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headline-display--sm heading--text-black heading--align-left no-top "> Everyday money matters </h3> </div> </div> <div class="navigation-items__menu--row-column"> <div class="aem-wrap--cta-group section"> <ul class="cta-group cta-group--left "> <li class="cta-group__wrapper "> <a data-bactmln="cta_group-_-CTA-_-credit_/content/bmh/en/credit" href="https://bettermoneyhabits.bankofamerica.com/en/credit" class="js-cta-link cta-group__cta t-track-cta cta--link " target="_self"> <span class="icon-c" data-action="icon"> <span class="icon icon--credit icon--primary-red icon--size3 icon--align-left" aria-hidden="true"> </span> </span> <span class="cta-group__cta-content-wrapper "> <span class="cta__text">Credit</span> </span> </a> <div class="cta__note"><p>How to manage credit and build a strong credit history</p> </div> </li> <li class="cta-group__wrapper "> <a data-bactmln="cta_group-_-CTA-_-saving---budgeting_/content/bmh/en/saving-budgeting" 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aria-hidden="true"> </span> </span> <span class="cta-group__cta-content-wrapper "> <span class="cta__text">Taxes & Income</span> </span> </a> <div class="cta__note"><p>Guidance on tax planning and making the most of your pay and benefits</p> </div> </li> </ul> </div> </div> </div> <div class="navigation-items__menu--row"> <div class="navigation-items__menu--title"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="financial-milestones" aria-hidden="true" tabindex="-1"></div> <h3 class="heading-latest__text headline-display--sm heading--text-black heading--align-left no-top "> Financial milestones </h3> </div> </div> <div class="navigation-items__menu--row-column"> <div class="aem-wrap--cta-group section"> <ul class="cta-group cta-group--left "> <li class="cta-group__wrapper "> <a data-bactmln="cta_group-_-CTA-_-auto_/content/bmh/en/auto" href="https://bettermoneyhabits.bankofamerica.com/en/auto" 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future</h1> <div class="item-subhead js-item-subhead" data-action="itemSubhead"> <p class="item-subhead__dek-copy">The best way to save money is to have a plan. These steps can help you create one.</p> <div> <p class="item-subhead__consumption"> <i class="icon icon--Article"></i> <span>Read, </span> <span class="item-subhead__consumption-text js-consumption-text"> 11 minutes </span> </p> </div> </div> </div> </div> <div class="row row--text"> <div class="column column--span-1-1 set-top"><div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Sometimes the hardest thing about saving is just getting started. This guide on how to budget and save money can help you develop a simple and realistic strategy that meets your needs.</p> </div> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-do-i-start-saving-money" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How do I start saving money? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Begin with expense tracking.</strong> The first step to start saving money is figuring out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip, as well as regular monthly bills. Record your expenses however is easiest for you—<a href="https://bettermoneyhabits.bankofamerica.com/content/dam/community/pdfs/steps-to-start-a-small-business/bmh-erc-smallbusinessworkshop-personalbudgetworksheet-ada-approved.pdf"><span class="inline-link--black">a simple spreadsheet, free online spending tracker or app, or even pencil and paper</span></a>. Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Use your credit card and bank statements to make sure you’ve included everything.</p> </div> </div> </div> <div class="aem-wrap--teaser-latest section"> <div class="teaser-latest teaser-latest--red teaser-latest-background--white teaser-latest--left" data-cmp-name="teaser-latest" data-action="teaserLatest"> <a class="teaser-latest__link js-teaser-latest-track t-track-body-copy-link" href="https://www.bankofamerica.com/online-banking/mobile-and-online-banking-features/spending-budgeting/" target="_self" tabindex="0"> <div class="teaser-latest__wrapper"> <img class="teaser-latest__image" src="/content/dam/bmh/product-cta/prepare-piggybank-teaser-illo.svg" role="presentation" aria-hidden="true"/> <div class="teaser-latest__content"> <span class="teaser-latest__eyebrow">MORE FROM BANK OF AMERICA</span> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><span class="copy--black">Bank of America clients can access the Spending & Budgeting tool in Online and Mobile Banking to automatically categorize transactions for easier budgeting.</span></p> </div> </div> </div> </div> </a> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-do-i-fit-saving-into-my-budget" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How do I fit saving into my budget? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Make savings a monthly expense.</strong> Now that you know what you spend in a month, you can begin to <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/creating-a-budget"><span class="inline-link--black">create a budget</span></a>. Your budget should show what your expenses are relative to your income, so that you can plan your spending and limit overspending. Be sure to factor in expenses that occur regularly but not every month, such as car maintenance. Include a savings category in your budget and aim to save an amount that feels comfortable to you. Plan on eventually increasing your savings amount to up to 20 percent of your income.</p> </div> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-do-i-save-money-on-a-tight-budget" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How do I save money on a tight budget? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Economize on wants.