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Inspired by this year’s America Saves Week, we are sharing some easy-to-use savings strategies, especially for a tight budget. We find the three largest undertakings for our members is an emergency fund, retirement account, and home-buying costs. No matter your budget, our strategies for saving will help you achieve your goals. 

Emergency Fund
• Establish a savings account specifically for your emergency fund. 
• Set up a monthly or bi-weekly automatic transfer through payroll deduction or a recurring transfer from your checking to savings account. 
• Start with a small amount and increase it when you’re comfortable. 

Retirement Account
• Start as early as you can, even if you’re only able to contribute a small amount. 
• Contribute monthly and increase your contribution as you’re able.
• Enroll and contribute to an employer 401(k) matching program. You’ll receive free money from your employer to match your contributions. 

Home-buying Costs
• Establish a savings account specifically for your home-buying costs.
• Decide which expenses you can pause for the next 6 – 8 months, such as subscriptions or memberships.
• If you’re able to save more, set up a recurring monthly transfer as well. Start small and increase it as you’re able. 

The trick to any savings plan is to establish a savings account specifically for your goal, automate your contributions, and be consistent. Always start small and build up as your budget allows. Getting started is the hardest part.