{"id":1258,"date":"2023-02-13T00:25:41","date_gmt":"2023-02-13T00:25:41","guid":{"rendered":"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/?page_id=1258"},"modified":"2023-05-02T16:12:01","modified_gmt":"2023-05-02T16:12:01","slug":"saving","status":"publish","type":"page","link":"https:\/\/findex.digitalscholar.rochester.edu\/?page_id=1258","title":{"rendered":"Saving"},"content":{"rendered":"<style>.wp-block-kadence-column.kb-section-dir-horizontal > .kt-inside-inner-col > .kt-info-box_b8ef15-36 .kt-blocks-info-box-link-wrap{max-width:unset;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);border-top-left-radius:30px;border-top-right-radius:30px;border-bottom-right-radius:30px;border-bottom-left-radius:30px;background:#a7f8a0;padding-top:var(--global-kb-spacing-xs, 1rem);padding-right:var(--global-kb-spacing-xs, 1rem);padding-bottom:var(--global-kb-spacing-xs, 1rem);padding-left:var(--global-kb-spacing-xs, 1rem);margin-bottom:var(--global-kb-spacing-lg, 3rem);}.kt-info-box_b8ef15-36 .kadence-info-box-icon-container .kt-info-svg-icon, .kt-info-box_b8ef15-36 .kt-info-svg-icon-flip, .kt-info-box_b8ef15-36 .kt-blocks-info-box-number{font-size:50px;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-media{color:#444444;background:transparent;border-radius:200px;overflow:hidden;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-media-container{margin-top:0px;margin-right:15px;margin-bottom:10px;margin-left:15px;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-media .kadence-info-box-image-intrisic img{border-radius:200px;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-link-wrap:hover .kt-blocks-info-box-media{color:#444444;}.kt-info-box_b8ef15-36 .kt-infobox-textcontent h2.kt-blocks-info-box-title{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:5px;margin-right:0px;margin-bottom:10px;margin-left:0px;}.kt-info-box_b8ef15-36 .kt-blocks-info-box-learnmore{background:transparent;border-width:0px 0px 0px 0px;padding-top:4px;padding-right:8px;padding-bottom:4px;padding-left:8px;margin-top:10px;margin-right:0px;margin-bottom:10px;margin-left:0px;}@media all and (max-width: 1024px){.kt-info-box_b8ef15-36 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}@media all and (max-width: 767px){.kt-info-box_b8ef15-36 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}<\/style>\n<div class=\"wp-block-kadence-infobox kt-info-box_b8ef15-36\"><span class=\"kt-blocks-info-box-link-wrap info-box-link kt-blocks-info-box-media-align-top kt-info-halign-center\"><div class=\"kt-blocks-info-box-media-container\"><div class=\"kt-blocks-info-box-media kt-info-media-animate-none\"><div class=\"kadence-info-box-icon-container kt-info-icon-animate-none\"><div class=\"kadence-info-box-icon-inner-container\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_dollarSign kt-info-svg-icon\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><line x1=\"12\" y1=\"1\" x2=\"12\" y2=\"23\"\/><path d=\"M17 5H9.5a3.5 3.5 0 0 0 0 7h5a3.5 3.5 0 0 1 0 7H6\"\/><\/svg><\/span><\/div><\/div><\/div><\/div><div class=\"kt-infobox-textcontent\"><h2 class=\"kt-blocks-info-box-title\">What is Saving?<\/h2><p class=\"kt-blocks-info-box-text\">Saving means putting some of your money or valuable things aside for later use instead of immediately using it all. It means you might not spend money on everything you want right now to have money for something important later. Saving can be done for many different reasons, like having some money saved in case of an emergency, buying something expensive you really want, investing money to make it grow, or planning for when you retire.<\/p><\/div><\/span><\/div>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center wp-block-paragraph\"><em>\u201cStop Buying Things You Don\u2019t Need To Impress People You Don\u2019t Like With Money You Don\u2019t Have\u201d<\/em><\/p>\n<cite>&#8211; Ice Cube<\/cite><\/blockquote>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">What to expect?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We will be discussing why saving is essential to have in your financial plan. We will be discussing how you can learn about savings and where to start. Then we will discuss different saving methods. Finally, we will explore ways to make savings fun and challenges you can incorporate into your daily life.