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Fall In Love With Saving

It’s not a face mask or hot bubble bath, but saving money is an important form of self-care. It relieves you of worry and financial stress, benefitting both your mental and physical health in the long run. This Valentine’s Day, show yourself some love by stashing some cash. Here are some things to consider saving for:

Emergency fund

You never know when you’ll get into a pickle. By contributing to your emergency fund, you’ll stress less knowing that you can pay for unexpected expenses when they crop up, such as a major car or home repair or next month’s rent in the event you get sick and can’t work. 

Education savings

If you have young children, saving for their college expenses is a smart move. Education savings accounts offer a way to make tax-deferred contributions and earn tax-free interest on that money as long as it’s used for education-related expenses.

Health Savings Account (HSA)

You might want to consider opening an HSA if you have health insurance that carries a high deductible. In this type of account, your money earns tax-free dividends, and these funds never expire for qualified medical expenses.  

Down Payment

When it comes to buying a home, there are several types of mortgage loans you can apply for, but they all require a down payment. Connect with our Mortgage Team to determine how much you’ll need to save, so that when you find that dream home, you’ll be financially ready to make an offer.

Retirement

If your employer offers a retirement plan, take advantage of it and contribute as much and as often as you can. And schedule an appointment with O Bee’s financial advisor, Dave Littleton, to make sure you’re maximizing your investments and retirement funds to meet your future goals.  



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