Hartley urges people to save more money
VINITA, Okla. – Whether to control spending or set funds aside for future expenses, more Americans, including Cherokee Nation citizens, should save more money, said Brian Hartley, Oklahoma State Bank’s Native American business development officer.
Hartley, a CN citizen, said there are many reasons for having savings accounts, but they basically boil down to preparing for the future.
“Problems come up, car repairs. Different insurance may come, doctor bills. Maybe I need home repairs as well. We just had a big tornado, so there’s going to be a few people that are going to have to call their insurance, pay a deductible and possibly repair a roof or two…They may even be missing the side of their house and there’s a deductible to pay for your insurance for the insurance to come in,” Hartley said. “People need to definitely prepare for the future. And as a nation, all our reports show that Americans do not save enough. I do not have stats as to what Cherokee Nation is, but I would assume we’re probably in the same category.”
He said he likes people to establish multiple accounts so if they empty one they have a backup.
“It’s not going to be that much trouble to start with a single savings account, start putting things aside. After you get into a habit, start another one for another purpose,” he said. “It’s good to set that money aside and then be able to use it down the road for something else. If you separate it into multiple accounts it helps protect you from not raiding one and just emptying.”
He said many banks open savings accounts for $100 or less, but it varies by institution. He said someone can open an Oklahoma State Bank savings account for $100. He also said someone can open a savings account at the bank for $30 through the tribe’s iSave Program, which helps working Native Americans save money to achieve financial goals. For more information about iSave accounts, call 918-453-5544 or email firstname.lastname@example.org
Hartley said someone should start an account when the required starting amount at his or her institution is met.
“As soon as you have the money in hand to put into a savings account…is the time to start,” he said. “Force yourself to start one because if you don’t force yourself to start a good habit then you’re never going to have a good habit in the future of saving money.”
He said to start an account a state- or federal-government issued photo identification is needed, as well as verification of address. He added that occasionally a second form of ID such as a Social Security card is needed.
Hartley advises people to use direct deposit through their jobs to make deposits into their accounts.
“It’s the common denominator of ‘if I don’t see it and it goes into an account, I’m not tempted to spend it.’ If we can make sure that money is automatically, even if it’s only $10 a paycheck, that’s $10 extra every paycheck to help build those funds that’s earning interest that you didn’t see,” he said. “After a while when you realize you don’t miss it, bump it another 10 and continue that path to set yourself in good financial health down the road.”
He said people should start with what they can afford but advises “the more the better.”
“I would like to see people start with at least 10 and do it every paycheck. Granted it doesn’t seem like a whole bunch right now, but over time it adds up. If you can do more than that even better,” he said. “Whatever you feel comfortable with I just suggest you start.”
He also said if people are new to savings they should open savings accounts instead of money market accounts or certificates of deposit.
“A savings account has its own interest rate. Usually it’s a little more than a money market account but less than a CD. But it gives you the freedom to withdrawing all that money at any time you want. I would recommend it first to get your feet wet,” Hartley said. “If you are more advanced and you have funds, and you need to spend some funds out of it I would look at a money market account. If you have funds available that you know you aren’t going to touch for a year or maybe six months or longer then I would look at a CD because you’re going to have a better return on your money.”
For more information about Oklahoma State Bank savings accounts, call Hartley at 918-713-0229 or email email@example.com
ᏙᏧᏓᏜᎥ, ᎣᎦᎳᎰᎹ - ᎾᎿ ᎠᎦᏎᏔᏅ ᏛᎦᏗᏍᎬ ᎠᏕᎳ ᎾᎴᏱᎩ ᎠᏎᏢ ᏗᎵᏏᏂᏛᏅᎯ ᏱᎩ ᎤᏩᎦᏗᏗᏒ ᏗᎦᏙᏗ ᏓᎸᎬᏩᏢᏍᎬᎢ, ᎤᏂᎪᏓ ᎠᎹᏰᏟ ᎠᏁᎳ, ᏣᎳᎩ ᎠᏰᎵ ᎠᏁᎳ ᏗᏠᏯᏍᏛᏅᎢ, ᏳᎪᏛ ᎠᏕᎳ ᏯᎾᎵᏏᏂᏗ ᎡᎵᏍᏓ, ᎠᏗᎭ Brian Hartley, ᎣᎦᎳᎰᎹ ᏍᎦᏚᎩ ᎠᏕᎳ ᏗᏗᏱ ᎠᏁᎯᏯ ᏧᏂᎸᏫᏍᏓᏁᏗ ᏚᎾᏙᏢᏒᎢ ᏄᎬᏩᏳᏌᏕᎩ.