</strong> If you can’t save as much as you’d like, it might be time to cut back on expenses. You can get ideas on where to cut by seeing <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/average-household-monthly-expenses"><span class="inline-link--black">how your spending compares with everyone else’s</span></a>.</p> <p>First identify nonessentials, such as entertainment and dining out, that you can spend less on. Then look for ways to reduce your fixed monthly expenses, such as your car insurance or cell phone plan. Other <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/how-to-save-money-tips"><span class="inline-link--black">ways to save money every day</span></a> include:</p> </div> </div> </div> <div class="aem-wrap--article-list section"> <div class="article-list__wrapper js-article-list__wrapper article-list__wrapper--in-article " data-set-point="include-saving-in-your-budget"> <h3 class="article-list__heading"> Related content </h3> <ul class="article-list js-article-list" data-action="articleList"> <li class="article-list__item" data-content-type="Article"> <img src="/content/dam/bmh/article-list/your-guide-to-creating-a-budget-plan-268x135.jpg" class="article-list__item__img"/> <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/creating-a-budget" data-path="/content/bmh/en/saving-budgeting/creating-a-budget" hreflang="en-US" class="article-list__item__link js-anchor-wrapper t-track-content-tile" data-bactmln="ItemTile_your_guide_to_creating_a_budget_plan"> <div class="article-list__item__content"> <span class="article-list__item__topic">Saving & Budgeting</span> <div class="article-list__item__title">Your guide to creating a budget plan</div> <p class="article-list__item__cta "> <i class="icon icon--Article"></i><span class="cta-text">Read more</span><span>, 12 minutes</span> </p> </div> </a> </li> </ul> </div> </div> <div class="unity-layout layout section"> <uc-layout version="v1_3.10.1-ENT-6"> <div class="uc uc-layout uc-layout--d-width-default uc-layout--m-width-default uc-layout--top-pad-0 uc-layout--bottom-pad-0" style="max-width: 100%;"> <div class="uc-grid uc-grid--cols-2--medium uc-layout__grid uc-layout__grid--col-2_50-50 uc-layout__grid--no-separator uc-layout__grid--vertical-separator-black uc-layout__grid--content-align-default uc-layout__grid--content-vertical-align-default "> <div class="uc-layout__grid-cell "> <div class="aem-wrap--heading-latest"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="search-for-free-activities" aria-hidden="true" tabindex="-1"></div> <div class="heading-latest__icon-wrapper"> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left no-top "> <span class="icon-c" data-action="icon"> <span class="icon icon--arts-culture icon--royal-blue icon--size3 icon--align-left" aria-hidden="true"> </span> </span> Search for free activities </h3> </div> </div> </div> <div class="aem-wrap--text-latest"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Use resources, such as community event listings, to find free or low-cost entertainment.</p> </div> </div> </div> <div class="aem-wrap--heading-latest"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="review-recurring-charges" aria-hidden="true" tabindex="-1"></div> <div class="heading-latest__icon-wrapper"> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left no-top "> <span class="icon-c" data-action="icon"> <span class="icon icon--credit icon--royal-blue icon--size3 icon--align-left" aria-hidden="true"> </span> </span> Review recurring charges </h3> </div> </div> </div> <div class="aem-wrap--text-latest"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Cancel subscriptions and memberships you don’t use—especially if they renew automatically.</p> </div> </div> </div> <div class="aem-wrap--heading-latest"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="cook-your-meals" aria-hidden="true" tabindex="-1"></div> <div class="heading-latest__icon-wrapper"> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left no-top "> <span class="icon-c" data-action="icon"> <span class="icon icon--restaurant-dining icon--royal-blue icon--size3 icon--align-left" aria-hidden="true"> </span> </span> Cook your meals </h3> </div> </div> </div> <div class="aem-wrap--text-latest"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Plan to eat most of your meals at home, and research local restaurant deals for nights that you want to treat yourself.</p> </div> </div> </div> <div class="aem-wrap--heading-latest"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="wait-before-you-buy" aria-hidden="true" tabindex="-1"></div> <div class="heading-latest__icon-wrapper"> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left no-top "> <span class="icon-c" data-action="icon"> <span class="icon icon--shopping-and-entertainment icon--royal-blue icon--size3 icon--align-left" aria-hidden="true"> </span> </span> Wait before you buy </h3> </div> </div> </div> <div class="aem-wrap--text-latest"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>When tempted by a nonessential purchase, wait a few days. You may realize the item was something you wanted rather than needed—and you can develop a plan to save for it.</p> </div> </div> </div> </div> <div class="uc-layout__grid-cell "> <div class="aem-wrap--media"> <script src="//cdnapisec.kaltura.com/p/4699762/embedPlaykitJs/uiconf_id/51133253/langs/en,es"></script> <uc-media version="v1_3.10.1-ENT-6" class="uc-component uc-media" data-action="unityMedia" buttonAnimation="false" buttonPosition="center" disclaimerText="<p><em>The material provided on this website is for informational use only and is not intended for financial or investment advice. Bank of America Corporation and/or its affiliates assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment management. ©2025 Bank of America Corporation.