You know you should . . . but do you?

You know you should save money, but do you put money into savings every month? Do you have a savings goal? It is easier to stay motivated when working toward a goal. The best goals are well defined.  Check out this Savvy Saver article about creating a saving goal.

Here are some steps you can take today to become a successful saver.

1. Open a Savings account. Virginia Savers can open free or low fee savings accounts at local banks and credit unions. Check out our partners. These banks and credit unions offer no fee, low beginning balance ($25 or less) accounts.

2. Make saving automatic. Set up automatic monthly transfers from checking account to savings account.

3. Start contributing to workplace retirement plans. Many employers match a portion of the fund saved in retirement funds. Try to at least save enough to receive the employer match; it is free money! There may even receive some tax savings.

4. Save the tax refund. Use the IRS’s Form 8888 to directly deposit part or all of your refund into a savings account. Visit www.Form8888.org for more information.

5. Save raise or bonus this year. Jump start savings with money that will not be missed.

6. Enroll as a Virginia Saver. Savers receive a monthly newsletter full of tips and ideas to increase savings.

The key is to start today! Start small. Think big.