How to Save Money - Free Tools to Help
Part of our mission is to enable Indianapolis families and citizens (our members) to achieve financial health. Saving for the future is one of the best ways to do that. Use the tools below to find out how much should you be saving and to create your personal savings plan.
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Savings Target Calculator- We all know we should be saving more than we do, right? But, how much should we be saving? The answer depends on many factors. This tool helps you sort through those factors and determine how much you ought to be saving on an annual basis.
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Power of Compounding - It is truly amazing how effective even a small savings program can be if it is continued over time. This tool shows how much you can accumulate in savings by making weekly deposits and leaving it to earn interest.
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Savings Challenge (PDF) - As of 9/20/2023, we are no longer offering the Savings Challenge.
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Emergency Fund Account - We think everyone should have an emergency or rainy day fund equal to at least one month’s expenses. This tool helps you determine how much you should have in your emergency fund. FHFCU offers members a special emergency fund account to help them build their emergency fund.
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Assessment Tool - This is a good place to begin in your quest to become more financially healthy. This assessment is simple to complete and you can score it yourself. Once you have done so, it will provide you with comments and information to help you understand which of the range of financial health topics you should be focusing on.