</em></p> " entryId="1_mhkpmvhi" infiniteCarousel="false" isAudio="false" isAuthorMode="false" isPlaylist="false" isVertical="true" partnerId="4699762" playerId="51133253" playlistAutoContinue="false" playlistFilter="false" playlistTheme="black" showDisclaimer="true" theme="red" transcriptText='[{"id":"1_mhkpmvhi","transcript":"%3Cp%3E%5BMusic%20in%20background%20throughout%5D%3C%2Fp%3E%0D%0A%3Cp%3E%5BA%20Bank%20of%20America%20employee%2C%20Dominique%2C%20is%20speaking%20directly%20to%20camera%5D%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EOn%20screen%20copy%3A%3C%2Fstrong%3E%3Cbr%20%2F%3E%0D%0ADominique%3Csup%3E%3C%2Fsup%3E%3Cbr%20%2F%3E%0D%0ABetter%20Money%20Habits%20Champion%3C%2Fp%3E%0D%0A%3Cp%3EDominique%3A%3Cbr%20%2F%3E%0D%0AFiguring%20out%20ways%20to%20cut%20your%20spending%20can%20be%20really%20helpful%20to%20help%20you%20achieve%20your%20financial%20goals.%3C%2Fp%3E%0D%0A%3Cp%3EPart%20of%20prioritizing%20your%2C%20your%20spending%2C%20right%3F%20Often%2C%20you%27ll%20hear%20about%20wants%20versus%20needs.%20And%20that%27s%20fairly%20common%2C%20right%3F%20But%20we%20don%27t%20often%20talk%20about%20the%20gray%20area%20where%20those%20lines%20blur%20a%20little%20bit.%3C%2Fp%3E%0D%0A%3Cp%3E%5BNeed%20to%20Want%20graphic%20appears%20with%20a%20cellphone%20icon%20that%20slides%20right%5D%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EOn%20screen%20copy%3A%3C%2Fstrong%3E%3Cbr%20%2F%3E%0D%0ANeed%3Cbr%20%2F%3E%0D%0AWant%3C%2Fp%3E%0D%0A%3Cp%3EDominique%3A%3Cbr%20%2F%3E%0D%0AFor%20example%2C%20you%20take%20a%20cell%20phone%20where%20in%20this%20day%20and%20age%20it%20really%20is%20a%20need%2C%20but%20the%20latest%20cell%20phone%20with%20the%20latest%20features%20is%20probably%20more%20of%20a%20want.%20Right%3F%20There%20are%20more%20cost-effective%20options%20that%20are%20out%20there.%3C%2Fp%3E%0D%0A%3Cp%3E%5BCellphone%20icon%20changes%20to%20car%20icon%20and%20slides%20left%5D%3C%2Fp%3E%0D%0A%3Cp%3EDominique%3A%3Cbr%20%2F%3E%0D%0AA%20car%20is%20another%20example.%20Yeah%2C%20there%20are%20luxury%20vehicles%20with%20a%20ton%20of%20amazing%20features%2C%20but%20there%20are%20probably%20other%2C%20more%20cost-effective%20options.%20Or%20you%20always%20have%20the%20option%20depending%20on%20where%20you%20live%20for%20public%20transportation.%3C%2Fp%3E%0D%0A%3Cp%3EUnder%20normal%20circumstances%2C%20we%20might%20talk%20about%20cutting%20back%2C%20such%20as%20the%20cell%20phone%20or%20even%20like%20streaming%20services.%20Right%3F%20You%20may%20not%20need%20every%20streaming%20provider%2C%20but%20that%27s%20under%20normal%20circumstances.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EOn%20screen%20copy%3A%3C%2Fstrong%3E%3Cbr%20%2F%3E%0D%0ACut%20spending%20on%20wants%20when%20money%E2%80%99s%20tight%3C%2Fp%3E%0D%0A%3Cp%3EDominique%3A%3Cbr%20%2F%3E%0D%0AIn%20an%20emergency%20situation%2C%20you%20may%20really%2C%20really%20have%20to%20dig%20deep%20and%20start%20cutting%20some%20of%20those%20things%20that%20are%20wants%20that%20even%20seem%20close%20to%20needs%2C%20and%20you%20would%20just%20focus%20on%20the%20needs%20and%20the%20things%20that%20are%20necessary%20to%20get%20you%20by%20day%20to%20day.%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EOn%20screen%20copy%3A%3C%2Fstrong%3E%3Cbr%20%2F%3E%0D%0AAsk%20Better%20Money%20Habits%3Cbr%20%2F%3E%0D%0AHow%20do%20I%20decide%20what%20spending%20to%20cut%3F%3Cbr%20%2F%3E%0D%0ABank%20of%20America%3Csup%3E%C2%AE%3C%2Fsup%3E%20logo%3Cbr%20%2F%3E%0D%0ABetter%20Money%20Habits%3Csup%3E%C2%AE%3C%2Fsup%3E%3C%2Fp%3E%0D%0A%3Cp%3E%3Cstrong%3EOn%20screen%20disclosures%3A%3C%2Fstrong%3E%3Cbr%20%2F%3E%0D%0AThe%20material%20provided%20in%20this%20video%20is%20for%20informational%20use%20only%20and%20is%20not%20intended%20for%20financial%20or%20investment%20advice.%3C%2Fp%3E%0D%0A%3Cp%3EBank%20of%20America%20Corporation%20and%2For%20its%20affiliates%20assume%20no%20liability%20for%20any%20loss%20or%20damages%20resulting%20from%20one%E2%80%99s%20reliance%20on%20the%20material%20provided.%20Please%20also%20note%20that%20such%20material%20is%20not%20updated%20regularly%2C%20therefore%20some%20of%20the%20information%20may%20not%20be%20current.%3C%2Fp%3E%0D%0A%3Cp%3EConsult%20with%20your%20own%20financial%20professional%20when%20making%20decisions%20regarding%20your%20financial%20or%20investment%20management.%3C%2Fp%3E%0D%0A%3Cp%3EBank%20of%20America%2C%20N.A.%20Member%20FDIC.%20Equal%20Credit%20Opportunity%20Lender.%20%C2%A9%202024%20Bank%20of%20America%20Corporation.%20All%20rights%20reserved.%3C%2Fp%3E%0D%0A%3Cp%3E%5BEnd%20of%20transcript%5D%3C%2Fp%3E%0D%0A"}]' closeTranscriptText="Close Transcript" closeDisclaimerText="Close Disclaimer" disclaimerTitle="Disclaimer" transcriptTitle="Transcript" carouselNextArrowText="Go to Next Item" carouselPreviousArrowText="Return to Previous Item" carouselDotsLabel="of" playlistItemLabel="Item {0} of {1} Play {2} video" validCloseCaptions="true" expandVideoWhenPlaying="false" posterImagePosition="top" data-video-id="1_mhkpmvhi_"> <div id="en-8-simple-ways-to-save-money" class="uc-media__player"> </div> <div class="uc-media-transcript" aria-hidden="true" aria-expanded="false"> <div class="uc-media-transcript__header"> <button aria-label="Close Transcript" class="uc-media-transcript__close uc-media-icon-close" tabindex="-1" title="Close Transcript"></button> </div> <div class="uc-media-transcript__container" tabindex="-1"> <h3 class="uc-media-transcript__title">Transcript</h3> <div class="uc-media-transcript__text"></div> </div> </div> <script type="application/ld+json">{"@type":"VideoObject","name":"Dominique \"How do I decide what spending to cut?