Savings are a very important part of managing money and protecting your family. It takes discipline and planning to save, putting off using money today in order to have money for future needs. For people on tight spending plans, saving may seem like an impossible dream.

Take action and check outAmerica Savestoday to learn from their many tools and resources. You can choose to take yoursavings pledgeand receive savings advice and information through newsletters and emails. You can set a goal andmake a savings plan.

Life happens, from unplanned emergencies and job changes to longer term goals. The first step to financial security is to understand the four different types of savings.

Emergency savingsis money set aside for unplanned emergencies, like a broken appliance, tire repair, or travel to a sick relative. Each family or person must decide how much money to set aside depending on the types of unplanned expenses they might have. Use theAICPA's Emergency Savings Calculatorto estimate how long it will take you to build up your emergency savings fund.

Emergency income savingsis money put aside to pay essential expenses if your income stops for a few months. This money should pay the rent or mortgage, utilities, car payments and car insurance. This money could stop eviction or foreclosure, or car repossession, until your income starts again. The美国联邦储备理事会(美联储,fed)suggests 70% of households surveyed had savings for at least three months’ worth of expenses to manage a financial disruption.

Goal savingsprovides a base for your goals to come true. Find out how much the goal will cost and decide how much needs to be saved monthly to reach that goal.

Long-term savingsis money to pay for education or retirement. Retirement savings allow for a more secure retirement. Social security is not meant to meet all retirement costs. These savings will help you pay for medical care, housing and other needs after retirement. Estimate how much you should be saving with theBallpark E$timate Worksheet.