By M Katie Helle, CPA

Today, many young adults do not understand the power of a good savings habit.  I started working as a young teen and loved getting a paycheck.  To me, earning money meant freedom (SHOPPING!!).  At the time, I did not realize how valuable it would be to create a good savings habit.  As I grew older, I quickly realized you are never too young to start saving money as there is a lot of power behind having a good savings habit.  Here are my top three tips I have learned along the way:

  1. Creating a good savings habit at a young age helps you to understand the difference between your wants versus your needs.
  2. Having a $1,000 savings cushion is key! This allows you to have funds for any emergencies that sudden arise such as large car repairs or unexpected medical expenses instead of having to charge on a credit card.
  3. A monthly budget provides insight into the flow of money coming in and out. This tool helps you to allocate your money on the necessities and as well as set aside money to save.

As you grow older, you will see the value of a good savings habit goes far beyond that savings account balance.  It becomes easier to make large purchases and obtain loans.  They key is to start small.  A fun way to get started with your savings habit is to do a money savings challenge.  In 31 days you will nearly save $500!  Below is a grid showing you the amount to deposit each day with the balance after each deposit.  Are you up for the challenge?


Katie Helle has been in public accounting since 2009, with experience in individual and small business taxation, specializing in payroll and sales tax reporting and compliance and QuickBooks accounting software. She is an Arizona native and resides in Chandler, Arizona with her husband, young daughter, and two goldendoodles.  Outside the office, she is actively involved with community outreach, enjoys fitness, and can be found with a power tool or two in her hand for her many crafts.