\"","description":"No description","thumbnailUrl":"https://cfvod.kaltura.com/p/4699762/sp/469976200/thumbnail/entry_id/1_mhkpmvhi/version/100021","uploadDate":"2024-12-18T10:08:45-05:00","contentUrl":"https://cdnapisec.kaltura.com/p/4699762/sp/469976200/playManifest/entryId/1_mhkpmvhi/format/url/protocol/https","embedUrl":"https://cdnapisec.kaltura.com/p/4699762/sp/469976200/playManifest/entryId/1_mhkpmvhi/format/url/protocol/https","width":1080,"height":1920,"duration":"PT1M18S","transcript":"[Music in background throughout] [A Bank of America employee, Dominique, is speaking directly to camera] On screen copy: Dominique Better Money Habits Champion Dominique: Figuring out ways to cut your spending can be really helpful to help you achieve your financial goals. Part of prioritizing your, your spending, right? Often, you'll hear about wants versus needs. And that's fairly common, right? But we don't often talk about the gray area where those lines blur a little bit. [Need to Want graphic appears with a cellphone icon that slides right] On screen copy: Need Want Dominique: For example, you take a cell phone where in this day and age it really is a need, but the latest cell phone with the latest features is probably more of a want. Right? There are more cost-effective options that are out there. [Cellphone icon changes to car icon and slides left] Dominique: A car is another example. Yeah, there are luxury vehicles with a ton of amazing features, but there are probably other, more cost-effective options. Or you always have the option depending on where you live for public transportation. Under normal circumstances, we might talk about cutting back, such as the cell phone or even like streaming services. Right? You may not need every streaming provider, but that's under normal circumstances. On screen copy: Cut spending on wants when money’s tight Dominique: In an emergency situation, you may really, really have to dig deep and start cutting some of those things that are wants that even seem close to needs, and you would just focus on the needs and the things that are necessary to get you by day to day. On screen copy: Ask Better Money Habits How do I decide what spending to cut? Bank of America® logo Better Money Habits® On screen disclosures: The material provided in this video is for informational use only and is not intended for financial or investment advice. Bank of America Corporation and/or its affiliates assume no liability for any loss or damages resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly, therefore some of the information may not be current. Consult with your own financial professional when making decisions regarding your financial or investment management. Bank of America, N.A. Member FDIC. Equal Credit Opportunity Lender. © 2024 Bank of America Corporation. All rights reserved. [End of transcript]","@context":"http://schema.org"}</script> </uc-media> </div> </div> </div> </div> </uc-layout></div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="what-kinds-of-savings-goals-should-i-set" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> What kinds of savings goals should I set? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Use goals to make saving meaningful.</strong> Working toward <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/setting-and-achieving-financial-goals"><span class="inline-link--black">specific goals</span></a> can be one of the most effective ways to save money because it puts a reward or accomplishment in sight. Start by thinking about what you might want to save for—both in the short term (one to three years) and the long term (four or more years). Then estimate how much money you’ll need and how long it might take you to save it.</p> </div> </div> </div> <div class="aem-wrap--columncontrol-latest section"> <div class="columncontrol-latest columncontrol-latest--text align--top columncontrol-latest--margin-none columncontrol-latest--margin-none has-bg bg--cool-gray-05 " style="max-width: inherit"> <div class="columncontrol-latest__wrapper"> <div class="column column--full"> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p style="margin-left: 20.0px;"><strong>Common short-term goals:</strong> Emergency fund (three to nine months of living expenses), vacation or down payment for a car<br/> </p> <p style="margin-left: 20.0px;"><strong>Common long-term goals:</strong> Down payment on a home or a remodeling project, your child’s education or retirement</p> </div> </div> </div> </div> </div> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><br/> An if/then plan is an exercise that can help you reach your savings goals. It helps you anticipate potential obstacles and then plan specific actions to address them. <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/if-then-planning"><span class="inline-link--black">Here’s how put one together</span>.</a></p> </div> </div> </div> <div class="aem-wrap--tip-tile section"> <div class="tip-tile js-tip-tile text--template-theme-color-cx background--template-theme-color-cx--light" data-cmp-name="tip-tile" data-action="tipTile"> <div class="tip-tile__div-wrapper tip-tile__div-wrapper--left"> <div class="tip-tile__text-wrapper "> <div class="tip-tile__image-wrapper "> <img class="tip-tile__image tip-tile__image--m" src="/content/dam/bmh/cx/icon-tip-lightbulb.svg" alt="" aria-hidden="true"/> </div> <div class="tip-tile__header tip-tile__header--no-deck"> <h3 class="tip-tile__header--darkBlue tip-tile__header--l"> Quick tip </h3> </div> </div> <div class="tip-tile__overview tip-tile__overview--darkBlue tip-tile__overview--xs tip-tile__div-wrapper--left "> <p>Set a small, achievable short-term goal for something that’s fun and goes beyond your monthly budget, such as a new smartphone or holiday gifts. Reaching smaller goals—and enjoying the reward you’ve saved for—can give you a psychological boost, making the payoff of saving more immediate and reinforcing the habit.