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Staying on Track

Creating and following a monthly budget — including regular saving — can help make your financial goals a reality over time. Make a habit of knowing how much you spend and save so you can enjoy financial security and freedom.

Have a Plan

Set aside a time and write down your plan to save money for future expenses such as paying down debt, purchasing a car, paying tuition and charitable giving. Update the plan at least once a year.

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Pay Yourself First

Make sure you’ve established a routine of saving some money with each paycheck. Open a separate account and set up an automatic deposit of at least 10 percent of each month’s income. Then build your budget from your remaining income.

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Emergency Savings

Creating an emergency fund is your top saving priority. Plan for the unexpected by saving at least 3 to 6 months of living expenses in a separate, interest-bearing account. Consider adjusting the amount over time as expenses and family financial obligations change.

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This information is general in nature and is provided for educational purposes only. Regions makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Regions encourages you to consult a professional for advice applicable to your specific situation. Regions neither endorses nor guarantees any websites or companies referenced in this article that are not owned by Regions.

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