Cutting spending is a huge part of your savings strategy. But the main mechanism to meet savings goals is to set up a savings account. Then make your savings plan automatic — put it on autopilot. There are several ways to do this: Create automatic transfers to a savings account. Transfer money into savings each week or month. Many banks offer automatic transfers. For example, Chase has an app called Autosave to set up automatic transfers. Split your direct deposit. Many direct deposit plans allow you to designate a contribution amount to go to savings. You’re less tempted to spend money that goes straight to a savings account. Save credit card rewards. If you use a credit card and regularly rack up cash back, make it part of your savings goal. Periodically transfer the cash rewards into savings. Save change. You can do this literally by putting excess coins in a jar. Periodically deposit coins to savings. Or use a special program such as Bank of America’s Keep the Change. It rounds up every purchase made using a debit card to a whole number, and transfers the difference to a bank account.