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Topics<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why is savings important?<\/li>\n\n\n\n<li>Get to know how to start saving<\/li>\n\n\n\n<li>Learn about different saving methods.<\/li>\n\n\n\n<li>Explore ways to make saving fun!<\/li>\n\n\n\n<li>Cool challenges to save money<\/li>\n\n\n\n<li>Additional saving resources <\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/wp-content\/uploads\/2023\/04\/piggy-1024x1024.png\" alt=\"\" class=\"wp-image-1716\" srcset=\"https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/piggy-1024x1024.png 1024w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/piggy-300x300.png 300w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/piggy-150x150.png 150w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/piggy-768x768.png 768w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/piggy.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<!--nextpage-->\n\n\n<style>.wp-block-kadence-column.kb-section-dir-horizontal > .kt-inside-inner-col > .kt-info-box_84705a-78 .kt-blocks-info-box-link-wrap{max-width:unset;}.kt-info-box_84705a-78 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);border-top-left-radius:30px;border-top-right-radius:30px;border-bottom-right-radius:30px;border-bottom-left-radius:30px;background:#a7f8a0;padding-top:var(--global-kb-spacing-xs, 1rem);padding-right:var(--global-kb-spacing-xs, 1rem);padding-bottom:var(--global-kb-spacing-xs, 1rem);padding-left:var(--global-kb-spacing-xs, 1rem);margin-bottom:var(--global-kb-spacing-md, 2rem);}.kt-info-box_84705a-78 .kadence-info-box-icon-container .kt-info-svg-icon, .kt-info-box_84705a-78 .kt-info-svg-icon-flip, .kt-info-box_84705a-78 .kt-blocks-info-box-number{font-size:50px;}.kt-info-box_84705a-78 .kt-blocks-info-box-media{background:transparent;border-radius:200px;overflow:hidden;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kt-info-box_84705a-78 .kt-blocks-info-box-media-container{margin-top:0px;margin-right:15px;margin-bottom:10px;margin-left:15px;}.kt-info-box_84705a-78 .kt-blocks-info-box-media .kadence-info-box-image-intrisic img{border-radius:200px;}.kt-info-box_84705a-78 .kt-infobox-textcontent h2.kt-blocks-info-box-title{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:5px;margin-right:0px;margin-bottom:10px;margin-left:0px;}.kt-info-box_84705a-78 .kt-blocks-info-box-learnmore{background:transparent;border-width:0px 0px 0px 0px;padding-top:4px;padding-right:8px;padding-bottom:4px;padding-left:8px;margin-top:10px;margin-right:0px;margin-bottom:10px;margin-left:0px;}@media all and (max-width: 1024px){.kt-info-box_84705a-78 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}@media all and (max-width: 767px){.kt-info-box_84705a-78 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}<\/style>\n<div class=\"wp-block-kadence-infobox kt-info-box_84705a-78\"><span class=\"kt-blocks-info-box-link-wrap info-box-link kt-blocks-info-box-media-align-top kt-info-halign-center\"><div class=\"kt-blocks-info-box-media-container\"><div class=\"kt-blocks-info-box-media kt-info-media-animate-none\"><div class=\"kadence-info-box-icon-container kt-info-icon-animate-none\"><div class=\"kadence-info-box-icon-inner-container\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_question kt-info-svg-icon\"><svg viewBox=\"0 0 384 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M202.021 0C122.202 0 70.503 32.703 29.914 91.026c-7.363 10.58-5.093 25.086 5.178 32.874l43.138 32.709c10.373 7.865 25.132 6.026 33.253-4.148 25.049-31.381 43.63-49.449 82.757-49.449 30.764 0 68.816 19.799 68.816 49.631 0 22.552-18.617 34.134-48.993 51.164-35.423 19.86-82.299 44.576-82.299 106.405V320c0 13.255 10.745 24 24 24h72.471c13.255 0 24-10.745 24-24v-5.773c0-42.86 125.268-44.645 125.268-160.627C377.504 66.256 286.902 0 202.021 0zM192 373.459c-38.196 0-69.271 31.075-69.271 69.271 0 38.195 31.075 69.27 69.271 69.27s69.271-31.075 69.271-69.271-31.075-69.27-69.271-69.27z\"\/><\/svg><\/span><\/div><\/div><\/div><\/div><div class=\"kt-infobox-textcontent\"><h2 class=\"kt-blocks-info-box-title\">Why is savings important?