Financial planning isn't always easy, but if it's an option for you, here are some ways to plan ahead:
- Set up an emergency fund: If you get a regular paycheck, arrange for a portion of it to deposit directly into your emergency fund at every pay period—set it and forget it
- Save up: If possible, try to find a set amount every month that you feel is realistic to set aside in your savings account. Your savings can be small goals, big purchases, or key milestones
- Make a budget: You don't need to be a finance expert to create a budget. Simply list all of your monthly expenses and keep track of what you spend on each throughout the month. You'll quickly see where you can spend less and save more (including on your groceries)
Consider meeting with a financial advisor if possible, to discuss financial options that may be right for you.
If you work for a company that offers a 401(k), take advantage of it. If not, there are plenty of other ways to save and invest your money. You may want to look into a certificate of deposit (CD) and other similar types of investments.