Hartlet, ᏣᎳᎩ ᎠᏰᎵ ᎨᎳ, ᎢᎸᏍᎩ ᏄᏓᎴ ᏄᏰᎸᏛ ᎠᏕᎳ ᏗᎵᏏᏂᏙᏗ ᏥᎨᏐᎢ ᎠᏗᎭ, ᎠᏎᏃ ᎤᏙᎯᏳᎯ ᎨᏒ ᎤᏩᎦᏗᏗᏒ ᎥᏛᏅᏍᏗᎲᎢ.
“ᎤᏦᏎᏗ ᎢᎩᎷᏤᎰᎢ, ᏗᎦᏚᎴᏂ ᎣᏍᏓ ᏂᏗᎦᏁᏗᎢ. ᏧᏓᎴᏅᏓ ᏗᎫᏓᎸᏗᎢ ᏙᎦᎷᎪᎢ, ᎠᏂᎦᎾᎦᏘ ᏚᎾᏓᏚᎬᎢ. ᎾᎴᏍᏊ ᎠᏇᏅᏒ ᎣᏍᏓ ᎢᏴᏋᏁᏗ ᏱᎩ. ᎡᏆ ᎤᏃᎴ ᎦᎶᎭ, ᎢᎸᏍᎩ ᎢᏳᏂᏨ ᎠᏂᏴᏫ ᏫᏚᏄᏓᎸ ᏫᏚᏂᏃᏎᏗ ᎨᏎᏍᏗ, ᎪᏣᎴᏛ ᎤᎾᏈᏗ ᎨᏎᏍᏗ ᎠᎴ ᏗᎦᏌᎾᎵ ᎣᏍᏓ ᏂᏗᎨᎬᏁᏗ ᏱᎩ… ᏌᏩᎦᏘᏃ ᎤᏁᏅᏒ ᏂᎬᏅᏛᎾ ᏱᎩ ᎠᏎᏃ ᎪᏣᎴᏛ ᎠᎬᏱ ᎤᎾᏈᏗ ᏱᎩ ᎬᎿ ᎬᏩᏂᎷᎯᏍᏗ ᏭᏄᏓᎸᎢ”, ᎠᏗ Hartley. ᎠᏎᎮᏃ ᎠᏂᏴᏫ ᎤᎾᏛᏅᏍᏙᏗ ᎤᏩᎦᏗᏗᏒᎢ.ᎠᎴ ᎠᏰᎵ ᎢᎦᏙᏢᏒ, ᏂᎦᏓ ᎬᏂᎨᏒ ᎢᎬᏁᎸ ᎨᏒᎢ ᎠᎹᏰᎵ ᎠᏁᎳ ᎥᏝ ᏰᎵᎢᎦ ᏯᎾᎵᏍᏂᏗᏍᎪᎢ. ᎥᏝ ᏯᏆᏅᏔ ᏄᏍᏗᏓᏅ ᏣᎳᎩ ᎠᏰᎵ ᎠᏎᏍᎩᏂᏃ ᎤᏠᏯᏊ ᏂᎦᏛᎿ”.
ᎢᎦᎸᏉᏗᎰᏃ ᎢᎸᏍᎩ ᎠᏕᎳ ᏚᏂᏍᏆᏂᎪᏛ ᏧᏂᎯ ᎢᏳᎾᎵᏍᏙᏗᎢ ᎢᏳᏃ ᏌᏊ ᏱᏚᎾᏨᏁᎳ ᏗᏐᎢᏃ ᏱᏚᏂᎯ ᏫᏚᏂᎩᏍᏗᎢ.
