Save It!

Open a Checking or Savings Account

By using a bank account, you establish a financial history and record of successful bank use. When you want to buy a house or car, for example, you have to show your credit card history or history of bank or car loans. By starting an account, you create a relationship with that bank so you can borrow money in the future.

Compared to cashing your paycheck and using money orders, a checking account can save you more than $1,000 every year! See how much you can save.

Add to an Existing Checking or Savings Account

Checking accounts are safe and convenient. It’s a good idea to keep money here for short-term savings goals. Make a solid nest egg by adding to the money you have.

Open or Add another Account

If you have other savings plans, like a 529 Education Plan or 401(k) Retirement Plan, think about using your EITC money to save for the future. Your money grows tax free in many of these plans. Plus, you can gain more interest over time or even get matched for every dollar you deposit.

Add to Your Retirement Plan

You are never too young to start saving for retirement. You can start with Social Security, but you’ll need more than that to retire. There are different kinds of retirement plans you can invest your money in to save for retirement. The two most important programs for saving for retirement are below.