Savings Basics

Are you like most Americans—wanting to save money, but unsure how to squeeze any more out of your paycheck? There always are people at every income level who manage to save money, and those who spend more than they make. If you want to turn into a saver, here are some easy ways to get started.

There are two ways to “save” money:

• Set aside money for future goals; and
• Spend less.

These two ways of saving money go hand in hand. The less money you spend, the more you can save for the things you really want!

The place to start is with your budget or savings plan. You can use software like Quicken or Money to help you track expenses—or see some budget tips here.

Do not let the idea of a budget intimidate you! If you know where your money is going, you will be in a much better position to decide if your spending matches your values and goals. And you will be able to see where you can make some changes.

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