Growing our money for what we need, what we want, and for what we never see coming.
Saving is a key principle to lifelong financial wellness. Those that make a habit of saving regularly, even if it’s just small amounts, are well on their way to success. By saving regularly it allows you to plan for life events and to be ready for unplanned or emergency needs.
Actions You Can Take
- Start saving, form a savings habit, and pay yourself first
- Track your savings and investments and monitor what you own
- Build up emergency savings in an easily accessible account for unexpected events
- Save for retirement, children’s education and other major items
- Utilize automatic transfers from each paycheck to build and grow your savings
Hints and Tips
- An easy way to save is to pay yourself first. That means each pay period, before you are tempted to spend money, commit to putting some in a savings account.
- People who keep track of their savings often end up saving more because they have it on their minds.
- Before you purchase investments, be sure to build an emergency savings fund to cover living expenses for at least three months.