savings

5 steps to boost your savings account

Jump-start your savings with extra cash
Jump-start your savings with extra cash © Tatiana Morozova/Shutterstock.com

As soon as your paycheck arrives, it's time to save.

"You have to automate your savings," McBride says. "If you wait until the end of the month and try to save what's left, there's typically nothing left over."

"That automatic payment toward your retirement or your emergency savings is just like any other bill," McBride says. "You're getting it taken care of right off the bat when you receive your paycheck."

You can also pay yourself first when unexpected cash flows into your savings account. Constantine recommends looking for opportunities to jump-start a savings plan with tax refunds or year-end bonuses.

"Look for a time when you have a little bit more money coming in, and put a portion of that cash toward your savings goal," Constantine says.

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