Hearing the call to start a savings plan? Answer it! But first – do you know what’s pushing you to do it, how to get there, and what obstacles could deter your path to financial success? Fairfax State Savings Bank breaks down the five keys to keeping you on track as you save.

#1: How You Think Affects What You Save

Say you’re aiming to save $10,000 for your child’s college tuition. That’s no chump change. Savings plans often fail because they seem too daunting of a task. The key? View it in smaller, manageable chunks and not one large lump sum.

#2: It Takes Time

It’s an unavoidable truth. Unless you land a bonus or secure funds elsewhere, reoccurring bills won’t allow you to squirrel away $1,000 all at once. Bit by bit, $25, $30 or $50 at a time is what makes it possible. Saving is about delayed gratification. Save now to savor the gain later.

#3: Consistency is Crucial

Saving money thrives on consistency. It can be as easy as automatically transferring a set amount from your checking account to your savings account every week. However you go about saving money, try to keep it as simple and routine as possible.

#4: You Need to Be Real with Yourself

Living a responsible life and saving what you can = good. Starving yourself and living desperately = bad. Be realistic about your saving, both in what your target is and how you’re going to get there. Food, housing and health take up a serious chunk of your income. Set an attainable amount per month to achieve in small increments.

#5: Cutting Loose Can Save You Big

All savings and no play makes your budget a pain to follow. Depriving yourself of any little purchases here and there makes you more at risk to snap and drop $200 on an impulse buy. Budgeting in a little wiggle room makes it easier to spend responsibly and keeps you from feeling weighted down your obligation. Just remember to keep track of your small expenses; they add up fast.

No matter how much you’re aiming to save, Fairfax State Savings Bank is ready to help. Contact one of our financial advisors to start your journey today!