cashing fees can be as much as 2.00% of your pay.
ONE offers free direct deposit and mobile check deposit options to its customers, so they can get every cent of what they’ve earned.
High-Yield Accounts
The annual percentage rate is the amount of money or interest an account holder can receive on funds in a bank account.
Traditional banks offer lower APRs.
On the other hand, ONE accounts accrue 3.00%. The higher interest rate means that customers can save more for unforeseen circumstances and future expenses.
Pockets
When you open an account with ONE, you’re given three sub-accounts known as Pockets (Spend, Save, and Auto-Save), with an option to create personalized pockets to accommodate your spending habits and budget.
By dividing your funds into categories, you can make more informed purchasing decisions, stick to your budget, and save more money.
Not to mention the 3.00% APR, which helps you grow your money faster.
Overdraft Protection
While having enough money in your account to cover expenses is necessary, sometimes things don’t go according to plan.
Traditional banks charge insufficient funds and overdraft fees when mistakes are made, averaging $25-$35 per transaction.
A ONE account holder can rest easy, knowing that they have overdraft protection that eliminates fees when funds are lower than expected.
Lines of Credit And Credit Builders
When you have no or poor credit, you’re going to pay more to acquire credit cards, lines of credit, loans, and other financial products.
Higher interest rates mean repaying more to service providers and an increased risk of going into debt. ONE customers can save money despite their credit status.
Those with good to excellent credit can open a line of credit at only 12% interest.
Account holders with fair to poor credit can use a credit builder to boost their scores and save money over time.
No matter what your annual salary is, learning how to maximize your income and save is essential to achieving financial stability.
As sticking to savings goals isn’t as easy as it used to be, consumers are encouraged to turn to service providers like ONE for assistance.
When you open an account with ONE, you access a variety of tools that can help you save for current, unexpected, and future needs.