Building an emergency fund that would cover 3 to 6 months of living expenses is a very sensible savings goal.
To achieve this, you should set up a standing order that will transfer a regular, affordable amount to a dedicated savings account, as close to payday as possible. You’ll soon readjust your budget to work with what’s left.
Becoming a smart shopper will also help you save money. This means reducing non-essential spending, comparing prices and taking advantage of discounts and special offers.
Many apps and online resources are available that can help with personal budgeting. If these help you reduce your spending, you’ll have more to save.
Finally, take time to meet with an Ask Acorn financial advisor. Sitting down for a full financial review can reveal other ways you can spend less and save more.