Join Christmas and Vacation Clubs - While money deposited in these accounts usually does not earn a high amount of interest, savings does occur in small amounts, enabling people to reach future goals. The secret of this strategy is setting a limit. Decide for, say 2 months, you'll buy only absolute necessities, literally. Save the rest. Use this same strategy for a Keogh plan if you're self-employed, subject to your maximum contribution limit.
Funds accumulate tax-deferred for retirement.
Analyze Family Expenses - Placing savings first will undoubtedly put pressure on your spending habits. Try to keep track of where your money goes and pinpoint expense categories that you could cut back. If you're paid bi-weekly, in two months of each year you will receive three paychecks. The months will vary with each year's calendar and the day of the week on which you are paid. Save at least part of this money.