Four tips to make saving money a habit

April is National Financial Literacy Month and a good time to revisit some valuable financial literacy skills.

After all, did you know that 27 percent of U.S. adults have no emergency savings at all? That’s according to the Bankrate 2025 Annual Emergency Savings Report published in February. That number is the highest percentage since Bankrate asked the question in 2020.

Additionally, the same survey found that over 1 in 3 (34 percent) millennials have no emergency savings, the highest percentage of any generation.

In recognition of the month, and the opportunity to revisit some financial literacy skills, I have four tips to share to help our Pahrump neighbors start the process of making saving a regular habit.

1. Set a specific, realistic goal

Get very clear on what’s most important to you, whether that’s a rainy day fund to cover unexpected expenses, a family vacation, a house or retirement. Having a target amount for your savings and seeing your progress can keep you motivated.

2. Start small

Think of one or two actions you can take today to help you reach your goal. For example, cut back on expenses like ordering coffee or meals and put that money toward a weekly or monthly savings target. Accomplishing bite-sized goals can result in major progress over time.

3. Make it automatic

The more a habit is automatic, the more likely you’ll be to stick with it. Set up your direct deposit to put a portion of every paycheck into your savings account — before you have the chance to spend it. There are many online banking and digital tools that make it simple to set up automatic transfers to make consistent deposits. There are also mobile apps that will round up your purchases to the nearest dollar and deliver the change into a savings fund.

4. Get empowered

Knowledge is power, and fortunately, free online resources abound that can give you the financial literacy you need to meet your savings goals and gain insights into your money decisions.

For example, Hands on Banking is a free financial wellness hub supported by the Wells Fargo Foundation that offers personalized financial wellness tools and educational content to help with things like budgeting, ways to pay for college, building good credit and savings for goals. To sign up for free, visit handsonbanking.org

Wendell Blaylock is Wells Fargo’s Senior Community Impact & Sustainability Specialist in Nevada.