dollar signed being squeezed

The Importance of Managing Money

Introduction > Take the Test > Where Do You Get Your Money? > How To Handle Money > Budgeting and Saving > Conclusion

Budgeting and Saving > Sample Budget > Figuring Out Your Monthly Expenses > Budget Boosters > Saving for a Rainy Day

Saving for a Rainy Day

It is important to set aside money, not only for emergencies, but also for major expenses like education, homes, cars, and eventually retirement. Most financial advisors recommend at least the following:

Although it is not always possible to meet the saving goals above, the best way to start is to start saving a little at a time. Once you create a budget within which you can live comfortably, you might want to look at ways of cutting back on other expenses or creating more income. You may want to talk to a financial advisor about ways you cut costs and earn more off the savings you have. Find more ideas on making the most of your money in the next section.

Next: The Importance of Managing Money: Conclusion

Mountain State Centers for Independent Living