1. Set a target for each goal

Don't just say, "I want to save more money." Instead, set a specific target for each goal you have. For example, you might want to set aside three month's worth of expenses (say, $15,000) in an emergency fund. Perhaps you're saving for plane tickets and a beach resort vacation ($3,000), or you want to save $50,000 toward your child's college tuition by the time they're ready to enroll.

No matter the goal, giving yourself a target will help hold you accountable for making progress.

2. Give yourself a timeline

Put yourself on a schedule for reaching your goal. Your income might fluctuate from time to time, so it might not be easy (or possible) to set aside the same amount every month. But if you know your "time horizon"—how much time you have until you'll need the money—you'll be better able to assess and stay on track.

For example, do you want to save for a new car? Give yourself a year to save up extra cash. A down payment on a house? Set a date further in the future, maybe two, three, or even five years away.

3. Use multiple accounts

Sometimes it's easier to save for multiple goals if you have a separate account for each. This can help you track your progress, avoid commingling money so you can stay on target, and maybe even take advantage of bonus offers for opening new accounts. Some banks, like Sallie Mae's SmartyPig, and Ally Bank, offer special account features that make it easier to save for several goals at once.

4. Break big goals into bite-size chunks

Big numbers can be daunting at first, but you can make a goal easier to reach by breaking it down into smaller monthly amounts. For example, if you want to save for a big family vacation that will cost $10,000, you could give yourself three years and try to save $277 per month. Want a new car? Set aside $150 a month for 18 months, and you'll have a down payment of $2,700.

5. Make saving automatic

Once you know your goals, stay on target by automating your savings.

• Set up recurring transfers each month from your checking account to your savings account (or to multiple savings accounts for separate goals).
• Earmark extra money toward your goals. If you pay off a debt or no longer have to pay a bill (you cancel a membership or subscription), put that money into savings before you can spend it.
• Take advantage of automatic savings tools and apps. Some, like Digit or Ally Bank's Surprise Savings, analyze your spending patterns to find money that's safe to transfer to your savings account. Others help you find more money to save from your everyday spending. For example, Chime and Bank of America let you "round up" savings by automatically moving change from every purchase you make, rounded to the nearest dollar, into your savings account. This can be especially helpful if you struggle to save or tend to live paycheck to paycheck.

6. Track your progress

Once you've set a goal, it's time to watch your savings grow. Apps like Thriv and You Need a Budget offer goal trackers that help you visualize your progress. Many banks also offer online tools that combine calculators with multiple goal trackers, such as Huntington's Savings Goal Getter. After all, the more progress you see, the likelier you are to stick to your strategy.

What you can do next

Think about your short- and long-term savings goals and financial priorities, and set clear targets for each. Then check with your bank or credit union to see what they offer for multiple goals, like savings trackers and automated tools.

Ben Gran is a freelance writer based in Des Moines, Iowa. He writes about personal finance, public policy, financial services, technology, and business.

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