Divvying Up Your Direct Deposit

Go Dutch! (Split the Check)

How?

Splitting up your paycheck is easy peasy, as long as your employer offers the ability to do so (many do). To double check, just ask your payroll department or sign into your account on your payroll provider’s website.

If your employer doesn’t allow you to split it, one hack is to set up recurring transfers from checking to savings automatically through your bank (or UNbank 😉)! If your employer does allow you to split your direct deposit: you’re golden. The possibilities for your money are endless!

Why?

One popular reason for divvying up your direct deposit is budgeting. For instance, does it seem like toward the end of a paycheck, you never have quite enough for groceries or gas? Or you’re dipping into savings? Try making a separate account for those expenses to prioritize them over other spending! Then allocate money from your direct deposit to go straight to that account.

Or perhaps you’re a Type A personality who loves organization! Splitting up your check can help you stay organized and track your different savings—such as a vacation fund, holiday shopping money, wedding savings, etc. Divvying up your direct deposit is perfect for helping you stay on track toward your financial goals.

Mo’ Planning, Mo’ Money

Not only can splitting your check help with budgeting, it can also earn you money! One way to do this is to split part of your direct deposit from your paycheck into a high-yield savings account or an investment account. If it’s money you know you’re not going to touch for awhile anyway, you might as well make the most of it while it’s sitting in your bank account!

Bonus perk: Once you start seeing the interest you earn in these types of savings accounts, you’ll be less tempted to spend it.

A Little Goes a Long Way

You may think dedicating, say, $20 bucks a paycheck to a separate savings account isn’t worth it… but think about all those paychecks added up. By the end of one whole year, you could have over $500 tucked away! Did you know: According to a study by the Federal Reserve in 2022, about 32% of U.S. households could not afford to pay for a $400 emergency with cash. You could be in that 68% just by divvying up your direct deposit!

Bonus UNbanking Perks

If you’re already starting to think of ways to rework your direct deposit, why not move it over to Community Choice for even more perks & benefits? Community Choice offers discounts on certain loans when you have your direct deposit set up with us!

Move your direct deposit today and start using all this information you just learned to make your money work for you!

Equal Opportunity
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