Saving Money & Long-Term Saving Strategies

Learn how to save to support stability and achieve success.

Help your money grow with savings

Saving money is a key factor in your financial world. Without savings, you’re essentially living on unstable financial ground. One health emergency, unexpected major expense or change in your employment could leave you stuck if you don’t have savings to fall back on. And, while taking on debt might sustain you for a time, it only makes things worse if you hit the end of your credit lines.

Savings is the financial safety net you fall back on if you face challenges. It’s also the way you achieve long-term stability and financial success. The more money you can save, the more you have to put away to reach your goals. From retiring on time without a need to work, to being able to pay for a vacation without putting your finances at risk because of debt, savings is what you use to make things happen for you and your family.

With that in mind, Consolidated Credit has put together a selection of guides that help you do everything from organizing your finances to reach your financial goals, to minimizing certain expenses that tend to drain money that could be used for saving. Of course, the biggest road block to savings is often debt, so if you find yourself struggling to save give us a call at to request a Free Debt & Budget Analysis. You can also ask for help online and a certified credit counselor will be in touch for an evaluation.

Saving basics

Saving money is great in theory, but not always so easy in practice. If you find yourself struggling to save up and spending every paycheck, you’re not alone, and sometimes all it takes to get ahead is a change in your strategy. The following resources can help you develop the right financial habits and skills to save effectively:

  • How to Save Money: A Step-by-Step Guide
    You know you need to put money away, but we actually explain how to do it effectively so you save consistently and won’t wind up spending what you put away to waste your effort.
  • How to Organize Your Your Savings Effectively
    Your saving strategy is only as effective as your ability to divide the money you’re putting away to achieve your financial goals. Learn how to balance your savings to reach short, mid and long-term goals in your life.
  • Investing101
    Savings accounts are fine for short-term goals, but fear and intimidation of investing shouldn’t hold you back from achieving long-term financial success. We teach you some basis so you know where to start.

Maximize your savings

Let’s be honest – your ability to save is only as good as the free cash flow you can generate in your budget. If every penny is spoken for, then there’s simply nothing left to save. However, even on a limited budget, savings is possible if you close spending leaks and budget gaps that eat away at your hard-earned money.

These guides can help you get started:

  • Cutting Car Costs
    Transportation costs eat away at a significant portion of your budget –particularly with monthly gas costs and maintenance. We help you minimize your costs to stay on the road.
  • Cutting Energy Costs
    Your Home is the biggest drain on your budget that you have. Whether you rent or own, the monthly cost of your home is always increased by energy consumption. We help you minimize your utility costs so you can get ahead.
  • Cutting Healthcare Costs
    Healthcare costs can wreak havoc even with the most stable budget if you have a major issue or accident. We offer tips to help you ensure you keep your out-of-pocket costs low while ensuring you have enough coverage in case something happens.
  • Smart Spending Tips
    Closing spending leaks in your budget is essential to any saving strategy. We offer helpful recommendations for keeping your budgeted expenses as low as possible so you have more available to save.
  • Tips to Save Money on Insurance
    From your house to your car and even into protecting your family in case something happens to you, insurance is a necessary fixed cost you just can’t avoid. But you can make it affordable to minimize your out-of-pocket costs.

Additional resources

Need more help to make sure you’re saving as much as possible and saving enough to reach your goals? The following resources can help you calculate and comprehend some important saving topics:

  • Simple Savings Calculator
    This allows you to calculate the potential yield you would receive from a savings investment to help you decide if a particular savings option is really the right use of your money.
  • Infographic: The Formula for Saving
    This infographic explains how your deposits and monthly contributions to savings add up with compound interest to yield more money for you.
  • Infographic: Maintaining a Healthy Savings Mix
    This breaks savings down with simple math and easy-to-understand percentages so you can balance your saving strategy in order to achieve success.
  • Infographic: Growing Your Family
    Learn exactly how much money you’ll need to raise your children so you can make an effective saving strategy that helps your family grow