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Saving money can be a challenge for people working toward multiple financial goals. There are steps you can take to make the process easier, including setting up multiple savings accounts at your bank. This gives you greater control over money saved each month, which is a great way to make your savings work harder for you.

Multiple Savings Accounts at Your Bank Can Help You Do the Following

1. Pay for Emergencies

Life is full of surprises. For instance, you may find yourself suddenly injured or ill and in need of medical care as a result. Hospitalizations, surgeries, or therapy can often be expensive, even if you have health insurance. An emergency savings account is perfect in this case, as it can cover gaps in health insurance and ensure you get the care you need.

2. Cover Monthly Bills

bankBills for heating tend to be much higher over the winter months. You can mitigate these costs by saving money when utility bills are low in the spring and summer. That way you can plan for exorbitant heating costs, which will help you stick to a budget all year long.

3. Pay for Auto Repairs

In the event you’re involved in an auto accident, damage can be significant. Without a car, you’ll be unable to earn a living, and without your job, you won’t be able to maintain your current financial status. Even if you’re a safe driver, accidents can happen, and you can’t count on your car insurance to pay out in all cases.

 

For nearly a century, Citizens Bank has offered its customers premier banking and loan services. Learn more about their personal banking by checking out their website today or call (662) 838-2146 to speak with a banking professional in Byhalia, MS, about your specific needs. This bank also provides 24-hour access to accounts, so you can manage your money when needed. Member FDIC. 

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