Tips to Help You Save:

1. An emergency fund is a must. Chances are you’ve already been told that you need an emergency fund somewhere in the ballpark of three to six months of your income. Yikes! Overwhelming, right? We recommend starting with an emergency fund savings goal of just $500.


2. Establish your budget. The best way to jumpstart establishing a budget is to realize your spending habits. On the first day of a new month, get a receipt for everything you purchase throughout the month. Stack the receipts into categories like restaurants, groceries, and personal care. At the end of the month you will be able to clearly see where your money is going.


3. Save automatically. Setting up automatic savings is the easiest and most effective way to save, and it puts extra cash out of sight and out of mind. Automatic savings means you have a process in place to save at regular intervals, whether that’s monthly, weekly, or daily.


4. ‘Start Small. Think Big,’ with a short- term goal. The truth is, people save more successfully when they set a short-term goal.


5. Start saving for your retirement as early as possible.


6. Take full advantage of employer matches to your retirement plan. Often as an incentive, employers will match a certain amount of what you save in a retirement plan such as a 401(k). If you don't take full advantage of this match, you're leaving money on the table.


7. Save your windfalls and tax refunds. Every time you receive a windfall, such a work bonus, inheritance, contest winnings, or tax refund, put a portion into your savings account.


8. Make a savings plan. Those with a savings plan are twice as likely to save successfully.


9. Save your coins - literally. Putting aside just 50¢ a day over a year will get you almost halfway to an emergency fund.


10. Pay off credit cards in full each month. The miles and cash-back are only valuable if you're not falling into debt or paying interest.


11. Start with a goal of reducing your credit card debt by just $1,000. That $1,000 debt reduction will probably save you $150-200 a year in interest, and much more if you're paying penalty rates of 20-30 percent.


12. Use only the ATMs of your bank or credit union. Using the ATM of another financial institution once a week might seem like no big deal, but if it's costing you $3 for each withdrawal, that's more than $150 over the course of a year.

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