Saving Money: How to Get Started - KATV - Breaking News, Weather and Razorback Sports

Saving Money: How to Get Started

Posted: Updated:

The urge to splurge can be tough for many of us. But with the economy looking a little bit better, it's even more important to set aside some savings for short and long term goals.

Americans are saving more now than before the recession, but there's always room for improvement. And the good thing about savings is that starting small -- can add up big over time.

This is "America Saves Week". Want  to save more money? Getting started is often the toughest part. 

  • Get going by setting up a goal for yourself or your family.  Then, put a plan in place -- especially if it's a long-term goal like retirement.
  • Look at all of your expenses, and create a budget that allows for savings -- and don't be afraid to change things from time to time.  Ken McDonnell, America Saves Program Director, says "This is not a set it and forget it. You need to revisit that plan periodically to make sure that the money is growing in the way that you want."
  • If you just can't help yourself from spending when there's money in your pocket or in your checking account -- let the bank help you avoid temptation.  "The ultimate best way to get around all of this is an automatic savings," says McDonnell. "And you can set this up with your bank to have, say, 25 dollars a month taken out of our checking account, and put directly into a savings account."

And keep in mind that when it comes to savings, it's never too early -- or late -- to get started.

(Source: CNN)

  • Most Popular StoriesMost Popular StoriesMore>>

  • Police warn parents about criminal consequences of kids "sexting"

    Police warn parents about criminal consequences of kids "sexting"

    Tuesday, April 22 2014 11:09 PM EDT2014-04-23 03:09:53 GMT
    JACKSONVILLE (KATV) - Hormones run rampant in teens – it’s why the concept of sending lewd photos to one another seems so natural to them. But do they know that doing that can land them in some hot water?  More >>
    JACKSONVILLE (KATV) - Hormones run rampant in teens – it’s why the concept of sending lewd photos to one another seems so natural to them. But do they know that doing that can land them in some hot water?  More >>
  • Stolen Home

    Stolen Home

    Stolen Home

    Tuesday, April 22 2014 8:14 PM EDT2014-04-23 00:14:57 GMT

    One Lonoke County woman's dream of home ownership didn't last long.  She is facing eviction amidst allegations that her home is stolen.

    More >>

    One Lonoke County woman's dream of home ownership didn't last long.  She is facing eviction amidst allegations that her home is stolen.

    More >>
  • Update: Murder suspect turns himself in to LRPD

    Update: Murder suspect turns himself in to LRPD

    Tuesday, April 22 2014 10:52 PM EDT2014-04-23 02:52:02 GMT
    (KATV)-The Little Rock Police Department are looking for a man they say is a suspect in a homicide that occurred Monday night. Police say Bernard Sherrod, 20, was found shot outside of his apartment complex on Bryant street. "After detectives talked to the witnesses that were around there, they were able to develop Mr. [Darrell] Freeman as a suspect," said Lt. Sidney Allen of the LRPD.Police are considering Freeman to be armed and dangerous."Well right now they have a pretty good idea of who ...More >>
    (KATV)-The Little Rock Police Department are looking for a man they say is a suspect in a homicide that occurred Monday night. Police say Bernard Sherrod, 20, was found shot outside of his apartment complex on Bryant street. "After detectives talked to the witnesses that were around there, they were able to develop Mr. [Darrell] Freeman as a suspect," said Lt. Sidney Allen of the LRPD.Police are considering Freeman to be armed and dangerous."Well right now they have a pretty good idea of who ...More >>