Top 5 Saving Tips for Millennials Using the Best Savings Account in North Las Vegas
As a millennial, you probably know you're being studied, scrutinized and analyzed about what you eat, drink and purchase and how you think, reason and behave. Millennials are affecting how companies do business, recruit and advertise.
It's tough to be popular, as your Baby Boomer parents know all too well - , they once had the same type of curiosity about their generation. But when it comes to money and the older generations, it may help to heed that advice about "listening to what they say, not what they do." Start by opening the best savings account in North Las Vegas through Clark County Credit Union and follow these tips to become a good saver.
Baby Boomers are not savers, but you can be
Your parents' generation has proven to be poor savers: a study of 7,000 (older) adults by GOBankingRates showed 69 percent of the respondents had less than $1,000 saved – and 34 percent had no savings at all.
Your parents liked banks but didn't make the best use of them. Millennials, meanwhile, are generally assumed to despise banks and their "big business, indifferent style." You'll find the opposite culture at Clark County Credit Union, a nonprofit entity that embraces members – not customers – with low rates on car loans and great interest rates on CDs and money market accounts. Members also share in annual dividends; since 2001, Clark County Credit Union has paid more than $56 million in dividends back to its member owners – a benefit you will never receive from any bank, big or small.
As a member, you can always make an appointment with one of CCCU’s financial advisers who stand ready to answer all of your money-related questions. They can, for example, guide you to the best savings account in North Las Vegas. Because they genuinely care about your financial future, they will impart five tips that will set you on a sure path to financial security:
- Set up an automatic savings plan and learn to "pay yourself first." Want to be a millionaire by the time you're 40? It can be done, though it probably will reduce your discretionary purchases in the meantime. After a few months, you probably won't even miss the nominal amount taken straight from your paycheck.
- Repay debt in a strategic manner. Like many 20- to 35-year-olds, you may be focused on paying off student loans. But if they carry low interest rates, you are better off paying high-interest credit cards first. If you have multiple cards, CCCU can help you transfer balances to the card with the lowest rate, if possible.
- Establish an emergency fund. Financial experts recommend setting aside enough money to pay all your bills for six months – just in case you find yourself between jobs or transitioning to a new career.
- Build a credit rating with a Clark County Credit Union Visa card, which carries a low interest rate and no annual fee. You will need a credit history to eventually purchase a home or car.
- Create a long-term savings plan. You may blanch at the term "retirement plan" because that stage of life seems so far off in your future. Remember, saving small amounts of money over a long term is always smarter than trying to save in larger denominations much later. CCCU can help you open an Individual Retirement Account your parents will respect.
Start with the best savings account in North Las Vegas
If you're getting the idea the best savings account in North Las Vegas will play a vital role in your future, you're every bit as smart as millennials are assumed to be. While 60 percent of Americans say, "running out of money" is their number one fear, Clark County Credit Union will help ensure that won’t happen to you. Call CCCU at 702-228-2228 to get started today.