• Email:support@firstchoicefcuinfo.com
  • Rates
  • Calculators
  • Get Started!
  • support@firstchoicefcuinfo.com
  • Email:support@firstchoicefcuinfo.com
  • Visit First Choice FCU
  • Rates
  • Calculators
  • Get Started!
  • support@firstchoicefcuinfo.com
  • Visit First Choice FCU
  • News
  • Q & A
  • Blog
  • Tutorials
  • About Us
  • Rates
  • Calculators
  • Get Started!

Your FIRST CHOICE for growing your money sense!

Facebook
YouTube
  • News
  • Q & A
  • Blog
  • Tutorials
  • About

What’s the difference between short-term and long-term savings?

November 21, 2021 by First Choice Support

Short-term and long-term savings are two different methods of saving for two different kinds of goals.

Short-term savings usually has a 3 to 6 month necessity. This is usually for a planned medical issue, vehicle need, vacation, or other larger expense.

Long-term savings can be thought of as retirement-level. You want to save and save and save for years, and have enough saved for your cash needs later in life.

Having short-term and long-term savings needs is not facilitated enough by having one savings account for everything. We recommend having a few accounts, each for something different for your needs. In this way, you never cross-spend or worry about overspending while saving.

Related Links

What is the easiest way to track my savings and budgeting goals?
Thursday March 16, 2023
How do you determine your net worth?
Tuesday March 14, 2023
Why is it important to use short-terms savings, long-term savings and daily spending accounts?
Tuesday November 23, 2021
Why is an emergency fund important for your overall money health?
Monday November 15, 2021
Find your answer...

If you didn't find what you were looking for, don't worry. Enter your search needs, and we'll try to get you the answer you are looking for!

Newsletter Signup

If you want easy-to-use, actionable money tips and strategies, you need this free newsletter. Signup below with your email, and a simple click of the button.


Get your FREE information





Find out what we offer for our newsletter and email info series

Who we are…

Originally chartered in 1952, First Choice has called Lawrence County its home for over 65 years! We are your neighbors, co-workers, volunteers, students and congregation. This website was created to give back to the community, by showcasing free information for all of your needs.

Navigation

Current Rates (and more)
Tools & Calculators
Articles For Better Money Sense
Your Questions and Answers
All About Us
Need to Contact Us?
Sitemap

Why did we create this website?

For you! The family at First Choice wanted to build a central location that our community could get answers to their financial questions and needs. We wanted to create guides, articles, downloads, checklists, tutorials and more. By giving you the best strategies and tips to get more for your money, we hope to make our community much, much better.

First Choice Information Newsletter


Receive your FREE newsletter!

Recent articles

  • Spring 2023 Newsletter – First Choice Federal Credit Union of New Castle PA April 1, 2023
  • What is the easiest way to track my savings and budgeting goals? March 16, 2023
  • How do you determine your net worth? March 14, 2023
  • Will checking my credit score hurt my credit? March 13, 2023
  • How do I know if I’m financially ready to buy a new car? March 11, 2023

Contact First Choice


  • Main branch - 2209 West State Street

    (724)652-8393

  • Neshannock Office - 2810 Wilmington Road

    (724) 652-8070

  • New Castle Office - 1144 Butler Avenue

    (724) 656-3595
Copyright © First Choice Federal Credit Union. All rights reserved.
  • USA Patriot Act
  • Terms Of Use
  • Copyright Notice
  • Privacy Policy

Our Credit Union is committed to providing a website that is accessible to the widest possible audience in accordance with ADA guidelines. We are working to increase the accessibility and usability of our website for all people. If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 724-652-8393 for assistance. Products and services available on this website are available at our office located at 2209 W State Street – New Castle, PA 16101.