Saving is easier when you have a plan—follow these steps to create one.
Note what for, how much and how long you have to save. Some banks offer accounts that can earmark funds for specific goals.
Review your monthly bank and card statements and categorize your expenses.
Include lines for monthly contributions toward your savings goals.
Saving & Debts
For example, if you have high-interest debt, you should plan to keep making those payments while you save. Over time, you can increase your contributions to savings.
Make room for more saving in your budget by finding places to trim back spending.
Set up automatic transfers to your savings account so you don’t forget to save each month.
Check your progress toward your goals each month and consider increasing your savings contributions.
Tools that help make saving simple
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8 simple ways to save money
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