Is Your Savings On Track?

Have 3-6 months expenses saved

This safety net covers job loss, medical emergencies, or unexpected major expenses

Fund is in a high-yield savings account

High-yield accounts earn 10-25x more interest than traditional savings accounts

Fund is separate from regular checking

Keeping your emergency fund in a separate account reduces the temptation to spend it

Defined short-term savings goals (1-2 years)

Examples: vacation fund, car down payment, holiday gifts — with specific dollar amounts

Defined medium-term goals (3-5 years)

Examples: house down payment, career change fund, wedding — with target dates and amounts

Defined long-term goals (5+ years)

Examples: retirement, children's education, investment property — these may benefit from market growth

Each goal has a target amount and timeline

A goal without a number and deadline is just a wish — make them SMART (Specific, Measurable, Achievable, Relevant, Time-bound)

Automated monthly transfers to savings

Pay yourself first — set up automatic transfers on payday so you never skip saving

Using high-yield accounts for short-term

Money needed within 2 years should stay in savings accounts or CDs — not the stock market

Invested appropriately for long-term goals

Money you won't need for 5+ years can be invested in index funds or ETFs for growth potential