“ᎥᏝ ᎥᏍᎩ ᎢᎦ ᏳᏦᏎᏗ ᏌᏊ ᎠᏕᎳ ᏗᎵᏏᏂᏙᏗ ᎠᎴᏅᏗᎢ, ᎠᎴᏅᏗ ᎢᏗᏟ ᏂᎬᏁᎲ ᎠᏚᎸᏗ ᎨᏒᎢ. ᎾᏊᏃ ᏲᎩᏌᎿ, ᏅᏩᏓᎴ ᎠᎴᏅᏛ ᏅᏩᏓᎴ ᎪᎱᏍᏗ ᎬᏙᏗ ᎤᎬᏩᎵ,” ᎤᏛᏅᎢ. “ᎣᏏᏳ ᎢᏗᎵ ᏗᏗ ᎠᏕᎳ ᏅᏩᏓᎴ ᎪᎱᏍᏗ ᏗᎦᏙᏗ ᏱᏄᎵᏍᏓᎾ ᎤᏩᎦᏗᏗᏒᎢ. ᎢᎸᏍᎩᏃ ᏱᏙᎭ ᎠᏕᎳ ᏗᎵᏍᏂᏓᏅᎯ ᎥᏝ ᏌᏊᎢᏊ ᏱᏛᎦᏴᎦᏓᏃᏅ.
ᎢᎸᏍᎩᏃ ᎠᏕᎳ ᏗᏗᎢ ᎤᎾᎵᏍᏉᎸᏙ ᏍᎪᎯᏥᏈ ᏂᎨᏒᎾ ᎴᏱᎩ ᏗᎵᏏᏂᏗᏙᏗᎢ, ᎠᏎᏍᎩᏂ ᎥᏝ ᏂᎦᏛ ᏳᎾᎵᏍᏉᎸᏙᎢ ᎥᏍᎩ ᎢᏯᏛᏁᏗᎢ ᎠᏗᎭ. ᎩᎶᏃ ᎡᎵᏊ ᎠᏕᎳ ᏧᎵᏏᏂᏙᏗ ᏯᏍᏚᎠ ᎣᎦᎳᎰᎹ ᏍᎦᏚᎩ ᎠᏕᎳ ᏗᏗᎢ ᏍᎪᎯᏥᏈ ᎠᏕᎳ ᎠᎴᏅᏗᏍᎬᎢ ᎠᏗᎭ. ᎩᎶᏃ ᎡᎵᏊ ᏯᏍᏚ ᎠᏕᎳ ᏧᎵᏍᏂᏙᏗ ᏦᏍᎪᎯᏊ ᎠᏕᎳ ᏯᎴᏅᏛ ᎾᎿ ᎢᎩᎸᏍᏓᏢ iSave Program ᏳᏛᎾ, ᎠᏁᎯᏯ ᏧᏂᎸᏫᏍᏓᏁᎯ ᏓᏂᏍᏕᎵᏍᎪ ᏚᏄᎪᏛᏅ ᎢᎦ ᎠᏕᎳ ᏧᎾᎵᏏᏂᏙᏗ ᎥᏍᎩ ᎢᎦ ᏧᎾᎵᏏᏂᏙᏗᎢ. ᎤᎪᏛ ᏣᏕᎳᎰᎯᏍᏗ ᏱᏣᏚᎵ iSave Accounts ᎤᎬᏩᎵ, ᎠᎭᏂ ᏳᏩᏝᏃᎲᎵ (918) 453-5544 ᎠᎦᏙᎲᏍᏗ ᎠᏍᏆᏂᎪᏗᏍᎩ ᏱᏣᎭ firstname.lastname@example.org ᏳᏫᏲᏪᎳᏏ.
“Hartley ᎯᎠ ᏄᏪᏎᎢ ᎩᎶᏃ ᎠᏕᎳ ᏧᎵᏏᏂᏙᏗ ᏳᏚᎵᎭ ᎾᎯᏳ ᏳᏕᎶᎰᏏ ᎢᎦ ᎤᏂᏁᏨ ᎤᎴᏅᏙᏗ ᎾᎿ ᏚᎸᏫᏍᏓᏁᎲ ᎩᎶᏃ ᏧᎸᏫᏍᏗᏁᎯ ᎠᏕᎳ ᏧᎵᏏᏂᏙᏗ ᎽᏚᎵᎭ ᏣᏕᎶᎰᏍᎪ ᎢᎦ ᎦᏳᎴᏅᏙᏗ ᎨᏒ ᎾᎯᏳᎢ ᎤᎴᏅᏗ ᎠᏗᎭ Hartley.