</p> </div> </div> </div> </div> <div class="aem-wrap--article-list section"> <div class="article-list__wrapper js-article-list__wrapper article-list__wrapper--in-article " data-set-point="set-savings-goals"> <ul class="article-list js-article-list" data-action="articleList"> <li class="article-list__item" data-content-type="Article"> <img src="/content/dam/bmh/article-list/how-to-set-achievable-financial-goals-relatedcontent-268x135.jpg" class="article-list__item__img"/> <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/setting-and-achieving-financial-goals" data-path="/content/bmh/en/saving-budgeting/setting-and-achieving-financial-goals" hreflang="en-US" class="article-list__item__link js-anchor-wrapper t-track-content-tile" data-bactmln="ItemTile_how_to_set_achievable_financial_goals"> <div class="article-list__item__content"> <span class="article-list__item__topic">Saving & Budgeting</span> <div class="article-list__item__title">How to set achievable financial goals</div> <p class="article-list__item__cta "> <i class="icon icon--Article"></i><span class="cta-text">Read more</span><span>, 3 minutes</span> </p> </div> </a> </li> </ul> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-do-i-decide-which-savings-goals-are-most-important" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How do I decide which savings goals are most important? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Learn </strong><a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/learning-to-save"><strong><span class="inline-link--black">how to prioritize your savings goals</span></strong></a> to gain a clear idea of how to allocate your savings. After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings. For example, a common budgeting question is whether to pay down debt, save or invest. <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/pay-down-debt-save-or-invest"><span class="inline-link--black">This interactive tool can help you decide</span></a>.</p> <p>Or let’s say you know you’re going to need to replace your car in the near future. You could start putting away money for a new vehicle now. Just be sure to incorporate long-term goals, too. It’s important that planning for retirement doesn’t take a back seat to shorter-term needs.</p> </div> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-do-i-grow-the-money-im-saving" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How do I grow the money I'm saving? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><strong>Put your savings to work.</strong> There are many savings and investment accounts suitable for short- and long-term goals. And you don’t have to pick just one. Look carefully at all the options and consider balance minimums, fees, interest rates, risk and how soon you’ll need the money. This information will help you choose the mix that works best for your goals.</p> </div> </div> </div> <div class="aem-wrap--article-list section"> <div class="article-list__wrapper js-article-list__wrapper article-list__wrapper--in-article " data-set-point="determine-your-financial-priorities"> <ul class="article-list js-article-list" data-action="articleList"> <li class="article-list__item" data-content-type="Infographic"> <img src="/content/dam/bmh/article-list/how-to-prioritize-your-savings-goals-relatedcontent-268x135.jpg" class="article-list__item__img"/> <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/learning-to-save" data-path="/content/bmh/en/saving-budgeting/learning-to-save" hreflang="en-US" class="article-list__item__link js-anchor-wrapper t-track-content-tile" data-bactmln="ItemTile_how_to_prioritize_your_savings_goals"> <div class="article-list__item__content"> <span class="article-list__item__topic">Saving & Budgeting</span> <div class="article-list__item__title">How to prioritize your savings goals</div> <p class="article-list__item__cta "> <i class="icon icon--Infographic"></i><span class="cta-text">View infographic</span><span>, 2 minutes</span> </p> </div> </a> </li> </ul> </div> </div> <div class="aem-wrap--columncontrol-latest section"> <div class="columncontrol-latest columncontrol-latest--full-width align--top mobile-align--default columncontrol-latest--margin-none columncontrol-latest--margin-none border--none " style="max-width: inherit"> <div class="columncontrol-latest__wrapper"> <div class="column column--50"> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="short-term-goals" aria-hidden="true" tabindex="-1"></div> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left "> Short-term goals </h3> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>If you’ll need the money soon or need to be able to access it quickly, <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/money-market-vs-cd-vs-savings"><span class="inline-link--black">consider using these FDIC-insured deposit accounts</span></a>:</p> </div> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <table width="100%" cellspacing="0" cellpadding="0" border="0"> <tbody><tr><td width="0"><span aria-hidden="true"> </span></td> <td width="40" valign="top"><img src="/content/dam/bmh/product-cta/simplewaystosavemoney-piggybankicon-mob.png" class="image__img" alt="" role="presentation"/></td> <td valign="top"><p style="padding-left: 25.0px;margin-top: 10.0px;">A savings account</p> </td> </tr></tbody></table> </div> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <table width="100%" cellspacing="0" cellpadding="0" border="0"> <tbody><tr><td width="0"><span aria-hidden="true"> </span></td> <td width="40" valign="top"><img src="/content/dam/bmh/product-cta/simplewaystosavemoney-cdsicon-mob.png" class="image__img" alt="" role="presentation"/></td> <td