Everyone knows how important it is to regularly put money into savings, but research shows that 25% of Americans have no emergency savings at all.

If you’re ready to start saving, but don’t know where to begin, TruMark Financial can help. Here are some simple steps that can get you on the fast track to building your nest egg today:

Set a goal

Take a few minutes to think over your long-term and short-term savings goals. These can include saving for retirement, a dream vacation, large purchases, etc. Make sure to assign a dollar value for each goal.

Start tracking your expenses and income

Determine exactly how much money you need to get through each month. For three months, keep a record of each of your expenses and all streams of income. As you complete this step, be sure to include seasonal and occasional expenses.

At the end of the three-month period, review your expenses and income to see how much money you really require to live on each month.

Trim your expenses

If your expenses are greater than your income or the numbers are too close for comfort, it’s time to scale back. Look for ways to trim your expenses without feeling the pinch. Start with your biggest non-fixed expense and move from there to cut costs wherever you can.

Create a budget

With your newly trimmed expenses, you’re ready to create a monthly budget. Use your list of monthly expenses and income to designate an appropriate amount for each monthly expense. Be sure to include savings in your budget — as if it were actually an expense.

Choose your savings tools

For long-term savings, look for a savings option that offers an attractive rate, like a share certificate at TruMark Financial or an IRA for retirement savings.

Keep in mind that you may not be able to open a long-term savings account immediately if you don’t have the amount of funds required for your minimum initial deposit.

Short-term savings are better off in an account that allows for easy access and some monthly transactions if needed, like a checking account or money market account at TruMark Financial.

If you need help getting started, call 1-877-TRUMARK, click, or stop by TruMark Financial today. We can help you choose a savings account that best suits your needs.