How to Start Saving

Savings Steps For a Stronger Financial Future

At Commonwealth Credit Union, we believe financial literacy is a foundation for success—and there's no better time to strengthen that foundation than during Financial Literacy Month. One of the most important habits to build is saving money. Whether you're setting aside funds for an emergency, a vacation, or a long-term goal, a consistent savings strategy can make a huge difference.

Here are three simple steps to help you get started:

1. Set a Clear Goal

Saving is a lot easier when you know what you’re saving for. Are you building an emergency fund? Saving for a down payment? Planning a family vacation? Setting a specific, measurable goal gives your savings purpose and motivation. Start by writing it down and setting a timeline. Knowing your "why" can help you stay committed even when it’s tempting to spend.

2. Automate Your Savings

Take the effort out of saving by making it automatic. Set up a recurring transfer from your checking to your savings account each payday. Even a small, regular amount adds up over time—and by automating it, you're less likely to spend that money elsewhere. At Commonwealth Credit Union, setting up automatic transfers through our Online Banking or the Mobile App is quick and easy.

3. Start Small

Don’t feel like you need to save hundreds of dollars right away. The key is to start—even if it's just $5 a week. Once you’ve built the habit, you can increase the amount over time. Every little bit counts, and getting started is half the battle.

Need more tips on how to begin? Check out our Start Saving Strategy article on CommonCents for even more guidance and encouragement.