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Anyone who has a job probably knows by now how important it is to save money. Savings can help a lot during times of need, times of want, and just times of spending. Setting up savings might be a little challenging if you have never had the opportunity to do so.

Here are a few tips on how to set up savings

• First set up a budget that maps out your expenses and income.
• After you have a budget set aside a portion of your surplus income to put into a savings area. Many people will put half of their surplus money if not more.
• Purchasing saving bonds can be a great way to create savings without a savings account
• Set up a savings account or area. Savings accounts will offer you interest on the money you put into savings on a monthly basis. This will be both beneficial for your wallet as well as your credit score.
• Set up auto savings. If you have a guaranteed income and an idea as to how much you would like to save per month, setting up an auto withdrawal from a checking account into a savings account can help you to insure that you actually put money into the account. Additionally it becomes one less thing that you have to do instead it is done automatically for you. Note however that if you do set up automatic savings you need to keep that in mind when you are spend the money that is for expenses.
• Try not to touch the savings you create. The idea behind saving is that you are saving rather than spending. Make a commitment to yourself that you won’t spend the money you are trying to save.