Five simple habits to help your savings grow steadily
A high-interest savings account (HISA) is a simple, reliable way to grow your money over time. Whether you’ve just opened one or have had a HISA for a while, it’s worth asking how can you make the most of it.
The good news is you don’t need complex strategies or financial expertise. A few small habits can help you build momentum and keep your savings working toward your goals.
Automate your deposits
When it comes to saving, putting away smaller amounts regularly can be more effective than trying to save a big lump sum occasionally. That’s where automatic deposits come in.
By setting up a transfer from your chequing account into your HISA on payday, you’ll build savings without having to think about it. It becomes part of your routine, just like paying a bill, but in this case the bill is to yourself.
For example, saving $25 a week doesn’t sound like much. But over a year, that adds up to $1,300, plus interest. If you can manage $50 a week, that’s $2,600 a year. And because it happens automatically, you won’t be tempted to skip a deposit or spend the money elsewhere.
Think of it as a “set it and forget it” approach — one small step today that keeps working for you in the background.
Give your savings a purpose
Saving is easier when it feels connected to something meaningful. Instead of just having extra money in the bank, give your HISA a clear purpose.
Maybe you’re building an emergency fund so you have a safety net if your car breaks down or an unexpected expense comes up. Maybe you’re saving for a vacation or a special purchase. Or maybe you just want the peace of mind of knowing you have money set aside for the future.
Here’s a simple tip: in Coast Online® Banking, you can rename your account. Call it Emergency Fund, Trip to Italy, or Rainy Day Savings. Seeing that label every time you log in can help you track your progress, and it helps you think twice before withdrawing money for something unrelated.
Keep your banking simple
Some people spread their money across different banks, chasing every promotional offer. But this approach can quickly become complicated. Multiple logins, transfers that can take days, and scattered account statements can make it hard to know exactly where you stand.
By keeping your chequing and savings accounts under one roof, you’ll keep your banking simpler. You can move money instantly between accounts, see your full financial picture in one place, and avoid the extra hassle of juggling multiple financial institutions.
That simplicity pays off in other ways, too. When everything is connected, you’re more likely to stick with your savings plan. And at Coast Capital, being a member also means you benefit from advice and support when you need it, without having to look elsewhere.
Check in and get support when you need it
Saving works best when you stay connected to your progress and know where to turn for guidance. You don’t need to monitor your balance daily, but setting a reminder to review your savings every few months can make a big difference.
Ask yourself: are you still on track toward your goal? Could you increase your automatic deposit, even slightly? Have your priorities shifted?
If you’re unsure what to do next, you don’t have to figure it out alone. As a credit union member of Coast Capital, you have access to personalized advice at no cost. Whether you’re deciding how much to keep in your HISA versus a GIC (Guaranteed Investment Certificate), setting a realistic emergency fund target, or balancing short- and long-term goals, a quick conversation with an advisor can help you move forward with confidence.
These small check-ins, whether on your own or with support, can help you stay motivated and make sure your savings are working toward what matters most.
Keep building on your good start
Opening your Coast Capital HISA was a great first step. With a few simple habits — automating deposits, giving your money a purpose, keeping things simple, and checking in regularly — you can turn it into a powerful tool for reaching your goals.
And remember, you don’t have to do it all on your own. We’re here to support you with advice, tools, and resources that help you grow your savings in a way that works for you.
This article is provided for general information purposes only. It is not to be relied upon as financial, tax, or investment advice or guarantees about the future, nor should it be considered a recommendation to buy or sell. Information contained in this article, including information relating to interest rates, market conditions, tax rules, fees, and other investment factors are subject to change without notice and Cost Capital Savings Federal Credit Union is not responsible to update this information. All third party sources are believed to be accurate and reliable as of the date of publication and Coast Capital Savings Federal Credit Union does not guarantee accuracy or reliability of such sources. Readers should consult their own professional advisor for specific financial, investment, and tax advice tailored to their needs to ensure that individual circumstances are considered properly and action is taken based on the latest available information.
