Essential Tips To Jumpstart Your Savings With Spruce Built By H&R Block

Disclosure: This article is sponsored by Spruce, which launched on January 20th! Spruce is a mobile banking app that includes Spending and Savings accounts and a debit card to help you be good with money! Spruce is a financial technology platform built by H&R Block, which is not a bank. Banking products provided by MetaBank®, N.A., Member FDIC. 

Spruce built by H&R Block

No matter where you are starting from, taking action to get your finances under control and save more money is a big step. Smart money moves can open the door to new possibilities in your life. But what if you aren’t sure where to get started?

Don’t worry! In this article, we are sharing some essential tips to jumpstart your savings. Plus, we’ll cover how to use Spruce built by H&R Block to seamlessly take your finances to the next level!

Take control of your finances and jumpstart your savings

You’ve decided that you want to take control of your finances. That’s a great first step! Now it is time to put that intention into action.

Here’s how you can make sure your finances reflect the goals you have for yourself!

Are you saving enough?

The first step is to take a close look at your spending and saving habits. After a careful tally of your spending and saving, you should be able to determine how much you are saving each month.

On average, Americans save around 7% to 8% of their income each month. There was a massive spike in average savings throughout 2020 to an average savings rate of up to 33.8%. But that level of saving is not the norm.

But as a general rule of thumb, putting at least 20% of your monthly income towards savings and debt repayment is a good idea. That idea stems from the 50-30-20 budgeting method, which suggests that you spend 30% of your income on discretionary income, 50% of your income on essentials, and save the remaining 20%.

See where you stand against these benchmarks. Are you able to save anything at all? Are you crushing the savings game each month? Or maybe just steadily adding to your savings when you can.

Remember that saving something is better than nothing! You can utilize Spruce's automated savings feature to create personalized savings goals and make saving money easier. The more you can save, the more financial opportunities you can create for yourself.

How To Create A Savings Goal Strategy That Really Works! | Clever Girl Finance

How to create savings goals

Savings goals can be built around anything you want to achieve in your life.

For example, let’s say you want to take a once-in-a-lifetime trip to Fiji. That would be a perfect savings goal. Other examples of savings goals include saving for a down payment, tucking away funds for a target retirement date, or intentionally saving each month for a future car purchase.

Take the time to consider what expenses may be tied to the goals on your horizon. With an idea of what you’ll need to save to achieve a particular goal, think about the timeline. Are you attempting to save thousands in a short period of time? Or do you have several years to reach the goal?

Once you have a dollar amount and a timeline in mind, it is time to determine how much you’ll need to save each month to reach your goal.

For example, if you want to buy a new car at the cost of around $30,000 in 5 years without taking on a car payment, then you’ll want to save $500 per month.

Keep in mind that you can stack multiple savings goals together.

How to stick to savings goals

Setting a savings goal is one thing. But sticking to a savings goal is an entirely different ballgame. Here are some strategies to help you stay on track with your savings goals.

Create a budget

With your savings goals outlined, it is time to create a budget that reflects your priorities. When creating a budget that works for you, you’ll need to be clear about your priorities. Be sure to factor your savings goals into your budget so you can dedicate a portion of your income towards your goals.

Set up spending alerts

Spending alerts are a useful tool to help you stay on track.

The idea is simple, you’ll set up a spending alert to let you know when you are close to spending more than you allotted for a particular category or time period. Once you see the alert, hopefully, you’ll be able to adjust your spending behaviors for the rest of the budgeting period.

Of course, sometimes life gets in the way. But a little reminder from a spending alert can help you stick to the plan when saving for goals that truly matter to you.

Earn more

If there simply isn’t enough space in your budget for everything that matters to you, then it might be time to consider a side hustle, find a better paying job or ask for a raise. Boosting your income can alleviate some of the pressures on your budget and allow you to save more each month.

Take advantage of Spruce!

The good news is that you don’t have to go it alone when sticking to your savings goals. Instead, you can enlist the help of a tool like Spruce built by H&R Block to streamline your savings strategy.

Spruce was built by H&R Block to help savers like you take control of your finances by achieving your savings goals.

