Perhaps you have a new job, are a newlywed, or have recently committed to a personal savings plan. Whatever your life stage, you’ve surely heard that regularly contributing to savings is an important financial strategy. You know to save for emergencies, retirement, college, and large purchases such as cars and homes, but where do you start? How much should you put away from each paycheck, and how do you prioritize your savings goals?
Every situation is different, but figuring out the details of how much to save on a regular basis isn’t difficult. Once you’ve established a savings strategy that will help meet your family’s financial goals, start saving immediately.