Saving is a key principle. People who make a habit of saving regularly, even saving small amounts, are well on their way to success. It’s important to open a bank or credit union account so it will be simple and easy for you to save regularly.  Then, use the savings to plan for life events and to be ready for unplanned or emergency needs.     

An easy way to save is to pay yourself first. That means each pay period, before you are tempted to spend money, commit to putting some in a savings account. See if you can arrange with your bank to automatically transfer a certain amount from your paycheck or your checking account to savings every month. 

People who keep track of their savings often end up saving more, because they have it on their minds. 

If you are making investments, it’s good to consult with a qualified professional about your plans. Before you purchase investments, be sure to build an emergency savings fund to cover your needs for at least three months. Keep the savings in an insured bank or credit union account that you can access if you need it.

Many professionals call themselves “financial planners.” Before hiring one, ask for a description of the services offered. A good place to check the credentials of an investment advisor is the state’s consumer protection office, the state’s Attorney General’s office, or the issuing agency for any professional licenses or certifications. 

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