Tips For Saving Money and Building Wealth in 2015 and Beyond

Saving for a home, car, children, college or retirement
Americans are not saving enough for the future. Just this year, statistics showed that our savings rates are still hovering near historical lows. Not only are we spending more than we earn, our savings rates are at the lowest point since the Great Depression. And we are not alone: this reduced savings trend can also be seen in Australia, Canada, Japan and Italy.

Why is this happening? Some experts point to the availability of affordable credit and the relatively high number of people who have most of their money invested in their homes. Whatever the reason, it is clear that we should be saving more.

The first step is to set up a short term savings account with enough money to cover all your expenses for at least three months. This account will help you handle the day-to-day emergencies and expenses. Online high-yield savings accounts from companies like (WellsFargo, AllyBank, Comerica) can help get you started in their right direction..

Your next step is to think about your long term savings goals.

CNN has a a great website with tons of good article s on personal finance, debt reduction and general financing tips. The website is dedicated to helping you plan for future home, automotive, children, college and retirement expenses. On this website you can use free interactive planning tools, share your story, read articles and access planning calculators. Mint.com also offers easy-to-use calculators to help you evaluate your savings, college planning, monthly spending, cost of raising children and need for disability insurance.

How do your savings measure up? Are you doing enough to prepare for retirement and other long term expenses? Share your feedback and opinion in the comments section below