valign="top"><p style="padding-left: 25.0px;margin-top: 10.0px;"><a href="https://bettermoneyhabits.bankofamerica.com/en/personal-banking/what-is-a-cd-investment"><span class="inline-link--black">A certificate of deposit (CD)</span></a>, which locks in your money for a fixed period of time at a rate that is typically higher than that of a savings account</p> </td> </tr></tbody></table> </div> </div> </div> </div> <div class="column column--50"> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="long-term-goals" aria-hidden="true" tabindex="-1"></div> <h3 class="heading-latest__text headline--sm heading--text-royal-blue heading--align-left "> Long-term goals </h3> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>If you’re saving for retirement or your child’s education, consider:</p> </div> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <table width="100%" cellspacing="0" cellpadding="0" border="0"> <tbody><tr><td width="0" valign="top"><span aria-hidden="true"> </span></td> <td width="40" valign="top"><img src="/content/dam/bmh/product-cta/simplewaystosavemoney-coinicon-mob.png" class="image__img" alt="" role="presentation"/></td> <td valign="top"><p style="margin-top: 3.0px;padding-left: 25.0px;">FDIC-insured individual retirement accounts (IRAs) or 529 plans, which are tax-efficient savings accounts</p> </td> </tr></tbody></table> </div> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <table width="100%" cellspacing="0" cellpadding="0" border="0"> <tbody><tr><td width="0" valign="top"><span aria-hidden="true"> </span></td> <td width="40" valign="top"><img src="/content/dam/bmh/product-cta/simplewaystosavemoney-fundsicon-mob.png" class="image__img" alt="" role="presentation"/></td> <td valign="top"><p style="margin-top: 3.0px;padding-left: 25.0px;">Securities, such as stocks or mutual funds. These investment products are available through investment accounts with a broker-dealer<sup>1</sup></p> </td> </tr></tbody></table> </div> </div> </div> </div> </div> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="how-can-benefits-at-work-help-me-save" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> How can benefits at work help me save? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Many employers offer a number of <a href="https://bettermoneyhabits.bankofamerica.com/en/taxes-income/new-job-checklist"><span class="inline-link--black">benefits that can save you money and help you save</span></a>. Chief among them are 401(k) plans, which allow you to make automatic contributions from each paycheck to a retirement plan. The contributions come out of your paycheck before taxes are withheld, and any investment earnings are not taxed until you withdraw them. A portion of each contribution is often matched by the employer. Other pre-tax benefits include Health Savings Accounts and Flexible Spending Accounts, which help you to set aside money for medical and child-care expenses.</p> </div> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="are-there-easy-ways-to-save-money" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> Are there easy ways to save money? </h2> </div> </div> <div class="unity-layout layout section"> <uc-layout version="v1_3.10.1-ENT-6"> <div class="uc uc-layout uc-layout--d-width-default uc-layout--m-width-default uc-layout--top-pad-0 uc-layout--bottom-pad-0" style="max-width: 100%;"> <div class="uc-grid uc-grid--cols-2--medium uc-layout__grid uc-layout__grid--col-2_50-50 uc-layout__grid--no-separator uc-layout__grid--vertical-separator-black uc-layout__grid--content-align-default uc-layout__grid--content-vertical-align-default "> <div class="uc-layout__grid-cell "> <div class="aem-wrap--text-latest"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Almost all banks offer automated transfers between your checking and savings accounts. You can choose when, how much and where to transfer money or even split your direct deposit so that a portion of every paycheck goes directly into your savings account. The advantage: You don’t have to think about it, and you’re less likely to spend the money instead. Other easy <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/simple-saving-tools"><span class="inline-link--black">savings tools</span></a> include credit card rewards and spare change programs, which round up transactions to the nearest dollar and transfer the difference into a savings or investment account.</p> </div> </div> </div> </div> <div class="uc-layout__grid-cell "> <div class="aem-wrap--media"> <uc-media version="v1_3.10.1-ENT-6" class="uc-component uc-media" data-action="unityMedia" buttonAnimation="false" buttonPosition="center" disclaimerText="<p><em>The material provided on this website is for informational use only and is not intended for financial or investment advice. Bank of America Corporation and/or its affiliates assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment management. ©2025 Bank of America Corporation.