- Save
-
-
What Are You Saving For?
We all know how important saving money is. Whether you’re a dedicated saver or just beginning to build your savings; we offer a variety of safe and secure savings plans to help your money grow.
-
Savings Accounts
-
Open an Account Online
When you join AMOCO Federal Credit Union you begin your membership by opening a basic savings. This account establishes your ownership in the credit union and is the foundation you can build on to achieve your financial goals.
-
-
- Spend
-
-
What Are You Spending For?
Spending money is a daily part of living; however, smart spending allows you to save for your future. At AMOCO, we believe in investing in you and helping you build your nest egg to take care of yourself and your family.
-
Spend Accounts
-
Want Affordable Checking?
We believe that checking should be made simple, so we have one FREE checking account for all of our members. That’s right, no minimum balance requirements, no direct deposit requirements, no monthly service fee and unlimited transactions!
-
-
- Borrow
-
-
What Are You Borrowing For?
Our goal to make your financial dreams come true. Whether you are purchasing your first car, looking for a great credit card or want to own vacation homes, we help you fund your future.
-
Loans
-
Apply for a Loan Online
At AMOCO, we have loans for your wants and needs. We work hard to provide members with high-quality service, lower rates, and flexible payment options so you can get the most for your money.
-
-
- Insure
-
-
Protect What Matters!
Prepare for the unexpected. Our insurance plans can help you save big while offering excellent coverage. Don’t wait until it’s too late – contact us today to learn more about your options.
-
Insurance
-
Explore Coverage Plans
We’ve broadened our insurance offerings by partnering with reputable organizations. Let us help you find the coverage you need for the things that matter most to you. And the best part? You can potentially save hundreds of dollars annually.
-
-
- Invest
-
-
Invest In Yourself!
Plan our financial dreams – from saving for college to planning retirement. We’ll discover where you want to go and how you will get there.
-
Start Investing
-
Manage Your Investments
Through LPL Financial, you have the ability to manage multiple types of investments, access your account anywhere, anytime and partner with a professional to help understand your unique financial situation.
-
-
- ACCESS MY ACCOUNT
- Special Offers
Saving Everyday: Tips for Cutting Costs
Every little bit counts when it comes to achieving your short-term savings goals. While choosing suitable savings vehicles is important for keeping your savings safe, finding ways to trim your everyday expenses can also significantly impact your ability to save. Let's explore practical tips and tricks for cutting costs to free up more money for your savings goals.
Understanding Your Spending Habits
The first step in cutting costs is understanding where your money is going. Track your expenses for a month or two to examine your spending habits. You can use a budgeting app, spreadsheet, or even a simple notebook to record every purchase you make, no matter how small.
Once you have a clear picture of your spending, categorize your expenses into essential and non-essential categories. Essential expenses include rent or mortgage payments, utilities, groceries, and insurance premiums – costs you can't easily eliminate. On the other hand, non-essential expenses are things like dining out, entertainment subscriptions, or impulse purchases – costs that you could potentially cut back on or eliminate.
By understanding your spending habits and identifying areas where you may be overspending, you can create a targeted plan for cutting costs and boosting your savings.
Trim Recurring Expenses
Trimming your recurring bills is one of the easiest ways to save money on everyday expenses. Look at your monthly subscriptions and memberships, such as gym memberships, streaming services, or subscription boxes. Consider canceling any that you don't use regularly or don't provide significant value.
For essential bills like cable, internet, or phone service, shop around for better deals or negotiate with your current provider for a lower rate. Many companies offer discounts for bundling services or signing up for automatic payments, so be sure to ask about these options.
You can also save on recurring expenses by opting for cheaper alternatives. For example, you might switch from a premium cable package to a basic one or replace your gym membership with free workout videos on YouTube. By finding ways to trim your recurring expenses, you can free up more money toward your monthly savings goals.
Shop Smarter for Groceries
Groceries and household items are another area where small changes can add up to significant savings over time. To save money on these everyday expenses, start by making a shopping list before you head to the store and stick to it. This can help you avoid impulse purchases and ensure that you're only buying what you need.
When shopping for groceries, look for sales and discounts, and consider buying generic or store-brand items instead of name-brand ones. These products are often just as good as their name-brand counterparts but cost significantly less.
You can also save money by buying in bulk, especially for non-perishable items like paper products, cleaning supplies, and pantry staples. Just be sure to compare unit prices to ensure you're getting the best deal, and only buy what you know you'll use before it expires.
Finally, consider using cashback or rewards credit cards for your grocery and household purchases. These cards offer a percentage back on every purchase, adding significant savings over time. Just be sure to pay off your balance in full each month to avoid interest charges. Don't use this approach if there's any concern about your ability to pay the bill in full.
Reduce Transportation Costs
Transportation costs, such as gas, car payments, and public transit fares, can take a big bite out of your budget. To save money on these expenses, consider carpooling or using public transportation instead of driving alone. You can also save on gas by combining errands into a single trip, keeping your tires properly inflated, and using apps to find the cheapest gas prices in your area.
If you're in the market for a new car, consider choosing a fuel-efficient model or even an electric vehicle to save on long-term fuel costs. You can also save money by buying a used car instead of a new one, as new cars depreciate significantly in value as soon as you drive them off the lot.
For those who live in urban areas, consider ditching your car altogether and relying on public transit, biking, or walking instead. Not only can this save you money on gas and car payments, but it can also provide health benefits and reduce your environmental footprint.
Save on Entertainment and Dining Out
Entertainment and dining out are often the first things to go when trying to cut costs, but that doesn't mean you have to eliminate them entirely. Instead, look for ways to save money while still enjoying these activities.
For entertainment, consider opting for free or low-cost activities like hiking, visiting local museums or art galleries, or attending community events. You can also save money by waiting for movies or TV shows to become available on streaming services instead of seeing them in theaters or purchasing them individually.
When dining out, look for restaurants that offer happy hour specials or discounts for certain days of the week. You can also save money by splitting entrees, skipping alcoholic beverages, or opting for cheaper menu items like appetizers or sandwiches.
Finally, consider entertaining at home instead of going out. Hosting a potluck dinner or game night with friends can be just as enjoyable as going to a restaurant or bar but at a fraction of the cost.
The Bottom Line
Saving money on everyday expenses may require some effort and creativity, but the long-term benefits are well worth it.
Remember, small changes can add up to big savings over time. By making cost-cutting a habit and staying committed to your savings goals, you'll be well on your way to achieving your savings goals.