• Students
• Parents
• Consumers
• Campus Professionals
• K-12 Educators
• Community Organizations
• Employers

Managing Your Money

• Setting Up a Budget
• Getting Through College on Less
• Build Savings
• Successful Credit Use
• Student Loan Management
• ID Theft Prevention

Resources/Tools

• Personal Budgeting Tool
• Money Talks Podcasts
• Online Clearinghouse
• Learning Modules
• Calculators
• Publications
• News

Build Savings

The more money you save and the earlier you begin saving, the more your money will grow. It’s important to make saving a priority now, even if money is tight.

• Make savings automatic. If you want to break the paycheck-to-paycheck cycle and experience financial freedom, make saving a habit. Each pay period, automatically transfer money from your paycheck to your savings account. Direct deposit makes saving simple, because you’re less likely to spend what you don’t see.
• Adjust your withholdings. If you’re employed, make sure your W-4 form is filled out to your best advantage. File a new W-4 anytime there’s a major change in your life, like a marriage, birth of a child or purchase of a home, all of which can affect the amount of tax you’ll owe.
• Cut corners. If you save $20 per week by bringing your lunch to work, put that money into savings. If you frequently spend money on movies, see a matinee or subscribe to a monthly online movie service and deposit the difference in your savings account.
• Reduce monthly fees. Monthly fees can add up to hundreds of dollars per year. Eliminate services that you pay for but don’t use, like, gym memberships and premium cable channels.
• Put away windfall money. If you earn a raise, get a refund or receive a cash gift, put it into savings. Maximizing “found” money will help you reach your goals faster.
• Pay yourself. If you’re currently making debt payments, when you’ve paid the balance in full, use that money to make regular contributions to your savings account.
• Keep your eyes on the prize. Whether your goal is next semester’s tuition, home ownership or early retirement, regularly remind yourself why you’re saving. Motivate yourself by posting notes and pictures that represent your goals where you’ll see them often.
• Invest today for wealth tomorrow. Once you’ve established an emergency fund, eliminated debt and have some short-term savings in place, start thinking about long-term investing. If your employer offers a 401(k) or other pretax matched savings plan, aim to invest at least as much as your employer will match. If you don’t, you’ll lose free money!

It All Adds Up

::Savings Chart:: This chart shows how much money you'll have by age 65, thanks to the power of compounding interest. It assumes a 5 percent return, compounded annually, and assumes the saver will continue to save the same amount each week until age 65.
Age	$10 each week	$25 each week	$50 each week
20	$85,143	$212,859	$425,176
30	$48,154	$120,385	$240,768
40	$25,445	$63,614	$127,227
50	$11,504	$28,761	$57,522

This cost of delay chart shows how delaying saving, by just one year, affects the overall total in the account. For example, if you start saving $25 a week at age 21, instead of age 20, and continue to save $25 a week until you're 65, you'd lose $11,406 by waiting one year! So, start saving now and continue to make it a habit.

::Cost of Delay Chart:: This chart shows how much money you'll lose by waiting a year to start saving. It assumes a 5 percent return, compounded annually, and assumes the saver will continue to save the same amount each week until age 65.
Age	$10 each week	$25 each week	$50 each week
20	- $4,562	- $11,406	- $22,811
30	- $2,801	- $7,002	- $14,003
40	- $1,719	- $4,299	- $8,597
50	- $1,055	- $2,639	- $5,278