</em></p> " entryId="1_ul2104tc" infiniteCarousel="false" isAudio="false" isAuthorMode="false" isPlaylist="false" isVertical="true" partnerId="4699762" playerId="51133253" playlistAutoContinue="false" playlistFilter="false" playlistTheme="black" showDisclaimer="true" theme="red" 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closeTranscriptText="Close Transcript" closeDisclaimerText="Close Disclaimer" disclaimerTitle="Disclaimer" transcriptTitle="Transcript" carouselNextArrowText="Go to Next Item" carouselPreviousArrowText="Return to Previous Item" carouselDotsLabel="of" playlistItemLabel="Item {0} of {1} Play {2} video" validCloseCaptions="true" expandVideoWhenPlaying="false" posterImagePosition="top" data-video-id="1_ul2104tc_"> <div id="how-can-I-avoid-bank-fees-en" class="uc-media__player"> </div> <div class="uc-media-transcript" aria-hidden="true" aria-expanded="false"> <div class="uc-media-transcript__header"> <button aria-label="Close Transcript" class="uc-media-transcript__close uc-media-icon-close" tabindex="-1" title="Close Transcript"></button> </div> <div class="uc-media-transcript__container" tabindex="-1"> <h3 class="uc-media-transcript__title">Transcript</h3> <div class="uc-media-transcript__text"></div> </div> </div> <script type="application/ld+json">{"@type":"VideoObject","name":"How can I avoid bank fees?","description":"No description","thumbnailUrl":"https://cfvod.kaltura.com/p/4699762/sp/469976200/thumbnail/entry_id/1_ul2104tc/version/100021","uploadDate":"2024-10-30T08:52:40-04:00","contentUrl":"https://cdnapisec.kaltura.com/p/4699762/sp/469976200/playManifest/entryId/1_ul2104tc/format/url/protocol/https","embedUrl":"https://cdnapisec.kaltura.com/p/4699762/sp/469976200/playManifest/entryId/1_ul2104tc/format/url/protocol/https","width":1080,"height":1920,"duration":"PT1M35S","transcript":"[Music in background throughout] [A Bank of America employee, Courtney, is speaking directly to camera] On screen copy: Courtney Better Money Habits Champion Courtney: No one likes giving away their money. And sometimes when we're managing our money, there can be fees involved. But it's important that you know what those fees are. And if there is a way for you to avoid them. On screen copy: Ask about fees when you open an account Make sure you're asking the bank whenever you open an account. Are there any maintenance fees for it, and how can I avoid them? That might include daily balances, direct deposit, or asking if they have a student account. Some institutions actually have a fee in order to use a debit card, and others might have a debit card replacement fee if you happen to misplace your card altogether. So make sure that you're keeping track of where it is, On screen copy: Keep track of your debit card or use a Digital Wallet or perhaps utilize the digital wallet, if you have a hard time keeping track of it and you bring it out places. ATM fees are one of those pesky little things cause I always have to pay it when I didn't realize I needed cash that day. So make sure you keep in mind when you use an ATM, you could pay a fee, not only to the ATM itself, but also to your financial institution. How can you avoid that? On screen copy: Try to use your bank’s ATMs Try and use your institution's ATM whenever possible, that way you can do what you need and grab your cash. On screen copy: Always check the fine print Just make sure you're always looking at the fine print and asking those questions to say, what fees could I be paying and is there a way to avoid them? On screen copy: Ask Better Money Habits How can I avoid bank fees? Bank of America® logo Better Money Habits® On screen disclosures: The material provided in this video is for informational use only and is not intended for financial or investment advice. Bank of America Corporation and/or its affiliates assume no liability for any loss or damages resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly, therefore some of the information may not be current. Consult with your own financial professional when making decisions regarding your financial or investment management. Bank of America, N.A. Member FDIC. Equal Credit Opportunity Lender. © 2024 Bank of America Corporation. All rights reserved. [End of transcript]","@context":"http://schema.org"}</script> </uc-media> </div> </div> </div> </div> </uc-layout></div> <div class="aem-wrap--teaser-latest section"> <div class="teaser-latest teaser-latest--red teaser-latest-background--white teaser-latest--left" data-cmp-name="teaser-latest" data-action="teaserLatest"> <a class="teaser-latest__link js-teaser-latest-track t-track-body-copy-link" href="https://promo.bankofamerica.com/digital_banking_demo/mobiletransfer" target="_self" tabindex="0"> <div class="teaser-latest__wrapper"> <img class="teaser-latest__image" src="/content/dam/bmh/product-cta/cta-spending-budgeting-tool.svg" role="presentation" aria-hidden="true"/> <div class="teaser-latest__content"> <span class="teaser-latest__eyebrow">MORE FROM BANK OF AMERICA</span> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p><span class="copy--black">With Mobile & Online Banking, Bank of America clients can easily set up automatic transfers between accounts.</span></p> </div> </div> </div> </div> </a> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left hide-from-nav "> <div class="heading-latest__anchor-link js-anchor-link" data-id="ok-i-have-a-plan-to-save-money-now-what" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> OK, I have a plan to save money. Now what? </h2> </div> </div> <div class="aem-wrap--text-latest section"> <div class="text-latest" data-cmp-name="text-latest"> <div class="cmp-text list-spacing--default list-height--default bullet-color--black "> <p>Review your budget and check your progress every month. That will help you not only stick to your personal savings plan, but also identify and fix problems quickly. Understanding how to save money may even inspire you to find more ways to save and hit your goals faster.