“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”-Robert Kiyosaki.

This quote highlights the importance of not only earning money but also managing and growing it effectively. At Farmers & Merchants Bank we believe that saving wisely is a key step in your financial success. Here are four ways that you can improve your saving strategies and reach your financial goals.

Automate Savings

It may seem simple, but the act of setting up recurring transfers from your checking account to your savings account helps you save consistently without effort. You’ll be surprised to see how quickly these small amounts add up.

Make every penny count with The Simple Savings Program, a free automatic savings service that can be attached to any Farmers & Merchants Bank checking account

Anytime you make a purchase using your debit card, the purchase amount will round up to the nearest $1 and the difference will be deposited into your linked savings account. The transfer is not cash back from the bank but rather a transfer of your own money to help you easily and effortlessly build your savings account.

Track Spending

Keeping a record of your daily expenses helps you spot spending patterns and identify areas to cut back, whether that be going out to eat, shopping, or impulse buys. Understanding your spending habits is the first step in understanding how you can save.

If you have FMB Online Banking or the Mobile App, you can track and manage your finances with Money Management. This is a great place to get a full understanding of your financial picture and gain powerful insights into when, where, and how you spend.

Open a Certificate of Deposit

A CD offers a fixed interest rate and higher returns than a regular savings account. CDs are a great low-risk way to grow your savings.

Our CDs offer competitive interest rates on multiple term lengths.

Cut Back on Subscriptions & Bills

Reviewing your purchases and statements digitally is a great way to spot and cancel unused subscriptions. It also gives to a snapshot into the monthly expenses you are paying for. It is always a good idea to negotiate or seek out lower rates for services like internet & TV.

With our Mobile Banking you can take your accounts with you anytime and anywhere. You can view account balances and statements, transfer funds, deposit checks and more.