<\/h2><p class=\"kt-blocks-info-box-text\">Saving money is important because it helps you be prepared for unexpected events, like losing your job or getting sick. It also helps you reach your long-term goals, like buying a house or retiring comfortably. Saving money can reduce stress and make you feel more secure about your finances. Plus, having savings gives you the freedom to take advantage of opportunities when they come up, like starting your own business or going on a trip. So, it&#8217;s important to make saving money a habit and set aside some money regularly to help you achieve your financial goals and be ready for whatever comes your way.<\/p><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">Guide to start saving.<\/h2>\n\n\n\n<h4 class=\"wp-block-heading\">Set a savings goal<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Determine why you want to save money and set a specific goal. For example, you may want to save for a new phone or a vacation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Create a budget<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">List your income and expenses, and identify areas where you can reduce spending. This will help you to free up some money for savings.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Make saving a habit<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Set up automatic monthly transfers from your checking account to your savings account. This way, you won&#8217;t have to remember to save money &#8211; it will happen automatically.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Track your progress<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Keep track of how much you save each month and monitor your progress toward your savings goal.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Use savings apps<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Various savings apps can help you save money without much effort. For example, some apps round up your purchases to the nearest dollar and deposit the difference into your savings account.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Avoid unnecessary expenses<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Try to avoid unnecessary expenses, such as eating out or buying expensive clothes. These expenses can quickly add up and make it harder to save money.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Look for ways to earn more money.<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Consider finding ways to earn extra income, such as doing freelance work or selling items you no longer need.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, saving money takes time and discipline but is worth it in the long run. Following these tips can build a strong financial foundation for your future.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/wp-content\/uploads\/2023\/04\/4-3-1024x1024.png\" alt=\"\" class=\"wp-image-1719\" srcset=\"https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/4-3-1024x1024.png 1024w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/4-3-300x300.png 300w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/4-3-150x150.png 150w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/4-3-768x768.png 768w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/4-3.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<!--nextpage-->\n\n\n<style>.wp-block-kadence-column.kb-section-dir-horizontal > .kt-inside-inner-col > .kt-info-box_eef660-b9 .kt-blocks-info-box-link-wrap{max-width:unset;}.kt-info-box_eef660-b9 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);border-top-left-radius:30px;border-top-right-radius:30px;border-bottom-right-radius:30px;border-bottom-left-radius:30px;background:#a7f8a0;padding-top:var(--global-kb-spacing-xs, 1rem);padding-right:var(--global-kb-spacing-xs, 1rem);padding-bottom:var(--global-kb-spacing-xs, 1rem);padding-left:var(--global-kb-spacing-xs, 1rem);margin-bottom:var(--global-kb-spacing-md, 2rem);}.kt-info-box_eef660-b9 .kadence-info-box-icon-container .kt-info-svg-icon, .kt-info-box_eef660-b9 .kt-info-svg-icon-flip, .kt-info-box_eef660-b9 .kt-blocks-info-box-number{font-size:50px;}.kt-info-box_eef660-b9 .kt-blocks-info-box-media{background:transparent;border-radius:200px;overflow:hidden;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kt-info-box_eef660-b9 .kt-blocks-info-box-media-container{margin-top:0px;margin-right:15px;margin-bottom:10px;margin-left:15px;}.kt-info-box_eef660-b9 .kt-blocks-info-box-media .kadence-info-box-image-intrisic img{border-radius:200px;}.kt-info-box_eef660-b9 .kt-infobox-textcontent h2.kt-blocks-info-box-title{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:5px;margin-right:0px;margin-bottom:10px;margin-left:0px;}.kt-info-box_eef660-b9 .kt-blocks-info-box-learnmore{background:transparent;border-width:0px 0px 0px 0px;padding-top:4px;padding-right:8px;padding-bottom:4px;padding-left:8px;margin-top:10px;margin-right:0px;margin-bottom:10px;margin-left:0px;}@media all and (max-width: 1024px){.kt-info-box_eef660-b9 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}@media all and (max-width: 767px){.kt-info-box_eef660-b9 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}<\/style>\n<div class=\"wp-block-kadence-infobox kt-info-box_eef660-b9\"><span class=\"kt-blocks-info-box-link-wrap info-box-link kt-blocks-info-box-media-align-top kt-info-halign-center\"><div class=\"kt-blocks-info-box-media-container\"><div class=\"kt-blocks-info-box-media kt-info-media-animate-none\"><div class=\"kadence-info-box-icon-container kt-info-icon-animate-none\"><div class=\"kadence-info-box-icon-inner-container\"><span class=\"kb-svg-icon-wrap kb-svg-icon-ic_glass kt-info-svg-icon\"><svg viewBox=\"0 0 8 8\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M3.5 0c-1.93 0-3.5 1.57-3.5 3.5s1.57 3.5 3.5 3.5c.59 0 1.17-.14 1.66-.41a1 1 0 0 0 .13.13l1 1a1.02 1.02 0 1 0 1.44-1.44l-1-1a1 1 0 0 0-.16-.13c.27-.49.44-1.06.44-1.66 0-1.93-1.57-3.5-3.5-3.5zm0 1c1.39 0 2.5 1.11 2.5 2.5 0 .66-.24 1.27-.66 1.72-.01.01-.02.02-.03.03a1 1 0 0 0-.13.13c-.44.4-1.04.63-1.69.63-1.39 0-2.5-1.11-2.5-2.5s1.11-2.5 2.5-2.5z\"\/><\/svg><\/span><\/div><\/div><\/div><\/div><div class=\"kt-infobox-textcontent\"><h2 class=\"kt-blocks-info-box-title\">Exploring different savings methods<\/h2><p class=\"kt-blocks-info-box-text\">There are different ways to save your money, like putting it in a savings account or investing it. Exploring these different options can help you make the most of your money. Different savings methods might be better for different goals, like saving for a car or saving for college. Exploring different options to make informed decisions and achieve your financial goals is important. Here are a few methods:<\/p><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h4 class=\"wp-block-heading\">Saving money in a savings account<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves depositing money into a bank account designed for saving, usually with a relatively low-interest rate.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Investing<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves using money to purchase assets, such as stocks, bonds, or real estate, hoping to generate a return on investment.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Retirement accounts<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves using a portion of your income to save for retirement in accounts like 401(k)s or IRAs.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Saving in a piggy bank or cash jar<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves physically putting money aside in a safe place in your home.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Automatic savings plans<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves regularly setting up automatic transfers from your checking account into a savings or investment account.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Certificate of deposit (CD)<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves depositing money into a bank account for a fixed period of time, usually ranging from a few months to several years, in exchange for a higher interest rate.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Treasury bonds<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves buying government-issued bonds with a fixed interest rate.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Money market funds<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This involves investing in a type of mutual fund that invests in short-term, low-risk securities like Treasury bills and certificates of deposit.