Article One penny at a time

Are you doing everything you can to save for your future?

Saving money can strengthen your financial security and help you plan for the future. Understanding your expenses, tracking spending with tools and automating transfers to your savings account are good ways to help you spend less and make saving money a habit.

Key Takeaways:

  • Savings can help you gain financial security, plan for future expenses and build a safety net.
  • Savings accounts offer stability and safety but can also grow your money as you earn interest.
  • Documenting expenses and controlling your spending can help you save more. Tools that track your accounts may help.
  • Get into the habit of saving a portion of your paycheck every month. Automatic transfers can help you stick with your plan.
  • Compound interest, or earning interest on interest, can help your money grow faster in a savings account.

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