10 Ways to Get Back on Track With Your Savings

We all need savings for various purposes -- emergencies, our senior years, and other milestones. If you feel you've fallen behind savings-wise, here are a few things you can do to turn that around.

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Maybe your goal is to max out your retirement plan this year, or to build an emergency fund with enough money to cover three months of bills. It'll help to set a specific objective -- with a dollar amount attached to it -- so you have an actual target to work toward rather than arbitrarily telling yourself you need to save more.

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Following a budget is a good way to keep your spending in check, and the less you spend, the more you can save. Open a spreadsheet or write down your expenses somewhere they can be mapped out line by line. See what your different bills cost you and make sure you're not going overboard in any particular spending category, as that'll thwart your savings efforts.

There are probably at least one or two things you pay for on a monthly basis that you can do without. Maybe it's your gym membership, or the beauty product subscription box you enjoy but don't need. Cutting those expenses will free up cash that'll give your savings a boost.

You may already be living frugally and struggling to save. That's why a side job could be really useful in getting your savings back on track. Find a gig you can work into your schedule, whether it's driving for a rideshare company or editing content on weekends, and bank your earnings from it.

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Most banks let you set up an automatic transfer so that money filters from your checking account to your savings account. Sign up for one of those to kick-start the savings process -- and remove the temptation to spend your entire paycheck.

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Just as you can set up an automatic transfer from checking to savings, so too can you automate your retirement plan contributions. If you have a 401(k), just sign up with your employer, and your payroll department will take care of the rest. If you're saving in an IRA, find one with an automatic transfer feature so you can put the process on autopilot.

You may come into extra money during the year, whether it's a tax refund, a gift, or a stimulus check. Pledge to put all of that cash into savings -- it'll go a long way.

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If you're serious about doing better savings-wise, check in on your progress every month. See how much you've spent and whether your account balances are growing or holding steady -- and if it's the latter, think of ways you can tweak your spending to change that for the following month.

Saving money isn't something you have to do alone. In fact, getting your spouse or partner's buy-in could get you closer to your goals. Sit down and talk about the ways your spouse or partner can support you, whether it's cooking at home together instead of going out or taking a staycation this year instead of going away.

You may not make a huge dent in your savings efforts right away. But do be sure to pat yourself on the back for the progress you manage to make. If you have a month when your savings account balance grows by $50, smile about it. You deserve credit for working hard to change your financial picture for the better.

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Saving money is a marathon, not a sprint. While these tips will help you get back on track with your savings, remember that it may take time to meet your goals. Be patient with yourself and keep at it. A positive attitude will help you win at saving money, even if it doesn't happen right away.

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