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/wp-content\/uploads\/2023\/04\/mag-1024x1024.png\" alt=\"\" class=\"wp-image-1742\" srcset=\"https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/mag-1024x1024.png 1024w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/mag-300x300.png 300w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/mag-150x150.png 150w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/mag-768x768.png 768w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/mag.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<!--nextpage-->\n\n\n<style>.wp-block-kadence-column.kb-section-dir-horizontal > .kt-inside-inner-col > .kt-info-box_1279e6-dc .kt-blocks-info-box-link-wrap{max-width:unset;}.kt-info-box_1279e6-dc .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);border-top-left-radius:30px;border-top-right-radius:30px;border-bottom-right-radius:30px;border-bottom-left-radius:30px;background:#a7f8a0;padding-top:var(--global-kb-spacing-xs, 1rem);padding-right:var(--global-kb-spacing-xs, 1rem);padding-bottom:var(--global-kb-spacing-xs, 1rem);padding-left:var(--global-kb-spacing-xs, 1rem);margin-bottom:var(--global-kb-spacing-md, 2rem);}.kt-info-box_1279e6-dc .kadence-info-box-icon-container .kt-info-svg-icon, .kt-info-box_1279e6-dc .kt-info-svg-icon-flip, .kt-info-box_1279e6-dc .kt-blocks-info-box-number{font-size:50px;}.kt-info-box_1279e6-dc .kt-blocks-info-box-media{background:transparent;border-radius:200px;overflow:hidden;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kt-info-box_1279e6-dc .kt-blocks-info-box-media-container{margin-top:0px;margin-right:15px;margin-bottom:10px;margin-left:15px;}.kt-info-box_1279e6-dc .kt-blocks-info-box-media .kadence-info-box-image-intrisic img{border-radius:200px;}.kt-info-box_1279e6-dc .kt-infobox-textcontent h2.kt-blocks-info-box-title{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:5px;margin-right:0px;margin-bottom:10px;margin-left:0px;}.kt-info-box_1279e6-dc .kt-blocks-info-box-learnmore{background:transparent;border-width:0px 0px 0px 0px;padding-top:4px;padding-right:8px;padding-bottom:4px;padding-left:8px;margin-top:10px;margin-right:0px;margin-bottom:10px;margin-left:0px;}@media all and (max-width: 1024px){.kt-info-box_1279e6-dc .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}@media all and (max-width: 767px){.kt-info-box_1279e6-dc .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}<\/style>\n<div class=\"wp-block-kadence-infobox kt-info-box_1279e6-dc\"><span class=\"kt-blocks-info-box-link-wrap info-box-link kt-blocks-info-box-media-align-top kt-info-halign-center\"><div class=\"kt-blocks-info-box-media-container\"><div class=\"kt-blocks-info-box-media kt-info-media-animate-none\"><div class=\"kadence-info-box-icon-container kt-info-icon-animate-none\"><div class=\"kadence-info-box-icon-inner-container\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fas_smile-beam kt-info-svg-icon\"><svg viewBox=\"0 0 496 512\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M248 8C111 8 0 119 0 256s111 248 248 248 248-111 248-248S385 8 248 8zM112 223.4c3.3-42.1 32.2-71.4 56-71.4s52.7 29.3 56 71.4c.7 8.6-10.8 11.9-14.9 4.5l-9.5-17c-7.7-13.7-19.2-21.6-31.5-21.6s-23.8 7.9-31.5 21.6l-9.5 17c-4.3 7.4-15.8 4-15.1-4.5zm250.8 122.8C334.3 380.4 292.5 400 248 400s-86.3-19.6-114.8-53.8c-13.5-16.3 11-36.7 24.6-20.5 22.4 26.9 55.2 42.2 90.2 42.2s67.8-15.4 90.2-42.2c13.6-16.2 38.1 4.3 24.6 20.5zm6.2-118.3l-9.5-17c-7.7-13.7-19.2-21.6-31.5-21.6s-23.8 7.9-31.5 21.6l-9.5 17c-4.1 7.3-15.6 4-14.9-4.5 3.3-42.1 32.2-71.4 56-71.4s52.7 29.3 56 71.4c.6 8.6-11 11.9-15.1 4.5z\"\/><\/svg><\/span><\/div><\/div><\/div><\/div><div class=\"kt-infobox-textcontent\"><h2 class=\"kt-blocks-info-box-title\">How to make saving fun<\/h2><p class=\"kt-blocks-info-box-text\">Saving money can sometimes feel like a chore, but there are ways to make it more enjoyable and fun. Here are some ideas:<\/p><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h4 class=\"wp-block-heading\">Set a savings goal for something you really want<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Whether it&#8217;s a vacation, a new gadget, or a special treat, having a specific savings goal in mind can make saving more meaningful and exciting.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Create a savings challenge.<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Challenge yourself to save a certain amount of money each week or month, and track your progress with a visual aid like a chart or jar. You can even turn it into a friendly competition with friends or family members.