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Start Saving
Starting your savings
Building savings is not only beneficial for things you may want to do in the future, like buy a home or take a vacation, but also provides a layer of security in times of uncertainty.
A general guideline is to put at least 10% of your income towards your savings. Even if you’re currently paying off student loans or other debt, it’s essential to ensure you pay yourself too. Then, over time, as you make more, you can increase the amount you save as well.
A general guideline is to put at least 10% of your income towards your savings. Even if you’re currently paying off student loans or other debt, it’s essential to ensure you pay yourself too. Then, over time, as you make more, you can increase the amount you save as well.
Saving Tips
In addition to your budgeted savings, there are lots of small things you can do that could really add up and help you reach your goal sooner:
- Write a list and stick to it: Write a shopping list and stick to it to help prevent those impulse buys.
- Buy off-brand: Many pantry basics can be as good, or better, than the brand name ones that cost more.
- Have a night in: Instead of meeting friends for dinner, have a get-together at your place.
Tools that may help you with your saving goals
Cash Flow Calculator
To get a better idea of where you spend your money monthly or annually
Budget Spreadsheet
A household budget can help you manage your money and be a better saver