--- title: Where to start? Part 2 – Save description: Explore practical tips to build a savings habit within the Give-Save-Live framework. In this insightful financial commentary, learn how to save wisely, avoid debt, and plan for the future. image: https://blog.globalviewinv.com/hubfs/AdobeStock_126524665-1.jpeg --- [![3_Global-View-SMALL_long_black](https://globalviewinv.com/wp-content/uploads/2025/10/3_Global-View-SMALL_long_black-scaled.png#130)](https://globalviewinv.com) ✕ - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/our-story/) - [Our Founder](https://globalviewinv.com/about-us/our-founder/) - [Meet Our Team](https://globalviewinv.com/about-us/meet-our-team/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/fee-only-fiduciary/) - [Referral Partners](https://globalviewinv.com/about-us/referral-partners/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - 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[Who We Serve](https://globalviewinv.com/who-we-serve/) - [Case Study #1: Protecting What You’ve Built](https://globalviewinv.com/who-we-serve/case-study-1-protecting-what-youve-built/) - [Case Study #2: Maximizing Sale of a Business](https://globalviewinv.com/who-we-serve/case-study-2-maximizing-sale-business/) - [Case Study #3: Retiring in the Carolinas and Hiring a New Investment Advisor](https://globalviewinv.com/who-we-serve/case-study-3-retiring-in-the-carolinas-and-hiring-a-new-investment-advisor/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [Client Login](https://globalviewinv.com/client-login/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/our-story/) - [Our Founder](https://globalviewinv.com/about-us/our-founder/) - [Meet Our Team](https://globalviewinv.com/about-us/meet-our-team/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/fee-only-fiduciary/) - [Referral Partners](https://globalviewinv.com/about-us/referral-partners/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) [![6_Global-View-Icon-black](https://globalviewinv.com/wp-content/uploads/2025/10/6_Global-View-Icon-black-scaled.png#68)](https://globalviewinv.com) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Case Study #1: Protecting What You’ve Built](https://globalviewinv.com/who-we-serve/case-study-1-protecting-what-youve-built/) - [Case Study #2: Maximizing Sale of a Business](https://globalviewinv.com/who-we-serve/case-study-2-maximizing-sale-business/) - [Case Study #3: Retiring in the Carolinas and Hiring a New Investment Advisor](https://globalviewinv.com/who-we-serve/case-study-3-retiring-in-the-carolinas-and-hiring-a-new-investment-advisor/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [Client Login](https://globalviewinv.com/client-login/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) # Where to start? Part 2 – Save ![](https://globalviewinv.com/wp-content/uploads/2025/11/gold-line.jpg) # Global View Commentary [![](https://blog.globalviewinv.com/hubfs/AdobeStock_126524665-1.jpeg)](https://blog.globalviewinv.com/commentary/where-to-start-part-2-save) # Where to start? Part 2 – Save Aug 14th, 2024 By: [Matthew Crider](https://blog.globalviewinv.com/commentary/author/matthew-crider) [**In the first part of this series**](https://blog.globalviewinv.com/commentary/where-to-start-part-1-give), we explored the importance of having a framework to manage your finances. We introduced the **Give-Save-Live** approach, a strategy that prioritizes giving, saving, and then living within your means. This time, let's dive deeper into the "Save" portion of the framework. Remember that feeling of being overwhelmed by the question of "Where do I start?" with saving? We'll address those common challenges and unpack practical tips to build your savings habit. Whether you're living paycheck to paycheck or struggling to make headway on financial goals, this post aims to equip you with actionable steps to "Save Wisely" within the **Give-Save-Live** framework. **Save** Saving wisely can be a difficult concept because it can be very subjective.  Some may neglect saving entirely in favor of endless spending driven by FOMO (Fear of missing out).  Others may focus too much on saving and adopt a more stingy or hoarding mentality.     The wisdom in saving is rooted in preparing for the things we know will occur and attempting to plan for some of what we do not.  Saving can also break the cycle of debt.  When you save, your account balance accrues interest each month.  Over time, your savings will grow even if you do not add any more money out of pocket.  This is the power of compounding that works for you when you have savings.     Did you know that nearly 1 in 4 adults in the US have $0 in emergency savings?  This means the next unforeseen expense will send them into debt with the power of compounding working against them by owing both the principal and interest accrued to the lender.       So how does this work in practice?  A few examples are: - **Focus on saving $1,000 for emergencies**.  This is a short-term goal that will help prevent having to use credit cards when unexpected expenses happen.  - **Automate your savings for the same amount each month**.  The emphasis is on creating a new habit.  Some call this the “Pay yourself first” method.  Start small and gradually increase the amount as you make progress.  - **Work toward 3-6 months’ worth of expenses. ** This is a long-term savings goal that will put you on solid financial footing.  The more debt obligations you carry, the more you will need in savings (closer to 6 months).  If you are debt free, then less in emergency savings is acceptable (closer to 3 months).   - **Use a sinking fund. ** A sinking fund is money you set aside on a regular basis to be used for a specific need in the future that does not regularly occur.  Will you need new tires on your truck soon?  You know you will have to pay $1,000 for new tires next year, so start saving for them now.  Save $84 each month into an account over the next 12 months, and you will have the money available next year to purchase your new tires.  This also works for vacations, car purchases, or even major home repairs.  ![Matthew Crider](https://blog.globalviewinv.com/hubfs/Matt%20Crider%202.jpg) ### Written by [Matthew Crider](https://blog.globalviewinv.com/commentary/author/matthew-crider) Matt is a CERTIFIED FINANCIAL PLANNER™ professional who has been in the financial advisory business since 2008. He holds a BA in Marketing and Management from the University of Cincinnati and his MBA from Clemson University. Prior to Global View, Matt began his career with Fidelity Investments. His specialties at Global View include asset accumulation and investment strategies; college funding strategies; budgeting discipline and analysis; multi-generational planning; and life event changes, such as marriage, kids, home purchase, retirement, etc. [LinkedIn](https://www.linkedin.com/in/matthewrcrider/) [Read other posts](https://blog.globalviewinv.com/commentary/author/matthew-crider) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ### **Are you on track for the future you want?** Schedule a free, no-strings-attached portfolio review today. 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