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Find free or low-cost activities.<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of spending money on expensive outings or entertainment, look for free or low-cost activities in your community, like hiking, picnics, or museums, with free admission days.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Get creative with DIY projects.<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Look for ways to make things yourself, like DIY home decor, homemade gifts, or upcycling projects. Not only can this save you money, but it can also be a fun and rewarding hobby.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Use a savings app<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Many savings apps can make saving money feel more interactive and fun. Some apps offer rewards or challenges for meeting savings goals, while others use gamification to make saving feel like a game.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, finding what works for you is the key to making saving fun. Experiment with different approaches and strategies until you find something that motivates and excites you.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/wp-content\/uploads\/2023\/04\/smile-1024x1024.png\" alt=\"\" class=\"wp-image-1743\" srcset=\"https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/smile-1024x1024.png 1024w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/smile-300x300.png 300w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/smile-150x150.png 150w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/smile-768x768.png 768w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/smile.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<!--nextpage-->\n\n\n<style>.wp-block-kadence-column.kb-section-dir-horizontal > .kt-inside-inner-col > .kt-info-box_9d4463-53 .kt-blocks-info-box-link-wrap{max-width:unset;}.kt-info-box_9d4463-53 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);border-top-left-radius:30px;border-top-right-radius:30px;border-bottom-right-radius:30px;border-bottom-left-radius:30px;background:#a7f8a0;padding-top:var(--global-kb-spacing-xs, 1rem);padding-right:var(--global-kb-spacing-xs, 1rem);padding-bottom:var(--global-kb-spacing-xs, 1rem);padding-left:var(--global-kb-spacing-xs, 1rem);margin-bottom:var(--global-kb-spacing-md, 2rem);}.kt-info-box_9d4463-53 .kadence-info-box-icon-container .kt-info-svg-icon, .kt-info-box_9d4463-53 .kt-info-svg-icon-flip, .kt-info-box_9d4463-53 .kt-blocks-info-box-number{font-size:50px;}.kt-info-box_9d4463-53 .kt-blocks-info-box-media{background:transparent;border-radius:200px;overflow:hidden;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kt-info-box_9d4463-53 .kt-blocks-info-box-media-container{margin-top:0px;margin-right:15px;margin-bottom:10px;margin-left:15px;}.kt-info-box_9d4463-53 .kt-blocks-info-box-media .kadence-info-box-image-intrisic img{border-radius:200px;}.kt-info-box_9d4463-53 .kt-infobox-textcontent h2.kt-blocks-info-box-title{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-top:5px;margin-right:0px;margin-bottom:10px;margin-left:0px;}.kt-info-box_9d4463-53 .kt-blocks-info-box-learnmore{background:transparent;border-width:0px 0px 0px 0px;padding-top:4px;padding-right:8px;padding-bottom:4px;padding-left:8px;margin-top:10px;margin-right:0px;margin-bottom:10px;margin-left:0px;}@media all and (max-width: 1024px){.kt-info-box_9d4463-53 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}@media all and (max-width: 767px){.kt-info-box_9d4463-53 .kt-blocks-info-box-link-wrap{border-top:5px solid var(--global-palette7, #eeeeee);border-right:5px solid var(--global-palette7, #eeeeee);border-bottom:5px solid var(--global-palette7, #eeeeee);border-left:5px solid var(--global-palette7, #eeeeee);}}<\/style>\n<div class=\"wp-block-kadence-infobox kt-info-box_9d4463-53\"><span class=\"kt-blocks-info-box-link-wrap info-box-link kt-blocks-info-box-media-align-top kt-info-halign-center\"><div class=\"kt-blocks-info-box-media-container\"><div class=\"kt-blocks-info-box-media kt-info-media-animate-none\"><div class=\"kadence-info-box-icon-container kt-info-icon-animate-none\"><div