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Three Steps to Build Up Your Savings



Savings is not something to lose sleep over, but a lot of us do. In fact, according to a Wells Fargo Financial Health survey, a third of Americans report losing sleep worrying about money. So, how can we save more? Here are three steps.

First, set a goal, such as building up emergency savings, having enough money for a new car, or making a down payment on a new home. Make the goal tangible with an actual dollar amount attached to it.

Second, start now, and make savings automatic. It's easy to do-- set up automated transfers right this minute online or on your mobile device. Even if it's just a little bit every time, those amounts add up.

Third, the most effective way to increase our savings is to manage our spending. We do this by knowing exactly where our money goes each month, looking for expenses we can trim, and spending smarter each day.

If we follow these steps and start now, we'll be well on our way towards building up our savings and maybe a better night's sleep, too.