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How can I get better at saving money?

Valorie Burton
Health Education
Rather than saying this year you want to save X dollars, aim for a percentage of money you would like to save and break it down in 90-day increments. That way, if you’re behind the first month, you have two more months to catch up. Ninety days gives you room to deal with setbacks or temptations that might throw you off course.

Also, setting up an automatic debit from a checking account increases the likelihood that you will reach your savings goal. Relying on yourself to write a check or transfer money is a sure way to decrease the chances that you will reach your financial goals.

Accountability is also important for saving money. For example, when you keep a debt to yourself and you don’t reach a goal of paying it off, you’re only disappointing yourself. So tell your friends and family what you’re going through. Another way accountability can work is that you may have friends or family who have similar savings goals. Instead of a book club, start a money saving club. Get together once a month to set savings goals and discuss milestones or setbacks. Having a group to hold yourself accountable can be very powerful.

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.