</p> </div> </div> </div> <div class="aem-wrap--article-list section"> <div class="article-list__wrapper js-article-list__wrapper article-list__wrapper--in-article "> <ul class="article-list js-article-list" data-action="articleList"> <li class="article-list__item" data-content-type="Article"> <img src="/content/dam/bmh/article-list/tools-that-help-make-saving-simple-relatedcontenthero-268x135.jpg" class="article-list__item__img"/> <a href="https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/simple-saving-tools" data-path="/content/bmh/en/saving-budgeting/simple-saving-tools" hreflang="en-US" class="article-list__item__link js-anchor-wrapper t-track-content-tile" data-bactmln="ItemTile_tools_that_help_make_saving_simple"> <div class="article-list__item__content"> <span class="article-list__item__topic">Saving & Budgeting</span> <div class="article-list__item__title">Tools that help make saving simple</div> <p class="article-list__item__cta "> <i class="icon icon--Article"></i><span class="cta-text">Read more</span><span>, 2 minutes</span> </p> </div> </a> </li> </ul> </div> </div> <div class="aem-wrap--heading-latest section"> <div class="heading-latest display--block heading--align-left "> <div class="heading-latest__anchor-link js-anchor-link" data-id="faqs-about-saving-money" aria-hidden="true" tabindex="-1"></div> <h2 class="heading-latest__text headline--md heading--text-red heading--align-left "> FAQs about saving money </h2> </div> </div> <div class="aem-wrap--accordion section"> <uc-accordion version="v1_3.10.1-ENT-6" class="uc uc-component t-track-uc-accordion" data-placeholder-text="false" icon="caret" theme="light" data-tracking-name="accordion" data-expand-all-copy="Expand all" data-collapse-all-copy="Collapse all"> <uc-accordion-item id="accordion-0"> <h3 class='trigger'> <button class="uc-headline--sm uc-accordion__button" data-bactmln="accordion-_-can-i-negotiate-utility-bills-_-expand" aria-expanded="false" id="accordion-button-0" aria-controls="accordion-section-0"> <span class='uc-heading__headline uc-headline--sm'>Can I negotiate utility bills?</span> </button> </h3> <section class='uc-accordion-item__content' id="accordion-section-0" role="region" aria-labelledby="accordion-button-0" aria-hidden="true"> <p>It’s worth a try, especially if you live in a state that lets you choose your electricity or natural gas provider. Other factors that could help you get a lower bill include:</p> <ul> <li>Being a long-time customer</li> <li>Consistently paying your bill on time</li> <li>Having a big monthly bill</li> </ul> <p>Do some research before calling to learn if the utility has any special promotions or customer loyalty plans that could save you money. Be polite and direct with the customer service representative. If you’re considering changing providers, let them know. They may connect you with a customer retention specialist who has more authority to make changes.</p> <div data-cmp-hook-accordion="panel" id="-panel" role="region"> </div> </section> </uc-accordion-item> <uc-accordion-item id="accordion-1"> <h3 class='trigger'> <button class="uc-headline--sm uc-accordion__button" data-bactmln="accordion-_-what-are-money-saving-challenges-_-expand" aria-expanded="false" id="accordion-button-1" aria-controls="accordion-section-1"> <span class='uc-heading__headline uc-headline--sm'>What are money-saving challenges?</span> </button> </h3> <section class='uc-accordion-item__content' id="accordion-section-1" role="region" aria-labelledby="accordion-button-1" aria-hidden="true"> <p>Money-saving challenges are quirky ways to encourage you to save. They turn savings into a game or competition, making it fun and providing motivation to stick with it. They can also help you break large goals into smaller pieces that are easier to achieve. You can find lots of money-saving challenges on social media. Examples include:</p> <p><strong>52-week money challenge:</strong> This is a year-long challenge that has you transfer steadily increasing amounts into your savings account every week: $1 in week one, $2 in week two, $3 in week three and so on until you get to $52 in week 52. By then, you will have saved $1,378.</p> <p><strong>No-spend money challenge:</strong> For a set period of time—a month, for example—you stop all spending on nonessentials. At the end of the month, add up what you didn’t spend on lattes, trendy clothes or nights out and put that money in your savings account.</p> <p><strong>Weather Wednesday money challenge:</strong> Put an amount of money equal to the high temperature on Wednesdays into your savings account.</p> <div data-cmp-hook-accordion="panel" id="-panel" role="region"> </div> </section> </uc-accordion-item> <uc-accordion-item id="accordion-2"> <h3 class='trigger'> <button class="uc-headline--sm uc-accordion__button" data-bactmln="accordion-_-how-do-i-save-money-fast-_-expand" aria-expanded="false" id="accordion-button-2" aria-controls="accordion-section-2"> <span class='uc-heading__headline uc-headline--sm'>How do I save money fast?</span> </button> </h3> <section class='uc-accordion-item__content' id="accordion-section-2" role="region" aria-labelledby="accordion-button-2" aria-hidden="true"> <p>You’ll be surprised how fast your savings add up if you take a few basic steps:</p> <ul> <li>Create a budget that includes a commitment to savings.</li> <li>Make savings as painless as possible by having part of every paycheck automatically deposited in a savings account and by contributing to your 401(k) plan at work. If you’ve never had that money available to spend, you probably won’t miss it.</li> <li>Gradually bump up the percentage of income you’re saving—every time you get a raise, for example.</li> <li>Whenever you “find” money—from tax refunds, gifts or spending cuts—dedicate a portion of it to savings.</li> </ul> <div data-cmp-hook-accordion="panel" id="-panel" role="region"> </div> </section> </uc-accordion-item> </uc-accordion></div> <div class="aem-wrap--footnote section"> <div class="footnote js-footnote" data-cmp-name="footnote" data-action="footnote"> <ol> <li>Remember that securities are not insured by the FDIC, are not deposits or other obligations of a bank and are not guaranteed by a bank. 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