Saving Money How Tos

Ways to Save Money

Follow these expert tips to save more money than ever. Learn how building your savings can change your life and finances for the better. Get started today. Your future self will thank you.

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Expert Advice

Don’t take financial advice from just anyone. Maximize your earning potential with the advice of top money experts like Robert Kiyosaki, Suze Orman, Jim Cramer and more.

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Best Savings Accounts

The best savings accounts have high interest rates so you can grow your money over time. GOBankingRates surveys the best savings accounts from financial institutions nationwide so you can find an account that makes your money work for you.

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Budgeting

The basics of personal finance start with budgeting. If you spend less than you earn and budget for expenses, you will be well on your way toward financial success. Learn how to manage a budget of your own.

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About Saving Money

Sometimes, we get so focused on paying bills that we forget to pay ourselves. A savings account is an important tool to help manage your personal finances. It’s an account that everyone needs. Even if you don't have a specific savings goal in mind, a regular savings habit can result in a bigger cash reserve. Plus, the earlier you start saving for retirement, the bigger your nest egg.

Of course, saving takes discipline, and reaching goals is much easier said than done. Fortunately, many banks and credit unions offer innovative tools to help you achieve long-term and short-term financial goals.

Strategies to Help You Save

If you're looking to open a new savings account, you owe it to yourself to shop around and compare accounts across multiple financial institutions. You can maximize any savings efforts by choosing accounts that offer higher interest rates such as online savings accounts, certificates of deposit (CD) and money market accounts.

Several banks also provide tools to automate your savings, like round-up programs. For every debit card transaction, the bank rounds up purchases to the nearest dollar and deposits the difference into your savings account. There’s also the option of setting up automatic transfers from a checking account to a savings account at a specified time each month. And if you choose a savings account with no fees or a low monthly maintenance fee, you’ll keep more of your earnings.

There are plenty of time-tested savings strategies to get your account off the ground, and GOBankingRates provides a variety of online comparison tools to help you select the best bank or credit union to take your account to the next level.