Save for the long term
While account holders want to enjoy the here and now, short-term spending can cost big time down the road.
"If you're going to be a saver, it's going to require some tough decisions," McBride says. "It means passing up consumption today so that you can instead save for consumption in the future."
McBride highlights that saving is not simply geared toward building up money to use in the event of emergencies.
"Americans are woefully undersaved for retirement," McBride says.
McBride points to the increasing number of seniors who are unable to retire and the overwhelming amount of outstanding student debt as a reminder that account holders must save for long-term goals.
"You can build an emergency savings fund while building a retirement fund or a college fund at the same time," McBride says. "You have to attack both at the same time in the same way by automating your contributions."