 TITLE: How Much Should You Save Each Month? CONTENT: What Should You Do With Your Savings?\n-------------------------------------\nIf you don't yet have emergency savings, funding that account will likely be your highest priority. You might consider keeping your emergency fund in a high-yield savings account, which will allow you to earn interest on your balance. This can be a solid way to increase your savings simply by leaving money in the account as long as possible.\nAfter you've established your emergency fund, you may want to focus on any outstanding high-interest debt. Allowing interest to accrue on your debts may cancel out your savings if you're carrying high balances, so that is a good next step.\nBig-picture savings goals to consider include saving for a down payment on a home or funding retirement accounts. Depending on the types of retirement accounts you open, you may be able to automatically have contributions withdrawn from your paycheck each month. You won't have to remember to make the transfers yourself, but you'll know that you are steadily moving toward your goals.\nIf your employer offers a 401(k) plan, that's a great place to begin saving for retirement, especially if they will match your monthly contributions. However, you have a wide variety of options for saving for retirement, including individual retirement accounts (IRAs) and other investment programs. END