Before you pay anyone else, pay yourself.
Here’s a really scary stat: More than half of Americans (57 percent) have less than $1,000 in their savings accounts. While it’s not easy to save, the stress of not having any money tucked away can be daunting and costly if or when an emergency strikes. Everyone needs a cash cushion to fall back on every once in a while.

That’s why the age-old saying — “Pay yourself first” — is still great advice. When you make savings a priority, you’re making an investment in yourself – by being prepared for unexpected expenses and planning to fund your dreams and your future.

It’s a new year, and a great time to start the discipline of saving regularly. Here are a few tips to help you kick-start yours savings.

Start with a budget.
It’s difficult to figure out how much you can afford to save each paycheck if you don’t know what’s going out versus coming in to your bank account. Use your budget worksheet to determine your income, deduct your bills, and know how much discretionary money you have left over each month.

After that’s done, you can commit to a realistic dollar amount that you’ll place in savings each paycheck — before you pay bills, before you go out to eat, before you spend money on anything. It doesn’t have to be a lot. The important thing is to get started and stick with it. If you’re already tucking away money into a savings account each month, see if you can add a little more to it. The beauty of regular savings is that your money just keeps growing over time.

Make saving automatic.
Saving takes discipline and you can’t leave it to chance. If your paycheck is direct deposited into your checking account, set up an automatic transfer into your savings account. That way, you can save money without having to think about it. By doing so, you’ll avoid the excuses that often derail paying yourself first.

Make saving fun.
Team together with friends or family members to create a savings club. The encouragement and sense of camaraderie can make saving fun, not dreary. Some financial institutions offer savings clubs with incentives to help you stay motivated. With Financial Center’s “Save to Win” program, you not only develop good saving habits and earn a competitive rate, you have a chance to win money. For every $25 you deposit into a Save to Win share certificate, you earn a chance to win up to $5,000 each quarter, along with up to 10 chances each month to win a monthly cash prize.

Not sure where to start? Ask for help.
Whether you’re just beginning to save or have been saving for a while, it never hurts to get some expert advice.

Did you know that your Credit Union is top in the nation for providing adult financial literacy? As a Financial Center member, you have access to our award-winning programs and Certified Financial Counselors like me and others. If you’re having trouble you’re your budget, credit, or just need advice about getting that savings habit going, we’re here for you. Attend a free Wealth Builder class, check out Wealth Builder Online budgeting and savings modules, or set up a 1:1 personal financial counseling session.

The ‘Year to Save’ is upon us! What are you waiting for?