Consumer Financial Learn more at consumerfinance.gov. 1 of 2 Protection Bureau

SAVED: Five steps for making 

financial decisions

To find the best deal when you buy 

a financial product or service, follow 

the SAVED steps:

1.	 STOP for a mental break before making 

a decision.

2.	ASK questions about costs and risks.

3.	VERIFY and check what you’re told.

4.	ESTIMATE your costs.

5.	DECIDE whether the costs and value are 

worthwhile for you.

1.	 Stop

Stop and give yourself time to make a good 

decision. Don’t pressure yourself, and don’t let 

other people pressure you. 

Feel free to tell salespeople: “I don’t make financial 

decisions without first consulting my . I will 

contact you if I’m still interested.” Fill in the blank with 

whomever you choose—your spouse, adult child, 

investment professional, attorney, or accountant.

2.	 Ask

Ask questions about costs and risks. Keep asking 

more questions until you’re sure you understand 

what you’re paying—and what you’re getting.

§ How much does this cost now? How much will it 

cost over time? 

§ Are there fees, taxes, penalties, or other charges? 

When do those apply?

§ How do I avoid paying for extra services or addons if I don’t want them?

§ Can I cancel and get my money back? What’s the 

deadline for canceling?

§ How does the salesperson or company make 

money from me? Am I comfortable with that? 

§ What payment options do I have? Can I adjust my 

payment date?

§ What’s the worst-case scenario? How much 

money can I lose? How high can the cost of using 

the product go?
Consumer Financial Learn more at consumerfinance.gov. 2 of 2 Protection Bureau

3.	 Verify

Now that you’ve gotten answers to your 

questions, double-check the answers on your own. 

Comparison shop to make sure you’re getting a 

reasonable deal. Pay attention if something seems 

too good to be true. 

§ Bank accounts, credit cards, and debit cards: 

Visit the financial institution’s website to 

check requirements, interest rates, payments, 

transactions, and fees.

§ Loans, investments, and insurance: Get 

everything in writing and verify that what you 

were told matches what you read. Also, make 

sure the people and companies you’re working 

with are properly registered in your state and 

with federal authorities. Check with your state’s 

banking regulator, insurance commissioner, and 

securities regulator. For investments, also check 

with FINRA or the Securities and Exchange 

Commission. If you need help, consider talking 

to an attorney. 

§ Other products and services: Check with your 

state attorney general’s office. For a list by state, 

visit naag.org. 

4.	 Estimate

Estimate your costs. Online calculators and tools 

can help you compare just about any financial 

product or service. Start with fees and charges 

you pay up front. For longer-term decisions, add in 

ongoing fees, payments, and charges. 

Compare the total cost of the financial product 

or service to the value you’re getting. When you 

compare costs, risks, and value, is the financial 

product or service still worth it to you?

5.	 Decide

After you’ve finished your homework, make 

your decision.