Save for your best life

It’s always a good time to kick-start health savings habits that can help you reach our financial goals, whether it’s building an emergency fund or saving for your next big vacation.

Try these strategies to start saving for your best future:

1. Set goals. It’s hard to crack down on savings when you don’t know what you’re saving for. Write down your short-term and long-term savings goals. Are you saving for retirement, for an emergency fund, or for a really nice rod bike? Knowing what is on your list can motivate you to make the necessary changes and a budget can help make this happen. 
2. Create a budget. A budget is a tool that will help you understand the money coming in and out of your household. Tell your money where to go, rather than wonder where it went.
3. Establish an emergency fund. Emergencies happen. Having an emergency fund can help protect you against life’s unexpected expenses. When you have an emergency fund in place, you’re giving yourself a back-up plan — one that can help you from racking up credit card debt, taking a loan or jeopardizing your financial goals.
4. Focus on debt. Establish a pay down strategy for your debt, starting with your highest interest debt. And if you’re carrying debt at high interest rates — credit cards, for instance — consider transferring the balance to a credit card with a 0% interest rate for 12 months or more. Even if you can’t get your balance to zero in that time (and you should try), you’ll make more headway with the interest slowing you down. 
5. Save more strategies:

• Commit to a certain amount you can stop spending in a week 
• Review your bills-what can you trim?
• Cancel your unnecessary subscriptions
• Save your change
• Commit to a “No Spend” challenge
• Contribute any extra money towards your savings

It’s important to remember that it is never too late to get your finances in order so you can save for your best life. Your future will thank you! 

Learn more with live and on-demand education at voya.com/voyalearn to start building your healthy savings habits for life.