Savings Strategies to Help You Reach Your Goals

Hello Friends! Thank you Ryan Dang of Wells Fargo for these tips:

No matter what you’re saving for, these strategies will help you get there.
– Set a Timeline. I.e. “By 2026, I will save $20,000 for a down payment on a home.
– “Calculate a monthly savings amount for each goal.
– Add the total monthly savings goals into your budget.
– Consider budget shifts to accommodate the new goals.
– Set up automatic deposit to your savings account.
– Aim to transfer at least 10% of each paycheck.
– Consider saving accounts that earn interest.

For short-term savings goals, consider low-risk accounts. These earn compound interest with higher APY.

– High-Yield Savings Accounts — Pays up to ten times the interest rate offered by traditional accounts.
– CDs (Certificate of Deposit) — Must leave funds in for full-term to avoid early withdrawl penalties in most cases.
– Money Market Accounts — Interest rates vary with the market.How long should you save for?

Savings Goal Duration
Emergency Fund Short-term
Vacation Short-term
Down payment Short-to-mid term
Education Mid-term
Retirement Long-term

Got Questions? The Caton Team is here to help.

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The Caton Team - Realtors

Sabrina & Susan are native Californians - born and raised in the Silicon Valley with a passion for Residential Real Estate. A mother and daughter-in-law duo called - The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email Info@TheCatonTeam.com The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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