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Begin Saving Now

Now it is time to go to the bookstore, library, and internet and do research on saving, investing and wealth building. Also, be sure to sit down with your Human Resources representative at work or a financial planner to learn about how you can take advantage of the resources available to you. At this point, the sky is the limit when it comes to YOUR MONEY!

Meanwhile, here are a few small - and effective - savings activities that you can begin today.

  • Designate a special box, jar or container of some kind where you can keep all of your pocket change. Beginning now, DO NOT EVER spend pocket change that you receive in any transaction! You will be pleasantly surprised to find that you will be "saving" approximately $5 - 8 per week once you begin this simple habit. That adds up to $260 by the end of the year. Want to take a short trip? There you go!
  • If you already save your pocket change, accept this challenge. Every time you break a bill larger than $1, place every remaining $1 bill in an envelope in a drawer somewhere out of sight. Force yourself not to touch this money! It is amazing how much you will save between your pocket change and these $1 bills over a month's time. If you already save all of your $1s, then the next challenge is to never again break anything smaller than a $10 bill. (In other words, save all your five dollar bills.)

Once you are saving in these "little" ways, you will be well on your way to investigating savings vehicles with more long-term impact, such as those offered through your employer, the stock market and other financial services.

The pure momentum and empowerment of understanding how money grows through compounding interest will motivate you even more to learn about and participate in long-term savings programs that will benefit you and your family for years to come!

All of these exercises and suggestions may seem cumbersome and like they would take forever to accomplish. Not so! Start today and you will be well on your way sooner than you think.

To learn more about debt, credit, budgeting, saving and other financial fitness topics, visit

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.