So what is Spruce and how can Spruce jumpstart your savings?


Spruce is a mobile banking app that gives you access to Spending and Savings accounts and offers a debit card for you to manage your spending and savings goals effectively. Through the app, you can set up your savings goals and track your progress along the way.

Key features of Spruce

Some of the exciting features offered by Spruce are listed below. Visit for full details.

Savings Goals

Stay motivated to save more by creating dedicated savings goals in your Spruce account. Having dedicated goals can not only make saving money fun, they’ll help you stay focused on what you want to accomplish!

No Sign up Fees & No Monthly Fees

Beyond the helpful saving goals feature, Spruce built by H&R Block offers accounts with no monthly fees, no signup fees.

Automatic Cash Back Rewards

Spruce helps you get automatic cash back rewards to kickstart your savings and help you reach your goals.

Get Paid Up To Two Days Early with Spruce direct deposit

Getting your pay up to two days early can help you get a head start on your budget, saving for your goals and paying your bills.

Free Credit Score

Keep an eye on your credit with access to your credit score for free.

Courtesy Coverage (Overdraft Protection)

Overdraft fees can be expensive! Spruce has your back with courtesy overdraft protection up to $20with direct deposit.

Tax Refund Recommendation

Not sure what to do with your tax refund? You can open a Spruce account using your tax refund for a fresh start to funding your future.

My Life & Insights

Within the ‘My Life & Insights’ portion of the platform, you can easily monitor your finances and visualize your progress towards savings goals. You’ll find easy money movement tools to maintain momentum towards your financial goals.

Additional features

In your account, you’ll also have easy access to ATM and deposit locations, and helpful notifications to stay on top of your finances. Additionally, you’ll find support available via phone or chat when you need a helping hand.

If you need help tackling your financial goals, Spruce offers the tools you need to effectively manage your funds.

Spruce logo

How to open Spruce accounts

If you’ve decided that Spruce is a good fit for you, it is extremely easy to get started. You can apply for your accounts through or the Spruce app. Once there, you’ll need to provide some basic information and create a password to set up your accounts.

Remember, there is no fee to sign up for Spruce accounts! Why not get started today?

Spruce logo and app

Jumpstart your savings with Spruce!

Saving money can build a foundation for a bright financial future. When you have the right financial tools in place, you can streamline your path towards your savings goals.

Luckily, Spruce has the tools you need to streamline your savings strategies. Sign up for Spruce today to start making progress towards your savings goals.

Spruce is a financial technology platform built by H&R Block, which is not a bank. Banking products provided by MetaBank®, N.A., Member FDIC.


Fee disclaimer: Fees apply for cash withdrawals at an out-of-network ATM or over-the-counter, check orders, and express card delivery.  Other third-party fees may apply.  See for details.

Dosh disclaimer: Spruce Rewards are powered by Dosh.  Cash back offers and amounts may vary by user, merchant location and offer period.  Check the Spruce app for offer availability.  Cash back earned by qualifying purchases will be deposited in your Spruce Savings Account.  See Spruce Rewards powered by Dosh Terms for details.    

ACH disclaimer: Early access to funds depends on the timing of the payer’s submission of the payment.  These funds are generally made available to you the day the payment instruction is received, which may be up to 2 days earlier than the payer’s scheduled payment date.  To be eligible, you must receive $200 in direct deposits a month, not including tax refunds.   

Credit score disclaimer: Credit score is FICO® Score 8 based on Experian data. Your lender or insurer may use a different FICO Score than FICO Score 8, or another type of credit score altogether. FICO® is a trademark of Fair Isaac Corporation.   This is a separate service from your Spruce bank accounts, provided by MetaBank®, N.A. 

ODP disclaimer: Courtesy Coverage is only available for purchase transactions, ATM withdrawals, and over-the-counter withdrawals using your Spruce debit card. It is not an extension of credit; it is a courtesy exercised at our discretion.  To be eligible, you must receive $200 in qualifying deposits over the relevant 35-day time period and opt in.  Negative balances are limited to $20 and must be repaid within 30 days.  See Spending Account Agreement for details.   

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