Start Saving and Investing

Learning to save and invest is an important step for anyone beginning their financial journey. By putting aside a little money and exploring smart investment options, you can create a secure financial future, handle life’s surprises, and move closer to your goals. 

Take the Course

Key Ideas

• Save every month, even if it’s just a little, so that you develop a savings habit. 
• Remember to include savings in your budget—pay yourself first! 
• Create specific savings goals such as a house, college, or retirement. 
• Make it easy—save automatically. 
• Consider saving for higher education. Having savings available for college can reduce the need to borrow. 

Activities

• Open a special account designated as “savings only” that is not accessible by your debit card. Make the deposits automatic by setting up direct deposit or by regular transfers at a set interval.
• Create specific and measurable goals, such as saving $200/month for two years to put $4,800 towards a car or setting up an automatic deposit of $75/month to go into an education savings account. 
• Looking for ways to save for education or training after high school?  Check out these tips from FAME. 
• Learn more about  Maine’s 529 plan for education savings. 
• Talk with a qualified expert about retirement savings. Be sure to check with your employer on their retirement savings program, incentives, and matches. You may also be able to discuss investment options with your bank or credit union.