Quiz: What Kind of Saver Are You?

Utah is an adventurer’s paradise — from red rock canyons to Wasatch peaks. But did you know your approach to adventure might reflect your savings habits, too? Take our quiz (below) to discover your savings style and get expert tips to make your financial journey just as rewarding as your next adventure!

Your Savings Style, Your Strategy

The Trailhead Strategist

Savings Tip: Chart Your Course to Smarter Saving

A good trail map makes all the difference when planning a successful journey. Your savings strategy should be no different. Whether you're just starting out or looking for the best route to maximize your returns, Bank of Utah has accounts designed to help you stay on course.

• Pick Your Starting Point: If you're building your savings over time, I Save offers a simple way to start, letting you add more as you go while earning tiered interest. You'll have unlimited withdrawals and deposits, giving you flexibility as you grow your balance.

  If you already have a larger amount saved — $25,000 or more — and don't need to move funds as often, My Money Market helps you maximize returns with higher-tiered interest while allowing for occasional transactions.

  Raising a little trailhead strategist? A Children’s I Save account is a great way to help kids start their own financial journey and build smart saving habits early.

• Set Up Base Camp: Pay yourself first by automating deposits into your savings, so you're always prepared for the next step.
• Look Ahead: Balance short-term needs with long-term goals. Keep easily accessible funds in a savings or money market account, while growing long-term savings with a certificate of deposit.

Pro Tip: Keep Your Bearings with My Money Hub

Every good trekker keeps an eye on their progress. With online and mobile banking, you can connect all your accounts (even those from other financial institutions) — including checking, savings, loans and retirement — giving you a full financial picture in one place. My Money Hub, a free personal financial management tool included with your account in online and mobile banking, helps you track trends and find extra money to save.

Talk to a Banker About:

• ✔ Mapping out your short- and long-term savings
• ✔ Maximizing tiered interest
• ✔ Incorporating advanced strategies like CD laddering, where you divide your savings into multiple CDs with staggered maturity dates

The Powder Planner

Savings Tip: Build a Savings Strategy That Works Year-Round

You know how to time things just right, so why not take the same approach with your savings? A smart plan helps you set money aside when expenses are low and put extra cash to work when the opportunity arises.

• Set Aside More When the Forecast is Clear: Set aside extra cash during months when big bills aren’t due or travel plans are quiet. A high-interest savings account, like I Save, lets you keep your funds accessible while earning tiered interest as your balance grows.
• Adjust When the Season Brings Bigger Expenses: Adjust savings during high-spending months, like holidays or when you typically make larger purchases, to keep your budget balanced.
• Put Extra Cash to Work for the Long Haul: Whenever you get a bonus, tax refund or rebate, consider adding a portion to a Super Saver CD to lock in a competitive interest rate while continuing to grow your savings over time.

Pro Tip: Plan Ahead for Bigger Goals

Big-ticket items — whether it’s ski gear or a dream trip — are easier to afford when you plan ahead. Use My Money Hub, a personal financial management tool in online and mobile banking, to track spending, set savings goals and monitor progress.

Talk to a Banker About:

• ✔ Setting up a seasonal savings plan
• ✔ Automating savings while keeping funds accessible
• ✔ Making sure your savings keep up with your future plans

The Desert Wanderer

Savings Tip: Build a Fun Fund While Planning for the Future

You love making the most of life, so why not set aside funds to enjoy it stress-free, while also preparing for the future? A well-planned savings strategy helps you fund experiences today while keeping a portion of your money growing for long-term security.

• Start a Fun Fund: Open a savings account with tiered interest, like I Save, to set aside money for travel, concerts or bucket-list adventures. The more you save between trips, the more you can ear, so your next getaway is already in motion before you even start planning.
• Give Big Spends a Second Thought: Before making a major purchase, wait 24 hours. If it still feels worth it — and you've checked your trends and budgets using My Money Hub, a personal financial management tool in online and mobile banking — then you can buy with confidence knowing it fits your financial plan.
• Keep an Eye on the Big Picture: Fun spending should be just one part of your financial strategy. You can also set aside funds you won’t need right away in a certificate of deposit account, earning a higher, locked-in interest rate while ensuring those savings stay put for future financial security.

Pro Tip: Celebrate Savings Milestones

Set up online banking alerts to notify you when your Fun Fund reaches a goal, so you’ll know exactly when you’re financially ready for your next big trip or experience.

Talk to a Banker About:

• ✔ Keeping splurge money separate from other savings goals
• ✔ Making the most of tiered interest
• ✔ Balancing fun spending with long-term financial security

The Canyon Minimalist

Savings Tip: Keep Saving Simple While Growing Your Balance

You prefer a straightforward approach, so why not make saving effortless? With the right plan in place, you can steadily grow your savings without overcomplicating your finances.

• Use One Solid Foundation: Open an I Save account and use it as your go-to savings home base — no need to juggle multiple accounts.
• Let It Build Naturally Set up a small, consistent deposit, like $50 per paycheck, so your savings grow steadily with minimal effort.
• Build a Financial Safety Net: A simple, consistent habit helps you prepare for the unexpected — without overcomplicating your finances. Think of your I Save account as both a place to grow your money and a cushion for emergencies.

Pro Tip: Let Your Savings Work for You

Your I Save account is designed to help your money grow, so focus on keeping deposits flowing in and withdrawals to a minimum. The more consistently you save, the faster your balance adds up.

Talk to a Banker About:

• ✔ Maximizing savings while keeping it simple
• ✔ Setting up an easy-to-maintain emergency fund
• ✔ Automating your savings for long-term financial stability

No Matter What Kind of Saver You Are…

And when you want expert guidance, Bank of Utah’s friendly bankers are here to help, offering insights and strategies to grow your savings at every stage.

Start saving smarter today! Open an I Save account and, for a limited time, earn $100 when you meet specific requirements. Learn more here.