Sometimes saving money takes money, much like the popular phrase “it takes money to make money.”

The wealthy know this very well, as they let money work for them instead of working for it. Once you have developed this mentality, building a hefty savings account is not far away.

A common college finance problem explains the impact time can have on savings: Read more

Throughout life you are sure to face some major expenses, while some are unexpected, others such as a move, home, car, or wedding can be prepared for with some advanced planning. You should avoid credit cards for these purchases at all costs, even if you think you are getting a “good deal,” it will come back to haunt you in the future. Read more

When developing a budget there should always be a line item for savings. We all know savings is important for not only emergencies, but also for cars, homes, retirement and other hopes and dreams.

But how much should you really save? A great baseline for saving is the 70:20:10 rule. This rule is great because it can apply to any saver, at any income level. It is also a great concept because it accounts for not only long-term saving, but the short term as well. Read more