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5 easy ways to pump up your savings

Get paid incentives for saving
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Get paid incentives for saving

Bank incentives are alive and well.

With Bank of America's Keep the Change program, every time you make a debit card purchase, the bank rounds up the number to the nearest dollar amount and deposits it in your savings account. The bank also will match your savings for the first three months, up to $250.

"It's the electronic equivalent of dropping spare change in a glass jar," McBride says.

BBVA Compass has a similar program. When you link your checking account with its Build My Savings account, the bank matches a percentage of your transfers, up to $250 per year. And U.S. Bank has a S.T.A.R.T. savings program, which hands out a $50 Rewards Visa Card when your balance reaches $1,000.

Still, incentives may be more than offset by higher fees and lower yields, McBride says.


 

 

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