“ᎠᏕᎳᎮᏃ ᏱᏙᎭ ᎾᎯᏳ ᎠᏕᎳ ᏗᎵᏏᏂᏙᏗᎢ ᏫᏓᏗ,” ᎠᏗᎭ. ᎠᏎᏏ ᎥᏍᎩ ᎢᏣᏛᏁᏗ ᏣᎵᎩᏐᏗ ᎢᏰᏃ ᎥᏍᎩ ᎿᏛᏁᎲᎢ ᎥᏍᎩ ᏂᏣᏛᏁᎸᏂ ᎢᎨᏎᏍᏗ ᎥᏝ ᏔᎵᏏᏂᏅᏗᏍᎩ ᏱᎨᏎᏍᏗ ᎠᏕᎳ ᎤᏩᎦᏗᏗᏒᎢ.”
ᎠᎴᏅᏗ ᏛᎵᏏᏂᏗᏍᎬ ᎠᏕᎳ ᎠᏎᎢᏍ ᏍᎦᏚᎩ ᎾᎴᏱᎩ ᏩᏥᏂᏃ ᎡᏣᏅᏁᎸ ᏆᎾᏲᏍᏗ ᏕᏣᏟᎶᏍᏔᏅ ᎤᏓᏴᎳᏛ ᏣᏂ ᎢᏳᎵᏍᏙᏗ ᎨᏎᏍᏗ, ᎾᏃ ᎪᏪᎵ ᎧᏃᎮᏍᎩ ᎯᏁᎸᎢ. ᏳᏓᎵᎭᏃ ᏐᎢ ᏆᎾᏯᏍᏗ ᎠᏂᏔᏲᎯᎰᎢ ᏴᏛᏅ Social Security card.
Hartley ᎢᎩᏃᎯᏎᎭ ᏗᎩᎸᏫᏍᏓᏁᎯ ᎡᎦᏈᏴᎮᎬ ᎠᏕᎳ ᏗᏗᎢ ᏥᏳᎪᏗ ᏫᏗᎦᎷᎩ ᎢᏗᎬᏁᏗᎢ ᎠᏕᎳ ᏗᏎᎯᏍᏗ.
“ᏂᎦᏗᏳ ᎯᎠ ᏂᏕᎵᏍᎪ’ ᎢᏳᏃ ᎾᎩᎪᎲᎾ ᏱᎩ ᏫᎦᎷᎬ ᎠᏕᎳ ᏗᏂᏏᏂᏙᏗᎢ , ᎥᏝ ᏱᎬᏆᏚᎳ ᏗᎬᏙᏗᎢ.’ ᎢᏳᏃ ᏱᎦᏅᏛ ᏥᏳᎪᏗ ᏫᏗᎦᎷᎩ ᏱᎩ ᎤᏁᎳᎩ ᏍᎪᎯᏊ ᎠᏕᎳ ᏱᎩ ᎡᎦᏈᏴᎮᎬ ᏍᎪᎯ ᎠᏕᎳ ᎧᏁᏉᎩ ᏂᏗᎪᏩᏘᎲᎾ” ᎠᏗᎭ. “ᏂᎪᎯᎸᏂᏃ ᏂᎦᏢᎬᎾ ᏱᎩ, ᎠᏏᏊ ᏍᎪᎯ ᎠᏕᎳ ᏳᏙᎩᏅ ᎠᎴ ᎥᏍᎩ ᎢᏗᏟ ᏱᏫᏗᎦᏘ ᏱᏓᏤᎳᏍᏗ ᎠᏕᎳ ᏕᎩᎲ ᎤᏩᎦᏗᏗᏒ ᏗᎦᏙᏗ.”
