This is an article about saving. But we’re not going to talk about money right off the bat—let’s talk about you. Because your savings are all about having money for things you really want, like a house, a vacation—or simply more peace of mind. When your money and saving habits align to your unique goals, it makes the process of saving easier and more rewarding.
Not sure where to start? This guide makes saving a breeze
Saving is as much about your mindset as it is about your money. It’s possible to be motivated—even excited!—to save money when you know what you’re saving for. Like your required reading in high school, if you’re saving just because you’re told to, you probably aren’t going to be super enthusiastic about it. The “Saving smarter, not harder” guide is designed to help you shift your mindset and transform you into a supersaver.
In this guide, you’ll learn:
- How to pinpoint your priorities
- Why slow and steady wins the savings race
- Four simple strategies for saving
Score confidence and peace of mind by preparing for the unexpected
Saving for financial emergencies is one of the first and most effective steps to living a happier, more resilient life, which is why we call your emergency savings your “financial confidence account.” If you don’t have any emergency savings, start with a simple goal of saving $1,000 in an account that’s separate from your checking but easy to access—like a high-yield savings account. When you hit that first savings milestone, keep saving a portion of every paycheck until you have enough to cover 3 – 6 months of living expenses.
In this article, you can find pro tips for saving for the unexpected:
And this calculator can help you see how much you might need in your emergency fund:
Crunch the numbers: Emergency savings calculator
5 simple strategies to help you start saving
After getting the fundamentals down, you can make your money do more with less effort. Eventually, you’ll be able to save without a thought. This article covers tips like starting small, putting your finances on autopilot, and paying yourself first:
Get specific with your savings goals
What do you really want? Describe it to yourself in detail and get your senses involved—feel the sea breeze of a tropical vacation; smell fresh-cut grass outside your new house; hear your baby giggle in your arms. Envisioning what you want for your future will give you a more concrete idea of what you’re saving for, which helps you stay motivated.
This calculator can help you figure out some savings targets:
Crunch the numbers: Savings goal calculator
Hopefully you can see that saving’s not about deprivation—it’s about empowerment and freedom. Saving can help you accomplish your dreams and enhance your life, while giving you confidence along the way. Your savings plan can give you the momentum you need to achieve your goals—and once you start, it only gets easier.