• SET YOUR TARGETS: choose an amount that you consider yourself capable of saving each month. For example, you may choose to save a percentage of your income (it is recommended to save at least 10% of your monthly income). Also, if you have already worked on your budget, you may choose to include this amount as part of your expenses in your budget. Your budget will allow you to see where and when you can save more! These options will strengthen your commitment and save time.

• MATCH: be sure to match your saving target with your calendar. Months like December might be different than others since you might spend more than usual on buying gifts and dining out, so be sure to set a limit.

• PLAN: A savings goal will keep you motivated. Your plan can be as simple as establishing an emergency fund, or as big as the down payment towards buying a house. Saving allows you to reach your goals.

• PUT YOUR MONEY INTO A SAVINGS ACCOUNT OR INVEST IT: find out about the different types of accounts for saving or investing your money that the commercial banks and other financial institutions (such as credit unions) offer and which is more convenient for your needs. While doing your research, it is recommended that you take notes on the services, costs benefits of the commercial banks or financial institutions that interest you.

(click here for…..)

Remember, the more savings you have, the closer you will be towards accomplishing your financial goals.

• GIVE YOURSELF A REWARD: compensate yourself moderately with something you like when you exceed your financial goals!