class=\"kadence-info-box-icon-inner-container\"><span class=\"kb-svg-icon-wrap kb-svg-icon-ic_lightbulb kt-info-svg-icon\"><svg viewBox=\"0 0 8 8\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M3.41 0a.5.5 0 0 0-.13.06l-3 1.5a.5.5 0 1 0 .44.88l3-1.5a.5.5 0 0 0-.31-.94zm1 1.5a.5.5 0 0 0-.13.06l-4 2a.5.5 0 1 0 .44.88l4-2a.5.5 0 0 0-.31-.94zm0 2a.5.5 0 0 0-.13.06l-3 1.5a.5.5 0 0 0 .22.94h2a.5.5 0 0 0 .16-1l1.06-.56a.5.5 0 0 0-.31-.94zm-2.56 3.5a.5.5 0 0 0 .16 1h1a.5.5 0 1 0 0-1h-1a.5.5 0 0 0-.09 0 .5.5 0 0 0-.06 0z\" transform=\"translate(1)\"\/><\/svg><\/span><\/div><\/div><\/div><\/div><div class=\"kt-infobox-textcontent\"><h2 class=\"kt-blocks-info-box-title\">Saving challenges<\/h2><p class=\"kt-blocks-info-box-text\"><\/p><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h4 class=\"wp-block-heading\">No-spend challenge<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;This challenge involves committing to a period of time (e.g., a week or month) where you don&#8217;t spend any money on non-essential items like dining out or shopping.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">52-week money challenge<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This challenge involves saving a specific amount of money each week for a year, starting with $1 in the first week and increasing by $1 each subsequent week (i.e., $2 in week 2, $3 in week 3, and so on).<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Round-up challenge<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This challenge involves rounding up your purchases to the nearest dollar and transferring the difference into a savings account. For example, if you spend $4.50 on a coffee, you would round up to $5 and transfer the extra $0.50 into savings.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Spare change challenge<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This challenge involves collecting all of your spare change and depositing it into a savings account. You can use a jar or piggy bank to collect the change and make it a habit to deposit it regularly.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">One-month spending freeze<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">This challenge involves committing to a month where you don&#8217;t spend any money on non-essential items. This can help you break the habit of impulse buying and prioritize your spending.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, setting and sticking to a specific goal is the key to a successful savings challenge. Choose a challenge that aligns with your financial goals and fits your lifestyle, and track your progress along the way.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"http:\/\/asaid.digitalscholar.rochester.edu\/blog\/wp-content\/uploads\/2023\/04\/bulb-1024x1024.png\" alt=\"\" class=\"wp-image-1744\" srcset=\"https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/bulb-1024x1024.png 1024w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/bulb-300x300.png 300w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/bulb-150x150.png 150w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/bulb-768x768.png 768w, https:\/\/findex.digitalscholar.rochester.edu\/wp-content\/uploads\/2023\/04\/bulb.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u201cStop Buying Things You Don\u2019t Need To Impress People You Don\u2019t Like With Money You Don\u2019t Have\u201d &#8211; Ice Cube What to expect? We will be discussing why saving is essential to have in your financial plan. We will be discussing how you can learn about savings and where to start. Then we will discuss&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"default","_kad_post_title":"hide","_kad_post_layout":"normal","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"class_list":["post-1258","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/pages\/1258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1258"}],"version-history":[{"count":24,"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/pages\/1258\/revisions"}],"predecessor-version":[{"id":1787,"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=\/wp\/v2\/pages\/1258\/revisions\/1787"}],"wp:attachment":[{"href":"https:\/\/findex.digitalscholar.rochester.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}