Saving
Saving money is crucial for financial stability and achieving long-term goals. By consistently setting aside a portion of your income, you build a safety net for emergencies and invest in your future. Smart saving habits allow you to weather financial challenges and pursue your financial goals with confidence.
Did you know?
Families with a savings cushion as little as $250-$749 are 80% less likely to be evicted, or miss a housing or utility payment. (Urban Institute, 2016)
Save for Emergencies
Save for Emergencies so you can recover quicker after an unplanned expense and get back on track with financial goals. Use this guide to building an emergency fund by the Consumer Financial Protection Bureau.
Save for Higher Education
Save for Higher Education so you’ll be prepared to further your education and get a head start on life with minimal debt payments. Learn more about Utah’s official educational savings plan, my529.
Save for Your Retirement
Save for Your Retirement so you can have a certain level of self-sufficiency and enjoy your later years as much as your earlier years. Here are 10 ways to prepare for retirement from the U.S. Department of Labor.
Saving strategies for those with Disabilities
Learn more about how to save without losing your needs-based benefits. ABLE is helping Utahns to achieve greater independence and financial security.
Save for Medical Costs
Save for medical costs and increase the money you have available for medical bills by setting aside pre-tax funds. Learn how health savings accounts (HSA) and flexible spending accounts (FSA) work and how they differ.
Save for a House
Save for a house so you’ll have a jump start on money set aside for a down payment and closing costs. Search for local down payment assistance programs to help buy a home.
Tips for talking about saving with kids
- The Roadmap for Their Future is a year-by-year, grade-by grade guide to discussing money and savings
- Money as You Grow Bookshelf reading guides about picture books for parents to discuss with children
Additional Resources
Consumer Financial Protection Bureau Your Money, Your Goals Toolkit
Setting goals and savings modules
Bankrate: Simple Savings Calculator
Simple savings calculator to estimate growth overtime.
Looking for an easy way to save money? Make it automatic
How to set up automatic transfers to make savings simpler
Cutting Expenses Guidebook
How to cut expenses and spend wisely to make room for savings.