A key component to smart money skills is learning how to save. Yet, many Americans are not doing it. According to a 2014 Washington Post article, 30.9% of people in the US have no money saved for retirement.
Here are some ways you can start paying yourself today.
1. Try to budget 10% of your monthly income for savings. Look at your unnecessary expenses and see how you can translate those into savings.
2. Build a "rainy day" fund to cover expenses in case of an emergency. It should be readily available for when a real emergency happens.
3. Scale up your savings. Start small and increase it incrementally. One popular idea is
the 52 week plan. Save the amount of money equal to the number of week it is in the year.
4. Set a goal. If saving is hard for you, keep motivated by setting a specific target.
5. Save automatically using direct deposit by having it automatically put into your savings from your paycheck.