Setting realistic and achievable goals helps you stay focused and increases the probability for success. Where do you want to be five, ten or fifteen years from now. Sit down and write them out.

Maybe you would like to...

• Take steps toward toxic debt reduction. Pay off those high-interest rate credit cards.
• Be content with the possessions you currently own. Limit purchases to acquiring only what you need.
• Contribute more money to your IRA Account or other retirement fund.
• Payoff a mortgage or save for a down payment on a house.

Having a savings account lets you keep the money you are saving separate from the money that you need to spend.

Shop around for the best type of account and rate from various banks and credit unions. Avoid linking your savings account to your checking account.

It is best to keep your savings account a different financial institution altogether from your checking account. The more inconvenient you make it to access, chances are better that you will leave it alone.

Always pay yourself first before you pay anything or anyone else. This helps to avoid any temptations of spending any money that might be left over.

Avoid using any money that you are saving at all cost! Refrain from borrowing against home equity; otherwise, you will be defeating yourself.

Set up a separate emergency fund for things that might come up like:

• Car repairs;
• Appliance breakdown;
• Unforeseen medical expenses.

Save every receipt from every purchase. By keeping close tabs on the money that is going out, you are able to curb spending and make any necessary cut backs.

Having good credit allows you to receive the best rates on any type of loan and gets you lower premiums on insurance policies.

Creditors and service providers view people that have high credit scores as "low risk."

Pay bills as they come in instead of all at one time. It will be easier to adjust spending patterns if an unexpected expense comes to pass, or if a utility bill is higher than normal.

Unfortunately, there is no magic formula for achieving wealth or secret to getting rich quickly. Save at your own pace and adopt ways that work for you.

Always be on the lookout for more and better ways to save and never give up!