ᎠᎾᎴᏂᏍᎬ ᏄᏂᏤᎲᎢᏊ ᎢᎦ ᎤᎾᎵᏏᏂᏙᏗ “ᎠᏎᏍᎩᏂ ᏳᎪᏗ ᏱᏓᏤᏟ ᎠᏗᎭ”
“ᏯᏆᏚᎵᏃ ᏍᎪᎯ ᎠᏕᎳ ᎤᎾᎴᏂᏙᏗ ᎡᎦᏈᏴᎡᎬᎢ. ᏝᏰᏃ ᎥᏍᎩ ᎢᎦ ᏱᎦᏕᎸ ᏃᏊ ᎨᏒᎢ, ᎠᏎᏃ ᎠᏟᎢᎴᎬ ᏓᎦᏅᏉᏥ. ᎢᏳᏃ ᎤᎪᏛ ᎢᎦᏣᏛᏅᏗ ᏱᎩ ᏱᏓᏤᏟ,” ᎠᏗᎭ.
“ᏂᏣᏤᎲᎢᏊ ᎢᏣᏛᏁᏗ ᎭᎴᏂᏍᎬᎢ”
ᎯᎠᏃᏍᏊ ᏂᎦᏪ ᎩᎶ ᎩᎳ ᏯᎴᏂ ᏓᏤᏝ ᎠᏕᎳ ᏗᏗᎢ ᏳᎴᏅᏔᏂ ᎠᎬᏱ ᎠᏏᏃ ᎠᏕᎳ ᏧᎶᏏᏓᏍᏗᎢ ᎾᏃ ᎬᏂᎨᏒ ᎢᎬᏁᎸ ᎠᏕᎳ ᏫᏓᏅᎯ ᎨᏒᎢ.
“ᎠᏕᎳ ᏗᏗᎢᏰᏃ ᎠᏎᏢ ᎠᎾᏓᎾᏟᏍᎪᎢ. ᎠᏎᏍᎩᏂ ᎤᏍᏗ ᎤᎪᏓ ᎠᏏ ᎠᏕᎳ ᏧᎶᏏᏓᏍᏗᎢ ᎠᏎᏃ ᎠᎦᏲᏟ ᏏᏃ CD ᎨᏒᎢ. ᎠᏎᏍᎩᏂ ᎡᎵᏊ ᏂᎦᏓ ᎠᏕᎳ ᏫᏓᎩᏍᏗ ᎨᏐᎢ. ᎥᏍᎩᏃ ᎠᎬᏱ ᏱᎾᏛᏁᎳ ᏦᎳᏏᏕᎾ ᏱᏗᎦᏚᎳᏍᏔᎾ ᎠᏗ Hartley. “ᏳᎪᏛᏃ ᎠᏕᎳ ᏱᏗᏣᎭ, ᎢᎦᏛᏃ ᏗᏣᏍᏙᏗ ᏱᏣᏚᎵᎭ ᎾᎿ ᎠᏕᎳ ᏧᎶᏏᏓᏍᏗ ᏯᎩᎦᏛᏂᏛ. ᎢᏳᏃ ᎠᏕᎳ ᏱᏗᏣᎵᏏᏂᏗ ᏂᏙᏛᏓᏂᏒᎾ ᏱᎩ ᏑᏕᏘᏴᏛ ᎾᎴᏱᎩ ᏑᏓᎵ ᎢᏯᏅᏗ ᎤᎶᏑᏍᏗ ᎴᏱᎩ ᎢᎪᎯᏛ CD ᏯᎩᎦᏛᏂᏗ ᏅᏗᎦᎵᏍᏙᏗᎭ ᎤᎪᏗ ᎠᏕᎳ ᏴᏣᎷᏥᏏ.”
ᎤᎪᏛ ᏣᏕᎳᎰᎯᏍᏗ ᎯᎠ ᎣᎦᎳᎰᎹ ᏍᎦᏚᎩ ᎠᏕᎳ ᏗᏗᎢ ᎤᎬᏩᏂ ᏱᏣᏚᎵ, Hartley ᏳᏫᎵᏃᎮᏛ (918) 713-0229 ᎠᎦᏙᎲᏍᏗ ᎠᏍᏆᏂᎪᏗᏍᎩ ᏱᏣᎭ email@example.com ᏳᏫᏲᏪᎳᏏ.